, 1866-12-30

General Suspension Of specie Pay
mcnt1 ut ffavan2-C0usc4 vf tho EFI-
sis.
Correspondence OF the New York Hesa1d.)
HArhHA ne<Awhcr

General Suspension OF Specie Pay.
mcnt1 ut navan2-Cnuscs of the EEl-
liz.
Correspondence OF the New Yosk Hesa1d.]
HAVANA December =.
Oar city Is In a great state OF excitement.
AID regular panic prevails among ill
classes. We are in the midst Of great Ca
lau1lty, and II no prompt steps are taken to
remedy and alleviate the general eiistrust
aud consequent disastrous results, oux CON-
Mercc will be Frustrated and Injured to au
iucaiculable extent The principal cause Of
The suspension Of nearly all Of our banks is
not, a. the Dior 10 enormously states, the
withdrawal Of tuo and Lalf millions from
the yan1ts of the banks, and seut to foreign
countries by unauthorized parties, but the
large amount Of Government Treasury bonds
held By the Royal Spanish Bank. and oe
ment used by the Royal authorities to detraT
the expenses Of the war with st. Domingo,
Mexico aud Chill, aud which the Treasury
has been unable to redeem until row.
:, 4 meeting of merchants and bankers, IN.
h1msc!1 Was held at The Palace on Nouday
last, TO deliberate On the depressed and ruin
ons slate Of our commerce, and the scarcisy
Of money, which Is very embarrassing to oa7
papks, ana VII lead to disastrous financial
results, II no steps are taken to devise means
70 e1iticate them out Of their difficulties.
The only feasible plan presented was that
the Royal Spanish Bank be authorized to
pay cnI dtiy per cent on alt snms, in bonds
and Of which they hold Te1y large amounts
u eoI'ate1ss. Also, that the Royal spanish
Bank should make use Of tie credit
!. enjoys IN Ens1an9 & an1 ~ and the tinted
the bank of Bossier y Co. Suspended pay
meat. This bank Vas the one Organized aud
patronized By all the provision dealers and
wholesale yrocers in uayann, and enjoyed q
monopoly which has given great offence to
thu I ercantiie community not interested In
the iustitutioc- Tht bank received per
centasc oo al saics made On the wharf.
Many Of the dcpositors had been quietly
Withdrawing their funds for the Last tuo
| months. after the Royal Spanish Bank hat
/ rotided 4essrs- Bossier & Co. that they
would no longer be able to discount the pa
| per of their Institution, or Of their patrons,
10 the same extent as before. md 1atelY lad
only done so In small quantities and on hrs.-
elass paper. -
On Friday more suspensions took place,
Baakl where AZ the funds OF ths Regea
Warehouses and. the Bahia. Railroad are
kept. the Bauco de lila, and in fact all with
the exception Of the Gaia de Ahosrsos (Sav.
tngs Rank). the AlIanza and the Roysl
Spanish Bank, which still continues to pay
weather the storm, although it has only
Sa,tE3, ,t51 IL specie in Its y:lults, while they
haTe ct, ,965 on deposlt. and &3,G53, $50 Of
their bills IN circulation. Their assets, IN
case Of the suspension, amounting to
sl3, ~, 763, ere more than sufficient to cover
all their liabilities, and leave a surplus ol
| ever eco to The credit Of the bank
Strenuous eGorts have been made yesterday
to prevent this result. All Of our ptiaripai
provision and s7occry merchants viii sus,
pend specie payments to-day, and ssyet7t
houses who do not rest on 4 very firm basis
will be couI eiled to cloae their doors and 50
into liquidation.
1t is supposed by all our bankers ano pm,
ci1,al merchants that the stts pension viii
only be Temporary. and that tao arrival oI
tic new sugaz crop, and the consequent in.
ciessiun OF funds tu:o the Island, will 5000
Ru, lhinss 10 nSlte. rsft'cula'ls - al ., o
TIC suspended banks hare large sufpias o.
assets. and will be able to resusn" payc.1nt-
| az soon Is rcmitta1ces ef specic arrive.