The Express. — London, England, 1857-10-26 00:00:00

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WI still look is men for any indication of im prormsat in the immediate prospects of the Money fileeket. The teatime spun which the country has veal NMI to en igratalate limit is the calmness at the goblin Bic& darn' the present crier, sad the ems city with which all creme scoot the idea at shwa or panic. As the &misogamist of oar Money Market arises principally from foreign hairnets, over which we have little or no control, it is a natural consequence that ear position can be affected in only a seconiLiry degree, and that the subsidence of the foreign pri scare will be the signal foe imme diate relief. Meanwhile, we have so part is the financial unennndseas and mosequeat embarrear merit from a! ieli other nations are sufferieg so se- rerely. Hut a glance at the general poaitioo of mone tary affair' prone that there are as yet no signs of the expected relief, and even excites en apprehension that the wont of the preemie has not yet been ex- perienoed here. First, let as glance at the position of the Bank of England. The following statement exhibits the num went in the three leading items ai the balance-sheet daring the last six weeks: Other Coin Baena Seearitien. sad Bullion. el 11645 a. Sept. 5 .... 1•t,.4i1,990 11,491,213 6,064,870 „ 12 .... 18,n64,062 11,219.461 6,194,376 • 19 .... 13 4 62,061 11,168,560 6,108,730 „ 26 .... 19,719,700 11,276,088 6,014,160 Oct. 3 .... 21.945843 10,662,692 4,606,040 „ 10 .... 22.3:8,877 10,109,943 4,024,400 „ 17 .... 20,339,546 9,524,178 3,217,186 Now, although during the air weeks the Bank has parted with nearly two millions in gold, and although the reserve, or fund out of which it affords accom modation, is reduced to an unusually low point, there is nothing alarming in this comparison. A large reduction of the reserve invariably occurs at this period cf t'..e quarter, owing to the payment of the dividend+. The comparison is rather suggestive of caution th.lo of anxiety. The Directors acted with promptitude and decision at an early period of the drain, and the ',suit is that instead of the gold being draughted array at the rate of a million a week, as would ei rtaittly have been the cue had a lees vigorous policy been adopted, the decline in the bullion is very gradual. One unfavourable feature, how ever, remains—the dna: is still going on ; and this undoubtedly •a;;;,bts the probability of fresh re strictions. The immediate object of the Bank is to interpose obstite.t, to the drain of gold : its metallic stock is still c-nsiderable, but is now approaching a point at which foreign attempts upon it will be watched with evtn increased vigilance, and met, if necessary, by sti:l more stringent regulations than those now enfiared. A consideration of the leading features of tue bullion movement does not encourage the idea that the turning-point has yet hem reached. On the first indications of a drain of gold to America—from which quarter, under °railway circumstances, we are recipients of bullion to so large an amount—the Bank Court raised the rate of discount to 7 per cent. They then waited for exactly one week—until Monday last—and finding that the movement continued, and that the accounts from .tmeriea were calculated to stimulate it, they unhesitatingly advanced their charge to 8 per cent. It is important to remark that even this high rate has proved insufficient to stop the drain. That it would he inadequate we fully anticipated, considering the enormous difference which still pre vails between the relative value of money in London and in the U, States, and the mortal struggle for the trans of upholding their credit in which whole communities on the other side of the Atlantic are engaged. During the last two weeks and a halt nearly 600,0001. in gold has been derpatehed fror.t England to New York, and of this slim nearly one-half, or about 260,0001., was sent during the wee is just terminated, in spite of the advance in tar flank rate of discount to B per cent. The disastrous intelligence received to-day from New York is calculated to aggravate the drain of specie thither, and, therefore, incremes the probe. bility of the speedy adoption of fresh measures Of, restriction ..t the Bank. But, in addition to the American drain, there is another feature Wiieh points to continued and even increased eun.pliestions in the Money Market—we allude to the demand for silver for India. The difficulty thus I.(2asioned has long been con siderable, Lat the appearance of the Fast India Company as shippers of silver for Government so r.ics in the East bids fair to affect the Money Market still more severely. It is well knmun •'tut England has never say silver to spare. Her silt' r coins are mere tokens, Intrinsi cally worth consideraisly less than their nominal value, so it would not pay to export them. Then, the nation is tio wealthy toile willing to part with its silver att.