, 1873-09-26

u"o ueclhed 10 make further purchnaeH OF bonuAt
there Was nothing calculated to deprcss. Tho street
WAS encouraged from tino to timn by tho unofficial
nounccmcnt that purchases would bo resumed, but
these favorable stor1ca do not serve to dspol
tho depression which Inns settled upon nll.
Happily there whs not oven whisper that tho Stock
Exchange would open Its doors. Tho wtse Governing
Committee, backed by tho universal sentiment Of tho
prees, kept ita doors ooscd Clearing. House baka re-
fused positively to do han certify large checks
small amounts could 10 easily drawn, but II man
wanted fcw thousands and could not givo gasfacto-
~ proof that ho needed 1t for legitimate business pur-
poses, ho would havo to DO content with cczncation
Of tho banks indebtedness to him.
nEafonsEtEas
The banks hcedcl no individual pleas, hut, deter
nned they set thoir fncos agaast individuals for tho
general good THIS served 10 encourage At Tho Same
time tho announcement Of Richardson to Vermiiyc,
that Government would not anticipate the payment Of
Interest on the bonds Of 1874 created depression aud
dtscontcntmcnt.
On this announcement Presidents Of banks freely
expressed tho opinion TINT they
Musr COMBINE Still FURTHER
to protect themselves and croakars assorted that such
decision must necessarily forco private bankers into
temporary suspension. This decislon Of tho Secretary
rendered. tho Of relief adopted by tho Clear-
ng-aouao yesterday by tho collection and sao Of bons
practically imperative. Willie thcy might hnvo
collected bonds from among themselves thcro WIS no
purchaser for them; the Government had practically
suspended
THE TREASURY ootp sA1r.
too, Tas postponed and THIS, with news from othor
cities, holpcd to roncr the street morbid but inacttyc
This inacion Is nccessIty. Every movement Tina
Tar for rcef by the Association Block
Board or Government haa necessarily decreased bsl-
ncss and tho consequence is that there ia no fuol
for tho anmo Of tho pantc to feed on Aftnr Tim fnv
had worn itself out Ana mn fprther
failures had been announced. TIM feeling hecame
appreciably improyed There wins mt r7,n,nr n,,ont
banking or banker: and tho nano-makora.
and there are not fcw auch who demanded on ocn-
eral conflagration for their pro0ts-returncd home
dt.o,Htcd
THE FINAL nrsu7r
of TIM tav md tho 1,npc Ia +hot N. ,vbo1o ,,+ ~,
been taken out of to bnu1s Of thoso roonlo
who aro readily oxcited md control evonl. ,p far na
they arc comfortable. Tho manaermement Of e.ra ia
now In the hands Of q moro ab]o and aorfoua
class. who sro tho head md front Of our most
substantial banks. TheBo hnva Inf nrfv.o bonkcra
to shift for themselves Two Or three uka
jay Cooko h Co.. olewa h Co.. and Fisk h Hatch
oyer1ouded with doubtful r.wav aocurea. havn arr.
cumbcd Howes Il bfncy nre strono st;,,. and rcton.
inc Tim rnDhd.nra ,f the,r ,o,,o1tors i,,-a ,r,ao
wise suBpeuB1on which vii, nrnhahlv cnoh1a thom to
xes,,,ne Within week. An far tho rcst 1a mint ow,u
to-norrow.
The uneasincaa hns 1o,v c1tcn5nd II
cowyrno,.1 o1no,rs.
een,cnr1v IN ab,nn,r. ~ ,,t, ,,, o,,,s a,,o. .u,
arn comnc,lcd H. .ccant ht,a ~ a-cbana. Tha.o
thev c.nnot convert ,nto orc.nh,cr. o,a hor.o ,ha
Ia danger TINT thu Inren.o vo1nnro NJ hroodstura
wb,ch il nourno tn,o 4ha cIt r.o, tho 1v.st a1 .,s
cotton and auo,r eon,n1 fror, I'm aou.h ,;,f H., a.
tainod horo for want of ovaoba fnda n aora ,hor,
abroad where A renav mnrket mn, oood ,,+co. .v,tt
them. This phase Of TIM 0nancta1 rovuston Ia tnat
beginning tn ho fo,t 1n,caa rocf Ia .oon o,,.,na1
ordpra for con,c,r,,t. fro,, tno 1uo4 49,, e,.r ~,