The south-western. [volume] (Shreveport, La.) 1852-1870, 1855-11-14
There appears TO be something Of a panic i

There appears 10 be something Of a panic
the New York and Philadelphia money marke
: owing to an apprehension that the bank /
: England and that of France viii be forced
suspend specie payments. The Charleston Me-
curry states that the heavy drains upon the banl
of England and France had the effect to shak
public confidence in the national securities, an
: are likely to interpose difficulties in the way {
contracting new loans. Thus far they may al
feet indirectly the operations of the war. The
will also tend to force American securities up
on the market at reduced rates. But the wors
result is a general unsettling of confdence-a
uneasy and foreboding feeling in the minds Q
men, that lacks but single impulse to CONVEX
it into panic. Such feeling seemed, at th
last accounts, on the eve of breaking forth il
France. A deficiency to the value Of at leas
fifty millions of dollars is admitted in the year,
product of breadstuffs. This deficiency is at
tendant upon an exceedingly stringent money
market, and thus the upper and neither mill
stones threatened TO grind the French people
Symptoms of desperation had begun to show
themselyes-those terrible popular cries and
| throes which the strongest despotism is mpo-
tent to repress; and now we have the assurance
that Louis Napoleon has determined, cost what
it may, that the people shall have cheap bread,
1t is we doubt not, wise determination; but
it simply amounts to this: that the nation shall
be taxed in order that the people may be fed
twill add another and heavy item to the &C
emulation of debt that has attended the east
ern war. The laborers Of France are cultiva-
ting the harvest of death in the Crimea. indie
pendent, then, OF any question of peace, it is
certain tharthe prices of breadstuffs and pro-
visions will be sustained at high point through
out this season, and equally certain that the
adverse action of the banks of England and
France will tend to depress all other articles of
commerce, except such as directly supply the
necessities of war. This is the state of tbinos
on which we are to make our calculations.-
1t must have great bearing on the prices of
cotton. --
Our consuls or commercial agents. saws the
Baltimore Patriot, seem to be infected with
mania for making themselves ridiculous. But
| few days since the announcement was made
hat the consul at Matanzas, Cuba, had aban-
loned bis post, because, upon refusing to obey
law of the island, his protests were disregard
d and the law executed in spite of bis inter-
erence. The consul at Panama also hauled
own his flag and demanded the presence of
n American man-of-war, upon pretence that
ne United States government had been insult
d, when the most reliable statement ofthe case :
trongly indicates that he himself received
cry mild rebuke foran improper course of pro- a
edure. The state department has investea- f
ID both OF these affairs, and Mr.. Marcy was =
that in both cases the consuls were '
the wrong, and ordered them to return to =
elr STATIONS and raise their flags. It would B
ave been much better if the president had dis '
Used both gentlemen, and put in their places P
ose whom he knew to possess sufficient com
on sense to settle these small matters of Off h
al routine and duty without endeavoring to
axe every petty occasion a cause of national \,
mplaint or quarrel. We are for upholding the L.
'nor OF our country and its flag on all occa- n
ons, but are disposed to hear both sides be- to
re getting into passion when we hear of an m
dignity offered to some obscure consul, who d
possessed of more self-mportance than com u
on sense or education W
The correspondent of the Baltimore Sun. p
'ltlng from Washington, 22d ut., says: The =;
port of the secretary of the treasury on the ~
ndItion of the banks throughout the Union, a. a.,
more favorable to the credit and safety of W ".
ose institutions than was anticipated year b.
two ago. The great expansion of the paper -
rrency IN consequence of the influx of gold -
d caused some alarm, and the drain of our ~ ~.
Id to pay for large lmportations was, as many ~,
ought, likely to lead to collapse of the banks ~,
It from this calamity we have escaped, and ~ ~
banks generally are as sound as at any for ~ %,
- ' "'',l' .ney 5e' greatly ASSIST IN the sla
The reported bank capitals now about three VI
huicu ei1a tHlltt -tuItc ulllllOHS, WDlIe their
.ce amounts to ffty-three millions, and their Ru
cuation to one hundred and eighty-six mil me
rs. In some of the states few banks fell ma
0 such dscredit that their notes were worth me
S, but generally the bank paper has served pri
purpose of a circulating medium 1t would car
well if the secretary, in his next report ALI
uld give us a statement of the amount of the fla.
$ to the community through broken bank car
Der. The sum will be found very considera- les
but this is an evil that is inseparabe from res
system, which we must continue to endure lea
n should it be attended with occasional in tax
veniences. -"
A New York paper expresses the apprehen- viii
! that the pressure for gold will become so ant
at in England that suspension of specie MIA
ments will follow, as in the war growing out off
the French revolution Should this occur ma
effect will not be to increase, sbut much to Y
inish, the drain of gold from this country me-
9ortations are swelling up to the maximum for
he flush times of 1853, in consequence of Ii
having become again able to pay for them. VIII
Try thing wore an appearance Of remarkable tho
snerity THE revenue for the nayt vaar will VII