Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-10-22
.SEW YORK and BOSTON B.7N'ks


Lhr TIE T. whose ia has been cut oil ,hsy an. t,,rr
10 coax or 10 coerce the other foxes The like Bn
10 heIr honor be il said, the Banks of New York and
! Boston still stnnd fast.
In New York, the struggle 10 induce Them 10 sus,end
specie payments has been violent; but since the LIVER
poo" has sailed, ION Saturday, without CARRYING ci
much Of the specie is hoped that the crisis is over
The Banks OF that city have attempted TO prevent the
export of specie, by drawing Bills on london TIE N
i"k Herald OF Thursday stated, that 1.-The great dcsi
drraiuln OF supplying The demand for some means OF
remittance aornad which shall obviae the necessity 81
shipping specie is Obtained There will no doubt be
more balls than will find buyers. and The will be far
reduced as TO prevent in all probability nch specie IRON
gong The departure Of the verpoo has rightly been
considered as the trying moment for buas; they hav
accordingly had many plans foot 10 meet tie emegen
cy; 6ul none was liked upon until 10 day. when Gov Sc
ward, Spencer, Secretary Of State and Willis Hall
Attorney General, appeared in Wall street. TO negotiate
200 Of the 81 600 eco loan authorized be made
by the law Of 1888 for The speedy enlargement OF
the Erie Canal The loans bears per cent interest, and
The money will be required 10 BE- paid follows Seven
per cent the 10Th Of November next seven per cent
on The ob of December next; twelve per CEN, on The
isl January nex len per cent The 18th January next
len per cent The Isl February nex ten per cent on
the 18th February next and the residue may remain in
dfposie with any safety fund banks taking any part OF
the oan proportion The taken until The Ist
day OF July, 1910.
Merchants Bank N Am j. * Banking Co. and others
which resulted in purchase of the loan for remittance
10 England By the Liverpool The banks draw against
il al 8 | 3 60 days, and per cent 90 days.
The arrangement obvaled The necessity Of occeptins
an offer made by The agent ofthe Barings in this city
TO permit The hanks 10 draw them 10 The extent of
81 O0O0O0 In addition 10 this supply. about EGO 900
are offered by private houses, and some British Govern
mant Bills There is nso reasonable of flour
bills offering cotton bill are in the market and the
quantity increasing 10 also stated that The cashiers
OF The Banks of Upper Canada and the Gore Bank
now here for supply OF SPECIE in order TO enable those
institutions TO resume
1t was also reported Thursday, that S3n0 900 in spe
Gle had been received in N. York from Philadelphia aud
Baltimore, in the regular of trade.-Much was
also said IN New York Of the Collector having loaned
10 the American Trust and Bank Company enable IL
TO meet the draitspf The other Banks for specie,
rousiy estimated Al from 40 10 Sl5u 600 From Whatever
causes may have proceeded great confidence was felt
in New York TINT The Banks would continue TO pay spp
Gle. The n. Express OF Saturday States that 1.-The
storm is severe 10 day, that all outdoor business is
suspended The sailing Of the Livarpool steamer will
not be delayed The Impression is, that much less
amount of specie will go il her than was anticipated =
Bills on London are selling at 100 100 l2, and an
abundant supply is IN the market Exchange on Phila
deIpha This morning, is l5 and on Providence 10 PR
cent Money is apparently scarce rs it be. her
chants compelled 10 sell their Southern Exchanges
al most runous sacrifices to meet their engagements
The Y. Evening Post of Saturday Evening states
that n he United States Bank huc,unted from &c TO
73 .; and finally closed ut. M matertsl variation
in Delaware, Harlem, North American Trust. Mocha
mes Banking Association iell per cent Bank OF Com
mercr. Notwithstanding The question of suspension
is settled. stocks may gradually be- quoled firm at yeser
days rates Sale Of sight drafts Philadelphia
made as low 60 q. and more offered terms
The sound banks in Philade pha will be compelled
10 contrac, credits to check the downward Of
their irredeemabe rags Specie is dull Of sale. Mex
can dnars offered as low per cent premium
] , best bid
How much specie by the Liverpool steamer
is mol ascerlaned but less than is usually taken by The
steamship Some went cut by The Liverpool packet
Wednesday, and The Havre packe about 500 900
the Of the week, The Chelsea Bank aud col
Growers Bank both established under the late General
Banking Law stopped payment entirely two three
days but their combined circulation does exceed
$1,000 for which stocks TO three times The amount
pledged with the Comptroller Of The State. On the
whole the feeling in New York, Of the STABILITY Of the
Baaks is strong though The merchants have been much
pressed for funds meet their engagements. The New
York Dispatch Of Saturday declares, tina, Neither the
Banks nor The community waver, and whatever may be
said 10 the contrary y those interested, the BANKS OF
New York WILL NOT SUSPEND.
