The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-05

geroy. No large failure suoog tho antls ciasses
Was iepor ed and the only dssoier Of I'm oosnce ~N
tho suspension q The house OF Clark Dodge Co, stock
and exchange broserA looks 10 us th ugh the
worst was over e. though had wosthered tho most
dangerous and slloul point, and more In
psrAisely smooth wHter The result Ut yesterdays opa
iona 10 nnsnosl Affairs shows that the community Is
strong, that our merchants have any quantity OF back
bone and thai at sacrifices they determined to
through The nqu!cstioas OF yesterday must have
teials strengthened bank5 and placed hom In po
St!cn to disooun. again prc.t, liboray, without In
crcasing sher line beyond q safe hsure Tho
banks, 10 taxing care Of themselves murt do the
best In their poEer for the community THIS oiiy
and Boston bciyg al present the only t1o speAe
payment poin. Ct any impo lance =. the North, !
10 highly necessary that tia amalst,n Of specie
these ponb should be rapid and to extent The
srra hos OF specie viii BIO to thass points, but the efforts
Of the banks In Philadelphia and Baltimore, which hsvs
susi ended 70 place then selves position may
ksep up demand npen FOR specie, ~hi,b shsll he
compelled 70 ooutend against II tho banks Of Boston
sinue specie pap mepis they viii aid very much bank,
IN Fastening too CoDc,us Of nis revuon Az for the
banks OF this CITY, ruppensop s utterly and entirely GU,
OF the question II Bs,ua lie able to sustain soif In tn'
posillon shsl pass she crisis OF the dsea.e
The erea md oreadh OF the rsvuision depend entirely
upon the banks Of The two great cnxncie and commercial
points Whether continues for months FOR years,
. siier that will be d. termned by banking insiu
tons With eye solely 90 susA,nsog themselves, the
banks viii OF course consider II the ~is9s. policy 70
strengthen its mercantile classes The nisre t. OF all
parties idenucA, and be banks In helpx the me-,
cbsp ~ part hsir hemssvsx Ore f,he hardest dsss IN
year hAy pasaed away shoa half he trouble snua
rstee and then eforo look fots ard With hope
In thirty days from he heaviest pay nents or ,he
ha nvep nd tiu,eo mt Nc An
gradual letting up OF Ssessu'e, and we tNss Asesy
restoration Of public coSoeepoe. We may sixty days
hence look back the present. state Of things with aston
spment, and worder how It wa, that he public mno
became TO mic struck and Aea With much Ella sod
apprehension That great portion Of the present ss-in
sercy IN money matters Ia thc resun OF Gloss psn,
must appear cssr enousn 10 all cool, calculating mods
and .be pr obAolty that will pas, away suddenly
upon Tho elernsn,s OF real prosperity
rot In conoitlon to justify NJ continuance Of
financial evulsson. that the Affairs Of Of des
and largest houses In . rotten, 5ankrupi condli
Oy the Suspensions aroady registered oct gree
Of merchants have proved tnemaeI1,s souna
strong, having passed through . ies. ana
out r unscAnod This LOOK we'll and syss W hope fes
the utuyo Anew weeks AMI ne bulk n soe tai
menn will be over The sess resources VI tae oouutr,
hsve hardly yet been touched. osr crops have ns pa
been made available, anc bsve sreforo, rcos ei no
aid from that source A tbs machinery OF
gets more In moop and all Inc parts move
harmonIousy, We shAn 6nd plenty ana abundance, In
OF scarcity and starvation There ocs.aa ncoa
sisteDo Connected With the pseseas oonain OF daaa
and com sercal affairs which snio ens lry
us ths, The so,oe Of this revuisioH
The extent Of crops aud the demand eUns scrcsi
for graf staple exports before "
