The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-15
RATES OF FOREIGN BILLS IN NEW YORK

The statement in of the morning papers that bona
de offers had been made for part othe loan
snot true The department sent to the Bank of America
the Merchants and the Bank of Commerce. to solicit them
take 81 OOO which refused. John Ward Esq,
who the agent in the negotiation of the previous
of 81 obtained time since, at u dscount then
went Washington to endeavor to obtain the control OF
the stock at least the refusal of it until after the next
boat from England 1t is rumored in quarters that,
notwithstanding all the i'll temper and bullying manifest
the other side of the water that temptation of United
States Government Six per cent Stock will yet be too
strong for them and enough will be found to take up the
omo amount offering The next boat will throw light
upon the matter she is due Monday and il the
brokers the department until that time they will
obtain the This has probably been the
the delay issuing the Treasury which
have yet made their appearance There demand
for them bank for The operation
of the cash duties them to be in emand for that
purpose when they low enough to make object
purchase them rather than to pay money which is
scarcely the Many look forward to decline the
900 the market will make sl5o 900 al
together outstanding and under the present exravagant
tariff the will fall off The notes. at this Of
the year. greatly in demand medium Of inland
change for which purpose large sums absorbed.
The failure of the American Fur Company is a matter of
great regret and surprze The very high moral and
mercantile standing of Ramsey Crook Esq., however is
that the best will be done the premises That
gentleman has left for the lakes to look after the affairs of
the The capital of the company is $1,000
largely owned in Saint Louis The general ofhe
failure losses upon urs shipped England last
and the previous The present year the business has
yielded profit but the property being locked up and Liza
bes falling due, caused the stsppage wdes Pickers
gill Co., creditors for $4,000. but have furs in
hand more than sufficient to cover the amount.
The condition of public and private creditin the United
States DISASTROUS the to the casual observer
The destruction of the system of credits must however
relieve labor from taxation of the most
destructive character. The imposition of taxes
however they may be- for the support Of govern
men seriously affect the prosperity of an in
dustrous people When however, those taxes are accom-
panied by the auxiliary demands Of host Of bankers and
usurers who have added wealth to the nation but have
exhausted blood through the specious preenceof
credit loans becomes impossible for "a country to adj
national prosperon the other hand the seeds
of utter ruin planted In the history oformer ages
may find instances analogous the presen. of affairs
now existing in this country.
In the latter ages of the Roman Empire the provinces
were subjected to the taxation As the pro-
ynces were generally unable these impostons
they were obliged to borrow at interest. Interest was
then to communities at the me.exhorbtant in
dividuals. No Roman province free from the most
public debt and that debt far from operating
like the same engagement contracted in modern States
by which, the creditor is thrown into the power the
debtor they often add considerably their strength and
the number and attachment of their dependents The
prince in this latter borrows from a subject or
from stranger. The one becomes ma, subject, and
the other less stranger But in the Roman provinces
the subject borrowed from his master, and he thereby
doubled his slavery The overgrown favorites and veal
thy nobility ofRome advanced money the prov inca
and they in condition both prescribe the terms
Of tho loan and enforce the payment The provinces
groaned under all the severity of public impos
on and the righteousness of private usury They were
overrun by publcans farmers of the taxes agents.
scaors usurer bankers those numerous and Unsuitable
bodies which flourish in burthened and complicated
These nudcious and heavy taxes in the Ro-
man empire were main of its decay and ruin.
In our own times under the stimulating causes which
sprang into existence 1873 all classes and all grades
of government Congress down to the smallest towns
in the remotest counties of made States. increased
their expenses and enhanced the burhens the people
The towns and counties squeezed money from the people
directly. The cities got larger amounts indirectly I'LL e
Of loans The States increased the sum by using the
form of obtaining it and the federal government
using another form swelled its receipts to the enormous
of $50 900 900 year. and Congress projected
expenditures Commensurate with those receipts All
these gradaons OF debt in different forms were heaped
upon the same people for the uses OF different forms OF
complicated government. The debts swelied to an ex.
tent which disabled the people from paying tine in
forest from their loans Recourse then had to the
wealthy and overgrown mobiles OF London who like those