respSss,.,
TifESpAYj September 20, ias7.
In the name and by the authority of the Common
■ wealth of Penntyltiania, I, Jivss Pou-ocg, Gover
‘nor-of-the 'eaidGammoittbealth :V' ’, - -•-
„ _ >. a i
jSsii.: > ■ whereat, a sijrious linaucfal revulsion has
1 -oicurrci, resulting In the H'lisponsion of specie 1
raytneute bv theßanke of this and other states of.the.
Union, 'and the fniluro or nmrir loug-t.'KtabinilK'dooni
raMetalhottees/leadleg tothd rieetruction of eonticlenei 1 ,
ana to the general embarrassment ami depression of
trade, and threatening to affect disastrously tho credit
of the Commonwealth,- and the great inddstrlaTlnterestt
of the'people:
And whctetts;: an occasion go eXtrdSfdlhirjr requires
prompt and ‘efficient notion 'to relievo an alarmed and
suffering community: _ .
Therefore,! .James Pollock, (ioveruor of the Com
montrealtb of'POnnsyltania, -by virtue of the pos-ers
conferred on mo by the Constitution,'do hereby convene
the General AssOinbly of this OnininnhweuUb, and'tec
quire tho members oft‘3o senate .and Honse.of Repre
sentatives to. meet in tpeir respective houses in the
capltol at Harrisburg, on Tuesday, tho lull-lay of Octo
ber, X.DIS6T, at twelve o’clqck nt norm of that day,
then'arid there to tsku Into consideration, and adopt
each measures of relief fri the premises snthe present
exigency may seem .to them in their wisdom to demand.
In testimony whereof, I hare hereunto eet my hand,
and caused tho great seal of tho' Commonwealth to he'
offlxed, at Harrisburg, this,.fiSth. day of September, in
the year of our herd 1801, and of the independence of'
thttHblted States the.eighty-second,,
by the Governor-' ‘ ' Aupanw; (r. Coktis, ~
... m secretary of tho Commonwealth:.
First rags.— Editorial, correspondence, go
uernl news, arid miscellaneous. 1
rAaß.—Poetry. and « JohnofLan
•aster/’ . . ’ _r
MOVEMENTS 0 F THE PRESIDENT.
llr. Bt'CHAyXji left Wheatland last evening,
on route for Washington.He passed the night
at York, 1 will leave early this morning, and will
reach Washington,about 11-o’cloek to-day*
The President-has had a quiet visit to his
home, which ho has much enjoyed. He is in
perfect health and hub spirits, and met his old
friends .and neighbors .in his' cordial and hos
pitablo •'stylo./'On. Sunday hti occupied his
pew in the first Presbyterian Church, which hq
has held for so 'many years. d
THE CRISIS*
It seoms to.bo gonerolly concoded .that this
Is tho tjmo and now is the opportunily to ap
ply a ; remedy, to our, banking' system. ,Tho
evils wo suffer spring not so; much from the,
banks'as from the unsound.principtys of bank
ing/on which they rest.- Hew guarantees, 1
of no ordinary Character, and reitte-;
diestbal shall not be an ’empty sound and A
delusive, hope, are imperatively demanded.
It is-not for-us, as journalists, to mark out a
lino of action for the I Legislature to pursue.
Butjwo canj nevertheless, advocate the policy,
which our own past experience, the* qxainple
and experietice of,'.sister States, and the wants
andj condition oftho. public: at the present
moment,"indicate’as sound and oxpodiont.
The oonsldprations suggested by, tho prejent
exigency !of ‘affairs relate to—lst, a clearing
house system; '2d, a* sworn statement weekly
(not yearly, as wo' now have it) of tho moans,
and liabilities of; the banksBd, a law. to regu
late, the proportion of-specie to tho amount,
not 'Of mote circulation, bpt of thejdntire lia
bilities ofthebanksy4tb,on increased, specie
circulation, I>y abolishing' all notes under a
certain denomination 5 ; aid, 6th; in due time, a
rcore.radical ohango. in the while system'of
banking than these few heads comprehend.'
.These reforms'would go far, but we fear not
far enough/fo prevent,itrecurrence.of a mone-.
tary crisis like that which now exists. It
would make pnblid; the information necossary
for our.sifety, and required; tpo, by the laws
of trade for its.own, successs and stability.' At
present tho'actual condition of obf banks is a
secret, confined to themselves with quite as
much.watchfuiness is they now keep from their
note-holdors and - depositors' the specie that is
locked up hftheiiyaults'.l ; „,•> ~
Indeed, recent events have shown that our
banks have no knowledge of, the. situation of
cacti’ otbery and that tbey' git: no, information
on tho subject until it becomes necossary for
them to intervene to'sustain those Whoso
mismanagement; ' to use/ the mildest,, phrase,
has compelled ari appeal to them for support.
Theseare erils of no ordinary magnitude, and
the self-reproach with which wo contemplate
them should be the inducement to, eradicate
the causes by which-they have been produced.
Wo' aro most anxteiis, indeed, to go farther,
and we *sk ourselves, by/'what. means . shall
note-holders bo protected, trad how shall dis
counts bo regulated?, ... ...
Shall wo, to 'a certain extent at least, require
that State stocks shall he deposited as ,n secu
rity for; flip payment in specie of 'the -notes
issued by ;tho'.‘Kabks/,o> shall we 1 abolish all
notes under the denomination of twenty dollars ?
These are questions which ought to bo settled.
But whether the evil of tin immediate reform
of this kind ho hot greater than a temporary
tolerahco9fthepresentissuos,isaconsideratlon
that-mast give us pause.' However this may be,
our people arommmmoua iufhvorbf some law
to regulate the line of discounts to be allowed'
to the customers of a bank. It caii nb jonger
bo borne that one,marf, whether; i)om favor
or for : profit, shali bo allowed to draw frbm a
bank one hundred and flftythouiianddollars of
loans, white the. morchant, jhe, njanufaefurer,
the artisan,',is/restrlctod ,tb the
nnaßest.'amoiint - of - credit. - The undue
amount of accommodation given to thb/onb is
just Vo much 1 taken from the, wants oif ,tjie
others. ~If a speculator, for instance, can,by
the aid of a bank, monopolise asinglo branch of
trade,' whom docs ho injure .whilo he is enrich
ing himself?; He injures the consumer (and
among consumers the laboring man feels it the
hardest and thosdenesty'by increasing the
price of the article," He injures also, and per
haps.drives out of business, thatother merchant
of more limited capital, who; for the want of a'
portion of tho" very accommodation that has
been granted to'the/largo "operator, has been
wholly unable to enter the market as a pur
chaser.- - These facta,'which'we uso as illustra
tions to our subject, canupt bo gainsayed. 'That
tho practice is-wrong cannot be denied, and
that tho evil, must boromodiqd is not the sen
timent of a few who aro complaining from a
sense of disappointment and injury, but the
demand.of the ontiro.publta.. The, very stock
holders/thpmselves should, require it, else they
may .find too soon that their, stock will bocome
worthless in thbir hands.;'
At present the 'circnlation of/a bank is
. allowed to bo .three times tho amount of tho
bullion in its vaults. But this is not sufficient.
It is.no security to tho depositors, and it per
mits too great an expansion on too small a specie
basis. ■ It is so obviously inadequate for tho
redemption of the notes of a bank, that our
special wonder is tliat such a principle'was
ever tolerated, . This particular theme is fruit
ful of. ideas, front which great profit might be
derived. ■
Wo will not Attempt now to elaborate this
subject, but wo ato inclined to think that so
long as wo aro obliged to, havd banka, , tho rule
should bo one-third of ono-fourth of specio to
the amount of liabilities, they bo for
notes in circulation, deposits on hand,' or
otherwise. / This limitation would always afford
security to tiie noteholders; and thoy being
secure, thoro could be no,«runs” on. banks,
and therefore no suspensions, whilo depofiitors
would hot tako alarm so tong as the note
holders remained satisfied.
THE PENNSYLVANIA STATE AGRICtJL
. TURAL SOCIETY.
Tillsls the first day of the so vonth animnl
exhibition of tho Pennsylvania, State Agricul
tural Exhlblfiob. The society has secured
the ample grounds at FpweJton, West Phila
delphia, and wo aro .assuredthatevery arrange
tnont hasbeen mado for, the - accommodation
ot visiters, and for v tho display of the .various
evidences of agricultural, mechanical,’ and
manufacturing skill; The exhibition will last
from to-day, the 29th of September, nntilFri
day, the■ kd .'of October.r The weather is so
gonial and healthy, and thecity so crowded with
attractions,*, aud the so ample,
that i?e ’ have no doubt large* crowds will bo
■present. . \ *' '
; ; a. goo» sudGEsxiprt.
[For The press. J .. <
It iipmd that the Governor has issued a procla
mation for an extra session of the: Legislature: . If
this i& so, it mnyinduce hasty and injudicious legis
lation, as their tsesalonmust close onthe-12th of
Ootoberi There are rumors' afloat that the objeot
of this extraordinary session Isto* legalize the sue-'
pensiari of spooid payments by thobanks, and ’ thus
roliovo {hßm from tbo forfelthre' of.thotr charters.
£ do Question, but I sag
goat ih'at it ihoh.&'fiw If pMsetl the following pro
vision''Shouldbe,.xnajlp Y.-_ ‘/ Provided,., ifa th •
notes sfcge/4; or.
fetojo.it fa (lenminfitfat of
twtnty.d<iUsrs t :Qp4 sfalnoi hereofteristtu any
notes ■-than‘:tioeriiy
THE NEWSPAPERS AND THE PRESSURE.
It is instructive to observe the various
opinions expressed by papers of differing po
litics in regard to the panic. The general sen
timent, oven among the most conservative, is
that drastic restrictions ■ and thorough reforms
sro inevitable; and it is a' notable fact, as will
bo seen by the subjoined extracts, that Honm
of the journals, which may bo supposed by tra
dition and inclination committed to paper mo
ney, are now looking to other remedies. It is
self-evident that tho entire system of currency,
founded on credit and debt, is In what may be"
* # transition’ 5 state. What will be tho
Result ~ wo do not pretend to prophecy.
The immediate t consideration is the re
lief of * the cdmmunlty— tho ' protection of
thousands who hold tho notes of banks, and are
dependent on their daily toil. Even in provid
ing for them, however, mere expedients will
not be tolerated. The public mind is looking
beyond tho present, into the future,and no re
medy will be acceptable that is not based upon
sound business principles. The fact that New
York, though compelled to do it by State law,
steadily maintained, during yesterday, tho pay-,
meut of specie on her notes, somewhat in
creases this feeling in our midst. Tho charge
that it is the practico of Philadelphia to run
into suspension on the first approach of a panic,
however unjust it may be, has awakened the
chivalry of our people, and makes them eager
to be worthy of themselves.
We are the metropolis of a State with
mineral resources which should alone protect
us from such a' calamity. But, without far
ther comment, we give the, various and con
tradictory views of the Philadelphia aud New
York papers.* ,
{From tho North American of yoiterd&y.]
We are authorized to announce that Governor
Pollock has determined to convene an extra session
of the Legislature’ on the 6th of Ootober, in re
sponse to a general sense of its neoessity, arising
from the suspension ef speoie payments by the
banks and the pervading derangement in business
affairs. Under the peculiar stringency of tho bank
ing laws of this State, even the partial suspension
Which has occurred is attended by penalties and by
consequonces whioh, unless promptly relieved by
the power from, whence tho charters are derived,
would spread distress and ruin, not only through
this oommunity, but through tho whole State.
