Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1857-10-09

sterling exchange be SO bought under these ceum
stances. Specie must come in Cotton, the great
Southern export staple is very high The West burst
ing with produce for which Europe will afford mar
ket There is now, or must be- more gold and sill
yer in the country than there was before. The
specie of the Treasury is pouring out into the channels
of trade at the rate of million week. There is
tually far above an average amount of specie in the
vaults of the New York Banks and yet trade is paray
zed.
Last year and the year before the agrcuturalists of
our own State made fair wheat and other crops and got
good prices for them The cotton crop of the State for
the last year is put down at 1890 bales but we think
it ran little over that That must have brought near
er four millions than three millions of dollars. The pc
cuiar speciality of our own section, naval Stores etc.
have been high certainly but they certainly have
not been ruinously low still we find the country from
Maine to California and to Texas, in the peculiar
position The forces of the country to be like those
of team of horses pulling different ways, and producing
dead lock and halt 1t cannot be weakness that pro-
duces it. 1t is misdirected force.
One good thing may and will result. Retrenchment
WILL for time, be the order of the day. Schemes
of expense will be postponed abandoned. The COM
Portable house will not for the present give way to the
palace Possibly that love of bonnet may not be
deemed essential to salvation. short breathing-time
nsthis way will do much good And the mere he-fel-
lows who don't amount to much any how, will place
account upon the dollars and dimes squandered
upon " old Puryear, or prime Havanas" of Baltimore
manufacture. So, after while the country ought to
come out like green bay horse with its head up Like
giant refreshed by sleep.
The approaching monetary crisis in Europe must, of
course affect somewhat, but how far, cannot say
Not great DEAL think in far as, if the pres
be very severe, considerable amount of American
stocks held in Europe may be sent to this country for
sale, and thus bear heavily upon our money market.
The Suspension Question.
We really tired of nduging in long, and, fear
unnteresng discussions of unpleasant subject-the
financial difficulties known to exist throughout the
| try.
1t is said presume upon authority that our banks
await the current of events and will be guided by their
judgments in the they deem proper to pursue
under circumstances as they arise.
Now, we do not belong to those who always will
ling to cry down bank because it IS bank-nor on
the other hand to cry it up on that account Banks
simply corporations doing certain class of business
and owned by citizens who have become possessed of
the stock of such corporations investment of their
funds. The banks have certain privileges conferred and
certain obligations imposed upon them by law. Their
managers plain citizens like the rest of u.s. generally
selected with view to the benefits likely to result to the
institutions from their selection
This being the case, we do not mean to go into any
long short discussion of their course. We commen-
ced this article simply with the view of referring to the
question of suspension matter of policy-as affect
ing the trade of the placeits consequent prosperity
and that of its citizens and monied institutions.
There is thing to be looked at. Suppose Norfolk
and Charleston paying specie, while Wilmington is not,
how would Wilmington stand a candidate for trade
in which she would have to encounter the competition of
these cities? Poorly, fear. The amount of produce
from the West which we are anxious to secure, would
soon be very small.
We make these observations simply because wethink
they are practical in their character-not from any de-
sire to unriendy position towards our bank
ing institutions. 1t is a matter to be thought over and
looked at
Bss~The Poet says something about the melancholy
days. ETC., referring, thereby to the fall of the year.
Unfortunately there is more truth than poetry in the
remark this time. These days rather melancholy
but not for the falling leaf and fading flower. If We
might be INDUCED in ugubrious pun we would say
that the falling dues the worst part of it, and thu
hardest to get along with.
A truce to these things. We are tired of them W.
feel friend of ours did the other day. He came ant
{ took seat, and commenced running his eye pill
of exchanges, filled with the crisis and the pressure
/ and the suspension and he threw down the paper h
was endeavorng to peruse exclaiming d-n the pres
sure" The man was wrong in his language, but can
o did in the expression of his sentiments.
II But yesterday the first day of October-a pathet
ic occasion Astounding in noUing scenes. The house
hold gods were mounted drays-the Lares and Pen
ates were exposed to the public viewthe private TEN
per was irrated and of the crockery broken Th
5 world wags on, however, and the shines usual
L. Our youthful friends have also made the discover
that the first of October has arrived and the dieren
schools, or perhaps, we ought to say institutions
s. learning" have opened for the season. We pass MI
f. Megnneys every day, and yesterday we found Youn
$ America in force Boyhood is institutional bless
81 ng-an unspent fortune and like to see boys eno
v themselves We think it is their bounden duty to
e it while they're young" But we would venture to sue
gest that trees just planted are not quite ready to
u climbed up 1t may probably be the death of them-
- Our young friends have far more fun climbin
re in few years, when the trees get stronger
But it is great thing to see somebody jolly in d.
spite of school tasks and recitatons. Long may til
boys be boys, and the keepers of boysh hearts With
ct their bosoms free from "karking cares which come
b. us ALL sooner or later, unsought and unsolicited