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This year was one of much commercial distress, the result of the failure of several spurious banks chartered by the State of New Jersey. Subsequently, by the failure of several insurance companies, was revealed an amount of venality that affected the commercial character of the city at home and abroad, and also that of a number of persons of character and respectability; resulting in the conviction of some by a court of justice; some of them being sent to the Penitentiary, while others appealed to the Court of Errors, and escaped by the casting vote of the Lieutenant-governor.

Jacob Barker, who has been already mentioned (1822), in consequence of his connection with the Exchange Bank at a previous date, and the Washington and Warren at a very late period, was very seriously and generally censured in the public prints, and some years after this he became a citizen of New Orleans. He resided at 34 Beekman Street, a neighborhood which at that time was the residence of many of our well-known and distinguished citizens; he enjoyed not an enviable reputation for his shrewdness in business matters and responsibilities. My employer, who had a bill against him for the repairs of his steamboat Marco Bozzaris, threatened to sue him; whereupon he said: "It is not worth while for you to go to the expense, when you can buy a judgment against me of any amount you want at a very low rate." At this time, which was some years

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