The Washington union., 1857-09-26
WASHINGTON CITY.
SATURDAY EVENING. SEPT. ae. 1867.
BANK SUSPENSIONS IN PHILADELPHIA, BALTi-
MORE. AND WASHINGTON.

MORE, AND WASHINGTON.
BY referring to the telegraphic column it will be
observed that the banks of Philadelphia have par
italy and in some instances wholly, suspended
specie payments. AS matter Of precaution-it is
so alleged-the banks of Baltimore suspended specie
payments to-day and from the same a similar
course was adopted this morning by the Patriotic
Bank and the Bank of Washington Of this city. Ii
may reasonably be expected that large number Of
and irresponsible banks in the North, East and
West, taking advantage of the general panic, will
nominaly refuse to part with what they really do not
possess The sooner these worthless institutions are
out Of the way the better it will be for all classes of
the community.
AS general rule, the southern banks are in a
sound condition and, with large and increasing re-
sources at command, they will be able, with few, if
any, exceptions to weather the present storm with
undiminished credit. The condition of the banks in
the city of New York is such as to warrant the be-
lief that their fully equal to meet exist
ing emergencies. Their strength win force the sus-
pending banks into liquidation the speedy re-
sumption Of specie payments.
Looking at home, we can see nothing in the finan-
cal affairs of this city to warrant alarm distrust
Our citizens not suffering from the effects of over
trading or oyer-speculating; and the cash means of
our banks are not locked up in protested paper
the deprecated bonds and stocks of Clancy" rail-
roads At no period in the history of our city was
the condition of our merchants, hotel keepers, me-
chanics, traders and realestate owners more pros
porous and promising than is at the present time
Never before were clerks journeymen, and laborers
as literally and promptly paid as now; and we ven-
ture to say that the balance-sheets of our banks
show as large net profits for the past year for
any previous year of their existence Compared
with Baltimore, Philadelphia New York. Boston, Gin
oinnati or any other northern, eastern, western
city, the financial condition of Washington should be
a source of congratulation instead of cause for
alarm. But STILL with all substantial means at
command, with general freedom from debt and gen.
eral well-paid employment, we are free to confess
that money panic and money crisis can be soon
got up in the federal capital, if citizens desire
such an expensive luxury. Let each distrust the
other--let the usual money accommodations be with
hed--and let all engage in the confdencem emparting
business of Withdrawing specie from the banks and
the ordinary channels of trade for boarding" pur-
poses, ana not many uays VI even Hous Will elapse
before the business men of Washington suffer
ing as their brethren of New York and Philadelphia
now suffer. ...
Let the citizens of Washington have true, real
izing of their really prosperous condition, and
the troubles which they invoke by their fears and
distrust will not come them.
run was made on the Bank of the Metropolis
to-day but il was met SO cheerfully and promptly
by the custodians of its well-flled vaults that con-
fdence was soon restored to depositors and note
holders.