New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-11-22

IucIeate...... &lU9,y2
Dscreasc....... 49,. SI,685,O55 s65s, $50 s35s26sO
The suspensions of banks at the South and West
announced within a day OF two, brought about almost
a panic in uncurrent money and the brokers offices
were crowded day with sellers. The rates rapidly ad
vsnced partly from the inability of buyers to meet the
rush. and partly from the uncertainty in regard 10 the
future At the latest, Messrs Thompson Brothers
quote New-York State and Eastern y cent discount;
Ohio, Indiana and Kentucky, 5 Y cent discount; IL
linois Missouri Wisconsin and Iowa Is v cent dis
count; Maryland and Pennsylvania, az v cent dis
count; Virginia, Moth Carolina, South Carolina,
Georgia, and Alabama % v cent discount. Land
Warrants are unsettled, and nomnally 60c v acre.
Tie rush TO sell uncuuent money has been b. great
that the brokers have had time assert IT, Mobile
and New Orleans if assorted, could be sold at 10 v
cent
Telegraph dispatches announce the suspension of all
tie Richmond Banks, and that at Baltimore uncurrent
money cannot be sold Tie Bank of Commerce at
Erie, and the Ptston Bank, are thrown out at Pha-
deIbia and the weak banks all the country are
slakirg in the wind State and Eastern currency is
coming in very freely at the Metropolitan Bank and
that intttuton we understand requires the guar
antee Of brokers depositng uncurrent funds.
scheme was ncubaed yesterday seal up these notes
Of State and Eastern banks instead of sending them
home for redemption, and Issue certificates upon them
as in 1857 to be used between the banks in settle
ment Of balances at the Clearing House. This scheme
however, superseded by the action Of the banks
this afternoon.
The Exchange Committee OF the Banks have bought
about 1000 at about lO2 and have negotiations
der way for a much larger amount The offerings Of
bile to-day were quite moderate. The difficulty Of
a., 9TH h.t, tlte
eratons Of the Committee aud they will probably be
obliged To- resort to the bankers to till up the amount
authorized The true policy Of the Committee would
be to buy commercial bills Of the bankers, with their
Involvement, paying fair advance for the risk thur
assumed By the bankers. The object Of the movement
we appreleLd is not TO make money for the banks on
tie import of specie but to relieve the stagnaton in
the Exchange market. The bankers know the stand
ing Of Commercial drawers, while the Committee have
to make nun erous inquiries, which cause delay, when
immediate relief is needed.
Tomorrow IL the day of payment for the Govern
ment loan awarded last week. The speculative lots
will not probably be paid for. In the mean time
Treasury notes going in rapidly for redemption and
We shall not be surprised to the Treasury bankrupt
by Jan. 49, 1861 uness Congress nervenes 10 save it.
There was little OF no relief in the money market To-
day. but rather easier feeling in anticipation of some
relief by more liberal the part Of the banks.
First-cass names 60 at 12al5 cent, and good at
1924 T. cent. There il no currency, even at these
rates. Demand loans are y cent, and the supply Of
money is moderate.
The managers Of our banks this morning became
thoroughly awake the precarious character Of their
condition, and held meeting TO consider measures for
tie relief Of tie mercantile classes and prevent
general Suspension Of specie payment by themselves.
scheme was proposed and adopted, subject to the
approval Of an adjourned meeting, to be held in the
afternoon. THIS plan contemplates a general and
liberal expansion Of oane 10 meet the full wants of tie
commercial world-a Committee of five to be ap-
pointed TO whom any bank which shonId be drained Of
its gold could apply and by the deposit of bills eceiv
able stocks, &C., in trust, Clearinghouse certificates
to the extent Of IS Y cent of the deposits
would be ifsued, which certificates are to be re.
ceyable at the Clearing in payment Of balances
Tls practically establishes community Of all the spe-
Gle in the bank vaults and no single bank be broken
long It has good Assets. In the present state Of
foreign trade, there being shipping demand for
gold Can zee no danger in this expansion of loans
contemplated, and if the step had been taken two
weeks ago, much suffering would have been averted
The want Of leading spirit in the banking circle has
been painfully evident and the banks each one for il
eelf lave gone scrambling for coin until the mer
chants ard banks have together been brought TO the
brink Of bankruptcy. We trusi the action OF this al
ternoon has avefted the danger and that the relief 20
he afforded will be sufficient 10 infuse new vi.
ialiy into all the avennes Of trade and commerce.
No better proof OF the thorough fright and enesiness
4 tie bank officers needed than the fact that for the
irst inc since the organization Of the Clearing House