■Prom, the nature.of oar system of credits, the in
terests of tho banks and the peopleware so intimately
interwoven that, at a time like this, they oould not
■ be rudoly separated .without inflicting permanent
injury and increasing the effects of a disaster
’Which, with prudence and sagacity, maybe stayed
so ns to be but temporary. In View of the exist-,
ing condition of things, thore was no othor resort
but that which,' after some reflection and a frank
interchange of opinion with man of all parties, bos
been adopted os the wlSestand best, and it oannot
fail to oommand the most intelligent approbation
everywhere.
So long as the banka continued to redeem their
circulation, as they have done notwithstanding tho
suspension,' it was obvious that tho notes they
called In would nob be re-issued, and consequently
' that tho community would be subjeoted to an in
vasion of inferior ourronoy from neighboring
States, for tho ordinary wants of daily life; thus
not only depriving our- own banks of their legiti
mate business, but introducing the bills of foreign
banks, without any guarantee of thoir solvency
whatever, and with wmch tho people at largo have
no familiarity. The practical effoot of suoh a
polioy would be a oomplete suspension of all largo
transactions, and a virtual liquidation of our
hanking institutions, besides imposing anon tho
laboring ol&taes, who aro least able to bear the
burdoD, serious losses for discount upon a depre
ciated onrrenoy. The calamity which has visited
us is undoubtedly serious, bat it boars no compari
son to that whioh was witnessed twenty years ago,
and'whioh was occasioned mainly by an inflated
ourronoy without any actual baas. Thore is not
only no good reason why we should succumb to the
shock, but there is in foot every roason why, after
estimating our true position and resources, and the
substantial products of the whole country, we
should at once reoorer from it with renewed re
liance and energy.
. The first step, then, is to re-establish that confi
dence and credit which have been prostrated for a
time, under tho paralysing effeotsof a monetary
pressure extending through all the commercial
cities. This oannot be done whilo the banks are
compelled', in self-defence, to contract thelr oirou
lation and to refuse 1 discounts. Rolief is impos
sible,' so long as' banks' hold their present relations
to the community, until they aro protected against
legal penalties m the effort to afford it. Hence,
wo repeat, it .was proper to oall the Legislature,
and there is but one voice in tho judgment', that
disabilities may have been inourred by
this suspension should 00 immediately released.
Tho proposed relief is not for the banks as corpora
tions, but "for the people at largo who adopt
banks as the depositories pf their money, and who
use bank notes m the trantactions of trade. It is
therefore distinctly for the benefit of the commu
nity that this measure has been suggested, and wo
hope it will he accepted in that spirit only. In this
crisis the banks necessarily occupy a delicate and
responsible position, oqo whioh may be attended
with great advantage or injury, as its Influence
shall bo exerted, we suppose it to bo true that
here, as elsewhere, these institutions, just like the
merchants,' are in a greater or less degreo offcoted
by the stringenoy, aftid that some have been fortu
nate enough to prepare for the storm moro effi
ciently than others. White this is so, we all know
that no banks in the Union are ‘ ready to answer a
concerted demand for specie, by both bill-holders
and depositors, just as no set of individuals are
equal to any suon exaction in a scale of millions.
They Have done what we have all done, and ex
ceeded their immediate means. It daesnot,become
as or others to lay tho ohorgo to one bank or another,
in this city, or New York, or elsewhere. While
they were declaring good dividends, stockholders
woro shtisfiod, without inquiring the sources of por
oentage. ■ Thoy were hurried on by tho same our
‘ rent fiat swept over the whole country, and are no
more adswerable than the millions of men in the
North and Sodtb, East and West, who oonslgued
thoir fortunes upon its swift Burfaee. Under suoh
qi roumstances,-it is our interest, as it is our duty,
to give and reoeive that confidence whioh will re
vive desponding hearts and circulate fresh blood
through, Oil the aTtones and voins of trade.
[From the PhUadelpbiaTnquirer.)
* The necessity of unanimity among the banks is
so apparent, that it would seem supererogatory to
urge suoh a coarse. They should aet together in
one spirit. Tho impression prevails outside that
hdretoforo tfcero has been loss harmony than was
indispensable under tho cirouinstancos. Wo aro
disposed to stand by these institutions, because we
feel that thoy aro to a certain extent interwoven
with tho.oommon welfare and the general pros
perity. But in order to desorvo ana reooive tho
sympathies of tho peoplo at the present juncture,
they must avoid disagreeing among themselves,
and sacrifice all merely personal considerations
for the publio good. Wo trust that such a day as
Saturday lost will nevor occur again. Tho suspen
sion was intended as a measure of relief, but no re
lief was affordod, and it'only m&do the confusion
and disordor worse. Wo are awaro of the resikm
sibility imposed upon some of our banks by exist
ing laws, But the ofßoers should be prepared for
foal weather as well os fair, and remombor tho
eondition of many of their.ouetomera. Again wo
urge Unanimity of notion, and a more liboral
poftoy generally) Considering the many difficul
ties that were labored under at the close of the
week, all olasses—and.employers as well as the
employed—conducted themsolves with commond
able patience and propriety. They woro perfeotly
willing to submit to the inconveniences of suspen
sion, 'bat thoy were not prepared for the added dis
advantages of tho non-receipt of even bank notes,
Lotus hope that this trouble will be corrected im
mediately. T , .
[From the Philadelphia Horning Times.]
Tux Suspexsiox of tub Banks.— lt is stated ip
one of our Sunday contemporaries that the Gover
nor designs to call an extra session of tho Legisla
ture, for the purpose of legalising the suspension
of tho bonks throughout the State. Our own pri
vate advices aro to tho some effect. This oall will,
however, dopond upon tho advice of tho Attorney-
General. There seems to bo a general desire
prevailing,, both in banking .and business oirolcs,
that some remedial measure shall bo adopted, and
quiokly too, relative to tho finanoial distress now
prevalent throughout tho State. It seems to be
generally conceded that if a law was passed by tho
Legislature authorising the banks for a short tlmo
to pay their own notes at thoir counters, instead of
compelling them to pay gold and silver, there
would bo instantanooas reliof felt In overyolrole.
If ibis idea be founded on correct principles, then
the Governor should at once issue his proclamation,
ond’tho Legislature should convene under h!» call,
and pass suoh a law as that suggested.
Another reformation whioh most bo introduced
into,onr system of banking, is the elearing-houso
system now prevailing in New York. The oonstant
publication of its proceedingsbnlightensthe public
as to the actual condition of the banks. This,
taken In connection with tho publication of weekly
, statements of the condition of loans, deposits, cir
culation, and speoie, keeps tho community informed
regularly of all thftt is transpiring. The commu
nity can then see when expansion or contraction is
going on, and govern thoir action accordingly. ,
luthis State our banks only afford statements
, oqoq a year. Thoy are obliged to furnish them to
the Auditor-Goueral, and ho in turn givoa them to
the Legislature, Through this medium thoy find
their way to the publio. Suoh publication is evi
dently inadequate. Tho Now York syatow ii far
more preferable.
But wo would have another evil remedied—an
evil whioh has prevailed to an alarming extent in
this city, and wo presume over all tho Common
. wealth. We refer to tho practico of our banks in
1 discounting to broken or. professional money'
> .shavers whatever form they assume or under whut
-1 ever name known. It has boen 01.0 of the great
causes of our present financial troublos. Itb&sen
gondorod a moro intensely bitter fooling toward
lose banks whioh havo practised it than any othor
ono cause. .
' We have now a law whiob forfeits thochartor
of any bank whiob, operating through this class
of-men, sends its papor into the street, and shares
in the nsurious interest thus obtained. But we
desire to prevent the loan of money, by war of
discount, to any biokor by any bank, eren wnero
it ]3 On innocent party to the Bhylook tariffs which
usurers exact.' They should, iti every such owe,
be subject to a heavy forfeiture or penalty.
Banks are created to assist tho community in
Us legitimate business wants. They are not char
tered to afford facilities for usurers to fleooo ft com
munity, by watching its necessities and taking
advantngo of them, we do not intend to bo un
derstood as saying that all oar banks have fuvorod
loans to brokers. Upon the contrary, wo boliovo
that most of them have done a legitimate busi
ness, Those who have hot wilt reap a rioh re
ward for their treachery to the business com
munity.
[From the Public Ledger.}
It is muoh to bo regretted that a better under
standing has not oxisted among the banks of this
city,eo that there might hare boonooncert In notion.
On Friday evening, at the adjournment of the con
ference of bank presidents, U was understood that
there woold bo a total suspension of tho paymont
of speoie the next morning. But what woe the
action of the banks when Saturday came? gome
of them opened with empty counters, not,a coin to
be seen, and paying nothing | others paying their
hve-d°l‘ Ar bills, and the Bank of North Amorica,
Mechanics’ Bank, and Tradesmen’s Bank paying
all of their circulation offered; the payment of
deposits being refused by all: In tho face of this
trantof unity the excitement of the previous day
wm revived, and a general and very spirited run
THE TUESDAY, SEPTEMBER 29, 1857.
was kept up on all the banks the greater part of
the day. There was another meeting of bank
presidents on Saturday evening, but wo do not
know that any fixed course of action was agreed
upon. The redemption qf tho circulation by tho
banks is pretty conclusive evidence that thoy do
not mean to pay it out again; and as the law re
quires them to discount only on thoir own bills, it
would seem to be settled that tho suspension can
bring no increased accommodations to tho business
publio* Thoy oannot discount, but will proba
bly agree to mark “good” cheoks on their de
posits, whioh will be reoeived by tho other haulm
In payment of notes due them. Marked chooks
in a short time must bo the only speoios of our
renoy emanating from the city banks, and na
these will gradually losscn as they arc used in tho
liquidation of loans, the stringency in tho monoy
market will inoroaso. It was a fallacious hopo on
tho part of those merchants who urged a suspen
sion of tho banks, with tho idea that it would
afford relief to tho money market. Independent
of the stab whioh tho not inflicts on general orodit,
as a financial movement its effect will bo tho very
opposite of that hoped for. Notes falling duo
may be extended on tbo payment of a per oontago
by marked checks, but this will give no tone or
energy to business, and trade must continue to
flag so Jong as suspension is maintained. In busi
ness, as well as in morals, Philadelphia, until re
sumption, will ocoupy but a secondary position to
any point or city the fcrado of which is based on
coin.
{From the New York Ilerald,]
Many of tho banks in Pennsylvania, Maryland,
► and elsowhoro havo boon compelled to bow to tho
storm and to suspend Bpoole payments. This was
no more than was to bo expeoted from tho charac
ter of those institutions. No banks oonduotod on
ronlly sound and oorrect principles will find them
selves rodeoed to this necessity. Tho banks in
Philadelphia have not, us a general thing, sus
pended specio payments, nor ‘ aro they likely
to do so. Tho old Pennsylvania Bank was com
pelled to resort to this step, bocauso it was
staggering under tho burden of former diffi
culties—some of thorn created as far back as
twenty years ago—during its oonneotion with
the United States Bank. Tho attempt to induoo
the Governor of Pennsylvania to oall an extra ses
sion of the Legislature to relievo the defaulting
banks from tbo penalty of tho forfeiture of their
oh&rtors, will fail, beoauso the directors of those
institutions oannot agree amongst themselves as to
its necessity. The effort, no doubt, originated on
the part of a few rotten concerns, which sook to
bolster themselves up by a proceeding wearing tho
appoaranco of a measure of general safety. Why
should the Legislature bo called upon to grant
thin relief? It was precisely to provide against
suoh an emergency as that in whioh tho banks now
find themselves that tho law was passed whioh it is
sought to repeal. The faot that thoro aro banks
now seeking to pot rid of it is proof that in Phila
delphia, astolaowhere, tho banking system requires
a periodical weeding out of its rotten and worthless
members. Let all suoh ooncerns go by the board,
wo say; their ©xisionoe is only a sourco of danger
and embarrassment to tho oommunity.
