The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-13

proJuced such general distress ana national weak
ness that the Emperor was glad, shortly afterward
10 conclude humiliatipg peace ut the cost OF MS
fairest Provinces. We have yet TO learn how the
plan will work in South Carolina. For the present
I, will merely have the effect Of causing great
deal II trouble and Inconvenience in that State,
and some loss among outside creditors. The South
Carolina banks owe abou, fifteen millions Of dollars
to note holders AMI depositors, most Of whom re.
side in The State and In the adjoining States They
Ought TO hold over two millions IN gold, besides
bali a million or 80 which they may have re-
ceived from New York within the past week.
Their assets, besides this gold and their rea
estate, &C., consist chiefly Of their capital and Of
cotton bills the value of which depends in \ great
measure on the extent to which the present panic
may spread. In the event OF war, these assets
would be materially deprecated, and tho banks
would probably be unable 10 meet their liabilities.
What effect the bank sus pension al Charleston may
have upon the Northern financial community viii
depend upon circumstances II the suspension is
confined TO South Carolina il cannot make much
difference TO New York. BY refusing to pay the
heavy debt she owes TO the North, South Carolina
may succeed for while in getting gold for her
cotton but this, after all, would soon regulate
itself. The people Of South Carolina cannot
clothe themselves with gold or eat goid when they
want TODD and clothes they will have 10 part either
with their gold or with their cotton. In the mean
time they would suffer all the Inconvenience Of a
deprecated currency, such as are now SO
loudly complained of in Austria. II Is
possible that the Georgia banks may find
themselves compelled to follow The example
NJ inf and 1nt, In ~ hi,,bI
prosperous State, however, snch an unnatural
state Of things in view Of the large cotton crop and
the high price Of cotton, would soon be brought to
on end. The people Of Savannah have credit to
lose, and the merchants Of Georgia would soon tire
az paying an extra two or three per cent for the
at,faction Of not being called upon for specie.
Nor is there much prospect that the New Orleans
banks will lie brought down by the panic. AT the
beginning Of this month the New Orleans banks
held over 80 600 600 in specie, and only owed TO
depostofs and bill holders about $32 900 000 They
must hold by this time over 81 600 600 Of specie
and more Is going South daily. To-day about
$500 600 went South, s20o,o 900 Of which was
for New Orleans. Tomorrow 100000 will
90 to the famo point. Things are already
meDding there. BY telegraph to-day we learn
that sight bills on the North had advanced per
cent at New Orleans. and that the banks were buy
ers Of go day bills. This does not look as though
the admirably managed banks Of Louisiana were
likely TO break in order to serve the political pur-
poses Of the asitators OF South Carolina.
The advertisement Of the Adams Express COM
pany is worthy Of the attention OF bankers, bro
/ kers and money changers.
4 The following was the business Of the Sub'Trea-
sury to-day
Receipts $3.50 sss 81
--yor customs ACKNOWLEDGEMENTS. o, 0o0 90
Observation-Disclosures. sol G5t SO
Il nnl.r-