THE FARMERS' REGISTER. 



621 



is a dirterence betwewi specie and cmrprn'v Hwrc ol' ;] 

 to 14 percent. "—"About )if;:j()(l,()0() lelt tli.''MorclianI'.s 

 Bdiik on Wednesday for tliat destination [China ] 

 Larpe drafts were also made on other banks to t;o by l!ic 

 Louis Philippe, lor Havre, on the 24th, and marly 

 $300,000, it IS stated, are already engaged to go by the 

 • Great Western." 



The exportation of specie has been going on for 

 souio weeks past, and tliis week much more libsraMy 

 than at any time before. We presume the .'^amc 

 tendency will continue through next month, and per- 

 haps longer. It would not be strange if five millions 

 should go off, clearing the market of tlie quantities of 

 Mexican dollars and other silver which is held merely 

 as merchandize, and perliajis drawing from the banks 

 most of their American half dollars at a premium ol 

 a half to one per cent. The banks have a large 

 amount of gold, which is not wanted lor exj)ort;ition 

 at the present rates of exchange, and is not likely to 

 be called for. The banks therefore are not called 

 upon lor specie to supply the foreign demand, by the 

 presentation of claims upon them. The operation 

 now going on is altogether healthy, for specie had 

 accumulated here until it had becouie burthensomc. — 

 New York Jour. Com. 



The specie shipped in masses last week was as fol- 

 lows : 



Gladiator for London - - - $230,000 



Louis Phillipe for Havre - - - 346, OOo 

 Great Western for Bristol - - - 271.340 



Akbar lor Canton via Liverpool - - 250,000 



$1,097,340 

 An injunction served upon the Commercial Bank 

 of New York city, by the Commissioners, closed its 

 doors on Monday. Cause, overliading, or lei;t too 

 large an amount to persons connected with its ma- 

 nagemenl. — {Phil. Led.) It is understood that the as- 

 sets of the bank are now sufficient to render its debts 

 safe, but not to leave n.uch tor the slockliolders. 

 This was a safety fund bank. Its capital was $.500,000. 

 Its circulation 1st January last, was $121,-370. — 

 Jour. Com. 



The Herkimer County Bank (New York) has been 

 robbed by Anson C. Brown, the book-keeper of the 

 bank, of more than $70,000. The financier escaped 

 with the proceeds of his "operations," but was soon 

 pursued, and his capture expected. [He has since 

 been taken, and nearly all the money recovered.] 



The cause of the depreciation of Wheeling bank- 

 notes, so much below those of the other bank notes 

 of Viiginia, has been a mystery. We had no doubt 

 but they are just as good as the others — or to speak 

 more correctly, that all the others are as bad as tliose 

 of Wheeling. But though not able to fatliom the 

 mystery, we were sure that the Wheeling banks were 

 in some way making an extra profit by the extra de- 

 preciation of their notes. The following article from 

 the Argus, a paper published in Wheeling, may serve 

 to throw some light on the subject. Alter having 

 announced in a previous paper, the depaiture of 

 Messrs. Brady and List, the cashiers of the two 

 Wheeliiig banks, the Ai-gus of the 23d adds — "We 

 have been informed that the cause of the above 

 gentlemen's departure, was to make some arrange- 

 ments in Richmond, to bring the value of their pa;)er 

 to a par with the banks of that city. Then, as we 

 before said, " may not an appreciation in the value of 

 their paper be expected ?" We hope so Since writ- 

 ing the above, we have received further information, 

 that the principal business of this delegation is to 

 sell specie — two stage loads of which our in- 

 formant says, they took with them. Banks can ship 

 off, and speculate in specie ; at the same time, farm- 

 ers and mechanics must receive and put up with 

 '•■ shin plasters" and depreciated currency, for their 

 sweat and toil." I 



In the mean time, th" Wheeling notes will mnke a 

 hn^ic part oi" the revenue, and the Irea.suiy vrill lose 

 llio amount ol depreciation. We trust the loss may 

 be as great as jiossible, >o that the peo|)le of Virginia 

 ni.iy no longer submit to be securities general for all 

 Ihe banks of the state. The greater the lo-s sulf-'r- 

 ed now, the greater will be thi? saving hi iciiltor. A 

 bankrupt treasury, caused by bankrupt banks, would 

 now be a blessing, compared to the continuance of 

 Ihe permaninco of the fraudulent paper system, up- 

 held by state securityship. 



Resumption ! Resumption ! ! — This cry is besinnin"- 

 to be heard, and it is full time that it should be"*. 

 Some of the banks profess to be able to resume ; then, 

 if Ihey do not resume, they are guilty of dishoncsli/, 

 and the people must not rest satisfied until they aie 

 punished. — Baltimore Republican. 



The Richmond Enquirer, says. — " The whole bank- 

 itig system in the states must be radically relormed. 

 Tile suspended institutions (we mean, those that are 

 not bankrupt,) must resume specie payments, by a 

 ivise concert and at as early a day as is practicable." 



j Friday, October 8, 1841. 



I According to the report of Mr. Ewin^, the late 

 i secretary of tlie treasury, the sum ot $319,318 re- 

 I mains due from the United Statts Bank to the treasii- 

 I ly of the United States. (Senate Document, No 121.) 

 j Judge McLean of Ohio has declined the appoint- 

 ment of secretary of war, and J. C. Spencer of Nt:W 

 j York has been appointed to, and has accepted the place. 

 I All the other persons recently nominated for the cabi- 

 ; net have accepted, and all are at Washington, except 

 I A. P. Upsher of Virginia, secretary of the navy, and 

 i Ch. Wicklifie of Kentucky, postmaster general. The 

 former is detained at home by the illness of his bro- 

 ! ther. It is understood that all the new members of 

 j the cabinet (who form the whole, except the state de- 

 Ipartment,) are opposed to the establishment of a na- 

 1 tional bank. 



! It is yet a matter in dispute whether the kidnapping 

 of the Canadian "patriot" or incendiary, Grogan,. 



i from within the United States line, was by military 



! authority, or by unauthorized volunteers. Grogan is 

 still in jail in Montreal. His case is before the go- 

 vernment, and he will no doubt be demanded and 



' released. 



Samuel S. Fitch, a merchant of Philadelphia, sup- 

 posed to be worth between one and two hundred 

 thousand dollars, has been arrested for forgery, al- 

 leged to have been committed 17 years ago. 



The trial of McLeod has been commenced, at 

 Utica. 



The great swindler who lately got $26,000 by a 

 forged draft on the Biownsof New York, and as much 

 on another lions... L: .• i;een discovered and arrested. 

 He is, or had passed tor. ;: Col. Monroe Edwards, of 

 Iberville, Louisiana, and 's a native ol Kentucky. .$44,- 

 000 of the money has been recovered. He had been 

 playing the character of abolitionist on a grand scale, 

 and altempling lo swindle the leaders of that sect, 

 which attempt led to his detection. He was arrested 

 in Philadelphia. 



We understand that the crops on the plantations 

 alon^ the Savannah are seriously injured by the late 

 freshet. The corn crops generally in Beach Island 

 are destroyed. — Georgia paper. 



The ship Shenandoah arrived at Philadelphia on Mon- 

 day night, bringing accounts 5 days lat( r (to 9th of 

 September,) from England. No news of impor- 

 tance. 



Duiing the last week, 5 failures had occurred in 

 Manchester, to the amount of £300,000. 



By the last accounts from Canton, the emperor ol 

 China continued determined to yield nothing to the 