( les of luxury or amiassent ; any rise in the price of silver affords no imbuement la this respect• Consequently, apart from the inadequate supplies of silver received from Mexico mad Mbar tram-oceanic *Airco', the Eastern demand invariably supplied oat of that apparently inex haustible reservoir, the silver *linage of Continental States. These States, however, must have gold in return, and t►e question at once Irian, where can the requisite supply of gold be pro cured upon the present emergency unless at the Bank of England? We cannot expect Australian gold to flow in to our relief, from week to week, just as we want it and all the Californian gold is as present inexorably absorbed by the United States, who are even drawing upon our stock in addition. Should the Fist India Company be compelled te become regular remitters of silver to India during the per Easters crisis, as there seems much reason to apprehend, the effect upon the Money Market will be prolonged and serious. Bat, to look no further than the present week, there is every probability that payment cannot be made for the heavy supplies of silver engaged for the next Eastern packet without trenching farther upon the stock of gold which the Bank Directors arc so jealously guarding. • - - - Whilst the tendency of the bullion movement is thus unfavourable, we must not lose sight of the activity of the general demand for money at the Bank. It will be remarked that the " other semi " ties," which on the 10th instant reached the un precedented amount of 22,398,8771., still stand at 20,639,:5651., notwithstanding the heavy repayments at loans which were made to the Bank during the dividend week. Even after making allowance for the het dot the securities now held include the India llleede eyes which the East India Company recently bine& the Bank to advance a million sterling, Me evidence here afforded of the unusually tell employment which is found for the Bank's means in commercial channels is alto gether on favourable to the hope of a diminu tion of stringency in the Money Market. Under ordinary circumstances, the distribution of the divi dends is accompanied by an important decline in the Bank's advances on "other" securities, and it is not until an advanced period of the ensuing quarter that the aggregate of these securities again acquires large proportions. But, upon the present occasion, the reduction is comparatively limited, and the total still held is extraordinarily large. The apprehension is thus strengthened that, as the dividend money becomes diffused amongst the thou sand channels of trade, and as money flows back to the Bank in the shape of Government deposits, the supply in the Discount Market will be propor tionately contracted, and the Bank will be called upon to add yet further to its unusually enlarged ad va-sxs. ltoubtless the Bank will be in a position to accede to the demand, but this state of things denotes • high rate of discount. THE EXPRESS, MONDAY EVENING, OCTOBER .561'1857. odium, who lave strenuously urgid a mote liberal ewes, provided it wen adopted by all but who could not adopt this come wI st game! assent. In feet, a proposition was submitted by Mr. Withers, of the Bank of the State of New York, to the effect that the banks should enlarge five per cent.—but this was negatived. Tho prevalent opinion yesterday was that a few of the old strong banks combined together to force the majority into liquidation, and thus confine the business to a limited num ber. In &ling tbie, the entailer banks were compelled to curtail their operations, and in the general restriction many of our most wealthy, honourable, and useful firms have been sacrificed. Wo speak within bounds when we say that this course has driven 50,000 men and women out of our work shops into idleness and poverty. The following are the resolutions alluded to in the com mencement of this article, and they form the conclusion of yesterday's eventful history : A meeting of the Associated City Banks was held on Tues day evening, Oct. 13, at which a large majority of the banks was represented. On the motion of Mr. Knapp, seconded by Mr. Durham, the tulle* ing preamble and resolution were adopted:— r, Whereas, in view of the excitement prevailing in this com munity, and the fact of the actual suspension of a number of beaks in this city,—Resolved, That It Is expedient that the banks of this city suspend specie payment to-morrow." On motion of Mr. Levemdge,—Reeolved, "That a com mittee of three be appointed to proceed to Albany, and n ip:teat the Governor to convene the legislature to conekisr the neressity of enacting some law to give relief in the Teeniest financial emergency."—Mere. Tilmton, Durham, and Knapp were constituted such committee. On motion of Mr. Gallatin—" That the most energetic am/diens shall bo made for en early resumption of spade payments ; and that it be recommended to the banks to make no dividends to their stockholders, until the resumption of 'poi° payments." On 'whoa—Resolved, "That the proceedings of this meeting be published in the morning papers." TllO3. TILZATON, Chairman. R. B. Oakley, Secretary. The New York Tinsel thus speaks of the distress which prevails in that city : it is certain that more then two thousand girls, engaged in the various departments of mantilla and cloak nuking, are shear out of employment. Nearly every establishment of numerical importance bee reduced the number of bands from one-third to one-half, end some of them more. Bel pin's establbitunent, before the failure, offered employment to from six to eight hundred girls; and Mellenzio's establish ment In Canal-attest, before his f►ilure, gave employment to over two hundred girls, all of whom have been discharged with the ezeoptionof two. The bonnet bueinews has not suffered so much as many other trades, although these is not so touch doing sa . _ pavlova at thin season. This stock of fall bonnets is not so large *a natal. The principal manufacturers are en &avowing to make up in accordance with each day or _ . . . week's demand, p that there have not been so many em ployed, and as the damiesd continues, there have not been so many discharged. The decrease is estimated at from 800 to 1,000 hands. _ _ _ . The jewelry business is already seriously affected. Several astabliehments that have employed from twenty to fifty men have discharged, some one •third and others one-half their anal number. But es the quantity of jewelry manufactured i i i here Is bat small in comparison with the quantity Imported, the curtailment in the number of men employed is menu factoring Is not large. The effect of the pressure comm chiefly upon the wholesale and retail dealers. A hoary Importer of French jewelry in Nessau-street Informed our mporter that he wee the only person who had entered his este bliahment in three weeks. 