The press. (Philadelphia [Pa.]) 1857-1880, October 09, 1857, Image 2

:;p t'
FRIDAY; OCTOBER 9, 1857.
Dl' On our First rage will be found edito
rials on The New• Religious 'Feuds in Ireland,
Our Judicial;Candidate, and Mr. Gansa.Ps Eli
gibility; Reports of yesterday's proceedings
in the different Law Courts ;, and General
News.
THE, EFFECTS OF THE PRESENT TA.
RIFF POLIO:
-The greatest calamity that could befall the
business interests of this country, after that
which has overwhelmed them, would be the
introduction Into the remedies for present suf
fering of exploded theories in political econo
my. The sttempt to charge our present diffi
culties upon the tariff policy of the Government
is a case in, point. Aiming, 'Criaetices of
this attempt, take the following paragraph
from a late article in the Philadelphia North
.dmerican :
4 , The opening outof railroads all over the Union
gave employment to our mines and mills, and thus
temporarily averted a calamity which, meat, haie
visited them but for that tbrtunate resOUrce. Yet
during the ten years beginning with 147, when
the present tariff went into operatien, and down to
the report of Secretary Guthrie last winter, over
two hundred millions of dollars of the manufac
toms of iron and steel had been impoited into the
Visited States, paid for by the bonds- which are
now pressing us, and' in part by the gold which is
in the vaults of the Bank of England.'' Suppose
that iron and steel had been nianefaCtured t
heme, as it might have been,if the tariff of 1842 or
the principle of it had' continued, doss not
every one' see that so'MuCh wealth' would have
been added' to the productive industry, of the
country, and an important branch of manu
facturing advanced to a'. - condition in
dependence, by' : which iron would' hive 'leen
nbeapened? More Mai diinlalf ot,the , British
jails imported havainried out imPerNot,,thiMaild
ire vastly, to the *original mist at the amuse of our
pockets. All of a sudden a oheekis given, to these
enterprise by a monetary stringency, and the firm
abets are a compulsory stumensiou of Work at the
mines and mills, and the turning out' ettliousands
of men pet at the &Hansel' of winter. ,What is
true of iron is also true of the woollen, cotton, and
ether numufactures. So long all 'Money was ok:
tamable at any cost, they wire willing to "go :on.
Now that eentraotions have come, they are &e
-pelled to stop. : This, is the inevitable consequence
of an erroneous policy, and would haVe happened,
whether the gold of California bad been discovered
or not."
We must recall to the recollection •of Our,
cotemporaty one or two facts that seem to
"have escaped. him. No part of the manufac
turhig interest has professed more Satisfaction
with the exiethig duty,upon iron than the mann
lecturers of iron themselves: This has been the
basis of their constant appeals to Congress for
the last Ave or six years; 'and eo fairly Wits this
appeal made that it was supported by. 4 large
iturnher of Democrats; especially a:gall:nit the'
.
efforts to repeal the dation refit:out iron o f the
Western and New England Representatives,
(who, be it, remeMberedk ,
lain, T
two on
greepes, were 'mostly, membere of the Repuhli-,
can party.) Thus much for, the political as.
pect; nowfor a fact still more pertinent. The
North ..dneriean says that, ccsappesing iron
and steel had been manufactured• at home, as
it might have been, if the twig . of 1842 .or the
principle of it had eonthmed, 'demi net 'every
one see that so much wealth would :have been
added to the productive industry of the coun
try, and - au important branch of manufacturing
. advanced to a condition Of independence,, by
which iron would have been eheapenedp , The
North
4 merican does not say direollY thetthe
United States Manufeetnrere eonld , have ; sup-
plied the enormous . demands .1 of the ,railroad
companies for railroad Iron, but this . evidently
felts . We Assert, and, app eal to the
impartial judgment of any: manufacturer of
railroad Won in this State in supMirt blithe de
claration, that even ittrar Manuftichiturs could
haVe made this railnied was not
- money enough in the 'United States' to pay
Amu' tot' It; and they, not exist
'upon credit. 'The London Times, of Septem
ber 10; explains. to us the_prodess..by - rwhich
railroad iron was purchased shimuir 3
AnYlipi,ioVable member of IcetuPtese or As
sembiy, coming over to England; kint,oalito make
a demand large enough, and , he Oonidget'ailhe
wanted. Re would go to a leadinelfon-malar,
:give a heavy order for ,ialls; peiji ',bleed thirty, or
ferry per, rev : above their value, -and trust to
;this gendstruiri for the dispeeeOlci;euelOrehrs
and others tempted by a nidler'pes eentage of
.eueli, amount of stocks and bond's; as Might be'
deemed appropriate for the Moment. , The next
and eaelv entieeeding year the ' proceas might, of
' , course, repeated, since 'the prosperity of the'
-part already, constreoted, rendered eatemdons of
all kinds indispensable., Bptit was toleve beeni
supposed that experience dearly purohased moat&
• at length lowa generated some: prudence:: Ap)
parently, however, our, people are incurable. The
last railway concern that has broken down is the
Miohigan Southern, and it is said that only a few . ;
months have 'eliPsed 'alio° . the President paid
visit . ,to the English stockbolders,, and induced
them considerably to extend their commitmente,,",
'What world have been the condition of our
mannfacturera ofrailr oad
, Iron, hid they granted
the' credit 'which the railroad companies
tained in Europe? the first place,: they,
could- not have 'granted it because 'offthe
sense 'of capital; and,tu the fnert plaee, had
they done so, the calamities under which thin
country suffers at present would hare been
nothing to . the, catiL*PPlleAkal.:Fin4.
overtaken almost every Mock:, of industry
with suss 'a' weight of iinprodtipthie and um
available securities in theilinulsor ;oar capital;
' lit. We leave out of , this view the , question;
whether our manufacturers Could have . ' madli
' as mrieh'iron as wast.etitired'iktliii,:rallroads±
The piain'fin,t is; the Present:Mike • is the Qff?
, -spring of that railroad Mania, that Wild advert+
turn, in the purchase of Western lands;that ex ;
'
trsviiginei in all kirids Of bitildiligi;Which;
combined, exhausted the precious, metals of
- lbel.tiantic - section of-the country', abiorlied
,Criidit; caused our banks to:psi:laud oil;
Merchants to ,extor4 their, operetiene , ;-a series
of events before which no nation could pave
maintained 'Melt ' This, it rif ilte - in' is the
erdetinn 011ie trouble, as it must occur to every
faimnindeti maw - • ,
WESTERN FARMERS' IMPOLIVV,,
Tb! °O°ll#lati Pas. ',a' a n d
vrell-timed article on the important: question
of fiermerit;holding oh `, their:' . liroditee, and
pithily ae 'Wflf ft ',pay t ::,jt,40410 . 14,:ns
.inatter_of undoubted fact, that the?fainuara are
so bolding onto their grain, in,,thelhmlet
*ter prioei, and adds ' 4
"Thin, of Doane; has the tendenoy to prevent the
oonntry merchants from defraying hie
-thrrerhelearde deride from wirordhe pnielieses, th'e
Uttar beeomeirinailtent, and. is "
enable to m eet hiP
and thug 'the entire, ineetLinerknf,tr43
bemuse_ diairringed, tied hoittitatiihddiatiete
nue* iu iriery departmeat.l!
If-ffreaera think that, 'Pliesuallk
great harvest, not, only here but all . over the
world, 'they ate , , obtain' stitY. thh
Flom they got when the yield,ws# either par
tial, or a failure, they are , greatly mistaken.
Plenty brings down' litiCetl, and the idea 'of
bolding up in the hope of getting bigh"rates
by and by, rather than obtain fair rates now, is
absurd. ' , err the ;agrieulturat interestrwere oat
4 - 01" debt, they might,. pursue &hi suicidal
"policy, if it so. pleased them.: But theY, lie
under a heavy accumulation of debt, and were
allowed all grace as, to" the , payment; in the
hops that the harvetivotl4l4iPif; the means
of liquidation.,
The Cincinnati Times, noticing the *Feet co
time holding back 'oti the wholdialeltade o
the West, saya
"While we know how fruitless it may be to pro
pose a remedy, we will submit that the 'remedy
**stably lies in the 'bands of the merehinti them
selves. She season is no at band when the ml
ti" dealer must 'renew his' stook, sod itwithout
funds, he must perdue were he has formed:* dealt.
