Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-01-04

others it is justified the ground that the Chinese
government had no right to destroy $50, 000,c00 OF
British property in order to sustain their laws, and
restitution should be enforced. The question is in
creasing in interest. The packet ship U. States is
reported below with few days later dates. If she
arrives in season, we shall publish her news in our
second edition and, if not, extra will be issued
soon after her arrival.
Crisis OF the Banking System-s 81 nix Fra uls
nan New York nnd Phijndel phin.
Every day developes still further the character of
the extraordinary crisis through which the country
is plunging, like Mazeppas noble steed through the
morasses and rivers of Siberia. Every day some
new and startling feature, horrid with crime and
CHASTITY in wickedness, is revealing itself to the
astonished country II is idle to deny or to palliae
the great social conflict before The credit
sysen-the banking systematic whole scheme Of
paper money and paper currency-is tottering to its
foundation, and all those men and interests that arc
bound up with its meshes, must either get rid OF
their engagements by bankruptcy, or be compelled
TO seek another source of existence and support
That tee system in in this country has had its
advantages, every reasonable man will admit-but
although frauds and defalcatons have marked its
history from the creation of the first bank yet it is
only of late years that whole communities, cities,
invert the very words of the virtue
vice, and apply terms of reproach to honor, Justice
and truth.
As specimen of this horrible decentralization of
all that is right and wrong present our readers
with the following extraordinary TRADE from one of
the organs Of the fraudulent, corrupt and rotten
banks of Philadelphia:
From the Philadelphia Herald and Sentinel Of jar. IL
The INFAMOUS CRAZY BENNETT, AND THE SYSTEM
OF NEW YORK SLA~DER.
The lawless and libellous course pursued by the
Netc York Morning Herald in ieference to the cit-
zens institutions and character of Philadelphia, calls
for some signal manifestation Of resentment: some
decisive act Of Tetrbuton, that will this aban
donea cuprit to quail beneath its iron wei ght and
reduce his iHs0'encs OF infamy to some more mea-
sured terms of slandCr-for SANDER the v per must
indulge IN. he would perish for want of breath IN
his natire atmos phere ~; infamy and pollution. We
stand ayhast it'll unaffected astonS that Ne,r
York we mean the honorable aud respectable por-
ton of her cizens-should permit this plague sDot
10 tarnish her far fame and infect her with the
cancer of defamation TO 80 vale degree of wanton
and dab DlcA SANDER. Is, indeed, wonderful that
her more mOIa al and elevated citizens do devise
to arrest this torrent OF vile rib3ldry, by in
ficting proper punishment upon the editor either
BY the force of legal penalty, or moral proscr pton
Where is the GRAND JURY Of her Criminal Court
that this felcnous beller is not brought condien
punishment We speak seriously this matter. The
insoence of Bennett has reached point here II must
u.
York as by the moral sentiment of Philadelphia
We know it will be said, that his infamous character
saves the public from harm, by disarming his press
OF all moral influence and that none heed the rotOus
rawlings of his insane paper. This Is all very true
Sill II Is not 10 be endared that wretch so coated
with moral and political leprosy, should be allowed
TO blotc his irJecti0rs breath Of ISLANDER upon the
hest aud purest characters of which our Stale and
CITY can boast and o. mpute 20 our bes' institutions,
crimes that never hal existence but m the rH1nous
imagE tOa 81 Bennett himself, and has gTeeRtyed
a .s.ts. r fft a.. ~. 4 L.
York MOrning herala) contained. a few days ago, a
beous portrait Of the estinable cashier OF the BIGk
of ne Jai!td States Of PeHnsy IuaniG, remark
able Tor AZ. gross falschood, bclou imputatons and
Sctfylous insnuatiOns, than for either honor truth,
or any other quality that could mitigat the diabo
Ical rawlings OF the hbeller The gentleman thus so
shamefully traduced Is 50 well known for his rare
aud amiable qualities here, that no one would care
for moment to dignity the libeer by a refutation
Of his rIbad mendacity But talents, assduity, In
dnstry perss and tact, such distinguish
this gentleman could not fail TO excite the mai gnant
feeling Of curious eye, the green, KEN, searching
eve Of this lean CGssIus, who, II he dare, would
plant his dagger IN the bosom Of every SUCCESS
yuL man of merit +" The cashier Of the institution
thus reviled has cause To blush that by the force
Of merit talent and industry, he has vsnquished the
obstacles Of obscure fortune, ard risen TO the SPLEEN
did dignity Of honest comprehensive conspicuous
position Of aleat, crowned by integrity and reward
ed by public esteem. IL Is such men, who carve
out splendid destiny from a comparatively obscure
origin by the force Of virtue and mind, who attract
the malignant fttft VINO pau t"iistf
bui have not wings 90 soar We look upon this at
tack ourselves, the reputation and department OF
our amabe and able Cashier ofthe chiefntitution Of
Penn.y vanis, as compliment rather than an insult,
coming from the t does, and overloaded with
90 much rbald fslsehOod to confute itself. But
there evidently turks be meath the cloak ~ tht
sin a deeper game than mere grati6ed haze. IL be-
longs 10 the system Of Nec York sasder against the
credit and Installations Of Psnns ylraniO, aud such
deserves the indignant exccration OF all our our.
mails Bat the result will he victory to "a AMI our
institutions. The New York press Engaged "a utis
,rar will profit by IT. and the PUBLIC will here
after attach importance 20 its filth, scurrilny ard
defamation. whether emsnaiing from the infamous
Bennett or Ue ReU. Pars8n Hale.
One word mors-,he green-eyed correspondent Of
the crazy Herald is known to be in the employ ni the
Nav YoaE srocK-TuBBERs, and rod j. IN soak To-
him. Our public men have nothing % fear from the
charcoal picfures'' ol such pensone and fed de-
famers Let them rail on-the purer the metal, the
brighter 1t shines by such attrition. Not even the
insidious and Malignant Institutions 81 BENNETT,
though concealed 30 adroitly and infused 30 skliu-
", have power 20 harm the institutions and public
men Of Pennsylvania
But Tor New York we must saw. shame on her
morals--shame on her deccncy shame on her hired
band u assassin hbellers "
To such outpouring Of gall and NORWOOD. we
can return only a smile Of calm but inefable con.
tcmpt WHO the writer Is. can be matter Of little
consequence; indicates principally The nonstfous
psssions of malevoence slumDering In the Grand
scoundrels who have deirauded the honest people Of
PHILADELPHIA, bytwo suspensions of specie payments,
besides the astounding catastrophes Of the Schuyl.
IBs,k the Manual Labor Bank, aud several Loan