11. had had no purchasers, neither bed there been say one sufficiently carious as to how be iris getting along to step in and inquire. All through the city the trade is nearly at a " stand-still." Morn. Starr end Vnderkull, 127, Maiden-lase, who have mostly suspended, sere largely engaged in the nianufacture el hats, which were made In Illoceneold, Orange, End Newark, N. J., sad Stapleton, Statist Island. They fur . . sighed employment to about 900 handa who are now thrown out of week. Their payment, were from 1,000 dollars to 1,800 dollars every Saturday. They bad discounting facili ties sith the country banks. which, one after another, were obliged to contract their discounts, compelling them to seek elanottere for the means to pay their hand,. They have sold goods on eight months to the large trade in St. Louie Chicago, Cincinnati, Philadelphia, Baltimore, and all the pi ineipel titles. From preeent indications they see no pros pect of a resumption of business for month, to am* by the bat manufacturers to whom they have given employment. In Danbury and Bethel, Connecticut, the people an shame wholly employed in the manufacture of hate. Not lees then from 1,100 to 2,000 persona end employment there, all of whom have been deprived of business by interruption of this branch of trade. _ . 91,000 An then astablialunents ere winding up and finishing what is on hand, but they are not manufacturing one new hat Then is, they say, a large demand for the goods, but they have no money to pay the bands with, and must therefore stop. The prep Wore of one of the largest homes say they will not resume, at any rate, before the let of January. Enna and Straus, No. 61, Vevey-street, clothier. (failed), employed from 176 to 200 bands, all of whom are thrown out of employment. Every girl and sae, bowers., wee paid off bodge they were discharged. Under the head of " The Disasters of the Day," we find the following in the New York Evening Pose of the 10th : Joseph 11. Cording and Co., a well-known dry-goods rem raimiou hoes*, has also auspendsd. They ars known to be worth three or four times their liabilities, and mat to m eat from inability to procure wine 2,000 dellars. It is to be presumed that their ruvonsion will be bat temporary. Mr. Corlics, the senior partner, bas been more than forty years in barium, in this city, part of the time as a mem bear of the well-known Quaker firm of Corlies, Haydock, and Co., and has always been distinguished for his prudent business habit.. The Bowery Bank, of this city, and the Central Bank, of Brooklyn, stopped yesterday. Hoary A. Cod, who has long been regarded ee one of oar wealthiest Minnie, and whose business operations have been very limited in proportion to bis means, was obliged le let his paper go to protest yesterday fur the want of soma five or xis thousand dollars. Tbo charseterand extent of his lia bilities beyond has not transpired, though no ultimate loss is likely to be sostabsed by his ereditore. John M. Genth, the hatter, hu also boon obliged to ens pend. He has been doing a very large Duthie's, his soles amounting to some 800,000 dollars a year. He hopes to got sn extension and pay in full. The following is the commercial article of the New York Courier and Inquirer of the 14th : TVIREIIAT EVENING, OCT. 13. The confualon in the shoots to-day has be• so greet that lateness has been In a large measure neglected. No quota tions of foreign or domestic exchange can be given—the mar ket values of property, of storks, of produce, gc., are all nominal. The derangement of the currency and of the ex changea interrupts, fur the time, commercial operations of all kinds and in all channels. The banks of the city having as much as they can do to take care of their own payments, aro forced to refuse the note' of the country banks of New England and New York. The brokers aim refuse to buy them, and this adds to the conflision before prevailing, At Charleston the Bank of South Carolina hue closed its doors • also the South Western Railroad Bank. Of the former, a correspondent in South Carolina remarks •—" We regret eery much the eturpeasion of the Bank of the State of Smith Carolina—which has just been announced here, and hope it will not be followed by any other bank in Eolith Carolina. That bank has been for many yeah regarded as holding a large amount of weak, If not had paper, and hem been minified in the State by party feeling rather than the sober judgment of intelligent business men." At New Orleans awl Bt. Louis the beaks are stronger than in thy other part of the country, and will, we think, thanks specie payments; but in other portions of the Union—Vir ginia, South Carolina, Georgia, Kentucky, to., the banks cannot, in justice to themselves., maintain specie payment, while so many others are under suspension. A epode cur rency cannot be maintained where a demented currency also exists to a large extent. The banks cannot exercise their functions successfully—that h., issue balm freely aid discount paper freely, and pay specie, while other state' around them azs under suspension and drawing continually upon coin reserve. Some days since the Senate of Pennsylvania paned a janolution requiring the state treasurer to maks an exhibit of the condition of the state finances and the different depositaries which they are placed. The Stock Board to-day seems comparatively independent d the freekil revuletcm, and the quotations allow an ad nem In nose taw stocks, though they are the single tamp- ebe Court. wiNDSOIL. Oct. 24. Thu Prisms Royal, attended by Viscountess Sess Imo eel la os egos Inniage yesterday afternoon. The amine of