,The position ooeupied by tho Now York banks In
this onsis is an instructive example to other States.
Here, notwithstanding tho sevore character of tho
pressure on tho mercantile community, there is
nothing like the panic whioh prevails in Phila
delphia, Baltimore, and elsewhere. Tho roason ef
this Is, that we know our banks to bo sound, and
that wo feel that thero is no danger of thoir being
driven to the necessity of suspending speoie pay
ments. The bill-holders beingsecurod by statutory
provision, and tho weekly condition of these insti
tutions being within the cognizance of all. no
latitudo is left to mismanagement or dishon
esty, to produoo tho distress and oonstornation
which aro rosulting from the suspension of tho
banks in Pennsylvania and Maryland. If no other
benefit be derived from tho storm whioh is now pu
rifying tho financial and commoroiul atmosphoro
than that of demonstrating tho superiority of the
system on whioh tho Now York banks aro con
ducted, wo would hold it cheaply purchased
by even a greater extent of suffering than that
through which tho mercantile oommnnity is pass
ing. It constitutes an olomont of safety for the
future in tho necessity that will bo felt for its moro
goneral adoption.
[From the New York Tribune.]
Tho Governor of Pennsylvania is urged to oall
an extra session of the State Legislature to legalize
(in effeot) tho suspension of speoie payments by tho
banks, and thore is groat roason to'fear that the
pressure upon him from all sides will provo suo
oossful. Ir it does, wo shall regrot it, and wo
think the Governor will live to regrot it. In say
ing this, we pass no judgment on the sufficiency of
tho causes whioh havo induced tho deplora
ble condition whioh the Legislature is to be
called to remedy. Wo freely admi; that a
suspension of speoie payments moy flomotiinca
bo inevitable, and that tho necessity must
plead its own justification. Wo cherish no fa
natical devotion to speoie, and realize that banks
whioh do not and oannot pay it may nevertheless
bo, in a oertain sense, solvent, and that thoir ope
rations may benefit the community. Wo do not re
gard convertibility into specie as essential fo tho
utility and soundness of a currency, provided it be
convertible into somethin? which has a definite
and iudubitable value. If a ten-dollar bill would
unfailingly buy as much food, fuel, clothing and
other material goods, os ton .dollars in specio, or
oven as nine dollars and ninety cents in coin, we
could endure it, and perceive some compensations
and advantages resulting from a dispensation
with the usual requirement of convertibility
on demand. The obvious mischief and pom
of a state of legalized suspension is that
you oannot toll where it is to end nor whon
the bottom is reached. In our State, save in the
oase of half a dozen chartered institutions which
this squall will noarly finish, tho publio know that
thoro is security for the banks’ issues in tho State's
strong box if not in thoir own vaults. In Pennsyl
vania and most other States convertibility into
specio is about the onlv touchstone of v&luo. If a
bank’s plain premise to pay ton dollars in coin for
one of its notes does not mean what it says, it is
very hard to say what it does mean. It may mean
nine dollars in specie to-day; but who can say what
it wili moan to-morrow? And whatpraoticalchook
will sound and good banks have on tho other sort
under a logqltoeifsuspension ?
Wo trust, therefore, that no extra session of tho
expiring Legislature will be oalled, but that the
whole matter will bo remitted to tho now Legisla
ture, to bo chosen a fortnight henoo. Let that
Legislature be oallod togotber in advanoo of its
usual timo, if necessary, and lot it enaofc that all
the banks whioh shall truly and fully resume spe
cie payment,on or before the Ist day of January next,
ana noneothers, shall bo oxemptedfrom tho penal
tiesthey may havo incurred by suspension. Suoh an
act, wo think, would havo a salutary effect; but
ono legalizing the suspension, and. in fact, perpetu
ating it, would do incalculable mischief. At all
events, leave tho matter to those whom tho people,
in full view of the foots, aro about to choose as
thoir legislators. No Bnap judgment.
Since the above was written, wo aro advisod by
telegraph that Gov. Pollook has yielded to the
pressure and docidod to convene the old Legisla
ture. It does not by any means follow, howevor,
that he will recommend a perpetual indulgence for
tho suspended hanks, nor that tho Legislature would
grant it if ho did. Let whatevor is done look to
and stimulate speedy resumption, and not favor in
definite suspension.
THE CLASSES THAT DEMAND PRO.
TEOTION.
If it were possible to separate tho banks
from those who hold their bills aud who have
deposited with them their means, candor con
strains us to say thoro would not bo in this
community tho slightest sympathy for these in
stitutions. They would bo suffered to go into
liquidation by acclamation; and why is this so?
It is simply because, for years past, almost
overy bank has boen used, moro or less, for
tho bonofit of a few, or for tho boneflt of itself.
When monoy was required by the trading com
munity—by tho merchant, tho mechanic, tho
manufacturer, and business men generally—
in times of scarcity or pressure it was not
forthcoming, but whon money, or the repre
sentative of monoy, was plenty and choap,
theso institutions were only too glad to obtain
customers who would use it. These are facts
which will enter largely into tho consideration
of tho bank question within a short timo, and
whon the now Legislature assembles. But be
cause they aro facts, let us not, in our just in
dignation at tho retrospect, forget the honest
debtors and creditors of these institutions .
These classes must bo protected. For all
practical purposes, as we stated yesterday,
the banks of Philadelphia and Pennsylvania
havo suspondod, and thoir charters are forfeit.
There is not a citizen in this community who
does not hold in his hand tho charter of ovory
ono of tho banks of this city, provided ho
chooses to tako tho steps necessary to onforco
tho law. These things show that the banks
aro in a great measure protected from tho rc
sontment of a disenchanted people by reason
that and thousands of men aro In
volved in their operations.
Our duty, however, at tho present, is to abate
the sufferings that afflict tho whole community.
It is for tho banks and those whom they ex
pect to control at Harrlsbuig—it is for Gov
ernor Pollook and those whom ho professes
to load aud represent—to say whether thoir
“relief if measures shall moot tho satisfaction
of our citizens or not. Lot the legislators re
member that outside of themselves and tho
banks, thoro is an immense body of men who
will decide on their doings upon thoir sheer
merits, and who will bo most certain to con
demn any legislation if it should bo dictated
in a spirit of indulgence to defaulting cor
porations.
Pennsylvania Inquirer appeared yes
terday in a suit of beautiful now type—another
evidence of tho dosorved prosperity of a paper
which has sought and found independence and
success by fairness to opponents and fidelity to
friends.
PUBLIC AMUSEMENTS,
At the National Theatre, lost night, Mr. Mur
doch mode his first appoaranoo in this, his native
city, since his return from Europe, where ho
achieved a remarkable and deserved success. Ear
quhar’s comedy of“ ThoTnoonstant,” properly and
ably cut down to a throo act piece, was played, with
Mr. Murdooh as Young Mirabel, Tho greoting las
ted at least live minutes,and tho play was admirably
performed. The best scenes wero in tho last act.
whore, boset bv Lamorc* and tho ruffians, Mirabel
has such a difficult card to play, and tho conclu
sion, whore, with hysterioal joy, and real repont
ance, he admits his errors, and surrenders at discre
tion to Orian-a.
Mark Smith was a capital Old Mirabel. At tho
fall of the onrtnin, Mr. Murdoch obeyed a goneral
call, appeared, and addressed tho audionoe,
warmly acknowledging his senso of their kindness,
and expressing bis satisfaction at the continuance
of their regard and fhvor. Ho porforms Hamlet
this evening. A very peculiar and pleasant farce,
by Mr. H. Watkins, stage manager here, was tho
ahorpiece. The outhor-aetorkept the audienoo in
a roar, nil through, as a victim to dyspepsia,
trying various doctors, and perpetually changing
them. In this ehorfteter alone. Mr. Watkins
would have established a reputation In eccentric
tomedy.
PROSPERITY AND PANIC—No. 6.
New York, Sept. 28, 1857.
Tho difficulties in Pennsylvania, Baltimore, and
other places south, served to augment the soaroity
of monoy in Now York by renewing the fears of
lenders. Tho pressure, however, is less, bocauso
offootive domand is less. It is to be borne in mind
that tho banking institutions are no longer the
sole sourco for the supply of money either in New
York or othor eltied. A largo private banking
business has of Into yoars grown up which has an
important influences upon monoy affairs. The
amount of oapitnl so employed has been approxi
mated in a return of the Treasury department.
Tho figures aro as follows, compared with tho cor
porate hanking capital:
BANEINQ CAPITAL,
Corpora ted. Private. • Total.
Baltimore ....511,202,000 $5,600,000 *10.802 606
Philadelphia., 14.843,000 25,000,000 39,843.000
Boston 31,900,000 20,060,100 42,026.100
New Y0rk..... 02,859,135 41,500,000 10t|359,135
Tho private bank capital for tho whole Union is
given at $118,000,000, and tho oorporato at $343,.
874,272, that is to say, tho private capital is one
fourth the whole. It is also the ooso that in ordi
nary times of oonfidenco, a groat deal of money is
loaned from onemorcantilo houso to another. This
amounts to considerable sums whioh aro not era*
braced in tho enumeration of banking oapitnl, but
which actually compote with it. There is also a
groat deal of money employed byretirod morohants
and othor capitalists in buying business paper of
that class which docs not go in bank. That is to
say, all notes over 00 days, and this capital is em
braced under neither of tho other heads.
It is obvious that this system of private banking
which has become important only of late years,
is ns powerfully affected by panio as is the corpo
rate capital. Hence, whon under tho influence of
tho present alarm, tho corporations refusod to lend
all private sources dried up also. While $13,000,-
000 has actually been paid into tho banks, the
ordinary sourcos of supply have failed. Tho faot that
in this state of affairs very fow important failures
have taken place, ought to bo the most convincing
evidence of tho entire soundness of general busi
ness, aud tho baselessness of tho alarm whioh has
done so much mischief. At the date of the old
bank suspension in May, 1837. and whioh occurred
almost simultaneously in all parts of the Union,
tho difficulty was, that tho banks could not curtail
—>-that is, they oould not got tho dobts duo tbtm
paid. In January, 1837, tho bank loans of Now
York State were, at tho highest point, $79,313,188.
With tho utmost effort to get their moans, they
failed in May, with a discount loan of $74,057,001).
They had in four months been unable to get mtfle
than $5,000,000 paid, and thoir speoio in the same
timo foil from $9,500,000 to $3,000,000. The mer
chants who owed tho banks at that time had sold
their goods all over tho oountry to people who had
produced nothing in return. Land ownors in Mi
chigan woro eating Russian wheat. If weoontrest
such a state of affairs with what now exists, wo
find that the bAnks havo oalled in $22,000,000 in
four weeks, and their specio rose from nine and,a
half to fourteen millions in tho samo time. From
the Ist of January, 1837, to May 1,1838, whon the
Now York banks resumed payments, they made
tho most strenuous efforts to got their discounts
paid, and it may bo useful to see tho monthly
movomont:
MBW TORK BASK LOWS DUBISQ 803F83810H.
