Northern Times.
Liverpool, Merseyside, England, 1857-11-23 00:00:00

AMERICA.

ARRIVAL OF THE PERSIA.

kite Royal Mail Steamer Persia, Captain
with 'tau, arrived here about noon on Saturday,
605,e,atir days later news, 69 passengers, and
ts°l_ol. dollars in specie.
c0,24e news to hand is of an interesting character.
ttaTtnercial affairs were in a much more gratifying
I
the"?' and the Money Markets of New York and
It ipterior, were becoming more easy every day.
°tlld appear that there was every reason to
ipeeve that the New York Banks would resume
T eie Payments on or before the Ist of January.
84e New York Clearing House Association of
Otii4YB Were in full session for several hours on the
Bid Inst. The only formal business was the con-
eration of the report from the Committee of the
ie°,eBe, which, after some amendment, was adopted
41e following form :
Saturday. November 7, 1837.
't meeting of the Clearing-House Committee, and
tia,,,olzmittee on the reception of State money was th's
of eeld at the Merchants' Bank, at which several Bank
be_cots from Albany and the interior of the Steve were
kilent by invitation. The following resolutions were
ted by the meeting, viz.
solved : That the Country Banks be requested, on
tot,,,Yter Monday, November 16, to redeem, daily, as here-
:, in the City of New York, such:of their circulating
ear as may b 3 received by the Metropolitan Bank, on
red after that date, and that they be also requested to
ottani on the January next at par, twenty per cent.
i 0145 amount which may be held by the Ci y Banks on
t-LN 16th day of November, and twenty per cent. monthly
iZalfter until the whole amount is redeemed, they paying
tat at the rate of six per cent. per annum on the
1,:allt of their notes held by the City Banks on and after
llit,„day or December, wi h the understanding that any
b 42 May anticipate the redemption of is notes so held.
01.7eolved : That weekly statements be made to the
,7itig-House by each associated Bank, at ,he close of
sl.,' Pas on Fridays of each week of the amount of State
trx Notes and of Metropolitan Bank Certificates held by
Viesolved : That all notes taken by • the Metropolitan
144}t hereafter be assorted, and that the notes
kt are now on hand be also assorted un'er the
Zection of the Committee at the earliest practicable
retiod.
: That any country Bank shall be informed at
&awn request of the amount of its notes on hand at any
Vaud be allowed to redeem them at pleasure.
e2esolved : That if the amount of the notes held of any
eTk shall, in the opinion of the Committe, become
On Of
or disproportionate they shall call for a re demp.
t„'"", Of the excess. within te;day., failing to receive which,
-'ec notes shall not be taken by the City Banks
ei solved : That the Metropolitan Bank shall be respon-
th ie for the amount of notes covered by their certificates
na correct counting of the money, and its genuineness,
'l;4lt it shall not be liable for the solvency of the Banks
4.2115 notes it may so ho d.
eiesolved : That the compensation of the Metropolitan
irk for its services in this arrangement shall be deter-
tedteed by the Clearing. House Committee at the final
raption of the notes, and their decision shall be con-
etted final and binding upon all parties.
tot esolved : That the expenses arising from this deposi-
and any loss which may finally accrue from bills of
hoolvent Banks shall be assessed among the Associated
Mks in the Clearing-House, the same in proportion as
contingent expenses of the Route are assessed.
101,he New York Times, in its money article of the
t,. 41 inst., thus alludes to the foregoing resolu-
tns
This action, if satisfactory to the country Banks. will
probably lead to the quiet and early resumption of pay-
-1,1,te in Specie. on all obligations throughout the State.
r 4 a City Banks have not strengthened themselves
trinaically, for such a step but the public have shows
ineient confidence to run up their line of deposits
,000000 dole since suspension, and most of this being
gold, for which there is no immeaitee considerable
demand, nor likely to be for some time to come no further
reparation would seem to be necessary. The country.
4 ,ks have not the advantage of the use, on-sufferance, of
ttiicailar cf d: posits, but their circulation has the
to confidence of the community, while the loans owing
o
tb.them are no doubt at well, if not, better Fecund
cl 2 the mercantile bills under discount and in sus} ense
ownthe city barks. The credit of the latter wee struck
by mildons through the fo'ly and discord of the
themse'ves in September and Octol er, in so, much
tan outraged public were more than content, in the
iitd, to tee such management rush to its own dishonour, as
mk(lid on. the 13th Octobar. The fact, made manifest this
to%ltoon, b)th by the bank statement and the foregoing
ilecedings at the C earing-House—which eleatey point
earompt resumption, the country banks eoncntring_
thndantly strengthen the a!ready wide spread be'ief that
Whole scene referred to was an unca'lerfor panic, the
8t1!t ,e bank infatuation, ant for which the most b want
advocates
e. of resumption, " with or without the country,"
are largely responsib'e.
The Averages of the B in the City of
sty York for the week ending Saturday, Nov. 7.
present in the aggregate the following changes
rritlc3
a the previous weekly statement of Saturday,
'Jet
Incze^.se in Loans ... . Dollar,. 543,437
Ice ease in S ,ecie
, ,
Increase in Circulation
Increase in Unclrawn Deposits