Minima sod Ledy Coeseance Vtlleere acompenhed usgelliabous le the wits gss Mews M Walea. th. Princess Royal. .ad tits Dan cumardes ibis* with her Move,. The Earl end Cense= d Olessolas ad Lod, Constance Va han. Lord liessbenk.r Ls. Btddulph, and Mr. Gibbs bed its beam dhtirc Wok& Tbs bog d do Ilsots Fasttier Guards played during ' l nto% . or e..coburi. Vrtiows% • tae --..._ Se* b e s tasilipm• ~f a -iil'ii~~ a... 0•1 The Hie edOembiMp heM hem dim mid Mt Ile Crib ids eta, elleeded 4 Led The Let end Cowden et Chased= e d day Canals Villiers sloe have takes dish depirture. The Qo.o. end Prism Contort, smompanied by the Primo d Webs, the Prisons Royal, sad Prince i th ek WI Wind ier thr amemost at ten o'clock this .rang, sehmeed oks t Vieroentois Jocelyn, Mejor-Heneral Boum* F. H. Seymour, and visited the Counter de Healy. The Royal prey afterwards smut to Hentptce-mert Pelson end retuned to the Castle at a Qoaresr beim, dz. In the evening the of Kent (sttsaded by Ind' Alignsts Bruce) and the Primer Royal dined with bar Ida. jolty. The Belgian Minister sad Miriam. Van de Weyer, Irly Cerullo) Barrington, sad Idaseenant-Colonel Howard Ty's, commend* °Meer et Ms Royal Horse Guards, had the beam of befog Invited. The busi et the Rimed Reim Goer& performed during MIMI: • *sea. Weber. M . smite ellataar . • 'Biol. Hu i iiiiiiii the Celan and played the felbwlng risen: emorsor•- -- 0•124d12 IT•Inor Mobil 4201110.1 f.1.1k MOM. MOW; 2 =I Isrome—mmis ra Myrago n t 0222422 . 822 DAT, =l2l. Tim Qu and Prince Consort, the Prince 1 Wake, the Pitman Royal, Prince Alfred, Primness Alloy end Prisons = the lake and gentlemen et the cosset, mid the bourehold attended Melee bervice thin morning Is the privets chapel. The Ductless et Kest slap err at the Service. Ile lion. sad Very Row. the Dna cd Windsor elkisesd. Dampatebeg front the Lord High Coentoistrioser of the heir lairds -we nenelved, on Setartny, et the Colosisl cdhoe.—Dsepatebes were sent to the Governor of the Cope of Good Hope. We (Glavo fa Daily Mail) are highly gratified t, learn that bar Majesty has Spilled her Westin of con ferring the honour of knighthood on our respected Lord Precast. We congratulate the citizens of °twos on this stark of royal favour towatds their chef magistrate ; and we venture my that few men have earned the distinction non worthily than Mr. Orr. The bake and Duchm of Richmond and Lady Cecilia Gordis Leanne are expected to lease Gordan Castle LH., the yeah after next foe Loudon en root, to Gooduooti Ar the winter. The duke sad duchies purpose paying visits en nub to the south: The Duke of Neweutle and Lady Susan Pelham Clinton have arrived at Clamber Port, Notts, from a tour in Sodload• _ . The Ntarehioneir Cnnyrigham has left Chesluun plow for Combat., Park, Oxfordshire, on a visit to Lord and Lady ChnrebilL The Marquis Zalbura baa arrived at the Brune i wiek Hotel from thishi. - - . The FArl and Countess of Wilton and Lady imarrioo Grey Egerton remove to Egrrtott bode, Melton Motritsy, seat 'reek, from Heston He'l. A ruoterche of viihuro rrW meet at the ebb 'err • heating-todp during the MM. The Earl Spencer and Lady Loth Spencer have arrived in St. Jamedes-Okv. Lord and Lady Colville have arrived at their seat in Scotland trout 'idling the Rail at Eglinton, at Eglinton Recruiting for the various Indian regiments is proceeding in the moat satisfactory menner. Last week the number of recruits who joined the Indian depots at Chatham wee dome upon 700, a number altogether unprecedented. In addition te these intelligence his been received that there me upwards of 600 recruits et the Tarime recruiting diserkta emblem to be forwarded to Chatham, where they are ex pected to arrive during the present week. The supply of vo mits coulee clingy from the London, Midland, and Novelises &rids, the neighbourhood of Liverpool haring famished • large number. The acknowledged posthumous soup of Berangcr will be published by M. Perrot in on November 3. Letters from Naples state that a palace is in pre- paration then fur the reception of the King of l'nuse, who W been advised by his physicians to pug the winter in Italy, but sccoeding to the latest accounts from Berlin the journey is unavoklebly postponed, the King protebly not Wag stomp enowitt to travel so far. It is said to be in contemplation to create in Paris as Italian gymnasium or ooneervatntre, wherein will be taught singing, bailees music, drelematios, and which w:11 consequently inch& open, tragedy, and comedy. The most dietinguiebed adds of the penineuM will be honorary Nombre of this sebblishment, and will by turas give a ispessabitios Ise the beet of ties new Institution. A amber et seed= lave already given their full and entire marks to We plea, among whom an mentioned Stavin', Deeded, La laelleasoa, Retort, At. A biograpitio despatch from Berlin announces dr death of Omar as Niebuhr, die weercary of tis Xfsg. _ _ _ A letter Nam' IL Petersburg dates that the Eat pre ter Imelda SW the vehisble depot of sops sot charts hereYg They see he le di instevad eat meld. knees atlases d i m beer d tabs Wow, lclodtea nisety•three desk old led stoba as e Imp scab. There is also am et Peke& ales ea • large semis; est or of tam, whited up is the moot per. UNITED STATES. SPREAD OP THE BANK PANIC. FURTHER DISASTROUS FAILURES. SEVERE COMMERCIAL PRESSURE. The Arabia, Royal Mail steamship, J. Stone, com mander, arrived in the Mersey last evening, with 105 passengers and 1,400 dollars in specie. She left New York on the 14th inst. with the mails from the United States and British North America. The steamer Atlantic has been detained for a week ; she passed a steamship, supposed to be the Vanderbilt, bound west. The news by this arrival is of great importance to the commercial community, it being reported that the ship has brought an