Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-10-17

""on "ohaIst making win the previous week an
dctudt curaiment bard on to six millions since the
pgomised erpdssion of three millions The result,
though alleged TO have been necessary by the rapid
drawing down Of the bank deposits adds greatly to
the encouragement Of the merchants, among whom
further large failures talked Of as Likely TO fol.
low the list presented this morning
The amount Of United States stock redeemed at
the Treasury Department yesterday was $3.50, 5Gl,
Of which large amount for New York The
whole amount thus far redeemed is about So 900 600
and there remains available under the law only about
$5o0,000 more"
The distress in New York, Philadelphia and else
where North, owing to the throwing out of employ.
ment of the laborng classes, is represented as al
ready great If the present state of things should
continue, who can estimate the suffering which must
befal these people during the long hard winter
months? Not less than twelve thousand persons in
New York City alone have been thrown out of EN-.
poyment. Those engaged in the manufacture and
sale Of Injuries suffering most. Four thousand
cigar makers, for example, have been suddenly de.
prived of work. We observe also that many of the
iron works have either suspended operations or dis.
charged portion of their hands.
The Wilmington Journal of Wednesday saws:
Two more of the Banks of Charleston, S. c. sus..
pended ON the 18th inst-the "South Western Rail
A considerable run the remaining unsuspendcd
Banks the consequence The Bank of Charleston
kept its door open until p. NJ, three hours later
in the day than usual, in order to accommodate The
bill-hodcrs. The total amount paid out by all the
unsupported banks, is stated at $4,000 The fol.
lowing banks had not suspended at latest dates:
The Bank OF Charleston, the State Bank Planters
and Mechanics Bank, Union Bank, Farmers and
Exchange Bank, and the Peoples Bank all located
in Charleston.
We learn that tclegraphic despatch was re.
ceivcd here this morning, iiom New York, stating
that twenty 1.-TWO Of the Banks Of that City suspended
Yesterday. BY the Constitution of New York. they
20 into liquidation forthwith,
We presume that somc definite understanding will
be had between the Banks in this place to-day. We
know there is strong feeling amongst portion of
the Bank officers and merchants in favor of suspcn
sion. Others, we are aware have all along been op.
posed to it. We are however, of the opinion, that
general suspension will be the inevitable result Ii
may not take place to day or Tomorrow u the
ports from New York be confirmed there appears 10
be no other alternative, however much opposed To it
the people at large may be.
While on this subject, we had as well state that
seven thousand dollars OF tho Bank of Wilmington"
notes, sent down here by the Bank of Fayetteville
were protested yesterday.
We have implicit confidence in all our banks, and
persons owing Us cannot do us a greater favor than
by sending Us the amount of their Indebtedness
We will give receipts with no little pleasure for bills
on any of them. We will not hesitate to take even
South Carolina wildcat bills"
The Charleston Mercury Of the 18th says:
"SrSPENTIoN or THE BANK OF THE SrATE-Noce
was given on Saturday, by the Directors of this
institution, that during the existing pressure its
notes would not be redeemed in coin. However
much may regret the necessity of this proceed
ing, it has no, taken us by surprise. Causes
trely foreign TO the operations Of our Banks, have
worked with a suddenncss that scarcely left any
opportunity for successfully meeting them but the
immediate reasons for the suspension are fully aud
satisfactorily stated in the article below which cvi.
IDENTITY comes from one familiar with the subject.
The sovency of the Bank is, of course, unquesiion.
able unless it be maintained that the State itself is
nsovcnt But the Bank itself has been too often
and too yjealousy scrutinizcd by Legislative Com.
mittees to allow n doubt that its assets amply
sufficient TO meet all its liabilities
We find the following advertisement in the Ncr-
curry of the same date:
CHARLESTON BANKS-All Charleston Bank bills
will be taken Mt a premium of fire per cent, at my
Dry Goods establishment, for all purchases Of five
dollars and upwards; and the Goods will be sold MS
cheap as they can be had at any other House in
the city WILLIAM ROCHESTER,
3O4 King street.