New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-11-14
'wo Z ihors ,relpdlrp ne hnn obtained few weeks

ego Fl ia lie babk Er,,.ud."
!''" n. Loossu Ti-a9 Ok. D,
Inc tho', <.-sge from NswYof ih's morning
was le.Veo ~ is cODtsirirg no sunourcemert OF say
particular tal,ftrophe. The fact horsVer, tina. The
resoufc II the various houses which bsd ht1cf'o
al sa ffces withs.ood be torn hsve beer sIhjscted
20 Ire further 5sys Ct Ic-e ssiog pres IRE has ehl7
tie prevailing anxiety. Those beet scqlau'e1 VI q
To- American Temperament have hitheto hoped 'o'
rebound ss sudden a. tire psuc; but although gear
charge may s'lll az any moment be sunouocsa, is
now evident that the disturbance has pr.v,hsd 700
long TO psst away wieaout an amount OF deet,uc'.n
which only months O. years can repedy. ine uiumses
tuls far the losses 10 be sustained 10 tbs eoua-
Try are concerned vii depend chiefly up 20 'he non
OF The TeIcsrtile community on sbst aie SINCE rtu
Cd unprecedented grain hsrvt 81 ard couon cry na'
viii brig the lsTeest sum ever realized II y nap
bic 10 doubt Their OF eItncation a1d taen uue
opportunities 10 meet every claim. Bnf nean~hh-
the extent OF default must be enornous and our IN anu
facuIe and shippers must be exposed To me sne,ost
tridl ever experienced. The manner IN wnin u n@
hitherto been met il subject Of homes. ston
and sffords the best promise for the FUTURE nut te
worst stage Of the affair bss yet to come wlo IN
ceeseess maturiT Of engagements AND the prous'eo
abteIce Of renittaDces 10 provide Tor men, ANY Ut
with fair capital and credit IL alwsys prepared u NEE,
short rtrsin but few can be eIpec ed iT weeks ana
weeks 10 discharge the cost OF wages, ra ms'ens,
and sl the oher items in the manufacture OF ne goo1s
they have shipped when tbe resurri t'r those go'1s
are stopped BY cnnvu scn 90 violent and 90 little
to he foressen that it is lkeoed on the sp9t
TO an attack Of epilepsy. We must bs prepared
therefore, unless the n'x few arrivals rsp2. decid'd
improvement, TO bear OF macy oiic'ne' among
respe cable establishments in al pars OF the country,
but il s TO be hoped thst in the ms rty OF CAGES ney
will be found I, admit of relief and thai even where
bic il Lot practicable the breakdown will De but te n
porsiy. II will be 10 disgrsce, suder the cirsum-
,,ances, for any firm TO suspend who may be able to
show that they have conducted their busioess upon
ordinary mercantile principles and Il will BE- the duty
of creditors in every way 10 exercise anu
tinuance of business practicable. Mach, ind led,
Of the prospects, Of future recovetiss from
the United States vii depend on the die
cre'ion thus manifested. Above all. it is TO-
eide there ia 10. the slightest c.uss for general asrn
much less for paric. Our merchants uuconnected
with the United States are merely called 70 meet the
Inconvenience Of high rate Of discount There Is 70
dscred and at the fair market rate they can get az
much money az they want. II any house is 10
condition TO be extr g1isbed by mere increase during
month two Of few pounds per cent in the charge
fer such accommodation az it may rsqaife the sooner
il eanauisbed the better. The fall in the produce
mark ts although heavy has neither been rapid nor
so extensive as TO justify the apprehension Of Diff
cuty in any quarter where there msy no. have bean
VI due speculation In ibe principal cases moreover It
tas simply been a reaction from high prices Ts'c1
had previously led to great pros. OF most descrip-
tions If gooos too the stocks in band are small With
en- abundant harvest and the present price of bread
any widespread distress would be ano n,ly. II is
n
nothing more. We have obviously trials before US
but such shsuld be prepared TO meet 9TH cheer
fulness. No nation ever placed in posion zach
that which from the Indian Nuiny ao1 the Ansri-
found us sound internally, ard we can Therefore face
them with dignity, ard by mutual confidence keep
them within control.
From The London Times. Oct. q.
The entire suspension Of specie payment, by the
Eew-YeIk sDd Boston banks reported this morning by
he il
ent II at could have been looked for. Had the step
been takeI a fortnight earlier a. immense amount OF
ruin might have been averted. The banks, after
having By their Encouragement brought about the
state Of affairs which rendered the panic possible,
sought to themselves by the sacrifice OF the whole
nj rcenie community, but the public at lat have
taken the matter in their hands, and forced them
to stoppase, which will place them in the same IN
diiion with their victims and thus terminate the
struggle. Their course had been simply this: BY
q system of most imprudent advances they
haa encouraged the public to rely on abundc
but or the bonds and pfomssory NOES of
railway and other corporations. When the over ssues
Of this latter class Of securities began to eyce alarm
and il was seen by krO, of spectators that IL they
rould be brought into sudden discredit general
nson would eusue, the banks turned round upon those
hey had 6euJed ard not merely refused further &C
modaion but called TO- "a far as possible al that
had been granted. OF course universal night I'll
Lived, but. "a firm after firm went dovo, tue banks
sill boosted that they determined 10 IN attain
themselves and actually excited some sort If admiration
at the greLdeur Of the resolve. But 1t was plain they
could lot succeed, snd that suppo' ing thai
prese alton possible il might be paid for too dearly
Ia the opinion Of calm lockers 90, another week was
alone required TO stop every house throughout the
State. Apprehersive, however, OF the peray Of losing
heir charters. ard animated by individual AIRY,
they continued blindy stubborn. The community at
ss il appears with ipetinct Of despair resolved ID
bring them 10 an end. concerted run was arranged
by the depOsfos, ard on the evening before the de-
.f zItak ofA uvQa
ained TO be Inevitable. Eighteen of these establish
ns had already been brought down, aud the thirty
tree that remained that another day would zeal
heir fate deputstion OF the Presidents OF tnree OK
the largest was therefore dispatched to the Governor
of the State at Albany, to pray for the necessary leg
sa,ve steps legaizs the suspension and me whs
notification ofthe event was given IN all the
papers OF the morning ofthe inst lts euac vas 10,
Every one, il is said, seemed to feel
thst the ordinary channels of business would forth
with be restOred and that from thst moment the pro
sres ofrecovery would commence. The steamer sa'led
IT rOoD ana the Last accounts therefore reacn ony 10
II o'clock q. M. but postscript OF that date an.
1ounces that everything was going On qniepy ana
bat slle1citement had passed sxsy .,, lois result
v as perfectly ratural. The inconvertibs paper OF
he bark would now circulate at a ys,ue ~ PIopoi-
md surprising it 10 be kept within close limits there
no reason that it should fall much, If ct all below
,ar. No doubt was entertained that the Leghla- |
ure of New.YOrk would sanction the movement, |
md the period of resumption is contemplated 70 he |
be 9Th Of April. In the interval about 60 0O0,0 $50 |
" "a COO GOO of gold may be expected IRON Cantor
la ard speculative shipments of specie from this side
nust remit Only in oss. The great danger which
Pressed upon money market curing the past two or
hree weeks is therefore ghteneo. 1t Ia also believed
at any failures that must have occurred here If the
resent event had OF taken place will be sverted aud
bet rews NAV arrive by future packets of he resuup
ion of business by several of those among the New
iork films, whose fall ssioned solely by The liz
bity to sell produce, or even to negotiate undoubted
ls
The funds opened this morning at decline Of an
ishth, tie American intelligence being at first re-
4 Via. hut suhsennr