The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-09-27

The COMMERCIAL PANIC AND THE CABINET PANE
Tue SECRETARY OF STATE, AND Tx RECENT DY-
ypeuLTY WITH FRANor-The Philadelphia North
American, which 10 well known 10 be in the inte-
rest Of Mr.. Clayton, to the extent of SO, 900, has
undertaken his defence in respectto the promulga-
ton Of the "facts connected with the French
difficulty The particular charge against Mr..
Clayton was, that he had sold out the official facts
upon this French question on a speculation, and
that the exclusive favors shown to Mr.. Harvey, in
the communication of the details, may be tracked
mp to the loan Of ESQ OoO made by the Secretary Of
State 70 the North Amsrieas newspaper
The North Am0loan makes out a sorry defence.
Its statement Is simply this On the l7lh inst,
Mr.. Harvey was called to Washington on private
business, (private business, no doubt, with Mr.
Clayton. on this very quesuon.) On the 18th, the
-Jo,1aai Of Commerce and baltimore SAN announced
the dismissal Of MIR. Poussn and the american pre-
sumes il was irom information from one OF the TO-
reign legations, and says
"Upon the appearance OF this intelligence In view Of
the s.psrture Of the steamer ON "wednesday the 10th
snt and for the purpose Of preventing sp~eustions
Injurious to our commercial community,
pendent immediately applied for all the facts OF the
Tor the double porpoe Of ting false impress
soBf sbrt add and At the time Of furnishing re
bic in,ellg, At home. There hssitstion At
Warrington In responding to hs application, sud the
ssm. iaeies open every rsspsctsbie joarnsi,
shat Ne promptly awaited ourselves OF"
The facts were all derived from Mr. Clayton.
But who would have Gupposed-who could have
beieved-that the warllke pro,naciarneaios Of the
AOri dmoioan were tor the purpose Of "prevent-
ing speculation injurious TO our commercial CON-
munIiyf' II was generally believed that the object
was to create panic, and to raise a great smoSe,
at the ex yense Of the commercial interests for the
Ielief Of Mr.. Clayton.
The presumption that the news was from one
of the foreign legations, is a subterfuge IL leaked
out from the Secretaryof State We have direct
evidence, and can meet challenge fer the proof,
that the Secretary Of State, and his agents and
clerks at Washington, under his pay and IN his in
terett, communicated the facts to the North 6mer,-
and other papers, after vainly proposing in yet
another quarter, to furnish the information on con-
dluon that Mr.. Clayton should be pulled. The
rule appears to be, that the agents must be paid
or their principal pulled. and in some cases, they
demand both Pay for the agents and pufis for the
principal.
Some time ago we were advised by our
Washington correspondent Of the progress Of the
difficulty with the French Minister, with a disclo-
sure OF the facts to certain extent 1t was COM
the way to further deyelopements, we should pub
heb a series Of articles sganst the foreign policy
Of the French government, aud in support Of the
cabinet Believing that our anicable relations
with France were of too much importance thus to
be fifed with-that il was piece Of nonsense
20 attempt to excite national dispute on a mere
baesielle of a few thousand dollars. and that the
commerce Of the country and the progresso of correct
Prirciples were not thus to be promoted, we de-
Glued The offer, and have pursued different po.
hey Ahsn that proposed in the oyerures ofthe State
DepsflNtnt
But We will be a little more particular. On the
18th Ct TIE month we received note from an
sgent d tie State Department, disclosing. to
certain ex,e2f, the difficulties with France. and
requesting asSs puff the cabinet for its course in
the matter, without knowing the facts in the case
We declined tie recommendation, and pad no
further attention 10 the matter. TSe State Dep,rt.
men', failing u commit an independent paper.
subsequently sold out the information to the highest
bidder, Mr.. Harvey, as agent Of the North dine
EFss' spd fugleman Of Nr. Clayton, put in his