Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-11

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der, Scire Facas TO be issued out of the Supreme
Court of Penns ylyana, in the name of the Common
wealth, which shall be executed on the President Of
the Corporation for the time being, at least ten days
before the commencement Of the term OF SAID court,
calling said Corporation TO show cause wherefore
the charter hereby granted should not be declared
forfeited and it shall be lawful for the said Court,
upon the return of the said Scire Faclas TO examine
into the truth of the alleged violation and If such
violation be made to appear, then to pronounce and
adJudge that such charter is forfeited and annulled:
Provided, however, that every issue OF fact which
may be joined between the Commonwealth and the
Corporation such issue shall be tried by jury and
! on the trial thereof the Commonwealth shall have
the right to change the venue from the county OF Phi
| ladelpha to any adjoining county and il shall be
lawful for the aforesaid to require the produc
ton of such books and papers of the Corporation
facts and the final Judgment of the said
court shall be subject all the usages of law in other
cases
| Sect. g. AS TO the Bonus.
! |. In lieu of taxes dividends millions.
2. Required to loan the Commonwealth, payable
1863 the sum of millions, when demanded, at per
cent. 5per cent if D per cent, to pay SllO for
every 800 Of stock if per cent, at par
3. Required to loan million at per cent. in any
one year, temporarily.
Ito paw TO School Fund $500, 900, Sd March,
1887 S10O,0OO every year for 10 years, and to sub
scribe as follows Baltimore and Ohio Railroad,
S200,000 Williamsport and Emira Railroad, $780,
900 Monongahela Navigation Co, 500 1000 Cum
berland Valley Railroad, 100000 Warren and Pine
Turnpike, $4,000; Warren Turnpike, $1,000 ;
Johnstown and Ligoner Turnpike, $1,000 Snow
Shoe and baskerville Turnpike, $2O,OOO Roseburg
and Mercer Turnpike $1,000.
By these provisions, my thousand dollar post note
is now yielding an interest of twelve per cent per
annum. This is something, but not all. In ninety
days from the date of refusal to- pay, shall avail
myself of the provisions of the 7th clause of the 18th
section, and about the 18th of May next if not
paid, shall call upon the Governor of Pennsylvania
to issue his proclamation, declaring the charter of
this swindling bank be forfeited; after which
will be legally null and void.
This is the be pursued, and this the pun
ishment which the United States Bank most deser-
vedly merits
Ever since its sneaking re-charter by the loco
focos of Penns yvania, who were bought up like
cattle in the market to do the deed-just as Webb
and Noah's opinions were bought up in lS:O-this
institution has been acting the most dishonest
and unheard Of principles 1t first went into the
cotton market, under the pretence of relieving the
community and estab shed several large houses
in Europe and America, monopolizing the article,
and creating agitations and fluctuations hitherto
known in the trade. About the same time it sus-
pended specie payments, and caused the other banks
stock business, and invegled several states of the
Union into vast debts, many Of which never can be
paid. Last summer it started afresh upon the post
note system, and made arrangements for second
suspension, and second grand cheat upon the com
munity. In September last at the time il sell
ing its post notes for specie and funds in New York,
its managers were privately and secretly making
arrangements to suspend in October. Such conduct
in a private merchant would be considered, and
justly so, fraud and swindling Yet these post
impudenty issued to the unsusp ecting commu-
nifty up to the very day of suspension.
But this is not all With great prctensions TO public
utility and patriotism it strives by every sort oftrick
to collect the specie, send il abroad and pay its
foreign creditors in a sound currency, while it de-
to the people of this country, the payment of
equally honest debts in the standard of value.
That is say, this institution conducted by Dunlop
& Cowperthwaite, considers pure American patriot
ism and supreme love of country, TO consist in cheat
ing the great community this side Of the Atlantic,
out of six to ten per cent of their rights Agan-in
the face Of this gross and papable public dishonesty,
they have the impudence to boast Of their sovency
Of having in their vaults nearly 2OO0OOO Of specie
and Of loaning about S6OO,0O0 to an insolvent and
spendthrif state which is governed by set Of dirty
drinking, bankrupt locofocos. In a country or CON-
munty, where such open, shing dishonesty pre-
walls, it is wonder that demorali and irre-
gion ncreases-yet the who control this insitu-
ton and support its principles, are considered the
most respe ctable in any community.
What a complete confusion between right and
wrong-betwccn honesty and dishonesty must pre-
vail, before such things exist AT this moment,
the constitution, laws and charters Of Pennsylvania
abrogated by vote ofthe directors ofthe United
States Bank. In the month Of May shall try whether
there is moral principle or feeling enough in Penn
sylvania restore that constitution and these laws
by the repeal Of the charter and the winding up Of
the Bank itself.