davidaulloa/AmericanStories huggingface dataset:
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
Amount Of specie in II. Q ountry.

It becomes important at the present time
to ascertain how much specie thers Is lin
the country; in other words, The amount oil
that currency which can not b deprecated
or in any way disturbed BY any explosions.
The specie basis Of the banks IL known to
be about sixty millions, and the inquiry
turns to the amount In general circulation
among the people. On this point the Phil.
adelphia North American ays:-
1--WE have taken the pains, for our own
satisfaction, TO look over the Official figures
for series Of years, In order to approx
mate safe opinion upon this subject, and
they develop somo results Of striking interest
at the present juncture, which ought 10 In.
spire feelings Of encouragement even to the
most responding. Notwithstanding the
enormous depletion Of precious metals dur.
ing the last seven years. Il will BE- seeu that
the coinage In that period exceeds the OK.
ports by an amount almost equal 10 the
whole coinage during the preceding ffsy-
eight years.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
/, BIDDEFORD, OCTOBER is, 1867.

cslcuth Wa becoming crowded wild
fu9itives ftom al parts Of Bengal.
There had been many sharp encounters, %
which the rebels were defeated. Europcsn
achievements were arriving before Delhi,
and tho assault was looked for on the Goth
Of August.
Gen. Havelock, in the second attempt.
reached Lucknow after having had two
more victorious encounters with the rebels,
but the weakness Of his force compelled HE
return to Cawnpore.
"a doubtful dispatch says that he reach
cd Lucknow, the garrison at which place
The garrison at Agra was still secure, but
its condition was precirious. -.
Admiral Seymour has proclaimed the
blockade OF Canton river.
Per Oeerland Mail. Tho Bombay Times
docs not mention tho arrival of General
Havelock at Lucknow, which indicates that
the intelligence from India Is of disas
troas character. 77
A letter from Aboo mys that the King Of
Delhi has offered to make terms, provide
his annual stipend was increased largely,
but was informed that nothing but unoon-
ditional surrender would DO accepted. 1l7
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

vysxosr. The new Legislature OF Yer
mont assembled at Montpelier on Thursday.
A Republican organization was affected in
both branches-the Senate being wholly,
and the House about four. 6fths Republican.
The vote for State officers wos officially can
vassed, and the vote for Governor fosnd to
DO as follows: Ryland Fletcher, Rep, &C..
7l9 K; Henry Keyes, 1850 ; Scattering, 262
Republican majority 1888. Gov. Fletcl,-
or's message was delivered on Friday. In
discussing national topics his remarks arc
emphatic. He says that during tho year
nothing has occurred to diminish the indig.
nation and alarm felt by the people of the
Of the State at tho rapid increase Of the
slave power and tho cxtravagant nature Of
It's demands. After examining at length the
effect of the bred Scott decision, he says:
"When, If tho alarming prostitution of
every department Of the General Govern.
ment to the nefarious behests Of slavery
shall continue, the Supreme Court shall de-
clare authoritativcly, what they have al.
ready forcshadowed, that the slave holder
may bring into the free States his train Of
slaves and hold them there as his property,
Notwithstanding the absolute prohibition Of
Slavery by their Constitution and laws-it
will then, in that day Of the doom Of the
Republic, DO time for Vermont and her sis
tor FREQ States to consider what course they
shall take to maintain and enforce o right
she has never yielded and will never surren.
der-the absolute and total prohibition Of
slavery within her borders"
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
The Elections.

