Banking row over specie payments threatens ruinous stagnation
The Globe notes banks across New York and Philadelphia stall resumption of specie payments, blaming others and delaying recovery. Eastern and Western banks echo excuses, prompting widespread stagnation, falling stocks, and rising speculation as fears of turmoil grow. The piece condemns the subterfuge harming trade and labor, warning of ongoing distress until a clear settlement emerges.
MENTIONED IN THIS ARTICLE
New York
United Bank
France King Opens Chamber with Tight Security
The Chamber of Deputies met and the King entered in state amid vast precautions. Troops lined quays and Pont Royale, with 100 National Guards around the king’s carriage. Soldiers off duty held barracks ready, and access to the Chamber porch was severely restricted. Dukes of Orleans and Nemours accompanied the king amid reports of planned explosions.
MENTIONED IN THIS ARTICLE
Chamber of Deputies
Pont Royale
Marshal Soult
Orleans and
Nemours
Indemnity Paid to Portuguese Government in Galatea Case
Information from the Department notes a payment of ten thousand milreis to the Charge d'Affaires of the United States at Lisbon on November 10th, settling the first instalment of indemnity for claims of Galatea owners and crew, related to the brigantines Ann Planter Osprey Quito Perseverance and schooner Gleaner. The item also railes at shin-plaster currency and political quackery in Baltimore remarks.
MENTIONED IN THIS ARTICLE
Derammes Toy Sraty
United States
Lisbon
Ann
Planter
Quito
Secretary of the Treasury
Treasury
Public Revenue
Congress
House
Man Arrested in Luzrene County Murder Case
A man using the name Gil bert Cummings but allegedly Cornelius Fagan was arrested by local citizens in Luzerne County Pa for the murder of M Combs. He was examined by Squire Ross in Carrollton and jailed on Tuesday evening after the examination.
MENTIONED IN THIS ARTICLE
Gilbert Cummings
Cornelius Fagan
M'Combs
Luzrene Co
Squire Ross
Carrollton Jeffersonian
Turn 'em out and rid of bank destructives
Cin. Gazette urges removal of Whigs labeled bank destructives. The call to turn these honest fellows out targets party integrity and signals a political clash reflected in the New Era opinion.
MENTIONED IN THIS ARTICLE
Cin. Gazette
National Bank Substitute Bill by Mr Rives
A detailed draft by Mr Rives proposes a bank depository system for public funds with up to 25 banks. It outlines selection, oversight, and security measures, including specie payments, yearly audits, and Treasury controls, aiming to counter fears of a national bank and reflect current political maneuvering among Federal and Democratic factions.
Rives Substitute Faces Democratic Opposition Over Public Money Plan
The proposed scheme to manage public funds would restore use of banks with a 25-bank limit and give Congress veto power over Treasury selections. Democrats nationwide express near-unanimous opposition, arguing the party has long opposed restoring public money to banks and will not support the measure. The piece notes a non Opposition paper, the New York Journal of Commerce, carried the provisions of the plan.
MENTIONED IN THIS ARTICLE
Webster
Mesars
Clay
Rives
Boston Advertiser
Bell
Tennessee
Treasury
Globe
House of Congress
Maine
Georgia
Mississippi
Congress
Democratic Party
New York Journa of Commerce
Deception in Bank of England Exchange Plan
The London Courier argues the new Bank of England and branch exchange plan hides a two bank monopoly. It claims direct New York exchange will flood the market with adventurers, widen access, and tax the public for joint bank profits under Cowell and Biddle.
MENTIONED IN THIS ARTICLE
London Courier
Bank of England
New York
America
Biddle
Alabama House Opposes National Bank Resolutions
Extracts from the Tuscaloosa Flag of the Union show the Alabama House rejecting a national bank. The debate cites republican principles and records the votes on two resolutions to support a national charter.
MENTIONED IN THIS ARTICLE
Tuscaloosa
House of Representatives
Alabama
Philips
Friends
United States Bank
Senate
Warranted Debate on Corporate Liability in State Banks
A detailed partisan discussion critiques a federal plan to imprison officeholders while shielding banks from liability. Medill proposes extending stockholder responsibility to corporate debts after exhausting corporate funds, provoking a test vote. Whigs back the measure. Democrats oppose, highlighting perceived corporate favoritism and unequal treatment of officials.
