The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-02
Our Nebraska CORES pondence.

OMAHA CRY, N. T., Oct. 20, 1857.
The Bank Panic "A,cay Out Wesf-Hou Stands
the Frontier Money Marke?-Ups and Dozens of,
the Spectators Life Out Vest General Den
po's Mission TO the Pa,onee Indians, &c.
We have panics in Nebraska as well as elsewhere,
and just now, particularly, panics on banks. Not a
bank in the Territory-and there are no less than
seven-whose money the masses of the people even
here have any confidence in. The Bank of Fonte-
nellie at Belleview, the Western Exchange at Omaha
City, and the Nemeha Valley Bank at Brownville,
have "gone under" with a hope Of resuscitation.
The rest of the concerns are not exactly closed,
but not considered in any degree safe, and their
notes generally discredited. The Western Exchange
Bank at this place think will pass the ordeal safe
w. and although virtually closed their bills are
not sold at sacrifice owing to the confidence in its
owners However, it would have been far far better
had our Governor never affixed his approval to bank
charter in Nebraska Hundreds here have found what
little money they have in the world here swallowed
up in one quiet move, without resource, and with
their household wants for the winter unsupplied
The universal " hard times" which just now seems
spread all over the country affects us here on the
frontier more sensiby than you OF the East, sur
rounded by opportunities to withstand the crisis
better than we are. Every bank bill is considered
doubtful and the farmer merchant, mechanic and
professional man all ask for gold and demand gold,
receiving, however, good paper when the former
cannot be had. Money is scarce-remarkaby So
and what little there is to loan readily brings from
three to six per cent per month. Property of every
description owing to the outside pressure, is sell
dom sold or, when sold, at far less figures than last
year at this time. Here more particularly, where
Spectators wont to congregate, property can be
bought for onethrd less than last year. Those who
sold before the outside pressure" commenced done
well; but those who bought them at round prices,
expecting continued rise in property are decidedly
"sold." 1t is an up and down life this life of the
Western speculator-a see-saw game, and now the
plank is broke and both ends are down.
But there~are better days coming, and all are
looking forward quite anxiously. Had it not been
for the extra large crops raised this by our
farmers, know not how bad this "outside pressure
might have affected us the frontier. Indeed, ii
would have been difficult to imagine. Ireland ask
ing for bread would have been nowhere" As it is
will all weather the winter in good style, with
plenty of potatoes corn pork &C., to dispose of to
the spring emigration when they come.
Since my last weeks letter to the HERALD have
conversed with an intelligent half-breed Pawnee
who says the treaty reported to have been made be
tween Gen. Denver United States Indian Commits
siOner and the Pawnees, Is not completed by any
means. Delegations from the tribe on their way
to Washington. 1t is hoped the lands will be OBJ
tanned, and this remnant of filthy tribe will be re
moved beyond the pale of civilization. They are a
treacherous and heving race and in the treaty the
lines should not only be accurately determined be
yond cavil, but the Indians themselves removed
beyond this line.
Snow fell here day before yesterday-the first re
spectacle storm of the season. The land Offices
open throughout the Territory-four in number
are all doing good business with pre-emptior
claimants.