Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-12-06

liquidation, which would have been entirely hope
ts., mad the mad career o. the last nss years been
ties, therefore, with the exception Of those who
want to sell to borrow upon them, placed in
better situation by the temporary cessation OF all
dealings in them. Some Of the states may, and pro-
baby will, pay all the claims; some will pay por
ton, and others perhaps nothing; but, with respect
to all of them, the chances Of the foreign creditors
| are improved by the present state e things
II any further argument were required against
making any more loans to the American states, il
would be found in the feeling that subject among
the inelig gent merchants of that country, who
ceve that much injury has been done to the states
themselves through such loans, in turning the atten
tion of the citizens from the ordinary steady pur-
suits Of business to all kinds Of exravagant schemes
and specuations, as cou d be inflicted upon England
itself, were the whole of the money lent to be lost
"LoNDoS, Nov. 10, 1889.
g 10 the Editor of the Times:
"Sir,-Under the head Of Money Market and
City Intelligence, in your paper Of this morning, it
IS stated that bills OF exchange to large amount
have been presented, is said to the London agent
OF the Bank OF the United States, who declined pay
ment but has been able to make arrangement with
the holders under which the bills are renewed, and
| the loss prevented which would have ensued had
they been returned under protest to America.
a" To this assertion il is necessary that should
| give the most unqualified contradiction. neve"
have declined payment Of any bill Of exchance9
drawn upon me by the Bank Of the United States, ne.
rangements OF the renewal Of such bills On the
trary, every bill Of exchange bearing my signature
has been regularly and promptly paid at Messrs.
Denison 4 Co: banking house, where all my accep-
tances are made payable 07,
AS the paragraph above quoted is calculated to
do very great injury to the shareholders in the Bank
of the United States, well to all the holders Of
its OBLIGATIONS, have to request that-as the slight
est possible reparaton that can be made-you will
insert this letter in your paper Of tomorrow,
der the same head Of Money Market and City in
(Signed) IS. JAUDoN,
"Agent ofthe Bank u. States"
1t must be highly gratifying to alIpersons inte-
res ed in the affairs Of Mr. Biddles bank to observe
the extreme sensitiveness the score Of credit
which is evinced in this letter. Nothing has been
more currently talked Of in the city for the last
month six weeks than the fact, which is not de-
MED, that Mr.. Jauden has been compelled, by the
want of funds or the wan of remittances TO renew,
or to exchange flor othsr paper Of the same Glass;
the postnotes and bonds Of the bank for which he 10
agent called the United States Bank, but which,
holding charter, oaly from the separate state Of
Pennsy vania, have no just claim to such title
Or the various obligations for which such insttu
ton Is liable, the more sacred would be in such
its postnotes and bonds, which differ only from
the notes Of its ordinary circulation in not being
payable ON demand With respect to bills Of ex-
change, which essentially more OF a commercial
than banking charaeter the rule as to credit would
be, II anything, rather less strict, but it that
any imputation Of failure or q hesitation this
point is much more keenly felt. With private indi-
vduals the would b. otherwise, and they would
not have WINGED at change after quietly sustain
ing the other. They would have considered that
the fact q being able to renew bills OF exchange ct
all was at least some evidence Of remaining credit
To deal, however, with the special matter at issue.
The fact, as stated IN city on Tuesday after
Noon, On authority Of such nature as to ohsin for
Implicit belltl was, that agent for tie ~ nasyl
wanna bank had raised money al an enormous rate
OF interest for the purpose Of renewing taking M
bills of exchange asg due in the week After the
public announcement Of the stoppsge OF the bank in
Phi odelpha, the real wonder Is thai The agent
| snou have been able 10 accomplish such transac-
4 n = NIL In - ~
word renewed, then the bearing of the agents let
Ter will be fully Understood, bar he must not expect
10 misleai the merchants Of this couRmy by any
| such evasion, or by attempting TO pursuade them
that there is any difference on the score of credit
between the renewal Of bnl absolutely, and bor-
rowing money TO meet IT, But, IL not material IN
inat respect, rs Of very great consequence TO all
persons deeply interested IN the PhilaGelpk,a Bank
that ITS bills OF exchange should not 20 back under
prsiest, since that might endaneer the whole Of us
funds by The forfeiture Of the charter, and herye
there are to De ionad parties IN tins city who, beng
already far involved in It's AFFAIRS are willing M a
price TO do that which strangers wowld assent TO-
and incur further risk TO secure ultimately q far
DIVISION of tho property.
There . no occasion, however, TO search into pr-
vate transactions 10 md for 3 sweepiBS Com
domination Of this bank which has done more mis-
chief both in Europe and America than aces will
serve 10 set night, For this lis open and notorious
acts will suffice, which have been often adyerted
10 10 need repetition. Oae alone therefore. shall
now be mentioned. which 10 the short career Of the
bank snder he present charter which was orsntcd
If recolleci right, in 1896, and the capital Was
then stated a, s35 000,0oo or f7eO0, 600; yet the
bank stopped payment IN 1887; rene wed became q
borrower of money all over Europe and Amer
IL RATES varying from TO "a ger cent; and has
acnin stopped payment in Philadelphia on the 10th Of
October last II people are incapable o. any im-
preston from fects hike these, they must be le to
their fate, and can receive Der eft from any
warnings which we can give them.
THIsss THrA7RrcAL -Knowles' new play Of Love
was produced at Covent Garden, and adds another
laurel to those the author has already Won. At the
fail of the curtain the whole audience rose and
called for the author and the leading actors Knowles
had bolted," but the actors, in obedience 10 the
|" silly CUSTOM" appeared, enc BY one and received
the usual honors, though without the wreatks which
have been lately thrown from the boxes on sseh
occasions.
Miss Tree played the heroine, end Mr. Anderpoa
Huon the male feature Of the piece We subicin
two specimens Of the dialogue. Huon reples, to
m objection BY the Countess, that the pesscnt-
lover of high born lady, whose story they nave
been reading, proves to be lord
.Tbe poet ssav
Against himself In inst He should have knsv,
better trich, whs ksd AZ hand HE
Excell,ng nature % sdnsuish him,
Than the low eusnsg OF the eomnon ersn
hind HE hero, won the sdy . lsve
He had worth ugh for that
And again
"Welcome sdyersiiy shahe hanls viii n.
Thou tester Of r0s hearts whoss ho,rsIv fr.
No fattercr sts down to-hoIovv frss,J