The national era. [volume] (Washington [D.C.]) 1847-1860, 1857-09-03

They appear we'll disposed, and are an interest.
ing set of people,"
/" AS close my letter, the good ship Mary
Caroline Stevens is signalIed She arrived safe
ly at Cape Mount on the Sd of July."-BaHi-
more Patriot, Aug. %.
The Money Panic at New York
The N. Y. Courier considers the late failures of
parties who had adventured too deeply in rail-
ROAD securities, as affecting but few of the sub
stantial business interests of the city. These
failures are wholly confined to those who have
gone out of the legitimate course of bankers.
But the effect is small. Wall street is not
New York. The Courier thus continues:
We would revert to the great, the important,
the ailpowerfnl interests of commerce, under
such money striugency as prevails at the
moment, and at the moment only. We find
our manufacturers closely engaged in filling or
executing orders from all parts of the country
at large. Every department of internal trade
is active, and remuneratice also. The country
10 aEundantly prosperous, from the Atlantic to
the Pacific. Labor is in demand everywhere,
fror- Maine to California; and this labor is we'll
repald. The planter at the South and the plant
es et the West is reaping rich harvest; and
II -" all street were blotted out of existence to-
day. the permanent interests of the country
Unfortunately, the stringency felt in money
matters is brought about in part by the wild
vsgaries of certain journals, backed BY in
terested parties, whose only aim of late has
been to destroy confidence, when confidence
only wa essential to sustain aud maintain i'm
portant public interests. AS to the ability of
the MERCANTILE classes to sustain their credit, it
il conceded that they have never been stronger
Faymehts from the West and South have been
punctual this season, and those regions are
fast becoming creditors instead of debtors to the
Ccnmercal Metropolis.
On the whole, there are no grounds for fear,
eitaer financially or commercially. A few weak
hoases will probably suspend during the week
or-month, but the city at large is abundantly
trong and rich"
: Race between War Steamers.
We have been permitted to see an extract of
: ;etter received at the Navy Department, dated
August ID, from which it appears that, on re-
cunning to England, trial of speed took place
between her Britannia Msjestys ship the Aga.
nemncn and the United States steam frigates
Niagara and Susquehanna. The Niagara soon
evincet her superior speed. This circumstance
70 very gratifying, as the Agamemnon is said
10 be tie crack vessel of the English navy, east
y NAL ing eleven or twelve knots per hour
The circumstances attending the race are de-
scribed in the letter above mentioned, as fol.
lows:,f
"Tbjs morning, the 18Th, at nine o'clock,
the S1squehanns was about two miles ahead
we were just abeam of the Agamemnon. Capt
Sands signalised, Pm going to Plymouth =
as much as to say, Cant wait for such slow
coaches We concluded to 60 to Plymouth
also. Each ships smoke-pipe at once told the
Tale of hard iring-up. The sea was smooth,
and the wind light.
cat five o'clock in the afternoon, the posi-
Stions of the vessels were nearly as follows !:
The Agamemnon was far astern, we could just
see her smoke; the Susquehanna was about
seven or eight miles astern."
/ AS Capt. Hudson, however, wished to keep
company with the Agamemnon, the Niagara
stepped, and waited for hert to come up During
the race, the Nisgara's speed was IL knots
.StQtes.