Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-09-26
MORNING III E X A ID.
Mr.. Bennett's Letters.
LETTER No. XXVIlI.


take passage in the Royal William from Liverpool,
which sails on the 10th instant. l had some nton-
ton ofreturning in packet ship but my anxiety for
home Is SO great that cannot resist the desire Of GO
ing BY steam. ! have been eminenly successful in
all my arrangements in Europe. BY the Havre pack
cts have sent variety of leuers, detailing nay move
mens-and by this conveyance you will receive
batch of letters written by myself in Paris. There is
also letter dated at Paris the 4th Instant, which
received this morning by mail, II is from one OF
nay regular Partisan correspondents. The whole ma
chinery Of nv European Correspondence will not
come into play till shallhave de parted from Europe
-tken il will begin, and if II does ousup every
thing known hitherto in the United States Will LET
the Wall street editors take off my head and pickett
10 eat with their rations, | mean 10 establish the
Herald on an entirely new foundation. shall have
a press on new principle 10 strike of OC9 copies
per hosr. have studied mnutely the system of con-
Quoting newspapers in London and Paris, and have
caueh, several useful hints My travels in Europe
will rewri,e and retouch, when get home, and shall
give different view Of men, women and things than
has been given by any traveller heretofore from this
side of the Atanuc.
On the great subjects of Finance, Currency, Com
merce, Steam Fashion snd Philosophy, but parcu.
any one ha. ever yet done. have already given the
people Of New York sketches on all these, es-
pecialIy the great Enforcement du commerce. in
France. In these matters France has began new
career She has again taken up the tide where il
was cut off by the Partisan ocoocos of the caibre of
Robespierre, in 1892. All the political and democra-
tic writers Of France are studying political economy,
and writing on these subjects Even the celebrated
Abbs DelamennaiS has caught the Infection, and has
published highly elaborate article in late Review,
on the sublec, of creating general exchange curren-
CIV for all Europe and America, with It's centre IN
Paris.
The French great in system, generalization, and
philosophical arrangement. If no revolution 81 home
or abroad disturb the great movement they have
begun, they will in few years, outstrP the world
in developing the pswer and elasticity of paper cur.
rencv. The English indeed have no confidence IN
The character or commercial systems OF the French
but this arises from Jealousy, fear, and dread OF
poxerful competitor. To do Justice te French skill,
science and talent must 80 10 France ana exam
Inc for himself, without prejudice or prepossesson.-
We have been too long accustomed IN the united
States TO receive our opinions OF the French through
the yellow and jaundised channels OF English prelu-
dice and dislike. Americans only can understand
the beautiful points of the French character, because
Americans alone are in the position TO see clearly
their social, political and commercial spirit This
much on that point.
Since left London, in July last, several financial
and commercial movements have taken place here,
all of them highly important TO the United States
One of these is the negotiation OF the South Carolina
loan under The management Of Gen. James Hami-
ton. This loan is for 81 coo coo, of which the first
instalment of $500, 900 shipped in specie for
Charleston a few days ago. TIE negoclator here is
the famous j. Horsely Palmer, OF the Bank OF Eng
land who is the Bddle of that institution. General
Hamilton resided a, Longs Hotel, while in London
and returns in the Great Western tomorrow.
This loan, learn is connected with several impor-
tant objects both Of political and financial nature.
One Of these plans is TO establish direct trade 10
Charleston, and TO give the go.by 10 New York. The
first vessel chartered in pursuance ofthis view 10 the
Dsceola which carries out a large cargo of English
goods to Charleston-70e cases Of porter and other
hxuries for the planters Of Carolina. Gen. Haml-
Ion himself has entered commercial business and IN
tends to begin new era in the SOUTH To Horsely
Palmer he was very communicative, particularly in
his views connected with the new movement breach
ed by Mr.. Calhoun ana his friends in the south.
The new great Bank in South Carolina, with cap.
ita of sl2 900 600 20 form the centre Of those com
mercia and political operations, which are intended
10 make Charleston the capital Of the south, and to
cut the wings of New York ana New Orleans. This
bank is connected with railroads reaching TO the Ohio
and Mississippi. Ii is also authorized TO establish
branches in several states. The whole movement is
intended not only put stop 10 the operations OF Mr.
Btdde in the sosth but also 10 shake the commercial
and financial supremacy Of New York. Horsely
Palmer has no particular liking 10 Dir Blddle, and !
learn that he entered the arrangement of negocla
ting the South Carolina Bonds with great svidity.
II will be seen, therefore, tina, two mighty move
ments both proceeding from the Bank of England,
are directed 10 the United States for the purpose of
contracting, or curtang the operations Of Mr. Bldde
both north and south allude 10 the negotiations Of
the Bsrings and Prime & Co, for New York-and
those of Horsely Palmer and General Hamilton, for
Charleston. The centre Of both IS the back parlour
Of the Bank Of England
This is the view here-but the purposes Of the Ca
roina hnanciers are not confined TO commerce alone.
They look beyond Believing that Mr. Van Buren,
Is TO be defeated by Mr. Clay in 1870 Mr. Calhoun
and his friends are organizing political and financial
movement in the south, Ietake the sovereignty Of
the Union in 1914. The centre Of all these compli-
Gated operations is Charleston and their means the
creation Of a large bank-the construction Of rail