When heptesentshimselfat thenstablishment of our
wholesale te erehent, lot him be given to understand
that a fair proportion 'of his fernier lidebbidners
must be paid ; that it is not a Matter of chotop but of
necsmity with his or editnr that this sbould,he done,
and that under
• such circumstances they wtll,be
happy to •continue , the commercial' relationship
'formerly between Ahem.' This *should be 4Coom
,liissid movement;`one , entered' into for !inniusl
benefit, and faithfally eahOrealo." * ,
The holders of grain' knew,Ao a nicety, so
-„
closely may the caldelaWal be madri . ,:tho exact
amount of grain which required' in
Europe—radditional to, the quantity :supplied
tip the abundant harireat; of tllikautMm. As
— we have'tdready shown, -the :supply. will be
e7iolusively reqiiired. by tngbinci 'end
leay =be estimated- at. 9,000,009 4i:tenors, of
wheat, 12,6:10,000 quartet of mini, and
ti,600,01)(1 qua:dein of barley,--;estinnite: thcao
,reapontively ' et ` thirty; aliteen; , ui' ; twernty
Aldliings a -quartwi and ~tho • Tatan will i bn
deducting a'-`2air diannuni for'the
probable chance of a groat fhll in prices next
spring and summer, if there be symptoms of
another good European hermit, and, wo may
put £2o,ooo,ooo—equal in round numbing to
sloo,ooo,ooo—as the amount Which' England
may require in the next-nine iimonths. It la
the fault—we had nearly xaid,tho crime- - of
our farmers, if this amount, or the - groatCr pait
of it, does not come into this country. And
in gold, too, for, our stocks from abroad are so
heavy that we cannot import much more, and
must have_cash. .„
If corn=growers or corn-dealers think that
England must have grain from'abroad, they are
' greatly mistaken. England always has a much
larger quantity'of grain on hand than she ac
tually,requires, for she has long been in the
habit of having a large stock 'Of grain before
the harvest—on the chance of a failure of her
crops. That stock, from the produce of 1856,
is so heavy now that it will constitute the main
consumption of the remaining three months of
1867. If' prices, range high on this side of
the water, England, rather than pay them, can
run, the not very heavy risk at keeping the
stock of grain low until the and of the harvest
of 1868. She will do it, too, if pushed to it.
took at the present prices of grain in Liver
pool and in New York. By the last quota
tions, wheat has selling at a dollar and a half
per quarter lower than it is now selling for in
New York.'
This
This fact alone is enough to show the falla
cy and folly of dreaming of holding on to
grain here, on the remote and visionary hope
of getting famine.prices by and bye, in times
of unusual cheapness and abundance, in for
eign countries. No—farther:B must submit to
lower prices, and they can afford to do, so, so
vast is the yield of grain with which bounteous
Nature has liberally gifted that.
RAS LVCKNOW FAIMEN.I
It is stated, in a New York -paper, in a
,Calcutta letter ofAugust 10, that "Lucknow,
the capital city of Oude, has fallen; all the
:Buropeans.have bean massacred by Nenajee
Sahib ; 'and the relief force' under General
Havelock haie been obliged to fall back upon
Cawnpore, terribly decimated by the cholera."
And, it is added by the special letter-writer who
communicates this' news, that it arrived from
the interior on the Saturday previous, but was
kept back ftoin the newspapers and - the public
by 'the Government. That is, it reached
'Calcutta ori Saturday, , August 8, and was
kept back until after the overland mail had left.
,flut if the letter-writer Was able to send off
his missive by the after packet, which would
overtake . the ~mail-steaniero off Sanger Is
land, Lord CANNING would also have been
able to mite to the British Ministry. If his
Lordship had such a chance and missed it, he
failed to perform his duty.. If he did write,
'the British Ministry must have 'given imme
diate publicity to the news, however disastrous.
Thoy did no such thing—most probably be
cause they never received - finch intelligence.
We wholly discredit this dreadihlly exclusive
news from India. If We might venture a
comparison, it is riot much unlike the cele
brated Victory of Sleevegammon, with which
another New. York journal startled the United
States'in 1848, ' ' ,
PUBLIC AMUSEMENTS
"Camille" :Was last night repeated to a very
crowded houea,at Wheatley's Arch-street Theatre.
Mr. Davenport Is 'not seen as advantageously as
usual in the character, of Armand. The' only
really good point he made was at the close of the
seemul:aot, where he showers down bank-notes on
Camille. Mee. Thayer was lively Without, as
Mr. J. S. Clarke was with exaggeration. Mrs.
Hewers perforated the part of Camille with won
drone delioacy, tinth; and power. She was ex
quisitely costumed: '
Mr. and 'Miss' ltichinge are playing at the
Walnut street Theatre. This evening they ap
pear in the play or‘Tashion." Mr. Murdoch
takes his benefit, and closes hie engagement at the
National Theatre, this evening, playing Beverly in
" the' Gamester," and Duke Aranza, in " the
Honey Moon." in both pieees he will be supported
by Mrs. Hudson Kirby; and Mr. H. Watkins, an
auther-actor gieat - and versaiili
ty, will
take the part of Jacques, the Moak puke.
At the ioadenaY,Of Mosta, this evening, Doni
tetti's opera, "L'Elisir :D'Amore," . will be pro
duced, for the first time this eettson. Signor Tag
liotico; thabasso singer, Wilt vitae his debut before
an - Amerlean' audience: The 'cast also includes
Madame fi t assanige,Sigitora Tagliefico tiad Signor
Prigneil. = -
I,S
THE LATEST NEWS
BY TELEGRAPH.
Financial Affta
- • OBISIS
Now Vona, Oct: B.—The pressure lathe money mar
bet-has been lutende,and the &Urea announced this'
morning were "follow ed'-by the eutplualon of Messrs.
Bowen, McNamee, to C 0.,. while seventlathers followed.
The day closed my gloomy, and there are wad fore
bodings for the future., . -
The Central Bank of Brooklyn is discredited.
The sheriff, this morning, seised the books end wipers,
of the Milwaukee and mississippi Railroad, in this city,,
at the instance of theldilwaokee Bank.
Fallaire at , Aletatidrla, Va.
.
ALEXANDRIA; Va., Oct. Fowle, Suowdeo,
& Co., a large banking-house of this city, have sus
vended,
The long-eitablished mercantile firm of Ponta& Co.
are in no way connected with the above finn.
, Failure at Cleveland, 0.
Ott:vitas:o, October 8. 7 4. Morrison, broker, of this
city, failed to-day.
Meeting at'Hatrieblig in ram* of a Relief
Law.
Itaaetaiosio, October 9.—A. largo meeting was held
at the court house. to-ulght, Ex-Governor Porter pre.
siding. Resolutions (were adopted, ening upon the Le.
&Mature the passage of a relief law. Messrs. Roberts,
or Pittsburg, McMichael, of Philadelphia, and Pemsen,
of Harrisburg, spoke ably in favor of the movement,
.The meeting le regarded by those In favor of Socha law
as a powerful,demonstration, „
From lifskusair-IP,rogres of fhe Election.
Sc. Lootti 3 Oct.B.*A. gentleman who felt Leavenworth,
anuis, , ,m Monday at noon (the der of the election > )
nave the eleetlon.was proceeding very Slowly. The frees
State men had complete, possession of the polls, and
were casting all the votes. If the entire vote was not
polled on Monday, the election would be continued on
Tneeday: , _, • _ ,
• At Delaware, the .freasState men h ad Also control of
the polls. It wan conceded that Mr. Parrott, the free.
f3tate candbisfe for Congress, would have- a majority
over Mr. Itapeon, his competitor.
NO disturbance had occurred up to'i2oon.
Partial returns of the election may be expected thla
evening. • - .
„ Later from Kriusap.
Br. I-Mits. October B—Evening —The steamer St.