enormous quantity of re turned dry goods. The money panic had come to a crisis. The state of effairs is thus described in the New York Courier and Inquirer of the 14th . . . The bank• of the city of New York, by their officers ',am bled at the Clearing Roues last night, resolved to suspend specie permeate this morning, and appointed a committee to proceed to Albany and request the governor to convene the legislature to confider the necessity of enacting some law to give relief in the present financial emergency. They also resolved to make the most energetic exertions for tho resump tion of epoch payments at an early day, and recommended that no dividend' be made to stockholders until such reinter tion. The cause of this action on the part of the banks was a severe run upon them, which commenced yesterday morn lag, and continued throughout the day, compelling during its progress many of their number to succumb to its pressure, and placing before the remainder the certainty of the wee fate, in the certain renewal of • run still more severe to-day, to ease they opened their doors to admit it. Never, Indeed, In the financial history of New York was there • more trying and exciting time then yesterday. For week. the merchants of New York had fallen in numbers, like go many sacrifices, in the Wambold of the banks, beyond whose iron "ors carfata no sespenes to theft spiel.; yesterday a multitude, like a ernfteirme meg, came down on the bank& themeelvea, and dim in tarn within the doors which they had inhowiered to ban so strongly. flow far the latter wee ligitiosto result of the former, how far it was in actual MOW of the former, we leave for the reader to determine far Waalf with the antecedents of the run of yesterday Wm. him. We need not describe this run in its outward features, each ens ONO the picture though he may not bare been In Wall-street or In the neighbourhood of the up-town banks—a street crowded with two distinct dames, the one thirsting for gold crowding in huncloda the doors of the banks, and forming long lines op the step and through the halls, with uxlona faces, and hands nervously clutched over their checka and drafts, crowd ing and jostling, and the other, the lookers on, crowding the side-walks, joking and wondering how long the banks would stand the run—ouch was the picture. Betwe• the dietremea of the merchants who have been called upon to pay when they had nothing to pay with, and the almost ',total destruc tion of confidence among the poorer classes et the p•,.pte, there were chaos and confusion throughout the city. Early in the day there woe a aimulteneons run upon the several beaks, of the city, we believe without a mingle exception. The Bank of New York, the oldest in New York, one always liberal to its customers, end especially so dotty; the late contraction, payed out its specie manfully until about one o'clock when deemed and payed nothing but bank notes and certified checks for the rest of the day. The Leather Mann torturers' Bank payed oat also until about noon, when it also stopped, although ninety thousand dolls,, in specie were duo Wit on its exchange coconut in the Clearing Ileum, but which could not be obtained. ea so the run pro gressed; one after another of the bank ceasing to pay specie, and paying batik notes instead, or closing their doors entirely. The following is the lid of the tanks inapended yesterday. There were repot t& of other', but this wit believe comprises all. Capital. Ciro'allots. 14011 s. 1. Merlon& issbongs 2. Ocean 3. Nardi Diver 4. Irviai 6. et llWlr _ & Mime 400,000 151000 7. Market 600 000 L Krim 0. TM Tosiimmes Br& BOO,OOO 22*,000 10. Th• llskisis awl Drams' Book 800,000 Ir,oou 11. n 0 Loehr gamorlacturrero' Book 000,000 220,000 U. Tb• Bank of New York 2,523,0(00 342,000 13. 7 — ha Cheiben Hark 14. TM New York Szehasp Bask 120,000 112,000 16. Belre Had Bank 16. Bank of the Blab of N.Y. 17. Broadway Book 1,000,000 212,000 IL Animas Beak 19. Peophrs Bank 412,000 107,000 Keay et the banks that sesintaheed themselves kept open their deep well Lae in the afternoon so no to give all a ahem* to pt their spade. Among thee; were the Bank of America, the Bank of Commerce, and the Bank of tho Con, matewealth. The Bank of America paid out some 160,000 dole. is specie, the Beak of North America 85,000 'kis., the Bank tithe Commonwealth 90,000 dots., and the payment stymie . . . . In alms about in this proportion of their t;lities stremeth. TM flassimaei of the Maxine Bank, we are Informed, was arerled by a any do main el their friends, some of whom obtained a writ of injunction upon their procsedin' go. This I wilt come on for trial In its regular course, without my sow. pawl= of vitality or of its elLtor ; and when at the and of the trial the bock chows it. Dona atreogth, it may rector ►miner without forfeiture. The ram wpm the banks was at first mural, by a hw DM • hoiden; sal If they had boa @eaglet there would have been no solar eau. On estartay, for inetanoe, the directory of the East River Bank East u usual for diecounting, and there was no serious run upon it until the middle of the day. The bank wanted twenty thousand dollen only, in coin, to sus tain themselves; and, in this emergency, applied to several large beaks down town fur sedate/roe. These latter tutted of 'asking a common cause with the weaker ones, are dote mined to break the latter in order that they may retain their own presumed strength. The Fast River Bank sad the Bowery 111111 k should both lame been aided by the stronger ►anks, as a matter of public interest ; for it cannot be denied that oak Wien precipitates that of others by occasioning a In. at ewairleste. On Monday the apprearbes to the several banks ware filled wit► sager depositors and bill hoiden., and the Orocen* Balk exhausted its specie funds end sou