Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1857-10-27
EFFECT OF rHE AMERICAN FINANCIAL
PRESSURE
From the Loador 7Smes, Oct. .


m - >o""'' 1'~''' W y
ine nanA VI h"sand have advanced their rate OF dis
count to-day from 81 per ccot, which IL bad stood
since the l6,h OF Julv 10 per cent Tn, s l.,na.. n,
,h. ,.no,..l d., =, -, =, =, -
-. s''4 ""'0" "Ss 'eu y" !" . s''P nas
Ae '"o Puo"c ~ surprise, because they were not PIE
pared Tor the extraordinary news BY the two last Auer
can mails Allowing dino ,.isb, IN that ;r,.lu.,.. H.
:, All, =; A. - ''e''
Wv ''''"e"' W create a'stn, athoueh
'nere a"Su Poosouty II may soon have To be repeal
ed The trade Of this county, ith the United State.
annual total Of COOL and it Is impossi
bic for financial trouble to occur on one side without
its being deeply felt on the other Dining tho last
years have had many opportunities of obseryns th.
sensveucss with which We res pond to monetary pertn
batious In Frs c. bat our relations of comm, rc ,nd
ita with that country are altogether in
paIison A panic In New York, therefore which send.
the Of discount point ranging between 20 and sO
per cent aud which n, continued with intensity 10, a.
or six weeks must necessarily subject us To severe TEN
poraty pressure aud If the sbould h n
ted To rice o half or eyen ore mar cent 10 tho v,Ia s
money s have reason to ourselves and
TO the fac, as another the inhe,.n
OF our general position For more than mon,h nas, M,
only has every payment due 10 ps fom Ams,;c. - -
far as possible nded hut speciaI credits have han
eagerly made uss of call. mn ralxav s,ocLs I.,. -
here have been annoancea IN on. Coz. .losas q; ~
amennt approaching Ssartsr Of million sterling and
drauyhts o,the nu,rhaae M - r.
lsh can't ast. tempt,d nv fan In nr;res ,o, ,,hi
they conceive there cannot fail To n. an s,v ..,io
IL Is scarcely too much to assume that In tb, way mil
hna adw xxtfk
held or absorbed from us that o1d nv. -
in our possession at this moment ard the ,h.
the process nl 20 on for some time longer /, must al
so be considered that At the same nerod va h.xa h.o
d.sp,tcbipv tbe p,,.t e,.,lv A.at ot ,ransoo.,, - -
ploy.d AT one mome,t with ,br,v o. s,,,x ,ha,.",
troops 20 India the outlay upop which In the shna -,
stores fuel &c canno, have fallen short nj hail ;ir
for which We will get nothing until the rr,rn ot tn 80
sells from Calcutta a. the payments from the Indian C.
verumet will not be made till certain prmbet of
after the arrival Of vessels at that port The India
a. o.sible the liabilities OF IN, ts,r;to, Al q ,S
ab.taning Gom drs wing the usu,I amop,t Of r.vs, ~
quired from that side Tor the PAYMENT of ,livdends mi
other PURPOSES and hay. tins found 1, % r..
row million from, the Rank ITnon the whoi, ,ka,s
il is possible that the combined oper,tion Of The 49,.
can panic and the Indian insurrrction NAV fo, ,be ,
have affected our resources to the extent Of two o r.
miliou. decline Of about a million in the hutton Of
the Bunk /. usually followed by an advance of hsIf NJ,
cent in the rate Of discount IL wouII con.eoasbtIy
upon NJ IN three times tb,t anonr, ;h, Us oo'"e
rise of one DER cent and ,h.t 81 h
snn, f,vo,-hI .u su.1 y y ony through
All, has been dsI.xcJ Or nrvaD,1 Tr '.A ta' re-
in the abnndsn, b,,ves, IA ,h - e 70 ov 'ounu
ket "a we'll ,s in the .unnss r Ii; VI S1e s'A mar
has In some degree Diminished rho sreoi gu
Tho L., ~ H., r.coi;, 90 -, s',pi'enUs oy
lief thus afforded hnp.ned in ori;r.,r Co. 's
now probaIlr have seen The 80, - 5; &c s"oa'u
per cont A. II Il II hos sir,nI $3.50 I'Ieouu' a.
| il the rise for the present az ali evsnt. -, -;
stead of carving IL 10 7 nor cent I'D. ~ -. y, "
stances This i no .nall satisfaction. h, -
believe ,bst even Il IN, thor strinSe,cs ho,iI ~ o 70
enced we are MOI in any danger of seeing ,S
winter ush,rel in BY a very eItepsvs g. Ps
cial disasters O eonrse tba Ar,.;o 49,, ~ .o'"le'
have told heavily on ind yidual houses a, hi. 81 80
there are also several branches Of co,Iv o SnS
b,y. e1perepced yido auctpstors Iba; - w.
c,,u,l L5runes of soecnItor TO- ~. uis'ulo 'ns
times number OF nfrm e-tab. bmcn,s c,,,ri ~ -
busne - from hand To mouth 10 whom r;sc og ~, 80
cent in the rate Of discount Alter any lone ; 90, -.
sure l. an inevitsl. sentence nj es,iSF ~
al.y AT the end a, the yc,- ,b, s,,cb J - = uI
But as regard. the broid trade of the err, 4, -
sibls TO discern cause OF fear Month Inv month on
commercial payments increase in magni,ude "a go, 80
met with pnIctuaIty never surna-sed and ali ,Ls -