The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1864-10-11

I
them To remain there upon = false scnti
ment Of negro equality, aud refusing to
permit medical stores to be sent to them,
| the present Administration shows itself
| regardless of humanity and deserving the
censue Of the people" The third pledges
undivided support to the ticket this day
| nominated and invites the corporation
Of all conservative voters Of the State W hv
are dissatisfied with the present Admin
| IStratlOn.
| The Convention was large and harmo-
Nous.
PANIC ~ THE WEsr-RUN UTnN TuE
| BANhS.
The Chicago and Cincinnati papers of
| last Thursday, the 18th instant report the
| grand crash to have commenced in those
| cities. In Chicago, as soon as the banks
opened, run was commenced upon
them, and a scene of the widest confl-
sion ensued. The Chicago Tribunc says
An effort was made by several institu-
tons to sell Eastern exchange, and it was
| freely offered on the street at two per
| cent discount; but even at this discount
little or none could be disposed of, and it
is doubtful il much could have been sold
| at even five per cent. discount This Is
| feature in money panlcS altogether I'M
paralltlcd in the West. Never before
| was it found to be impossible TO sell OK
| change on New York at a reasonable
rate.
Another singular feature of this money
panic is the fact that hitherto the
| main difficulty has been with the eur
rcncy; and the effort made by the public
was to get id Of it. Now it is the very
opposite-thc great rush is to get the
currency. Every success in the field
strengthens the faith Of the people in
grcenbachs.
There was a large attendance on
Change on Monday; but, owing to the
continuation of the panic in monetary
affairs, very little business was trans
| acted. There was a strong effort on the
part of holders through brokers. to re
alize; but as all checks We're refused, and
currency very scarce, the transactions in
produce were Of trltling character
Those Of our shippers and grain dealers
who had orders to buy, and who had
large balances in bank, very generously
refused to check them out, and ttIc-
giaphcd their correspondents that in the
present state Of affairs they could not
till then orders. As for the spectators,
they were entirely ont of the market
Not dollar could be had ot any Of the
discount houses and even the "shont-
persistent" gentlemen. who generally
reap rich harvest in times like thpsr
were completely run out They had no
money. and their checks We're MOI worth
more than the paper which they were
written on to buy provisions with TO.
day.
Taking it altogether, it was the most
remarkable day ever seen in the com
y;ors panic has money been so scarce that
it could not he had nj some ,,ri.... INT
today neither bankers nor money h0-
hers and "ahaycr3" had = dollar 10
lend. Eastern exchange was offered IT
A laruc discount. United States bonds |
Illinois bonds, city bonds, all were Of |
fcred at heavy discount for green
backs" but all to no purpose. OF course, |
in such IL state of affairs, the markets |
were almost completely at a stand still, |
and the quotations. named can scarcely be |
SAID to give a fair criterion of values.
The Cincinnati Times says:
Spec,,lation for the nrasent i cru.hod
and the business has been reduced 70 the
VERY lowest lco;t;m,t,. st,ndard In tI;S
state of affairs the mercantile demand
course but still, as remarked thCr, Is |
owing to the extreme caution Of lend
nfS' an excess 81 demand. Capitalists
'.'u ~ Nov 81 ''i,''l' steurl't, a''Pie ana
and these investments thsy nrnf,r ~
business paper-tirst. because thev are
deemed safest; and second, because they
an oo qo''N'S converted INTO green
W. oro nou n aoononoro;o, o,;,
;ulting from the lcy,ling process. caused
1y the decline IN gold and if the latter
,; ;n pios' pei 'l'''iGI''' a. we Del'e'e IL
' 10, J"''N" w |'N