The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-09

RS'j.s: brown l & j ~ s:s s:ss
S S;s'f HS:ss Cot, Ell n s.s i;
These prices show the fact that there has been
ocomplant heretofore there for glorcation
now from any actual Improvement in prices The fact is
however that at these low prices, with corresponding
rates for materials the manufacturers do better
in $780, when prices 20 per cent higher than
The operation of the tariff must be to restrict their sales
and render them less prosperous in the end.
There is much Indignation expressed among the holders
of bills Of Vermont broken safety fund banks and with
good reason snow three years since that afro
cous concern, the Essex Bank of Gudha tailed. It's
assets were taken from the creditors by proceedings in
Chancery, the application ofthe Bank Commissioners
What has become Of those assets The bill holders have
never received cent. The Vermont safety fund is
most ridiculous humbug-not dollar of it is exist
ence. It's mere decoyduck by which the Of
failing bank drawn into the hands of commissioners
from whom they recovered Instead of the
words vermont Safety Fund" the face of bill being
guarantee of safety it is notice that the
marked victim to the spoilers. All such bills should
be avoided The Legislature of Vermont for the honor
of the State should take prompt and active
investigate the msdeeds that have been pracsed by the
Bennington Essex and other Banks and take
prevent such doings for the futare.
The dealcations that take place among the employees
ofbanks brokers' and moned institutions can be no mat
ter of surprise to those who observe the silence
when not SILENT the paatng publications of most of the
city papers, in relation to the bubbles that
have of late exploded involving of high stations.
extensive connections Teahh and influence, in transactions
of the most barefaced and atrocous rascalty The
exposure that Of the American Life and Trust Company
one the attempted justification of which enough
corrupt all and every engaged the management
of monied concerns in trust for others Here is
with capital of 50 900 the subscriptions of large
number of individuals, fails outright On examining its
assets we find that w. II. Seward John Duer, Daniel
Webster Charles A Davis with fifteen other individuals,
have seized and divided among themselves $77So of
the capital These people have borrowed 900 in
London and mortgaged themselves their bonds, mort
cages and promises in payment The Secretary OF the
United States, and the Governor of the State OF New
York. pledged for shonored bonds to London brokers'
The publication of this fact is called by that superb spe
cimen OF pride in rags" who edits the New York Anne
rcan an unwarrantabe exposure OF private concern"
This identical parsonage with the same clique who have
divided the spos of that devoted company were the in
sr,nnents Of procuring the indictment in 1926, of ndi
vduals connected with the Life and Fire Co. of that day.
some of whom were sent to the State Prison. If those
persons were deserving of indictment and punishment
how much deserving Of the perpetrators ofhe
rghtful frauds which daily "paated and justified
by corrupt and venal press
W. H. Seward has Published long letter. in which he
seeks mystify his connection with hnplaser scher
merhorn in the Chautauque land speculation He endea
make it appear of course that he did from pure
y dsinerested motives merely to benefit the dear peo
ple,-nothing The officers of the u. S. Bank en-
tered the cotton market from purely patriotic motives
They put the profits in their pockets charged the
losses upon the Bank for the same reason. Governor
Stewards operation simply tins He with his partners
bought of the Holland Land Company certain track Of
land in Chautauque County which there settlers
who paying for their farms they could the
money when their farms paid for they received
their deeds In the very hey-day of paper speculation
Seward Co came forward and bought the whole track
the heads of the settlers he states for $500
Part of this tract settled and part unsettled The OBJ
ect then make the settlers pay for the whole track
ofher labor and leave the unsod lands the hands
OF Seward Co. their part of the speculation. The
claims Of the Holland Company upon the settlers were
not in a negotiable form therefore Seward Co. first
agreed with the Company that they should take bonds OF
the American Life and Trust in payment for the lands
They then the Life and Trust and agreed to give
the mortgages of the settlers bearing interest," for the
ComPsnys bonds. They then went TO the settlers ana
wheeded them into taking full titles for their arms' ana
giving bonds and mortgages for the balance due 10 pay
these bonds and the interest them, th@setier wereto
toll and sweat and when they paid they would De IN
possession Of their own little farms but Seward Co.
would also be in possession Of large track, for which
they had dor nothing cajoe the dear people" The
next stem was TO render these lands valuable by
bedliny and coaring the whole State to spend $4,000
600 IN building the Erie Railroed-whch mobile work."