Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-08-03

looks as If no practical good was con-
templated from 1T. At first positive
refusal was given to allow any delay in
the payment Of the custom bonds, or
IN other medium than in specie, but
the Collector undertook, on has own
authority. 10 suspend the execution of
this law. and in another application to
the Treasury. leave was given TO post
ponc paymeai, under special circum-
stances, for 80, 80, or 30 DAYS, on the
condition that interest at the rate Of Il
per cent. was 90 be added.
In ITS general effect, tins universe al
stoppage of payments. so far as the L.
States are concerned, has produced. as
would be anticipated. a sensible relief
The merchants were no longer under
the necessity of exerting themselves 10
obtain gold for remittance 10 Europe
their correspondents would see al once.
from the state of things described, that
II was altogether out of the question
Prices had risen. aud would no do,; ,.
continue 20 rise: for where the me-
dunn OF payment was mere paper, I'M
convertible into specie, there must ne
cessarily, among themselves, and for
the moment, be general advance
Sun their situation was a peculiar and
anomalous one IN many respects. As
there existed no government bank.
such as the Bank Of England might be-
said 10 be at the time Of our stoppage
OF cash payments in 1877. and such as
the United States Bank was ur to IS3i,
when the charter expired, there lite
rally existed no form of paymcn, Of the
character Of a legal tender, exccp, as
made SCI by the local Governments.
which could have no influence in the
other States of the Union.
The important question as regards
/ this country, is. ia what manner our
prospects OF obtaining payment of the
deb: due 20 US are altered by the stop
/ page of the banks; and we have been
surprised to find a very general preva-
lent opinion in the city that We are
much better of in consequence Of IT.
! This Is a course Of reasoning VIII h IL
Is utterly impossible TO comprehend or
to explain, except by the supposi,ion
that men, placed IA a situation OF grea,
peril wilfully flatter and deceive them
selves as 10 consequences. Before the
events which we know bad occurred
there was prospect either that specie
! must be forced from the American
banks, or produce so much lowered in
pr.ce as 10 make that an eligible re- nit.
lance, but the first consequence is now
put totally out OF the question: and rs
the produce growers Will not be com b
PEELED To sell the other seems equally
so, and the finding a mean. 4, F., payment
for the European creditors removed
farther off than ever. The faCtis. that
the Americans have proved too cum
ming tor US. and the European credit
ors may 60 and whistle for their mo-
ney. Failures Of banks in the Union
by Wholesale are nothing new-ihev
happened almost as numerously as now
I IN proportion TO the then existing mum
bers, in 1914 and in Isis but The
present case stands alone in one re-
spcct, that Of being means Of evad-
ing payment TO the foreign creditor.
FRANCE.
: Paris was beginning to feel the com
mercial arrangement very senslbly -
The wsll-known American banking
house Of Welles y Co. had become so
embarrassed that IT could not meet ITS
engagements. a number of French
banking houses had come forward to
ITS AID, and by their guarantee obtained
from the Bank OF France a loan of four
millions Of francs, on condition that
tho house shall wind up i;s affairs.
A fatal accident occurred Ia mar the
festivities On honor OF the duke and
duchess, lately married al the Champ
de Mars, on the night Of June 10Th
At about eleven o'clock as the i'm
mense crowd were retiring from the
scene. a woman tainted and fell IN
an instant, several Of those behind her.
who were pressing on. fell also by trip.
ping against her. and panic taking
place, fearful scene Of confusion
followed, in which twenty three per.
sons were suffice ated aud IL more Sc
fiously injured
The number as .embled IN the Champ
de Mars were estimated at 300 900. II
was Just at one OF the gates that the
fatal accident occurred.
Another account SAYS that the killed
were 25-lO men and II omen and
the wounded mO.e then 100.
II - mentioned as both remarkable
and crcdiiabie. thai one Of The sufferers
lady, tie vile u a nch merchant,
had on her 6ogers and IN her dress q
number Of valuable jewels not one oi
which way missing from the body.
Ia every cs.o the death was ascribed
to sufocstlon. bot some q the bodies
we're fssriully crushed and bruised. by
being trodden under foot Tho men
killed were mostly young the women
advanced III year.
The King and al The Royal famhy
had show tic deepest affection at ibit
unfortunate event. The King Wished
all The rejoIcIngs 90 be discontinued
bot his wishes ~ tbs respect had been
Oyerruled by The muntCIpal council.