The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-17
DAILY DISPATCH.
THE FINANCIAL CRISIS.
SATURDAY MORNING. OCTOBER II. 1855

A1hAA 4 LIST n lOIls
SATURDAY MORNING. OCTOBER II. 1857.
THE FINANCIAL CRISIS.
BY reference to our teIegraphic report 1t win bc
seen that the banks in Norfolk, Va, suspended
specie payment yesterday.
GEORGIA RAILROAD BAsx.
With regard to the suspension of this bank, the
Augusta Constitutionalist says:
The immediate cause Of the suspension ve mn.
osrstana, was the failure Of their deposit bank in
IN afIesien from which specie had been ordered
we VIII only add, that whatever may be the nre
sent Inconvenience to many no bill holder or da
postors should suffer the loss Of cent on the issuas
of this bank '"e '''"ee
plus OF more than half million, and securities of
.he pcst Kind, easily convertible in crdinarv times
w.. ,y .wice the amount Of their present crcuation
,n. .nese means, and an average gross income of
aoout tnree Thousand dollars per day with proud
and wealthy set of stockholders the bill holder has
.r osnns % Iear but present ntinconvenience Wenake
these remarks solely to caution the unwarv
=. .ha Inc oiis are intrinsicaIly as good now
was announced. - '"' "ahA
nv THE NORTH CAROLINA BANKS
i"e suspension of the banks at Wilming,on n
rs n'' already been announced. The Wilmipg,on
Ts,s u thursday evening, says:
on,u Us event has been autcinated for savor,I a.,
some wa 3s consequently, come upon us yyi,Ioni
was dsamnIg. our Banks held out az Iono 70 n.
at last with great ana come into the measure
anS.e "a .ne state. located here vet ,ami .. .he
Wa,hn a"aitlng advices we nresnn,a so.l unsus- a
of WJm;a.to ~ Raleigh. All the rest-tba ..pans
..comn'ana;a1, the .Bank Of Cane Fear y a n .aa
.ohh'ereial Bank of Wilmington1 y , ear, ana the
v;r,naIis me nrst named insttutjoa haa I'm. sn,s
vi Mi'1any suspended for several }.ys ,,, n,.a m Deeh
the fuct publicly peiore ann0ppsiag
., we y. near % this morning that report Is 1, 49,.
'iias tne bank OF Clarendon" at Fayettav;,,s
pended yesterday. We do not Give tbis ;r se sus'
aion Us reliable. But we think, from the nrnsar,
appearance NJ things, that there will ba -
suspension OF the Banks throughout the s'e' al
One word Of canton to bill holders. We t.,,,
TINS occasion to warn persons holding bitIs n, nv
OF our Banks not to be alarmed We believe eyary
one one OF mem to be as sound to-day any nstita
fair balance sheets as may be desired.
THE NEW YORK BANKS.
There was very little excitement in Wall stree,
on Wednesday as compared with the previous day
1t appears that on Wednesday evening, at th.
meeting OF bank officers the following resolution.
were adopted
" Reso'red, That We will take at par notes O
banks In the State Of New York secured in tbt
bank department. at Albany, and also bills of sucl
safety fund banks as may be designed from time
to time, on deposit, from our customers only AMI
IN payment OF notes due our banks respectively.
THAT we will receive or nav balances at III.
clearing house in sueh notes the same beng connt
ed, enveioped, tied and sealed, with the anount
ceriihed on the parcel whenever the sum shall ex
coed one thousand dollars; provided the same b.
9er.,nea oy an officer appointed by the Clearing
A committee of three was appointed to ARRANGE
tne details OF the plan, which is to 90 into opera
tion immediately '' op'i"
The meeting also adopted the following resoIu
ton: -e'oi'
Resolred, That the most energetic exert;o, s,o,
be made for early resumption of specie pavments
and that it be recommended to the banks to mail.
no dividends to the stockholders until the resumn
ton of specie payments.
The New York Journal of Commerce of Tburs
day afternoon, SAYS:
The suggestion in our yesterdays edition. that
all the banks in this city would soon begin TO talk,
new 1ork state money at par is to-day fully veri
hed, on agreement to that effect having been mad
at meeting of Bank officers last evening. The
CITY Banks which are thrown out are the Bowcry
Grocers East River, North River and Mechanic.
Banking Association. Country money secured nj
Albany, and the notes also of few safety fn nd
banks, are now available here for all purnosas a
payment where gold is not absolutely reouired =
The banks will now turn their attention to the
question of Eastern money, and make some ar
fahgemehts Tor that portion of orr circulation.
BANK SUSPENSIONS IN BOSTON,
The adjourned meeting ofthe associated banks O.
house. A telegram says:
Various plans We're presented and discussed tc
facilitate the payment of balances between tn,
Banks and the Clearing House No definite niar
has yet been nlatured
The meeting was not of much Importance to the
general business public, except so far as its action
aided our banking institutions to discount in rea
sonable amounts 10 safe and solvent parties
The system of bank exchanges to- hzss aiepted
VIII assist materially in this purpose, and tht
banks viii be enabled as it is the intention of theil
officers, to help those merchants only reOuirino
time to meet their liabilities.
The proposed course of the banks i'm dseounting
nndoubted paper will furnish great relief to man,
business men who will stand the financial storm
but bend beneath the pressure.
BosToN, Oct 16-Money continues stringent here
nearly as much 80 as at any former period. All the
mills at Fall River have suspended and over three
thousand operators are ont of employment
THE PACIFIC MILLS
The Pacific Mills, at Lawrence Mass. did not
snspend Wednesday, as reported by telegraph from
Boston. The owners have had meeting and have
concluded to ask a renewal of their maturing oh
legations. Ii this is granted there will be no sus
pension, and the transmission of such report b,
telegraph All over the country in such manner
that the mischief cannot be recalled, is highly cen
surable.
NEW ORLEANS.
New ORLEANS, Oct. 14.-The crisis reached III
height to-day and portion of the banks resslyee
Union Bank, Bank of New Orleans and the Me
chanics' and Traders Bank. The following banks
continued to pay specie all day:-The Canal Bank
State Bank Bank of louisiana Citizens Bank anC
Bank of James Robb. The last named and also thu
Citizens kept open till dark meeting all demands
as fast as presented. The panic has now quite
subsidized and there is little doubt but that the
banks which paid specie throughout the day will
be able to continue doing so.
LOUISVILLE.
a.
awaiting the action of the New Orleans banks. i
the latter suspend the Kentucky banks do the same
The feeling in money matters is generally cheer
full.
DISCHARGED oPER ATIvEs.
The Philadelphia Bulletin says.
We are certain that much of the feeling of the
poor against the rich, which ia stirred up so fire.
quently, so earnestly, and generally so causelessly
would be very much modified could the amount O.
effort he made known which hundreds of employ
ers in this city have undergone less for their owr
benefit than for the sake of giving occupation te
their hands. Many man who cond have sclose,l
up, dismissed the men girls, and laid by with O
competence, has actually risked his ALL or incurred
failure. rather than he suspected of inhumanity-
We have heard Of several such cases, and know
that there must have been many more. We have
heard of one instance in which gentleman who
wond not have been suspected by the world or by
his employees of such feeling, shed tears at the
prospect of his numerous dependents being turned
out to beggary end suffering.
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Discovery OF TIE TOMB OF IIIproCRaTEs The Is
peJdnce of Athens states, that near the village e
Arnaoutli, not far from pharsalia n tomb has inst