, 1864-10-02
rtsAnCNsa. AND aHNH8Sl7AL.


Tho patio vtich set In INV daJs since coa.
t!81.s 10 fnesrs.e.. This mornlax the public
Wa ssain stsrs,ed BY tbs sn1ouaeemsnt thas ths
Western Marine and Fiso IasoEaaeo Comp1uY's
Bank bad ta1ed. This eaased tsemsndous panic
among sll classca, and many of even dnr bent bus
nes. men were alarmed, " degree beyond csa.
cepiion. aha various. banking estaelishmauts
wers sosn crowded ty deposdtofe, sa2ef'y destrous
Of wittors wing their balances. a fe* Of tbs
strorsets insti.utiors escaped = se1aro tuH><iIl
the Afternoon, but m,py Of them wtFo Thoroughly
taxed to meet tbs drain. s,mo oanKs ot Rood 70.
puts WIRE forced eA.y 10 the day 70 folnse Tue pay.
mat OF chs cks Tor largo snaoua0 sm hondAy OF
Tuetdsy, while o,hets paid thslf checks tn green
b'ets as long - they eoaaot anu taen
paid out Nev York exchange. This node OF pro-
cedu.r, On The nat Of tbs banks Il, to say tho
iesst, turgula1, but It Wiz deemed the rnostpr
DENT c1usss, under The clrcunstsnfas. Several of
tho bsaks alluded to hAyc large tomttances On the
ws, hou New York, Boaton. and elsewhere. and
- Sunday fortunstsly intetfsnes. they expect to
be Ia In poeition on Monday nexs to meet Ill
,dtmaLds On them. s>r rs.4,.:- a..
eouae ofthe banks IN osder to dad relief sold all
tie Kaste,n exchange thty could dispose Of at n
@1 per cent d;scouns, bus The market was room
lluiseo, II each bsnk hAd enough to DO to project
it-eH
T1v,sd. the eaose Of banking toun there seemed
to be \ pastial cessation ot the demands a. ths
baaes, and increased confidence "aa felt inss tho
lead ng il at ptions could bd able u weather tho
slo,ua. Tbs Eoud business rceu felt easisr, snd
some who BECAME frlghtaned In she ess3J part Of
tho Gay, Ard ehecsed out ihet1 bslaacess returned
them In ii. sfsettoon-
Wfst =. o&h4s day may. bring farth. It Is impos-
stale 10 tell: but Nc 1aet The ~o1ss u oEes- The
hatks generally have the eophdenee 81 tho leading
bn1 ness e1 Of the city. Int II tho tootah co1zss
which wAs pufsged today il PeralAtea In On Mon
day, It nay end IN tlsast1r to al. This panic has
tallen en rs suddenly, md 1t II rot Reasonable 10
suppose that a bank Of depoalt, no matter ho.
strong 1t ma, b, would b aoae to pay out eserJ
dollar they owe In = tiugle day. The caalaess
public mpst not act Ike mob, bot behaTe ltkn
rntrthaLts. Tho banks must bo sustaiaed ~ fxt&s
poasIble. This II tho only way to prevent gen.
trsl ef1eh. .-..
o1e correlation psesenss itself In tho midst OF
III cur trials We sre not cursed by tho m1sect-
}ar toux Eastern currency Ehich waa afIoxs hero
lset Ntttss and spring, nta which the Bsa1d sx
Tfaue ana tho TAlBunx drove home. Oaly lmA
sho how II would be 1t tho present time, with
euch q pa1ic as wiz e1petie1 ced to-day. and 70
have pcsh,lg but Pcrn.3lsanis, Nev Je1.ey, and
other Eastern wildcat issues to fail back e.
Thank God. II our currency IL scaree, Il u ,aia-
able. .:..-.
For Ibis panic, hopeIer, the banks themselves
are In .1as measure responsible. During the
past kix months. in. spita Of repeated eaadoniax
on tho part Of tho TRIBUNE, .msuy Of them hayn
opcuut. ged speculation Of I'LL kiude-in whtsky,
wool; vheat, atoefs, geld. &C., purchased at er
teue]y hivn p1ic<s. till they haye locked up large
postion Of their ueaus in what cannot be converti-
bls except 1t great sacrtdee both to themselyes
ard their customers. Should gold 20 ktill lower