The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-10-01

throughout the Union convertible into specie in sui
dreadful depression to which has fallen and in fact TO bt
adequate to perform the exchanges Of trade and value m
our country Whether this be Bank of the United States
an issue of redeemabe currency by the Federal Urea
sury not Of much comparative importance that
We should have an abundant and uniform circulation
from some source or other which, making allowance for
the variations in the balance trade shall be of equal
value in New Orleans and Boston.
This circulation in the of that financial wis
dom which past finding out was destroyed by our friend
General Jackson when he slew the Bank Of the United
states with the arm OF Samson and almost with the sell
weapon, toon when recollect all the twaddle oil
the old gentleman this subject He as Burke sad was
certainly "consummste architect Of Ruin" in his time
and tide and had the happy faculty ofimpersonatng cor
portion n his minds eye for the purpose of hating as
Cordially he did you and Mr.. Poindexter When,
therefore Mr. Bdde entered contest with this hero
of wars he forgot the wisdom Of the Spanish
Tha he who sets down to dine with the devil should
with long SPOON What has been the result of this feast
in broken meat and empty plates you well know. has
left country pased ndeed-hungry in flesh and poor
in spirit doubt since the creation OF the world whether
such example can be exhibited have presented
for the last sixteen Of folly and mis- No
Southern planter would permit his plantation for one hour
to be with such lack oa sense and dence
The Caras and Hottentos in reference to their condition
doubt not have been governed with policy far Wig
ilnet and country ofmmense in
period profound peace on the verge OF bankruptcy Any
who will read Humes essays on Public Credit and
Money! can be at no loss to trace present cond
ton to its true cause We have been suffering since
General Jackson the Bank of the United States
with the exception of short period of distempered nfa
ton created by his measures) under steadily dim
nishng circulation, which the eminent philosopher to
whom have referred has declared to be OF the worst
calamties that beiall civilized countryfar more
disastrous than the continued blight Of unfsvOrabe har-
and seasons" This result has been first in the con.
slant action of the Federal Government or their supposed
medtated action the Banks of the States which Great
ed universal panic, that has compelled the Banks to
withdraw their circulation, and next the General Govern
men permitting remain in criminal abcy ance their So
veren function to supply currency equal to the wants
of the country, and " to regulate its value"
The consequence that the States have nothing in the
shape of credit money at home to pay with abroad
If IN
bred per cent and the standard OF value seriously dis
rbed that in 1889 might have had property to three
times the value of his debts yet he is pso acto ruined
by the silent transit Of country from redundant cir
culaon what pleased most feicitousy to call
hard money currency-when the fact is that we can
procure neither that which is hard, or soft.
By this alteration in the standard OF value revolution
is IN porentous progress in our country as widespread
and desolang far property is concerned as that
which distinguished and illustrated the masterpieces of
human policy Of the Robespieres Dantons and Maras OF
another Inflated country which in its time was governed
by its demagogues too who made money SO thick
that showed assgnats the streets of Paris and then
turned round and burnt in tn phrenzy their handy
work. Look my dear sir at the thousands and tens oil
thousands of families that have been ruined-that have
had vulnerable carried into the very bosoms of their
houses, by the nostrums of Political quaoks who, in
their senseess the banks they created gave
no time by the preparatory revolution of the intervening
dscords" for the country to from period Of expan-
sion and arid restriction To those who
have been ruined in these unhappy times whole estates
have passed under the tender grippe of the sheriff the
raj justice of General Jackson's memorable apoheysm
will be but dry crust, "ihat those who borrow money
ought break doctrine out of which their creditors
likely TO derive as little comfort themselves al
though must be admitted that the General tried all he
could to secure this blessing to the country. But my
good sir the day of reckoning must The
first will be settle what the victory of
has cost These generally expensive pageants any
how. Bonaparte probably achieved one Laelle
France except to the tune Of twenty millions of francs
to say nothing Of the lots of cracked and bloody
noses" be left the field Of battle But his victories in
cost be compared to the victory of New
Orleans than penny whistle to Baron Mauchausen's
celebrated clarion under April thaw Calculate that
the victory ofthe sh OF January cost us five hundred mil
lions of dollars besides the small expense Of enalng up
the country set of drv eers whose folly has taken
away all dignity from distress and made calamity
ridiculous" You will say hold. You and greatly
sponsbe for this heros getting into power Yes it istrue
willingly would expae this sin, sir, with my blood if
could recall the fatal past But this impossible Let us look
with courage, and resolution to the future. not
what your abstract theories banking whether they
agree with differ from my believe you have
you had at the close Of the late war; the of
mind and spirit to lift the country Of its present deep
decadence. Yes, my dear sir, believe your ambition and
your genius level with all that great and gori-
Gus in human action and enterprise The field is before
you-take the lead in great public measure whether
it be Bank Of the United States Exchequer agent
it is immateral, that it shall restore confidence, in
vgorate industry give to us an abundant sound crcua
ting medium, and drag up from the deep the drowning
country does not ait you, its last blessingsw up
your fame.
remain my Dear Sir, with sincere esteem,
Very respectfully and faithfully yours,
J. HAMILTON.
F. ST. shall be out in the next Halifax steamer, and
hope to confer with you the subject of this letter
arrival in Carolina.
Observation-Disclosures our
brother in tribulation, and offeader with us in the
Tyler business, is very savage yesterday on the
Medical College of Pharmacy, at 81 Nassau street
and speaks very harshy of their preparations, at
tributing them all to our wonderful genius and ia
lent.
We profess to be a very Napoleon in our proper
profession, the newspaper press but we know as
much and little about these medical prepare
tons as Beach himself. We understand however,
that they are highly approved by medical men-that
the College will, in due time, expel all quacks and
quackery from the profession. Mr.. Richardson, the
agent, is a very honorable business man, and will
pay his rent and his advertisements reguary-and
that is all that we care about the matter We have
do doubt Beach would like to have such tenants
and such customers as we have got-but he must be
content with our leavngs. However, financer
should not get angry. Great Biddle always was po-
lte-should not Little Biddle be so!
RELIGIOUS lNrELLIGENcE-We are requested TO
state, that the French Protestant Church du ST. Es-
prlt Grew. A. verren, Rector) will be open far d.
vine service tomorrow morning at 10Y o'clock
FALL IN PRIcEs.-The house formerly occupied
by Col. Rufus Mech in Rochester, was sold at
auction last week for $500. 1t originally cost
$4,000.
SAILING OF THE SOUTH AMERICA packet
ship South America, Captain Bailey will sail to-day
for Liverpool. She is very fast ship and as Capt
Bailey once beat the Great Western when in the
Orpheus, anticipate that he will give the Acadia
chance to try the bottom of the South America
1t will be neck and-neck affair.
Musical CoNcERT.-The season of Concerts and
sweet sounds has begun-and it really seems from
the company that has attended Dempsters the taste
for music is increasing and has increased.
On Tuesday next Signor Rapetti, assisted by An
tognn, gives oncer for the particulars of which
we.refer to the advertisement. Antognini is very