New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-02-27

find In Che New Times, the 18Th 1nst second
letter Mr. Peabody Of London. The FIRST letter in
regard to the critical position of his during the late
crisis which published IN several Of the lead
ing journals the United States elected comments
But orciby struck with the contents
said letter. being almost identical with addressed
private parties Ia this city. aud headed CONFIDENTIAL The
of embodyn the Of the oter and
CONFIDENTIAL the general purport Of
addressed influential New York. We
only conclude that Mr. Peabody firm found itself too far
during crisis and wholly nnpre
H. Peabody admits in his hrst Communication that
November last that his appiea
ton for the Bank Of England for 6s0OoOO sy
four millions of dollars which granted and for the
sake u parties this side be permitted to add
thanks the Governors Of the Bank Of England for coming
the rescue.
Here is what Mr. Peabody published his private affairs
under date of the 2lst Of January last
About the 2O November when the money panic in the
Unied States Europe raging anticipated
c difficulties still appalling my house considered
protect its own credit and save many who were
and loss The aecepances my were e.
800 600 mOt IS and application to The bank for
CURED The application acceded and within few weeks
after We took $4,000 dspSsiing ssens Of our 9En 9r the
0O0 although the securities deposited much larger
Of the e. aceepances the OF its
application g the sank We VIII inraer remark sat the
on the aeeeances abov stated given on their account viii
In justice q nv house and to American credit generally
think stated should be make known the American
public. Very respectfully and truly, etc, -
There very little difference the shove aud the
don desired confidential
But the 18th Of January Mr. Peabody, in smother public
Communication endeayors explain away the inconsistencies
making private affairs public In the OF
the refreshing the public memory regarding
three American houses in London in 1871 Virgins wde
and Wilson, Otherwise the three WIS.
( LONDON, Jan. o. 1858.
Raerring letter addressed the Times the 22d inst
the subject Of the loan made house IN November
occurred In consequence Of various
remarks contained In American the subject Of
given for e that advisable state the following
particulars:
This Of the Rank Of England obd the Governor and
Directors from lending hut British securities and
considerable portion deposited by house being bonds
the various States and cities Of the United States rule Of the
Bank required in addition residen would have
securities United Treasury which
addition some personal friends parties interested about
eight number have given their guarantee separate
sns amounting about 600 900 aggregate only
f30D00 which my house received the banks The
who have become the guarantees feel myself and
partners do that securities having been given by firm
The fall borrowed their responsibility Il merely nominal
The circumstances Of all the three American houses
who obtained assistance from the Bank Of England In the crisis
Of S47 having given without other security has
doubtless led the correspondent Of the American into the
to which have alluded
am, very respectfully yours
GEORGE PEABODY.