The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-24
,e,on tbe entire trouble win disappear, and We there
fore think no further scon should Dc TAKEN a. present.
IN. I.nltfn az Last evening remarks

Of 1887 The banks strong and abundsntly aolo TO
have been thought ne essary for he banks Of Pha
phs 90 follow the example Of those OF Baltimore,
Washington and Virginia. We trust may prove advan
been but little excitement attending this suspension,
thus ras,ng most siuguary with the panic Of 1867.
The Ledger Of to-day says
All the banks gave specie for the I've dollar bills, and
the counter OF the Bank OF North dollar
should b. casbed. Al the Phil.delpnia Bank pre-
them dc was handed specie for and the others re-
turned to him. with the that he should not sacti
there unusual number of ave dollar bills present
cd for reden pton ss was generally known that specie
would be gwen tor them, but IL lid not assam, the
character of run upon The Institutions.
The Baltimore Patriot of last evening says
The Suspension OF the Baltimore banks, resolved upon
last evening, lie which however much may
regret the FAC; the cause forced upon them a. the
only etep that could tn mercantile community and
themteyes from panic The suspension OF the banks OF
Virginia whence large share OF the means OF payment
70 haders comes rendered this STEP already pressed
upon banks by tie action Of that political party which
has always been their and the enemy Of com ner
cal credt-n inevitable. We have every hope tina, there
win be 10 Gdyaatage takea OF this necessity enlarge
upon rcdeen able paper and that this step 10 simply
temporary means OF protection against rum py mat psv
be shortly elected from rIc the banks have already To-
day granted 70 thc mercantile c,mmuniy Toe rehi ana
extension which this measure pcfm6
The Baltimore american remarks:-
Our baIks We are told are In the strongest position,
and have hitherto curtaed their sccommoc atom only
fer the purpose Of preparing for drain upon them which
might occur at time. There |. no real scarcity Of
money real change in the value Of substantial secur
for the last Two or three days has been next to
impossible TO negotiate loans upon any sort OF security
very little addition the burthena very short delay ia
this relief mcasure-would have done immense da mage 10
commercial interests, while no possible good would
have been secured.
The Richmond Enquirer has the following edito-
rial comment upon the Richmond suspensions:
The intelligence OF the prompt step Just taken by our
bank cannot fail to receive the gppooa
ton OF every intelligent thinker in the Common cath.
In the present condition OF the interest
doubt thai continuance the part OF the banks 10
issue specie would have resulted not only In the entire
removal u all the specie from the vaults OF the banks,
the consequent SERIOUS damage to all property IN
teres,s but in the enre transportation Of specie to
the Of the Nor ihern banks wh;h would undoubt
eddy suspend depletion ard their repeiion
should be fully effected, thus catching completely
under the dea fall Of Northern absorpve predominsnce
II must aso be remembered that there grave political
wsu purely financial and commercial reasons
operating a. present 70 forbid the propres Of permitting
euc traI SER OF southern specie 10 The vaults OF
Northern banks
The Washington star of last evening remarks:-
Yesterday the Baltimore banks resolved to suspend
already been compelled to follow their example Had
they hesated forty eight hours In doing every specu
lstor Kho could reach washirgt By railroad in that
time with their notes in hand would have drawn specie
for them putting Is ont Of their poT to aid their
regular business customers to the extent Of dollar in
these unsettled times We need hardly add that lack Of
had nothing whatever 10 do with this bank action
here, ss II reyer w@ Ia greater abundance In washing
ton .Asn At present. The city brokers continue usaa
10 regard their balances as specie ana oil n trade 10
Washns will doubtless be ape 10 obtain sufficient for
their legitimate eusness purposes without any sacrifice
Whatever. far perceive, every busiaess
10 Warrington rejoces that our banks have thus
the Of The community g true inseres,s 40
seriously nronaced by state OF things financial ese
where. Tho banks OF Alexandria suspended yesterday
hearing The OF the Suspension Of the Richmond
bankg
None Of the Georgia banks have as yet sus.
