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MORNING HERALD. FRIDAY, SEPTEMBER 22, 1837. The Beginning-Resumption of Specie Payments-Separation of the Sheep from the Goats. To THE PUBLIC.-I hereby give notice that from this day henceforth, the notes of the following banks in this city (with the reasons annexed to them) will be received as equivalent to specie, and also silver will be given for them in change for advertisements, subscriptions and other payments made at this office. NAMES OF THE BANKS. REASONS FOR RECEIVING THEIR NOTES Specie. Circulation. Bank of America, 656,596 440,769 82,564 65,713 Leather Manufacturers' Bank, Seventh Ward Bank 76,390 77,592 Tradesmen's Bank, 28,932 32,993 Thus do I show Mr. Van Buren and his chef de euisine, Amos Kendall, the right path to popularity. Will they not fellow ? JAMES GORDON BENNETT. New York, Sept. 22, 1837. In making this announcement to the publie, it may be expected that I should assign further reasons for taking such a step. I will do so. It becomes the duty of every good citizen and upright man, to aid, in seasons of calamity, the general effort made towards an improvement and restoration in trade and commerce. On many occasions I have honestly and fearlessly laid bare to the public view, what I deemed to be a wide departure from the scienificeprinciplesof: and currency, in the conduct of our banks. I pursued this course through every species of threats-in the midst of inducements to the contrary,-and in opposition to all sinister attempts upon what I believed to be the duty of an intelligent and fearless editor towards an honest, cheated, butenlightened public. When the banks expanded their eirculation last year, in the midst of an inflation of prices, I denounced their policy, their ignorance, their cupidity, and predicted the consequences we have all seen. When the thick-headed and stupid bank commissioners, who seemed to me always like three asses all in a row, were certifying rottenn and giving character to bankruptey, I told the public not to believe these charlatans, and they did not believe them. Thus far thus well. But after the severe revalsion which we have seen, the last throes being yet felt, the banks have at last come to their senses-they have looked into the principles of their peculiar business, and many of them have wisely retraced their steps, and come back, like the prodigal son, to the paths of honesty and correctness. Let us do them justice. We know the fact-personally and beyond the reach of cavil-that the measure of suspension was forced, and urged, and threatened upon them, by speculators in lots, lands, and other articles of cupidity, aided and assisted by corrupt and unprincipled peliticians of this and another city, for the purpose of making the government and the people succumb to the authority of certain bankers and their confederates. It is our deliberate opinion that this self-inflicted calamity was produced by the intrigues of Nicholas Biddle, Esq., of Philadelphia, aided and assisted by his corrupt instruments in this city, the Courier & Enquirer, the Star, with others, in order to destroy the commercial character of New York-extort a new charter from Congress, and make the insolent institution in Philadelphia, the centre of the money market of this Union, instead of New York. Had we aided or assisted in approving such a policy as Mr. James G. King, of the house of Prime & Co., and other Wall street financiers, did, on the day after the suspension, in a public meeting in the Exchange, we should have considered ourself recreant to national honor, to moral principle, to commercial integrity, to correct financial science, and to the interests of New York and the whole country. Instead of pursuing that atrocious policy, only capable of being adopted by ignorance, and hailed by reckless presumption, we insisted upon the banks gradually but rapidly recovering their former strength, and putting themselves in a position to resume specie payments at an early day. On this question a great difference of opinion has existed-but fortunately for correct financial science, nearly one half of our institutions have adopted the right policy, and rejected e advice, and despised the threats of the intriguers and agitators with equal contempt. The banks which we named in the foregoing notice, are at this moment in a condition to resume specie payments. They have duly published monthly statements since May last, and on their statements we, so far as our individual operations extend, have came to the resolution to receive these bills equivalent to specie, and to give that confidence to their paper which their proper management deserves. We find, also, that the following banks, by the policy they pursue, will probably be ready on the 1st of October, to be placed on the same list
