Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-10-15

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Character Frst As regards cotton the fall In price
will save millions in the clothing Of our population, apart
from any stimulus il my give TO our export tad :,
while the only sufsrers in this country must Do Few
)eculstve holders, majority OF whom ought ~ 90 N
a position, from previous large gains, TO aHAr par
reverse The bulk of the cotton imported Into thH
o1upuy during the p,s two or three years mas Dsen On
account of the Indian and Egytlan producex and ore
Of adverse state OF tue mas
consisted in the large gums q1red to be remea 70
these shippers in excess OF the amount originally ad
vanced to them by the English mercantile hrms NJ
Bombay en- bills OF lading Even at existing prices
the Eastern grower will in most real 70 aage
prc 20 that the relief 10 to US from the prescott
fall will not be alleged by the thought oil is peiHg re-
suit Of the ruin of other parties. t,T
Next with respec: TO the Is9ic from the Leeds DIS
closures there is eauay small foundation for public
uns asiness although the moment, with the unanmy
usually excited by prominen. topc t1e possoh,y u
banking iusnce fau es lie uPpsrmossi al nlnGs. ~
is q curious fact that, while como persons have been
fuproeed 10 predict all sorts OF evils from the miro
duc.ion of limited liability, tho only two iaiures OF
alarming proportions this year have consisted oil panks
founded on the opposite p'ioclpie. INC opPonen.s
Of that principle always argued that 1t acted as snare
instead of safegua'd, aud every business man must
be aware that If the Leeds Banking O2mpany saa Den
under the law of limited liability It would inseaa OF
being able push on. its endorsements to the e1 ent
L
to mania this for series of year,, have iopno
/ isef uzht to a sand within few months OF ts
/ commencement. In this consideration lies nov tne
| true ground for not falling into vague alarm IL tee
banking aud fnatc, companies lacy started espes
ciaIv the inferior ones-hsd been formed vito uniln
ted aOty there would have been cause to spprsnena
IN ultimate crash that might have involved
/ the entire commercs Of the country; but all wno
/ are couversant with the London money market
can already perceive hos small 1, the power OF mischief
1
/ their business aud the amount OF their paa up
capital are ranoslJ va ched and In abort time mere
IL not bill broker 10 the market sho coud not ts tne
exact VSu, Of their paper, and the safety or neiwse
VITA which 1t nigh. be held IN times Of general prs.
sare or distust Wes!sVsr dagger may exist IN these
dlvscicnE therefore, vii BE- ebert lived, ana The pioea
biiy Il that IN Insa5oss Hhero ihfopsh lssotAnl or
| pAbis mApassnsns break pp may ooeafi sven VOC
s5sFseelseSs vii 10 nsiss md ths' taes hA'e petn
saved from eOmpleie lctr Locking ~ al thess poine
t vii be setn lAA. there nggss Hsa ds Ahen, SPEAK
lrE 10 sroGA eenreFc Al sense, apart nom tss hHe
interests Of share promoters and produce speealatore
the country was ented to look upon It's position with
grsGNr COZ hIencs and Satisfaction. List traders re-
me mber that il large PROFITS are TO be msoe py mer
csuIls or financial business the rate to be PAID LOT
til of the capita! By WHICH that business is carried
on must be p,opoFtonA,ey high that they have only
70 base all their arrangements I'D contracts on iuh
coguitiou of this fact aud that thel, whatever may
be the hrns TO which he rate of ditcount may ge;we
shall simply have to congratulate ourselves that all
CLASSES merchant the agculturist and the capi-
talst-are equal shIrers in the national well beng
TIE LLIEsT BATCH OF TAILUREa
The latest failures reported by the Jura inclrds
Francis Oleugh, large cotton Spectator, with ab-
ties estimated at hslf million serliOg but it thought
that bis direct engagements may no exceed two hun
| ured thousand
Robt. Byrne, stock broker at Liverpool with unset
tied accounts for Gbout Elk hundred thousand pounds
sterirE tu! whose actual deficiency estimated az from
sixty to one hundred thousand pounds.
| Jim Fletcher 4 Co., corn merchants # Lancaster,
with liabilities OF over hundred thousand pounds
serliag.
LisSfoOt Soma, sugar reaners and rice nlllsrs, in
Liverpool
Robert Ba1endell, corn Merchant, of Manchester.
David Kamsden. Wors.ed spinner at Bradford, and
| others Of less iuportlnce.
At meeting OF shareholders Of the Leeds Bank
log COMPANY iGs estimated liabtiel stated AT
/ over egh. hundred and seveDe thousand pounds
sterling, SAd that there deficiency OF over bali
million
number Of failures we're still expected in connec-
ton with this large banking institution, as well as
auo speculltors cotton produce and shares, which
e1hibl. much heavy depreciation IL value.
TIE ITALIAN QUESTION.
| from the Paris Journals, Sept 2s !
A statement that Count de Sir;iges bad comnulica-
| ted tue note of H. Deouyn de Lhugs announcing the
Fsat co-Islan treaty to the Pope aid Cardinal Anto
peLi 10 confirmed. His Holiness received the communi-
cation with great interest, and demanded that copies
should bs lett with him, stating thas ne would examine
them with the attention they deeerye.
Tee Paris Pdtri6 states that n. Sarigee, in commu'
nicatng the Of the convention to the Pope, an
nounc ID that the government OF the Emperor renewed
ia FER of advcs 1t also promised It's assistance in
carving Gus those measures bis Holiness might "eem
necsesaTy 70 adopt in view OF the sta:e OF thin whh
the Pcnti6cal government might shortly have to inset
The Pope AID Cardinal AIT ,nelli declared that they
were not surprised at the announcement, since they
Wero aware the present status quo could not be
maintained forever by the preeeLcs e French troops
and that the Emperor had always a,ted loyalty, ana
had ud Gated that the Intervention was essentially pre-
vision al The Pope added that he had at that moment
no observations make relative TO tie engagements
undertaken by ally in Iet.rsrce 10 France, and
ouested time Tor ma!urer ref action bsiore communcs-
NJ his impression o. the IF, cs the state OF things
mig ut have upol the PspAcV.
Mopseigneur de BonDeuh0se, at the ceremony Of re-
ceiypg the cardinals hst, said: France has always
wished, and still wishes. guarantees for the temporal
sres Them because he kloFs France too we'll no. 10 be
aware of this continent ald OF tse necessity for union
bstween France and the Holy Sac.
siRnor PAcino has accepted the post of Minister OF
Italian Public Works.
letter has been pu 1ished from the captain commando
rp the carbne rs ia the OAstees square the night
OF the 2ls wkch ets.cs that the troops were not o.
dered to fire the people, but that the discharge took
place by accident.
S,nc Turiuefe cidz,ns have published manifesto
stating their conviction of the necessity of the country
t, continue of legal agitation, in orier 10 make
Parliament aware Of the motives for opposing the Fran
col allan Convention Toe mauifes further anrounctE
the formation Of committee to collect subscriptions ID
favor of the sp rers fem the disturbances of the 2l
and 22l September, and to promote petilion to Pr
lament against the F.srco-I allan Convention.
Turin continues Tranquil Tho demonstrates OF thu
municipality OF Turin addressed to the Govenmen, de-
cares that the transfer of the capital TO Florence gn
ss the renuucisoD of Rome, and protests sgainst suct
| a conclusion.
The Italian Parliament is convoksd for the 24.h o
0,tober.
An exchange ptpr tells us that woman in Fannil
| -. Ts1aS reesntlv payo birth IN Il "a bouucinI