Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-05


Philadelphia paper, called the " North American
which contains the following curious passage
PHILADELPHIA Banks.-A friend has handed to u
a COPY of the New York Morning Herald, contain
ing a professed statement of the coneiloh VI ~
banks in this city. For the purpose as we s"PbJIs'
OF giving an air of authenticity to the tauies'
amounts specified, IN some instances, "i'
tens of dollars. The entire statement Is apsuraiy
false We notice, III single item' n'sisPiss.hJ
taion of at least one million sertn hundred Wo"sa""
doHarst Such things would be unworthy OF hotce,
but for the humiliating truth, lit rumor Tor once
speaks truth,) that il IS upon information
from such sources that the Legislature OF our state
is seeking justification for its threatened course
The statements for January, 1889, which are al
luded TO in this passage were copied from the ONT
cial documents of Pennsy lvana, and the estimates
Cor January 1870 which also gave at the same
time were made up from facts within our own
knowledge, obtained from good authority in Phiia-
delphia; and, we will venture to say, were as near
the real condition of the banks named as II Is pos
sible TO reach in such estimates If our statement
was false, and yet possessed influence, why did not
the Philadelphia journal, or the banks In question,
publish the truth, and thus set limit 10 our nfiu-
ence 2 The thing was as easy as lying.
As to the at :" information derived from such
sources" we will venture say that the character
of the New York Herald and its conductor, will,
before an impartial community, who acknowledge
the obligations OF honor and integrity in all trans
actions between man and man, compare with the
combined reputation and principles Of the whole
financial brotherhood of Philadelphia, including
those miserable pensioned editors, who are the We
res serfs that could obey the beheSts oil Robin
Hood or his robbers In the statements which we
have published of the financial condition OF the
banks in Penn sylvana, motive was to shew that
many OF them yet possessed the elements OF reco-
very and health, sufficient to place them beyond
the reach of such mismanaged institutions as the
Girard and T. S. Banks, they chose to exert the
moral courage commensurate with the occasion
The State of Pennsylvania has been brought to
the brink of ruin by set OF bankers and poll
ticians, probably the greatest scoundrels that
ever disgraced any country. These men have
been making private fortunes by their specu-
lations, roguery and villainy, while the banks
and the state are driven into bankruptcy, and the
people covered with their disgrace and dishonor.-
We have stated these truths again and again
and because we have had the moral courage to
support the cause of honor and integrity in oppo-
sition to speculation and fraud the miserable bank
pensioned press of Philadelphia have had the inso-
lenee to talk Of our reputation and our character
Thank God. we eyond the reach OF such ras-
Gals We have several open accounts 10 settle with
the miserable editors and rotten nanciers of Phia-
delphia-and at early day, these balances shall be
struck in a way they little dream Of
Meantime the financial difficulties which now at
ct the state Of Pennsy lvania rapidly tending to
the great crisis which must soon produce So
cal and political evolution that will be felt and re-
membered for many years TO come The intensity
of these difficulties is marked BY the vacilating
movements of her legslature-the low intrigues Of
her rotten fnan ciers and the miserable and vindic
tive denunciations of her metropolitan press What
may be the result of the resumption bill now before
the Senate in Harrisburg, cannot be doubtful The
Governor has already abandoned the ground of hon
esty and principle for the sake of enabling the spec
ulators TO escape and IL il be necessary, the L. s.
Bank can purchase many votes in the Senate as
will pass any kind Of law which that institution
NAV want. They have done such things before, and
they can do them again. But one thing is certain
no suspension law-no reprieve for year or two
no bolstering can prev ent the explosion which will
sooner or later overtake the unprincped and inso-
lent financiers of Philadelphia The great mass Of
the community in that city, and in that state, have
managed well, and still conduct their business on
the principles Of integrity and honesty-it is only
the leading politicians and nanciers Of both parties,
who have led the banks, and the state into their pre-
sent difficulties. An immediate resumption Of spe-
Gle payments would crush these scoundreis-but II
would relieve the rest of the honest community from
a load that now hangs them. Trade is paralyze
in that state and il will continue, till their mis-
managed banks shut up-the good ones be sep
rated from the bad-and the rotten politicians who
have plunged them so deeply in debt, be driven to
the penientiary to private iie-to the state pr-
.ron, or 10 the state Of Texas.
Or was surprised yesterday morning to find