The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-14
NEW YORK HERALD.


ms. ORR DOUBLE SHEET contains, among other
;mnortant articles, the erpose OF Mr.. Talmage,
President of the N. A. Trust-the famous speech
of O'Connell (republished by request)-a most orr
sina and amusing article on the Potts and VAIN
wright Controversy, together with a vast assort-
ment Of letters, correspondence, news, incidents,
reports, advertisements, &c.
LATE AFFAIR OF HoNoR.-We have communi-
cation on this subject, from reliable source cor
recting some slight errors in our previous STATE
ment, which we shall publish tomorrow
Proeress Of Financial science-North Anne
rican Trust Co.
We publish in this days paper the sta'eine"' 'e
GENTLY issued by Mr.. Talmage, the ex-fresoeht Oh
the North American Trust Co. This is a very clear
and Ineligible statement, and may DC CONSIDERED
..o,l,ar ston in the advancement of financial SCI
snce in which so much ignorance has iron
hme immemorial in Wall street. The various
statements in relation to this Company, issued by
the Receiver, by Mr.. Graham. and now by Mr. Tai
mage. are so many little crevices letting In light,
making us acquainted with important facts, all
uniting in helping us to an exhibition OF the igno-
rance and charatanism which has characterised
ali the 6nanciers of Wall street up to the present
day
We do not mean to treat this subject as a per
sonai matter. II is more a scientific SUBJECT ana
oae of the most important too, which can attract
the study of the men Of the present age II Is the
science of common sense as applied to banking and
financial affSirs Now, in this point OF view, adj
uniting that all the managers OF the North Amerl-
can Trust Co., from the commencement, acted IN
good faith yet they have given us sufiicient EVIL
dence already by which are justified IN coming 10
me decided conclusion, that set OF greater IMAM
cial charlatans never did exist than those connect
I'D with this Company in Wall street In this cate
eory. we do not exactly mean TO include Mr. TAI
mage for he, il seems, was brought In when the
Company was trembling on the verge OF rum by
bad management, for the purpose OF endeavorlng-
by his activity and business talents-to redeem 1t
from destruction So far as he is acquainted per-
sonay with it, he gives a very clear and satistac-
tory explanation of the affair. And we very will
hngly pass him before the community as entitledto
all the benefit thus acquired.
The whole of this business OF the North Amer
can Trust Co. and others, only affords additional
Illustration of the gross ignorance which prevails
On all financial subjects amongst the very men IN
Wall street who profess TO know every thing about
these matters They are completely over
whelmed in their own little, petty, personal opera
tons in particular stocks and narrow minded views,
that il is impossible for any man IN Wall street 10
have a comprehensive or correct view OF the state
of the country at any particular period lake tor
example the very class of men who originated this
company. Who are they! What are they
What are their capacities? What evidence have
they ever given of their talents? This sci OF men
who started the North American Trust Co. and
ctba w
Albany. and procured the enactment of "a law call
Cd the Free Banking Law" for the express pur
pose of endeavoring ts preserve the bubbles OF
1896 from bursting, and TO continue the imitation
for another period of time. They fell into the
sam, error and exhibited the same ignorance as
did the managers of the United States Bank THAT
was attempting to bolster up paper credits when the
community had lost all confidence in them. The
Southern Trust Co.--the Morris Canal and Banking
Co.-and a variety of other institutions in Wal
street, were all organized and managed with the
same degree of ignorace and want OF tact, and al
came to ruin from the same causes.
Yet with these examples before us-with the re-
mains of these institutions filling the atmosphere
with pesence and rottenness, we see the same
men now in Wal, street endeavorlng to initiate ST.
milar bubbles, and go the same road of igno
rance, 1OHy anu uioaStci' "HN' WIN '''N'N w "
end to all thls1
O'CoSNErL's FAMOUS SrEEcH.-Wc republish to
day, the famous speech made by Dan O'Connel Of
his trial in Dublin and we do so in order to supply
the craving appetite of his countrymen and lover
for this bonnie bouche. Heretofore 1t has been onl
published in the third edition OF our last Weekly
and in the Sunday edition, but to reach all readers
we give il again entire to-day BY the way-wt
perceive that some of the Philadelphia papers, like
some wise acres here, consider the speech hoax
Here is one
A Ho,x-The most stupcndous hoax which has been
palneI upon a gullibe community, since Locke discover
I'll the inhabitants in the moon O'Connes speech,
which was published at length in several OF the papers
large and smalD of this CITY, A penny contemporary
with is usual foresight kept all hands hard at work on
Sunday night fer the purpose OF issuing an extra on ZION
day morning They did and have no doubt S%nh S1 out
bugyed The speech was manufactured in New YORK
and although not the great gitaors has created much
sensation among types and steam presses Philadelphia
Chraa,eie.
This is rich If our acute contemporary VIII take
q trim to New York, and stop into our office, We
will show him the copy of the Dublin Pilot, Extra
dated the afternoon of the 5th Of February, from
which we copied the speech. This copy W
brought by the steamer leaving Dublin that night
and reaching Liverpool next morning, IN time to
the afternoon papers of that city to republish co
Luna, on the 9th of February. Our agent in Liver
moo secured copy of the "EXTIA Pnor," ant
sent Il TO us by the packet, leaving for New 1or
that day. II was the only copy brought to TIN
Country.
These are the simple facs-but If the gallar
Colonel of the Chronicle believes as firmly as h
does his Bible, that it was manufactured In New
YORK" it must have been manufactured in our OF
hce-it must have been spoken by ourself, and re
ported by corps of reporters, for no other pape
had the speech. If this is his solemn belief-be
so-we shall take the credit, therefore, Of bein
a greater man than even Dan O'Connell.
STATE DEBrs-MARYLANp-The Legislature o
MARYLAND has at last dissolved without making am
adequate provision for the payment of the interes
on the State debt, thereby leaving the honor ant
reou,ston of the State IN as furnished condition
LI,riaa ih1, laai Ec,.. l..