Jan. 1837 *39,e05,43t Dec. 1837 $30,324,216
Juno “ 38.484,214 Jon. 1838...... 81,206,101
July “ 37,724,632 Fob. “ ...... 31,137.5*
Aufj. 80.083,076 March** 80,194,662
Sept. “ 35,308,245 April “ 30,720,663
Oct. “ 33,723,576 May « 23,220,648
Nov. “ 31,077,560
Thus, tho utmost efforts of four months, to May
1837, only roduoed tho loans ono and a quarter
millions. Under those oirouinstnnoes a convention
of all tho city banks presided over by Mr. A. Galla
tin, described tho causes of tbo suspension cs fol
lows :
Tho simultaneous withdrawing of the largo pub
lio deposits, and of excessive foreign credits, com
bined with tho groat and unexpected fall in tho
prioo of tho principal articles of oxport, with an
import of corn and breadstuffs, such as had never
before oocurrod, and with tho consequent inability
of the oountry, particularly tho southwestern
States, to mako tho usual and expected remit
tances, did, atone and tho same time, fall princi
pally and nooossarily on the greatest oommeroial
oraporimn of tho Union.
It is useful to recur to these circumstanoes only
to contrast them with the present immense strength
of tho commercial community. Tho public de
posits referred to in 1837, were $8,000,000, due tho
articles which woro demanded and paid. Tho
Government is now daily furnishing tho banks with
gold instead of drawing it. Tho great strength of
tho Now York banks, and tbo aotivity of thoir
loans, roust be ascribed to a considerable extent to
the system of clearings, which has operated sinco
1853, and in Boston during the last two years.
Tho first operation of tho system wont very hard
with the woak banks, but compelled theib so to om*
ploy their funds that they oould always meet tho
balance against thorn at tho clearing house, whioh
bus operated in connection with tho Bub-Treasury
system os a “ regulation” far moro effective than
did over tho late National Bank.
Tho olearing house has compelled oaoh bank so
to proportion ita movomont as to avoid a debtor
account whioh would require spooie, while 4hMVcb-
Treasury has contracted tho goneral movement by
requiring speoio from tho large banks in propor
tion to tho inoroaso of imports. Underthis doablo
action, tho banks have kopt their assets so aotivo
ns to havo them entirely within thoir control. A
more stopping of discounts for sixty days would
giro thorn thoir whole ossots. At Boston a similar
system has prevailed; but in Philadelphia and
Baltimore it has boon strenuously resisted, and the
results aro seen in tbo inability of tbo banks to
moot a pressure which those of Now York sus
tained with ease. Tho assets ot tho New York
banks are baeed upon tho indebtedness of the in
terior, whioh pays up reasonably well, and the
banks being now strong, aro in a position to
carry over tho heavy payments of October, and
the lapse of timo places all at case. Tho general
position of Now York to other cities is the samo
os a largo city bank relatively to tbo other oity
banks at the oloaring house. Having curtailed
vigorously, It has become tho creditor, and those
oitics whioh havo not gauged thoir bank credits
by tbo samo rulo of prompt settlement, enoounter
disaster. The safety of Boston is, that she followed
promptly tho New York oxample, and tho lesson
will probably bo fruitful olsowhoro.
There is a class of roasonors who are determined
that thoro shall bo ft vory largo advorso for
eign trade to aooonnt for tho prosont panio.
Thoy urge tho oxlstenco of tho panio as a
proof of tho imports, and when it is shown, from of
fioial figures, that thore has been no excess of im
ports, it is replied thon, “ tho existing pressure is
all ndolusion.” ' Wo showed, rcoontiy, that in the
throe years ending with 1837, tbo exocss of imports,
including specie, was $113,000,000, or thirty por
cent.; and that in tho last throe yoars tho excess of
oxports has been three por cent. To this it is objoot
ed that a part of thoso oxports has boon apocio, tho
product of tho mining labor of 200,000 Califor
nians, and, therefore , we owe tho balance in our
favor. This is a system of reasoning a little strange.
Beoauso we bavo paid our debts in specie, there
fore wo aro hoavily in dobt! Lot ns review thoso
figures. The import and oxport of epooio for the
throe years onding with 1837, with tho production
of tho United States mines was os follows:
U. 3.
Import. Export. Production.
.$13,131,447 $0,477,775 $093,600
13,400,831 • 4,324,330 467,000
, 10,516,414 5,076,240 282,000
37,048,742 10,776.350 1,447,600
Tho spocio movomont for tho three years onding
1857 is as follows :
U. S.
Import. Export. Production.
$3,039,313 $50,247,313 $19,100,100
. 4,'207.032 45,745,495 47.878,441
.12,401,793 09,130,022 40,101 000
1655.,,,,,,,
1856
IS&7
20,329,213 171,129,750 143,079,641
This is tho aotnal prodnotion of gold only in tho
United States mines. Thus, for 1853, California
producod $47,500,411 ; Oregon, $10,750, and tho
Atlantio States, $328,280. Now, if there is any
roason why that production of tho gold minos
should not go abroad, ns woll os any other surplus
commodity, it does not appouron tho surfaoo.
Tho nature of gold exported in the lost throo
years was as follows:
Total Foreign
Coin. Bullion. Domestic, Coin.
1855.. $10, 842,423 $£4,114,095 $53,013,418 $2,290,125
1850 ...15,458.337 28,080,040 44,148,279 1,698,200
1857.. .29, 077,343 30,101,200 60,078,352 9,058,070
Tho domostio bullion is bar metal, liko bar iron,
and it Rolls in tho Now York market at i discount,
bocnuso it is not in demand for tbo manufacture of
money. It goes abroad aa material for rnonoy
thoro. Tho gold produood and importod from 1650
to 1857 was as follows
Produced
Imported
This quantity has boon tisod as ourroucy,aud tho
surplus was exported, in tho last throo years to an
oxlent oqual to tho production. Wo also exported
in the samo time $703,941,145 of merchandise
on which froights and proiits are fully 20 per cent.
Tho gold and tho merchandise together formod a
sum exceeding by $28,072,296 tho sum of tho im
ports. To this add $150,000,000 froights and
profits, and tho totnl forms an oggrogatc of
nearly $180,000,000 in three years, out of which
havo boon paid all contingencies of interest, do.,
loaviug tho trado a balanoo in our favor, as is now
ootaolly tho enso, sterling being sa7i or 2 a 44
per oent. under thoarfK/rf par , with arrangements
alroady mado to import gold from England,
and which will como in largo quantities dur
ing tho coining winter. But, says our contem
porary, if tho figures are eorroot, “the panio
is a delusion;” and thoro he is much nearer the
truth. Of ail tho panics that over swept ovor
tho oommorclal world, thoro has probably never
been ono so baseless as the present ono. With tho
utmost abundanoo of wealth, a surplus of money,
and tho foreign trado in our fAvor, tho usual sup
plies of money have boon out off by the most do
lusivo foars, a genornl distrust of all obligations.
Tho reservoirs of money boing closod, tho usual
eourcei of supply driod up by tack of confidonoe,
tho resulting straggle for money enbanoes the
fright of those who caused it. If dealers in flour
had monopolized all in the market and refused to
sell a barret on any terms, and should then appeal
to tho publio distress mystification of their coarse,
it would hardly bo thought sound reasoning, yet
this seems to be the ease with the money supply at
this moment.
Tho state of affairs In New York is Influenced by
the fears that are entertained in relation to the Qoto*
her payments of the dry-goods houses, but the searo
understood now to bo mostly oared for. Tho Now
York weekly Bank Statement is as follows :
. «« *<■.« Specie. Circola’a Deposits.
Aug.29..5110,580,019 $9,241,870 $5,871,060 $84,812,888
Bopt. 19.. 108,717,421 13,650,186 8,073,801 76,772.774
Sept.2o.. 107,791,483 13,827,095 7,838,303 78,316,611
Deduction $926,988 $223,091 $235,493 2,467,163
Tho position U ono of increased strength, and
tho difficulties at tho olearing-houao have all sub
sided. Tho loading bank officers have aonouncod
tho opinion that thoy will bo ablo to resume dis
counting for tho Ootobor payments.
THE LATEST NEWS
BY TELEGRAPH.
FHOsTwASHINOTOJi.
[SPECIAL DRSPATOn TO TUB F8899.]
Bank Buspenslont-*School Land*-.Census of
Minnesota, Sec*
Washington, Slept. 28.~Notwitbstanding tho bank
suspension! to-day, thore is no panic. Everybody de
sires to do everything to restoro confidence ouce ugain.
Tho General Land Office has just issued the following
circular to laud officers in tho Territories of Minnesota,
Kansas, aud Nebraska:
“ By the Joint resolution of Congress approvod March
8, 1857, valid pre-emption claims on tho 10th and 30th
sections, heretofore reserved for schools in tho Territo
ries of Minnesota, Kansas, and Nebraska, will bo re
cognised, where the settlement has been or may be made
prior to the survey.
“Ist. In cases where the approved plat of surrey has
not yet been returned, the declaratory statement must
be filed within three months after the receipt of such
approved plat at the district office
“2d. Whero tho plat is not in the Register’s offico, the
declaration must be filed within throe months from the
Jinal publication of tho circular in your land district. A
fallnro to comply with this requirement will work*
forfeiture of the claim.”
The land officers in tho Territories above mentioned,
Upon receipt of this circular, are required to cause its
Insertion In a newspaper of the meat general circula
tion in their respective districts, once a week for eight
successive weeks, and to send to the Land Office a copy
of the newspaper, showing tho date of tho first publica
tion, as that will be tho period of timo by which here
aftor tho offico will bo enablod to tost the validity of
pre-emption claims, so* far as the declaration is con
cerned, of the class falling under the second head in the
circular.
Tho Secretary of the Interior lias received a letter
dated St. Paul, September 21, from the United States
marshal of Minnesota Territory, in which he states that
ho ia now busily engaged in making arrangements for
taking the census of that Territory. Assistants havo
been appointed, and the necessary papers prepared. Tho
work, however, will bo one requiring much time and
labor, as many of tho counties are of great extent, and
very sparsoly sottled.
The Secretary of the Interior baa concluded an ar
rangement by which the Government has purchased,
for tho sum of $105,000, contingent upon the approval
of Congress, tho Boston Masonic Templo for the use of
tho United States courts X. Y.
fSPROIAL DH9PATOH TO THB PRHSfI.]
Middlhtown, Pa., September 28.~-Tho Bank or Mid
dletown passed a resolution to-day making thomselvo
individually liable for all their notes.
The combined wealth of the board of directors ands
cashier Is about a million of dollars, and thoir circula
tion is less than two hundred thousand dollars.
FOUR DAYS LATER FROM EUROPE
ARRIVAL OF THE STEAMSHIP JURA.
LATER FROM INDIA.
DELHI NOT FALLEN.
MORE FIGHTING.
RE-CAPTURE OF CAWNPORE—DETAILS
OF THE MASSACRE.
SELF-DESTRUCTION OP NENA BAIIIB AND HIS
CONSOLS 90*
Bt. Jonx’B,N.B.,Bept.23.—TheCunard screw steam
ship Jura, chartered by tho British Government to con
vey the 76th regiment to England, arrived at this port
at 9.40 A. M. to-day
She left Cork on the 17th Instant, five days subse
quent to the Canada’s departure from Liverpool, and
sbonld have brought four days later news from England
and the Continent.