PEyysrLvASIA.-We infer from the
scattering election returns received ofthe
election, through the telegraph. held in
PENNSYLVANIA on Tuesday, that Packer,
democrat, is elected Governor, by the
usual majority of the democrats in tina,
State. The vote is said to have been
light.
ONO. No returns have been received
from this State.
The monetary troubles seems to have
crowded everything else into the shade,
and election news, except from Kansas,
is at n discount.
Chicago, Oct. II.
Huntington, Democrat, $50 majority; Bav-
export, Republican, 200 majority.
Pitisburg, Ohio, Oct. 10.
The lines West are working badly owing
to the rain. The returns received FROM
Ohio are only from scattering townships Us
yet.
Cleveland, Oct. IA.
The following are the Democratic major.
tiles in the Counties heard from; Stark
800, Wayne 800; sandusky 400, Luca,
200, Henry $50, Dcarancc 200.
The following are tho Republican MAORI
ties: Lorain 1888, Medina 800, Huron $50,
Wood $50, Lake 1903, Cayahoga 400.
The Democratic gain is considerable over
the vote Of last fall, but it is not in sufh
cient ratio, as yet, to carry the State.
Philadelphia, Oct. IL.
Complete city returns foot up Packer
q, 900, Ha1lehurst 1900, Wilmot 10, 900.
inround numbers. The remainder Of the
Democratic ticket received about the same
vote. Eighteen districts in Northampton
county show 5000 majority for Packer
Lehigh, 1000 for Packer.
Later.-In Cambri County there Is q
Democratic gain Of 100.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
The Monetary Troubles.

The list of the failures and suspensions
Of the week, published in the last n. Y.
Independent, il transferred to our paper,
would occupy several columns. 1t COM
prises men in all departments OF trade,
firms of many years standing, banks, and
railroad corporations. No part Of the
country seems exempt from this unex'
ampled financial storm, and no man, no
matter how much property he may have
in houses, lands, ships and goods, if he
owes 1.-THE Of his possessions, but what
appears to be in danger Of having his
naino added to the list. How long these
financial troubles will last, to what causes
they are to be ascribed and what remedies
are necessary, form topics Of discussion
in the newspaper press, and in business
and social circles. There is no want OF
property, but a general want Of its repre-
sentative value-money. We have pub
lishcd in another place, items from various
papers relating to this general crash OF
business men. For ourselves we have
little skill in financiering, and therefore
arc poorly qualified TO portray the causes
which have conspircd to bring about this
existing state OF affairs. 1t is pretty APP
parent to our mind, that il our policy Of
buying vast amount Of expensive luxu,
rics from abroad, and paying for it as We
must necessarily in specie, and the Prac'
,iec of importing manufactured articles Of
all kinds from foreign nations, was less
followed, that the country would not rs
j, is now, in the midst Of general plenty
he subject to such general commercial
fluctuations. On looking over the list Of
failures VIC notice that many are set down
as having liabilities from one TO two mill.
ions of dollars. There must be something
radically wrong in the arrangements oil
trade which enable single firms to so ex-
tend their credits and to grasp business
sufficient for twenty men. There I'M
mensc amounts for which men arc liable
show that speculative purposes rather
than sound economical ideas, have OK,
tcnsivcly prevailed and that the business
men in their haste TO get rich, have for.
gotten the real legitimate ends of all bust
ness
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
New York Banks Suspending Specie
Payment

Seventeen banks in the city Of New
York having an aggregate capital Of So
$4,000, suspended specie payments on
Tuesday, and their suspension was fol-
loved by general meeting Of Bank Di-
rcctors, at which il was resolved that a
general suspension should take place on
Wednesday. There was great excite
mcnt in New York in consequence, the
people thronging the steps Of the Banks,
cndeavoring to force themselves in. A
dispatch to the Boston Journal dated
Oct. Is, 10 2. NJ. is as follows:
New YoRK, Oct. l3, lOl-2PM.
The banks have resolved to suspend
specie payments so far as paying it over
their counters in concerned, and to make
all the regular exchanges Of each others
bills at the Clearing House; also to send
u committee to Albany to confer with
the Governor in reference to an extra
session Of the Legislature. The commit
tee leave at noon tomorrow. This is Of.
fetal.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
The Fair.