slued its doors. . . . . This, too, wan unnecessary , if the other banks had rendered soutane and thereby quieted the sideline:et. la s matter of this kind, of goad distrust and dread, the basks of the city should hove mods comma come, end suatethed each other ; but by allowing cos ar two to fail, they emoted dia trod of all. Even had this enures been wetted, and tho whole body of beaks stood together sad made • common • fond of their epode, th question whether they could have gulden:ad the persistent ran. &fore yesterday the demands wen mainly eonfinvd to bi&holdere ; but this morning the depositors seemed disposed to move in a body and claim their fund. There is wo difficulty in laicism these deplorable results Immediately to tho vacillating course of the Mtn (with mine few hotionrable and praisewort by eaceptions), and indirectly to a combination of unfavourable forage tradeand of entound Making. We panted oat, two or three weeks age, the then preadlieg causes of dieconamt smog ear merchants, who wan tbee suffering es will as now, hem en injudicious cur tailment of losaut—the treat of harmony sad conidatency in the teammate of the Make, and the issamaty Meting for • resemble eagasion of heiM lame to those having payments to snake. At a maths. of bomb a for days aftenrards, all them Chimp were oneoeded ; and some meunmes was giros that ea maw of Imam equieehmt to Ave pr cent. would promptly take yams. The mere pewees at this extension gem vest Mid the amt day : aced had it hem named in good bilk by every bask In Me city, n helices that one-half of the subsequent empeuelsee mamag our merchiutta would bare beau averted, se well as ell the bulk failures in New Trek end out of It. - - We speak the easflmrta of the tank conweetedel own inanity, when we use this language . sad we repent whet w bra frequently rid is thew column; within the pent these weeks, that the banks wwweentray isertlicai the inteehasto; red in doing this, Wry set only weekend thenwelves e bat gradually examparated d useallmis r a brig. Ws raw of the can Ira been tor by arid it or kr* bar don In the whole range of IIeCUI ides and merchandise now Ice sole. At the First Board Missouri Sixes advanced if ; Chicago and Rock Island, 3 ; New York Central, If ; Read ing, ; Erie, ; with Wes only amounting to eighty dol lars, La Cense and Milwankle advanced ; Michigan Cen tral advanced 2 over the last sales reported. New York Sixes declined If ; Panama Shares, 6i ; Illinois Central Bonds, 2. Other stocks remained at former price*. The sales are smaller than for some weeks, except in State Sera rides. These will probably not be forced on the market to the same degree, and thon who have delayed making In vestments, in the hepo of getting better prices will, perhaps, be &appointed. The New York Express states that at 3 o'clock on the afternoon of the 13th there were collected about 60,000 persons. The New York Journal of Commerce quotes ex change at 90 to 100, with a good supply of second clam at 90 to N. Among the principal failures were the following firms :—At New York—Harper Brothers, Wood and Grant, Hoppock and Greenwood, Connelly and Adams, 0. S. Haman, Buckley and Moore, Baptist and White, 13rummell and Roysters, ])ykers and Alityne, Hall, Dans, and Co., Ludlam, Leggett, and Co., L. C. Wilson and Co., Cahart, Bacon, and Co., Kitcham, Montrose, and Co. The New York and Eric Railroad Company's notes protested. The Michigan Central Railroad Company suspended pay ment on its floating debt. J. A. Genin, H. A. Coil, Seymour and Co., Co' rlies and Co., Corning and Co., in consequence of inability to sell exchange on London ; Fenton, Lee, and Co., Willetts and Co. ; at Boston, Francis Skinner and Co., George T. and W. P. Lyman and Co., Fele, Nash, French, and Co.; at New Orleans, Oakley and Hawkins ; at Balti more, the Albion Cotton Manufacturing Company; St. Leal., Dean, King, and Co., A. J. Mammy and Co., Collins, Kirby, and Co.; at Alexandria, Fowle, Snowden, and Co.; at Toronto, E. F. Whittemore and Co.; in South Carolina, the Bank of South Ca rolina, a state institution ; at Chicago, Wadsworth and Co.; at Cleveland, the Cayuga Steam Furnace Company; at Providence, Harkness and Stead. Se , veral banks in various parts of the States had also . suspended. The New York Herald says :—" For several days past, owing to non-payment of wages due, there have been apprehensions of a disturbance among the workmen at the railroad tunnel at Bergen. Yes terday labourers, to the number of 1,000 or 1,200, assembled evidently with the intention of making hostile demonstrations, but after detaining ono or two trains for a short time, through the intercession of a catholic clergyman and the Sheriff of Hudson County, and the presence of a military force, the mob was reduced to quietness." We derive the following particulars from various BuSTON, OCT. 14. (By telegraph.: At • meeting of the Baton Bank Presidents to-day a general suspension of specie payments was agreed upon. BOSTON, OCT. 13. Mums. Francis Skinner and Co. impended today. This is the largest dry goods communion house in the city. They were agent', of the Pepperell, Bates, Yeseelboro, and many other prominent manufacturing companies. The bank failures iu New York, to-day, caused considera ble excitement in State-strut, but as yet the news has had no pernspeible effect on our tanks, which continue to discount to a rearomable extent. The committee appointed at the meeting of Bunk Preeidents ' wee authorised to consult with and ask the co-operation of New York banks, in extending the line of discounts to solvent usercluintc. The Churl r states, in regard to the suspension of News. Frank Spinner & Co., that " they have stood through .11 the change', in mereentile affairs fur nearly forty years, end now they yield to the pressure from