Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-12-31

Persons residing il Psughksspsie may OBTAIN the
Daily ard Weekly Herald Al TsilIei News Recon-.
90 The New Years Address may be had there alss
Ds~srsli.cx Cssxisie. Or The Cssnsry--TAs
Past. Present nnd Future.
There is not in the history Of any civilized ma
tiea, such another specimen Of rapid public de-
moralixation amsng tina higher classes Of society,
VIC have witnessed in the United States during tho
last eight ten years. For the two centuries that
elapsed from the landing Of the Pilgrims at Ply.
mouth, and ofthe Cavaliers and iIuguenets at James.
town or elsewhere, such extraordinary instances Of
fraud, wickedness, and demorali xation be
found, have been developed over the whole coun-
try. among the higher cssses Of both partes part-
cularly during the last ten years. Public fraud
have folloacd each other. with rapidly more
resembling the speed OF steam power, than any
other motion in nature art.
1t been the calamity Of the country too, and the
disgrace Of the age that these extraordinary develop
ments Of immortality have pervaded all parties-all
states-sll classes Of men-but particularly the
educated, refined, religious and elevated. The Pc
litica and nane al institutions Of the country from
the General Government and the United States Bank,
down to the commonest tidcwaiter in Water street,
broker in Walt street, have been covered with
dishonesty and fraud, black and as rotten as was
the leprosy Of Egypt. In Boston, in New York,
in New Haven, iu Buffalo, in Philadelphia, in Bali
more, in New Orleans, the bank frauds which have
taken place, in the last few years. only be equal
led, but hardly surpassed, by those frauds which
have been perperated by the officers of the govern
ment The names Of Rathbun, OF Price, OF Swart-
won't. of Lewis of Dyott, only loom little larger in
the long catalogue Of wickedness from the accden-
tai circumstance that they went into the vlany for
millions, while the lesser lights Of vlainy stopped
to thousands and hundreds
IL we had time and room, we could ennmerate
list Of hundreds of highly respectable names, who
have been good, for frauds Of one kind or another,
t,centy millions of dollars all of which have been
Perpetrated during the last few years. OF this
army Of master spirits in evil, we recoect only two
solitary individuals who have been justly served for
their dclinquencies, Rathbun and Dyott;-two
three who have self banished themselves, Price and
Swartwout,-whilc the great bulk reveling in
their i'll gotten riches, and presenting perpetual
stimulant to all those scoundrcls who
gagged in the same business, under the mantle Of
bank charters, bank loans, or government tactics.
The effect the public mind, Of these vast series
Of public frauds, is beginning to show itself in the
social system. In the first revolution in France, a
similar decentralization in the public men and great
leaders Of that day, produced smi ar effect the
exists 10 the present day. All confidence was bro.
ken up between and man, and what called
the credit system in commerce, and credit currency
in finance. was completely obliteraied for years.
Even TO this day, France has hardly recovered from
the shock which the decentralization OF their great
revolution produced.
The same results rapidly maturing in this coun
try. The excessive frauds-the gross and impudent
cheats on public confidence, which have astonished
the world during the last few years, both by officers
OF banks and officers Of the government, state and
general have shaken all confidence in the integrity
Of public men, be they either politicians, statesmen,
bankers, cashiers, directors. After fraud has
been discovered, Investigated, and talked over,
Their begins to attract public attention. No
had the fraudulent suspension OF the Philadelphia
banks paled upon the public appetite, but another
OF the same disgraced confederacy began 70 exhibit
It's second degree in decentralization, in the OF
the Sehuy kill Bank Bat mpudent STILL in the
face Of these astounding facts the spectators Of New
York arc daily laying snares to cheat the public
der The Free Bank Law, while the fnanciers Of
Philadelphia conceal pslliate, and attempt to hide
enormity of their vlainy under the false issue Of
protecting their state Institutions and state credit
against foreigners. Oh impudence where Is thy
blush
% lest to all Of public morals, ~ TO defend
either the conduct Of the United States Bank, or
hat OF the schuylk Bank, which 10 only another
phase in the same system Of fraud, then say it
unhesitatinglv, unshrinkiDgly, that such people
and such a state deserve the fate Of the people Of
Sodem and Gomerrah.
We are lost-utterly lost, 40 country-as peo
ple-as Christian nation and Christian race, il the
enormous decentralization Of the present dav 10 not
put stop and the perpetrators Of such wicked
ness TO the and state prisons
The great mass Of the people Of this country will
Nv 10 some new form Of government, some new
social system in order TO get rid OF this most damn
ing, demoraising influence Of the higher and sduea
ted classes Of society, who paliiae such principles
nd perpetuate such practices. IL would be betteI
and wiser to destroy every bank in the country;
rare every bank building in the Union, 30 that moi
stone shsll be left ON another, than any longer q
tolerate the public frauds which are Perpetraset
under the mantle Of bank charter, or Of party OF
faction.
We begin nearly to believe that the gross demo
ralsaion II the present day cannot be renedied bu
by total destruction Of the power and influence o.
both parties-whigs and locofocos-as well as thu
entire demolition OF the banking system. The
morals Of great people-the preservation OF theii