Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-06

VulsIon in the monetary system ana hhahclai aialrs
ofths curious and original country, goes ahead like
flash of lightning ahwart the blue heaven, in chase
of Satan, trying to make his escape from the sword
of Raphael
In this state the reduction of bank loans, equal
10 800 900 600 in year. have begunthe reduction in
prices rents real estate, produce, and every thing.
The City Bank Of Buffalo is SHUT up, and many more
banks will follow. The legislature, at Albany, is
deliberating on the best means of making bank
new par over the state, which will only aid the
progress of events. In Pennsylvania, they are in
worse condition. the banks have all suspended'
and he who talks of honesty and good faith in that
state, is stigmatised as scoundre That broken
state has Just borrowed of her broken banks, loan
10 pay the interest her debt, mode of finance
that will only accelerate the utter destruction of
both bank and credit in Pennsy lvana In Mary
land, and throughout the South and west, the same
financial conflict goes on-the same effort to sustain
extravaganza and continue fraud and speculation by
borrowing today to pay the debt of yesterday All
the spectators connected with the rotten banks and
rotten states, endeavorng to hide their extrava
gance and folly and TO make plausible appearance
Of things TO their creditors in Europe.
The country is the verge of a Revision and re-
volution such as no civilized nation vet passed.
The system of negotiating fresh loans to pay the in
terest of past debts can only end in utter and final
explosion. The great ofthe people viii soon
rouse themselves to indignation against the fnan-
ciers, bankers and politicians of both parties-and
few short years-perchance months-will produce
more decided civil revolution in half the states OF
the Union, than ever has been experienced in the
bankrupt republics of South America. The states
owe about E25 900 600 sterling SIPS ,000 to
European capitalists aone-a great portion of which
has been wasted and plundered by the bankers and
politicians of both parties, under the name of COM
missions, contracts and public works. The inter-
est cannot be paid without resort to direct taxation
VIII the people submit 10 pay for the extravaganza
ofthese men viii they not rebel at such exactions
review the whole policy of the last quarter of
century-and most likely repudiate these debts and
the men who incurred them by some great organic
volutionl
We are in the midst of the great crisis of the credit
system England is also in the same position, with
out possessing the means, in natural wealth and
vast resources to recover from her diiicuties.-
What the result may be is difficult TO foresee-but
this much is certain the eve OF vast social
and political changes There is one comfort, we
can't be worse-we MAJ be better.
REMEDIES AGAINST FiREs-We call the atten-
tion of the community the proceedings of the CT
tizens of the First Ward, published in another
lumn, on the subject Of providing remedies against
confagrations.
The gross ineficiencv nattention, and weakness,
of the present Corporation, from the Mayor down,
have increased much Of late, that the citizens
will absolutely have TO organize themselves, in
their wards, to provide those remedies which a
good government ought to provide. We never viii
get rid Of riots, fires, plunderings, and every
species Of public disorder, till put in efficient
chief magistrate, such Aaron Clarke was, and
BODY Of aldermen and assistants that will have the
moral courage to act for the public good, and not
party benefit.
As ExPEcrrp.-The bankrupt. swindng, insol
vent Bank of the nited States Philadelphia, have
refused to pay the 5000 post note owned by me,
which fell due last Saturday, and then sent on
for collection. They have taken my money to buy
up the Legislature Of Penn sylyana, and to permit
them longer to cheat the community. No matter
| shall issue the following advertisement;
INFORMATION WANTED.
S S Sank r. @ s 1,s's h.
any sp-cis or other s,opsrS6 ~ bs, m h. issued
and 'h' properly ''''o' JAMES GORDON BESSETT
F,sHioSABLE Party. CORNER OF FouRrH ST.
AVID BRo.pw,Y.-one Of the most graceful and
pret.ies balls got up in fashionable society, dur
ing the present season, that given, last week,
by the beautiful and interesting Miss C., at the cor
ner Of Broadway and Fourth street. IL was equally
recherche for its charming young women, and its
choice old wines.
Among the fair present were the two beau
tiful Miss Ms Of Fourth street, now preparing to
20 to Washington. They were dressed IN virgin
white with ornaments of the most tasteful descrip-
ton The eldest danced frequently with Mr.. b. Of
Mississippi but towards the close, the young Mr..
n of New York, entirely ecipsed the southerner.
a. much a. the specie-payng currency Of New
York outdocs the mere paper money of Mississippi
The beautiful Miss r. also created considerable
sensation. Young A.. bud Of the auction system
j. very attentive in this quarter but he has not made
the progress ne imagines. The lady sings with
great sweetness and taste and the gentleman talks
everastngly Of his travels and hsir-breath escapes
in Europe. lie twice nearly swallowed up by
earthquakes-once the verge Of falling into the
crater of Mount yesuvus-suilered several six ship
wrecks-was robbed in the Alps-and actually
murdered and buried alive in the Apprentices. by a
band Of robbers.
Mrs. X. the sister of Miss C.. most bcau,i-
fuIiy dressed in black velvet. Miss C., clergy
man's fair daughter from Boston, attracted great
deal Of attention--slso, the two Misses A., the
pretty daughters Of Water Commissioned. as
larry $40 per day have just out in the fashion
able world. and bid fair 10 create sensation.
Among the gentlemen present, there was none
very remarkable. unless IL was short Major :. who