Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1857-10-08
Monetary Affairs.

| mONCtOfy AIIdfrS.
We had oped that money matters had
ceased 20 be the leading feature of daily
news, and that financial affairs had settled
down into their usual quiet spot under
monetary" head. But the unexpected
suspension in Philadelphia, Baltimore,
Washington and Pittsburg have again
thrown this subject to the surface of daily
talk. We believe that the storm which
has burst upon the cities named above, is
the same storm that passed over New
England and the West Immediately after
the failure of the Ohio Life and Trust Com
pany. If that be so, we see no reason why
its disastrous effects should revisit the
North, East and West. The determina-
ton in New York is to pay out specie let
come aUhat may. Su, h was private dis
patch of Saturday. The last month has
enabled the New York Banks, and the
Western Banks, to fortify themselves
against any contingency, and we believe
they will 60 through. The great feature of
New York and Ohio Banks, distinguishing
them from Pennsylvania, District of Co
Jumbia and Maryland money, is the immo-
diate security to the bill holder, and this
feature has kept down excitement, and
kept up confidence, and We predict will
continue TO do so, and finally, carry us
through the storm.
So far as many of the Pennsylvania
Banks are concerned they have been i'm
properly extended, but on the contrary
Ohio Banks have been, for months, curtaii-
ing. The New York Times says:
The laws of Pennsylvania forbid the cir
culation of the bank bills of other States,
and all denominations below five dollars of
their own. She has, therefore, no claim
on foreign banks to press to liquidation,
and so far she may be considered as some
what isolated from the general banking
system of the country.
The Pittsburgh Gazette of Saturday
says: - @ ss
One word with regard to the Banks of
Pennsylvania generally. Those of them
that are organised under the law of 1850
are so hedged about with restrictions and
securities that note holders are safe in al
most any contingency. Whatever tempo
rary Inconvenience may result from the sus
pension of any enc or more of them, the
interests of lote-holders are so amply cared
for that the ultimate loss cannot fall upon
them. t
II is worthy of notice, that the pressure
in New York first reached the Banks;
they fortified themselves, and the business
men, TO some degree, were compelled TO
suffer. In Philadelphia the reverse was
the case. There the business men first
felt the pressure and yielded to it. Then
the blow fell on the Banks, but the bust
ness back bone being gone, the Banks
could not gather up. Any one can see
the distinction, and hence there is no valid
reason why q suspension in Philadelphia
should be followed by one in New York. If
New Yolk goes through, Ohio and the
West can.
The latest dispatches show that Boston,
too, stands firm, and we hope and expect
to be able, in few days, to chronicle the
gratifying fact that New England, New
York, Ohio and the West have braved the
storm, and with the temperance of a blue
sky will be prepared to continue a voyage
of prosperity which these financial gales
may, for a time, retard, but in no event
can entirely check Cleveland Herald.
What are You going to do about
II! s
Last fall the Democratic presses of the
Country teemed with articles endeavoring
to prove that; John G. Fremont, (because
he planted cross on the summit of the
Rocky Mountains and was guilty of other
acts equally conclusioe of his religious faith)
was Catholic. They circulated this
species of trash against him, for and wide,
and endeavored TO make political capital
of it in every section where it was suppos-