Mary, [rem Leavenworth, arrived at Boonville to-night,
The oilleers'report that when they left; en Tuesday
morning, the'returnareceived placed Mr. Ransom ahead
of Mr. Parrott, the freeDtste candidate for Congress;
and that the Democrats were.celebrating their success.
ar. Loves, October 8-10 o'clock P. M.—Later advices
,state that tie Republicans were two hundred ahead at
Leavenworth, and the Democrats three hundred ahead
'at Wyandotte - The intproselou prevailed that Mr.
Parrott was elected - to 'Congress, and that the Demo=
crate would hate a Majority in the Legislature.'
Earthquake in Missouri and Illinois
Br. Louts, October B.—A violent shock of earthquake
occurred-here about four,otelock this. morning, and
about seven minutes later another shook was felt, which
WU, however, less 'severe, ; They were ancorapsoled by
a deep and, heavy rumbling, making the most substan
tial buildings tremble, and_Overtumaing small article's
'firth& divellingoof nur citizens.'
'
The earthquake extendetlo" Springfield,
'where the shocks were felt distinctly.
' - GENT/ULU, niitiOhli October B.—Abls morning, be
t Ween four sod Orel o'clock, three distinct shocks of
,earthquake were felt,here, at Intervale of about eve
minutes between them. „The first shock was so violent
that several chimneys Were • demolished, and our citi
zone were monied teem, their slunibers, and much
plstmed'hy ; the unusualocenreence:'
' • - 'Neer!firlsitis llinirey'Harket.
NNW OnizAtts, Oett 8.•.:-Ifointy`:coAttiniei tight. grit.
elaiS pethirleing worth *Mad dr cent, a month. No
fillures of consequence have yet odeerred. There le rib
money for'exchange, and no movententis possible, until
sterling can bring cash In New Yoe*, but banks are ex
tarding every faelllty , to factors. • All departments of
business is cheerful ; ,Freights are it a stand.
Stetnnitdp' Tennessmee
Nsw OsLustre, Oct, B.—The steamship Tennessee,
'which sailed from New . York lately, supposed to be
bound on a filibustering expedition, bas arrived at this
'port: She is advertised to run to Vera Oruz.
Resulting Murder near Pittsburgh.
Pitrinmair, Oct. 8,--A revolting murder was com
mitted near this city last night. Three persons entered
the, hones of an aged, German, .named Wiseman, who
lived with his daughter in a seckide4 opt op Zest Liber
ty, road„ Pittsburgh. Pittsburgh. Their object is supposed to
have been to cirdunit a rape ou tbe dingliter. The lat
ter wee the first to discover their entraisee into the
house. Mr. Wiseman, while protecting her, received
several blown with a heavy iron bar on the head, frac
turingbis skull. Ile died shortly after, ,
Three men were arrested to-day, on suspiclou of being
the perpetrators of the murderous deed.. Their mimeo
are lamee l elly, John Richards, and Daniel 'Denny.
Tho circumstances strongly implicate them. '
; Arxtvat of Alm Niagara at Boston..
Bonus f October 8 —The Royal Mel Stemphip Niaga
ra, from - Liverpool via Halifax, icith the malls, to the
Rath ultimo will slain at her wharf at 10 o'clock 'to
-BEOOIIO bIiSPATOIt.
linwrox, OctoborB-1 1 :1' o'clock —The Niagara to de.
tabled below by the ebb tide. She Will probably come
op of midnight. ' ' " '
i s "sienna.
The nears
AISOULITA Ont. 8.-4 he returns' from the Eighth eon
iremional 'Markt 'live A. H.' EtePbello, the Demo"
crane candidata, drnafority of 1,261,- In the Mill die;
triet, 'James I,nokson, Democrat, is certginly elected, i!1.9
maJority being et least 1,000. . • .
•
ithileoad
Aindent. 4
nopii"..2 N. 0 0. tocanwtive 'On the Nevi
-York ilia rteurOad rim off the track this Morbingf
'when near this city. Brien .passengars 'were setlollll9
The train 'was heavtly loaded svith visitars to
the State Bair. Niqerson wee killed, - -
' _ Vermont Legislature.
Monw
eeee, Vt. October B.—The Legielature or tine
State coeval/ad to-day. George F. 'Edmunds of Bur
hogtoa,,was cheqen gpeeker Of the The
Qo
vereor's menage be received to-morrow.
United States Senates, trots Tennessee.
htssErvitte, October 8 —Andre* Johnson-bas boon
elected es succeseol , to Eon, d. 0. lanes, in tite United
States henato.
. Alarkp . 4pyli4egtaph.
. .
, .
Now °ammo, 00,7,—pottom—Eialos to-day s 2,600
.141e5. , gslees are irrogulai; Vim tooted at AS 90,
Cora has p deelining,taidepay: Red heat,,quotl4,st.
;MO.' Allied Corn 'No.' Urd bbls 7Mo; • 1 •
FROM iIiiRRISBURG.
The Special Session of the Legislature
THIRD DAY'S PROCEEDINGS
RO,ll Otri SVEUIAL RL•'PORTERB
(Exclusive Corrempoudence of do Prom.]
HARRISBURG, October 8, 1357
The Senate met at 10 o'clock A. M.
The Journal of yesterday was read and approved.
The Clerk of the House presented a Joint resolution
relative to the exhibits of the several banks of this Com
monwealth, passed by that body, for the concurrence of
the Senate: - - -
Mr. Weiser presented the proceedings of a meeting
held in the cit of Philadelphia, which ows the
grounds assumed y
by these who favored the issuance or
relief notes and shinplasters; which were read, and
then referred to the select committee.
The SPRACER laid before the Senate a communication
from the State Treasurer in reply to the resolution of
the Senate of yesterday, calling on him for certain in
formation with reference to State funds. It recapitu
lates as follows :
Amount deposited with banks, saving insti
tutions, &c $308,179.38
Bank notes 31,485.00
Chock—J. IC Baum, collector of tolls—de
posited in bank Oct. 7 1,700.13
Relief notes 22,514.00
Coin 817.30
Depreciated batik notes " ' ' 1,079.00
Payments on account of appropriations
made to public officers, &c , for which
• receipts are held,' to be hereafter set.
tied in general account 20,435.42
Coupons 6,275.00
Paymonta made since Ist instant . 53,170.28
On motion of Mr. WRIGHT, the communication was
laid upon the table, and ono thousand mare copies were
ordered to be printed for the use of the Sedate.
Mr. BROWNS presented the memorial of merchants,
manufacturers, and mechanics, and other business men
of Philadelphia that thebanhs be protected against the
penalties of their suspension of sPecie payments; which
Was referred to the seleet committee on the subject.
Mr. FLINNIICEN read in place a joint resolution for
the payment of printing for the late Revenue, Commis-
Menem which was referred to the Comm:ttce ou Fi-
Dane°.
Erections
STR/118 reported back from the Committee on
Elections„a Donee bill relative to a place for holding
electioni id Scranton ; which was laid over for future
consideration.
Mr. lisox presepted petitions from Montgomery coun
ty, relative to the present crisis ; which were referred
to the select committee.
'The Senate restarted the consideration Of the bill re•
ported from the select committee on yesterday.
Mr. WlllOl{T moved to strike out these words: 4, dnd
this act shall extend also to all banks, saving, and trust
hasarance companies and corporations with banking pri
vileges, chartered or re-chartered under any law for pe
riods hereaftet to commends, and , to the payment of
stock to all banks ineorpo!ated by the Legislature at its
last :Maslen."
Mr. Sonata stated that the amendment would place
the banks chartered lest winter in a condition entirely
different from older banks. The latter are allowed to
go on without a specie basis, while the former are not
allowed to go into. operation because they cannot pro
vide a specie basis.
The gentleman from Philadelphia stated that the
general banking tempt 1850 required subscriptions for
bank stock to be paid in specie, and In that statement
,the gentleman if mistaken. •
, Mr. WRIGHT made no such statement.
?dr. SOOTHES would vote against the bill if the amend
ment were adopted, He meant to protect the country
as well as the cities.
Mr. Wizarria presumed that the object of the amend
meat was to destroy the banks chartered at the last ses
sion of the Legislature.
