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Newspaper
American Union
Location
Morgantown, West Virginia, United States of America
Date
Jun 03, 1843
Page
3
The Steubenville Ohio paper notes a Saturday edition dated June with 1845. It includes brief local notices and updates from the American Union publication. The exact events, people, or places are unclear due to missing OCR details.
The Lagrange mill offers 62 cents per bushel for wheat while Steubenville and Mt. Pleasant banks closed last winter selling wheat at 40 to 50 cents. Since their death, wheat has risen about fifty percent. A Cooper novel titled Hooted Knoll is announced for August or September, set in western New York during the Revolution.
In Pittsburgh we witnessed two cartloads of specie taken from a steamboat just arrived from the South. Mr. Benton once predicted that specie would flow up the Mississippi, and now the same current reaches the Ohio as well, fulfilling his forecast in full.
The piece notes that Pennsylvania ordered cancellation of relief notes and destruction of thousands, causing specie to flow into Pittsburgh and Cincinnati. It argues this supports Democrat claims that destroying paper money yields abundant specie, contrasting with Whig disappointment.
The piece argues that the expiring banks were not rechartered and warns the nation would suffer. It claims currency improved under partial specie and labor is paid better, with wheat and prices rising, contrasting with Whig predictions. It notes Webster's speech and future presidential aims and reports a Columbus fire hitting Col. Hunter’s warehouse and losses including Mr. Wolcott’s Jeans.
A reader notes the Whig Herald has long urged brethren to label Democrats as locofocos or snatch and to take the name of Democrats. The writer mocks the habit and suggests adding a formal affidavit to such pieces to lend a legal air and better accomplish the aim.
The New Orleans Jeffersonian reports a great meeting in Avoyelles with resolutions opposing the Bank of issues and state debts, defending constitutional limits, and urging gold and silver as currency. It backs Democratic nominees, and calls for constitutional amendments to abolish property qualifications, extend suffrage, curb governor patronage, and make officers answerable to the people.
In Pittsburg a leading merchant reported an unusual spring surge in cash sales. The shift followed the Pennsylvania legislature's destruction of relief notes, causing depreciation of paper currency and a rise in specie use. This enabled a flourishing cash business throughout the city.
A political alert urges Democrats to watch Whigs as they push for tariff support and a specie currency. It accuses Whigs of false promises and seeks vigilance to prevent Whig dominance in trade policy and credit for Democratic achievements.
In New York and Philadelphia the legal rate is six percent, yet banks loan little at four. Money is abundant with low demand, making it hard to cover expenses. Since specie abundance, banks prefer cash dealings, hate specie currency, and avoid charters in Ohio where their business is killed by abundant specie.
In a late Baltimore speech Webster plainly suggested a mutual exchange of goods between the United States and Great Britain based on reciprocity. He, long a tariff advocate, might relish a mission to arrange such terms with England, believing the China mission would block his England post since Everett kept the seat.
Webbster remains determined to reach England with a strong desire intact. The text indicates he would pursue a reciprocal arrangement as the route to his goal, advocating a policy to secure his passage.
Report from the late Common Pleas session details a verdict for the plaintiff in a steamboat Eutaw incident. Despite careful crew and safety measures, a flue collapsed causing cargo loss. Court charged that common carriers are insurers. verdict Damages $500. Also includes quotes on protectionism and cotton exports from the Journal.
A Chillicothe Advertiser excerpt cites an 1843 Almanac table showing losses from 1837 to 1842 including 54 million in bank circulations and deposits 283 million in failed capital 100 million in depreciated state stock 50 million in company stock and 300 million in real estate total losses reaching 818 million dollars. The piece notes hard times and quotes New York money conditions with notes at high rates and bank offerings shrinking.
The Prospect Brightons reports a large influx of specie as a natural result of increased purchasing power in the country. It argues that currency value is shown by commodities and labor it can buy, not by interest rates. It notes improving U S credit amid capitalist criticism and predicts prudent, productive business and better prospects for manufacturers and producers.
The Ohio State Journal frames the coming election as Bank or No Bank, calling for a Whig stance against the existing banking system. It argues that financial oppression has harmed labor, urges reform, and asserts Democrats favor prudent banking while Whigs push repeal through a binary showdown.
The Salem Village Register notes wheat at 62 cents per bushel. The Cleveland Pisin Dealer cites wheat at 67 cents in that city. Massillion reports prices rising, with brief mentions of market activity and the Crete Democcrst.
The article quotes farmers urged by critics to accept lower prices in hard specie funds, while contrasting with higher local promises. It notes Liberia’s Governor urging education, temperance measures, and higher liquor duties, plus increasing colony trade and vessel launches. It also reports the Kingston Loyalist noting Sir Duarces Bacott’s death.
Miss Emily K Pace of this city married George M Evans of Pittsburgh on Thursday in Florence by Rev Worthington. The ceremony united local lineage with a prominent Pittsburgh connection in a simple register affair.
A Friends of Col. Richard M. Johnson group in Bloomfield invites supporters to a gathering on Saturday June 17 to back his candidacy. The note praises his bravery patriotism and loyalty to democratic principles and urges all admired by him to attend.
The corps holds a special meeting this evening at the Eagle Hotel to finalize arrangements for the 4th of July celebration and address other important business. Attendance is required by order of 1st Lieutenant O. C. Gray O.S.
Cheap new books announced a history of the Reformation in Germany and Switzerland beautifully bound in muslin. Available for sale by June 3 from Frazer & Bell.
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