The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-11-22

| oe proken a1 any moment Dy single State, which
may wish to retire from the Confederacy, by de-
claring its wish to do so, and that in so doing they
should not be molested by the Federal Govern.
| ment.
From the Richmond Dispatch, Nou 2ll
THE FINANCIAL Observation-Disclosures
BY THE FARMERS BANK-PROCEEDINGS
OF MERCHANTS.
The political condition of the country has pro-
| duced the worst effects upon Commerce and Indus.
| try that were apprehended by those who endeay
ored to avert the triumph of sectionalism in the
| National elections. Apprehending this result
mere haa oeen an evident waning of confidence and
security among business men and capitalists prior
| TO the PRESIDENTIAL election. That event brought
| Its dreaded consequences, and they have produced
astrlngency and pressure such has not been felt
| mere Tor many years. There is general feeling of
apprehension and diStrust, proportiened in its in
tensity to the deporable nature of the present ma
tona exigencies and tie uncertainty of their dura
ton, and the extremes to which they will bring the
country. 1t has been for some DAYS evident to all
rejecting men that we must submit to all the in
| conVenIences attendant upon great commercial
revusion, aggravated by the nature of the causes
| winch nave produced the present one. Among
these, OF course, suspension of specie payment by
| the banks, was to be expected. Indeed that mea-
| sure,at time like this is regarded by the CONNER
clai community as Indispensable to the public re-
| lief
| Under this view for some DAYS past suspepsion
OF specie payments by the banks has been talked of
| and advised by influential men. The banks had
been compelled to reduce their discounts to de-
gree which, at a time like this-when men are una
BILE to pay, or inclined to hold on to what thew
nave to meet an apprehended caamity-greatly
embarrassed the business community. Satisfied
that something ought to be done for their relief
the Directors of the Farmers Bank of Virginia
Yesterday determined to suspend specie payments
The following are their proceedings:
AT meeting of the President and Directors Of the
1860 Present-Wm. II. mcfarland, President VIM, C.
Allen, a Joseph R. Anderson, j. Waggoner, Samuel c.
WadSworth, Rd. o. Haskns-
Rcsolced, unanimously That, in view of the dfstrust
which prevails of the suspension of the large money
trade with the South usual at this season. of the pres
sure of the law requiring the banks Of this city to re-
deem the circulation of their branchesa which bears
with special severity on this bank because of the number
OF her branches-spece payments be the present ss
pended and that course of policy be pursued which will
prepare for an early resumption.
~. A. SMITH, Cashier,
The news of this act of the Farmers Bank ex
GtsfH 1Gfvl4taf 4ifvewGg T.bRsiuess men, and there
Virginia Life Insurance Company at O'clock to
consider the subject Horace l.. Kent was called
to the chair, and James l.. Apperson appointed Sc
cretary. After some conversation, it was deemed
best, in order to obtain larger meeting to post.
pone any action until O'Clock, at which time the
spacious room of the company crowded with
merchants manufacturers, and mechanics The
following proceedings then took place
AT large meeting of merchants, manufacturers
and others, held at the office of the Virginia Life
Insurance Company, November goth, 1860, II. L.
Kent was appointed Chairman and J. L. Apperson,
Secretary.
After few remarks BY the Chairman in expla.
nation of the object of the meeting, Mr. John
Howard offered the following resolutions
ResoEred As the sense of this meeting
l. That in view of the unprecedented political cond
on of the country of the present widespread and in
creasng financial strngency and of the strong prospect
of still greater difficulties it the dictate of wisdom and
prudence that the banks of the Commonwealth suspend
specie payment, in time to diminish as far as
may be done, the existing and anticipated evils conse
| quent upon this state of things.
/ in pr1ar that's
ment shall result in any material relief and benefit to
the people, should continue long enough allow
to the great demand for commercial agricultural and
| general business accommodation.
| D. Ihat the suspension of specie payment this day
made by the Farmers Bank Of Virginia manifests on
the part of its President and Directors prompt and in
tegent appreciation of the present emergency and de-
serves the commendation of this community.
