New-York daily tribune., 1857-09-30


erect either for collection discount. Future col
cions ard discounts viii be af the charge and nag
of iEd,rid'ais, "a long the suspension IAts lte
banks VIII set as agents only.
Our money market, "a FAR "a our banks ana sp-
proved bsIk customers ia corcerned - uow on TIE
verge Of Improvement. fey dsvs longer, doubtless
and will be materially better. The only thing 10 De
done by the banks and the Dercharv is TO stand hr
aidrg each other as much as possible rot expecting
too much from each ether
From Tie Hartford Tizes
The banks Gao protect themselves, and do not wlsh
to suspend. But can they gs or paying specie Tor
the neX ninety days, and refusing 70 loan doiiar
without breaking down the pest houses, and most OF
them, too, in New England II will probably De oet-
ter Tor all classes-merchants manufacturers laoo,er
and all-if the banks generally conclude 70 suspend
The banks IN this city have already redeemed sucn
large proportion of their bills that they can continue
TO pay. But if the Providence aud Boston banks sus-
pend, as appears they must il will be best prooaoiy
that our banks should do the same. IL such result
haupers, bhOlders need not be at all alarmed as me
bills will be current, and specie payments Will De 70
suIned in short time. There may be no generai su
pension in NewEngland but it now appears TO US tna'
there must be, In order to save important business n
terests.
We should regret a suspension at any time, but un-
der the present banking system do not see no" II
can be avoided, without destroying immense business
interests.
From The Albany Journal, Sept q.
To-day the feeling Of ihtrus has subtided Scarcely
81 O00 in specie has been drawn, while about hall tn II
amount, drawn yesterday, has been restored: Inc
intimaton that depOstors who have drawn their saw
irgs lose interest is correct orly with such as foally
close their account We understand that such de-
positors as-the temporary excitement over-retafn
their money, will stand in reference to interest, as
they did before its withdrawal.
IL is stated that arrangements hsve been copsum'
mated by the Merchants Savings Bank OF Chca ago, IN
connection with aGerman banking house in New 0rk,
70 forward million bushels OF wheat, In bags, 20
NewYoIk, via the Erie road.
From Journal -
The Boaro of Directors Of the OnOndaga Bsnk
pass ed resolution, ct meeting this morning, not to
aged state of tbeiI books by fire on Sunday morn
ing they being so badly burned that they
cannot tell how the accounts Of depositors stand.
They are paying bl-holders in specie, If demanded.
The Bank is sound and the public may have no tears
in taking their notes. They will doubtless be IN sue
cessfu operation in few days. We Learn that de-
pottors are making their deposits ss usual to-day.
From The Uhca Ob'erren.
We direct public attention 10 the following caro- OF
the President Cashier and Directors OF the Onel Is
Ba-ks Tbis bank s one O. The rdest institutions
in the State and always been conducted IN most
liberal manreI:
CAED Some rurrors have been put anoat unfayor-
able to the credit of this Institution.
We deem it due 20 the pubic to assure them mat
the capital Of the banks 400 ,O0Ois unmpared, and
that il has surplus Of over s69,OOo.
The redemption of its bills is entirely certain; and
thst tie public mind may be perfectly satisfied on this
ScptenJe, g, 1851.
There was comparative calm yesterday IN the
money ard stock markets, compared with the great
excitement on Friday and Saturday last. Sunday,
most glorious day, came IN very oppotuneiy ana haa
a most benign influence in calming the discordant
passions go everywhere visible the two previous days
There were still, however good many people con-
Sregated in the vicinity OF the banks Yesterday and
toeraby sharp ron was Kept up on most OF tneih le
whole day. Al eyes turned to New-iork, and
great xety was evrced to learn whether the banks
there would be able 10 maintain specie payments. AZ
about past three in the afternoon, II was announced
pended. 1t had been previously announced thst the
Suf. TX Bank Boston had refused to redeem the notes
of the New. England country banks. This seemed TO
strengthen the opinion that the New Banks would
CO. Our own banks pursued the same broken anj dl-
vded course of policy that has characterized all their
doings since the commencement OF our troubles.
There was little concert of action among them.
Some paid nothing in com, some piid ,% tner
sj no.ea and some paid their checks in bank bills;
sad opposite courses of policy were pursued by eacd
In the latter part of the day the policy became more
general 10 suspend specie payments on oil cank notes.
ana TO pay checks IN notes OF all denominations, CIV
ing CON for fractional parts of dollar and for sums
under S. This policy adopted for tue purpose OF
affordng the community the conve enience OF curren-
cy and TO head off the propagation OF the odous issue
of currency 10 the shape of city certificates, area1y
birted at The banks il is true, render Themselves
liable 10 forfeiture of charter. But as necessity is
said TO know law. they have determined TO rles H.
As a choice of evils, nTedeema5e bank note cur
rencv will probably be much more acceptable TO the
public than the Irredecmsble and unknown issue of
certificates by the city and ccmpanes-and the puoc
must have some sort of currency IL Is prooaoe,
therefore that there will be today more M lty IN tne
action of the banks and that al checks Will De pad IN
bank notes, and coin paid for sums less than
So Tie depreciation Of tncse bank notes Is
alrt ady about T. ceDt-in other words goh aad s!'-
Yer i xortl five cents III the dollar or nve doiars III
the hundred collars, more than bank bills. Prices
Iltprrs
in the cure new Are adv this difference s seen IN the
stock quotations Of this city, "a compared win New
York. For instance, yesterday Reading haiiroad
shares sold at New-lork at lJ., while at the same
time il was sold here at H.. similar disparity OF
prices was shown in al stocks sold IN both cities.
The prices Of ell other commodities VIII vary a. mach,
brought under the measure oi The currency
except. perhaps labor, which Is always slow 10
move upward and which, with the general prostra-
ton Of all business that necessarily attends ,uspen
sion of specie payments, lessenng The demand TOR
labor viii not, at the present time, advance at all.
Tie PROCLAMATION of the Governor for extra
session of the Legislature not prepared until late
yesterdsv Although the Governor has been all the
time wiling 10 call the extra session, the delay to issue
bis pToclsmaiion we understand, was IN consequence
of a determination the part Of the Executive to
have all the city banks agree on harmonious course
of actor 4 conclusion of tins character was at
lrcth arrived az, and all the banks will come il for
whatever relisf the legislature, IN rs wisdom, may
think proper 10 grant. The Bank Of Pennsylvania Is
now inclrded in the arrangements agreed upon, and
is bills Will be received by all the other banks-that
institution ,tardng ON the same footng, AID enjoying
the same credit as the Others.
Some of the bsuks yesterday, il is stated,
it was dcte7niI to pay out notes, and not redeem
them in coin, commenced dscountng, and IN ore or
two instances is reported extended their accommo
dators 70 quite large dgure. The propuety OF this
course very questionable and will not only endaager
the success c any project OF relief brought before the
Legislature but Is calculated 10 indefinitely postpone
a r. sumption of specie payments. The Legislature
. ~ i ii ,o a~.spd rriaf "a tha hanks withou, .te