Ii is important in every point Of view, both for the
Government and the People, that some OF the Banks
shond stand astas rally point 10 bring others back,
that resume-and alec as snme standard. 20 ea The
rate of exchanges and the stability Of other Institutions
In Boston there been much mOnremsnt; but II has
resulted in a determination 10 goon On Tuesday Even
ing meeting of merchants, &c. was held al the tx.
change Coffee House and committee nppoined to
confer with The Banks-On "Wednesday Evening, the |,
adjourned meeting wos held at the same place The
Committee reported answers from The Banks, which
" declared that while they had each done oil in their
powe, relieve The community, they would still Perse
we're in discountng the utmost extent OF their ability
The City Bank offered, if others wond CO operaie 10
discount next Thursday. al least, = per cent OF lis
capal-eay S25 600. and The fremont also proposed to
discount the whole OF lis current rece pts this week =
MIR Brsdlee remarked iha, this rale, the fremont
wnud probably perse 500 600, and he added thai,
TUESDAY last the Boston NIX discounted about S3O,pOO
The Globe discounted S50GOO on Monday last =
81, ,h,,itf VI nc
ns expeden for Banks I" suspend specie payments
for bills nf FIVE dollars and upwards On motion OF Mr.
Thomas Gurus. the resolutions were laid on The table,
for The purpose Of considering substitute which was
then offered by Mr. Badlee IL 10 the effect, that
on Thursday last at 10 o'clock, meeting of dele
a,es from all The City Banks be held, TO take into con
slteraton The present Crisis and that II be recommends
ed them 10 discount in course OF The week, I'VE per
cent Of their capital. Mr. Peter r. Homer, made some
remarks favor Of this resolution and il was u ler sus
tanned by MI Nathan Appleton, and opposed by Hessrs
Degrand and Walker he resolution ~ns hnaily hhnpt
ed AFTER very little discussion and The meeting adjourned
The Boston Post lejoces at "he glorious manner IN
which The contest has resulted (by vote of Mnn
t,ro 10 one)-nnd adds that ale who recommends
ss ne nsion shonId BE- looked upon bankrupt who
wishes 10 involve the whole public in the calamity his
own ndrscreon has brought upon himself"
The Portsmouth (N. II Journal declares, that
aSh,ud every other Bank in The country be compelled
to suspend specie payment, Banks in Portsmouth
would not be affected they have the means Of re
deernng every dollar Of their issue and would BE- On
der necessity I" suspend -Ihe Ne"buryport (alass
Herald speaks with great confidence of all the New
England Banks.
Three of the Pil,sbu'g pa Banks, The Merchants
and Manufacturers. the Exchange and The Office United
States Bank resolved on Monday morning to suspend
specie payments. The Bank of Pnsburg resolved on
the other hand 10 suspend, but TO continue The re-
demptlon of her notes in gold and silver
The York Chambersburg. and Gettysburg Banks at
once discontinued The redemption of their notes in sPe
cie on hearing Of the adoption of the suspension
sure in Phllade phia md Baltimore he Star and Ban
npr however states that The Gettysburg Bank sil con.
nu ID TO pay specie for its hve COLLAR
N.w Jersey Banks express full reliance their abb
Iirv Ia continue The Rhode Island Banks have sus-
pendpd-rhe New Haven Herald says, that "Ihe banks
in this city the most sound ana substantial sna.
SETS the example Our intimate connection with thc
great Emporium would doubt render il expe"'s"' 10