The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-11-24
THE FINANCIAL PRESSURE.
A GLOOMY WEEK IN SAVANNAH. r.

SAVANNAH, Nov. 23.-This has been the gloomi-
est week in commercial affairs in this city on re-
cord. The total sales of cotton only amount to
1874 bales. To-day there were forced sales of ster
ling bills at So. There is nothing doing in domes-
tic exchanges. Freight to Liverpool for cotton
taken at %@l3-32. Arrived to day ship Milton
and brig Anderson, from Boston, and brig Austria
liza, from Wiscassett, Me.
BANK SUSPENSION,
TRENTON, N. j., Nov. 23.-The banks of this city
have suspended specie payment.
THIS BOSTON BANKS.
BosToN, Nov. 23.-The Clearing. house committee
have recommended the banks of this CITY to dis
count their entire receipts and the adoption of a
system similar to that adopted by the New York
banks.
SUSPENSION OF A CHARLESTON BANK.
CHARLESTON, Nov. 22,-The Farmers and Elk
change Banks suspended to-day.
Heavy Eastern orders for cotton were counter
handed
GOVERNOR BROWN, OF GEORGIA, OPPOSED TO THE sUs-
PENSION OF THE BANKs-REPoRTED SUSPENSIONS AT
CHARLESTON.
AUGUSTA, Nov. 23.-It is reported in Bank circles
to-day that Governor Brown will veto any law
sanctioning the suspension of the banks unless the
State secedes.
Rumors are in circulation that one or more of
the Charleston banks have suspended. Also that
large cotton house has suspended, name not given.
| Both reports need confirmation.
| NEW YORK CITY.
The Tribune of yesterday says The relief mea-
| sures adopted by the banks yesterday have been
| world. The panic is considered to be over. Stocks
! advanced to per cent yesterday, and closed
strong. Cotton and Breadstuffs are also better.
From the Ledger Of yesterday.l
| THE PHILADELPHIA SUSPENSION
The banks of Philadelphia yesterday resolved to
suspend specie payment. The political troubles of
| the country have precipitated this measure upon
them and other banks of the Union, at time when
the prospects of the country otherwise were favor
| able The sectional issues which have been raised
have destroyed confidence between the North and
| South, suspended trade, produced monetary en-
| barrassment, followed now by suspension of banks.
1t is the fret time in the history of our country
that the choice of President has produced conse-
quences so wide spread and serious. 1t needs all
| the prudence, good sense and wise management of
the country, to arrest the mischief where it is.
The suspension, though it has come suddenly
| upon the community, seems to be generally regard
ed necessary in the present condition of affairs
How long 1t will continue will depend probably
upon the action of the Legislature which meets in
January next. Between now and then the mem
bers will be better advised of the course of action
necessary to pursue, for the movements politically,
which have caused the suspension, will then be
better developed. In 1851, when the last suspen-
sion occurred, the Legislature assembled immedi-
ately in extra session and legalized the act of the
banks for six months. But the same necessity
for an immediate assembling of the Legislature
does not exist. Nobody seems disposed to
press the banks at this time and all appear to &C
quesce in the suspension as an unavoidable meas
ure, which favorable turn in the political aspect
OF affairs may render of only short duration.
CINCINNATI.
From the Enquirer Of Th1rrsddyl
Ilme-ollls on the East or South unsaeable
One OF our heaviest shippers in Third street to-
do will Nom Vol laza Al i
ment of -four, but was unable to sell them, though
they were considered strictly first-cass More thar
one-haf the paper offered for discount is refused
and the going to protest of paper o-day that
heretofore has been considered good will very ma
turally produce still greater disrust Failures are
daily anticipated, but the probability is they will
be confined to houses whose business is not so ex-
tensive as to bring about any very serious results
AdVlces were received to-day from new L ofh 10
the effect that all of the Southern banks were
thrown out. The rates on uncurrent money here
greatly unsettled, and the whole BATCH save In
diana, are looked upon very suspclously, ana nan
died accordingly. Wisconsin, Iowa Illinois and Mis-
souri are nominal at 5@10@25 per cent. discount.
In the morning, and till it became generally known
that the Virginia banks had suspended, Virginia
currency was taken at 10 per cent Wheeling and
branches are taken at par.
The demand for Eastern Exchange continues very
large, in excess of the supply. Dealers were draw
ing only for regular customers at g pre- MUM
The rate tomorrow will be advanced to q premium
by all the banking houses the Valley Bank.
The rates on Baltimore are par buying, and %
premium selling. There is but very little doing in
Sight on New Orleans The rates are z discount
buying, and q premium selling. A light counter
demand for gold at M9l premium.
MEETING OF THE RICHMOND MERCHANTS.
A crowded meeting of the merchants of Rich
mond was held at the office of the Merchants In
| surance Company, at six o'clock last evening for
the purpose of consultation between parties who
are indebted to New York, and other points north
OF us, in relation to the rates of exchange, and
other matters of interest to the mercantile commu-
| nifty.
The meeting was called to order by MIR. J. B..
| flcklln, upon whose motion Mr.. Horace L. Kent
was called to the Chair, and George j. Sumner
! appointed Secretary. On motion of Mr.. ]. B. Fer
guson, committee of FIVE gentlemen was appointed