Sugar planter. [volume] (West Baton Rouge [i.e. Port Allen, West Baton Rouge Parish, La.]) 1856-1925, 1857-12-26

l4o the skHestA& -, sac aour market thu
This llsyts mixbtabe shaped accordingly, bu
wh4e tonishiQe to@relate, was entirely OBJ
Flivieh Of asdseliae, until reminded eli b!
his ssstouersl W however, e1onerate II,
B.5tenth is sseinsation but It appears e
trssssly diacsitsto @convice some people j
faeb Aough qdsmoastrated beyond the cavi
Of ! deebks y
II regard e ~ conclusion Of our cotesn
porary's article, speS ethics, We beg leave t
offer gu. reasoas for a n intimation that ap
peors 80 monstrous in its eyes. Did not tn
panic, from which w are now suffering, arts,
10 New Orleans from the bsnka themselves
under the Observation-Disclosures IN. 4Bianl
owes asaote in Of the chartered banks o
that city. His deposits are in the vaults o
one Of the. FREE tbanks-to pay the note, h
checks upon his bank and receives its bill,
in payment Of the check-he offers them a,
the counter Of the chartered bank in payment
Of his note, and is met with the cool reply
s. we don't receive those bills as moneyW-
Thus refused, with no little chagrin and as
constituent, he quietly folds up the bills,
and returns TO his own, tie free bank, and
laying the notes upon the counter, says: "
am informed on Royal street that these bills
are not money,-l want gold and sauer !" It
wss immediately counted out to- him, and
returning to the chartered hank, took up his
note. The news that the notes of this bank
had been refused, spread like wildfre through
the city and the panic was put upon its legs.
The friends Of the free bank hearing o fthis sin
gular freak, became alarmed, and q run was
was made upon all the banks. Royal street
was soon crowded to oyerfowing with anx-
ious bill holders and depositors for the amount
Of their respective clcims, What wal the
result-need we ask our cotemporary? He
have witnessed thes excitement that
followed and the rapid decline Of bushes in
Ill its branches. a'si
This was the origin of the great panic in
New Orleans, and for which there was not the
cause, but it came nevertheless, and
nobly has it performed its work. How many
many millions of dollars are jeoporded from
, want of confidence consequent upon this
lilly panic, when. in reality there is no cause
Or fear. 4z2@d ORR fu tTad 5HaeF sts
A late weekly statement Of the New Or
banks shows that they have in their
FAULTS, specie to the amount of $1,000, 600
he quantity Of specie being greater than it
'as been for two Or thee years past, yet our
says Notwithstanding these
'bundant facilities for ~discoupting, they the
Neutrality-suspicious. wisely-that caution
5 the mother Of safety. and in these uncer-
times, they are bound to look forward to
contingenciesn! In the name oil
omuon sense what contingencies do the
anks expect to arise Are the merchants
nd factors,of New Orleans less reliable to-
~, and their resources more involved in |
and uncertainty, than they were one
ear ago, that these banks refuse to furnish
for the resumption Of business -t
he banks must indeed be frightened .saI
hadow, or they have sone sinister motive 10
lew, when they refuse accommodations to
srties rs reliable now as they have ever
cen. We may be rather harsh in our views
pon the action Of the banks, but We think
aey deserve it. ~.
With a knowledge that the banks possess
nd refuse to use the means in Their hand, to
aspire confidence in all departments Of COM
lerce, we did irecommedd-and adhere to it
man shnold look after his own inter.
tits not, We are aware, ID accordance
18th the exercise of the :: . 81 eetthhacss.n
ut we must act, under the circumstance q.
pom the maxim of theJesaits the end ijj,usti-
. the means, 2 antiIthe moneyed institutions,
b brought to : proper sense Of their
70 the mercantile a. we'll a the %plant-I
g community, Z. .tf.5 III
We are glad that the President il de-
.rmined 70 enforce the laws 10 Utah.
he crowds Of English, Sweds, Danes,
nd other northern Europeans thst swell
Mormon ranks, I not citizens Of
. United States. They did not come
America With the intention Of becom-
g c,s'aens. They had no political ideas
2 the matter then; they have nome
~. Brigham Young holds.and wislds
g political power, which the combt
Of their immoralities places in hia
like a unit. Thus U,ah is actually
foreign colony in the hands Of native /,
aitors. Advocate. ~
~ Ws thought Democracy . welded
SnRaarpnn- A.