The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-09-26
hrs or CARAcAs rRoM Ian. mol JrLY 25.

We recently made remarks relative to the settle
men going in Illinois between the government and the
Shawneetown Bank which the institution had fraudu
len,ly purchased the MAter bonds, repudated by the
State at low prices, and by collusionwh the State Off
GERS substituted them for the acknowledged bonds The
Spring field Journal contains the following =
we settling up with the Shawneetown Bank as
fast possible. Recently we took $4,000 OF bonds and
gavethe bank receipt for IS 0o0 dollars The why's and
wherefores of this measure, it would take long TO
give. 1t is best the banks too hard for appre
hand the democracy may be called upon again to rechar-
ter them.
We will explain that which the Springfield does
not understand The $50 900 of bonds here alluded to
issued to the northern railroad for which the
State held lien for $4,000 upon the road The conrac.
who held these bonds passed them to the bank
and the bank in surrenderng them the State, obtains
release of the lien for S75O 900 upon the road.
The law for taking up Of the State bonds
which had been hypothetical with Messrs MAliser and
stebbns in this city, and for which the State had recev
cd the of above 1851 $780, provides that that
to reimbursed by be drawn the State
Treasury to be delivered by the proper officer the
cept of said bonds The operation of the jugge going
to saddle the State with the face of the MAllster
bonds The bank will get clear of Its obligation at 90
per dollar which is the average price of the bonds
instead of 81 cents which the rate of the true bonds
The bank will thus make about $50 OCO by collision with
democratic Slate officers at the expense to the people
$4,000 average Of Is per cent and 100000 26t
The probability is that the scheme will yet be defeated
and the bank boys be obliged to return honest bonds.
The speech of Mr.. Webster at Rochester reported
in the Rochester Democrat and is of the weakest
tempts that gentleman has made for years. We will
bring few of the statements in different parts of the
speech in juxtsposton as follows:-
Take the eastern part of Virginia and North Carolina
and what have they for sae7 One agricultural pro-
duct and one aene, which is largely consumed by the
and the other northern states we pay those states ma
ny millions annually for that one product We are their
best and almost their only customers England wi not
ake.a bushei Of their wheahey look almost exclusively
10 the market of The north.
The honorable gentleman meant comparatively be-.
the Treasury tables show that England has bought
$I 600 600 of bresdsus from the United States in the
last three years.
Time and events will justify what said and what I
said was h England Is dn1tousfo obtain our agricultural
products She is most anxious to exchange her manufac
do say gentlemen that the agriculture of cur country
is the great matter which demands the protection our
government tbs misnomert to speak Of the protection
OF manufactures! is the protection of agric ulture
that wanted. is 10 furnish IL agricultural pro
ducts markets. home market-a large market. Ihav
many friends in Massachusetts whose capital is invested
in manufactures They deserving OF the protection
and fostering Of the government But suppose they
10 not get III They can turn their manufacturing CAPT
AS question Of political economy--God forbid that
should introduce party politics herebut, question
Of political economy the inquiry will arise where the
surplus products Of the soil shall find sale This re-
peat Is the object Of government to provide.
Of the state of New York and of wes have in great
profuson than before found their way into Eng
land Within sir months quite trade has been open,
ed. While in the city OF New York, took occasion to
enquire OF my friends how IT was; and they assured me
that cargoes of hee pork and lard were being constant
shipped and that recently several ships Of the largest
class have left New York for Liverpool and London la
den exclusively with sons for those markets These
articles were going out with the hope of obtaining fair
profits and partly because they cheap here, aud be-
cause England had modified her tariff This is quite
trade. should policy be adopted augment this trade
Dho Douid not rejoice? The poor Of England would be
better dwe would be better paid and the interests Of
all would be promoted
why, how would they do in case of war; Where
would the cotton planter find sale for his crors7 He
would be forced to rely alone upon the home Market
That's the earliest, though not the largest. One
third of the cotton crop Is disposed of at home. The plan.
ter gets his pay earlier from the northern consumer and
price ned al yheh he dsposes Of the remainder Of he
crop. These gentlemen truihsthey elements of
political economy and are as true upon the James river
in Virginia. and in North Carolina, they here in
New York
Mr. Webster states that third Of the crop sold at