the utter impossibility of obtaining that which has no poser—money. Their means are ample, end their roepension is but temporary. They Lave resources to pay their debts nearly twice over, end their paper we are muted will now sell at Letter prim than much of the paper offered in the market. Such is the effect of the panic on one of the And dry goods firms in Boston." ST. Louis, Ocr. 13. A number of Santa Fe merchants arrived here to-night with upwards of 100,000 dollars in gold, foe the purpose of settling old accounts and purchasing new goods. " From the net th, east, west, and • few localities in the south," says the Washington Irstion,"our advicce in relation to barium and financial matters motives to be of the moat gloomy character. In addition to bank failures by dozen', we have now to record the bankruptcy of three of the largest rail road companies to the United States—the Reading, the Illinois Central, mid the New York and Erie. The Ann continues on with its bonuses in spite of protested paper; the Let two have made easignments for the benefit of their creditors." SCAPIXIION or tea BANE OF THE STATE OF SOOTH CARO,INL.—TIIII banking institution of the state was com piled by unavoidable circumstances to suspend this fore noon. A good deal of excitement, on the announcement of the fool, panda air community. There Is, however, no jest ceased pank—each a panic as will induce an unneces sary run op the other banks. The liberality of this bank in secommedating the people, when neither funds nor cur. may could be obtained from other:quarters, had so extended its discount and circulation lines that when the other banking institutions, insisting on constant die. (largos of balances in specie between them—an unwise and 'magma mama at this crisis—made • press upon It, Its suspension became inevitable. The note holders sad depositors need not, however, apprehend any lose, unless In their panic they choose to terrifies their securities. The Immediate liability on bills and deposits is about a million and • half. This is but a small proportion of the meets of the bank, which are unquestionable. Its discount line of promissory notes, its bonds, its exchange, its stocks, &c., all of which are realhable in a limited period, are nearly treble those liabilities. In addition to the amplitude of the assets and the general soundness of the lank, the state stands es a guarantor dile eventful liquidation of all demands.—Marfew ton News. Rice moan, Orr. Vl—Governor Wise ham limed a pro clamation prohibiting the notes of the Bank of Yenawha being received in payment fur money due to the state, in consequence of the refusal of that bank to redeem its note* and removing it largo amount its meta beyond the limits of the stele. Tho New York Courier and Enquirer of the 13th publishes the following despatch : WASHINGTON, Monday Night. The Central American questions are all settled. The es facto government of Nicaragua is recognised, and Mr. Iris- Nerd is to be received as minister. The form and details of the treaty with Nicaragua have been adopted, recognising the charter and contract of the old American Canal Company of the 22nd September, 1849, es amended 27th July, 1867, providing for the re-establishment of the Transit Line, and the restoration of the company's rights. The treaty Was unanimonaly agreed to by the Cabinet on Friday last, as elm the recognition of the new Nicaraguan government and the reception of its minister. Orders have been lathed to the commander of the gulf sqlutdron to arrest illibustering expeditions whtrever found, and Lord Napier has ordered Captain Erskine, commanding the British squadron, to capture all tilibuatcre, should they escape our squadron, and deliver them to the American Commander. The course of the administration in the whole matter bee been prompt, vigorous, and statesmanlike. George Washington Parke Curtis, the last mem ber of Washington's family, is dead. Dense fogs had caused several steamboat accidents at New York, fortunately without lose of life. Partial returns of the Kansas elections indicate success for the Free-state party. Pennsylvania gate election resulted in favour of the democrats. The Pennsylvanian legislature met on the 13th ; and the second Monday in April is fixed for specie payment in that state. Joseph E. Brown had been elected Governor of Georgia. The supplies of grain from the lakes were abundant. There were 199 lives lost in the Central Americo. The steamer Empire State sunk on her voyage to Boston, but no lives lost. The case of Mrs. Cunningham came on on the 13th, but she had fled. The news from lf &A ana to the ith states that sugar had declined, and holders expected to lose heavily. The intelligence from Mexico to the 7th says that the insurgents at the mouth continued to hold out against the government forces, and it was reported that Alvarez had been assassinated. The Custom-hone at Richmond had been bur glariously entered on the 13th, and 135,700 dollars stolen. Walker's army was being recruited with groat vigour, and hundreds of volunteers had joined. lotion, with a reduced stock of 2,000 bales, was only quiet and nominal, no transactions being re ported. Flour dull, at a decline of from 3to 5 cents. per bushel. Corn, 3 cents. lower. Sugar, no sale. Coffee,unchanged. Freights:—To Liverpool: grain, in bulk and bags, 40. to 50., and flour to fill up at ls. 9d. per barrel; some tea at 20s. ; to London, indigo was taken at 255., and measurement goods at 20s. BRITISH AMERICA. (From the Moutreal Pilot of Oct. 12.) We are sorry to say that we perceive no change for the better in the monetary affairs of the United States. The newspapers, it is true, speak hopefully of the crisis having attained its culminating point, or rather of having reached its lowest depth, and " touched bottom T" but