The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-05-30
BY THE SOUTHERN MAIL.


Important from New OrIeans--Great ANTI
shinplastcr Mob and Riot.
Our accounts from New Orleans are extraord-
nary Inc people OF that great capital have risen in
'heir strength and put down the shinpasters and
paper currency by Lynch law. The scenes of
Olhclhnatl are enacted over again. The banks in
Mobile and all the southwest must now resume
Inc people OF this cash and hard money country
where the almighty dollar" is properly understood
and venerated, will never submit to the deprecated
and false currency issued by banks and financial
cliques.
The following is full history of the New Or
leans shinpaser emeufs from our correspondent.
Read and be wise. Cash and short credits forever,
New ORLEANS, May 20, 1892
Gre gf.t Moo-Destret,9n q Brokers 0cesm7 De-
Omo lhe Great Financiat Experiment
The netarious spirit of mobocracy has at length
broken on in New Orleans While l write the
streets are filled with the military, parading in full
uniform, and an armed posse, or voluntary patrol OF
ficers on horseback are dashng furiously past, in
all directions, and the city presents something such
an aspect as at the time Old Hickory put it under
martial law. You will see all sorts of statements.
doubtless, in the papers, from which it will be mo.
rally impossible to get at any thing like the truth.
VIII endeavor therefore, TO give you the facts in the
case with all proper perspicuity.
during the suspension and breaking up of the New
Orleans banks, and while the strong ones wouldn't
issue their notes and the weak ones couldn't. the
small circulation of this city has been almost entirely
municipalities, and of dimes and half dimes which
passed at premium of twenty-five per cent. or
eight dimes to the dollar: Upon the resumption of
specie payments, (which did not go fully into effect
until wednesday mornng), the dimes and half
dimes assumed their proper value, and the munic-
patty shlnpasters, as matter of course depre-
ciated Those Of the first and second municipal
ties, from Is to % per cent, (Which, considering
that they had never been worth but eight dimes
was in fact no depreciation at alD while the bills
OF the third municipality ranged from 30 cents to
on chaps" The first and second municipalities, al
though considerably in debt. will undoubtedly re-
deem every dollar of their issues but, as to the
third il is very doubtful case. The brokers, how
ever, thinking il excellent chance for an 'opera
on," cassed the bills of all the municipalities to-
gether, stuck up notices of 'no shinpas!ers pur-
chased here ;" and by these and divers other un-
godly tricks which would have done honor to Wall
street. succeeded in throwing dscredt upon all mu
nicipaity notes, that they could buy up those of
the first and second at 45 and 90 cents-hus making
an immense profit at very little risk, nobody Sc
riousy believes that the notes of these muncipa,-
ties will not eventually be redeemed.
This being the state OF things, the fruiteres ha-
berdashers and small dealers in general, itineran
and statonary,-a motley and Understandable crew of
French, Spanish, Italian, Portuguese, Germans and
Jews of all nations, to the number of three or four
thousand started this morning for the Mayors office
where they called out his Honor and demanded the
Honor who did not happen to have the change ''pas
him., declined this opportunity Of showing his pull
lie spirit, but told the mob that the story of the de-
probation of their notes was fasehood, and that
they would all be redeemed in few days. The
crowd, upon this, left the Mayors office and being
instigated by the devil, who sometimes deghteth to
witness the destruction of his works, proceed
ed in body up Chartres street to Canal yelling like
ten thousand wild Indians On the corner of Canal
and Camp, Qhe latter being continuation of Char
tres) the mob commenced TIE work of destruction
by completely, cutting the exchange office ofMessls
money it contained gold. silver. and paper, (even
sninpasers,) while the cry flew from rank to rank of
the rioters, "dur arwes! dur drncs''' The citi-
zens imme dately ran to the Town Hall, where
magazine of arms and ammunition is constantly
kept, and returning in a body, charged upon the
this Time the offices of Valentine and Williams, RAJ
phael, Nance and Barker, four brokers' Offices all
in row., were completely and literally Quilted No
body seriously wounded in this most extraord-
nary eme,e, and the civil authorities, aided by the
citizens succeeded In capturing some ten twelve
ton tomorrow morning, and who undoubtedly will
be committed for trial. | shall send you the result
by Sundays mail.
The resumption goes swimmingly. Cotton has
improved cent per pound. Puck
SATURDAY Morning, May 81.
The Council of the Second Municipality have
met and passed resolution funding the shin
plasters and issuing certificates bearing 6 per cent
interest The first Municipality have authorised
the negotiation of loan of $500 OO0. The amount
of shinplas.ers in circulation follows First
Municipality, $2OO,OO0; second, $345,000 third,
$500, 900.
The butchers in some of the markets refuse to
furnish their stalls with beef until the shinplasters
are redeemed, and we therefore have made light
breakfasts P.