Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1839-11-07
Extracts rom lie Correspondence cfhe National
Mteiigencer.
New YORK, October :


New YORK, October 90.
OF the intention Of the banks TO maintain specie
payments now at all hazards, no matter what may
be the mercantile bankruptcies, there is no doubt,
for such last night was their unanimous resolve
Failures, many and severe, Of course must ensue.
II is impossible that it can be otherwise; and yet
never were merchants so little extended, never
more prudent, never less specializing. never SO de-
voted to their own strict line of business.
The Wings of the city have completed their As
sembly ticket, which is q strong one. The Tam
many men have also put theirs in the field, which
is worse than usual, but better than was expected.
The two parties are now ready to go into the war,
but amid the money excitement politics are not
much talked of as yet.
The two Spanisrds RUIZ and MoNTEz. are libe-
rated-Montez on common bail, and Ruiz on justi-
fed bail. The distinction was made on ground
that Ruiz was the owner of the slaves on board the
Amistad.
New YoRK, October 81.
There was an immense meeting of the merchants
of the city at the City Hotel last evening. The
large Hall-one Of the largest public rooms in the
city-was literally thronged, and the ground floor
and every avenue leading to the Hall was filed TO
overlooking. | have never seen so numerous n
meeting befure in New York, and | believe | do
not make too large an estimate when | tell you that
between six and nine o'clock there were not many
less than ten thousand visiters at the Hotel. OF
course but a moiety Of this number remained, for
the reason that admittance to the Hall was impos-
sible.
The object Of the meeting was 10 hear the report
of the bank officers who had been in convention on
Friday. The answer of the banks to the earnest
petition of the merchants was, briefly, that specie
payments would be sustained by the city institutions
At all hazards. The next resolution Of the Conven'
ton was, that at present it was inexpedient fur
Their to curtaiI the line of discounts.
These two points embraced all the action ofthe
Convention. They afford any thing but an answer
10 the resolutions at the merchants meeting or
Thursday evening. The request then was, that
the banks would, if in their power, extend their
line Of discounts; and the expectation was that
the Convention would say az or no to so reasonn-
BILE q request. Their answer, you sec, Is an eva
sive one" at present it is lnexpedient TO curtail
the line of discounts"
Again. the merchants begged that the city banks
would receive and pay out the notes OF the Safety
Fund banks. The Convention did not even consi-
der this c~destion, except BY a reference to their
letters TO this merchants, which you have already
seen published. Therefore this, the first hope al
most Of the merchants, ia disappointed, for the rea-
son that four,ffths almost of he circulation here is
in Safety Fund paper.
, Notwithstanding these unsatisfactory, and to
some perhaps unexpected, answers, the meeting
on ,be whole was a harmonious one. The mer.
chants resolved as one man to stand by the banks
in their efforts TO pay specie. This convention and
this resolution of course decide the question as to
suspension here. Tho opinion is, that IN no event
can such an event happen. Upon +" sober second
thought" it is believed here, and was so said al
the meeting Last evening, that the merchants will
snstsin themselves, the great majority OF them al
least at all hazsrds, Between them the kindesi
feelings, the greatest confidence, snd a general de-