Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-06-19
MORNING HERALD.



cents per copy, at the Office, 81 Ann street-at the
usual price to the newsmen and newsboys. Adver-
tisers will please hand in their advertisements at
as early hour to-day as possible. Our edition is
so large and the crowd of advertisements so great
that prompttude is necessary in order to enable
TO supply the public at the usual hour in the morning
In addition to other interesting matter in double
sheet, we will give full, elaborate and accurate
lists Of the rates of exchange bank notes, list Of
broken banks and general Prices Current Of all the
leading articles Of merchandise. These lists, with
other useful and miscellaneous matter, will be very
important TO commercial well general readers
throughout the country
The Fraudulent shin Plaster and shnr
Ranking Systcn,.
The recent indictment and arrest Of Albert c. De-
merritt, and Of his agents in this city, induce us
TO hope that the period has arrived fer important
movement to be made in order to rost up, and eec-
tualy destroy that hydra headed monster the fraud
ulent shinplaster and sham banking system. This
step, il carried it's utimatum with single eye
for truth and justice for the honor and credit Of the
city, and due regard to the pure administration Of
our laws against fraud, will have most highly i'm
portant and healthy bearing upon the general COM
mercial interests of New. York. and a most valuable
upon the morals Of the city and country in
every avenue of society.
For the last three four years, with short inter-
walls, this system has been in operation, flooding the
country with trash in the shape of bank notes de-
fraudng the honest and the industrious in every
ton Of the unon and enabling the corrupt designing,
and dishonest persons who SET the machinery OF this
rotten system in operation, to accumulate wealth to
great extent by their roguery, speculate in lands,
the sphere Of their villainous operations,
obtain artificial and temporary standing in society,
and in too many instances either evade the laws
passed to suppress the system, and punish the per-
petrstors, or openly to set them at defiance alto
gether.
In carrying out the fraudulent shinplaster system,
New York and Philadelphia have furnished more "a
cilites, more rogues, and mere means Of corruption
than the entire balance of the United States. These
serious and strong statements, but they the
words Of truth and sobcrncss At this stage Of the
proceedings we make separate charges against
particular persons; il is the scandalous system,
the whole system, and nothing but the system, that
we have to contend with. 1t must be rooted ost
from society For more than three years past we
have batted with it, iscessantlv, through good re-
port and through evil reports and in many instances
with most signal success. Twoyears ago there were
than thirty shinpaster banks in New York alone
they were established contrary 10 law, and carried
on their Infamous traffic in defiance Of allaw. The
" Herald was then the only paper that waged sus
tanned systematic warfare with them. In conse-
quence OF our exertions and exposures several Of
them nipped in the bud, before they had spawn
ed much trash upon the public majority strutted
a brief space, then " died and gave sign" the
balance fingered out SCRABBLE existence, and died
dissraced, with the exception OF two three that
the boldest in villainy, and who recognized
under the new bank law, with the sole intent de-
fraud the public still further.
These latter have continued their scandalous ca
reer until recently. The first serious check 10 the
system the arrest OF the great Philadelphia Free
Banker Dyott The first check TO il in this city has
been the indictment and arrest OF Demeritt. In PHI
ladelphia justice has been done to the fraudulent
specializing shinplaster protector; it remains to
be seen whether equal justice vii! be done TO those
that still remain in New York. The Grand Jury Of
Philadelphia have gone further, and indicted the ac
completes of Dyott. Jacob Ridgway, man rsputed
worth a million, is now undergoing examination re-
specting his connection with this transactions others
are TO be tried Immediately, and two Of the young
Dyotts have fled. On the other hand, the Grand
Jury cf this city has set noble example, and done
its duty; il remains to be tested whether the admin
istrators OF the law will do theirs as efectualIy
II is indeed high time that an example, terrible
example was made Of some Of these fraudulent, inn
pudent SPECTATORS, who have long preyed upon
the life blood Of the community. They have herded
together in Wall street, like the uncean beasts in
the Augean stable, and il requires the labor of Her
cales TO them, and cleanse the character and
credit Of the city. They have hired cellars and Off
ces at enormous rents, employed every description
Of scoundrsl in the character OF clerks and agents.
hung out their signs, issued their shinplasters Of
every kind and denomination, and thus far success
fully defrauded the industrious portion Of the com
munity Of millions A great deal Of the public pre-
judice existing against the brokers aud bankers OF
Wall street has been occasioned by the frauds and
vanies OF these fellows, and il is high time that e.
fective measures were taken to wipe away the re-
preach from the city and country.
The commercial character OF New York has suf-
fered, the character and credit Of the whole coun
try has suffered both at home and abroad from the
monstrous frauds perpetraed by the shin plaster and
sham banking scoundrels for the last three years
No country has suffered so much from any one cir
cumstance as the United States has since the COM
mencement Of this shameful system. We have al
ways endeavored 10 check them, and we shall hold
On with hearty honest grip until they are utterly
extinct We have much Of the evils Of their
system; their fraudulent netes and shin plasters
have reohed the iarthest extent and most remote
portions Of our territory, and in instances
have been forwarded TO Us from those places in pay