The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-26
THE EFFECT IN WASHINGTON.
WARRINGTON, Sept rs, 1857
The suspension Of the Bank Of Pennsylvania and the
fusa Of the Grd and other banks 10 make specie pay
mons bills $40 and checks, excited surprise In
commercial circles.
MASSACHUSETTS.
From the Boston Traveller, Sep. 10 !
uTvaIr0o0 Avn yTN A nrrAr pAnrn

The mon-y pressure which has pervaded nearly the
whole country = not unsxpected BY those who havo
watched the aspect Of the markets for several months
past The extensive investments made In Western lands,
the deveopcment in regard 70 large railway compasies
domestic manufactures and the high price OF the
10 a togcther with the excessive imports and the great
sugar specuatons oil tended 70 prepare the minds Of
though was nt possible 10 foresee fully the extent Of
severity nor the individual interests upon which woali
The meiancily d,ausr TO the CsTforui steam packe,
will do much 10 aggavae the evil for here de-
pecA0n Of vare' or property only changing hands bu.
million dollars 10 gold, and probably much in the
bands OF the passe pgers, large number OF whom are
nad 10 have been returning emisrar, vho had done
markasiy well and had ample funds with than.
This monetary trouble, cannot however, continue lorg
The vesher n favorable for ripenpg the largest crops,
uhe source OF national wealth. that upon the
ground The tsrvest OF whca has been large, that OF
corn win he greater than ever before ansugar and cotton
cuvaors arc promised year Of enormous aud unpars.
He'd gain under present prospects.
Business viii be very soon adjusted 70 . now sandud
Tor be value OF many descriptions OF property and
anew and prosperousy until again broken down by re.
newed action This reverse viii not be without ia
bennt, only teaches The business or the country
not 10 spread their busnt fast and too far The pro
ms on moderate business, Kept continually under the
eye and within the ,ntrol OF the merchant or msnuao
turer, ~il almost always be lager than those OF
extensive business too widely difused, and requiring
amount OF capital hch every lime money becomes scarce
snbecu The whole Industrial ercst The tender merces
Of the money lenders and crppcs the by the wi h
drava OF heir deposits and the return OF their oircuslon.
Men engaged In busincfs should no, keep their capital
inverted too closely they shculd alsay5 keep eueugh
hard 10 york ong safely on their and 70
meet their liabilities In these times OF periodical pressure
which always seen 10 threaten visitation
10 always thorsht but little better tban madness for an
arm " take the field W theut body OF reserve watch
can be called Into action 10 the scale In the moment
Of doubtful contest or TO protect the retves OF the
army; and II 10 quite ~ mportant that the buiness
should always Rave areerve OF working capital, which
he can use FOR bis relief Ia adverse umc- We shal
have the supertructrre OF business resting upon drm
foe ndaon uru men learn this truth aud careful
not 10 enter into any business requiring large amount Of
capital without adequate means; and than this
serve portion o The proar or prosperous years. IN solid
capital u meet The reacion OF unfavorsble times Instead
OF forever usirg sp all this surplus fast II earned
eitfer in extending their business or in nvermeus n
hazardous spcculations.
The largest portion Of the mills OF New Engsna are uow
running short tmc and there but little doubt that n loss
thsn srty daya ehcr the raw material will fall
cures Of all kinds advance In proportion 70 The Increased
cost OF production.