Mr. Warm stated that such was not his object. If
be could do that he would be glad, but such was not his
design. His object was to prevent those banks from
going into ealetence. during MO period of suspension, in
the event" of the passage of the pending bill. He de
faced to prevent them front commencing the banking
business on a paper basis. His amendment would not
affect their charters. They would begin when specie
payments were resumed.
Mr. Mumma said that the gentleman did not mean to
wipe out the charters, but he meant to throw those
charterb in a condition , of abeyance. Why pot give
them the opportunity in the interim to go into opera
tion? Why throw them for months into a' state of
inactivity? If they go into operation it must be on a
specie basis. They, have a lesson before their eyes in
the present monetary embarrassment which they
will not disregard. , They must start on a ba
sis of coin, and coin alone. Give them the ad
vantage of their charters. Some of the banks which
went into operation under the law of last winter, pay
specie, while older Institutions have suspended, The
amendment, ih his ;opinion, would defeat the.bill, If It
were agreed to, No distinetiqu should be made between
the ola end new banks.' In their charters they have
vested rights, of which they should not be deprived.
Mr. Warm said that he had been misapprehended
to his remarks and in hie amendment. His amendment
did not affect the Allegheny Oity Bank and the Citizens'
D et. eposit Dank of Allegheny, but only those not organized
y '
Mr. GAZZAPAI differed from his colleague, Mr. Wilkins,
not because of the weight of the representations from
the city, but because be believed the gentleman from
the city (Mr. Wright) was right, If these new banks go
Into operation It must be on an irredeemable paper
currency. This Is their misfortune, not to be able to go
Into operation on a sounder basis of smocks paid into their
vaults.
.This tegislature is not accountable for this condition
of things, but the monetary crisis in the country. Jus.
tree, not oniy'to the banks in existence now, but to
bank-noteholders, stockholders, and all parties doing
business with the banks, demands that there shalt not
be created any more paper money, to be thrown into cir
eniation,,,, He was in favor otthe bill generelly ; he de
sired the relief of the community.
Mr. Tantlitim said that some of the banks, chartered
lent winter, had paid into their vaults a portion of the
amount of their stock; seine of them had received a
large rmrtion of their capital stock. If they are not to
have the privilege to receive the remainder, what hes
been paid in will be tied up until after the present sus
penaion--one, two, or tbrbe years hence.
Mr. Kiturrothwould state that If this bill were for city
bankS atone; he was against It. Those effete banks of
PhiltdeiPbre Were first to suspend: The amendment
was rx 1 ,03 Vita° and cowardly in its character. They
wend ail in one boat, and' if one was thrown over, all
ahould Oak, If we foknot Oonwhtetod, they .4thal), not
have anything.
Mr. Oat/in wantodto know who they meant?
Mr. KiMatteneit moil the city Was, If the gentle.
man
Mr. Oaken was opposed to the bill. , I
Ur, Ettuthasa th ought that was a responsibility for
the gentleman.
Mr.-Casse.wouldtakelt.
Mr. MUMMER believed that :inlets conservative men
stood by the paragraph proposed to be stricken out, there
would be danger fa the bill.
Mr. WRIGHT did not want to include in his proposition
banks rechartered btu:twit:ter. lle only desired to pre
vent from going into operation banks not yet organised.
lie moved, in addition to his amendment, to Insert this
proviso :
uProvided, That the provisions of this art shall not
apply to banks, saving Institutions, insurance 'or loan
companies, or other corporations not already organised."
The yeas sod nays were required by Mr. WIIIOIIT and
Mr..sol7lmari, and were all fellows, Sin;
YEAS—Megan,. Brewer, Browne, Ely, Evans, Fetter,
(lesson), Ingram, Knox, Steele, Walton, Welsh, Wright
—l2.
NAYS—Messrs. Poffey, Crabb, Ormumell, Flenniken,
Frazer Gregg, Harris, Jordan, &Slinger, Laubach,
Locale,Slyer, Schofield, Sellers, Shuman, Souther,
Straub, Taggart, Wilkins, Finney, (Speaker)-20.
So the amendment was rejected.
Mr. Witxtue would have the assurance, after what
seemed to be the determination of the Semite on the
subject, to move to 'extend the time of suspension until
the 4th day of 7uly, ISIS, Instead of the first Monday of
February, 1868, as axed in the bill now. Ito was em
boldened todo thialy the tie vote on the motion to extend
until the fourth Monday of March, 180. He wished
the resuinptlon of specie payments to Mire place on the
4th of 'duly, that glorious day of our redemption limns
foreign thraldom. He wished that day to be the day of.
Pennsylvania's redemption from disgrace and dishonor,'
brought upon her by the conduct of the banks.
Mr. WRIGHT stated that 4th of7nly was not a banking
day,
Mr. Wfurins modified his amendment so that it would'
read, lot of jells 'lB6B. - Ills object wee not to relieve ,
the banks, but the laboring cansmunity. Ifs, stood not:
up for the banks; no—be had lett his hom with deep
indignation against the banks, because of the din-:
grace; and dishonor they . had ,brought upon the State.'
At this Extra Session they could not break asunder;
their connection with the.banking system. The evil is
here, and it must be taken as It is. This is no time in'
which gentlemen can talk of Sged principles on banking,
.currency and cattliViget . They were nat to establish
the system now. Enough had been done for the hanks--
more than he would have asked forthem. Had he consul
ted his own feelings,he should hare named an earlier day
for resumption; but it was for us to look a little farther,'
and consider w h at was the Interest of the great mass of
the people. Seriat,ors bad shown a willingness to grant
favor to the • banks, and he would now call upon
they to go; a little farther and do something
for tine people, epd especially the laboring class.
'The banks had the abilify Within themselveitheir
means were mainly contained In their ;vaults, or, at
least, could soon be made convertible, if they saw pro
per in to do ;• butwhere were the abilities and resources
of the people—of the merchants. whose means were in
the hands of their customers, scattered all over the
country, and It would require a much longer time for
men of bustnem colle4t their abilities? All that was
wanted, however, Was time. God had overflowed the
land with his bounty, ,and all that be , claimed was aufn
dent time for the country to avail Itself of *age pro
' spective advantage, • ' "
Especially wig this delay necessary for the men of
the Western part of the State, where their products
were usually of that cumbrous character that could not
be got to market by railroad speed. Ile was willing to
restrain the batiks, and, no far as he conid, to correct
the system. He thought It was particularly important
that the day specidg for resumption should be at a
time when the Legislature was not in session
• Mr. Wain= differed from the Senator from Allegheny.
He thought the time bad arrived to let the banking sys
tem wind Itself tip in its own way. It bad now virtually
exploded; sod why:try to defend what .experierme had
taught us was !nogg tbrOligbeut? Relief be wee witliPif
'to grant; but be thought we should not go on any
furtiter.in tits Mann beaten *nick, but rather suggest
some new. wholesome remedy. As to the prolongation
of time asked for; it Was, he thought, beyond the power
of the Legtslilhare do gnat. , ' •, • •,,
Mr. Queen said the causes alining an' one financial
embarrassments weed not sudden,bpt.had been gredua ly
colinippupoa wilbrougtk a period of years, and he
thought it could forlhat reason not be remedied in
day. Here he recounted the historical facts of the ees
pension of 1837.
The banks, he said, could not, be compelled to do s
thing which was not in their power.
• If it took live years fren ISM to 1831, fora complete
resumption in that 'crisis, he thought It was folly to ex
pect that it could be accomplished now in half as many
months.
The spirit of railroad and land speculation bad,
doubtless, brought about the effect now much to be
deplored. lied corporations been restraind from de ,
Glaring enticing ami'etimulating dividends, he thought,
much of these liblionities might have been averted
The yeas and nays were required by gr. WRIGHT and
Mr. Wthains; and were as fellows, vls :
lase—Messrs. Coffey, OnthbFrazer, Gattam, Gregg,
Harris, Jordan. %Winger, Lew is,l &Akre, Souther, Tag
gart, Wilkins, Jimmy, (Speaker)-14.
