The Sun.
London, England, 1857-11-13 00:00:00

" CITY OF GLASGOW BANK.

" The directors deeply regret that in conse-
quence of the excessive demand on the bank for
gold, they are under the necessity of suspending
payment in the meantime. As this painful neces•
sity arises only from the pressure of the times,
and not from losses sustained by the bank, the
directors hope that with the forbearance of depo-
sitors arrangements may soon be made to enable
the bank to resume business.
" By order of the Directors,
"ROBERT SALMOND, Manager."

Crowds were, of course, collected at the diffe-
rent offices, but no attempt at violence was made,
although a large police force was necessary to keep
in order the low characters who mixed themselves
largely among disconsolate depositors.
At the Union Bank the run was also very heavy,
but the directors made arrangements which enabled
them to meet it without the slightest difficulty.
300,0001. in gold arrived from London before bank-
ing hours in the morning, and was escorted to
the bank by a number of directors who waited at
the station to receive it. They have also, we are
informed, the offer of as much for to-morrow's use.
The crowds who presented themselves at the tellers'
tables were largely composed of individuals with
two or three oue pound motes each, who bad got
the idea that paper money of any bank was
unsafe. The depositors demanding gold were
mostly entitled to small sums, and those merchants
and men of business who were reluctantly obliged to
draw were generally quite willing to take the bank's
paper. About a quarter from 3 o'clock (the closing
hour), the Bank was nearly empty, and the doors
were kept open for an hour or two later, affording
most satisfactory proof that all demands had been
fully met. The Union Bank has passed triumph-
antly through a very severe ordeal, and we have
reason to believe that the panic generally will now
subside. The Western and City Banks' notes are
now current as freely as before their stoppage, being
accepted by all the banks as deposits, and by the
shopkeepers generally, as readily as gold.
The magistrates have made ample preparations
to repress any attempts at violence which the
"roughs" of the city may seek to create out of the
excitement. A detachment of the Ist Battalion of
the Rifles have already arrived from Edinburgh to
reinforce the garrison, while a considerable body of
Lancers stationed at Hamilton are kept ready to
march upon the city. There appears, however, to
be no probability of their services being needed,
although the movement, as a precautionary mea-
sure, is a wise one.
The following address has been issued to the
working classes by Mr. R. Willcox, corresponding
secretary of the Masons' Association of Scotland;
Mr. James Jardine, secretary of the masons' ; and
Mr. W. Duncan, treasurer of the masons' :

"Fellow-workers,—As parties who have long been
connected with the working classes of Glasgow, we beg
to bring the present state of money matters under your
most serious consideration, and to call upon you to sup-
port the authorities in their endeavours to restore confi-
dence in the various banks of the city. Especially do we
wish to impress upon you the undoubted safety of the
National Security Savings Banks, the sums deposited in
which are lodged with commissioners in London upon
the security of Government. Have confidence, working
men, and show that, as far as you are concerned, you
feel convinced that there is enough of gold in Scotland
to carry us through our present difficulties. We believe
sincerely that were a public meeting of the working
classes called you would come forward in sufficient num-
bers to fill our largest hall, and declare to our English
friends that we have no need of assistance from them.
With a due exercise of caution, we will soon be able to
prove that we do ❑ot need the Bank Charter Aot sus-
pended. We also appeal to domestic servants. You may
have 31., 41., 51., or more lodged in the savings bank.
Let it remain there, and do not, by calling it uo, create
a false idea of the stability of our Scotch banks. It is
safe and secure, and there let it remain. A foolish panic
will only tend to land all working man and working
women in ultimate distress. The end will just be a
stoppage of public works, and our being discharged from
employment, and we will only have ourselves to blame.
Let us, therefore, at once aid our employers and the
authorities in preventing such a consummation. We
have seen one of our employers to-day—leng connected
with the trade we are employed in—and understand that
he was at a meeting to-day, where he expressed the idea
that the merchants of GlAsgow bad 113 need to go to
Ensland at all, as we tradesmen would support the
authorities in this crisis. Be sure, then, to prove as
good as he said."
It was mentioned with great indignation on
'Change (says the Glasgow Daily Mail of yester-
day) that one gentleman, a partner of a bank
director, had busied himself in urging parties to
withdraw their accounts from one of the banks.
Such conduot is almost incredible on the part of
any person in the position of a merchant, and we
should hope that there will be no other instance of
it. The Scotch banks, as a necesesary precaution,
have ordered large drafts of gold from London ;
and a meeting, we understand, takes place to-night
in Edinburgh, for the purpose of concerting mea-
sures of mutual assistance in the event of any re
newal of the run.
We (Glasgow Daily Bulletin) regret to learn
that, from the present distressed state of the
money-market, several of our leading public works
will have to be closed shortly. Yesterday one of
the most extensive cotton spinning firma in the city
shut up their works till further notice. This is the
more to be lamented, as a large number of work-
men, male and female, will in consequence be
thrown out of employment.