The New York herald., 1861-12-17
FINANCIAL AND COMMERCIAL.

MONDAY, Dec. l6-6 p. NJ.
Aleading bank in this city has this day ceased to
pay specie, except in small surns, and then only to
its regular customers. 1t expected that all the
banks, both Of this city, and of Boston and Phila
delpha, would have suspended to-day. Twas
known to be the opinion Of leading fnanccrs that
they must suspend within few days, and many
bank presidents had openly stated--what indeed
every one can see to be true-that if suspension
was inevitable the sooner it came the better. AS,
therefore, exchange rose this morning far above
the specie shipping point. and the state of our re-
lations with Europe justified the belief that if
necessary the government would prohibit
the export of gold, it was taken for
granted that the banks would at their meeting
to-day take the step which has been expected
for some time past. This expectation was not
realized. The meeting, at which the Philadelphia
and Boston banks were fully represented broke up
before four p. NJ, without having taken final steps
toward suspension. The members of the Bank
Association arc so extremely cautious in imparting
information to the public that we are unable TO
state exactly what passed at the meeting. Indeed
if some Of the gentlemen present to be credit
ed the bankers spent four hours in light and agree
able conversation upon Indifferent topics of no
consequence whatever to the public. We have
reason to believe, however, that The subject Of a
suspension ,rds discussed, and pretty thoroughly
and that while the ajority agreed as to the
necessity for the measure, and also rs to the cxpc-
diency of not waiting until the public have
commenced run upon the banks for
gold il was thought best, in view of the re-
sponsibilitics Of the banks to their depositors
that the suspension should only take place in
concert with and at the request of the Treasury
Department This is matter upon which Mr.
Chase may have opinion TO eXpress.s II is pos
sib'e that he may take the view that if the banks
suspend it is for their own interest and not for
that of the government. At any rate, reference
of the subject TO Washington will delay action for
several days, with what consequences to the bank
reserve the bank presidents are perfectly able to
judge. BY to-day's bank statementit appears that
the banks lost, last week, nearly three millions Of
dollars, without shipping dollar to Europe. The
whole was boarded. To-day, we presume that the
more prudent Of foreign houses have
placed in their several banks large sums
to their credit special deposits to be kept
in coin; the process viii naturally go on.
To-day, again, exchange rose to ii0i% Ill and
even higher; al the close of business hours the
leading bankers declined to sell ut L. and there
was soac talk Of business ut s. TO the Gl-Il2L
per cent. At these rates there is handsome profit
IN shipments Of specie, AMI Wednesdays steamer
will accordingly take out fair amount, to be fol-
lowed on Saturday by another shipment. 1t is for
the bank presidents to decide how long they can
stand this kind of depletion II is for the interest
Of the country that we should, il we can, carry on
the TO it's end without suspendng specie pay
ments. But if this be impossible, as every bank
manager admits in private conversation, the Wis
dom Of deferring the suspension until the banks
have lost half their reserve and boarding has be-
come general, may well be questioned.
The monthly tables Of The trade Of the port of
New York for the month of November were closed
At tie Custom House to-day, and we sabjo;n our