NAYl3—Mewls. Ernmar, Browne, Cromwell, Ely,
Evans, Fetter, Fletilkea, Ingram, Eno*, Limbach,
Myer, Scofield, Shuman, Steele, Strunk, Walton, Welsh,
Wright—lL „
So the amendment was rejected. •
Mr. Corium moved to strike out the first section of
the bill, and to insert in its steed, the bill of the com
mittee, with the words, • " Second Monday of January.
1899,' , in place of " First Monday of Febrintry, 1890. ,
and the following proviso added:
~ Provided, That Ili banks, Saving, trust, and in
surance comrade, or corporations, having banking
privileges affected by the provisions of this act, be, and
they are hereby, authorized to charge at the rate of
seven per centom per annum on an loans or discounts
Of every kind whatsoever which they shall hereafter
make, and they shall pay into the Treasury of the State
ono per cobbles per annum of the proseede of all loans
or discount!, which they than hereafter make, Which
payment shall be made quarterly le cub, or in the
stocks of this Commonwealth at par Promdedfurther,
That the stipaletions of the foregoing proviso shall be
of force and effect until the whelp of the present M.
debtedness of the Commonwealth is paid end no longer;
and the payment or the mid indebtedness •of the Com
monwealth 41441 be aacerteined and tired by the pro.
detention of the Ooveropr In a manner now provided by
the fourth motion of the act approved lOtt, day of
April, 4. D. 1849, entitled 'Au act to meats a sinking
fond.' "
:Said:that we were la the midst of a greet finsAtial
Alt the interests of the Commonwealth are in a
stile depieision. ' The people are bound up with the
' banks: ' tells a one and you relieve the other; and, un
less this relief bo stinted, ruin would stare everybody
throughout the State in the fact. The present condi-
Cob of Ogre was brought about by the tariff imposed
on the people for th e interests of the South.' They
owed Favors aotas llve hundred millions of dollars,
caused by the importation of necessaries and luxuries,
which ought to be provided in a home market. To pay
this debt-the go ld of California and the substantial
money of the country went abrued. Me would net
assail bay party
• They were here to legislate, not for the becks, butter
the relief of the people. If the ,fact stares the banks
in' the fees that, on the first Monday of next Fehrtua l
they mud resume ape* payment or forfeit their char
ters, they would contract more than they ha's* done.
The time ought tii - be•xtertited. He bid been told that
THE PRESB.-I ) IIILAIAti i iIIA, FRIDAY, tat'rOnEß 9, 1857.
bullion; men of Philadelphia owed the bunko thirty
milliona of dollars.
. • •
If the banks are forced to call that in by fixing the
expiration of the suspension in February next, ruin
must bo the result. Eis sae a rural constituency, and
would feel the consequent embarrassment as much as
the people of the city, 'With the city representatives
was the responsibility.
The proviso he proposed, he believed, sprawl to tho
Judgment and good sense of Senators. It in UreS neither
the banks nor their customers, and the S to is bone.
fited.
Mr. Caton moved to emend, by striking out the Bret
section of the amendment, and in lieu of it, inserting a
provision legalizing the suspension of specie payments
up to the 24 Monday of January. 1850.
Mr. CLODS expressed himself satisfied. then
submitted an amendment as a substitute for the first sec
tion, legalizing the suspension of specie payments, and
fixing the day for resumption on the second Monday of
January, 1859, but subsequently withdrew it, giving
notice that he would renew It.
Mr. COMY'S amendment was rejected—yeas 20,
nays 22.
Mr. Mrss submitted an amendment authorizing the
banks to pay out tho notes of speele-paylng banks of
other States of not loss than five dollars.
Mr. Ilsowzra opposed tho motion, and Mr. &minx
supported it.
The vote was taken, when it was nortived—yeas n,
nays 12.
Adjourned till 3 o'clock this afternoon
APTEILNOON 1368810 N.
The Senate met again at 3 o'clock.
The consideration of bill No. 1, reported by the select
committee, was resumed.
On motion, the vote on the first section was taken ;
and it was negatived—yeas 15, nays 16.
The following is the vote taken :
rEAS—Messrs. Frazer, Gregg, Harris, Jordan,
Blllin
ger, Knox, Laubach, Lewis, Myer, Sellers, Souther,
Taggart, Welch, Wilkins, and Finney (Speaker)-15.
NlTS—Messre. Brewer, Browne, Oolfey, Oresswell,
Ely . Evans, Fetter,Flenniken, Oaizam, Ingram, Sco
field, Shuman, Steee, Straub, Walton, and Wright-16.
Mr. 00VVICT moved to reconsider the vote. Agreed to
—yeas 20, nays 12.
The first section being again up,
Mr. Mien moored to extend the suspension of specie
payments by the banks to the accord Tuesday in
April.
The motion was lost by a tie vote—yeas 16, nays
16.
Mr. Wnionr spoke against the section. Ile said the
bill will do no good. The banks which had suspended
specie payments had absolutely forfeited their charters,
and they could not bo restored by an act of Assem
bly.
6/5,261 61
Mr. DROWSE held a different opinion. Their charters
were not forfeited till proper judicial proceedings were
had.
Mr. WILKINS and Mr. CansawaLL concurred in this
view.
A vote on the first section was again taken, and it was
passed—yeas 18, nays 14.
The vote stood as follows :
YEAH—Weirs. Coffey, Orabb, Frazer. Garzam, Gregg,
Harris. Jordan, Killinger, Knox, Laubach, Lewis, Myer,
Sellers, Souther, Taggart, Welsh, Wilkins, and Finney
Speaker—lS.
Nays—Messrs. Brewer, Browne. Creswell, Ely,
Evans, Better, Flenniken, Ingram, Scofield, Shuman,
Steele, Straub. Walton, and Wright-14.
The first section of the bill, as passed, fixes the date
of resumption by the banks of specie payments on the
first Monday in Fobruaty. 1858.
The second section of the bill was also adopted.
The third section was taken up. Pending the discus
sion thereon, the Senate adjourned till 7 o'clock this
evening.
EVENING SESSION OF THE SENATE.
The Senate met this evening, et 'I o'clock. The con
eiderntion of Bill No. 1, reported by the select commit
toe, was resumed.
Section 3 pending, a disoussion took place between
Messrs. Gazzatn, Ooffey, Jordan, Wilkins, Wright,
Browne, Welsh, Taggart, and others. Mr. (lazzam
moved to strike out the feature requiring all banks to
receive each other's notes at par, and to insert the word
"authorize."
The motion was negatived, by a vote of 8 yeas to 24
Days. Several immaterial amendments wore adopted,
and the section then passed—yeas 21, nays 10. Section
4 also paned.
Mr. 11nowas submitted sections two and three of his
proposed supplement to the act of April 18th, 1850, as
section tire of the bill under consideration. •
The section, as thus submitted, limits the bank divi
dends to six per cent. per annum, clear of State taxes,
until the bank shall have accumulated a reserve or con
tingent fund, not less than twenty-five nor more than
thirty per' ent. on the capital stock; and thereafter
limits the dividends to nice per cent, per annum, clear
of State taxes. All the earnings above nine per cent.
to be paid into the State Treasury. It also requires
said reserve or contingent fund, as a fund to be invested
In State or United States loans, and deposited with the
Auditor• General as an additional security to that now
provided by law, for the redemption of the notes of
said banks, and to be applied to that Purpose upon the
failure of such bank. to redeem Its notes In gold and
silver.
The section was discussed at length, and was finally
adopted—yeas 17, nays it.
Mr BIWWNIC also submitted section fourth, from the
same bill as section sixth of the bill under considera
tion.
This section prohibits banks, saving . funds and trust
oompanies from dealing in, or purchasing bank notes at
less than their par value.
The section was carried—yeas 22, nays 8.
Mr. BROWNS moved, as an amendment to section 7th,
to prohibit the banks to issue notes of a leas denomina•
tion than ton dollars. Negatived by a vote of 16 yeas
to 10 nays.
Mr. \Valour offered, as a new section, to prohibit
banks to Issue notes of a lees denomination than twenty
dollars. Negatived—yeas 5, nays 20
air. Humus offered, as a new section, to exempt
property from levy on a sale or execution, to the amount
of one thousand dollars, for one year. Negatived—yeas
9, nue 21.
