New-York daily tribune., 1857-10-17
THE CRISIS.
EFFECT UPON CITY TRADE.

THE CRISIS.
EFFECT UPON CITY TRADE.
The number of our extensive dealers that offer their
goods at auction prices and less, for cash. continues to
increase. In addition to those named yesterday,
mertion:
CLArLIy, MEILrs g. Co., Dry Goods, No. III
Broadway.
SB. OHI11EsDES 4 Co., Dry Goods and Carpets,
No. SO Park place.
EASTMAN, BlGrLow & DAYTON, Ribbons and Dress
Trimmings, No. II Murray street.
DIN. KNIGHT g. Co., Fancy Goods, No. 26 yesey
street.
soIoMos & HART, Upholstery Goods, No. 2i3
Broadway.
kelly & FERGUSON, Curtain Goods and Window
Sbades No. 29l Broadway.
ID. DEvLIs & Co., Clothing, corner of Broadway
ard Warren streets.
A. & G. A. ARSoUx, Gentlemen Furnishing Goods,
Broadway, under St. Nicholas Hotel.
E.v. HAUGHwOUI & Co., Silver Ware, China, &c,
corner of Broadway and Broome street.
For particulars see their advertisements.
The DECENT THIsG.-On Tuesday last when the
banks giving up the ghost In all directions, our
quopdsm correspondent, "Richeeu," was consuted
as lawyer, by bank officer, TO suggest some way
by which the bank could hold over to the following
cay without confessing, its sister institutions had
dore, that it could not pay specie "Put black Grape
on your doors said Rcheieu "and post up notice,
Closed in consequence of Death in the Family"
THE GOVERNOR AND THE LEGISLATURE
From The Albany State'man, Oct. l6.
Tie Hon. Saml. A. Foot and the Hon. s. B. Ruggles
heard before the Governor this morning, IN tue
E1t cutve Chamber, in behalf Of the New York City
baIks in objection to the proposed extra session OF
the Legislature. After presenting memorial signed
by the officers of large number Of the banks Of that
city, and approved by the Clearing House, taey urged
upon the GOverner the needlessness impocy and dan
ger Of extra session in the present excited state OF
the public mind. These gentlemen conended that the
recent decision of the Supreme Court bad eectualy
secured all banks that are practically solvent from
hostile aggression any precpitate action in the ap-
poinnent of receivers. They further urged upon his
Excelency that the weIsecured paper currency of
this State would prove adequate to the emergency,
ana that any legislative attempt to impair existing
rights would only aggravate existing evils. 1t
cOEtenGed further that our moneyed
Institutions, if not needlessly interfered with,
will speedily ADJUST themselves on sound
bass and that any attempt by stop-laws, or other
similar contrivances TO evade the Constt 1tOn, either
of this State or the United States, impair the
tity of contracts would be utterly derogatory to
public character and nict lasting injury upon
highest interests, beside setting perncious example,
not only TO citizeIs but to the Governments OF
the other Statef 1t was further contended that any pro-
posed Of relief to banks would be inevitably
followed by similar demands for relief from the whole
debtor community. In conclusion, it was earnestly
coutended that If public faith could now be firmly
maintained, in scrupulousy observing constitutional
obligations, confidence would soon be restored, and
that the property of the country although it might
not fully regain its former prices, would nevertheless
spe eoly attain reasonable and just value.
To these views, his Excellency gave most respet-
full attention. We understand that his to those
gentlemen was, that he necessity for conv enog
the Legislature for the present. but would neverthe-
lees hold the subject open for advisement.
FROM The Albany Journal Oct l6
Under the impression that suspension of specie
payments subjected our banks to the stringent penal
ties of the Bank Law, by the constrained and immedi
ate seton of the Courts the bankers and OF
New-Yoik, Poughkeepsie, hudson. Albany, &C.
served by modification OF the laws, asked the Gov
ernOr to call an extra session of the Legislature.
Meanwhile the Governor holdiGg the subject under
advieemert Judge Davies OF New-foik was called
upon fo an order GOVERN the whole ground. Deeming
il of sufficient Importance to Csim the consideration
of ul bench he scDght the opinions OF his brethren
of tie First and Second Judicial Districts. That
opinion unanimous, and has served to relieve the
solcitude of the barks and to tranquize the pablo
MIND. ,
Should the Judges in other Districts concur in these
views nothing of evil is TO be apprehended from the
Courts acting they WILL under an enlightened and
liberal construction Of the Banking Lava con'truc'
ton which ascetsns and carries out Its spirit ana In
tention. 80
Assuming that the Courts have the power and the
disposition 10 protect solvent banks while in condi-
ton of involuntary suspension, from the effects OF
penalties prescribed and designed to guard creditors
ard stockholders from fraud and nsolvency and as
sumiug also that banks thus assured will feel at liberty
to go on With their operations furnishing business ia
cilities by receiving and paying the notes Of each
other the public sentiment in regard to an extra ses-
sion Of the Legislature will soon change Indeed the
reaction has already commenced. NewYork bankers,
who urged this yesterday. entertain different
vie WIS to-day-vews which the Hon. 5. A. Foot and
the Hop S. H. Ruggles were authorized to present to
the Governor These gentlemen were heard on be.
half of the banks at the Executive Chamber this
uoinirg.
In tie mean time, the Governor, fully impressed
with the importance Of the question, Is ootslnlng In
formation from various parts Of the State that will We
doubt not, enable him to decide it wisely and satis
fhctOrilY