New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1843-02-13
Currency Panic in Mobile.
OUiItoPVIIPcIIcU OF Il Hc n Uu"t'
MOBILE, Ala. Feb. S, la4)-ll .

MOBILE, Ala Feb. 5, la49-ll A. NJ.
Yesterday was with us day Of greater excite
ment than has been Witnessed in our city in long
while. Exchange was sold in the morning at 81
per cent. for 80 days, and in less than ono hour
brought 80 per cent. AS there only small
amount drawing and the drawing ceased at an ear
" hour the demand for Exchange being large,
offers were made during the day as high as 30 per
cent. and specie rose to DO per cent. Before night
perfect panic prevailed. Many factors would
not sell for currency and those that did advanced
in their prices. An agreement not to sell except for
spccie funds or their equivalent was circulated and
numerously signed. Every thing became unsettled,
and when evening came it was impossible to know
how we really stood. This morning drawers are
Offering 60 day bills on New-York and Boston at
DO per cent; Sterling at 45 per cent; Gold COM
mands As pei cent. Every Thing isyei in an IN
settled state Many, in fact most of the rner-
chants, continue to receive Currency. Some how
ever refuse and some factors decline selling their
Cotton hand except for specie funds A meeting
OF merchants is to be held this evening for the pur
pose of adopting some uniform plan OF action, aud
wa hone that YOU will soon be advised of our hav-
ing reached a specie basis What the result will
be It's hard TO tell, as many very unwisely still
cling to our irredeemabe currency.
HENRY CLAY arrived in town yesterday at ] l
A. M. and was landed at the wharf in front Of
Hitchcock Press, where he was addressed by ex-
Governor GAYLE, to which he replied in his usual
happy manaer. The crowd was so great that very
few were able to hear him speak. Immediately Of
ter his reception, procession was formed and he
was escorted by the military and citizens TO the
sidence of Mr.. Lcdyard. The streets through
which be passed were thronged and more lively
scene was never witnessed here. In the evening,
Mr. Clay attended the Theatre, and at P. Nj. he
visited the Military Ball, given in honor of his
visit, where he remained two hours, and was in
troduced TO large portion Of the ladies and gen.
ternen who attended the Ball. He looks exceed
ingly well, and was il fine spirits The ladies were
delighted with their interview with him. General
GAINES was also present at the Bali. Mr.. Clay
will receive calls to-day at the Mansion House and
tomorrow at the Waverly, and on Monday next
will return TO New-Orleaas. The Creole broke
he, shaft soon after leaving Ponchartrain, and be-
ing unable to arrive on Wednesday morning, lay at
Psscagouh several hours go as to arrive on Thurs
day morning While at Pascagoula, and during
the whole passage, Mr.. Clay kept The passengers,
over fifty in number, in good spirits by his free and
social intercourse with them. During the even
ing, while at the Ball. his wit and vivseity kept up
laughter and lively spirits throughout the roon-
The Ball was very fully attended, and every thing
passed of pleasantly.
am unable to give any fixed rates for Cotton.
Prices are very unse,tled-exuenes may be quoted
for currency at 81 and SIC. Freights to Liver
psol Of penny-ts New-York cent per h.