Mr. ensile offered, es a new section, to authorize
banks desiring to close and wind up their affairs, under
the not of 1822. Negatived—yeas 11, nays 18.
The remaining 'motions were then adopted, and, on
motion, the title was amended to read, "An act pro
viding for the resumption of epoole payments by the
banks, and for the relief of debtors."
A motion 14140 made to amend the rulee t so as to put
the bill on its third reading, but the motion was lost by
a vote of you 18. nays 12—two-thirds being requited.
Adjourned till 9 o'clock to-morrow morning.
HOUBE OFREPUEBENT4TTVB. ,
The UOllllO met at 12 11.
The journal of yesterday was reed and approved.
61110141. 00M0TTEZO.
The Speaker announced the following u the
committee of thirteen, to take Into corsiPtenttken the,
Obsernoes tgessags
• Blears. Poster, Ball, Longaket, Itainsty,
rphilat, Thor Calhoun, gtavgnson; Widest, (Phllt9,
igauffigan, Dow rdienkhas, Ester. '"
CrOXWON10•7101(5, &o.
The Speaker laid before the House the proteestings of
the meeting of the eitisansof Philadelphia, relative to
bank suspensions; which were referred to the Committee
on Banks. . . • -
WIOONSELLI2II presented two petitions from the
eititens of Schuylkill county, praying for roller from
the present embarrainments and repression of trade,
which were referred to the Committee on Banks.
881.20 t tIOLVITICTX.
Mr. Moms moved Olt the Speaker be authorized to
appoint two additlonell tilembers of the select commit
tee of thirteen.
Tir. Nome opposed the motion.
After 4 short discussion, during which the Speaker
stated that the committee of thirteen hod been !se
lected by tam sording to hie own judgment and that
he bad not been approached or requested by any mem.
ber to place him on that Committeethe luestiedi Was
taken, cml the notion was pot agree'd
fLII.A . DBLPAIA PlllOlOll.
Mr. Tann presented the following petition from the
merchants, &c., of Philadelphia ; which was read and
referred to the committee of thirteen.
To the Honorable Senate and House of Represents.
tieel :
"The undersigned merchants, manufacturers, me
chanics, and other baldness men of the city of Phila
delphia, in view of the great calamities, otheewite In
evitable and irreparable, Impending over the most im
portant industrial interests of the city and Common
wealth, and which They believe can only be averted by
enabling the baniia, In thin oriole, to extend adequate
relief, respectfully request that the Legislature will take
such action ea will protect these; institutions from the
penalties to which they are now exposed."
Deal, 111Bligaz & RveT Reles & Bell,
R 11. Media,' Bloomingdale & nine,
Bancroft, peaver fr. Co., Cibley, Holton &Woodruff,
P J Patten & Co., Wright, Brothers & Co.,
Goff & Peterson, Jas. H. Thompson & Co.,
Pries, Perris & Co., 41. T. Lukens & Op.,
Joe. R. Stryker & Co., Jae. R Cs Oen& Co.,
Brisrhawk, Drinten,& Wleht, Clark', C adm us & Co.,
Wm. A, Droun & OP., J. W. Elibtsi & Boa,
McCall& & liaise, gym, Olsghorn & CO.,
M. J. Croll & do., ' Tilliqghart & Dallield,
Sleeper fc Yeager, fl,. M. iii i it,
Truitt, Brothers & Co. Lorick., sld & Co.,
Wilkock, Miens 4 peak, Chaffers,hoot k Co.,
Dale, Ross & Withers, Whelan & Co.,
Gemmill & Creswell, Pratt & Reach,
Curtis & Hand, 86m1. Blspham. & Sons,
T. H. Perot & Co., Peter T. Wright & Co.,
Gillespie, Zeller & Co.
Messrs. BIOHOP and Dona presented similar petitions,
which received the cools reference,
!gr. Litlepseteq ITO in place the (aliening lotut rOOO
talon:
Resolved, By the Senate and Itouse of Representa
tives in General Assembly met, that whed this Legisla
ture adjourne on Saturday the lOth Instant, it will ad
journ to meet on Wednesday, the 4th Instant, at II
o'clock.
The question being on the reference of the resolution,
Mr. LONOSKICR moved to suspend the rules in order to
proceed to its consideration. Ire thought xis important
question was nvolymt, which might BB }fail be es tied at
the precept time as at qqy other.
Dir /1111ITAND Rae oppoecd to the resolution. If there
wee business tP keep them In sesaign eller Tuesday
next, they could then determine tile question. It, vat
waste of time to discuss it now.
OALBOVN was of opinion that, when it became
evident that they could . not finish what huslutuis they
had to act open by Tuesday peat, it siould then be
the proper time to tube up 4 resolation of this qhar
uteri He thought it was impolitic to Consider it at the
present time. The motion to suspend the rules wee not
agreed to, sod the rreolution yips then
, Isid uncle the
table.
Mr. alepaitcon moved that the finpee ito new, ad-
Journ; which motion was not agreed to—yeas 32, nas 00.
Mr. Iliesvaiso moved that the U 011413 proceed Id the'
consideration al Ilouse bill entitled, An act relatife to
the ausponsion of specie payments by the 'tumid Wads.
Oommon'realth, and providing for the better pewit' ,
of note-holders.
Mr.' TORN hoped the 'tfouge would' not pronesid to!
consider what' they bad Just eppointed corumittee to
Investigate.
Mr. IdeCattioir thought they could consider the billi
now, without waiting for a report from the, committee.
If it not suit the viernier the members, they oonld'
amend it and lick it into shape At all events, they:
could compare ncdes, sad see whether they could ever
agree upon anything : end they could not, bd.'
tiered they would in the end discover, they could ad
journ end go home. Ile felt dleppoecl to go home new.
Mr. CILUOUN said that half 4 &hap bills bed 'already
been read in place, any one of which was es much enti
tled to the special consideration of the flow as that of
Mr. Iliaarann'e.
They had been sailed together for the plum*, of, de
thing sense means of relief for the people apd tt,was
proper they should fully investigate all thei meaettree
tor Ole purpose , which bad Been submitted to them.
The committee they had eppointedwould give the whole
subject a patient and fair hearing, and when the House
had received its repert, they would be able to act In
telligibly. Ile trusted that the vrhple matter would be
referred to the committee, and that the motion of the
gentleman frpnt j.ancaeter wpuld not prevail. ,
Mr. Mollst.gosr said he should demand the yeas and
nays on the question of. proceeding to the consideration
of the hip, in order that it might be seen who wished to
do business. Ile pould see no force in the reasons of the
gentleman from An:entrees, (Mr, DA i t ilol7lo The
ouse was better Ole to consider the e arteue propo
sitions which had been submitted, then the epeeist com
mittee of thirteen. lie had been too long in the Lees•
lature to pay much regard to the reports of special
committees, and there was no use in wasting time wait
ing for a report from this end for, when It 4114 come, It
would be found that the eighty remaining members each
bad au opinion of his own, lie hoped they would din
cues the bill, and eeevrhere they stood.
lifr. nowt thought that the bill should take the
same courts which the other" hod, sa it was not more
entitled to the separate conelderation f4f the Moose.
Tho'bill, to some ektotit, met his approbation; but, if
every member's bill was to bo separately taken up god
discussed, they could not, by any possibility, adjourn
within the time proposes . Besides,. it was due to the
Governor of the CoMmopwealth that the committee
ap
pointed for the purpose of reporting upon his messa g e
should make their report before the Mouse proceeded o
act upon the special business which, had called them
together,
Mr. Itiasraar , said that the Howe bed refused to ad
journ; and as there was nothing before them, be hat
proposed to take up this bill, in' order that they Mitt
some progress the business which bad bran bt
'New here It need not In any Way Interfere With e•
committee, who cohld go Oh and report nperi the whole
subject, but he thought the Mottle had better exchange
views in the meantime.
