The American. [volume] (Washington [D.C.]) 1857-1857, 1857-10-14

are not able to pay specie, nor because they desire
to relieve the community by extending their
discounts, for they are not discounting At all
We can see no sufficient reason TO justify the
course they are pursuing; and we should not be
surprised If It should provoke an inquiry into their
rieM to transact the business Of banking at all
What right have they to offer Us their bills
when we ask them for the gold We deposited
with themi Would they take our note for debt
We might owe themf No. Then why tender their
notes for debt due us and refuse TO pay US
speciea
PHENOMENA OF THE PRESSURE"
We copy an article, thus headed, from the New
York Times, which will be found in another col
umn. The writer alludes to the reign Of " Nick
Biddle" the money King, and describes the scenes
that took place in New York in 1887.
/ We well remember those times, being then
citizon Of Philadelphia. And well do we remem-
bcr too, the visit Of Mr. Biddle to the city of New
York after the great fire; how the New York mer-
chants beseeched him for aid and comfort" in
their day of adversely and distress, and how
promptly and magnanimously that relief was given
| to the extent Of three millions If dollars. We
remember also how ready the New Workers. were
to requite this favor, for which, at the moment
they could not find words sufficiently expressive
for their grateful feelings. And how did they re-
quite the noble actf By joining in the hus-and-
cry Of denunciation raised by the Democratic
party against Mr.. Biddls and the United States
BANK. 90 'one - NO "as .ne .onsy Ains NO
monarch eser nau ms a1o.e Aa''efefs' "
received more srAe''ui tof 'A.uss eap'0'e0!
But wnen the eAIsoy .nAn0 .. seinpes. %
1857 overse' sno A'AAA' 80 -. 1'u.o - 'els
Powerle''' " n'aA 80 A''1
I vmnea, NO, mor7 unJus1y.
MT. biodie occupied posuon ior many years
that enabled MIN, ne nao aoopted the ethics OF
the party that 80 nerceiy Warred upon MN, namely,
That good o.o rule, me simple plan
And he shslI Keen who car. -
to have become the richest man in America and
vet like the younger Pitt, he died poor.
The people Of the United States were assured
again and again, by the Democratic press, that
Mr.. Biddls and the United States Bank had caused
the crash Of 1887 all the vials Of Democratic
wrath were emptied upon his devoted head, and
such were the denunciations heaped upon him by
host of Editors, animated by an infiriated party
zeal-some of them undoubtedly expressing their
honest sentiments-that hundreds Of thousands
were made to believe, and believe TO this day, that
he was no better than "Old Nick himself, If he
we're not in truth, the identical "Old Cooty."
The history of the war between General Jack
| son and Mr. Bidde, or the United States Bank, is
but little understood by the great majority of the
present generation and, as we think IL would be
found to be full of interest," 90 we'll as important
to correct many false impressions and prejudices,
we may perhaps indulge ourselves in presenting
brief narrative of It, hereafter, to our readers.
WISE vs. HUNTER.
We had supposed that Mr.. Wise had been
Withdrawn from the Senatorial contest In vir-
ginia, but It seems not The Enquirer, In some
remarks In reply to the Alexandria Sentinel, says
that the pos ponement OF the election OF Sens
tor for two years might indeed lead to dan
gerous division in the ranks of the Democracy Of
Virginia. We say dangerous division, because, In
the event, at that day, of any such contest be-
tween Senator Hunter and Governor Wise, as Is
now not unlikely to arise, the disagreeable or un-
kindly recoIlections which might be left on the
minds Of some Of their most ardent adherents and
friends would have little time to fade away before
| tho nomination for the Pres;dencv--but Ca
-. .,.h-sa,.a. rs. rra,,,... 60,
non''', .uv -, ~. nnqulo, iu,,ne' -,
CUES that M. hunters silence under the calls
made upon him, may render an election this win
ter Imperative a. a means Of passing Judgment
or condemnation .oainst him. and in bebsN - ,he
| .a,.,n;.,,.,;on ~ =
"'m III ~
mr.. hunter WIN declare himself in favor OF
the administration, there win be no advanced
battle over his seat in the Senate If not he
80. - - ~. ,esoy - ~
'niru oay =. Ascn, loos.
There, MT. Hunter, is tho law and the terms