mol in deed d should list to see every two & bush
shirt I could recollect them all r do now as fresh as
yesterday the have had a most alarming failure
amongst dom of the largest & most influential housy
in America but the panic is now our things
have Authicher but we at present by a nation
present a Dingular spectace which is that out of
800 Bank a single One is able to needem
then not in gola & dihen to great has been the
preferen in the whole commer cial world, we do
not Call those Bants Broken but morely suspended
& when our currency is restored to its wonted sound
expect do but proble some may/ he tweft off
nep the will resum payment at least lew
by this impredient mandgent., Some houses
Orlean have failed for upones) of fifteen
millions of Dollar & in New your Jone days
as many as I wenteen failure, have taken plaw
in a days I thoud otah that this Itah of
be well awan that Inch heavy failure has
affairs commenced last leck Life you may
given a great shock the trade x Commerce
& the mucantil community at large, infact
many many, who have been toiling for a life
tirm to ae quin wealth have been Completely
prochation the greating Cause of all her been
over trading x Oan speculation men getting duch
in dib t from the propern of our Bank this
Andrew Richey, Clinton, Mississippi, to his parents, Ireland, September 1837
Description
Andrew Richey writes to his parents expressing the sadness of missing his brother and with the heaviness of business falling on him alone. He relates that the panic of the recent widespread banking failure has passed but most banks are "suspended" with some failed. Many in the "Commerce & the Mercantile Community" have been "prostrated" by the failures, caused overall by "over speculation". James's own merchant business carries on, even though in the worst of times. He is glad "Brother & Sister Cordner "did not come out to America yet with reports of 'passengers arriving to New York and Philadelphia without number".
