Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1826-02-09
FOREIGN NEWS

The Bark Excellent CARVED at Chsrleston\
rings Liverpool dates Of the 2Oth and .ondon n,
'he,l6th These give no interesting items. eyce,t
the accumulated proofs of the rightfuI pressr. y,
the money market Of England. The panic in ON.
don was beyond description. To breathe doubt
about the solvency of mercantile house or pfiva,,
Bank, was IN some cases TO seal its fate Tber,
was at once run created; and he bills present.,
for redemption overwhelmed it, The ruin ex,endef
from the metropolis TO the country. On Monda~
| the 18th December the ver) extensive RankinY.
house Of Sir p p Thorn. on 81 Co. in L. ndon sns
pended payment: their failure more or less affected
JOTty-SeUen couBtry-banks OF which they were
correspondents. On Tuesday, the house OF Mesyr.
Williams, Williams & Burgess, with whom fourteen
or fifteen country banks kept their accounts, gave
way. The bank Of Sir Claude Scott s. Co. al the
wesr end of the town also suspended its payments
w Wednesday opened with fresh disasters The houses
OF Messrs. Everett, Walker, Alaltley, Ellis & On
and 81 Messrs. Sykes, Smith s. Co. both opped.
twelve country banks drew on the former establish
ment, and two on lie latter. On Thursday. the
house of Sir Walter Stirling s. Co. also failed
90 great had been The alarm among the bankers
and so fearful had they been of run npon Them
that several of them had nightly locked up with
bank notes and specie 10 the amount of a million.
10 enable them To face the storm in the morning
The mere circumstance Sf one of them shutting ~,
ball an hour earlier than usual, had scattered dotbs
OF lis sOlvency, and crowded the door of its bank,
ing-hous But there seemed 10 be signs tbs,
the inundation subsiding. The public were
partially awakening from itS panic on the 18Th
The select meeting Of the merchants. al which Mir
Barring had offered The most cheering resolutions
and the increased discounts Of he Bank OF Enc ad
sometimes to the tune OF million day, were re-
storing confidence to the public mind 1t was said
on the 10th, that The clerks at many of The houses
had been idie hdifthe ddy;andt there had been no
considerable run upon any OF Tie bankers The pub
lie stocks whchbad sunk during The universal panic
had risen again. And 1t was said on the Evening of
the 10Th, that Messrs. Everet s. Co. would resume
their payments the next morning; and RIes.rs.
Williams & Co. and Sir &. Scot s Co on the
I7thO 10Th
30 extraordinary and unprecedented panic bad
not been sufficiently analysed. They lad been
100 much intent on consequences 10 look critically
10 causes. Let US ex.tnguish the flames, they said
before we trace The origin of tie mischief So
lar as ne causes were real, they mast probably be
found IN the Overlooking, which has prevailed
through England during The last year. WHEN
was there so much speculation? 50 many wild
schemes struck out for investing capitall 50 many
joint stock companies organized! 50 much gam
bling in stocks created for the purpose OF spcaula
ton? since the days OF the South Sea Scheme in
Englaud, or the Mississippi project in France ;
But this panic was probably more fictitious than
real in It's origin. Many Of he loeses which haze