Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-02
WASHINGTON.
The Postal Isefaroation AZ isntsburs.


The Postal BefaIcatioR az isHtsburg.
WAsHINGToN, D. c., Oct. 1.-The Pres.
ident has appointed Ed. q. Negley post
master at PiLtsburg vice John r. etewart,
suspended under tho tenure Of Office act.
One Good Effect OF sbe Panic.
Special to the Cincinnati Enquirer.
WASHINGTON, Sept. 29.-The action of
the banks and bankers of the District has
had the good effect of separating the sheep
from the goats. For some time past eau
tious business men have been avoiding IN
stitutions which were mixed ep with and
buying the paper sna securities of the ring
which Las disgraced and baukrupted the
District. Even the appearance of alliance
with the ring was injurious. In one OF
these institutions Boss Shepherd, Governor
of the District, was Director, aud several
of its officers held prominent positions I'm
der the District Government. The recent
failure Of Jay Cooke q Co., and Of the
National Bank, both affiliated with the ring,
has augmented the distrust which it is now
apparent was sbundantly justified in respect
to all the ring banks, and the public have
been quietly Withdrawing their money
from them. .,.- --r
Worthless Certificates OF Rotten
Banks for Good Money.
By Saturday last matters had come to
such pass that these weak hanks called a
meeting, to which the sound ones were also
invited, aud discussion took place upon a
plan of virtual suspension. Boss Shepherd
advocated the measure as earnestly as
did the fox In the fable the dispensing
with tails. The sound banks eould hot see
it in that light, but the others went on and
perfected their scheme on Sunday evening.
For cool impotence this is unriyaled. Not
only is there a refusal to pay cut currency
to deposi ors, and q substitution of certif-
Gates, but these certificates may be based
upon the worthless p'per aud securities is.
sued by the Ring, and such certificates are
to be accepted by all the other banks
There is Controlling COMMITTEES, who say
by this resolution, in effect, to the luckless
depositors, ave have got your money, anC
mean to keep it, but If you will only put In
some more money, we will be honest as tc
chat, and let you check on it, Whether
any people will be fools enough to throw
good money after bad IN tiiis way remains
to be seen.
Some Honest Bankers.
The banks that have refused to 60 intt
this arrangement are the old house of Rigg
& Co., The Bank of Washington, The Farm
The National Bank OF The Republic, ant
Middleton & Co. These are solvent ant
continue business as heretofore.
RascaIIy Plot of the Robbers' Ring
Riggs & Co., received deposits amounting
to half a million of dollars, and turn
ed away large number Of others, upon in
formation of plot by the Ring creatures Il
induce number of persons to make small
deposits with Riggs and tue next day t.
form line 10 make run on them. Mr.
Corcoran to- day deposited eighty thoussnC
dollars with Riggs 81 Co., and will undoubt
edly back them to his last dollar agai3s
any effort of their enemies. A draft upo!
one ofthese RIM banks was to-day protested
In the opinion of many 1t is the duty of th
Government to wind up the District bank
which thus refuse to pay depositoTs, thei
case really being the same as that of thi
Fist National Bank, in which Receiver i
appointed.
Special to the Louisville Courier-Journal.
1t does not sp2ear that there is any pur
pose to call an extra session of Congress
| but it is remarked that one of the Presi
| dents home organs came out IN favor of II
| The so-cslled certificates issued by tbs
Ring CLEARING Association are not receives
! by the mercantile community. Tee bank
| which wen5 INTO this arrangement are re
g:rdei as doomed. Nearly al their legiti
mate BUSINESS patronage has already beel
| diverted to the institutions which act on th
| square, and this business cannot be regain
ed. There is talk of forcing these bank
| by protest and suit into bankruptcy, bu
the party alliance is so strong between tn
ring, the District courts and the Admins
tration. that it would be almost impossible
| for creditors to pursue the ordinary lega
remedies. Controller Knox is reported e
be largely interested, either by himself o
family, in one of these city banks. It i
stated that there were forty protests c
notes and drafts yesterday by one notar.
alone. FHFa
The Maryland Campaign.
Reliable information warrants the pre-
diction that there will be decided Demo
cratic majority in the Legislature of MSry
land, and it il generally agreed that Gov
Pinckney While will be chosen Unite'
States Senator to succeed Hon. VIM. 1
Hamilton.
Personal.
Gen. Henry r. Jackson, well known as
member of the SsVanoah bar, and distin
guished in the Confederate military service
is in the city.
Special to the Cincinnati Commercial.
Seizures of Diamonds.
Within the past three months customs
officers have seized diamonds amounting
value to about one hundred thousand do
lars. The precious stones were found COL
cealed about the persons OF men who wen
from this country to South Africa upo
learning of the late discoveries of Iich dis
mord fields there, and who were attemptin
to bring the diamonds into the United State
without paying customs duties.