The statement is a strong one for the banks,
11(1 will be generally satisfactory to their de,,lers
The turn in the loan is almost as ac.ceptible
feature in the restoration of a but -r state of things,
a 9 the large increase of deposits, more than three
fourths of which is in gold.
L The present week, says a New York paper of the lOrh
opens on a rising average of specie, and the banks
probably held this afternoon at least seventeen and a half
besides a reserve of country bank notes of five
.14(1 a half millions The business in exchange to-day is
tits dull and the extreme asking rates of Saturday on
London are not maintained. The remittances are not
h°
Illneroua and most of them are indisposed to buy sixty
'437 bankers' bills on higher terms ban the commercial
r,natures of undoubted character, preferring short sigh
gold itself where a prompt remittance is desirable,
tlitther than pay the specie rate for sixty-day bills. On
018 subject we insert from a practical and woll-advised
terea a communication over the signature of " Mercator,"
ti 5 Suggestions of which appear to be timely The quota-
on this afternoon on London is la 07; to 108,1 The en-
gagements of gold for the Persia are thus far less than
4a, half a million of dollars Some additions are expected
t 0
be
n°oe made to-morow, but it seems doubtful whether the
1,,Lal shipment will reach the estimate at the close of last
leek, say 1,200,000 dols. The price of gold to-day is
1;1 to 101 per cent. The exchanges on Philadelphia
Ziunproved to 961 per cent, and on Baltimore 93 to 93r
cent.
13
el'IY our advices from Washington, we learn thee
Qng,ress meets on the first Monday of Deaember,
had that already the canvassing for the Sneaker-
th•
IP, and other offiocs in the gift of the House of
e'ePresentatives, has commenced. A Washington
(Irrespondent writes .-
41 hough
Orr is more talked of for Speaker thsn anybody e,
iutuough that fact does not add to his chances. He has
I.:" a standing candidate for some time, and for that
season has been mare spoken of than others who command
e`aer share of the hea goodwill of the old members of
4"grrg ess. He seems tort hy a veoo the inside track ; but there
ena .v,ery general feeling of distrust of him all through the
Cobbthat may at any moment upset his dish: Secretary
e0"0 is understood to be figuring for Orr's election, of
etinta„ with a view of strengthening himself as a future
kal'uidate for the Presidency, by securing a controlling
touaence in the organisation of the house. This has come
in b„:5 a regnlar element in the science of national politics
as Ue United States—the effor .ta-ef-aatifirants being, as far
ft, Possible, to reverse the policy of our governmental
tem, and centralise it for their individual benefit.
4ri• John S. Phelps, of Missouri, is also a promi-
ti;lit candidate. Though a very decided partisan.
ere is a bold, f ank manliness in all he says or o
t"tid, , which wins the confidence and respect of
ae
ti„ and foes. Far more popular than Orr among
eou members of the house, he must prove a formidable
43Petitor if he submits his claims to the consideration of
4
ae:4"119. Though from a slaveholding State, and so
skePtable to the South, all his local interests and sympa
es are far more akin to those of the great Northwest
td x,
'orth than are Mr. Orr's—and for that reason he
110,4,7"37 may be expected to prove a favourite with
itel.ern Democrats, who would not s'rengthen their
ito,l,lldual positions at home by selecting a South Carolinian
th'heir suffrages. Hon. J. Glancy Jones, of Pennsylvania,
the"gh not presented as a candidate—for the reason that
geliAlLoPriety of taking the Speaker from a Slave State is
for "ZuY conceded—is nevertheless talked of, more or less,
in the Place, and if any difficulty should occur in caucus
S e,,, °election of a Southern candidate, it would not be
ititisieg Mr. Jones became the point of union, for he
bye 'Astalted.. and esteemed by the entire South, as is evidenced
pitt ~,yreas of all sections of the Democratic Party in that
tile Union. There are ;several candidates besides