Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1857-10-06

ing card has been issued explanatory of the dealca
| ton
1t is ascertaned that Mr.. Frederick w. Porter, for
thirty years Corresponding Secretary of the Amer.
can Sunday School Union, and as such having &c.
neral oversight of its business transactions, has ssued
notes and sccsptances for his private purposes with
out the knowledge or authority Of the board, or Of
any Of its officers TO the amount of $88 ,883 These
notes and accepances we're signed by Mr.. Porter,
but entered upon any of the books of the Society,"
and were 80 arranged that until within few days
suspicion OF their existence occurred to any person
connected with the institution. We are happy to say
that no part of the funds appear to have been alb
srsctsd nor have any part OF the contributions to s
benevolent objects been lost or misapplied. All the
obligations Of the Society which have legtmstely in.
Cured have been and will be promptly met. The
business will not be seriously interrupted. though in
these painful circumstances we shall need, and doubt
not we shall have, the warm sympathy and liberal aid
of our numerous friends.
AMERICAN SUNDAY SCHOOL UNION.
No. l,l22 Chestnut Street, Phiadelphia.
<Ss
THE FINANCIAL PRESSURE.
As everything relating TO the financial revulsion Is
still perused with interest," we again subjoin num-
ber of extracts in relation thereto from our eI.
changes:
THE BANKS Is THE DISTRICT OF COLUMBIA.
The Star says the District OF Columbia note issu.
ing banks have not as yet come to common under.
et6nQDg as 10 Wn6t Is O6St pOHCy lu6n
sue in the present state Of affairs. 1t is, however,
known that majority of their presidents and trustees
are extremely anxious 80 to do. In the meantime
they neither pay specie dscountin in their own bills
TO the amount of dollar we hear. II Is said that
there $6000OD of District deposits for the most
part in the vaults of the Bank of the Metropolis. and
s40O QUO in those of the Bank of Washington I'm.
der such circumstances it will be readily seen how
and why money il more difficult to be obtained by
persons in business, with which meet their engage.
| ments, than ever before.
| We hear, incidentally, that every dollar Of the
debts due by the late banking house of Selden, Wi
thers & Co., except to the State OF Virginia, has been
paid up by the trustees in full, with interest," and also
that $f5000U of the three or four hundred that the
house owed is in the hands of the trustees ready
to be paid to the agents OF the State, the due pay
| ment of which, however, is delayed by some disa
greement OF partners concerning the settlement Of
| their affairs among themselves.
The broker, at Washington charge tnd 8 per CEN
tum discount for specie on Virginia money.
MONEY MATTERS IN BALTIMORE.
| The Baltimore Sun of Saturday says:
The week has been an eventful one in finance and
business, and closes in rather uncertain state
There is more ease in our local money market since
the suspension of specie payment by the banks, as
compared with the state Of things at other points
Stock prices here, too, are comparatively steady
while at New York, under the excessive pressure,
they are sold at any price, without reference tova
lues, for the purpose Of raising money. The uncer.
tantes of the present moment are with reference to
the large mercantile payments maturing on the lth
and 9TH, and payable to-day and on Monday, in New
| York principally. In providing for the portion due
hence, Exchange on the North advanced In this mar.
ket yesterday, ranging from up to per cent in the
afternoon. Some relief il is thought will be felt n
! New York when these payments are through. We
find some demand here from capitalists for paper and
negotiations were made yesterday on good coliateral-
| at lalI per cent month. Good paper without col
sterals is though not prime sells a. high a.
| per cent.
The operations in stocks have been very light du
ring the week, but prices show an improvement
| B & K r. which closed last week at 52t cash
speedily rose 81 a57l the suspension, but fell of
SGT per share on Tuesday, and has sold at 3ii
buyer 80 days.
| THE PENNSYLVANIA BANKS.