the facts contained in the columns of these very papers give the lie to their words of consolation. The New York Tribune announces some more failures of important houses in that city on the previous day, among which were the celebrated publishers, Ilarper Brothers, and the Bowry Bank. Thursday's Tribune gave the names of about one hundred and twenty-five leading merchants, banks, and firms which had stopped payment within the preceding week, chiefly in Massachusetts and New York. We may be mistaken, and we shall be pleased to find that we are; but we fear things with our neighbours have yet to attain a lower deep of ruin before &permanent amendment can be expected. The panic, as it is called, is destined, we suspect, to penetrate every nook and corner of the Union. It has already fastened its fangs in the heart; it will soon reach the extremities. England, too, has to feel its effects; and how she will bear the bankruptcy, or disarrangement of the affairs of her largest cus tomer among the nations, is yet to be seen. We fear the circumstance is going to add to the many _ . difficulties with which sh;hasalready to contend. We trust Canada and the other British Pro vinces will come, if not unscathed, at least in comparative safety, out of the struggle. Mon treal, the great centre of Canadian trade, if taken per se, has been doing a safe and profit able business; but the same cannot be said of Quebec, and Upper Canada. However, the pre sent is not the time to enter on these points. We have one consolation not possessed by the United States ; our banks are solvent, and more than solvent—a fact which even the insanity of panic can scarcely call in question. The Toronto Globe says " We arc happy to learn that the chief officers of the several Canadian banks have been in communi cation during the last two days, with a view of de s-Wag some safe mode of easing the pressure now felt in the money market, and that some such understanding as that suggested by the Globe on Wednesday morning is almost certain to be arrived at. One or two points yet remain to be definitely settled, but we believe there is little doubt that a satisfactory arrangement will be immediately con cluded. It is gratifying to find that, without an exception, all the banks are fully alive to the un speakable importance of bringing the crop to market ere the navigation closes, and that all are willing to aid in effecting it, so far as can be done with safety to the institutions they preside over." This would undoubtedly be conferring a great boon on the commercial community, and the country generally ; as to the wisdom of the step, all matters duly considered, we will not pretend to give an opinion. We are not alarmists, nor do we insinuate that there is reason for alarm, whatever there may be for caution ; but we do think that the government ought to be prepared to call together the legislature, if ne• cessary, at the shortest posaible notice. EXPRESS FROM PARIS. (PROP OM OWN 001.RESPOSIDI1T3 PARIS, SUND&T EVINING. The government candidate for the third circum• scription of the Loire Inferieure, where there is a vacancy to be filled up, u the Mundeur announced the other day on Nov. 16, is M. Simon, a councillor general. It does not yet appear that there will be any opposition candidate. A M. Crucy, who wu for a moment in the field, has retired. The republican party have started M. Jules Fevre as a candidate in the department of the &Ohs, where a new election is about to take place, in the room of a deputy deceased. The learned advocate is now at Thames, where he is about to plead in another electoral cause, that of M. Bonecarta against the Opinion du Midi, the organ of the prefecture. It is rumored that Baron Sine, the rich Vienne banker now in Paris, is at the head of a company formed for the purpose of rebulding the levee theatres of the Boulevards, which are shortly to be demolished to make way for improvements. The estimated cost of the constructions is 30,000,000 k, of which it is said Baron Sins subberibes 13,000,000. , The truth of this report, which is going the round of the papers, is very doubtful. The Unicers r joicee in the contemplated destruction of the " Bea• ; leveed Theatres," as at least a positive good welch accomplished, and indulges a faint but still sweetly intolerant hope, that the chapter of accidents may indefinitely postpone their reconstruction. The attacks upon the memory of Prince Engem' e Beauharnais contained in the posthumous mcmoin I ir of Marshal Marmont, provoked a few months doe animated replies in all the French govemmeot journals, the Moniteur included. In consequence d the sensation produced by the discussion, a collectioe of the prince's private correspondence is about to be published, under government patronage. Coot Teacher de la Pegerie, the Emperor's Chamberlain. lately brought upwards of 2,000 letters from Basirill which have been placed at the disposal d the compiler of the work in preparation. The feeling in favour of Eugene Beaulutruais is Nen strong in France, and so far as I have been able to form an opinion, deservedly so. The name of the Boulevard Prince Eugene, selected by the mania. polity for the great street now making, which wit to have been called the Boulevard du Tronc, is an evidence of the strong feeling entertained in official quarters on the subject. The Prase says in its weekly'commercial reviser: The zwasares taken by the Bask of France to protect . bunion, have had, as might have been expected, a coif prejudicial influence upon business, particulsd/ a moment when preparations were actively use' lag for the winter season. Nevertheless, the dll° d of • rate of diaconal. of 7{ par cent., which, 1 4 basking commission amounts practically to 9 or 10 Po cent., is far leas distressing than tbo restriction UPI