The only paper ascertained to have been hronght by
her, however, ia a copy of the Cork Examiner of tho
evening of the 16th, which contains very little news.
Tho screw steamship City of Washington, from New
York on the 3d inst., arrived at Liverpool early on tbo
morning of tho 76th.
Paris, Tuesday night—A despatch from Berlin an
nounces the arrival of the Emperor Alexander yester
day noon.
The cholera prevailed in Hamburg, and out of 239 per
sona attacked, 130 hod died in eight days.
At Arslan more than two hundred porsoni had died.
The disease was also prevalent at Stockholm.
The Persian Government, through Feruhk Khan,
haa ongaged twenty French officers to proceed to Persia
In the capacity of military instructors.
A despatch from Jassay. received from Yienna yester
day, states that nine-tenths of the lauded proprietors
and clergy have taken part In tho Moldavian elections,
and that a majority voted in a sense favorable to tho
Union.
INDIA.
Tbo Bombay portion of tho Indian mall had arrived
at Marseilles, and was expected to bo delivered in Lon
don at about mid-day of Wednesday, 16th.
Bombay advices are to August 14th, and the news from
Delhi to July 29th.
Sorties wero repulsed an the 14th and 23d July, with
great loss to the rebels. Fire hundred men wero killed
and wounded on the side of tbo British.
From the 23d to the 29th there was no fighting.
Tho Neemuch mutineers had arrived at Delhi.
Brigadier Nicholson was expected at Delhi on tho 16th
of August, with re-inforcemeuta from tho Funjaub.
General Read had relinquished his command to Gene
ral Nicholson, on Account of 111 health.
Gcnoral Havelock occupied Oithoor, on the 17th of
July, without resistance, and captured thirteen guns.
Nona Sahib escaped.
On the 29th July the British defeated 10,000 men on
the road to Lucknow, aad captured fifteen guns
Their loss is not supposed to be great.
The butcheries at Cawnpore have been confirmed.
General Havelock was at Lucknow on the 30th of
July.
The throe reglmonts that mutinied were dispersed by
the 10th rogimeDt.
Calcutta aud Hyderabad were'quiet on tho 14th ol
August.
Brigadier Stewart arrived at Mhow on the 2d of Au
gust.
Halklar remained faithful.
From Bombay, H to stated that the mutiny of the 27th
regiment at KawDpore was suppressed by six companies
of the 33d. ** 3
One company of artillery had arrived from the Mauri
tius.
Marsrillss, Sept. 14 —The French boat Mersey has
hist brought the Bombay mail to tho 16th of August.
We havo no China mail.
“ Delhi was oxpectod to fatl in about a fortnight,
and General Havolock's troops, who are advancing
upon Luckuow, wero expected at Delhi.
“ It is reportod that Nona Bahib, the author of the
oitrages at Oawnporo, who bad taken to flight, has de
stroyed himself.
* “The 7th, Bth, and 40th regiments of Bengal native
In'antry had revolted and fled to tho Beano river, pur
su»d by Her Majesty's 10th regiment, under General
LRyd. Eight hundred of the tmttiuoers wero killed.
“The Puoj&ob is tranquil, as well as tho country
arcund Delhi, Meerut and Agra.
“At Bundelcuml there wero signs of disturbances. w* w
‘ There Is little nows from Gualior Tho mutineers at
Seal Kate wore destroyed on the 10th of July by Gon.
Niclolson.
“Detachments of Europoan been sent to
Bombay. The panic which existed a fortnight Ago at
Bonbay had subsidod. General Noil joined General
Ilavflock on the 23d of Jniy, aud was on tho full march,
towrrds Lucknow.
“ The disarmed 20th Bengal native infnutry mutinied
at Msean, on tho 23d or July, and murdered their corn
masting officer, Major Spouce.”
Tho Latest.
[By telegraph to tho Cork Constitution of Sept. 17.]
Gcmral Havelock's force for tho roocoupatiou of Cawo
pore lad in eight days marched'one hunrued and twenty
six m lea and fought four actions with Nona Sahib’s nrmy.
againit overwhelming odds in point of numbers,
and Ind taken twenty-four guus of light calibre, aud
that, too, in tho month of July iu India. On the morn
ing ofthe 19th of July tho force marched Into Cawnpore.
Thoeoul-harrowiug spectaclo which there presented
itself to them beggars description. A wholesale massa
cre hid been perpetrated by tho Qend Kena Sahbi.
Eightofficers aud ninety men of Iler Majesty's 84th
regtrotnt, seventy ladies and ono hundred and twenty,
ono children Of Her Majesty's 82d fort, and tbo whole
European and Christian population of the place, Inclu
ding c’rillanH merchants, pensioners and their families,
to tuo buraber of four hundred persons, wero tho vie
tlms oi this Satan, Tho court-yard in front of tho as
soinbi/rooms, In which Nona Sahib had fixed bis hood
quartos, and in which tho women had boon imprisoned
was swimming In blood.
A larjjo number of women and children who bad been
cruelly spared after tho c&pituiatiou for a worse fato
than inktnnt death, had boon barbarously slaughtered
on tbolprevious morning; tho former having been
strlppeqnaked, and then beheaded and thrown into a
well, am tho lattor having boon hurled down alive upon
their butchered mothers, whose blood reoked on their
mangled bodies. Only four escaped, tho wifo of a mer
chant an] tbreo others.
A wit* o' the 33d Infantry, from the Mauritius, had
arrived tc.Bomb&y.
At Tlnbalpoojtho 31st Native Infantry, 40th Foot, and
the 3d Irregular Cavalry, uudor nativo officers only, at
tacked, oa tbo 7th of August, tho mutineers, consisting
ofthe 42d Native Infantry and 3d Irregular Cavalry r
and completely routed them. Gon. Woodburn is sick at
Oolumby. Colonel Stewart has gone to Mhow P«ta. Wo
learn that a plot haa been discovered, and that amongst
tho conspirators were tho son of tho well-known Ameer
Gundfya, and Molvie Aliy Kursem, who were ar
rested.
A plot hid also been discovered at Benares.
It was reported that Agra bad fullen into tho hands
of the rebels.
A despatch received at the Indian House from Alex
andria, dated September Bth Inst., an}*#:— Gen, Ilavo
lock’s forcts, after reoccupylnp Cawuporo, finding Bo
toor evacuated, burned it to the ground.
Ou the 39th and 30th of July, they found the rebels
at Buffer d*l Runge, about elghtoen miles from Cawn
porP, nurabjriuß 10.000, whom they defeated with the
loss of fifteen guns. Thoy expected to reach Lucknow
the next day.
Sir Colin Campbell has assumed command of the
Indian army,
Tranquility is restored m Central India.
The seventh, eighth, and fortieth regiments, which
mutinied atCawnporo, on the 23d of July, threatened'
Benares.
.$331,957,700
. 42,447,443
.$374,406,203
. 242,823,890
.$131,581,313
The twelfth irregular cavalry, which mutinied at tho
same time, murdered their commanding officer, Major
Uotmes, and his wife.
General Uavolock, In a despatch to the Governor
General, says that “ Nena Sahib hos’drowned himsolf
with his family. Ho had an intention of going to Luck
now. hut when he got aa far m the river, the cavalry
and infantry deserted him. They aro all gone off, aftor
destroying their arras, to their different homes. Cawn
pore is now asquiet as Adahabad.”
Commercial Intelligence.
LONDON MARKETB.
At the Cora Exchange this day (10th) thore was a.
very small attendance of Infers.
Wheat—Tho few sales made are at Monday's prices.
Barley and Oats quite as dear as on Monday.
In Flour there la not much doing. Norfolks alow of
sale at 41©42i.
Uibornos roport the supply of Wheat large, and other
articles small Wheat steady for all sorts, and floating
cargoes In demand at very full rates. Barley vory firm.
Loans and Peas unaltered. Oats quiet.
LONDON MONEY MARKET.
[From the Times, City Article, Tuesday Evening.]
The funds continue dull. Theyoponed at a decline
of and subsequently experienced a further reduction.
At the Bank of England, and in the Discount market,
there was considerable increaso in tho domand for
money.
[From the Daily News, City Article, Tuesday evening ]
Considerable gloom prevailed throughout the Stock
Exchange to-day, The funds fell ft per cent. The
market is chiefly prejudiced by the gloomy financial ad*
vices from the Continent and New York; and an in
crease In tno demand Tor money la the Stock Exchange,
In connection with the fortnightly settlement iu shares,
also operated oniho unfavorable side.
. rm Discount market, the demand was moderate,
but this may be owing to the circumstance that the
bank is In the cheapest inarkot at present. The appli*
cations at that establishment continue to be consider*
able.
iondonßxchango, Bopt. 16—Opening prices of Consols
for money 60 11.83, for account 9015-28
1 P. M —Consols for money for account 90 31*83.
London, Sept. 10.—Yesterday tbo Bank of Holland
again raised its rate ordiscount. It was previously in
creased from 4 to cent., and it has now been put
to 5 & cent. According to the Timu' city article, the
movement is believed to have been adopted In conse
quence of a largo amount of securities having been
thrown upon the Amsterdam market from Vienna ;
where the preparations of the Austrian National Bank
for tho resumption of specie paymeuts on the first of
January next cause considerable pressure. Under the
circumstances, it is thought that the Herman banka
will be compelled to follow tbo example Of the Bank of
Holland, and as a general rise will thus be established
over a great part of tho continent, the prospect of bet
ter times Is proportionably deferred.
LIVERPOOL CORN MARKET.
On Tuesday there was a great attendance at the mar*
ket, and a fair business done iu Wheat, at an advance
in Red of 3d 70 lbs. Flour was also In better sale.
In Beans. Peas, Indian Corn, and Oats, there was only
a limited trade, without change In prices. New Oat
meal rather lower.
Paris, Tuesday night.—The three per cents have
closed, with scarcely any change, at 66f. 55c.
The Washington Bonks*
Washington, Sept. 23.—A notice posted on the Bank
of tho Metropolis Bays that the panic created by the
suspension of other banks having caused a much larger
doinand for specie than was anticipated, that institution
is undor the painful necessity of suspending specie pay
ments for the present. Tho trustees remark that they
will make every exertion to resume. The bank paid
out $05,000 on Saturday.
The Bank of Washington and tho Patriotic Bank which
paid out small sums on Saturday, haro now altogether
suspended.
Tho Savings Banka pay either iu city banks or Vir
ginia money, and demand the six days’notice from de
positors. Virginia money is at a discount of five per
cent., and tho tendency Is still downward. Easiness Is
nearly paralyzed, and uncurront money iu unsaleable.
The Excitement at Pittsburgh*
PITTSDUROU, Sept 23—The bank excitement in this
city is subsiding. The Mechanics’ Bank suspended pay
ment this morning. Business was completely paralysed
during the day.
Pittsburgh, Sept. 28—Evening —All tho banka of
this city, excepting tho Pittsburgh Bank, have sus-
E ended. At a meeting of the executive officers of the
anks to-day resolutions were adopted expressing the
opinion that the suspension of tho payment of coin is
necessary to protect the business men in enabling the
banks to continuo to discount local paper and exchango,
and peremptorily instructing tho cashiers of the re
spective banks to resume payment of specie when simi
lar action has boon adopted by tho Eastern banks. The
excitement produced by tho panic has nearly subsided
The Virginia Banks.
