The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-02

be the consequences to the trading community what they
may.
There are much pah and abundant sueges.iyeness in
these views Of Mr. Barker Planters factors and banks
may PROFIT by them II they win.
THE PANIC IN GALVESTON, TEXAS.
From the Galveston News Oct col
The alarm that was manested IN this city among some
Of our citizens IN consequence OF the Of bank susen
70 ays New y sudssnv S
brought by yesterdays mail Our bank continues
deem It's notes when presented though the small holders
are now relieved from their fears and pretty well
dersood this circulation is quite limited Checks
paid yesterday promptly and the Civilian learns that the
failure to pay them on saturday was solely for the purpose
OF devong at day 70 the demands Of the class
OF small note holders suchas aborers and Others
who had become alarmed and greatly needed their small
amounts The fact that this bank greatly curtaed its
circulation, and that the paper of r. D. g. Mills is al
most entirely withdrawn from circulation, has left us
more than usually dependent the New Orleans bank
paper as our only medium OF exchange. II was owing
manly 10 this fact that some alarm felt the report
ed suspension Of the New Orleans banks.
COTTON PLANTERS AND THE MONEY PRESSURE.
From the New Orleans Delta Oct 25.
That would be just and wise in those cotton planters
who free from pressing liabilities to withhold their
cotton from market, and await favorable change in quo
atons admits Of no doubt whatever. But very different
principle applies 10 those planters upon whose crops
heavy advances have been prcdicatcd, and large bills
have been drawn which rapidly maturing against their
factors They are involved equally with their factors
is upon the expectation of their crops that the liabilities
were assumed and the pecunary facilities extended and
Tor them 70 refuse TO send forward their cotton 70 meet
the maturing paper equivalent osuspending themselves
and perhaps forcing their factors suspend and thus
detacng 10 that extent from their and their factors
credit and the general commercial reputation OF the city
credit and reputation which are synonymous with
money according to the laws OF the credit system Aside
from moral and equitable considerations, do they
wish to produce such results-do they wish to
lose the ultimate and almost inestmable advantage of
establishing name for prompness and punctuality Tor
themselves and their iactorsf DO they wish TO stu iur
Their conound confusion and invite panic by causing the
suspension bankruptcy OF their factors in detail and
help TO deprive New Orleans and the cotton interest OF
golden opportunity of achieving world wide reputation
for solvency in the midst Of insolvency stability in the
midst OF instability, and thus yindcafng the South and
her Institutions against the gibes and taunts of other
tons and countries which would be glad exchange
positions with her? We know they do not, and feel
assured when they consider the nature and
of suspension OF shipment under the circumstances
toned, that they will not
RESULT OF THE PANIC.
The Charleston Nes OF the 2lth ut says:-We noticed
the arrival Of hundred ant storage passengers,
who from New York in the the steamship Co
lumoia which reached this port yesterday afternoon
This L. peril the advanced guard Oh the thousands that
have been thrown out Of business at the North, and who
vii he driven South in search of employment We may
ton b.. every steamer, well by other modes of con
portion 81 the late arrivals applied Tor lodg
cs at the guard house last night having place to lay
Their heads, and being questioned ty the Mayor this
ploy mt, and Lot having been able to find any were
compelled &c throw themselves on the chatty OF the city
for nights lodging.
Prom the Hartford Tines, Get %e1
large number Of irshmen-a few With ianilies-ett
On the Granite state yesterday, IL consequence u the diff
EQUITY 81 getting work Some of thCm vii ship Tor Ire
land, while the others will ship for Southern ports
already taken quite number South, who il hopes TO
find work.