New-York daily tribune., 1857-10-01
Events IN PHIL iDELPHLf.

Correspondence of The N. y Tribune
PHILADELPHIA, Tuesday, Sept. 90, 1851.
There is an evident improvement in the tone OF
public feeling to day, and more cheerful spirit
prevail, among our citizens. We hear of no new
failures There are extensions being called for sud
cheerfully granted, and there are no signs of any
other spirit than that Of mutual forbearance all
round The banks are discountng to their Custom
notes whenever called for, but stdl ceasing ~ re-
deem. More harmony exists among them, at least
more unity of action. This has resulted from their
various conferences with Gov. Pollock, who told
them with great frankness that he was prepared to
70 before the Legislature with such recommends
tons as the necessities of the community and their
own demanded, but that he could do nothing
toward cOnyeniog the Legislature while they were
auarreliDg smOng themselves. He added that the
Bank OF PeDDsy lvania must not be Ostra sized;
that she had Oh two memorable OCCASIONS inter-
posed in behalf Of the credit Of the State, when
no other city institution could or would, and saved
the Commonwealth from dishOnOr; that these sigma,
manifestations of disposition and ability to do good
constituted claims upon the State too strong t0 be
disresarded, and that any relief measures " be
adopted must embrace the Bank of Pennsy lvani..
This reasonable view Of things was assented ~ by
the other banks aud hence the unity of action
observed to-day, as well as much of the improved
tone of public feeling 1t is confidently believed
that wiser cOunsels are now the order OF the day.
Then ugan the scandalUs exaggerations in relation
to the Bank of Pennsylvania are beginning to be
cleared up and shown ~ be exaggerauOns only.
1t is lot true that four of her Directors have faed
John Farnum is the only one, and his whole discount
line a. The Bank was only S65OOO, good aud bad,
instead Of 5000 600 told in the street. Its
not true that sugar house stopped OWING the Bahk
heavy amount No such circumstance occurred,
aid entire nfidence may be iet III your community
that this institution will entail loss to any interest
connected with il. To-day il is particularly strong
too strong to submit TO the dlctation ol others.
Money continues very hard up. On Saturday,
during the severest Of the panic, the paper OF Mr.
John B. Myers sold at per cent. mouth. To-day
the beet gilt edge paper goes with difficulty at tao.
SO you msy presume that collatctzls must have
lost their ,ffcscy in drawing forth money from
tie depOstOries in which the general destruction Of
confidence has locked it mp.
There is less pressure ut the exchange offices to
dispose of county money. New-Jersey notes and
those from interior PenDsy ylvania are nov taken
at two per cent wide difference from Saturday.
Coin appears to be abundant in the pockets of the
people, and no scarcity of change has occurred.
Any amount Of change can be hsd for large gold
either at the Banks Or the Mint. More acsiyIy is
being shown at the Stock Board, and some Of the
of bank stocks refuse 10 sell. At the Board TO-
day various stocks advanced, some vf them at fast
rale.
One the worst features of the times is the crcu
atUn oi all Kinds Of rumOrs as 10 the solyeacy of
msDy VI our principal houses. Some oi them have
by public rumor been suspended several times, aod
sone, entirely soveut and w.athering the storm
With comparative ease, have been made exceedingly
uncomfortable by the circulation Of sinister report,
which had no foundation whatever. Your readers
csOhot be too cautious in hearing ss vel US in re.
PeailDs these injurious impuJatlons against the.r
brethren u, this city.
NeW-York is drawing coin from Philadelphia
wherever she can. Paper from yoar city, as well
as fr' IN Providence and Bos on, ia on our marke.
for sale, the proceeds ~ be RENTED in CON. The
circular giving tne opinion Of your Bauk President.
IN relation to the effect Of your continuing a. pay
specie e1ctes kreat merriment amOog our business
mep. They are pCkiLg fun at t in ali quarters.
Viii ssDd you on future C .sivn soms par.
ncuIars showing how great has been the prosratlon
OF our domsstc industry. IL bas been Is exs4p,irs
as sudden Our fashionable stores are very far from
being crowded. 81, toa. the iewelry est.tishu.n.s
-luxures Which many will Ue connpsn,d Z, AVOID
hereafter Reuepchmeut is already ceginniny q,
rank among the virtues.