The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-06

Ths Money Panic.
WHAT WILL FEE PnlAsYLvAkIA Ly0IsLAyURg no
HAHnsBuns, OCT 8, 1851
me owu ~ N d Lively APPEARANCE to-day. owing 10
The arrival Of Mango. nssu q the Lsgsiasurs There
win probably b. 70 quo or both houses in attend
ssoe 10 morrow morning rhs Governors message
aSsitd with great eel Of anxiety Both houses viii
pee u IL Il 10 hcughs that 'he message viii STATE
the condition Of the banks and on the financial
embarrassment, bot mako no recon- nenaauou in regard
eitner leaving 70 the Lssialature to dcvise the meas
done Tor relief, - . small minority emoarrsss the
msy 70 spch exen. ~ 70 defeat heir measures No
prscioAoss ~ 70 ths rssuit oaa b made
THE DEMOCRATIC MEETING IN PHILADELPHIA IN
OPPOSITION 10 fHs LRGALIzAfIok OF rHU sUs.
PENSION OF SPECIE PAYMENTS.
PalADsumA, o o. s. 1857.
The meeting OF the democrats In opposition 70 the legal
izaon suspension Of srecie payments largely
sa.epded tbis evening, principally BY ~oklng men Geo
Wharton presided Resolutions wero offered, which In
substance are ~ the pre- sus financial EN-
b0YAsmenb, occurring at period when wealth comes
from al s'uoe', overho~irg snd IN aoundance,
are In consequence Of overFading, imprudsnt
ossiso q ,S 1ssSs s:;. sssa .nu.:ss
BY improper expsnsioDs incidental 70 banning upon
An insecure that Ne are In favor q the pol oy
o. na metallic currency alone: that attribute the
rent eYfect scuntness or the ars Of tie to
specc .rsr sactops; at the sas ase ana city should
d,co1ree ed from the banks the treasury or the Uated
Sahs has been dcaiched from suob association; that 10
ga'SAco Of he pressn, suspension Of :oscle p.ym n, By
tie banks would violate the fund, nta principles OF
ccnveus should leave the banks 70 the operation Of
existing laws, tsmpsreh by such forbearsnce ~ the
good sense OF their creditors may suggest the,
Sats should maintain . sor nd ncy Ia specie on
such bHks a. are immedisseis redeonsble 10 coin,
and III u other should be pAnoii0ned; that
posed to bis OF smaller cepomrsons than tho present.
that deDouncs and ormiDste bank presidents ana d.
nd roeies rho shus their to he neres Of
the city The sate end that favor hs adoption OF
the New York bank system, with the exception Of the
Much enthusissm vas caused by the mention OF the
or Jschson, and the ments 10 spend less thSt
exssvSgAsce hes been the Of the present troubles
and that economy the only redress, wero received with
Although the meeting vas large. II cannes Ne termed
full Much dissstssscsn existed among port Of the
denoc,a In regard 70 the MEASURE Como OF these,
ho.ever ock part In 'hs Proceedpg' In order to guard
vopn,ary resoiu ons were ate psd 10 be offered bu.
overrued by The cartier in power Ono Of the
luops asked he bank diieoors 70 resume specis pay
ment render statement or their acco0ns 10 the PEG
ole within thirty days ard gave dge 70 vote for no
for the coming Legislature WIN was nossopposed 70
the present system Of banking he reusai 70 have This
reed caused mrCh disturbance and conf >sion.
Mr Wharton, Gen. Osdwallsder aud others spoke The
opinions expressed WERE that bank expansl end In
os cccursss dnri' the psrsss hi. ssinoou in the
Seventeenth ward between the ers Of the Hbornia
and Frsskn Hose companies Three nea were shit. one
supposed NOR ally
Another difficulty After wards occurred down town, be-
tween the tos amensing Hse compsns and the Paramount
ss o =. bee. win Stranger. and n,emeu
to-day, and ihh evening al places OF amusement are
thYcsged.
FINANCIAL AFFAIRS IN BOSTON.
BosroH, Oct. 6, 1857.
The money Market a. far ~ The spees IL ooncerned
unchanged me banks have been liberal In their dis
corns 70 day and public coondenoe gradually beng
stored.
The banks raid thei, sem annual dividends to-day,
which are about an average Of former year,
Very few tsnsacoDs toes place In q ces ho'e Of ra
A. ~k~v Nkn IA akAp~
pressed. but there were no buyers.
Rumors Of heavy failures current In the street,
but ooy two firms. Of ANAL liabilities, arc known 10 have
The mansgers Of the Ecw England wenssd Co., Of
which hessr. lawrence. Stone 10 wsre agents arc
them 70 oonnue the works u SAxoDvle, and thus con-
true large rumser Of hands In their employ.
McaRs Wells, Fargo q Co. waived ali right 70 day TO
the usual grace OF dYas reoe we'd per the
SaS Of the West, and also The sixty days NOTICE dupl
cAse receipts Of treasure los In The Central America
sroPPAGE OF TIE BANK OF CENTRAL NEW YoRs
Tho Rank Of Central New York, q this city, did no.
open for business 'odav Thomas X walker has been
appointed Receiver OF lis effects.
SUSPENSION IN CINCINNATI.
CINCINNATI, Ohio Got g. 1857
ns,rs. Dunbury' Drake 90, bankers h're, have
Suspension IN LOUISVILLE.
LorsvuIS, Ky, Oct. 8, 1857.
" f. Culver, banker hore, mas Suspended No further
failures are sppreheneed.
FAILURE IN ST Louis.
ST LOUIS, 0H 8, 1857
james n. Lucas o., bankers herc, have closed their
doors
REDEMPTION OF THE rusLrc DIST.
WASHINGTON, 0oi. 8, 1857
Bot few thousand dollls Or puelo deb, came 70 hand
TO cay lih expec cd bai 10 moTrow's mall viii doaoi
less bring large amount
CONDITION OF AFFAIRS IN NEW ORLEANS.
Nav 0sIBASs Oct 3, 1887
The heavy pay nent due ., The Gay we're salts
scorily and resoutey met The crisis oondorcd past
and he shy II Frightening.
Kennel, DE 4 Co commission houae, failed to-day