The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-11-24
EDITORS CORRESPONDENTS
From our regular correspondent

~
lFrom our regular correspondent
New YoRK, Nov. 81, ls45.
This morning we received the news by the Mas
sachusetls before the opening of Change.
$500 barrels Of -four sold at sc rs.
In consequence of the extent Of the news by the
Britannia not being fully known on Change trans
actions were lighter than they would have been. Il
seems financial crisis has arrived in England.
Consols have declined TO 96, never-failng indica-
ton of tightness in the money-market
Breadslufis had improved, while cotton was some
what frmer. The news, however, is probably be-
fore you in full before this timc which renders II
unnecessary for me to say more
The following interesting incident in the life Of
De Witt Clinton, has been related to me on the best
authority. 1t goes to show his sterling integrity of
character, and that he was not only pure, but de-
sired to live above suspicion.
II seems that ut period Of his greatest Perplexity
and embarrassment, when there appeared to be an
impossibity of procuring funds, even on the faith
of the State, TO enable him to promote his darling
object, the prosecution of the Erie canal, mere
chance put him in the way Of realizing his wishes.
So little confidence was felt in his great enterprise,
and SO violent was the opposition to wasting money
on ttClinton's ditch,n that none of large means
in the United States were inclined to invest in the
loan for this purpose. To all appearance, his great
work was likely to be indefinitely postponed if not
entirely defeated.
About this time, the celebrated house of Leroy,
BaYnrd, a. Co., one of the most eminent firms in
this CITY or in America, was transacting extensive
business with various ports in Europe and especial
w on the continent. They had their correspondents
in Holland, in France, and, indeed, in every COM
mercia city in Europe of any note. Their chief and
confidential clerk who had been out as spcrcargo for
them TO Hamburg, Amsterdam, and other continent
tai cities and who is now at the head OF one OF our
best established and most respectable firms in New
York told me that, on returning home, and hearing
of Mr.. Clintons difficulties, he made the following
suggestion to Mr.. Bayard, who was great and init
mate friend of Mr.. Clinton.
The house of Leroy, Bayard, Co, were the
unwavering supporters Of him and his gigantic
scheme. The head clerk alluded to, one day said
to Mr. Bayard that he thought of plan by which
Mr.. Clinton might succeed in raising funds at a
moderate interest to carry on the canal "Ho,c?''
inquired Mr.. Bayard. "Why, sir" continued the
clerk, ''when | was in Holland, observed that
money was very plenty, and was loaned at muct
lower rate of interest than is current with US.
am led to Think if proper application is made to the
capitalists in that country, backed by the necessary
explanations, they would be induced to subscribe
for the loan. Mr.. Bayard thought very favorably
of the suggestion, and believed that through his
correspondents, he could very materially aid Mr.
Clinton in obtaining the money. lie determined to
proceed to Albany, expressly to see him, and unfold
The plan to him. When he reached Albany, he im-
mediatcly sought Mr.. Clinton, to whom he freely
communicated the suggestion of obtaining loan from
Holland. The latter heard him with earnest and dig.
n6ed attention, and, when he had concluded, thanh'
ed Mr. Bayard for the hint, expressing his approba.
ton of the measure, and his willingness to avail
himself of it.
"But," said this great and good man, 81 cannot
employ you, or your house, to make the negoua-
ton. Every body knows that you and myself are
intimate fricnds--tbat your house supports my
views. Were to employ your house to transact
| the business, my opponents would immediately
charge us with COLLISION. To transact the business
YOU would be entitled to n commission; yet, offering
| 10 do il for nothing, as you propose, would make
no difference to those unjnsty suspicious OF wrons
where none is intended To negotiate this loan witt
the capitalists of Holland, l must employ parties
whose relations of friendship are not 30 intimate al
ours F"
Mr.. Clinton awaited himself Of the suggestion
and afferwards succeeded in obtaining the loan, q
believe, J through the agency of a foreign house.
By his conduct in this case, he displayed a noble
quality of soul He not only wished to avoid do
ing wrong, but to ''liye above suspicion"
! have never seen this statement, SO credltable
to the great benefactor Of the State, in prn hence
| feel the more pleasure in communicating 1t FOL
publication.
Ciy, 1 pas. a, p. n.-Flour closed firm at S6 81
About 800 bales Of cotton sold to-day-no marked
change in prices. ;,
Exchange stands at St to 81 on London-tenden
| cy downwards.
No arrivals or clcarances Of Importance to notice
to-day.
Yours, truly, &C.,
q