Mr. HORS thought the Mouse wee net prepared to
go into a dlecuseten of the subject. The member,' bad
not yet had an opportunity of examining the various
bills which had been introduced. and they had better
adjourn, andgive the committee time 19 luyealli*,
a
and m, their report.
preiers:Knionr .a Mooniest) also'oppdeed the mo
tion to proceed to the consideration of the bill
. The domend of Mr MoCaak9ST for the yeas and
nays was seconded, and being taken, requited-leas 14,
nays 16—as follows;
Yitv—Mesers. Abrams, Brandt, Hamilton, Hlestand,
(By Telegraph.]
ADJOURNMIINT
Housekeeper, Imbrie, Johnson, M'Calinont, Nicholson,
Shaw, Sloan, Yall, Yanvoorhis, Wintrodo.
NAYS—Memo. Andersonoirthur t Augustine, Babcock,
Backus, Ball, Beck, Benson. Bishop, Bower. Brown,
Calhoun, Campbell, Carty, Chme, Cleaver, Crawford,
Book,
Ent, Foster, Glbboney, (Hideo, Harper, Heins,
Hill, Hilieges, fine, Hoffman, (Becks,) nines, Jacobs,
Jenkins, Johns, Kerr, Huight, Lebo, Leisenring, Long
aker, Lovett, Manear, M'llvalu, Moorhead, Mumma,
Idusselman, Niehole, Nunnemacher, Pearson, Penrose,
Paters, Pewnall, Purcell, Ramsey, (Philadelphia.)
Ramsey (York.) Reamer, Reed, Roberta, Rupp, Smith,
(Cambria,) Smith, (Centre,) Smith, (Luzerne,) Ste
consort, Thorn, Tolan Vickers, Vooghley, Wagonsellor,
Walter, Warner, Westbrook, Wharton, Witberow,
Wright, Yearsley. Zimmerman. Getz, (Speaker.]
So the question wee determined in the negative.
Mr. BALL submitted the following resolution, leave
being granted him for that purpose :
Reseierif, That a committee of six be appointed by
the Chair, with instructions to inquire into the Imme
diate causes which have produced the present financial
difficulties, and the remedies necessary to be applied for
heir correction by the Legielature.
He said that none of the committees which it was
customary In parliamentary proceedings to originate in
an exigency like the present, had been appointed, and
that the House stood precisely as it did when It assem
bled, at 12 o'clock on Tuesday. It might be proper that
they should decide whether the Executive was justided
in selling an extra session of the Legislature, and thus
putting the Treasury to a very great expense ; and be
sides, there were various matters which would not come
under the consideration of the Select Committee of Thin.
teen, which it would be within the province of this com
mittee to consider and determine.
Mr. 13, spoke at great length In support of his resolu
Mon.
After some further debate on the subject, by Messrs.
KNIGHT, MUNSON, BILL, and BALL, the question was
taken, and the resolution was agreed to
The Maim appointed the following gentlemen to
serve upon tho committee : Messrs. Ball, Calhoun, ros
ter, Stevenson, Dock, and Knight.
On motion, leave was granted, to the committee to
sit during the sessions of the House.
MT. LI<IBMIRIIIO moved that the House adjourn;
which motion wee agreed to, and at twelve o'clock the
House adjourned until tomorrow morning at ten
o'clock.
THE CITY.
ACADOIT OP WHO, B.W. COSINES or BROAD AND Lo
OUST STSESTS.—P D'Amora."
WIINATLRT'S ARCH EITHIRT THRATRR, ARCH STARR?,
novo! Bocen.—" The Robbers; Or, The Foreet of Bo
itemla"—" Paul Pry. ,,
WALNUT STRIFE? TIIHATRII, N. E. CORIUM OP NINTH
AND WALNUT STRIIIITS.—" Psableo"-- 4, That Binged
Baby."
NATIONAL THEMA. WALNUT STRIINT, AIM'S BIGHTII.
The Oamestor"—" Roney Moon."
MOM'S OFIIRA llolll3x ' ELIIMITII MIST ABOVH
n
Ousett. , —Ethloplan Life Illustrated concluding with
4 . Box and Cox."
TitotgllVN rININTIE 8, FIFTH AND ORA EITNCIT 9TANNTS
i—Mi3CCHADAOIIB Ooncertl.
Mass Meeting of Merchants and Business
Men in Independence Square.—A very large and
respectable meeting of the morohants and business
men of the city assembled in Independence Square,
at 5 o'clock yesterday afternoon, after a notice of
a few hours, for tho purpose of expressing their
views on the present financial crisis. The " solid
men" of Philadelphia were fully represented, and
we have rarely seen a meeting which embodied a
larger portion of our active and enterprising busi
ness men.
Tho meeting was organized by tho appointment
of the following officers, on motion of Mr. Wm. C.
Ludwig:
President —Marla Macalester.
. . . ,
Vice Presidents—John 0. James, Rood Simpson, John
D. Wore, William 0. Ludwig, John P. Crosier, John
Welsh, B. V. Merrick, George U. Stewart, William E.
Bowen, Robert Selfridge, William 0. Pattersois, David
B. Drown, William Dsvino, David Milne, Ham Conrad,
James C. Rand.
Secretaries--Robert Ewing, S. Morris Wain.
no President, on taking the chair, spoke as
fellows:
Osert.ense : We are now in the midst of a pecu
niary crisis, such as the oldest of us have never seen.
It has come upon us so suddenly, that the most cautious
commercial navigator bad no time to shorten aail, and
the consequence has been, that many of our moat sub •
etantial honses, who for nearly half a century braved
the vicissitudes of commercial life, hare been obliged to
yield to the fury of the storm. Nor have its effects been
confined to the mercantile Interests. The manufacturer,
to whose enterprise and energy we are so much indebted
for the former prosperity of our city; the miner, whose
labor extracts wealth from the earth—these men, upon
whom so many laborers, with their families, have been
dependent for their daily bread, have suffered, and are
now suffering, from the visitation of this unexpected re
'gulden. I say unexpected; for but three months ago
the financial horizon was unclouded, and no cause of
disquietude seemed to exist ,• for it was about the Bth
of July that the New York banks commenced the most
unwise and imprudent expansion that I have ever
known In the annals of banking,• with specie leaving the
country at the rate of one and shall to two millions per
week, they expanded seven millions in one month. The
object of the expansion remains unexplained, and un
explainable. An expansion of seventeen mllliona in five
months broke the Bank of the United States in 1830.
" Unfortunately, our banks did not perceive the dan
ger in time. The New York bangs, early in August,
were epnyluced of the Inipelicy of their course, and
commenced a curtailment which has no parallel In our
country. In the next thirty days they contracted
twelve millions of dollars. Here was expansion and
contraction enough to ruin any community, and Hill mar
vellous how so many have stood it. The drafts upon
'our banks were daily and exhausting. All the obliga
tions of our merchants which they held were earthed,
and coin taken hence t 0 strengthen themselves. Ido
not blame them for thus strengthening themselves, but
I do blame them for the July expansion.
"Our banks became pressed they suspended after a
heroic struggle. The object of the, present meeting I
suppose to be, to give an expression of the views of our
citizene to the Legislature now assembled. I know not
what resolutions rue to be brought forward; but I beg to
say in advance, that I consider the present banking eys-
Aein defective; and when It to reconstructed, I treat it
will be on the "General Banking system," of deposit
ing tieenrity for the circulation, or of requiring the
banks tp keep constantly on han d one dollar Itt specie
liar every three of their liabilities. We mei adopt some
plan to guard egaillet another suspension. l trust, how
ever, the Logisleture will do what they can to give us
;gimp present relief, and restore coutldente—that bug
nese may mime Its accnstoined channels, even In a
subdued faros—that the loom and the shuttle may be
•Ilet IP motion, and thus give employment to
, 1 , 1 4 f ads of deserving men, now out of employment,
proapect for ,tho coming wil t :eels indeed. gloomy."
r Ilea/tester, in concludi , Introduced to the
lieting Mr. George. If. Stuart, w o said:
Fellow.citizsna: It Is scarcely sseadful for me to
aid anything to the very lucid remarks of our presiding
Weer. We are here to-day to consider not the condi
tion of the banks, but the want, of a guttering com
munity—of 'sixty, If not seventy thcormuld keatIIII of
this city, who, its a yery few weeks, a ill, if relief be not
speedily extended, be In a state of utter destitution.