weeks turn Into markets the current O. .pss From
Europe which cannot but n por boat ioaoe
The nst large arrivals Of button from Erssnt mutt haze
wonderful effect the public mind, aud s,ve 'mpesc'
at onoe TO the movements Of sgrooursi pro-
duets. The banks should turn their ~ engoo
much - possible 70 the support Of 1ouaes
engaged In movii the o,os. In % doing they viii
bic Aae cotton 70 come forward sad 90 fr-srd
Ncihirg ,ts, we can think Of vn sve sugh quick sud
such psymancat relief the whole coun,y the ~he.,s
OF com ve literally blooved by the utter i'm
possibility Of getting marie, the crops Of he
West, and the banks will be dotrs tnsmsccc, and the
community q large greater service In devoog their
10 this pnpose Tor he NEXT thirty days Tran IN
sn- other way that devised After that the crops
viii take care OF themselves. Il viii be seen
BY this .ha. 20 are not, ~ peopls, roinei
quite pct. specuIaeos hAI be proay we'll Ii.d
out Md II viii be long ne bef,re railroad 'oouriaes
will again bs versh Any shlSg ike old prcsa any ues
lines Of rad constructed, bat the great Interests or the
country bsve not been quite apnhaed The practice OF
strict economy ard rigid adherence to iegtmac lines Of
business and b~cchss OF naussry ELL uldmssey bring
matters 1oupd again al right
We ynderstan the ou ube,apd ocsI Company var,
70 psoefs sstaroa, iu floating debt, doing
there doub, ina the company wisely rne
suspcu,ioo Of navsson tho by breAs SSe,
which locked Up In uAnsi about u co. tons OF COAL the
allure the pars Of oral dealers here and esor here
NEE, hcf obligations 81 msuSily; the almost nposrbily
Of rsisips money best ;cYisa, the
sro,bArt rates Of Interest," made II impossible for the
company 70 CT son from Day 70 DAY, vi,o sub
uarg 70 the gres sacrifices and deemed
Of the Management the hes, suspend for tbs
present We have frequently sneeAvosed rss, upoa
he mDds Of railroad managers and mspascvs OF oshe,
involved oorpopuoss generally, the wisdom Of su II
courss NJ ,bs, 81 earl, day, berore
laoy get completely Used no BY tho dcsren, modes Of
aIsncicrinx. whore be that such mrsi be the
Ultimate resu Without peotsd relief the
they 60 protest The better FOR oil parties Interested The
Cuphersrd Coal Company have been doing good busi
pess spd would nol teea reduced 10 tos alternative
ssd their bills payable been partially paid, had
cars navigation eusbied them get their coal 70 market
70 meet the current demand. hi, suspension viii, We
ts-s, se but ZEN porGy The entire dosiing de,s 10 not
over $50 OoO which in ordinary tines would be mere
bssaisle.
We unders~n ibal the bank statement to mcrrov with
shO# 10 increase lbs q 6scounts, aaspsed and
"a ,e ccmaupiy had shghtto eapcr from he sstcuonl
pul By TIE manager, themselves, bat, on The ccuss
r. rrrhcY ccrirte,on will appear. There ma be even
con, olaioE 10 bls Tho rapid The contraction, the
sooner The banks ~ ~, dosn 70 the resting tuning
P-'bl A. they torch bottom novemen. 10 nuso
cIal affairs will be UNIFORM and the pressurs loss
acute A contraction the PAR, ~ the banks shows 30
reduction In commercial credits, -hich usually 10
oonsids red OF increased strength Tue hssvy
pc, Of chants without The cresuos Of ses
liabilities 10 corresponding extsp', nu'i lead rspdly 70
.oirl Of safety vnors ali OH be FREQ from fears of Pc
MICS and revu,hns. When We are ont OF debt 20 are
ca, Of dsrger enc appears 70 be the dc'-rmiusurs u
cur banks mse The commercial cIascs 70 place them
selves cut Of deb, In the shortest possible tine
A. II NIoeIay'r regular seni rsskiy suosloa sale Of