The resolutions being read, were unanimously
adopted by the meeting.
On motion of Mr. W. Goddin, the chairman ap-
pointed the following gentlemen committee to
communicate to the several banks Of the city the
resolutions adopted by the meeting: Messrs. Corbin
Warwick, Thos. R. Price, W. Goddn, R. B. Haxall
| and H. E. G. Baskervill.
On motion, the meeting adjourned,
H. l.. KENT, President.
j. l.. APPERsoN, Secretary.
The Directory of the Exchange Bank held
meeting yesterday, and will meet again this morn
| ing at halfpast eight. The Directory of the Bank
| of the Commonwealth also held meeting yester-
| day, and was to have met again last evening at
o'clock On inquiry at the Bank of Virginia at
halpast four last evening, we found tina the Bank
| had not, up to that hour, taken any action. The
| Traders Bank will hold meeting this morning
and also the Bank of Richmond, to consider on
what course they will pursue.
| COMMERCIAL CONVENTION BETWEEN THE
UNITED STATES AND GREAT BRITAIN.
At meeting of the New York Chamber of
Commerce, on Tuesday, Mr.. Lindsay read the
following paper, which be had prepared at the re-
quest of the President and his Cabinet, with view
to calling Convention to settle the questions. A
copy of them was lodged in the State Department
at Washington, and will be transmitted to England
for the action of the governments
SUBSTANCE OF ARTICLES EMBODIED IN A CoNYEN-
TIoN OF COMMERCE BETWEEN GREAT BRITAIN AND THE
UNITED STATES.
lst. Liability of fShipoUners.-To secure national
treatment for the vessels of the respective coun-
tres that the extent of liability may be lin tied
and governed by the law OF the country in which
the case is tried.
ID Rules Of the Road and Lights at Sea.-To OBJ
tain similarity identity in the practice and in the
laws of Great Britain and the United States, with
respect to the rules and precautions to be observed
by the vessels of the respective countries in order
to avoid collisions at sea.
3D. Offences Committed on the High ,Seas-To
make provision for rendering more easy and more
certain the punishment of crimes committed on the
high seas board a ship of one country when that
ship arrives in the port of the other country.
, 4th. Settlement Of Disputes Betoeen Masters and
, Cretcs.-To arrange that disputes which often
arise in the ships of the respective countries may
be promptly settled the arrival of those ships al
, the ports of either country.
5th. DeSertion Of Sedmen.-To agree that the
Courts of the respective countries where the ships
? shall arrive shall have summary jurisdiction over
the seamen of the respective countries who violate
a contract into whey have voluntarily entered, and
desert from their ships.
9th. Shipping Ofices.-To establish shipping
offices at the leading seaports of the United States
similar to those now in operation in Great Br
tain, and to grant to British shipnasters the use
these offices, provided Great Britain grant to Amer
lean shipmasters the use of her offices from which
they now excluded.
, Could not the same code of signals be adopted by
the ships of the respective countries?
Would it not be well for both countries to have
one meridian for longitude?
: The principles named in the accompanying Pa
per No. might be carried into practice by clauses
in Convention somewhat as follows:
W. S. LINDSAY.
SAD CATAsTRoPHE.-A lamentable accident occur
red at four o'clock, Saturday afternoon, which has
brought desolation to the hearth.stone of a worthy
family, and cut off bright and promising lad. Fol
some time past, Chas. Willard, aged ii years, sor
of P. H. Willard. OF the firm of Goodrich & Will
8 lard, wholesale grocers, No. l30 North Second ST.
had saved his money for the purpose of purchasing
; a skiff. The necessary amount having been ac
= cumulated BY the ambitious boy, beautiful boa
was purchased by him. So eated was he at thu
success of his enterprise, that he invited his two
" elder brothers, aged respectively Is and Is years
to accompany him in his boat across the river. Thi
= invitation was accepted, and successfully the lad
traversed the river repeatedly, but their last re
turn trip from the Illinois shore, the towboat Carri
= er, with three barges in tow crossed the path o