The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-02
FINANCIAL MATTERS

There Is little excitement In financial circles
| now, and everything seems to be subsiding with
| It's usnai quiet The banks at Alexandria, Va sus-
pehded Wednesday, in accordance with the wishes
| VI theeitizsns. run was made on the bank at
| ho"afusViiie, Albemarle county, Va, Monday,
"hicn was withstood, but on Tuesday it suspend
cd. The Philadelphia Ledger, OF Wednesday even
ing, speaking of the banks there, says:
The banks again yesterday further extended
1ie.r discounts, and We understand it Is the pre-.
& sens determination to continue this policy. As
such course does not favor the earliest resump-
,ion oi specie payments, it is, to say the least
h6eiy to create opposition in the Legislature
eaiied TO anJrd relief for liabilities incurred
ohat sls pnDnc want is good and reliable curren-
cy, ana II this has been lost by the indiscreet &C
tiou OF banks and of individuals they have right
70 ask relief from the Legislature of a pecunisry
character The great purport of assembling the
legislature, should be relief to the community in
ihe shape OF currency, and in doing this, it may
be Thought advisable to afford political relief to
tue banks, on condition that they will resume spe
cle payments at an early day. By an early day, We
mean as early as the first Of january, should the
ne" Aork tanks continue TO pay specie; and if
they should suspend then to resume Simultaneous
| ly with them.
| The idea of a long suspension shonld not 3ad
favor with tho publc, who have right to deinan nd
convenient ana reliable currency, and with the
view OF narrowing the time of suspension az luch
/ rs possible puolc opinion should hold the banks
strictly TO the llue OF their dutythe collecting of
aeo!s uue 10 them, and applying the proceeds to
tne payment OF what they owe. Lending money
when they confess inability to pay their existn ng
Indebtedness, is preposterous. They NAV collect
| oy misunderstanding time, and thus affording
| accommodation to debtors, and realizing the most
for themselves-but in their present discredited
condition to become money lenders places them in
a false condition before the Legislature and will
AWAKEN distrust In the community as to their pro-
fessions for an early resumption.
THE SUSPENSION IN WHEELING
The suspension Of the banks in Wheeling, Va,
created but a temporary excitement, of which the
lptellgencer, Of Tuesday, says:
The Merchants and Mechanics, North Western
| Virginia, Bank of Wheeling, and Manufacturers'
and Farmers Bank, ia accordance with a request
| expressed by meeting of citizens and in common
with banks East, yesterday morning suspended
| specie payment. Everything prepared for an
| extensive run, and when the banks opened con-
siderable rush was made for the counters UI To
ten O'Clock, Main street, in the vicinity of the
monied concerus was pretty we'll crowded. and in
stead of long faces feeling of satisfaction seemed
to prevail among most of those present. The banks
| continued to transact the usual business, and by
| twelve clock the excitement seemed TO have al
| together subsided, large number of laborers and
| women, holders Of hVes aud tens the banks,
beseged the institutions for the specie but when
| assured that the money good aud the bank ;
solvent they proceeded about their business with
asort oi wondering, doubling satisfaction. Those
VINO had no notes on the Wheeling banks or any
other bank, [snd they formed no mean portion
OF the crowd assemble y were particularly humor.
Gus. and affected 10 consider the whole matter as
an excellent Joke.
The Presidents of the banks among other reso.
lutiops, passed the following:
RssoIred That We adopt this discrimination with
a Iuli conviction OF our ability to resume, and
that the business of each Bank will be carefull y
conducted with u view to accomplish this end und
AT as early day as possible.
THB ST. LOUIS BANE3
The St Louis Democrat, Of Saturday evening
complains of an excessive tight money market
there, but speaking Of the only three banks in tina,
city, says:
our banks won't let down. They have been for
: uiylhg themselves against any crisis that might
come, ana even in the possibility of a run could
well withstand the demands of their depositors-
Ineir resources now consist principally of matur
Gu e4cAahSe' "hlcn would be a6uudautly large
lot any run that might take place would be l9ht
the majority of depositors having already with
= drawn their money. The statement of the three,
banks shows an increase of coin on hand of nearl,
quarter OF million. The Mechanics RAM
seems TO have fallen off in coin over $4,000 which
= We can hardly account for. The figures, however
. may nave been incorrectly published. Our banks
: then, Will not let down. The banks themselye
! know what their interests are, and won't lee An
: one OF their number suspend.
= Inc winchester firginian says the Banks ther
! suspended in consequence of the brokers in Bait
more demanding coin for large amount of note,
D instead Of receiving checks, heretofore, on tn
baltimore Banks. The Bank of berkeley, at Ma,
tinsburg, Va, has suspended. In the Batimor
City Council, Wednesday evening, a resolution al
pointing committee to investigate the prophet
OF the corporation issuing notes of less denomina
tion than s., was adopted by the first branch, bn
defeated in the second.
The Charlottesville Jeffersonian, speaking Of th,
suspension Of the Bank Of Monticello, says tina
since the date of its charter not 800 have beer
lost by its operations and that every existing liza
bility now due, is confidently believed to be per
| fact