Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-09-12
Nicholas Biddle's Letter-Nationsl Faith
Delicate Subject TO touch upon.

"A fuil and graphic descrPti0n to-morrow
Nicholas Biddle's Letter-Nati0nal Faith
Delicate Subject TO touch upon.
Among the novelties Of the day, is homiy from
Mr.. Nicholas Biddle, on National Faith. 1t might
be supposed that the entire failure of this gentle
mans projects as fnancier, would have taught him
cireamspection; and that when he retired from the
adninistr alton Of an institution which was on the
verge of ruin, he would have returned to those Pur-
salts: which, he must he conscious, are more con-
genial TO his mind than either the art Of banking
the trade Of politics But, as il in revenge ofhi
own III luck and diminished glory, he now struts
before the public in the character Of vindicaor Of
the national faith; and by contrasting the conduct
Of oar government with that Of England and France,
he faters himself that the parallel will rebound not
a little to the praise Of his own sagacity, and the
glorfcatio Of ourselves, on the score OF political
and moral honesty.
The Commercial Advertiser, in introducing Mr.
Biddles letter, thus speaks" Our foreign assaii-
ants would have acted wisely had they looked lit
tie into their financial history, before they en-
tered so broadly into the sea Of detraction; and we
rejoice that in the letter Of Mr. Biddle, they will
& nd historical analysis upon this subject, which
nav refresh the rscoiscfiors Of some, and serve as
I. heip in the studies Of others. They will therein
learn which nation il is speaking the English tongue
that has first and frequently, nay thus far, sr
.,~.;,.J. violated its faith with the public credi-
tor"
tn. i.~. of certain rarts Of Mr. Bidile's let
ter il not a little remarkable. He says at seems
within the limits Of just self defence, respectfully
and Kindly TO warn such zssailants that these re-
breaches are very apt to become reeiprocal-that
the party attacked is often forced TO remember OF
n. .nt,yon;st that which he would willingly for
~.,v surely. TO borrow the sarcastic expression
r. yo,,.;r. ,b. ia comm, 81 a,touchs Sc piaignaif
40, p,.t aeeu.S draroir role.
NJ p;aa,s nov proceeds 10 state that the British
government. about the year 1911, adopted one Of
IN. mos, extraordinary proceedings in the history Of
I,,;.l,,iou. Ipassed resolution, That the notes
.fthe bank Of England have been and are at this
time held in public estimation equivalent 10 the legal
coin Of the realm and generally accepted as such IN
ali peeuniary transactions to which such coin IL
lawfully applicable" Accordingly parliament en-
.cted-sIhat the notes should bea legal tender Tor
III d.bt,. That whoever should reeeirs pay for any
vold coin more than its lawful value, whether socn
additions. value was in other coins or in bank notes,
.hould be deemed and adjudged guilty for misds
,,a,or. and be fined and imprisonsd. And that
,~ho.xe, should receive or pay any notes for less
,h the lawful amount ex pressed therein, should in
~. u.,n.r he fined and impTisonsd."
a. Fortunately for America" adds our advocate,
....r who. conduct has been the direct reverse Of
.u,h;.y Indeed, Would to God that this the
,r,,h, Doe. then Mr.. Riddle affect to believe that
"a. extraordinary proceedings Of the British House
ofcoumo.. above mentioned, were anovelty in le-
x,.l.,;o.7 Does he not know that they have pre-
-, !. a., art. NJ the North American Congress
"a the state legislator. Of Pepnsy in relation
:. ,,.or money, during the period Of 'gloriou'