The Philadelphia Evening Journal contends that
the Pennsylvania Legislature should relieve the bsnk'
from the penalty incurred by their suspension. IL
adds, however:
| If we are not mistaken in the public sentiment o
our people, there is a unanimous accord about on-
matter, viz: that Whatever may be done by legisla
tir clemency relieve the banks from the penalties
Of vicious banking, there should be attached som.
condition for public security against recurrence Of
the evil. Nothing would effect the purpose SO vel
as law prohibiting the banks from, at any time, in
creasing their issue OF credits beyond certain fixed
rale per month, and, as counterpose, they should
not be allowed after any expansion to withdraw suc
issues Of credit rapidly than is consistent with
safety 10 customers whom they have thus tempted III
| to expansion.
| WHO ARE FAVORED BY THE sUsPESsIos.
| The New York Tribune gives the following expla
nation OF the effects Of q suspensio OF specie pay
| ments by the banks:
| The effect of suspension OF specie payments by
| the banks is this whatever tho difference OF vaut
| may be between specie and what, under system OF
suspension, constitute current funds-notes and de-
posts that is, in the suspended bapks-to the extent
of that difference the suspension abatement
/ L. .a. rttnh ut
the same sort with those sbrogatons Of debts OF which
we read in the history of the ancient Repuoncs IL
suspended bank paper is at discount OF lO per cent
as compared with specie, then every man who owes
a hundred dollars will be enabled to pay that debt
with ninety; and the greater the difference betwee'
| paper and specie, the less will be be obliged to pay
II is easy therefore, why those heavily in deb
| are always in favor Of n suspension by the banks.
though. after all it is only those who owe more ths
they have owing them who really benefited by
such movement.
The New York Tribune of Friday says:
"There is no relief in the money Market and paper
goes with even greater difficulty than before. In
Decd it is almost impossible to pass any paper at any
price. The numina range is 2a5 per cent The large
payments of Saturday are looked to with apprehen,
sion; but much Of the paper due OIL that day has al
ready been extended. In call loans there is but little
movement. The uncurrent money brokers are opera
ting cautiously and do not buy large amounts on any
| one bank Some Philadelphia funds are being taken
| portant failure in this city.
"The business of the Sub.treasury was r.
ceipts. Sl09l74 60; payments $6l5.5l2 IL; balance
ss 253sl tS The payments it viii , De seen, largely
exceed the receipts, and include $1,000 to the Bow
cry Savings Bank for Government stocks. These Dis
bursements to Savings Banks do not 60 into the vaufs
of the city banks, but into their own, and conss
quently will not appear in the footngs oil the bank
statement on Tuesday next"
The list of mercantile suspensions, failures, &C., in
| the New York Independent, of this week, numbers
SO, of which Of the largest are at Boston. There
were al in New York, and l5 in Phiadephia. There
are none South of the latter city except lew private
bankers at St. Louis, &c.
! new YORK ASSAY OFFICE.
During the month OF September the United states
assay office at New York transmitted to the Phade
The Office in the same time were 81 and il-
gold bars stamped there amounted to 81 ,O69,oio a.
At the cloe of the month there was in coin at the q"
fee S272S70 and 10 coin at the assistant treasurer
office in New York, $685., l3l 81.
! SMALL BILLS.
Too many people, who cannot plead necessity, are
careless in such times these in regard to paying
small bills mechanics and trsdesmen, preferring u
retain the cash and defer the payment. This ID n
grievous wrong and tends to produce an incscuable
amount of Inconvenience and even distress. Eve, y
dollar paid to brakeman or mechanic not only sat
isfies bis demand, but enables him in due course t
pay another, who in turn pays his CREDITOR and thrs
many obtain relief from the movement OF the fret debt
or. If you owe one dollar and have the means to pay
It, you do your part toward mitigating the pres
sure on somebody.-IN. Y. Courier.
l. OPERATIONS OF THE UNITED STATES MINT.
During the past month Of September there @ ,sn were
deposited at the mint in Phladelphis $lao2'3.e in
gold and S473 490 in silver bullion, besides 10
cents. OF the silver, Sill ,855 was In spanish ana
Mexican fractions of dollar, received also III tx
change for new cents. ., o.o AZ,
The coinage of the month amounted to 2as "A >:
Of which $685. was in double easssMosi "a god' OF
course The silver coinage consisted OF sieooo guar
ters dollars, value sa7 ooo There were also coined
244O. QUO cents, rslne 4,40O.
Tho folloTine shows the number Of coins OF differ
ant dsnoustions on hand al the mint on the 3Oh ot
| September:
Double ea,les' eie6. .7oo 90 Dollars. Ss3, ,226 Oo
| Eagles e,oS w w n1n ooiais, . Ivy aoe w w