Norfolk, Va., Sept. 28.—Some feeling is manifested
hero about tho Baltimore and Philadelphia suspensions,
but the hanks so far have remained firm.
Richmond, Va., Sent. 28.—The hanks are paying
specie, and it is generally bolieved that they have deter
mined to go on. There is no run as yet.
Both of the Staunton bonks, tbo Central and Bank of
the Valloy, have suspended.
Richmond, Bept. 28.—Tho banks of this city closed
firm. The demand on them during tho day was raode
rato. They have determined not to suspend. They re
fuse to take on deposit all suspended Virginia banks.
The Mouticello Bank, at Obarlotteville, suspended
to-day.
It is reported tho banks west of Lynchburg have sus
pended.
Alexandria, Va., Sept.2B.—Thobanks hero are pay
ing out small sums of specie only.
Frtersburo, Va., Bept. 28.—There is considerable
excitomontprevailing hero io regard to the suspensions
at thu North, and some uneasiness among the small
dealers. There is no Intimation of suspension, how
ever, by the banks, and all demands to half-past one
o’clock this afternoon; have been met.
Norvolx, Va., Sspt. 28—No suspension of specie
payments has yet gone into effect. There aro appre
hensions of a run to-morrow by foreign brokers, but the
bankora fool securo in tboir ability to meet it.
The New England Country Banks*
Boston, Sept. 29. —Tho Suffolk Bank refused to re
deem tho bills of the Country New England Banks for
Individuals, for the alleged reason that the amountpre
sented was greater than the clerks could attend to. The
deposits of country money sent from other banks are
promptly redeemed. Tho country banks generally are
w«ll protected, and will retain the public confidonco.
The Baltimore Banks.
Baltimore, Sbpt. 28.—N0 material change occurred
in raonoymattors to-day. The banks in some instances
redeemed their $5 bills, as a matter of accommodation.
Specie commands a premium of 7 to 10 per cent. In ex
change for Baltlniore'funds.
The Trenton Banks,
Trsnton, N. J.. Sept. 23.—The banks have resolved
to continue specie payments. The amount of specie
paid out to-day was lull three-fourths less than on Sa
turday. The banks express their ability to meet all de
mands. No failures have occurred to-day.
The Boston Banks,
Boston, Bept. 28.—The Suffolk Bank refuses to re
deem the hills of the New England country banks.
Tnere is no suspension hero yet.
The Rhode Island Banks,
Providence, R. I , Sept. 28.—The banks of this city
have resolved to suspend specie payments. Their lia
bilities to tho public aro not over one quartor of their
capital.
Providence, Sept. 28.—An injunction in the Hop
kinton Bank has been obtained. There can be no loss
to bill-holders.
The Banks of Nashville, Tennessee,
Nashville, September 28.—The Bank of Nashville
suspended this morning. At a meeting of merchants,
which was hold to-day, it was recommended to the di
rectors of the Union, Planters’, and State banks to sus
pend also, but they refused. Several “Froe” banks
wero thrown out to-day. Confidence is felt that the
Bank of Noshvillo will pay, and have a large surplus.
The Banks of Wilmington* N. C,
Wilminoton, N 0 , September 28,—There is no ex
citement here. All our banks are perfectly sound and
will continue as heretofore. But tholr future action
will bo governed by that of their neighbors.
The Carolina and Georgia Banks*
Augusta, Ga., September 28.—The banks of North
and Bouth Carolina, and Georgia, are all right. The
question of a suspension is not oven entertained.
Monetary Matters at Cincinnati.
CiNcixnit], September 28. —The excitement In con
sequence of the unfavorable advices from the East has
paralyzed business In this city. New York exchange is
quoted at par, but only smtil amounts will bo purchased
at this rato The paper of an iron house and a shoe
and leather house has been protested.
J. B. Holmes, manufacturer, has assigned.
Failure in New York.
N»w York, Bept. 23.—Abbott, Dodge tc Co , a South
ern flour house, has suspended. Humors wero afloat du
ring the day affecting the solvency of Messrs. Clark,
Dodge & Co., and Pholps, Dodge & Co., which proved
to be entirely untrue.
Failure in Doston.
Boston, September 23.—Messrs. Jewett & Co., pub
lishers of this city, have suspended. Their liabilities
are $lOO,OOO.
Suspension of Two St. Lonls Banking-Houses.
St. Louis, Sept. 28.—The banking-houses of Messrs.
Darby tc Barksdalo, and JohnJ. Anderson Jt Co., of
this city, suspondod temporarily this morning.
Fire near PolUvlUe.
Pottbtillb, Sept. 23.—The engine-house at Castle
William Colliery, about 8 miles above this place, was
entirely destroyed by fire >esterday morning The fire
Is supposed to havo been the act of an incendiary. Tho
works belong to Rogers, Smnexoo, & Co,, of Phila
delphia.
Alleged Murderer Arrested.
Pittsburgh, September 28.—A 'coachman, named
Jordan, was arrested in this city, yesterday, for the
murder of Appleby, a grocer, at Chicago, iu June last.
110 was sent on to Chicago, for trial, this morning.
The circumstances tend strongly to implicate him.
St. Louis Agricultural Association.
St. Louis, Sept. 28.—The second annual fairof tho St.
Louis Agricultural and Mechanical Association com
menced to-day iu the beautiful grounds near this city.
Boveral trials of horses came off within tho amphitboa
tro, Missouri carrying off tho majority of tho premi
ums. Tho crowd gathered on tho occasion is estimated
at ten thousand. Tho weather has been delightful, add
ing to the attractions,
Fire nt Grand Ilaplds.
Dstroit, Sept. 28.—A fire occurred at Grand Rapids
on Friday last, consuming tbo best business houses of
the ptace. The loss is estimated at $lOO,OOO, and the
iusuranco at from s£o,ooo to $OO,OOO.
THE CITY .
Guardians of the Poor ■ —A stated meeting
of tbo members of this body was bold last ovoning
at their office in Sovonth street, übovo Market—
Mr. Brown, President.
Present—Messrs. Cook, Dunlap, Evans, Fisher,
Gamble, Hoiahloy, Ifenszey, Laflorty,Lloyd, Mose
ly, Reeves, Riddlo, Server, Smith, Taylor, Brown,
(President.)
Tho following was tho census of the House on
Saturday last:
Total number in the house, 2,073; same time last
year, I,BB3—increase, 190.
Recapitulation—Admitted during tho past two
weeks, 195; births during that time, 5; deaths,
22 ; discharged, 83; eloped, 30; bound out, 4.
The atrlngenoy of the money market has had a
favoroblo effect on pnuporism, as thero were no ap
plications to tho Board for immediate relief, an
unusual occurrenoo.
Tho clerk read the following communication :
“ M vnchkstbr, September 9,1857.
Mr. Bnowx: I reached hero this morning, and feet
much fatigued from so long a journey. Sir, the stew
ard made uia pay my board after the head doctor told
mo ho would not chatgo anything for tho last week.
Sir, tho policeman that got my money kept $5 50, and
my gold ring worth $2 50. Sir, if you can do anything
for me in getting back the board inouoy, or something
from tho police, I will forever pray you. Dear sir, if
you will speak to the Houso Agent about me, he has
something to toll you. Dear sir, do something for me if
yon can, as I am vory sick and got no money.
ti Please address Thomas Hanna, Manchester Station,
Conn.’’
TJio communication was laid upon the table.
This is tho unfortunate man who cut his throat
a short timo since in tho cells of tho Contral sta
tinn-houso, nt Fifth and Chestnut streets. It ap
pears fiom tho communio&tion that ho has boon
robbed both by tho police and tho ofiioers of tho
almshouse.
Tho Collector of Outstanding Dobts reported that
he had collected $625.75, and paid tho same to the
Treasurer.
Mr. Charlos Murphy, tho steward, reported that
ho had oollooted §57.50.
Mr. Sorvor submitted tho following, which was
adopted :
Resolved, That a committco of throe be ap
pointed to inuko tho necessary estimate of exponses
of this department for tho year 1858, and roport
tho samo nt tho next mooting of tho Board.
Messrs. Sorvcr, Mosely and Riddle woro appointed
on tho oommittce.
Mr. Evans submitted a resolution increasing tho
salary of tho Visitor of the Tenth District from
$250 to S4OO, which was laid over.
Mr. Server submitted tho following, which was
agreed to;
IVhereas, Tho appropriations mado iby Councils
to this Board for “support and bastardy” cases
has booome exhausted, leaving threo months of tho
present year (requiring eight hundred dollars per
month) unprovided for: thoroforo,
That the Treasurer of tbo Board be
instructed to rotnin a sufilciont amount of funds in
his hands to dischargo sixteon monthly liabilities
of tho Support Committco for tho b&lanoo of tho
oturront year.
Bills woro roported to the amount of $5,841.38,
which woro ordored to bo paid. Adjourned.
JExteraivc Robbery of Silks and Velvets. —
Yesterday morning, shortly aftor seven o’clock, it
was discovered that a heavy robbery of silks and
volvots had beon committed in tho largo five-sto
ried building, No. 207 Carter streot, above Se
cond, directly opposite tho establishment in whioh
tho “ Press’’ is printed. Some of the persons em
ployed in No. 207, upon proceeding upstairs, found
a quantity of silks and velvets lying in the differ
ent passages. Tho presenoo of these goods was
explained by a hole whioh was founql in the wall,
and whloh opened into an apartment in the ad
joining boilding, occupied by Messrs. L. & B. Cur-
U 3 * Bllk merc bante. The new store,
No. 214 Chestnut street, above Second, runs
through to Garter street. The second floor
of the struoture is occupied by the firm just
named. It seems that the robbers opened the
door of the building by means of false keys.
Tho? then repaired to the third story, used for
storing refrigerators, bat not finding anything
there to suit their purposes, they continued on up
stairs. Mr. George H. Tryday, ornamental carver,
occnpies the fourth story, and here they found a
fine vsrioty of tools They forced open the door of
Mr. Tryday’s apartment, and helping themselves
liberally to tools, they commenced operations. The
point of attack was the wall, just at the head of
tho stairs, leading to the third story of No. 207.
and on a line with the shelving in the adjoining
apartment, in No. 214 Chestnut street, occupied by
the Messrs. Curtis t Co. The wail is thirteen
inches thick, and very substantially built, but
a hole twelve inches by fifteen in sixe was cut
through it. Mr. Tryday’s tools suffered consi
derably &t tbo hands of the rasoals. After
entering tho store of Curtis A Co., the best goods
were hurriedly selected, and silks and velvets to a
very largo amount were passed through the breach
in tho wall and carried down stairs in No. 207
Carter street, where the wrappers were stripped
off. The wrappers of fifty-four pieces of silk were
found in this building. The contents were, of course,
carried off. It was very evident that the scoun
drels boat a hasty retTeftt, for not leas than a thou
sand dollars’ worth of valuable goods were left by
thorn scattered about in No. 207. They had
aIBO piled up a large number of pieces of silk
in the store of Curtis & Co., near the
aporture in the wall, but which they had left
behind them. The goods stolen are valued
at about $6,000, consisting principally of black
silks and velvets. It is supposed that the
scoundrels first attempted to enter by way of the
roof. They burst off the fastenings of the trap-door
of No 207, but they could not get iGto the store
from the roof. We baTe stated that the scene of
the robbery is directly opposite the press es
tablishment of this paper. It is not known what
time the robbery was committed, but we donbt not
that it was between two o'clock yesterday morning
and daylight, and that the thieves took advantage
of the noise made by the machinery to prosecute
their wall-breaking operations. A dark lantern,
used by the robbers was found burning in the
morning. The store of Messrs. Curtis A Co. was
robbed In March, 1856, of silks valued at $ll,OOO.
