New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-06
CANADA
THE wEATHER-THE BANK QUEsuoN-RECIP-
ROCITY.

THE WEATHER-THE BANK QUEsTION-REC1P-
ROCITY.
From Our Special Correspondent
OTTAWA, oct. 81, 1867.
At present we are enjoying most beautiful
weather known IN Canada for years past The Indian
Summer usually comes later and after frost or
fall Of snow, and yet what having bears "A
very close resemblance to It, We have the golden
haze, the same warm sun, and the same peculiares in
the atmosphere which supposed 10 belong only 10 that
period. All our soldiers, both volunteer and ocular.
have taken advantage Of IT, and every day Of the week
occupied by rifle matches. games, &c
The question which now occupies the most prominent
part Of public attention il the question Of the soyeIcy
OF our banks when inc Commercial faled, from va
ucty Of causes u nearly carried several others with IT,
Chief among these was the action taken by the Bank Of
Montreal. Owing to what Is now stated TO have been
misnterpretatiOn OF instructions from Headquarters the
managers Of tine agencies at Kingston Belevile, and
Bank Of Toronto. the Bank Of Commerce. and the Royal
Canadian Bank which step created such panic among
certain class OF people that rush at once made to
exchange notes Tor gold Some individuals had such "A
horror Of bill that they refused the Government
c2ai iehdcrs American silver which has so long been
considered nuisance by businessmen consequently
rose in value and has been in greater demand since In
order 10 quiet excitement the Government clegraphed 10
every part Of The Province that they would receive the
notes OF all banks the Commercial and Bank Of Upper
community that this suspension was allowed to take
place when the writing of of portion Of s capital would
nave saved H. ana all classes VIII rejoice 10 hear any
arrangement being made by which 10 would be enabled
10 reopen ia doors and IS confidently anticipated that
during the present session an act will be passed which
will enable 10 do II is rumOred IN financial circles
that the Merchants Bank has offered 10 buV te sock M
valuation the price generally stated being GO per cent
There is doubt but that both bin holders and denn
will be paid IN full and should the above arran,,e
mcnt be elected large per centago will still be len for
the shareholders. AS matter Of course The nresent
management which has effected such ruin nnst hc
changed and more cautious placed i'm their nosi-
lions The course pursued by the Bank of Montreal has
OccasOned much uneasness, and last light depuat0n
from the West arrived for the purpose comforting with
the Government A Cabinet meeting is now being held
for the purpose Of considering the question
The Reciprocity Treaty has not engaged the attention
OF the press for time past Yesterdays Times how
ever, in article the speech Of the Hon Mr. Mitchell
at Quebec makes the following remarks:
The revival OF reciprocal trade between Canada and
the United states is occasionally alluded 10 In both cOnn
tries and the hope 10 be- gathering strength that
some day soon renewed efforts VIII be made 10 secure
new commercial treaty. Some parties in the United
states have had the candOr 10 confess that the abroga
ton OF the old treaty mistake. and that new one
might be made that would be advantageous to the inter
ess OF both countries. But do not think that the
Americans ieel very warmly upon the subject, that
tney are nIeY 10 take early action toward renewal
thc intimate commercial relations which formerly sub
sisted between us. They much distracted with
constitutional questions; firmly welded IN protection
list theories aud so well weighted down by taxation that
u Will be very hard 10 persuade them Of the fact that
they are losing infinitely than Canada by their
shoftsighted exclnsiVaDess. They may not yet have
fnly realized the other faet that the starving process