Year: 1860

Actual dec in Long and Short ms for the s6I9


The probability daily strengthens that suspension of
specie payments by the banks will encompass the
whole Union The st. Louis and the Charleston banks
have yielded to the pressure; the latter in the face
boast not three days old that they would continue pay
specie as long the New York banks would pay-end
perhaps they have continued for daily hear of little
pretexts and Of resorts to subeuge to avoid paying
Of coin. Still the New York banks manage to keep
up the impression that they pay coin on demand. While
this continues that city will hold important advantages
over every other section the Union aborng under the
discredit Of suspended banks 1t is present divided
question: whether the banks of New York and those
OF that city maintain their quasi repua-
ton OF paying specie demand. 1t is already discov.
cred that discounng literally does not inspire confidence
and while borrowers have used their accommod aons
bank to wipe out old debts, thus rendering them tenn
porarily more comfortable credit is not bit improved
and confidence in the future is dead ever There
nothing doing and this is wise The same thing is
true here under suspension We are forced to master
ly inactivity as the rule and if collections and pay
shall be made the main business present


good time coming will be very materially accelerated
and financial matters improved.


The St Louis banks, in suspending specie payments
have generally met the wishes of the business men Of
that city The Republican, of the 27th the day preced
ing the suspension thus discusses the question


The banks really in position to do nothing for
every dollar that they put snached up by the ex
change dealers and sent of to the counters the
for specie All these establishments engaged Satur
day night in asserting notes ready be off in par
GELS by their different messengers that all branch
in the State may expect demands for coin, and to
make them good, unless in the meanwhile the parent
banks should determine on suspension of specie pay
ments If they do that conclusion yery soon
it is easy to that the drafts making up will soon
relieve them of three four millions coin vet in their
possession and then they will have alternative but to
suspend We believe that the banks understand theiI
position and that they deferred from suspension only
by the fear that the Legislature may not realize the
But they ought to have hesitation in doing what they
believe be their duty to their customers the CITY, the
State and the institutions which they appointed
manage


The Cincinnati Gazette of Thursday says:


The general aspect of financial affairs continues fayora
be and all the movements in the money market indicate


gradual but healthy growth of confidence. The prom
nent features to day further decline Exchange
and an advance in uncurrent money In the way
business has not yet been resumed though lenders
manifest disposition to loosen the screws moderately
Under the most favorable circumstances will be some
days before capitalists will feel safe dscountng to any
considerable extent In the meantime the business com
muny standing up well under the pressure and NOR,
complaints heard of the sagnaton business than
a monetary stringency. Tomorrow being close holi
day, two days maturites had to be today the
payments, though large, were promptly made. We
| did not hear of a protest of any importance