pended, but the Savannah Republican recommends
that that course be Immediately adopted. We
quote from that paper of the Goth
II the Carolina banks can suspend and we csnnot
will import specie At cur expense for their bsne
~ for they win gather up oil our currency and send
In for pton-taus restricting facilities while
fory ing herselves and attracting 10 their cities the
commerce which belongs 70 our own We repeat sgan,
II not positive necessity for our banks 10 suspend but
Il is neccsrty the people that they should do The
constant daily appeals maize TO them are Of character
stats ina, rcfsas must made II they had ,hi, power
20 suspend q moments notice. 30 that the Carolina
hanks could have no Advantage them they could
their money cut FOR 30 long there drain
supply the specie beyond the wants OF their own trans.
actions they are IN spleniid condition 70 meet Bat
Of the question to suppose that they Will attempt H.
The Boston Ttarelcr says
The New York banks may vote rs much rs they please
to extend taer discounts 70 I've or ten millions but they
car perform no promise unees they also sGspena:
,hsn with che aos,cste oreh.ass. s-ers ~ ana
eGoui 70 obtain much paper tina. win be safe for dis
wide margin being aired for depreciation and
losses. Although there - no foreign demand Tor goii
currency and credit be kept uost In times OF civil
con motion which IL perfectly safe Ia peaceful times
The Cincinnati Gazette Of Wednesday, November
81 after aluding to the bank agreement here 10
purchase foreign exchange, remarks:-
In our market matters comparatively quiet.
There no exoemont, except far as 1; ID csuret b.
fluctuations in uncurr,nt money. There 10 no great
loGrs for The reason thai " IL known - DO
nxi 70 useless 2 apply b.aser; are u onmier,so's
different position for the present they are doing oil
they can jndciousy TO Assist tnoee o. TIER customers
not ducountng Currency IL plenty, and the supply Is
accumulaing Rates Of interest In outside crc e are
hardly quotablc II Is difficult % sell paper al any price,
an enders gCacraly get heir prices. The RI gcar
houses 10 charge their customers over IL per cent,
but this B no ncaton Of the present value OF money.
We hear Of little trouble Ia commercial circles Coec
tons heretofore have been good but they are nos begin
nmg fall on, and no revival 70 DO expected until re
turns received for hogs.
The Cincinnati GGzette furnishes the following
record Of action in Pi.tsburg:-
The Select and Com Councils OF Pitsburg, In ord~
protect the homo creditors OF the Corporation In view
IL the eus reodng against the oily for int
res on railroad hones several Of which % be tried
a. the present term Of United siatee CrcuiI Court
ard deliver 10 Thomas Bakswe John Resell aud JOHN
Murray, mortgage any 90 all OF The real estate
.Se ane n n ' ave hsSdroi ,Sousana dosrs IN
trust for the benefit OF The legal holders Of munle
pa obligations or certificates heretofore ssed for PR
poecs 81 city water osa, work - the same are
new registered and forts IN the book o. "cty ooga
tors u the Comr,roer's tficc. The hayor Of once
under proper legal advice, executed the mortgage not
wnhrtandnga formal protest from Joha X Ham poor,
EIq who Is attorney for kessrs. oelrch Co. Of Nc~
lo,k loles ccupcr. nom issued bv the
r,ou, ralrcad oeur anies amounting 70 i.icc, me re-
sut o. Tits mortgage VII be W leave the payment o. rail
road obligations 70 revenues dcrvaoe only from droc:
rarato2 The municipal bonds older than the rail-
road btds ard the effect Of the action q Cnugc,-f
have ary legal eject At ais W mske the holders Of the
nrntrf .
railroad tcrds.
Tie following were the biie for the sale o. Penn
sylyania State Elves, as received by the Commits.
sioners Of the Sinking Fund on Tuesday, In re.
spouse to their advertisement FOR the purchase OF
one huadred thousand dollars Of the State loan.
viz
Georges perrsr....s........s.....S1o 600 ~ ~ "
j. r. Hutchinson. 90 eco ~ - %
10. ss.s...s...s.......s oV.OVV ~ ~
Lcub y 200 ~ ~