The Sun.
London, England, 1839-11-20 00:00:00

EV ENT!

'dice, or in our osn funds, and rarely rr quires, bt'tlat'''
she rarely needs, specie. But a sudden trouble h,:S
come upon England, which raverses the whole of our i
relations. Her crops have failed, and she is forced to pro- '
p. °tile ag,:n !, fatnind by purei.,,,sing awl
ut,r iri,:zt furnish a nisi ket
r er.p,, hat hoar het c 4;11 ,tour ), who can furnish
Hi caper can ; as these arc comparatively
must pay. with
it- tier loud. Accordingly, the Ba di of England
al tie has been ouliged to furnish more than 35,000,000
dollars in specie to be shipped abroad—a drain that has
threatened that Institution with suspension. By the
.alest statement of her affairs, it appears that wish int-
in, dice demands for which she is liable of 25,742.0004,
the whole stock of specie is only 2,800.0001., and this
after borrowing from the Bank of France 2,000,000/.
—so that without this extraordinary aid her
position
wauid have been extremely critical.
" The consequence is, that, money has risen to twice
or three times its ordinary value ; that the staples of
this country are unsaleable except at ruinous sacrifices ;
that the stocks of this country sent by the States, or by
the banks, or by individuals, are wholly
inconvertible,
leaving, as the safest and the favourite mode of paruct!t
the exportation of specie. The demand for this articie,
is still further increased by the efforts made in Engliu!
to produce relief at home. The manufacturer, passed
by some urgent want, empties his warehouse into the
packets, and selling his goods here at a small sacrifice
for notes which are discounted at a second sacrifice, be
ships the specie, which reaches England in time to re-
lieve him, leaving this country flooded with goods with-
out
any regard to its wants or its consumption.
" The result is, that the coin of this country
is
wanted in England to send to the Continent for 10
that a very large portion of it has already gone, andr
that the rest will probably follow. The Banks of
Philadelphia have already contributed many millions,
one single bank of their number having, since the-
sumption in August, 1838, paid out no l
less lb
8,712,000 dollars in this city alone, and the dentato
seems to increase instead of subsiding. Opt
" Under these circumstances, they have had to ad
one of two alternatives—either to force the community
by sacrifices of its property to pay its debts he to the
banks in gold and silver, to be shipped forthwith
an.,
England, or else to resort to a temporary suspension
until the community, as well as the banks, could have
time to recover from the effects of these foreign troubles.
They have not hesitated to prefer the latter
the most conducive to the true interests of the state ;
,r 4 be
and they confidently rely that their motives
duly appreciated by the public authorities of the com-
monwealth. To that commonwealth they owe their ex-
istence, and they regard her prosperity as a paramum!
consideration to which they have always sacrificed their
own merely pecuniary interests. Every loan wan".
for the service of the State, every great improvement;
for the development of its resources, has always found
as being
a constant and liberal contributor in the banks ; 13"
it an exaggerated statement that four-fifths of the funds
for the internal improvements of the state have been
contributed by the banks.
" On the whole, the views which the banks of Nile-
delphia wish to present are these.
" That they were reluctantly obliged to unite in the
resumption last year, declaring if it were postponed fotr
farther dreparation it would be general and permute°
to have
" That events have proved the resumption
been premature, weakening the Banks and the couotry.
"'chat in this exhausted condition they have to eir
counter a fresh demand for specie, to buy food for the
people of England, which threatens to drain the hist
dollar from their vaults.
" That every motive of prudence which caused the
suspension of 1837 applies with much greater
influence
at the present moment ; and that the Banks of Phila-
delphia have thought themselves justified in resortiugec
to it, as the only remaining protection for the interest's
intrusted to their care.
" In adopting it, however, the banks would not east
the remotest censure on those institutions which pursue
a different course. They desire only tr, explain them,
selves, not to criminate others. They think that it °-
impracticable for them to continue specie Pigments
without sacrificing the community around them.
" Their own proceedings they thus submit to tue
people of Pennsylvania, who are the best judges Of
their correctness ; but the banks confidently pledge
themselves for the sincerity of their views in adopting
it, their honest anxiety to protect the interests of the
state, and to husband its resources from being swept
away by this current to England, and they now respect-
fully but anxiously wait the opinion of the Legislature
of Pennsylvania.
" JOHN WHITE, Chairman.
" WILLIAM WELSH,
" JAMES S. NEWBOLD,
Secretaries."

(From the New Orleans Commere;.al Bulletin, Oct• 19')

SUSPENSION BY Ting NEW ORLEANS BANKS. .11
At a meeting of the Presidents of all the Banks In
this City, held last evening, the following resolutions
were unanimously passed :
" Resolved—That in the opinion of this mentirg:ol:l
suspension of specie payments by the Banks of L005;a0,,
is inevitable; and that, therefore, the immediate aub rst
don of such a measure is urgently called for by the
e
interests of the community,
nks
" Resolved—That it be recommended to the ma
to suspend specie payments until the Northern Banks
shall have resumed their payments in specie.
" L. HERMANN,
" Secretary to the Board of Presidents.

SPECIE PAYMENTS.
Tile Banks in the interior of Ohio, as also those of
Indiana, have not yet suspended specie payments.

CAPTURE OF A SLAVER.
(From the New York Herald of the 29th ult.)
ANOTHER SLAVER ARRIVED: On Sunday tuLe
schooner Butterfly arrived from Sierra Leone, in tb.irter
r
two days' passage, in charge of Mr. Thomas, ran officer
attached to her Britannic Majesty's brig Dolphin. She
was captured on the coast of Africa, near the same Place
where the Dolphin fell in with the Catherine, and she,,.
was bound to the same port on the coast with a cargo of
tobacco, and for a supply of negroes. When boarded
she had her original cargo in, but the slave deck, Sec.,
were found on board, and her papers signified her busi•
ness. In May last she was owned by Nathan Farris'
worth, of New York, and her register was taken out at
New Orleans by him. He proceeded in her to Hoar
nah, and to all intents and purposes sold her there. Her
American register was dated New Orleans, May
1839. After she was sold her papers were endorsed
over as follows :

" Consulate of the United States of Amer"ie
Havannah, June 17, 1839. ,
" Isaac Morris has taken the oath required by 10%
is at present master of the within-named vessel, in Plane
of Nathan Farnsworth, late master.
(Sig=ned)..J. A. SMITH, Vice-Consul." t
Captain Morris is an American, but the balanee 0'
those composing her crew were Spaniards and port
guese. She was built at Baltimore, but at what time
not known to us.
Motu INDIAN MURDERS.—FLoamt.---Thg Key
South Floridian, of the 7th instant, brings 11-;
lot 'nation that on the 27th ult. two soldiers levo
negro interpreter were killed by the Indians en ut,
River, two miles from the fort occupied hy. eto
Tompkins. The Indians, it appears, had darnon,
wh:ch they invite;', Lieut. Tompkins and anal' gniltheet
but none w'.,nt except the three. It was suPP" bq,en
if the il-ivitation had been accepted all would have at
HarneF,,
Lieut. Tompkins sent to Colonel
att,acii
A.ey Biscayne,
,for a reinforcement, fearincr
,"• t Sloan,
and a detachment was sent to him, under s4teu •
of the marine corps.