Diary of Charles Francis Adams, volume 8
1839-10-11
Clear and pleasant. Morning to town. Home. Afternoon. Evening, visit to Mrs. T. B. Adams and below.
I went to town accompanied by Mrs. Adams’ maid, Catherine. Time taken up in business and the settlement of the accounts of T. B. A.
The people in State Street in a state of much excitement from the combination of foreign and domestic news which arrived today. It seems that while the United States Bank found itself unable on yesterday to pay a large amount say $300,000 of Post Notes which then came due, the Steamer Liverpool brings intelligence of the protest of its drafts in France by Hottinguer to the amount of a million and a half, which though they were subsequently covered by the interference of Rothschild, had the immediate effect of shaking all American credit in Europe. It seems however that the New York Banks have not yet stopped, and that the Boston Banks will go with New York. But I fear that the causes for pressure lie too deep for easy remedy and the accounts of the state of the crops in England and the condition of the Bank of England are not encouraging. On the whole, things look gloomy enough. The Country is under no guidance worth having, and there is no present appearance that it will procure any or even be disposed to call for it. It is of no use to groan. We must trust in a higher power who brings out his great ends by his own means the uses of which are known only to him.
Afternoon at home reading Herschel’s Essay on Astronomy. Evening at the Mansion partly and at Mrs. T. B. Adams’ where I was paying away money, which I do not as things now are propose to keep. Rather unwell with a head ach.