The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-11-23
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tain sufficient for their legitimate business purposes
without any sacrifice whatever.
AS lar as we can perceive, every business man
IN washington rejoices that our banks have thus
come TO the rescue of the communty's true inter.
ests, so seriously menaced by the state of things
financially elsewhere.
The banks of Alexandria suspended yesterday,
on hearing the news of the suspension of the Rich,
mond banks.
From The Philadelphia Ledger.l
THE EFFECT OF THE POLITICAL EXCITEMENT.
There was rather less excitement yesterday in f.
nancIal and political circles, but notwithstanding
this, no rejecting man can dismiss the secession
movement at the South as of trifing consequence.
1t is not trfng-it is united and therefore the
more impressive A most important feature of the
question is, that there is no opposing element of
any considerable force in the South itself The
states that gaze to the Union candidates large
votes at the polls, well as those that voted large
~ IN favor OF the other candidates. seem to lean
with increasing favor to secession These facts are
apparent to every one willing to look at things as
they are, and each day shows whatever of cpnser-
vatIve element there may be in the Southern States
IL is ualiy becoming more passive, taking open
ground IN resistance to what is characterized as tho
aggression of Southern rights.
In TINS respect, it must be confessed, the aspect
OF AFFAIRS Is much more threatening than it was in
IS32. Then, even in South Carolina, there was
Union party strong enough in numbers to dispute
the supremacy with the Nullifiers and ready to
take the field in arms and put down by force any
attempt to subvert the Constitution of the country
ana IN every other southern State the Union feel
ing wa, was overwhelmingly predominant. Nothing
OF TINS sort IS visible The entire South i an
cry and resentfu and the general current of NH
Tic sympathy in all the Southern States is towards
secession. These things being true thew ought to
De admitted, and treated as facts so momentous de
serve TO De. 1t s not now n time to cavil and dis
pute as to which section of the Union was The fret
aggressor in wrong but if possible try to realize
now much is at stake in the issue, pecuniarily and
socially. The success or failure of the experiment
OF free government, first set up here, and so lone
sustained, should awaken pride, if not patriotism
TO continue it successfully. That is matter which
requires no enforciug.
Inc pecunlaTy consequences of the rupture are
however, more Immediately important We see its
effects all around us. Millions have already been
swept out OF existence by depreciation of stock Sc
chrltles. These are plain and visible to all who
may read and 1t is seriously felt by all who NAV trv
to realize. What is true of the denreciati9n az
STOCK securities, is true of real estate rents labor
and the product of labor. 1t is only less apparent
these commodities because they are less frequent
ly on the market. Stock securities are sold avarv
day, and the sales are reported: but real cstat5a
saes rents, the price OF labor and the sales of the
product OF labor,a not so frequently made public
Little or nothing is doing in real estate but rents
are coming down, rather premises engaged for
business connected with the South are beinC sur
rendered, and will, probably, for a time, at least.
lie idle. '
Labor is also being dispensed with, because there
IS a iessened demand for the manufactures. We
neafu yesterday OF one iron mill in this State that
had discharged about two hundred hands, and
were informed a few days ago of similar action,
by another iron works in this State, and suppose
that 1t will be general, the same cause affects
them all. There is a less demand for iron. and If
there was not, there is increased difficulty in max
ing satisfactory payment for it. SO that it will be
seen the calamity that has now come npon the
country is general-all are affected by it, and lit.
Tie time only is wanted to demonstrate the facts
All, therefore, are interested Unlocking at the mat
ter seriously, and in endeavoring zealouslv to re-
move all causes of irritation and as of first import
lnce' the repeal of all State laws conflicting with
the laws of Congress ~