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Newspaper
American Union
Location
Morgantown, West Virginia, United States of America
Date
May 15, 1838
Page
2
Readers are informed that the paper is published every Wednesday from Market Street south of F M Bank, with annual and semi annual payments due. Subscriptions and arrears are noted. Letters to editors must be posted to receive attention. Printing and engraving services are available at the Union Office.
The piece argues the Bank of the United States cannot resume, citing official February to April statements. It details specie totals, liabilities to state banks, private depositors, and post and resurrection notes, accusing Biddle and his English agents Cowell of misusing dead notes as cash and warning of inevitable inability to meet immediate demands.
The article argues the Bank of the United States cannot resume payments, citing Europe loans totaling over twelve million to cover eight to ten million in US liabilities. It accuses Mr. Biddle of falsity, alleges foreign influence through Cowell and Jadon, and claims the bank obstructs specie resumption while pushing an irredeemable currency.
The steamer Columbia under Captain Wright reached yesterday with 110 passengers and a runaway slave hidden aboard from its prior voyage. Reports from Houston claim Congress debated private information and unanimously resolved to urge withdrawal of annexation petitions to the United States.
The Pennsylvanian notes the Federal City Councils plan to issue another $250,000 in shinplasters. Philadelphia loses reputation for uprightness and wealth as banks fail to meet specie, debasing currency and depressing business. Pa. Keystone reports Gen. Ripley is not dead as recently announced.
In a April 16, 1898 Boston letter, a citizen rebukes Nicholas and the Bank of the United States for tying politics to currency policy. He accuses Biddle of representing debtors and European stockholders, argues for a balanced currency, and questions the Specie Circular as a sole cause of suspension. The writer defends free critique, rejects personal attack, and calls for a moderate mix of precious metals and credit to stabilize the nation’s finances.
The Boston Post reports a major suit against Mr. Biddle’s bank for 109000 in post notes after he refused to honor debts with old bank notes. It accuses him of dishonoring sacred contracts and favors English interests, detailing foreign influence and widespread attachments on debt instruments.
The text describes widespread concern over counterfeit notes and the push to accept or reject them. It mentions Mr Bidstre and General Jackson in disputes over the notes, time to sign new notes, bank applications, and the shift toward legal action as the default remedy.
The Thomaston community gathered to honor Hon. Jonathan Cilley with a funeral at Rev. Woodhull's Meeting House. Rev. Job Washburn delivered the sermon, praised his public service, and addressed the widow and relatives. A hymn choice tied to the tragedy, read by Mrs. Cilley, moved attendees as the procession moved to Elm Grove Cemetery where his tomb awaits a monument. About seven hundred attended despite bad roads.
The Cleveland Advertizer denounces those who argue banks should be allowed to borrow public funds for speculation as destructives. It claims such charges are tactics to frighten voters and misrepresent the Democracy, promising they are false and will be proven so with time.
The Jour nal of Commerce responds to insinuations that its bank pursuit was revenge for a failed loan. It says if it sought a loan from Mr. Biddle during the panic and left empty handed, it would have forgot its role as newspaper editors. The piece calls the motive question a wind and water shot.
The list shows bonds and stocks from many states including New York Alabama Mississippi Maryland Virginia Florida and Tennessee. It features Farmers' Loan and Trust Company 5 per cent bonds New York Life Insurance and Trust Company stocks and various state bank holdings with substantial totals across the category of miscellaneous stocks and securities totaling about 14 2 million.
The text notes that 116 million dollars of interest on all state stocks have been paid in specie or its equivalent since suspension of specie payments, with the exception of Pennsylvania, Virginia, and Mississippi.
The Chambersburg Repository argues that Philadelphia banks should resume specie payments like New York banks did a year ago. It condemns Biddles policy as unsatisfactory amid a nation suffering from devalued currency and criticizes the rag currency as disgraceful and villanous.
The piece critiques hype around fast steamboats after the Sultana disaster. It notes the Sultana’s round trip from New Orleans to Louisville in thirteen days totaling about 2000 miles and condemns speed over safety. It argues that sensational puffery by steamboat promoters misleads the public and harms waterway safety.
Seven schooners and a brig bound for Buffalo cleared at the port of Cleveland on the morning of the 26th, carrying 22 000 bushels wheat 2 144 barrels flour and 11 600 pipe slaves. After departures, forty three brigs and schooners remained in port.
A Princeton Miss explosion survivor, known as a blackleg, died in agony and confessed to setting fire to the Pinkard House in Vicksburg to avenge fellow gamblers’ murder. The New Orleans True American is cited. the assailant’s name is not given by the source. The Baltimore Sun notes the report.
Reports at the War Department say Alligator, a leading hostiles figure, surrendered at Fort Basinger on April 4 with 88 of his people. Among them was John Cowaya and 27 blacks, southwest of Okeechobee. He aims to guide dispersed Indians to Pease creek and recruit more. A detachment captured 45 Indians, 17 warriors, at Fort Lauderdale. Gen. Jesup was at Tampa Bay.
The Vicksburg Register reports the Orenoko disaster with uncertain death toll estimates from 80 to 150. Of 20 wounded left at Princeton, 13 have died, and by the end of the month 16 of 30 brought to Vicksburg died. Local inhabitants aid the sufferers. loss of Col. Oliver's horses is not noted.
David G. Whorf allegedly took his own life by shooting himself in Ashland Richland County. Investigators report no foul play and a preliminary investigation is underway to determine motive and confirm the timeline of events.
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