Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-02-05
N q N r. Y N A IL X EFT.
Sunday. Feb. "A. r. M.

After trying week, during which stocks declined almost
daily and money seldom scarce something like took
place yesterday and slight frmness observable In the
prices ecsre Curtamen OF the currency, which have
ceased evidently begun TO be felt In other
quarters There complete fermentation in money matters
the whole country Every legislature every exchange
every Of business every banking instutoa in
state ereiment Here very little appearance yet pre-
sented spring the inacton Of bank
would to throw every osstasle In The way.
From Boston and the have Of the asound
ing bank disclosures The Legislature OF that state have been
examining the conduct Of the Commonwealth the American
the Lafayette the Franklin and other banks Some Of these
bnks have been managed the most corrupt principles The
transactions the Franklin bank have been characterised by
fraud perjury, and roguery OF every KIND has been dis
covered that Mr.. Smith, member Of Congress from Maine
borrowed els 600 OF It's specie bank sgnng serealso
that large amounts websers paper lying pro,e
ted in the Commonwealth Bank. Some Of these banks
Of The OF the
American bank supposed TO be good-and the bills wsrth
their full value.
These startling developments, showing the eorrup,
sgesn OF the Boston banks have entirely destroy cha
money in s city, Every Kind and descrp
returning upon the usrs some ef the brokers In
made gains by the psrc among the
Boston banksnor does yet appear be estrey At
the last dates from Boston, things apparently que-but
fears are entertained that the suolk Anssce will fall
pieces
This Of things has produced sights supervision Of bs
ness Boston Little selling said, but the necessares
Of lie, -four al % and other provisions. Great complaint
made scarcity OF currencyand fears entertained
Of revulsisn among the men Of business
Thus stands the matter In the Essbow 10 the south
The Legislative inyestg creating great excite
In New Orleans Is discovered that large proper.
ton OF the Of their baaksext In the shape OF protested
paper belonging houses lad failed Out Of discounts
the Of s0eoeee about twesty eight hrms absorb
I'D The whole This has caused gresthe'y 70 the manage
banks which Cor several years past have aided
the large SPECTATORS shsver and brokers' with Immense
sums instead fostering with small losn many small DEAL
spice the cement appears 70 have
the banks New Orleans that OF Boston
The real ady moderste industrious been neg
ectea expires. purpose ef svshng fases onspecu
ors large operators those who want TO make fortune
AT q dash,
The excitement and controversy about the resumption Of
specie payments appear have subsded Great efforts are
making 10 prevent resunptoro induce the banks TO En-
pand-snd 10 procure further renewal sf the suspenoniaw
in connection with the repeal Of the small note law There
small elqs> of fnaeeers In Wall street connected with The
mrer newspaper that ansieus to buy UP the eals Of
our banks or those Of Philadelphia and Bostan merely
speculation Hss.d they would engage 20 reslire all the
ba an balances New rorh In specie. Their mode sm
pie They weud bring suits against the banks Of Boston,