The Fair and Cattle Show Of York Co,
Agricultural society, now being held in
Saco, commenced on Tuesday last. For
the first two days, the weather was very
mild and pleasant, offering no obstacle to
prevent u large and general attendance
from all sections OF the County. We un-
dcrstand, however, that the numbers in
attendance on the grounds thus far, have
not been large, compared with former
years. The exhibition ut Town I'M
seems 10 be better patronizcd, as the at
tendance there, We learn, has been quite
large.
Tuesday, the first day, an exhibition OF
stock was made. We were not present,
but learn that the exhibition Of stock
was very good, though not large, many
sections of county not being we'll repre-
scented, il represented at all. Wednes-
day evening, We were at the Hall, when
the Reports OF the Committee were read,
but were unable to hear but little, on ac-
count of the noise and busting always
incident TO crowds ON such OCCASIONS
The articles on exhibition there gen.
orally, are higher compliment to the
skill, taste, and ingenuity Of the contrib
utors, than aught we could say Of them
aud in the display of them, the arrange
mcnt has been such as to produce the
most pleasing effect. The multiplicity o.
objects on exhibition on such occasions
renders a notice Of them separately inn
practicable within the limits of our brief
article this week. Next week, We shall
publish such reports of the COMMITTEES
as may be furnished us from which q
more definite knowledge can be gained o.
the exhibition in all its departments thar
We could possibly give in an extended re-
port.
At the present writing, Thursday morn
inc, the weather is rainy, and will prob
ably damptH the ardor Of many who cx
pccted TO witness the exhibition Of equcs-
trianship by Ladies and Masters, on the
,rotting Park of the Society's grounds,
in the forenoon, for prizes, and in the al.
,crnoon, lively and exciting trot ofhOr'
ses owned in the county, for purse ol
$40. Tomorrow, Friday, should the
weather be fair, is also assigned for the
rottiug Of horses, which is to conclude
the Fair.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
LOUIS McLAsr, who died in Baltimore on

LOUIS McLAsE, who died in Baltimore on
Thursday Of last week, was very respccta.
bic member Of that class Of statesman Of
which Clay, Webster, and Calhoun, were
the acknowledged leaders. Ho was o M
tive Of Delaware, and entered tho national
House Representatives in the year 1877,
Us the representative Of that State. lilo re-
manned there ten years, and during that pc
riod acquired the highest reputation for
ability and craftsmanship. In 1897, he
was transferred TO tho Senate, and contin.
ucd to hold his scat until tho ASCENSION Of
Gen. jackson to the Presidency. Soon af.
ter that event, no resigned to accept tho up
pointment Of envoy extraordinary and min.
lister plenipotentiary o. the court Of Saint
James. lie remained in England about
two years, when no returned homo to as-
sumo the oficc OF Secretary Of the Treasury,
upon tho breaking up Of Gen. Jackson's
first cabinet. lie remained at this post un.
I'll 1888, when no succeeded Edward Liv-
ingston as Secretary Of State. He resigned
this Office after one years service. lie re.
NAMED in retirement from this time, We be-
lievo, until lSi5, when he again represented
the country ut tho Euglish court. On his
return home, he became President Of the
Baltimore and Ohio Railroad, which place
he resigned some years ago. He was . man
of o high order Of intellect, and Of unsullicd
personal character. His son, Hon. Robert
McIAns, was recently U. s. Commissioners
to China. rt.. w
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

y shown at the close was ono Of despcra.
ton, which has not been modified BY fur.
Their reelection on the subject The Bank
Managers, day by day, see their way lea
clearly, and are gradually loading them.
selves up with suspended paper. Of which
they have from few houses alone some
81, 100000. Another meeting Of Bank
officials is to be held to-day, but mer.
chants seem careless about its doings.-
They have struggled manful.y against
their troubles, and have been shot down
one by one. They are now inclined to
90 down together, taking care Of them.
selves and allowing the banks to do the
same, as they declare they intend to do,
cost what it may"
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
Latest Foreign News.
SANDY Hook, Oct. IL.

