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Newspaper
Alton Observer
Location
Alton, Illinois, United States of America
Date
May 18, 1837
Page
3
The issue covers widespread financial distress in New York and New Orleans with bank failures and job losses. It notes heavy specie shortages and rising discount rates for southern money. Mexico-U.S. trade frictions threaten scarce liquidity while Texas migration rumors surface amid broader economic gloom.
The Boston and New York exchanges report frequent business collapses with A. & A. Lawrence among notable failures. Boston lists 26 failed houses between the 15th and 24th, while New Haven sees ten to twelve, depopulating mills and leaving workers without bread. Pearl Street and Wall Street suspend major houses, Bentley & Co. and others falling, Arthur Tappan’s failure shocks circles.
The piece details Nickpatrick's vast underground lead ore dig in Dodgeville Wisconsin Territory. The four by six foot trench runs nearly half a mile under the Pickatolie river, at depths up to 60 feet, with candles for light and a cost of 10,000 dollars. It has yielded extensive ore, over 600,000 pounds so far, valued at about 25 dollars per thousand, surpassing estimates and promising wealth for Kirkpatrick and successors.
The New Orleans Bulletin reports the Mexican armed brig formerly the Farmer was captured after resisting demands to release the American schooner Champion. The Natchez fired on the brig, which surrendered, and was ordered to Pensacola with a prize crew. War fears rise as events unfold.
The Journal of Rev. J. A. Thome notes St. Thomas Denmark shows a diverse colored populace in business from hats and shoes to hotels and ship clerks. Other items recount a Ball death at Port Louis, waltz tale, and a slave abolition petition tally across states totaling over one hundred thousand signatures.
At Lyons and other silk centers like St. Etienne Nismes and Avignon large numbers of workers are left jobless. Portuguese guerilla chief Remendo was defeated per Lisbon reports dated March 16.
The report cites an insurrection near San Louis Potosi and mentions a rope from Mr. J. Grimshaw in San pa is 4000 yards long, 7 inches round and twelve tons, valued at about £400 for London and Birmingham Railway use. Daily assassinations in Mexico city averaged low levels last month.
ACKNOWLEDGMENT No 4. E. Jexxey, Agent of the ABC FM, for Illinois, acknowledges subscriptions and payments from Payson Hillsboro Bethel Collinsville Vandalia Upper Alton Tremont Pleasant Grove Farmington and others. Merchants in Alton announce removal to State and Third streets and offer tailored garments and guaranteed fits. Boarding school for girls.
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