The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-02-19

MYSTERIES OF FINANcE-lfE GRAND TRUST Co.
We have had the Mysteries OF Paris" and they
have been read and undersiood-and we have had
the "Mysteries of New York." and most OF them
have seen the light of day; but OF all the mysteries
at this present writing, the North American Trust
and Banking Company is the most unreadsbe:
When this institution went into the hands OIL the
receiver, the stock was supposed; by those who
knew something OF its affairs, to be nearly or quite
vaueless the character Of its asset. at that Time
not having been fully developed, and the accuracy
of opinion on the subject open 10 some doubt; but
after incubation OF nearly two years and half
by the receiver, we are apprsed by somebody
through four several articles that have appeared the
first Of which was published in the " Herald,
(shadowing forth the intrinsic value OF the stock
as being doubtless worth IS per cent? the two
next in the " journal OF Commerce." having refer
ence particularly TO the trusts, and the fourth
in the Courier and Enquirer" and they all bear
internal evidence OF one paternity, that the poor
stockholders have really something 10 hope for
Now the aim and end OF these ingenious and ho-
nest articles have been TO initiate the price Of the
stock, and thus invite the unwary and innocent TO
invest their means In a worthless speculation and
the only inference that can be drawn by those who
have right 10 interpret the dongs OF others ls,
| that somebody became purchaser OF the stock
| when il nearly down TO 0, and that that same
somebody has made and is making stalking horse
of these high-prced articles to sell out and pocket
his thousands at the expense OF the gullibllfy ct
the crednlous public! Truly may New York lay
claim TO being the pattern card OF human nature IN
| all its phases!
| hui the recent brochures from our friend, David
Leavitt, Esq receiver, delightful specimens OF
| light hteraure-perfecty uniquc-indeed they are
| historical novels OF class unexampled in their
structure and design---wonderiuly picturesque in
escription--Iemarkablc tor their dove-taed in
genuiiy, and repete with the most varied and mar
velIous incident; and his accompanying essays on
the modern science OF Reputation are SO clear and
truthful, Astounding as they do IN The brightest
scintillatlons of talen genius and The puiest es-
sence Of this moral philosophy, that they seem to
| be not only the honest reflection of viItuous
| mind but the strength of their argument is SO con-
| vincng, that is almost inclined TO waive his
| own views Of equity towards others, and adopt in
full this faith, all It's honors, and rest his re-
ward upon the generous opinion OF an enlightened
We had no idea before, that the receiver made
any pretensons to scholastic atlainments beyond
| those popular and useful branches OF education
| usually denomnated "readin, ritn spellln and
| rithmetic" Nor had we any idea that the doctrine
| of Reputation bore any relation 10 him beyond
merely discountenancing the extraordinary pro-
tence of the general government, TO collect duty
| on lead! We know that gentlemen very honestly
| entertain various and conflicting views IN respect
to what is due to our general parent or any out,
side barbarans," and IL may be that the successful
| repudiator is the most vlrtuous Christian, rious
man and estimabe citizen, and worthy Of especial
praise and commentator. Now, as we live IN an
age of wonders is not extravagant TO assert mat
the atmosphere of Wall street possesses vitality
extremely taking and that II is strongly tinctuled
with greatness, leading some men to an elevation
beyond their desires; but then we know that
" some men are born great-some acquire great.
ness, and some have greatness thrust upon the m.
| We have been accused OF being vain-gorious
people and fond of descant in ambitious te rms
of what we are and what we shall be. We m ust
| acknowledge, however, thas we have arrived at a
| state of perfection in political economy unprece-
dented-that New York is magical CITY, per So,
the state is an empire of the noblest elements, (
nanciering particularly the whole United States
is the country, and the most wonderful cis-
atlantic people on the continent
Il GHOST OF THE GREAT TRUST Co.
This is a specimen Of a variety Of articles viii oh
we have recently received, endeavoring to blow up
David Leavitt, the receiver of the late exploded
North American Trust Co.. and by that stale trick to
change the issue in the controversy before the
public. 1t is utterly futile In that awfsl EXPOSE
ton Mr. Leavitt has but done his duy-thc public
will esteem him for it-nor the late managers of
that company turn aside the public feeling from
their astounding and startling conduct. Indeed
the report of the receiver s only the beginning Of
these Wall street developments. More terrible
.. disclosures are yet to come. Only wait little
while. In the meantime we repeat that President
; Tyler should look into that matter in connection
with the postmaster of this city Something must
be done.