The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-12

n
If the b. lsfnnss of the country was SO rotten as
| to demand this construction, the banks for THEN
course. will after the present cloud has passed be
| commended Tel the action. As the country in
stead OF bei'g rotten and poor. is sound aud rich,
the he nks may as well prepare to hold themselves
! accountable fur the disasters their conduct has
| brought upon the community.
The Herald, III its money article of Friday even
ing, says
There were nui nerous reports of failures to-day
and several OF tn largest houses in the city were
named Later in the day all the most important
ZONES contrao icted, and do not feel iusti-
] fed in naming any of them. Among the rest was
| the name of a lara private banking house
The Herald says of the failure of the IIarpers:
''We understand that Messrs. Harper & Bros
| book publishers. finding, in consequence of the
dis organized state of the domestic exchanges that
thev could not effect collections from their country
customers without runious loss, decided to iay 10
suspend payment until the internal commerce of
the conntry shall be again on such q footing that
debts 1ue in the distant cities can be made avail
able 1T New York We have reason to believe
that the assetf of the firm exceed its liabilities by
upwards of million of dollars"
The Faltinore Patriot, of Saturday evening. has
the following telegraphic dispatch:
NEW YORK, Oct. 10.--Fiuancal affairs here te-
day are exceedn. Ely gloomy and greatly depressed
1t is. if anything, than yesterday Conf
deDce in the ability of the banks to hold ont pay
ing specie is gradn ally growing weaker whilst de-
posit0rs and note1 folders are constantly drawing
out coin Merchan ts are very hard up, and several
additional failures. names not mentioned are said
to have taken place Business Of every kind is in
terrupted and brouS ht almost to stand The
banks refuse TO give Il lie increased discounts called
for to sustain the conn lercial community. There
seems to be no other course left than to take
things as they come, anL prepare for the worst
The Illinois Central Railroad Company has
suffered protest and made an assignment This
was caused from an ina bilty to negotiate its
ulysar
ing demands. No distrust, h owever, is entertain
ed of the eventual ability of this vast aud power
ful concern to meet all its obligations Its great
possession of lands is worth ten times the amount
of its debts.
The Erie Railroad Company also protested
to-day and will doubtless make assignment
This concern does not maintain much confidence.
The following telegraphic disl l,ateh was received
Saturday evening:
NEW YORK, Oct 10.-The repoI ted suspensjou Of
Messrs George Bliss & Co. is totally untrue That
firm is one of the strongest in thecity and have no
thought of suspendng. Messrs Seymour & Co.,
paper dealers, Cost Co, sugar fealers and J. W.
Corlies, auction house, have susp, nded.
There is Il moderate run to-day npon the Rowe-
ry Savings Bank. The institution holds 5000 900 in
gold aud 100000 in Government s1ooks for which
gold can be had in two days. The run can hardly
extend to this extent.
There was a run made, this M prning, on the
Brooklyn Savings Bank. A large crowd was con.
gregated in the vicinity of the bant, and some ex-
n
preserve order. The bank is .abu adanily able TO
meet the run.
PENNSYLVANIA
PHnApELpHIA, Oct. 10--A heavy financial pres-
sure still exists here. 1t is generally thought that
the Legislature will legaize tn suspension of the
banks for a limited period
HARRISBURG, Saturday, Oct. 10, A. M-The men,
bers evince disposition to complete the session to-
day, in order to return home for the election this
morning.
M. to fala h.. Dnts.
ed by the Senate yesterday. 1t dispensed with the
going into Committee Of the Whole and placed tho
bill on the second reading
After long debate, the propositions to Ienathen
the time for resumption from April to the third
Monday in January was lost by vote of rs to 60
A motion to shorten the time to January, 1855
was made, when q substitute was offered fixins the
time for July next. The amendment was lost by
50 to 50.
In the senatea political discussion arose from a
resolution declaring that the whole financial diff
cuitics resulted from the Tariff Of 1s4s. and its
notifications by the last Congress
The subject was finally postponed.
Another dispatch from Harrisburg, dated Satur.
day, says: ea @
The proceedings In the Legislature, this MORN
ing, Indicate nothing definite in regard to their
final action. The prospect is dull for any rsasona-
BILE measures of relief In the House the vote
stands about So in favor of such measures. TO Sd
against them. They may come around. under the
very strong pressure that is making from every
quarter. Petitions come from every part OF the
State, aud many influential citizens also here,
doing what they can to induce the Legislature -
do something. i sk ~
THE RIGHT SPIRIT. Il
gentleman in Iowa haying debt to pay in
New York writes as follows:
Owing to the difficulty Of getting Eastern ex-
change, this day transmit to you, per express,
the following articles in specie TO witt In Am,ri-
can gold, sixty dollars; 3si ounces old silver con
(troy weightD consisting Of English shiliings,
Spanish halves, quarters, eghths and sixteenths.