SANDY HOOK, Oct. IL.
Tho Collins steamship Atlantic, from
Liverpool, Wednesday, 30th ult., passed thi,
point shortly after O'Clock this morning
Tho Atlantic brings four days later i'd
vices from Europe and fortnight's later
news from India.
The insurgents still held Delhi and AFFAIR
elsewhere were without marked change.
INDIA. From Delhi intelligence CONES
down to August 10Th, at which time the city
was still In the hands Of the insurgents. A
rood deal Of skirmishing had taken place.
The rebels being invariably defeated but
with considerable loss to the British.
General Nicholson arrived before Delhi on
the 9Th Of August in advance Of his force,
which was expected between tho 18th and
18th, when the number of the beseigers
would amount to IL 200 men. Further re-
Inducements were looked for early in Sep.
tember, which would increase the army to
$1,000.
The accounts in regard 10 General Have
lock, and the position Of Affairs at Gavin.
pore, arc conflicting. According TO one
statement tho General after marching q
second time towards Lucknow. and debating
the enemy In two engagements, found the
rcbols 10 the number Of SO, 900 strongly On.
trcnched ut Lucknow and had to fall back
upon Cawnpore, where, reduced to only
nine followers, no was expecting an attack
from the insurgents. =,
Per eonira.-The Trieste correspondent oil
the London Morning Post telegaphs that
Gen. Neill had attacked and defeated large
force near Cawnpore, and that Gen. Have
lock had succeeded In reaching Lucknow,
tho garrison at which place had been In q
most precarious position.
Agra dates arc to August llth. All 10
the tort were well and amply supplied with
proyisions, but the foroo was very weak and
calling urgently for relief. Tho whole
Christian population was within tho fort.
Bithoor WAS occur led BY 40, 900 mutineers
but ON the 10th Gen. Havelock attacked and
carried the position.
The 9Th native infantry ut Haravabach
mutinied on the seth Of June, and Liberated
an the prisoners. Most OF tho Europcani
escaped to Rgoda, but there 10 every rcasos
70 believe that Major 0skes vas killed.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

EpIroa ARsnTrp. Nathaniel R. Stinson,
editor Of the New York Day Book, Q Demo.
cratic pro-slavery sheet, ("Blsck Bepubli.
can" editors arc not tho only wicked ons),
has been arrested In New York charged with
encouraging illegal gambling. Il seems
that on tho 6rst Of October IN advertisement
appeared 10 the Day Book Of . lottery to b
drawn in Georgia, and attention was drawn
70 II in tho editorial Page; and, Arado1ical
Is IL may appear, the same isue contained q
flaming editorial, calling upon the District
Attorney 10 ass strenuous efforts for the
suppression OF gambling. Tho editor also
took occasion TO ny that police justices wers
no better than State prison felons. The Ds-
tFiot Attorney has taken his advice, and
supposcs that tho editor Of the Day Boob
10 . willing sacriacs.-BoaOn Journal.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

FIRE IN KxSSEBuSxroRr. We learn
that the dwelling house and barn Of Mr.
Nathaniel Leach, at Kennebunkport, were
entirely destroyed BY fire on Tuesday al
ternoon. Fire supposed to have caught
from pipe used by some person smok'
ing in or around the premises. No in
surancc. Loss about one thousand dol
l,rs
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16
Sl29, 345, 54l "a excess coigago.
100000 1000 90 odd total coin.
---s ago before ~
s%a,345,Al "a now In the

~ We were struck most forcibly
with the following item from New York
paper relating to the failure Of the Gen.
trail Bank Of Brooklyn, as showing the
hollow basis on which banks have some
times conducted their business. Wegive
it entire.
The Commercial has the following rel
alive to the failure of the Central Bank,
"Tho Central Bank of Brooklyn, an
institution with small capital, and be-
longing to the younger class Of the banks
of that city, but whose business was con.
sidercd so profitable that its stocks sold
before the revulsion at twenty-five per
cent. premium, has yielded to the pressure
Of the times and suspended payment. AT
half past Q o'clock yesterday afternoon, a
depositor in the Central Bank Of Brook
lyn, to the amount of about five hundred
dollars, drew check for 1925, payment
of which was refused, Application was
immediately made to Judge Birdseyc Of
the Supreme Court, for an order to show
cause why the bank shoald not 60 into
liquid ton, which was granted, and made
returnable at 10 o'clock this morning,
whcn;;Mr Copeland, President Of the Bank
testified in substance as follows:
The Bank Capital is 100000
Circulation 10000
Deposits 100000
Specie 1000
Discounts 10000
We have no funds to any extent de-
posted in other banks. We are indebted
to the Marine Bank Of New York $685.
600, which bank holds our paper As col
lateral to the amount Of $4,000.
In the savings department there arc de-
posted $4,000, whinh is included in
the 100000, above mentioned; We have
no other resources than the DISCOUNTED
paper with which to pay depositors, and
the main part Of which can not be realized
short Of two or three months. The re-
sources being unavailable under present
circumstances the bank is unable to con-
tinue its business.
The collections within the last two or
three months have been small. About
100000 ofpapcr becoming due has been
protested within that time"
Now here is a bank with immediate
liabilities Of 100000 circulation, and
100000 deposits leaving only $1,000 in
specie, and its discounts 100000
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

