The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-11-09
and how many lives might not be lost in the

| circumstances, ana Wncn tne views OF INC ieao-
ing men of all parties shall have been broached
and debated in the ensuing session of Congress,
that the selection of boundary line OF our own
choice, which will give us as much territory as
will wipe out the balance Mexico owes u.s. VIII
be the mode adopted in our Mexican relations
as it certainly appears at the present time 10 DC
the most feasible and the easiest
There are other questions OF public interest," on
which the next Congress VIII be called upon 10
act-such as the river and harbor bill, Sc &C.
all of which will be brought up.in such way,
and directed in such way, as to make up what
the lawyers call a case, which will be submit
ted to the people in ls4S for their adjudication,
they being the tribunal of last resort for the
settlement of political questions in this republic
PUBLICATION OF BANKRUPTCIES. One Of the
most curious incidents in the commercial revul-
sion now going on in England, is the remarkable
publicity given to the failures, and the subse
quent Investigations made into the causes of the
failure of particular houses. Every evening and
morning the London journals give an account of
the houses broken the day before, with every
possible Information in relation to their condi-
ton assets, Liabilities and final liquidation. But
this not to be sufficient to satisfy the
public. Committees are formed to Investigate
the conduct and condition of the fallen houses,
and reports published, giving full particulars
in each important case. What wonderful pro-
gress the world and the newspaper press has
made in ten years!
In 1887, exactly ten years ago, when there was
similar revulsion in this city, it was thought
most heinous offence in public journal to al
lude in any degree to the failures taking place in
the commercial world, or to give any of the par
ticulars about them. This journal was the first
which attempted course of freedom sub
| ject of such vital importance to the commercial
world at large, and involving the question of
| freedom Of enquiry. In such revusion, In
which thirty thousand bankruptcies took place
within the compass of year, the world at large
was interested in every thing connected with
such crisis. Yet so slow had been the progress
of the newspaper press, that it was attempted by
some to prevent every information being given to
the public Now, however, the stands diff
fcrent, not only in England, but in this country,
and elsewhere.
The newspapers are now expected to give full
particulars of every event connected with the
calamity of the day, as information necessary to
be known to the public, necessary as guide in
the principles of commercial life, and land
mark in the direction of commercial legislation.
COMMERCIAL LAW AND BANKRUPTCY.-A great
deal has been said, and something has been
written, in relation to the peculiar case of bank
ruptcy which lately occurred in Wall street,
growing out of the European revulsion. We al
lude to the case OF Prime, Ward s, Co. lit
seems that this house, in order to protect their
bills of exchange upon London, conveyed, be-
fore, the failure large proportion of their pro-
perty to the other side of the Atlantic, leaving
about four hundred thousand dollars of deposites,
and perhaps another four hundred thousand in
ordinary debts, whichswill be poorly pro-
vded for. In the absence of any bankrupt law
| of general character, several of the American
creditors have commenced actions under the
so-caled Stillwell Act, IN order to recover some
of their property made over to other parties, or
it may be to involve the house in the charge of
imputed fraud. Without imputing dishonorable
motives to this once highly respectable house.
must say that this most glaringly shows
the necessity of general bankrupt law, affecting
all the commercial relations in this country 1t
also shows the folly of former Congress, one
year enacting and then the next year repeating
such law, after many bankrupts had washed
themselves white by its operation-many, no
doubt, honest persons, but good many of them
undoubted rogues.
/ According to the present aspect of commercial
affairs in Europe, and here also, it is to be feared
that the calamity reigning there may extend to
this country, within certain time. Would it
not be well if the Congress which is now about
to assemble should re-enact general bank upt
Jaw, with such notifications as would provide
against abuse, and also against such lamentable
| Of baya
the case of Prime, Ward g. Company?
Such a suggestion is well worthy the conside-
ration of the approaching Congress-.
SHIP LAUNcH.-A ship launch of some interest
will take place this morning, at 10 o'clock, at the
yard of Messrs. Perine, Patterson, s. Stack
head of Water street. The ship herself is worth
seeing, and although of mammoth size and i'm
mense capacities, she possesses all the symme-
try and grace of a pilot boat. She is called the
Jamestown; her burthen Is full 200 IONS, with
beam of 3sa feet, a hold with 23i feet depth,
and measures III feet in length. She has a
thick cardboard streak, which is fastened with
thirty-seven hundred pounds of copper bolts
The keel and nelson's, having very heavy bilge
streaks and clamps, are all extra fastened, strong
and substantial, and double the quantity usually
put in ships built in this city. Her deck and
hanging knees are all natural and unusually
large, well placed and exceedingly strong.
She is owned by Messrs Slate, Gardiner &
Howell, and Capt. Trask, formerly of the packe
ship Garrick, who is to command her. She is
designed for the Liverpool trade. 1t was the in
tention of her builders, from the onset, to make
the jamestown as perfection as means
skill, and taste, could accomplish. How far
they have succeeded, can be seen in the beauty
OF her proportions, in the finished workmanship,
and in her great capacities
The LATE ELECTION. shows the
folly OF the political parties of the day shouting
| victorv more than the results of this eIect;on