The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-19

Are the banks solvent On0er the Law t.
What II Insolvency!
LETTER FROM CLINTON ROOSEVELT.
TO THE EDITOR OF THE HERALD.
Seeing In the HERALD extract from the Albany Argus
on the Suspension spcole payments In 1887, recalls to
my mind circumstances which have never been pu ,,
Hshed, ard which tho public ought to understand
may be recoec:ed that the relsor elected to the
Assembly OF TIN State By that much insulled, honest
party styled b. liz enemies the red mouhed fire eating
,ocoiooo ray whose very breath was redolent Of fre
and brmaons they did not AID that We ali hsdsaucsr
eyes and ogre teeth, 90 much the better.
vile abuse and reckless misre presentations
cule FOR utter dsrsgsrd Of tho,e who exhibited Of
the Characterization Of high bred honorable gsntleso tns
belongs TO tbs writer, should he in this srtcle
cbarAc.erse hings ns saw and felt In IN polished
Saxon
The banks tina, time having expanded the currency
monsly, the write' moved inmed lately for nves
tsatcn declaring at the time they wonid all fail
less restrained The idea n ass incompreheu,bie
bat bis point Was carried, and by pa,iamertNy Law and
uiage he WAS entitled 10 maj rity in IA OF the
purpose or the committee snd to act AZ caairm BIT
toe sae ana bans,is wars aroused 4 preveai 1e In
vesgsson. Accordingly they aocked TO Albany, ssd hal
RECOMMENDATION and INK dire,or was appointed ~
conductor OF that sham investigation, with III
meanisg msn, who mgai CARLY be hood sinked
ana led biindiy to wrong. For, afer ALL
when under great terror or nscs,sy. II is Indeed,
generally weakness more thA1 malice aorehougn which
clu,es men to tve way 70 temptation against .aes Deter
able brought In report thst hc bSnxs with hardly
exception, Dad ali been eel and prudsny CONDUCTED
But before the false report could be printed the loud
por, OF their universal failure resoundDg through
toe hs Of the Capitol and ~hs; had been predic ed By
the writer came to pss even so'ner than he hal himself
The good reporters b.rsly knew which way to look,
aod were really pLa6e oslecs, but hm not 81 81 aG,t
u paid for it In courts Of 'stice than who
sWays tells the truth; and bAnsiSg government NUT in
some way pay IL bundle servants, while at the saue
time they musi pgeveIt oil honest OF unyield ne
principles from after taking part 10 such
eminent rhos rsllmAtge the CHAIR OF toa. white
Washing co M uxe has ,sacs been Mayor Of ooklsn
Tell not in Gath. or sIch stuff are oar legislator
made.
BY the way-;n England, there IL class O. worthless
connected with the legal profession, there 10 here,
whose business 10 30 swear Ia court over sticking
times termed 'grsw shoes" from their siga--sraws In
the acheu Of their shoes-As they perAmbulAts the pur
necs OF the ,smps' o. ;aanos osSsf a@ss ,.sa
good 10 seecI ther representatives and to excude
all ossers they can nom oil share IN The government BY
tteir works let them be known none sscYia,ed their
h,rsr oAsns 70 pass the Suspension or
1887 then have harsh 10 these expressions.
Bu, let 70 TO lhe Of un published history
B,nk .rcers thronged from All paris OF the sa.e and
pa Ecd tho e the ospe and crowded the
ss
coercc the membtn 10 "relevs" tho soullcss cor
porstons, while 10. ooe word ". said, more
notsa OF private merchants or mechanics, excepting
By one iwo who probably threatened BY asony
th,sgnt II most prudent 10 20 Armed self defence al
t.nugh, 70 be surc, mous threats arc OF ANAL -
count And yet kno ~ what desperate fool nay
"Foos rpsh In where angel, fear to tread"
ywo three such 10, the writer In saother
way. For instance, occasion Rogers len his
sesi came and up broad negro laugh, on
grave "a o)eos OF debae, while the wrsr speaking
He nAd evidently been 70, %, had mstmcd hsl Augn
Wher,oa se Quoted for hs bsre m sphossm from To-
water wfo obscrT % ih, the ouc IL the certain In
dcsnon OF mind" ana Dr.. johnson furthermore
sof oil ths lis With ohlch MN 10 curs,,
The laughter OF q blookhesd 10 the worst"
INN o1Ay aked leave Of absence from The arduous tolls
o. cg,sarr everybody meeting him thereafter VITA
piessatt smile.
