The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-21


Mr.. BENEFIT
BEAR SIR:-
The grand Struggle is over--ths fnanciers are
outfnanciered. After hard fought battle, in
which the nanciers brought to bear all their large
and small army against the Legislature, they at last
became discounted, and ingloriously fled, leaving
the field to the conquersrs. Yesterday the Cover
nor signed the Bank bill, copy of which l SEND
you. 1t is an able document, and exactly suited
the occasion. There will be no getting around it.
The Banks must resume specie payments on the
Goth September, or go into liquidation. Specie has
already fallen three per cent number of failures
have taken place-among them some of the Bank
cli4ues.
Two Bank Presidents have stepped payment,
and more are expected to es Many other Bank
Presidents must shortly fall under the weight Of
the judgments recorded against them, as it will be
rather difficult for them to arrange with their credi-
tors.
1t is doubtful whether, in the present depressed
state Of the Market their property would sell for
one half of ifs worth
The Merchants' Pank will, it is believed, b. the
ruin Of all those concerned in the purchase Of it,
Il has been prohibited from issuing any paper un-
til after the day fixed for resumption Of specie pay
ments. The Gas Bank is likewise in the same pre-
dicament. About one half of the Banks will pro.
baby accept the terms of the Bank bill
There is no sale for the stock OF the weak Banks,
nor is it probably worth much. The best stock
here selling at ruinoas rates. and every day it 10
getting worse.
Some twelve or fifteen commercial houses have
stopped payment-many Of them are considered
very bad failures-it is supposed, to make money
by the operation.
New York creditors had better be looking after
payment, before the wife Of the insovent comes in
and sweeps off everything. This kind OF finance 10
carried on here to frishtful extent. There have
been some instances when the wife has, after sweep
lance due her. The supreme law Of the land would
no doubt put stop TO this wholesale system, il
timely opposition was made by creditors. But
there nice way Of Sticking over things here, for
want Of due attention and examination into insol-
vent estates by the attorneys employed by foreign
creditors. The husband has NO right 10 make over
anything to his wife, while there is existing q
community Of goods. The law only recognizes her
claim ~ far ~ she brought property with her in
marriage or by inheritance. Its the opinion Of the
soundest lawyers here, that the Supreme Court
would ann.l all judgments in favor. Of wives for
money or property given to them by their husbands,
while they were in business Thousands Of dol
lars could be recovered from wives, who are now
living in luxury aud extravagance, obtained by
their husbands More anon. ore.
:, siSsvLAR FAcr-Thsre IL, says the Hartford
Eas,e fact Of grs interest to the people Of Con-
n me- IN connection with the Amstad negroes.
nc totai Population Of the state, by the late CEN
sus, Is 3l0,Ol5, Of which 81 are Represented AZ
sAves There "a include 81 Amistad mel who
have been DEE lared BY the u s. Courts 10 be free
men. III the app ortionment bill. allowing one re-
prcsentative to every 81 900, passes the
which oHght to DO made, counting these ri NOT a,
slaves, but a. freemen viii enils the state to an