Cooper's Clarksburg register. [volume] (Clarksburg, Va. [W. Va.]) 1851-1861, 1857-12-25

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2a'''4 ''s''S'''., C:LARKsl
lands and. every thing else. going ON At a
J extravag rate, the banks could not bu
be deeply affected in their immediat
means and diliabilities2andIw we now see th
result. o. The bankers have stopped gthei
negotiations, payments land profits; ar
obliged to contract jtheirissues and TO col
lect their debts:aand their debtors mus
fail or fall into the hands of brokers. Blu
yesterday the demand was for money L
begin new business and to undertake new
! enterprises Of speculation, aud any sort o
medium would do;i and to-day the de-
mand isestronger still for money. but it j.
for real money, and no other will do2 &c
pay of old, debts and settle old transac:
tions. The diference&between' the tive
demands for money will now be felt and
seen, and will know whether gold has de.
preciated or not in value, and whether
specie can be long or far departed from
as standard. From the report ON the
condition of hthe banks we may learn
some important lessons. ~n
The condition OF the banks Of the Uni
ted States must be looked to. as they ex:
isted on the lst January. 1857, the latest
date of which we have general reports, in
order to judge justly of the course pursu.
ed by our own banks in the present re-
vulsion. a @... ..a'" .gL.a 1;I
There are thirteen principal centres of
trade. controlling the financial and COM
mercial relations in the United States.
Two are primary, national centres-the
one the importing. New York; aud the
other the exporting centre. New Orleans.
The others ell are but satellites and se-
condary as compared with these. In the
northeast. we have Boston. Philadelphia
and Baltimore. In the southeast,
Charleston, South Carolina. Savannah
and Mobile. In the northwest. Cincinna-
ii. Chicago and Buffalo. and St. Louis.
On the Pacific, San Francisco.
The centres of Boston, New York,
Philadelphia and Baltimore, In the north
east. operate upon an active commerce,
and large mining. manufacturing and
agricultural interest. The centres Of the
southeast and south operate upon the
export commerce and upon the planting
interest. The group OF centres in the
prong of the Ohio and the Mississippi op-
crate upon large agricultural and mi
ming interest, upon some manufacturing
and upon the lake trade. St. Louis ope>
rates upon large agricultural interest
aud the trade with the Indians and Santa
Fe. San Francisco upon the Pacific,
commerce and mining. ..."a .a i
And the striking fact is exhibited that,
h.n[ ~ A ~ -.
and Ohio front States. slaveholding, tobac.
60 growing and btesdstuf producing. ag-
ricultural and grazing States. full of iron,
coal and copper for mining. Virginia,
North Carolina. Tennessee, and Kentucky,
have no centres Of their o10n. but are depen-
don't upon centres around them, north and
south. east and aOest! And 1 propose to
generalize the facts reported by the late
secretary Of the treasury up to the lst Of
January last. in order to show the effect
Of the operation OF these centres relative.
y upon States with and without them, as
by the relative condition OF
their banks. .i
- r. T. +
AS compared with New York, their sur.
plus is 81 to 4 per cent. With Massachu.
" W @H9' " I'LL Iue I"o ConOln~
ed, as 63 to 81. With the Eve New Eng
and States. without centresas 81 to 32
With New York and the six NegRdsyIya:
States as I.2.tG as 12 to no surplus
y Total means ovsr deficiency Of immediate
Means. With New Jersey and Delaware,
IS ito less than l l.2. With Penn
ylvania, Maryland New Jersey and Del
Iware combined, as L. e is to less than
10 surplus AS compared with the four
States NTH centres, Massa-
;husatts. New York. Pennsylvania and
Maryland. as 6 1.2 7. Aud as com.
pared with the whole 1 northeastern
cent only of a surplus of total means over
heir deficiency Of immediate means. This
shows that this group of States has un.
loubtedly large proportion OF the bal
ance due by the great centre OF New
Y ork. and that in their means. individual
y and collectively, they are far above the
average strength Of the States with which
they trade, and that the balance Of trade
is in their favor over large population.
And the whole comparison shows:
/. That the capital employed 10 the
trade flows to the centres.
g. That it flows there in spite Of the
balance Of trade.
5. It shows that this very fact of bal
snce Of trade in favor of the States pro-
duOing the raw materials. against COM
merical centres. instead Of being strength,
is a weakness in times of money pressure.
And
4. Above all, Il shows that the best de.
fence State or people can have against
the tax OF paying exchange to centres all
around them. and against the danger and