The Hawk-eye and Iowa patriot. (Burlington, Iowa) 1839-1843, 1839-10-31

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81 4 TIIEl USPENSlONS.
MI se4 Il BALrlMoRE, October 10.
By the rail road cars last night, from
pbladeIphia, authentic information
VAS received in this city, Of the, su 1:s
ension Of specie payments, yester-
az by the banks in Philadelphia. This
aecisiiye movement, in the commercial
metropolis Of Pennsylvania, ogr9near-
est uneighbor city to the East, seemed
q leave no. alternative to the Banks
IN Baltimore, but imposed a9necessity
son, then part-it they would be true
TO tbesinserests of the community in
lwhchsthey are located--to adopt u
.simaarcourse OF action. A meeting
gftbc officers and directors of the Sc
yeral baAksin Baltimore was accord
inslyhsld this morning, at eight o.
dock, when, on the annunciation Of
The foregoing fact, i resolution 20 sus-
pend specie payments in Baltimore,
vas offered and unanimously adopt
ID.
The measure thus. adopted, was
made known at, the, opening of the
banks this morning, and, SO far as we
hear, fully acquiesced in by the COM
munity, as one dictated by Prudence,
notless than the necessity of the case
andaa just regard to the interests OF
orcitizens. r
The specie of the country is rot in
shcient quantity to pay atonce, in
that medium, the whole debt Of the
country at home and abroad. This
being conduced-for indeed, no pro-
position can be more self evident
the questions then come up:-Shall
we go On, shipping our gold and sill
yer to Europe, j million at time BY
every departing steam ship, unit! the
whole is exhausted, and the bushes:
energies of the. country prostrated?
Gsshall we stop short in Il course
hat cannot be persevered in to the
end; and, by a present and timely sus
pension OF specie payments, preserve
the energies Of the country in a con
dition to take the most efectual meas
lres for an early adjustment Of all its
liabilities, both at home and abroad
The second alternative involved ii
these questions was adopted as the
proper one in Philadelphia. And be
lnss adopted there, every considera
ton Of prudence and expedience, re
CURED the adoption Of the same course
IN Bal,morc, as it will unquestiona
| Ply be adopted in every section ant
state Of the .Union.- Pct.
SUSPENSION OF SPECIE PAYMENTS D,
THE BANKS IN PHrLApELpHIa.--We re
ceived by the cars from Philadelphi;
last night, the papers of that city o
Yesterday afternoon, by which WI
learn that the Banks of PHILADELPHIA;
suspended specie payments on thu
Banks on Yesterday. We copy be
low from the Philadelphia Gazette ant
NATIONAL Gazette their statement o
this important movement. ''s
i sstatedY in the American, of thi
mornings 70 nm s, on the authority Of a gen
e ~ !, an who arrived last night from
hlladelphia, that on Tuesday after
noon large drafts on the Philadelphi;
q banks for specie were received iron
view : York. On that night a meet
ing o. the bank officers was held, an,
i was determined that the draft
should be paid. The fact that thi
meeting was held became known
however, in various parts Of the city
and Yesterday morning when tn
anks were opened, there was a reg
uar y, run upon them for specie. On
" a. .he s banks soon ceased paying. ant
sslls fact, it is said, determined som
vllhe others, and in the course Of tn
y mos most if not all of them ceased iul
uer payments Of specie. $3.50.
Ials statementisnot corroborate
oysthe articles in the Philadelphia pa
Nrs, and is md!ylcorreet. Thesus
pension was, no doubt, determined o.
y the meeting held by the bank off
GERS On Tuesday night ID.
An INCIDENT Ar SEA-. Some tire
OF four years ago amerchantman fror
one OF our New England ports wa
becalnied off the Sandwich Island.
i was 4 calm Sabbath morning. m
tae eaGptain proposed, for the obser,
sa 4 Z; g appropriate religious service wi
vat preacher should be sentfor frol
one q the Islands, to deliver sermo
g board to, the crew. With til
view, three sailors were ordered
lse The boat and go ashore for Mi
sonary. Among those thus COMM
i'oned was M a full-bloode
solleaded and frolicksome Yankee
Up tol mischief nfof all sorts. WI
wore that the, M re,,, sshn,,la -