The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-27

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On NORTHWESTERN BOUNDARY DIFFICULTY
WHt's IN THE WNDs-Our special teIegraphic
adves published yesterday from Washington,
on b subject of our Northwestern boundary
.dispbe, are not as clear and satisfactory as we
'coul desire. We have first the pleasing in
46rmtion that the despatch of Gen. Cass to
Lori John Russell, "while firm, digniied and
'deciedin its tone, will commend itself to the
hearv approval Of the American peoples" but
this Immediately followed with the apprehen-
sion bat the language of the British ministry
ON thq subject twill require good deal of for
bearaaoe on our part" Next, 1t appears that
all thu instructions from Washington to Gen.
Scott re peaceful and conciliatory;" that sour
government will probably disavow the conduc
of Gen Harvey" and that copies Of all instruc-
tons, 10Th to Harvey and Scott, have been for
wardet to Mr.. Dallas for the information of the
British Cabinet Finally, our correspondent
says tht these instructions "may serve to pro-
duce ,hange in the aspect of affairs when they
reach london"
Now, the enemies of the administration NAV
infer from all this that the belligerent bluster-
ing Of tie English metropolitan press concern
ing the occupation of the disputed island by
Gen. Haney has created some anxiety upon
the subject at Washington, and that Gen. Har-
ney and he island are both to be sacrificed to
appease the wrath of John Bull. We
dare say, however, that neither Mr.. Blu
chanan nor Gen. Cass has ever con-
famuletad or will ovar cocsoot IL
humiliatirg sacrifices or concessions for the
sake of preserving our entente cordiale with
England. If the act of General Harvey in
seizing and holding the island of San Juan by
a military force Is disavowed, it will be be-
cause of his violation of the law upon the sub
ject-the law Of our treaty sapulations. And
so with regard to the disputed island. twill
''clear and unquestionable."
We believe it to be perfectly clear. And
upon this point we have just received, in a pr
waite letter from London, an interesting item Of
information. It Is to the effect that, some
where about the year l845, Lord Aberdeen, in
a letter to Mr.. Louis McLane, our Minister at
London at that time, admitted the Haro chan
mel (Which gives the disputed island to the
United States) to be the true boundary This
was before the ratification or conclusion of the
Oregon treaty; but this admission of Lord
Aberdeen will none the less contribute to
strengthen General Harney's Interpretation of
said treaty. In any event, as Mr.. Buchanan
was Secretary Of State pending the negotiations
resulting in that treaty, and as General Cass was
then member of the Senate which ratified it,
we may rest assured that both these expe-
Eienced statesmen thoroughly understand the
whole subject, and will bring it to satisfac
tory conclusion. In the meantime, if our
Washington correspondents could furnish some
information upon this matter, not quite SO
muddy as this which we have been consider
ing, 1t would be very acceptable.
BOGUS BANKS AND BANKRUPTs.-The recent
Developments concerning the Colchester
Bank have resulted, as such Investigations
usually do-that is, the Dogberrys of Connect
cut have promulgated some muddy "deci-
sions,n in which there is not the slightest shade
of anything decisive, and which wind up like
the verdicts Of Coroners' juries in the matter of
railway accidents, with the consoling intelli-
gence that nobody is to blame; that although
somebody was swindled, it don't appear that
anybody did it; which is very common conclu-
sion of country justices-so common that it ex-
cited no surprise in financial circles here or
elsewhere. There is to be another examine
ton of the matter in November but that its
result will be similar to that of the first inves-
tigation, there can be but little doubt.
And there will be plenty more of these bo-
gus banks, which are gotten up by fnan-
ciers in this city, in Wall street and
Broadway, and located in the State which
4. happens TO have the most elastic banking
laws or the most piiable Legislature. Sometimes
the charter of broken down concern in Mas
eachusetts is revived, or shaky Rhode Island
bank is propped up with bogus securities or
bran new mill is set going in Connecticut or
Maryland. The issues, varying in amount from
city to one hundred thousand dollars accord
ing to the market, are put in circulation here;
Bank Commissioners are humbugged with imi-
tation securities, and when the time of re-
demption comes, the affair melts into thin air.
And rural Dogberrys tell us again, there is no
body to blame. Notwithstanding that as much
as seven millions Of this bogus money has been
issued during the last ten years, the law is al
most powerless against the fnancicrs who have
manufactured it. In one or two cases criminal
actions have been maintained and bank swind-
lers properly punished; but these are so few
as to be exceptions to what should be the rule.
The only remedy for this state Of things is the
adoption Of general bankrupt law, such as
Mr.. Buchanan recommended to Congress in
the last Message Such law, while it
gave ample protection to the honest
debtor, would afford swift and speedy
means of punishment for financial swindlers,
high and low. The only way to stnn bogus