Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-03

More OF the beauties of Free Banking.
IL will be remembered that, al few days since, we
gave expose Of some of the beauties of free
banking in this city. This has produced not only
a division in the ranks Of some Of the Philstines
but has actually caused of the free banks to con
ceive and bring forth twins This is the City Trust
and Banking Co. The very day that our first ex-
pose Of their affairs appeared, they receiveda large
quantity of -four, which had been purchased in
Baltimore with their post notes the person in
whose charge the -four was saw the notice in
question, and Immediately threatened to fog the
whole company, unless they redeemed, in good
and genuine money, the post notes which they had
paid for the flour, and which had yet six months tn
The consequence was, that they paid him and
let him go.
What is not little singular, also, the same day,
that second expose of the of these free
banking beauties reached Charleston, agent of
the company was there, buying some sugar at
public auction, with post notes, and the statement
made by us of their value knocked all his specula-
tions on the head. In consequence of these msfor-
tunes, it appears that the City Trust & Banking Co.
intend to burst up, and branch off into two new
panies. One is to be called the North American
Banking Company, and the name of the ether is not
yet decided upon; probably it will be the General
Regulating Association of Scamps.
The incidents connected with this affair
amusing in the extreme. They first deposited $1,000
of Arkansas state stocks with the Comptroller, for
which they got bills to the amount of $500. Upon
these they commenced banking. They first bought
a trunk fer s22 for which they paid in post notes;
the trunk maker got rid of $40 Of the money, and
then asked them to redeem the other So; but this
small favor they refused. Then they got a worthy
man, penter, to fit up the place; they refused
the man his pay, until he threatened to fog the
whole Of them They then went on another tack,
and issued certificates of deposite; they got Ack-
ermaa a half brother of Munson, the President, TO
fill up the certificates of deposite to the amount OF
$50 900, some high as $500, and some much less
These and the post notes, they sent over the coun
try. with which to purchase produce; and then
Munson, the President, backs out, and starts new
company, called the North American Banking Co.
This new bank, is located up stairs, in the same
building with the city Trust Bank the second
story Giles, the carpenter, who fitted it up, has not
been paid; Jones, the who painted the sign has
not been paid, and therefore he won't give up the
sign And vet this bank % has employed Cat
skill horse Jockey, named jackson, to go round the
country, purchase produce, and pay for it in their
post notes. and certificates of deposit. Such are a
few more Of the beauties Of free banking, pracic
ed in the present day. We shall continue the
sketches, and keep up the fire.
DR. yANpENBURGu's story is a very curious one,
to saw the least Of it. Some doubts are entertained
whether any such burglarous attempt took place
The Doctor is practitioner of the new science Of
medicine, and if it was done to bring him into no
tce, il was certainly very ingenious
TrxAs AND MExIcAS NEws.-Itis said that ne
gotiaton is on fost between England and Mexco,ior
the cession of California to the former. The Hon.
G. Van Ness son Of the late American Minister to
Madrid, has been appointed Texan Minister to
France The navy and war Offices have been made
into one and J. w. Burton chosen Secretary The
Texan navy is laid up in ordinary, and the officers
raced down to one captain and two heutenants.-
survey of the Texan coast, from the Sabine to Ar
kaalas, has been ordered
Nrws FOR BASxRUPrs.-Since the beginning Of
1910 one state Illinois, has abolished imprisonment
for debt-the bill to do likewise has passed the low
er House of the Louisiana Legislature, and the Lee
gislature Of New Jersey came near doing the same,
but didn't. The abrogation in New Jersey, would
have been the most interesting to the people OF tins
CITY; for then every debtor, who heretofore burst
not move an inch out Of the state, could go over to
"Jarsey,n regale himself on a week day, as well as
on a Sunday, and moralise on the depraviy Of the
age There would then be no restraint-no hin
drance.
Seriously, however, these additions in the seve-
raj States are decidedly sensible-and show the on
ward march Of civilization. IL the General Bank
rupt Law does not soon pass, il will not be needed
MAINE BouSpARy.-There are certainly some
movements on the part Of the British, which indi-
| cate a determination to make show, il nothing
more. According to the "w oodstock Times, Cap
tains Battersby and Hawkshaw, Of the engineer de-
partment, had reached that place for the purpose OF
selecting sites for the erection Of barracks, and the
like for the protection Of the town. They are 10
be on an extensive scale.
BuRsrrp-During the celebration Of Washington's
birth day, at Castine, Maine burst and Kill
led Rowland Dyer, pilot Of the Revenue Cutter
Veto.
MuRDER-James r. Whelan, Clerk in the Union
Bank Of Mississippi was murdered by man named
Pomeroy, in vicksburg, on the llth ult. Both were
intoxicated.
GoSr HomE-The members Of the New Jersey
Legislature-it having adjourned.
SreersrIoSs IN Relation TO Az IMPROVED On
eANIzArIoS THE WArcHMES or rms Cry
LIST, That they shall be persons Of well known good
character, and competent to perform the duty.
I'd They shall reside in the beat or district which
they watch, and IL owner Of house in IL, so much
the better.
3D.. The beat OF district shall comprise a straight
street, for he along street, but cannot
| over two blocks of houses.
9TH They shall not only watch the district at night
but be peace officers, day and night, and enforce all
the ordinance Of the corporation, light the lamps