MENTIONED IN THIS ARTICLE
Federal Party
Medill
Yeas
Messrs
Buchanan
Cannon
Carlin
Cook
Crew
Faran
Fowler
Gaston
Graybill
Green
Gruber
Hoagland
Hostetter
Hubbard
Johnson
Stark
Lee
Mathias
Mathews
Morgan
McKee
M’nary
Parish
Peppard
Roller
Smith
Stewart
Thornhill
Tracy
Neil
Ott
Perkins
Quinn
Richmond
Thrall
Phruston
Wetmore
Woodruff
Barrere
Curry
Hughes
Trevitt Resolution Sparks Banking Speculation Backlash
A Perry representative’s measure limits to a single committee, aiming to shield debtors from bank practices. Critics accuse bankers of hoarding specie and seizing property, citing past panics in 1816 and 1825, and warn against ex post facto fears while urging legislative action.
MENTIONED IN THIS ARTICLE
Democrat
Statesman
Parmenter Not President of Middlesex Bank, Bank Owes None
The Boston Post reports that Hon. William Parmenter, congressman, is not presently president of the Middlesex Bank at Cambridge and that the bank owes the government nothing.
MENTIONED IN THIS ARTICLE
Boston Post
Wm. Parmenter
Congress
Middlesex Bank
Cambridge
Canadian News and War Reports Stir Buffalo Audience
A Buffalo Daily Star extract details Canadian liberty cheers and Major General Fuller’s return amid regional unrest. It notes Toronto jail conditions, a reported Duncombe advance, and a Detroit letter from Dr Theller describing a prisoner escape and wounded comrades. The piece lists names of involved U.S. citizens and Canadian locales as it sketches cross border tensions.
MENTIONED IN THIS ARTICLE
Canada
Niegare
Upper Canada
Kern District
Cgien
Puller
Asuiey Fel Ler
Fuller
Webster and the Globe A Question of Veracity
Massachusetts legislators probe Commonwealth Bank records in Boston over Daniel Webster drafts. The bank collection book shows a $10,000 Webster draft dated December 1, 1836, due June 1, 1837, protested for nonpayment. David Webster's May 29 1837 letter confirms the accommodation loan and promise not to be troubled.
MENTIONED IN THIS ARTICLE
Commonwealth Bank
Boston
Massachusetts
Daniel Webster
The
David Webster
Portland
Washington
Charles Hood
Fowler
Bank of the Metropolis
Globe extracts from Massachusetts Bank archives spark debate
In a Boston periodical debate, editors of The Globe publish excerpts from bank records tied to Webster and his speculations. The MA Legislature committee examines the items, while publishers question whether their printing honors the archive and presents the facts without bias.
MENTIONED IN THIS ARTICLE
Webster
GLOBE
Massachusetts Legislature Globe
Public meeting disapproves a congressional petition reading
In Richmond Ohio a February 2 1838 meeting of citizens objected to a December 21 1837 House resolution that barred reading or referring petitions about slavery. A three person committee drafted resolutions asserting the right to petition and urging publication to the American Union and Western Herald. James Crawford chaired, Lancelot Hearns secretary.
MENTIONED IN THIS ARTICLE
Richmond
Vicinity
Jefferson County
Ohio
House of Representatives of
United States
James Crawtord
Lancelot Hearns
Moses H. Urquhart
John McGregor
Thomas Cole
Congress
U. States
Patton
American Union
Western Herald
Jas. Crawford
Also Mentioned on This Page
the American Union
the Globe
France
New York “Star
Ferritt
Martin van Buren
United States of America
Secretary of the ‘Treasury
Bank of the
the ‘Treasury
MR. Rives
Alabama Legislature
Qto Warranto
DR. Trevitt
Buffallo Daily Star
Black Rock
Toronto
Duncompe
Lake Sincoe
Waterloo
Chippewa
Fort Erie
Detroit Daily Morning Post
DR. Theller
Charles Peltier
London
Jai
Frenp Peltier
Governor Head
Detroit
U.S
Malden
Stephen C. Brophy
Henry Johnson
Culver
Monroe
George Davis
H. L. Hull
A. N. Partridge
B. P. Pew
Cleveland
Claude Campau
Brownstown
A. D. Bordeno
River Eoree
Francis Cloutier
Grass Isle
Chancey Parker Pontiac
Francis L’augustine
South America
Walter Chase
Port Stanley
Francis Lanan
Montreal
Yours
MR. Webster and
Messers
Allen
Bronson
Carney
Carpenter
Chambers
Clark
Huron
Gallia
Codding
Collings
Curtis Curry
Day Dunlevy
Alfred Kelley
Ohio Life Insurance and Trust Company
Franklin Bank of Columbus
Robert Neil
Ohio Egle
William B. Thrall
Circleville Shin-plasters
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