Evening star. [volume] (Washington, D.C.) 1854-1972, 1857-11-05
NEWS AND GOSSIP.


hand. throughout the month Of October, about
eight and a half millions Of dollars, inclu-
ding certificates of deposit received by the
Persia to the amount of over a million, which
are rs good as specie in all business transactions,
and more convenient in form. The total
amount of specie sent out of the country in the
course of the month is not more than two or
three hundred thousand dollars. At the very
lowest calculation We may safely set down the
net increase of the specie in the New York city
banks, in the month, at seven and half mil
lions of dollars. The amount Of produce that
found its way to that city, in the month, must
also have increased the available resources of
the banks to more than million Of dollars.
From the last mentioned source the increase in
November is destined to be much greater than
in October, during most of which month the
business of forwarding produce from the Great
West was entirely suspended under the infu-
ence of the panic. By the LIST Of December we
presume that the New York banks will be at
least fifteen millions stronger than on the LIST of
October.
Nevertheless, we perceive no movement
among them looking to the resumption Of spe-
Gle payments Banks are afflicted with chronic
disnslination to do that thing-to pay specie
in such times. The existing legal provisions in
that State secure New York bank noteholders
in realizing par, past peradventure. Their
enactment was the result of Discrimination pre-
viously manifested to pay specie. The expe-
rience of current times will doubtless have the
effect of inducing such a movement on the part
of the people at large, Of the State as will
end in legal provisions making every bank
stakeholder as liable for all the transactions of
the bank in which he is part proprietor as he
would be for the obligations Of any commercial
concern in which he might be partner with
out limit as to capital invested That's the
antidote for the disease-and that only.
CoTroy Is KING The force and truth of
this adage is most effectively set forth in brief
extract from an authoritative quarter, which
will be found below.
1t is not little remarkable that the capital
lists of the North should persist in warning on
the interests and progress of the cotton States
as they do, by encouraging the fell spirit of
Abolitionism among the prejudiced and ignorant
in their midst. While cotton continues to hold
its present position in the world of commerce,
and it continues to be found impossible to OBJ
.ain the increased supply of the raw material
that commerce requires, elsewhere than in the
Southern States, domestic and foreign combi-
nations against their interests will all prove
abortive. Thus, while elsewhere in this coun-
try at this moment commercial and Individual
embarrassment rules the hour, throughout the
whole South bankruptcy Of corporations or in
dividuals is absolutely unknown, there never
having been time before when everybody and
every thing throughout the South was SO clear
of debt, and held SO much substantial and en-
tirely-paid-for wealth.
This condition Of things Southern is not alone
that of the owners of the means of producing
cotton-the slave holders But of every one
in the South engaged in any and all callings
whatever. How forcibiy does the fact refute
the arguments of those who are harping upon
the falsehood that the existence of slavery mil
itates against the interest Of free labor in its
midst,
The CoTTON QUESTION is extremely inter-
estinG-uniFsS, indeed, term expressive Of some
deeper emotion should be employed-to remark
the views and proceedings of the manufacturing
world at this moment with regard to the cotton
supply. This plant is now considered, and with
perfect reason, of the chief elements I'm the
mutlnlpS
the French journals spec ulating the other day on
the effects producible in the cotton ma ket by the
interruption OF cultivation in 'Bahar-.he Afnesi-
cans are seriously appFehensive Of being overta-
ken by the excessive demands Of Europe and
our own manufacturers have formed associations
and established correspondents for the purpose
OF seeking out this precious material in all parts
OF the world. There Is no delusion or M mia
about all this. What bread is to life cotton is to
commerce, for TaiIBent comes next in necessity
10 food Wool was once the great staple of this
country, but wool now gives place to the pro-
duce of the Gotten plant. On this produce de.
pend our manufacture, and upon our manufac-
tuTes depend our mex haustible resou ces and our
national power.
AS matter Of fact, it must be presumed that
this adjustment up to a certain period had actu-
ally taken place; indeed, il is but Just now that
positive deafth OF cotton Is appTehended About
the Time that our own cotton manufacturers made
such enormous strides. the United States of
america entered specially upon the work of sup.
ply This, by their energy, devotion. capital,
and skill, they soon monopoliZed, and for wears
together consumption on this side the Atlantic
and production on the other proceeded at rate
OF acceleTation toleraby uniform. Even now a
good crop and a good harvest at the Southern
States of the Union would provide the Lanca-
shire mills with almost much provender as
they require.
Lastly, however, the supply has threatened to
fail in keeping pace with the prodigious develop
Inent or the demand, and variety Of circum-
stances appear likely to increase the dispropof-
ton thus first created. The Americans them
teTldl, and the manufacturers Of the Continent
now come into the cotton market with more con-
siderable demand than in times past These
weights thrown into the scale tend Of ecu Sc to
the further depression OF the balance, aud the
Manchester people ask what is to be done if
America can hardly supply her present custom
ers, and is likely rnough to have more, The an
Prehsnsion is felt in America ITSELF where in
stead OF expressing any Jealousy, the Southern
journals dilate on the expediency of enIaryinp
the field Of supply, and bringing some countries
10 he aid OF the Americans in their work of pro-
Vlsionlng the world. Accordingly, our manufac-
turers have organized associations for this pur-
pose, and have cast about in all directions for
the modes or stocking the market more satisfac-
tofily.-LoHdoH Times, Der. 12fh.
LAST NIGHT, large crowds assembled around
the telegraph Offices in the National Hotel
building and at Browns Hotel, evidently called
thither by interest in the Baltimore election
Atone period nearly thousand persons seemed
l. -