The goods were traoed to New York, but they were
never recovered.
Yesterday, High Constables Bussell and Trefts
arrested David MoMichael and Bernard Hoffman,
on suspicion of having been concerned in the rob
bery. They hod a hearing last evening before Al
derman Eneu, and were committed for a further
hearing.
Grand Democratic Rally in the Third Cbn
grcssional DiJfricf.—Last evening a large and
enthusiastic mass meeting of the Democracy of the
Third Congressional district was held at the corner
of Washington and Master streets, in tho Seven
teenth Ward, at 7j o’clock. It was organized by
the selection of the following gentlemen as officers:
PasaiDi.ir,
JOSEPH GEIS3B.
Tics Pusiveits,
-J,
Jacob Slammer, Michael Magee,
Andrew Noble, Robert Sherrard,
William 0. Kline, Qugh.Clark,
James Lloyd, John Crawford,
James Tally, John B. Lever,
George Tisher. Cornelias Kelly,
Terrence Reilly, James Young,
William J. Ashe, John Basilar,
Michael Schoales, David Peacock,
Adam Richards, William Bot&n,
Samuel Rot&n.
BSCBETARIS3,
Georg# Joseph GeUie, Isaac W. Moore,
John Devlin, G. M. Donghtj,
Edmund Brewer, P. J. Welters,
11. Dr. Wadsworth.
Thos. E. Harkins,Esq., of the Seventeenth ward,
after a few preparatory and very eloquent remarks,
read, in a clear and vigorous voice, the following
excellent resolutions; whioh were unanimously
adopted:
whereas, The time has come when it Is right
and proper that a correct expression of opinion
should be ascertained, both as regards the relative
merits of those put forth for the Democratic suf
frage, and to discuss the important and interesting
questions which apply to the prosent time. There
fore, •
Resolved , That we, the Democracy of the Third
Congressional DisLriot, in mass meeting assem
bled, this 28th day of September, A. D. 1857, hail
with feelings of pleasore and delight the opportu
nity now aJTordod us to emphatically and une
quivocally declare our firm and undiminishod at
tachment to our much-beloved and well-tried Fe
deral Constitution, and wish to have secured to
ourselves, as well as to our brethren of the other
States and Territories, all the rights and privileges
which have been to them justly and fairly guaran
tied.
Resolved, That the present financial crisis is the
natural result of an inflated paper currency, and,
in the adjustment of the question, the Democratic
party ot the State cannot be made a party to the
schemes of rotten banking institutions, or driven
from its well-known and settled polioy in reference
to banking capital.
Resolved , That we heartily endorse the Admin
istration of our favorite son and ohief executive,
James Buchanan , and, whilst fully of
tho fact that tho affairs of our great and growing
nation will, under his guidance and supervision, be
entirely safe and prosperous, we ore nevertheless
both anxious and desirous that such a course should
bo pursued, in every respectj as will servo to stimu
late our efficient and deserving Democratic sons to
still further and greater efforts, and that wo may
thereby gain new laurels of increased victory.
Resolved . That in our candidate for Governor,
Gen. Wm. F. Packer, we have presented a gentle
man to whom we con, and will, gladly give our
entire support, feeling satisfied that when elevated
to the gubernatorial ohair of the “ Old Keystone
State, he will pursue such a courso'as will com
mand the untiring respect and confidence of our
oUixons of every kind and creed.
Resolved , That with Nimrod Strickland as oar
candidate for Canal Commissioner, and Messrs.
Strong and Thompson for Judges of the Supreme
Court, we feel a certainty of possessing every
necessary and proper qualification for their re
spective important positions, and that they will,
when placed in office, add further lustre and glory
to the State, themselves, and their politioai party.
Resolved , That we will do all in our power to
elect our City and County ticket; and (hat we
hero proclaim that we have the fullest confidence
in all our nominees, both as regards their honesty,
capacity, and political integrity, and that, as such,
tboy shall receive our undiminished and unfalter
ing support
Resolved. That as Democrats, intent upon being
true to tho doctrines and practices of our party rules,
wo declare our undying attachment to the great
principles of Democracy: wilt support the regular
nominations as now ana hereafter presented to us,
and thus be enabled to join in the load hosannas
whioh, on the second Tuesday of next October,
shall proclaim to the world that Pennsylvania has
achievod a groat— a Democratic Victory.
Eloquent speeches were made by Eugene Ahem,
Esq., Uen. John D. Milos, Hon. W. H. Witte, T.
E. Harkins, Esq , John Campbell, Geo. W. Nebin
ger, L. C. Cassiday, and others; aftor whioh the
meeting adjourned
Polue Items. —Yesterday, at noon, Detec
tives Russell and Trcfts arrested two young men
for attempting to piok pookots at Third and Carter
streets, in front of the Inquirer establishment.
They were taken before Alderman Enou, who com
mitted them aa vagrants. They gave the names
of William Kelly and Augustus Kearney. While
in tho lookup, and previous to the hoaring, the
prisoners begged to be lot off, stating that, if ths
officers would grant this request, they would giro
them the names of fifteen or eighteen others who
came on 'here to attend the Stato Agricultural
Fair.
Alderman Devlin yesterday committed a man,
named John Branigan, who was arrested at Fourth
and Franklin streets, on tho charge of stealing a
number of artiole* from the German Catholic
church at Fifth and Franklin streets.
Alderman Carter yesterday committed an indi
vidual giving the name of Robert Smith, who was
arrested at fourth and Shippeu streets, on tho
charge of stealing a horse and wagon.
William Smith, who on Saturday was arrested
at tho Exchange by Detective Russell, has been
identified by & lady of Easton os an individual
who robbed her of ono hundred dollars daring the
recent fair at that place. \
Wo notice that tho {policemen of the Ninth and
Tenth Wards, comprising the sixth district, are
generally detailod for oxtra duties on special occa
sions, more so than the men of any other district.
Probably this is on account of their acknowledged
efficiency; and although their work is most
onerous, it is gratifying to see that the Mayor ap-.
preciatcs tho importance of their superior and fre
quent services
It has been suggested that a neat silver Btar,
like those recently presented to the local telegraph
operators, be worn oy the policemen in the differ
ent wards. They aro certainly far more tasteful
than those now used.
Political Combinations—Another Ticket .—
The movement to ran & “ union” tioket in the city
and county of Philadelphia appears to be a de
cided failuro. Tho preponderance of the American
“straight-out” vote nos convinced themauagers of
the “union” party that the ticket is doomed to a
hopolesa minority. Another experiment is noff to
bo tried. Messrs. R. D Wilkinson and D. B. Beit
lor, tbo respective candidates for Recorder of
Deeds and Coroner, aro to be dropped from the
“union” ticket, and the names of Messrs. Charles
W. Carroll and N. T. Baroux, candidates for the
saroo offices on the American ticket, are to bo sub
stituted. Mr. Edwin T. Chase, the candidate on
the “union” tioket for Prothonotary of the District
Court, is to take theplaco of Mr. J. 11. Hill on
tho American ticket. Too first step in this political
combination will commence to-day in the ro-assem
bling of tho American County Convention at tho
court-house this afternoon. While tho wiro-workers
of the opposition are concocting all sorts of schemes
to defeat the Democracy, the latter are quietly
awaiting tho day of election, when they intond to
triumphantly elect all of their candidates. When
all the “ arraugemonts ” of tho opposition are
completed, the two tickets which will be in the
field for county offioors will be as follows :
Democratic. I Opposition.
Associate Jadge of the Court of Common Pleas
Jakes R. Ludlow 1 Rob**t T Cohrad
Recorder of Deeds
Albert D Boil'klp - . )” Ciiarlib w. Carroll
Prrthoaotary of the District Court.
Jous P. McFaddex. | Edwin T. Chasb.
Clerk of the Court of Quarter Session*.
josbpu Cbookstt. 1 John 8. Kbtsm.
Coroner.
Jonx R. Fsnnjsr. 1 N. T. Eaboox.
Midnight Intruders. —Shortly after midnight,
on Sunday night, Mr. John Hughes, residing at 729
Hubbell street, was awakened oy loud rapping at
his front door. Mr. H. refused to open tno door,
whereupon the look was broken and three men en
tered the front parlor and threatened to shoot Mr.
Hughes unless he would permit them to search the
premises. Mr. 11. prevented them from goiog up
stairs, and whilst parleying with the depredators
tho family gavo the alarm and the men decamped.
Mr. Hughes cannot imagine wbnt was tho objectof
tho midnight visiters.
A man, named George Turner, was found about
12 o’olook on Saturday night secreted under a bed,
at the house of Mr. Joseph Thompson, Ridge
avenue, above Parrish street. Tho intruder was
arrested, and sent below.
Freaks of a Mad Bull.—A. boll ran along
Callowhill street botwcon two and three o’olock
yesterday afternoon, in a frantic and highly ex
cited mannor, tossing pedestrians about him at a
furious rate. Among those who were the victims
of hia wrath, wo have heard of the following : John
Wood, of the firm of J. & Y. Wood; * little girt,
named Hickson. A man named Magee was carried
to the office of Pr. Hamili, suffering from conci
sion of the brain. Ref Geo. A. Dnrborow nar
rowly escaped, M tbe infuriated animal had his
horns fast through the gentleman’s coat tail, and
tho consequences might hare been disastrous, but
for the timely arrival of Officer Kugler, 437, who,
at great risk, succeeded in rescuing the Rev.
gentleman from his perilous situation. The bull
was finally captured.
The Banks Yesterday. —The Girard Bank
redeemed its fives, marked'checks “good,” and
refused all notes of a larger description than those
designated. The Bank of North America com
menced speoie payment, and continued it until
about ten .minutes of eleven o'clock It then re
deemed its fires, marked checks under fifty dollars
‘•good.” and gave duo bills for those of a larger
amount. The Manufacturers’ and Mechanics’ Bank
redeemed its own fives, and marked cheeks ** good.”
On the door of the Philadelphia Bank was posted
the following notice: “Philadelphia Bank—No
notes can be redeemed until further notice. Checks
will be paid in note* instead of being marked good.**
The hank changed its large notes for those of a
smaller denomination on presentation.
Tho Northern Libertiesfßank redeemed its fives,
and marked cheeks. The Consolidation, tho
Western, the Commercial, the City, Tradesmen's,
ana Mechanics’ Banks redeemed their own fires,
and marked checks good. The Soathwark Bank
redeemed all iU note?, but paid no checks. On
the door Of tho Bank of Penn Township wa3 ported
the following, which was strictly adhered to:
“Bair or Pi yx Towisai?.—This bank redeems all
of her fitei in specie. IXa posits received under ipwisl
contrsct only.”
Funeral of a Dartmoor Prisoner Philip
B. Schuyler, Sr., aged seventy-fire year?, a Dart
moor prisoner, was barled yesterday afternoon, at
Monument Cemetery. Ho died on Friday last, at
his residence, corner of Fourth and Bearer streets,
in the Sixteenth ward. The survivors of the
Dartmoor prisoners united in the last tribute of
respect to their deceased comrade. The funeral
was very largely attended.
