The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-10-05
U SEE FIRST PAGE. a.

!. FINANoIAL.-There appears to be no
abatement OF the financial pressure, and
no improvement in the rates Of exchange
Gold in all the Western cities is from
10 z per cent. premium, and exchange on
New York ranges nearly at the same
figures. Bills on Philadelphia and Balti-
more have been sold in Cincinnati at par
and one per cent. premium. The exchange
between New York and Philadelphia AMI
Baltimore is reported to be from to 10
per cent in favor of the former city The
excitement has suhsided in most of the
Western cities, but it is the calm Of de-
spair, or of resignation to fate, rather
than that OF relief.
There is less distress, we believe. in
eur community than any other city in
the West there have been no suspen-
sions. and there are but few more pro
tests Of notes, we are informed, than
in ordinary times. The credit Of our
merchants is 80 sound, that those who
need it have had no difficulty IN obtaining
. renewal Of their bills from their East
ern friends. The sudden discredit of the
Tennessee and Illinois hank notes, has
arrested their circulation, and deprived
US Of currency for daily Transactions.
Blu. the notes Of our own banks are com
ing into use at home, to supply the va
cum. But the want Of currency has
greatly checked the retail trade.
A most unwarrantable report WIS set
a1oat on Friday, that the Crescent City
Bank was shor. Of coin. Such ISLANDERS
at period like the present. should be
seriously rebuked and punished. A very
weak and contemplate fellow, by the
name Of hcDonough.a runner for a Terre
Haute OF Indianapolis broker, after draw.
ing $1,000 or $4,000 from the Bank, in.
dulged himself in the expression Of his
ridiculous opinions that the Banks
pile was running low" The business o
running home the notes Of every bank
that is prompt in its payments, and
thereby asgravating the general distress
Of the country, in season Of public dis
sster, is infamous enough in itself, bu,
sending messengers through the country
to spread slanderous reports Of banks to
increase popular distrust. is so wicked
snd depraved, as to justify the applica.
ton of q cOwhide or coat Of tar to the
backs Of the slsnderers.
The Crescent Bank il as strong as any
Bank in the State, and is fully fortified
against all demands that can be made
upon il. All three of our Banks are il
positions to defy the runners for specie
They viii withdraw all their circulation
If the demand for specie continues-anC
restrict their business to the amount o
their capital and permanent deposits
They will take care Of themselves, an(
the merchants will be forced to rely upol
their own resources. Bank aid is no
now 20 be expected.
A meeting Of the officers Of the new
State Bank was held at indianapolis Of
Thursday to consult upon the condition
and course of the different branches
Ali are reported to be sound and strong
and are abundantly able to go throug
with specie payments; and they are re
solved not to suspend unler any circum
stances. They will redeem their circu
lstion and pay off their deposits, and hol
up for better times, rather than yield t
The pressure.
fine daily experiences Of the preser
operations in our currency are maxim
more converts to the hard money theor,
than the former arguments Of Benton an
Jackson. Banks expand the currenc
and stimulate over trading in flush SCI
sons, and contract suddenly when reve
ses come; encouraging the error, on
when reaction ensues, aggravating j
consequences.
A msetingof the Representatives of a
the Free Banks in the State was held
indianapolis on Thursday evening to a
range a concert of action in their futu
business.