Ano her SCI got up secret conspiracy 10 force the vr
YER 10 r,ugn his scat but the rnoas flashed IN the pan
and ne YER dared rep
However, tbsrs we're some honorable rnsn who we're
privately teri friendly while openly Ia opposition,
ed u thak they Irritable In tHmplng on the
contribution wfe.ches a. sea and starving may oevour
1f the weaker Ct their number 1ndeed thit NE
natural instinct OF al eeass Of prey and IN sxrems
sbe 10 fall 70 ina, low state, Mon we're 10 ruch
idsred .cco-a,ssie ssirs. Dor Old uoy -, a. such
generally they violated rer osths 70 sustain ihe cen
riiniisu, nor couid they deny when toe facts we're
placed before lhe Hoate 10 the mist emphatic
when the suIperson act was brought or~srd An A.
tempt 10 drown the writer's voice vA first made BY =
violent ciamor Bet es sad'-Genssemen, have The
nar. know my fiahs and ANAL maistAn hem. | will
hold the door svetk, necessary, until hare silence
when The silence was restored the writer, s,smnly
iai,if his right hand, House-csunol7As
-ibir- ac,--vrboul- 90 nultune-periary and by The
TIE lsrgs bill 30, open before him any may fancy
from the effect he'd ~ throwing up 70 bis FEET she
shr CRY, al call The seu,iemsn from Me- Yo 10 order
Turning 70 thai rishi honorable gentleman, the writer
sad quiet, nc va happy % % called 70 orser ey me
dsred 70 have met lie should accordingly demand 10
have the o. scons placed In vriusg according 70 The
RAGS Of The dOute, hat be mghi answer tnem and Tor
ins irpOse he volld now Jake bis SEA-,
1be banf advose who had ,he repsision o being the
:, ready vain the Hoa,e ana ss.ss, whom me writer
bad betn stood nst foot and then On The
CHER struggling for u,iers1cs but q, length sat DOM
without asain speasrg word. Tho writer, iherefyre,
from Monroe resrscs therefore repeat the ooser
walton maze Th.s VI luse cannot pass this act
On ,ss ,or We s.pre 10 ,uppo', Inc csnuson 4 he
pted Ates Tna Constitution sa,s, NO stsie sha PAYS
any Tyn (ac av, Or law mpafins me obnrauon ofcon.
wsieh sl,er TIE penalty Of crime, after IN. penalty
Incurred
for sSspenong specie paymeop, and must suffer H.
kven the Barb OF England hsd not dared 70 surpsnd
frs, and then ssk for 10 muny bot had aroused ms Par.
lament Mt MID ghi 10 obtain leave Suspend specie pay
inert ~ notes But our bst kers had 1rs suspended
ana then 10 demand reles,e from The legal penal
IT, Nor bn all The bill holders were 70 be restrain.
Cd from Sc king her remedy ~ lag while the o,uker
we're sl.ov,d " Withdraw accommodation and raise the
vshs q mcney djuble, ptfbtps compare1 vim m "a
Ice Uheroaus made and rob me people 10 81 lnca
on able extent Insisted ihss tbs Was citation " Coz
ira even ersster than ina, of fits.sg BANKERS from the
obtgaots 70 pay b. holders, aod that the overiTad.nf
witch had caused the suspension VA brought on w over
bsnkrg. ard banking corporations being TIE stronger
rarty oueh moi 10 be favored Asan, pvsse individual
rzsns and given The benefit iass OF their oTn wrong
a~ and equity ~ ell ~ tue higher hr he con
talc,lon we bad al sworn 70 sustain.
The id soult-iff may % term tnem-rAted foi
zone FOR some one TO rise AMI snsser, put do
rot remember that any answer '1 ever attempted. IL
10 plain recitation poss BILE Inc memoeri ala tne
botns q lser masters, the bsnkefs and II hey nave
sors and fouls are 10 be damned FOR perjury, sub
y ned whether or no they have Justly earned the appel
laNcn sc rave gwen them rhia II very brief hiuofy
" We sos of that suspension snf the betrayal OF the
hte Col FOR The almighty PAPER dollar y
Ana GOV whs 10 Tho practical lesson ~ th1 axreresoe
convey tn,vsr Oar form o. government 10 not even
sood farce II u deb0 ~ 70 all the CHER surbutes OF
the human soul ken are generally elected 10 ofhcs sy
bsnss, nov bectrse they viii resist CORRUPTION, bat be-
cause they VII give Advantages 70 The few the MANI
ohie those who are Known 70 be ncorruptibe and
corqueraoe n honor ana orar ,nd irue PATRIOTS On,
are generally o,usoised By sig dominating commit