Two Democratic hTectings are to be held this
evening, one at the house of Aquilla Passoe, N.
W. corner of Second and Washington streets, and
the other at the corner of Eighteenth and William
streets. A number of celebrated and eloquent
speakers will address the meetings.
The Third Anniversary of the Sunday School
Union of the Northern Districts of Philadelphia
will be held at the Musical Fund Hall, Locust
street,' this evening.
The Alarm of Fire, at two o’clock yester
day afternoon, was caused by the burning of a
structure in We3t Philadelphia. The damage was
very trifling.
The double track on the Germantown rail
road has been completed to Germantown.
Meeting of the Board of Trade. — The first
regular meeting of the Board held tine* the vacation of
Sommer took place last night at the Merchants’ Ex
change—thirty-fire members being present.
On motion, Mr. S. V. Merrick was called to the chair,
the President being absent.
The reading of the minutes of the last meeting m
dispensed with.
Mr. Kennedy, chairman of the committee appointed
to investigate the affairs of certain Insurance Compa
nies which bad requested such scrutiny, stated that the
committee had deemed it prudent, under present cir
cumstances, to defer a report until next meeting.
The tame gentleman, in relation to eastern exchanges,
said that tbs question whether a merchant, who has
obligations due and parable in Philadelphia at a speci
fied bank, and haa only provided funds there to meet
them, is to be regarded as discredited if the holder of
sneh obligation insists on payment of the same In specie
or specie funds, fa resting upon many of our community
and deserves consideration- As opinions xnav be divided
.on this matter, it is suggested that, where" parties aro
protested only because refusing to pay other than par
currency funds, it is a duty to haT« the fact of the spe
cial reason of sneh protest made as publie as the protest
may be by the collecting bank or agency.
Mr. Boldin coincided with Mr. Kennedy, and stated
that when he bad met hit obligations with the current
funds of the country, be considered that he had ful
filled every moral and business obligation. He had
paper now falling due which he intended to pay in this
manner, aod if it was protested on that account ho
should care nothing about the matter.
In this view several other gentlemen expressed a
unity of feeling, hut no action was taken in the matter,
the gentleman who first suggested it declining to give
it in the shape of a resolution at the present meeting,
though he announced his intention of doing ao in
future.
Mr, Ludwig offered the following resolution:
Pesolced, In viev of the meeting of the Legislators
of this Commonwealth, in special suasion, for the pur
pose of considering the important subject of legalising
the suspension of the cf Pennsylvania, that the
merchants, - manufacturers, mechanics, and traders
generally, be invited to unite in a public expression of
the various business interests of Philadelphia in refer
ence to the proposed legalisation of the suspension, be
lieving that the best interests of the community and
the State will be subserved thereby.
Mr. Kennedy thought that the one great and Impor
tant measure required, was to enable the employers of
all grades to re-engage immediately and set to work the
multitudes of operatives now out of employ before they
become dispersed over the country. The now prostrate
condition of the Industry of the State, he considered,
was the most important matter now before the publie,
and he trusted that & publie meeting for this porpoae
should be convoked at the earliest possible opportunity.
Ue thought that the banks would be sustained by pun.
lie opinion, if they aided our manufacturer?, even
though they defied legislation and acted independent of
The following notice was read by the Chairman and
greeted with applause:
“The Governor’s proclamation will appear in the
morning papers, convening the Legislature for October
6, to take into consideration the present condition of our
banks, etc. Also, the action of the presidents of the
banka, agreeing to restore the Bank cf Pennsylvania to
Us position at the clearing house, etc., and to discount
liberally for the customers.”
The discussion of Mr. Ludwig’s resolution was then
resumed. Mr Ludwig modified the resolution so that s
committee of St© might be appointed to arrange the
Eteliminaries of such* meeting at an early day. to he
eld in some public hall. Messrs. Ludwig, AddJcks,
1 Kimble, Busby, and Morris were appointed such commit
tee. Notice of the time of holding the meeting will bo
given in the public journals.
The Board then adjourned.
Another Case of Probable Incendiarism —A
destructive fire occurred last night on Delaware avenue,
which at one period threatened, to terminate in a se
riously extender conflagration. The locale was the
centre of the block on Delaware avenue, immediately
above Walnut street, running through to Water street.
The damaged building was the extensive store, the first
floor ©f which is occupied by Thomas McCann, oil mer
chant, and the upper portion by O’Neil A Brother, Soar
broken. On Water street the buDding is occupied by
Messrs. Samuel Grant, Jr., A Co., who occupied their
portion as a depot for the product of the Ashland Chemi
cal Works. The fire originated is the upper story of the
latter, and la believed to baT© been the work of an in
cendiary. The flames first appeared through the roef,
end burned with very great rapidity.
When the firemen burstopen the aide door of Messrs.
Grant’s store, which is on an alley running from Wale at
street north, the eatire interior was found to he la
dames. They came early after the alarm upon the
ground, but water took little effect upon the action of
tbe highly inflammable matter that was consuming. A
volume of huge sparks ascended upwards, which tell so
thickly that the packet ship Tooawanda, which lay im
mediately opposite, was considered to be in great dancer,
rendering the ntmwt vigilance necessary to prevent her
taking fire.
The different fire companies worked with vigorous
diligence, and after a short time the steam engine Fix*
Fly. under the charge of the America Hose, came down
to their relief. The hose was applied, and the appara
tus promptly put in motion. The effect was almost in
stantaneous. The flames were diminished in fierceness,
and in a few minutes entirely subdued. The clouds of
dense black smoke that followed indicated the effect of
the deluge of water thrown by the “little giant,” and
the weaned firemen rested while the Fire Fly completed
tbe task.
The damage inflicted by thia fire it serioos, and calls
for investigation as to ita cause. Fire Detective Black
bum waa early upon the ground, bat whether he will
be successful in ferreting out the guilty parties—lf the
case be aa is supposed—remains to be seen. The test of
Mr. McCann is serious; but. in the absence of authen
tic information, it is impossible to estimate the amount.
That of Messrs. Grant & Co. is not leu than $20,000.
0 ’Neil & Brother also lose heavily.
Tho store of Messrs. Grant & Co. was robbed daring
Sunday night. It waa entered by burglars. The safe
was forced open, and ell the valuables it contained were
carried off There bad been no fire of any kind upon the
premises daring tbe day. and the character of the drug*
stored in the building! although Inflammable when
ignited, precludes the idea of spontaneous combustion.
It is the opinion of the Interested parties that the deed
of Bunday night was repeated, and that to cover their
eril work the thieves fired the premises.
Directors of the Fire Department. —This Board
held a stated meeting last evening, at the usual place
H. L. Sinnexon, President, in the chair.
The committee on the date of the Hand-in-Hasd Fire
Company reported that they bad found the first minute
book of the Hand-ia-Hand, commencing on the first of
March, 1741, in which was the constitution printed on a
slip of paper. This constitution was signed by a number
prominent dtixens, some of whom were signers of the
Declaration of Independence. They also found a num
ber of the old minute books and bills of the company,
showing a continued existence to tbe present day. The
committee are of the opinion that the company was in
stituted in the year 1741.
Hr. James Page said that he came to the meeting as
a delegate from the Hibernia Fir* Company, for the.
purpose of protecting the company from an attempt to
take away its rank, upon which depends its honor,
lie objected to the jurisdiction of the Board in the
matter.
At this point the State House bell commenced ringing
a general alarm for fire, and a motion waa made to
adjoam fer two weeks, which was agreed to. Ad
journed.
Drournirtz Case.— A lad earned Carlin, twelve
veers of age, was accidentally drowned at Spruce street
wharf yesterday afternoon. Hia body waa recovered,
and Coroner Delavau held an inquest.
PHILADELPHIA MARKETS.
Septembsu 23th—Evening.—The monetary panic still
continues to affect business, and the markets generally
are pretty much at a stand aa regards sales. In Bread
stuffs the transactions in flour are only to tbe extent of
300 bbla Single extra at $5.'15, and SQO bbladouV edo
at a price kept secret; common and shipping brands
are held at $5.50, without finding taken, exporters hav
ing withdrawn from the market la the present Ptate of
the times. The local demand is limited at from $5 75
to $7.50 V bbl, according to brand. Nothing doing in
corn meal or rye flour; the former is quoted at $4. and
tbe latter at s42~%asiSQ & bbl, without sales.
Wheats are doll and but little inquired for, tbe millers
only buyiug in small lota, and about 1,500 bus hare been
sold at 1309135 c for reds, and 14Qjrl45c for whites, in
cluding very prime parcels at the latter figures. Com
has declined, and buyers only offer 77973 c for yellow,
afloat, at which figures some snail lota have been dis
posed of. Oats are steady, with sales or 1,200 bus good
southern at 35c. Bye—The distillers are buying at 73c,
but there is not mach offering. Holders of cottca are
not pressing their stocks on the market, and tba busi
ness is very meagre. Groceries and provisions continue
at a stand, and there is no quotable change in prices,
which are nearly nominal. Seeds—-Nothing doing to
establish quotation* of cither Clover or Timothy seel.
Whiskey is selling slowly at 24c for hhls.anl 24525 c
for His, and the former scarce
PHILADELPHIA CATTLE MARKET. —-Movnir,
Sept. 28.—Tho receipts of Beef Cattle this wetkwero
moderate, amounting to about 1,230 head. The demand
was less active than last week, and a much larger num
ber were left over than for many weeks past, consequent
upon tho unsettled state of monetary affairs and tho
general distrjst in regard to tho futare. Prices fell off
about 25 cents 100, and the market closed rather
spiritless at $S 75 for ordinary quality up to ?11 25 for
the best Cows were very dull, and prices were hardly
up to those realised last week. About 200 head were
offered and partly disposed of at the following rates:
Fresh Cows.
Springers...
Dry Cows...
The arrivals and sales at Singer's tTaiou Drove Yard
for the week were 2,C00 Hogs and about 50 Horses. Hogs
were not quite as brisk as last week, and sold from
$9 50 100 lbs., net; about *OO were left unsold. At
the close the tendency of prices was evidently in favor
of buyers.
BREADSTTTFF3 AT CHIC AGO.-RecelpU 0 f Plcur and
Grain for theweek ending September 19: Flour, 9,395;
Wheat, 5C3.238; Coro, 127,€5*3; Oats. 44.107.
Exports of Flour and Grain for the week ending Eapt.
19th ;
To Buffalo. Oswego. Other Ports. Total
... 1,476 .... 5.300 6,778
.... 88,100 160,295 208.100 455 553
....104,600 13,000 41,056 151.586
... 11,000 11,000
TOTAL FOR Tff* SKISOX.
Flour, bbls.
Wheat, bus.
Corn, bus..
Oats, bus...
Flour, bbls 55,343 847 35,424 92 614
Wheat, bus 1,622,181 1,326.351 1,105,630 3.954162
Corn, bus 3,932.095 1.262,918 1,017,533 6,202*896
Oats, bus 160,400 $6,259 216,5*
Flour and Grain is store, Saturday, Sept. 19, 1867 *
Wheat, Spring, bu 5.434.530 | Flour, bbls
Red. bu5..,.’16,967 1 Com, bu 5........ hs**tt
“ White, bus. 3,602 j Oats, hoi it^soi
Cash.each.
..$352510
.. ISa 35