New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-10-14

m
Purchase Of Hermitage. Ao""
To..l direct deb. ........:......... stig as g
Indorsed and loaned ~ Railroads, ~. s6'ec"~
Total sl2ss,s:6 es
The Stocks owned by the State pay an interest OF
y cent on the estimated value.
The Hartford Times states that an application mas
been made for Injunction upon the suspended banks
of that city, upon which there was to be hearing
yesterday afternoon.
We are informed on good authority that statement
in letter from Philadelphia, published in The TRIB-
Use of Saturday, to the effect that Mr. wainwright
the Precedent Of the Commercial Bank Of Pennsylva-
MA had been arrested on charge of perjury is incor
rect. No arrest has taken place, though one Is
threatened by parties who have long waged bitter war
on the institution The question is one grown out oil
transaction which the Attorney General OF the state
has declined to take action against and which, Is we
are assured grew out Of msspprehen'ion as to the
receipt Of uncuneDt funds on deposit which, up to
recent decision of the Supreme Court, was habtuai
with the banks of Philadelphia.
Nr. Henry, the Bank Commissioner OF Illinois Tor
the northern half of the State, has addressed to The
Chicago Journal the following letter under date OF the
9th instant:
AT this season Of panic and dstIust, when every man
is afraid to trust his neighbor, and when he draws
bis de- posts from his banker dare not kesp his money
after he has drawn it. il is proper time for the people
of Illinois to inquire into the affairs OF their own banks
and 10 inform themselves as to their condition.
The Illinois banks have issued and have outstsnd.
ing a circulation Of about five millions and half Of
dollars that circulation, they have deposit
ed with the Auditor of the State, four millions nine
hundred thousand Of six per cent Missouri bonds ard
two millions ard half OF interestpsylog bonds OF
other States. The law also makes the stockholders
individually liable to the amount Of then stocks Be-
side that they have the notes and securities for cur
rency loened out.
look upon the banks Of Illinois as among the safest
in the United States. The difficulty our banks have
hbored under, more than any other. has been from
the gradual depreciation of Missouri bonds, produced
from several cAuses First the large amount i5suei,
and the fact thet ten millions more may be issued
fear that in case OF the suspension Of our
banks large amount may be forced upon the market
at this time and thirdlythe pressure in the money
NAH ct that has borne down all stocks.
Iu contequence Of the depreciation OF the missouri
bonds the Bail Commissioners OF Illinois have beer
compe led al different times TO call upon the backs
To put W further securities, or return their clfcuatol
call was made, payable in June, which was cheer
fully responded 10. Another cal was made, payable
the 10th ofthis month; this has already been codi-
Piled with by many, and will probably be by most
lot ell the Others. The first call was mace baeed
upon Missouri bonds, at 50 cent?, or IL per cent ds-
c0uIt. .
lido not believe further call upon bank, 10 furnish
more securities will be necessary for the reason that
whatever may be the result of the pressure state
Stocks must advarce particularly those OF Mssouri
the subject and determined to sustain the credltcf
their Siete ard have no bonds issued. The
Chamber of Commerce of 81. Louis have a'retdy
passed resolution nstuc.lng the Legislature 10 lha
effect and in conversation with many leading men OF
the State have learned that s their determination
TO have the next Legislature which meets thia month,
pass revenue law providing sinking fund for the
payment Of the interest and redeem their bonds and
prevent as far as possible, further issue.
This will restore their credit and make them equal
to the stocks Of other States Capitalists have with
drawn their capital from banks and railroad stocks.
They must invest somewhere State stocks will
be sought for as the seiest Investments and will and
must advance and If they rise bat ten per cent our
securities will pay, dollar for dollar, for our currency
As il is putting Missouri bonds at the lowest figure,
% cents and other stocks at present prices, we can
redeem at 90 cents TO the dollar, without looking TO
the individual liability Of the stockholders or other
sources.
The Stock Security Bark at Dsnville, which wen.
into LIQUIDATION is now paying at the Auditors Office
in gold Ssl cents. The Beeville Bank, the poorest
secured bank in the State, will pay, with Missouri
stocks at Ga cents ~ cents to the dollar and its stock
holders, who among the wealthest men IN that
county are responsible for the balance.
know il is objected that our banks cannot redeem
in gcld Most OF them have done 60 in the ordinary
course Of business. Those that are located in the
northern part of the State have redeemed, TIL within
few weeks their entire circulation every sixty or
ninety days. Ii Is not expected that when gold is
worth 10 per cent premium, they continue to fur
nish goli in that way Perhaps il is better they should
gold which would take its way TO New.York aud our
currency would be entirely withdra W. and yet the
price OF exchange end demand for god only increased
There is but one remedy-that is to send our grain
forward and draw sgainst that. We better afford
to lose grain than TO pay such high rates .or
charge, which will continue 20 weaken aud sti
no. the evil. They must have our produce East
When navigation closes prices will probably advance
in New York, and we afford to pay railroad trans
portation rather than such exorbitant prices for
change.
There Is row no export Of gold to Europe. Gold
will soon be returned 70 New York, and the demand
for gold East viii not be 30 great.
Our crops are abuDdart-we have more than suf
fcielt TO discharge our debts, and the demand Cor
them will come sooner or later. The same energy
that has accomplished 50 much WILL il only exercised
exticate us from our difficulties NJ. ). HESRr.
BANKERS MOI At PADrcAH.-A messenger OF the
barking house Of Kidney, Espy & Co. OF this city,
ust returned from trip into Western Kentucky pro-
posing to exchange carPetbag OF rags ior one 2.
had pile OF notes Of the Commercial Bank OF Men,
lucky, located at Psducah, asd was approaching the
banking house to demand the specie, when be was
beset by crowd Of boistsrors fellows. wno ntsted
that be should not present the notes. The President
and Cashier Of the Bank, however, behaved like
genleue en-, telling the mobiles that they were
interfering with their the berkersJ business
as wen as that of the messenger, and insisted on
counting down the gold for the returned notes.
The messenger then made his way TO the
house Of the Paducsh Branch Of the Bank of Louis
vile. The officers OF the concern were sitting on the
steps of the building and the mob followed the
senger, and blocked his passage into the house. He
made out however TO inquire Of the President of the
institution whether be could have specie for his notes.
and was answered NO" "WiIl you give me New
YOI. Exchange n y NO" "wl you give me Ohio
the id Ohio Abolifcnfatp remark which hurt the
fselngs Of the messenger very much, a., II there IL
soy'h1G Net h hate, Il d ~ As:Et9niss lie We