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

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 iii
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-