Evening star. [volume] (Washington, D.C.) 1854-1972, 1857-10-09
WASHINGTON NEWS AND GOSSIP.

been growing more ominous, until now 1T Is
problematical whether the banks of that city
will not be forced to " suspend by the close OF
the week. 1t seems that the shakey condition
of the business houses at the North, owing to
the panic renders it unsafe to ship to them
from the West, where no one will receive drafts
on them or will trust them with their property
for the time being. A consequence is, that
available money to pay freights on produce
sent forward is not to be obtained at the West
As an illustration of what we mean, we may
mention that forty thousand head of cattle are
ready, within reach of Chicago, to be sent
East; which are, however, kept eating their
heads off, because, as no one in the trade can
be trusted as cOnsignees in New York. the
means Of sending them forward are not to be
had. Such is, also, the case in the matter of
millions of bushels of wheat now stored in the
same vicinity. The New York city banks fear
to expand in the least That is, to furnish the
merchants the means of getting the produce Of
the West to the coast, out of which the western
debts due them are to be paid. In this state of
things it is anticipated that they are about to
fail to pay up their own indebtedness to the
banks very generally.
Now, if the banks persist for week longer
in their refusal to aid the merchants to a great
er extent than at present, it will be plain that
their purpose is to kill off the present genera
alton in commerce at the North, in the hope Of
thus saving themselves. Our belief is that
they are at sea in the same boat That is,
if the banks thus break their cuslomers-and
a considerable portion of their owners among
the latter-their remedy to save themselves
will prove but their own destruction. As, with
the general failure of those in trade around
them, their bills receivable will not be worth
twenty cents on the dollar; leaving as their
assets simply their coin on hand Or. in other
words. not half enough for the liquidation of
their own Indebtedness.
g Whom the gods would destroy they first make
mad -
Hon. j. CLANCY JONES. distinguished
friend Of the President delivered speech Tin
the current gubernatorial canvass) at Blooms
burg, Pa, on the I'd instant, which is just now
the theme Of unstinted praise from the press of
the Keystone State, which is repubishing it in
all directions. His arguments were directed
principally to State issues, though he reviewed
with great power and effect the present condi
ton of national issues, and the policy of the
present Administration as developed in its meas
ures up to this time. Upon the Kansas question:
a. that now stands, he took occasion to say in
the course of his remarks upon it:
The construction now given To the Nebraska
bill, i being put to the test in Kansas and !
firmly believe il will work itself out TO the entire
satisfaction of the country. A convention COM
posed OF delegates elected by the prople for that
express purpose, has assembled. TO frame Il con-
st1tutlon. preparatory to the admission of the
state into the Mon. Either this convention is
clothed with sovereign power or il is u nuIlity-
If the former, then il falls exclusively within its
Jurisdiction, not only to make the constitution,
but to send it back TO the people ratification or
not, as they may determine, and if they should
submit it 10 the people, 1t is equally eiclusveIy
their province to say who are qualified to vote on
II. Interference, at any time, by any functionary
Of the general government within the lines of this
jurisdiction, would, in my opinion. be a violation
OF the very letter of the Nebraska bill. We may
take it for granted that they will submit it TO the
people, but il is for them, and them alone to de-
eide. -
That such is the doctrine Of the resolutions Of
the Cincinnati National Convention must be
apparent TO all, and that it embraces the whole
case in nutshell is equally clear. 1t is the
position that will be occupied by the unani-
nous Democratic party. in the approaching
Congress, the country may rest assured.
Upon the propriety of, and necessity for,
frank and unanimous support Of the present
National Administration, if the Democracy
would entertain the least hope Of triumph in
the next Presidential election his argument was
a powerful one indeed, and must find its way
into the hearts Of all true Democrats. That
course is not only due to the future of the
Democratic cause but, he also shows, to the prin-
ciple Of fair dealing towards the honored stand
ard bearer Of that cause in the last Presidential
election, in whose name the party won so sig
nal triumph.
This speech Of Mr.. Jones is an important
one, as all who comprehend the nearness of
his relations to the President will instantly
understand on reading it,
FACTS STRONGER THAN ARGUMENTs-The
rejecting and well-informed in all sections of
the Union will hardly fail to perceive in the
entire exemption of all the States SOU tn Of the
Potomac river from the bad effects of the cur
rent " financial crisis, a triumphant refuta-
ton Of what writers Of the Greeley school have
been dinging into the ear Of the Northern pub
lie 20 long concerning the relative industrial
VI sccllOUS Oh the CODIeueE-
acy. No mercantile suspensions ard no fail
ures are occurring or have occurred at the
South. There is no falling off in the prices of
or demand for labor there and, indeed, rs if
by way Of making the contrast as strong as
possible, never before has the South so -four
ished industrially and financially as now; while
suspens ons, failures, frauds and reputation are
the fashion Of the hour at the North among
those rePuted TO be moneyed men, and short
time, discharges and starvation in prospect are
the portion of hundreds of thousands u honest
and industrious laboribg men and their families.
For years past We have done our best to open
the eyes of the Northern public to the utter
falsity Of the Greeleyish Misrepresentation
concerning the comparative industrial status
and prospects Of the two sections of the Union.
All that has been written and published in be.
half Of the South on the subject has been coolly
pooh-pOohed or whistled down the wind, as the
mi NJ d.fa,daro s..lo