The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-09
FINANCIAL AFFAIRS.

The Uowarasville and scottsvi,Ie Banks In Abe
marie county have not Suspended specie payments.
The present bank crisis 10 leading to general
discussion OF the banking system and the current
il running for q more enlarged specie basic, for
further Limitation of discounts and against smas.
bills, under $40 or so. Tho New York oouric'
has this view AL,
lars for one OF specie IT. No bills under nse ao
lars for the present. and none under s@o
ter January, 1859. III. LoaEs on nv "
limited to Ave per cent. OF capital. ~ IA ,oh.
its TO be reiinquished by our impos'e,s s"s n
hers 10 a mouths 10 be substituted for 70 y
months " No loans to be granted 70 rsi,roas
eemnanies except in extreme cases. NO rM,roaa
eonnary "a n be we'll managed whose expenditures
s,sa.J th.ir reccipts vi. Abolish the usury laws.
.na ,et money be free between the borrower and
snder.
In financial affairs there 10 but little change to-
day Several failures are reported including Bulk
lev 4 Co, importers; Blake & Brown. silk dealers;
NJ J. King fur house; and Meliss Ayres, lace and
general British goods importers.
The Bank Of Addison, In the State of New York,
IL throwuiout here to-day. The money market GO.
nerslly closes with less excitement, and with a
more steady feeling.
At the second beard to-day stocks closed weak
The payments at the sub-treasury amounted to
$200,0oe, and the receipts to $26o,o00, including
$2Oo.00o from the Philadelphia mint.
There WAS meeting of the merchants this af-
ternoon to consider upon the crisis, at which sew
eral bank officers were present. Dir. Tileston, the
president Of the Phsnix Bank, declared that in his
opinion the true remedy for the pressure was q
prompt aud liberal enlargement Of discounts by
the banks. and that this the conviction of the
merchants also Resolutions were adopted re-
commencing the banks to increase their loans to
seven millions Of dollars, and from that to ten
millions at an early day. committee was ap-
pointed TO meet the representatives of the banks,
and hopes are entertained of favorable result
The city banks favor the policy Of receiving and
paying the notes of the country banks which are
secured by State stocks.
dispatch from st. Louis dated 9th. says:
meeting of the merchants of this city was held
at the Exchange yesterday to consider the currency
question. Mr.. Henry, the bank commissioner Of
Illinois, made statement of the condition Of the
banks In that State, which was generally regarded
as satisfactory.
At the meeting of merchants to-day a resolution
to receive and pay out the bank currency of the
state at par was adopted by an overwhelming vote.
committee was appointed to report on the sub
Ject. committee was convened IN the afternoon,
but adjourned without coming to any definite con-
clusion. The vote on receiving currency at par was
a tie. Previous to the adjournment, resolution
was passed to petition the Legislature to issue no
more bonds at present, and to create sinking fund
for the payment of the interest those already is
sued. 81 the other meeting at the Exchange. held
to-day, the announcement of the suspension of Lu-
cas- Co created no excitement. The assets of the
firm are ten times greater than their liabilities
A run on tho Bank of Missouri and on tho Boat
mems and Gerulan Savings Institution has been
made. but there is no evidence of their suspending
yet. The regular banks continue in strong con-
dition.
The following is an extract from the proceedings
of the Pennsylvania Legislature, Wednesday:
In the House. n bill was presented authorizing a
loan OF 81 100000 to the State Treasury. occasion
ing much excitement and enquiry as TO the neces
sity for such loan.
The House of Representatives passed resolution
requiring the Banks to report at once a statement
OF their condition. This is considered as an OK.
preston by the House that it will pass no bill le
gaizing the suspension this session.
The Senate amended their bill legalzing the sus
pension and fixing the resumption for the LIST OF
February, making it February, 1858.