TT The New York Evening Post Of
Friday evening gives the following pic
ture Of the financial condition Of the
country:
"Thc financial condition of our coun-
try is unprecedented. Business Of all
kinds is more completely suspended than
it would have been two months ago II a
hostile feet had anchored in our harbor,
or If pestilence were sweeping over the
land. Our merchants, with storehouses
loaded with goods and Astounding in
every symbol Of wealth but specie, are
compelled to suspend by blocks and even
squares, for the want Of a few thousand
dollars, which no sacrifice on their part
can procure. The banks dare not relieve
them, for every dollar that goes out Of
their vaults, no matter how amply secur-
cd, is pretty certain not to return to them;
while they are dependent upon the for
bca, ancc Of their depositors for every
hour that their solvency is prolonged"
A postscript to the article from which
the above is taken, however, is of a diff.
erent cast. 1t says:
I'VE are happy to learn that several
Of the leading banks Of the city have seen
their way to the adoption of more liberal
policy than they have been pursuing to-
wards the merchants for some weeks past,
and that they have been discounting quito
freely this morning. We have heard Of
two banks which have discounted every.
thing offered them Of an unexceptionable
character, and to large amount. Their
example has been extensively followed,
and an impulse has been given to the
commerce Of this city to which it has
long been stranger.
1t has revived hope that the circula-
ton Of property may be restored again,
and portion, at least, Of our merchants
be saved from ruin.
1t is also reported that the banks arc
providing fund from their common re-
sources, Of some Ave or six millions, to be
devoted especially to the forwarding Of
produce. lf.his plan is carried out there
Is still hope that the prosperity Of the
country may be restored as suddenly rs
it was interrupted"
The Express abiding to the contrae.
ton Of the discounts in the New York
banks, says:
@lf the business Of the country was 50
rotton rs to demand this contraction, the
banks, for their course, will, after the
cloud has passed, be commended for their
action, is sound and rich, tho banks may
rs well prepare to hold themselves ac-
countabie for the disasters their conduct
has brought upon tho community. ~
The meeting in Waverly place last
evening was without result and gentlemen
were Is discordant in their views a. could
we'll be. The only sentiment prominent.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

BAxxs OF BIpDryoRD NOT SusPKxDD!
We mean Banks the Merchant ofoourse
that has not suspended. He has Is usu-
al, large stock Of Dry Goods to which
be is making constant additions which
must invite large share of the trade
Look for an advertisement from him next
week.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

ET Francis Skinner & Co, suspended
yesterday. This is the largest dry goods
commission house in the city. They were
agents of the Peppcrcll, Bates, Vassalbo-
ro' and many other prominent manuiac-
turing companies, and were regarded -
well fortified even against crisis like the
present. The failure is deeply felt by the
mercantile colnmunity.-Boston Journal.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

PORTLAND BANKS SrsrESpED. AT q
meeting Of the Presidents of the Banks
at Portland, on "Wednesday, a general
suspension Of specie payment for the
present, was adopted as necessary act
Of selfprcservation. This course must
necessarily be adopted by all, or nearly
all the banks in other places under the
existing state of monetary affairs.
The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-16

~ E1-Mayor Smyth has just return.
cd from the West and reports, says the
Manchester American, that lands all
through the West can be bought at a low
figure. Farms which two months ago
brought $4,000 can now be had for slsOo
specie payment.