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Newspaper
American Union
Location
Morgantown, West Virginia, United States of America
Date
Jun 07, 1837
Page
2
A Democrat of Hanover argues against a national bank, citing 1819-1820 bank distress and over issue harms. He challenges Whig claims, defends state banks, and warns that a nationwide bank would become a political tool and a fiscal autocracy, not a cure for currency ills.
In the Nashville Union May 6 discussion, banks debate specie as value and currency, with eastern bank whigs pressing export of specie to England to aid the United States Bank. Local whigs in Nashville advocate suspending specie payments, risking depreciation of paper and losses on two million dollars of paper.
The Banner urges suspending bank note payments, arguing it would let rich borrowers buy notes at discounts and ruin credit, while critics say such a move harms most citizens. The piece insists banks are solvent despite embargoes and accuses political interests of pushing the measure for personal gain.
The Globe rails at Mr Biddle denying that his bank stopped payment, claiming he could have paid if he chose. It mocks the so called bank honesty, noting piles of gold and silver on the counter while debts remain unpaid and compares it to a farmer refusing a neighbor’s small note.
The time for receiving proposals for laying the railway between Wrightsville and York has been extended to June 27. This extension adjusts the bid closing date, inviting contractors to submit plans and pricing for the work. The move aims to widen participation and ensure thorough project evaluation.
Commercial Record notes Steubenvale prices for flour and staples on June 7 1837 with wheat flaxseed butter beef bacon and more. New York market reports private sales of 3500 bushels fair Red German at 1 40 4500 good 1 50 2500 middling Red German 3 35 cash 1000 stalian 25 cash Odessa 1 035 cash 3500 middling White Dantzic 1 25 to 1 30 cash. foreign age sales moderate including 6500 bushels fair to good middling 75 85 cash and time Dutch middling small quantities 90 cents. Northern prices from 90 to 5 cents and oats dull with 60 cents sales. Corn supplies light and prices fully maintained Northern Yellow 1 Ohio Yellow 0 80 cents.
The item mixes scattered debates and curious anecdotes from 1830s public life. It covers census led representation, a tonic claim about caterpillars, Alabama legislature timing, a fatal fire in South Carolina, a humorous Esquimaux hoax, a rare salmon find with a coin, a horse and wagon accident, land sales in Illinois, a French hat development, beet sugar production figures, and a banking critique of British commerce with American debt.
The Wall street report notes Biddle's bank at 2 percent discount for city loan notes amid a rapid credit fall. It mentions earlier quotes showing a premium in New Orleans and Natchez. Also, Sublunary Bliss notes the Northampton courier vice editor wore the first silk vest ever made in Northampton.
Crops around West Chester Pennsylvania face yield issues amid listing entailed terms leaving farmers wary. Local fields show signs of stress and uncertain harvest prospects as weather and soil conditions impact production.
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