Michigan Debt Policy Fends Off Repudiation Press
A lengthy argument outlines Michigan measures to honor bonds while offering to exchange five million loan bonds for new State bonds if holders concede. It asserts no repudiation intent, proposes using railroads and land to satisfy debts, and rebuts claims from New York papers and banking interests.
MENTIONED IN THIS ARTICLE
Michigan
United States
Morris Canal
House of Representatives
Committee of Ways and Means
New York
Cork
Levit
New York Tribune
Europe
Political upheaval and financial schemes spark debate in Washington
The report traces shifts in the Federer Government and a London driven effort led by Bates and major firms to push a four percent stock plan for state debts. It analyzes the intended distribution of lands proceeds, the looming deficits, and the political critique of taxing New York and other states to fund alleged national obligations. It also discusses stockholdings and the Michigan debt issue.
MENTIONED IN THIS ARTICLE
New York American
United States
Tvo
London
Federer
England
Bates
Tie
Washington
Mr. Bates
Overend, Gurney, & Co
James Lloyd, & Co
Prescott, Grote, Ames & Co
Drewer & Fowler
J. &S. Ricardo & Co
D. Bevan
Tomas Cotterill
Ewart Taylor, & Co
J. A Droof
Thos. Hankey & Co
Wm. Jilton
Fletcher Alexander
Reid
Irving, & Co
Frederick Heith & Co
Thomas Yates
J. Hutchinson & Son
Jas. Capel
Norbury, Trotter, & Co
Gowan & Marx
Thomas Moxon
Richard Milne
A. Service
John Alliard
Caulia & Co
Col. Clark
N. M. Rothschild & Co. Denison & Co
Lord Ashburton
N York American
Micardo
Anxioral
Congress of the United States
Secretary of the Treasury
New York
Siete
Vermont
Canneecuest
Rhode
New Jersey
North
Caroline
Iedividusle
Deesees
Garery
United States Bank
Penn
Indiana
Michigan
New Hampshire
Connecticut
North Carolina
New England
Liability in Banking Debate Moves Ohio Politics
A Republican era editorial argues for bank liability, denouncing nonliability as unsafe and urging adoption of liability banking. It cites capitalists, orphans, widows, and speculators, and warns of France-like hard currency if the old system endures. The piece contrasts Whig promises with current farm distress and price declines. Cincinnati Enquirer and Zanesville Aurora.
MENTIONED IN THIS ARTICLE
New Hampshire
Thorougly
Ohio
France
Cincinnati Enquirer
The Nation Catches Whig Promises of Prosperity Crumbling
A long note rails at the Whig party for failing to deliver good times and high prices. It claims farmers, mechanics, and laborers were promised wheat prices, high wages, and robust commerce, but those pledges have not materialized across the country. The piece mocks Whig newspapers, orators, and politicians as having misled the populace.
MENTIONED IN THIS ARTICLE
Senate
House of Congress
van Buren
Shannon
Zanesville Aurora
Whig Party
Goternmrat Welsey
Canadian Flour Duty Debate Sparks tariff tensions
The piece discusses a 40 cent per barrel duty on flour exported to Canada from the United States, while grain remains duty free. It questions whether the duty is a weapon against American industry and contrasts it with proposed minimum duties under the compromise act. It reflects on political stances of Whigs and Home Leaguers and cites the Gazette’s claim that such a duty would sap millers’ and coopers’ jobs.
MENTIONED IN THIS ARTICLE
Canada
United States
Gazette
Cincinnati Enquirer
New Revenue Tariff Bill Draws Sharp Opposition
The Senate sees a new Revenue Tariff bill proposed by Mr Simmons, aiming to supersede Savronsraut and Fru more, with duties well above twenty percent and a plan to divide public land proceeds among states. Critics warn it defies the Distribution bill conditions and risks bankrupting the treasury, urging public scrutiny.
MENTIONED IN THIS ARTICLE
Simmons
Senate
Messrs. Savronsraut and Frumore
Fortiori
Tyter
The Land Fund Questioned by Correspondent
A correspondent asks if money is available to distribute to the States. The piece denounces Congress for a supposed land fund and mocks attempts to allocate funds, asserting that no money exists and that the fund is ineffectual and misused.
MENTIONED IN THIS ARTICLE
Congress
Plan of Banking Debate on Governor Wilson Shannon Race
Opinion on Thomas L. Hamer's banking plan condemns forcing solvent banks to back a broken bank. The piece argues it would bind all state banks in a risky alliance and unjustly shift losses to stockholders and the public, urging adherence to principles of equality and caution in banking reform.
Injustice of Bank Debts Plan and Currency Reform Debate
The author condemns forcing the state to accept depreciated bank notes, warns it would burden taxpayers via higher taxes, and derides a safety fund as risky. They favor constitutional federal currency, oppose state run banks, and urge treating banking as a trade like other goods while preserving sovereign control over weights, measures, and currency.
MENTIONED IN THIS ARTICLE
New York
United States
Objection to Bankers Liability Fails on Directors Control
The argument that few directors could dominate a bank is weak because legitimate banking can thrive with fewer costs. Banks formed by limited funds could operate efficiently and keep prices low, letting stockholders manage their own affairs. Community impact questions remain, but the consolidation principle is not soundly challenged.
MENTIONED IN THIS ARTICLE
Halfaderen
Etepkheldere
Howe
Also Mentioned on This Page
The
N. Y. Herald
House of Baring, Brothers, & Co
U. S. Bank
Baring, Brothers & Co
Cee
the Land Fund
the American Union
Steubenville
Wilson Shannon
Thomas L. Hamer
Hamer
West Union
Samuel Medary
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