Thia meeting, my friends, was called upon a very
abort notice. Learning, this morning, that the real
condition of thine_ In this city is not known by our re
presentatives at Harrisburg, It was deemed wise, by a
numbor of gentlemen, to ask our fellow-citiseus to
come together and give an expression to onr reelloge.
We rent, this afternoon, to speak to Mir represents.
three in tones of thunder- Nye reef (lama to lf.now the
real condition pf things in our city. 4 feiy pertinent
resolutions hare bean preperc4, which, V know, will be
heartily respon4e4 tp by every maithent, manufac
turer, and laboring map to the community.
The lineation which agitates the community, Mr.
Stuart thought, was one altogether above party ; it was
one which concerned every laboring man. There were
cases of distress within the knowledge of gentlemen
who stood with him on the platform, the narration of
which would bring tears from a heart of stone.
"As an illustration of the generalidistreaa and dull
llen which threaten the community, Mr. Steer.; mad' an
extract from a letter receiver yergioddy teem the tonna
pre of one of the largest Manufacturing establishments
En America, by some gentleman of this city. The assis
tance asked for by the letter was readily granted. The
extract Imps follows:
"Thil hadney to wanted for the 'Payment of wages; and
the object of making this appeal is to ascertain whether
manu*turere can rely upon assistanee. -We hae in
our emplyment at this time two thouunq men. tf we
can keep ' s part of there employe4, we think it will help
them apd the mibllo. $o kir as our man interests are
concerned, we vitgAt dismiss the whole two thousand,
Sail leg Stern tie'tlroten upon the country for support.
Humanity, however, determines no to do anything In
our power, and make any reasonable ascribes to give
them work.,
"Letters from other Parte had been riNtlyed, Mr.
Stuart said, ring an eqqally r rmy pl/ture:"
Mr. Wist. a ills, or wi l y* emendye Inerlnfac
turer, wad t di intriAdmid; e made a few remarks,
showing how, unless relief of some kind he obtained,
immense numbers' of operatives (in addition to those
now Idle) would be thrown out of employment, and gene
ral calamity come upon the community.
In the city of Philadelphia and its vicinity, with
in the lost four weeks, from ten to twelve thou
sand operatives had been discharged from employ
ment in the cotton and woollen mapufAciorfes
alone; nod in two weeks more, Antics 'alter should
be granted, it Timid ho impossible for those establish
:mite to go on. If, in that eingle branch of business,
20,e00 men When thrown out of employment, there
must be in other branches upwards of 00,000, and when
sixty thousand men are deprived of their means of sup.
port, at least one hundred and eighty thousand persons
(their wives, their children, and others connected with
them) must be thrown into a state of utter destitution;
fur such Is the rate of wages that few hale been able to
"save for a rainy day."
In this state of things, (remarked the speaker in con
chtdipg,l we melt look to the ragislature for such re
lief Lilt is in their power to grant.
Mr. Frederick Fraley way next introduced, and was
received with applause. Ile said:
My fellow-cititens: I have come among you to-day to
aid in the accomplishment of measures which may pro
duce relief to our suffering community. Most truly
may we be called a sufferiug community; for although
I have witnessed four auspensions of specie payments by
the banks, there has never, In my egperienee, been a
enspension atteir'ed by such general dietrese, And want
of confidence, and fear of the Were, as we now see ex
hibited.
It maybe inquired, boviline all this been brought
about I The game sun abject upon AR that shone in
the month of 'Augost ; the same hearts best in our
bosoms ; the same hands aro willing to labor; the same
railroads qpd cope Are reedy to hear the product of
one labor to market; all the elements are willing to
perform ferns their cnstomary service; yet, somehow or
other, man is unable to avail himself of the gifts which
Providence has placed within his reach ; we are para
lyzed and almost dead.
But what is the remedy? Confidence—mutual sym
pathy—and a generous support of those institutions to
which we look for the supply of the tokens which move
the labor and the products of the labor of our country
from one extremity to the other,and from one part of the
world to all the rest. It is not a bill of pains and pe
nettles that will give employment to the poor man;
it is not a bill of pains and penalties that will con
vert a dollar of paper money into a dollar of gold.
Only a restoration of that confidence which existed
among ns five or six months ago can bring back all that
we apparently have lost, and set in motion refreshing
streams for the benefit of the whole community. At
the present moment, we stand very much in the atti
tude of a parcel of mills 'located upon a noble stream
sufficient to drive them all, but whose waters, from some
want of confidence in the miller at the head of the
stream, are put off from all the mills below him, so that
they me unable not only to grind, bet to spin, and
weave, and forgo,
How shall this restorAtion of confidence be brought
about Not by indulging In mutual distrust ; not by
Cdr calling timm every debtor for immediate payment of
the last penny I not by making " runs" upon institu
tions hitherto considered solvent end reliable. No one,
it is to be presumed, wishes to deprive them of the
power of Wien. BO It unfortunately happens that
every man is afraid of the rising sun. Ile fears
that to-morrow he may be thrown out of ein
ploymont—may be unable to purchase bread for
hie family—and he therefore thinks It necessary
that he should hoard to-day. I do not see now (as I
was in the habit of seeing four mouths ago) the mem
bers of the reboring community carrying their weekly
savings to the wirings institutions, and depositing
them there, with full confidence that upon a" rainy
day," when they call for It. their money will he
honestly reamed— Pet these savings banks—those
inMitutiona %het have twined money to our mechanics
and bitilders, to be expended in erecting residences
for the Men of, small meting—those Institutions, from
which money may be obtained upon mortgage by the
poor man, so that the life-blood of the community may
bo circulated freely, and made beneficial--these ser
fage banks have not Changed in their condition from
what they wore. Their securities NMI remain good ;
their property has not vanished ; the population that
was then to Philadelphia, giving wealth to the city by
Its labor, still remains. Why sboAld we, then, in a
moment of excitement wage a warfare upon all times
elements of our atrengt b, to break them all down, and,
in the common ruin break down ourselves?
There is not, I teal suisured, one working-man in this
assemblage that would not give one month's wages to
have things restored to the condition in which they
were in' duly or August last; y et if we could lane*
Into the mouse the conviction t h at all the elements of
their prosperity are still within theirgrasp—altat there
hoe °conned merely a change in the signs and token, to
which they We been accustomed - ..if we mold loduee
them to place thenmelvea, for one month, In the same
state of conAderme and repose which we nitneseed three
months ago, our fears, our doubts, our difficulties would
soon be diselpeted ; business would return to its ordi
nary channel - , and every one would be again happy and
contented.
Now, eau we oat bring this about? I think we can.
I think the voice tent forth from tide meeting ito-day
will Misty the members of our Legislature that, in
times like these, wo do not wish to take then pound of
flesh," but that each man is willing to bear his portion
of the burden, and contribute Ills share to the general
relief.
It Is upon the laboring population throughout the
State that the mischiefs and misfortunes of the present
crisis fall with most telling effect. His daily labor fall
ing, lug meagre savings am soon expended ; and then
comes misery, and with misery comes dkeitee • and the
speedy consequence is, the transfer of a family from its
once cheerful home to the poor house.
But if we could again have reliance upon ourselves,
and put a single branch of the industrial energy of this
Commonwealth (the coal trade) once more Into 1111CCess•
ful operation, we should in six weeks have the tables
of exchange, as regards New York and Boston. turned
in our favor and notwithstanding the fact that we
have been compelled to succumb under the pressure of
the times, and yield to a suspension of specie pay
ments, every dollar of the currency of Pennsylvania
would be redeemed in New York end Boston in solid
coin—if, perchance, after the trouble through which
they are now passing, we should be able to find it there.
(Applause )
II Min the last four weeks, oar coal trade has, under
the influence of this general distress, diminished some
thing like forty thousand temper week; ranking a differ
ence in the receipts of this Oomtnortwealth in money (and
York and Boston) of something like one hundred and
fifty thousand dollars. That trade (snow paralyzed, and
its condition is but a type of the psralyeis which per
a largo part of it has hitherto come from the cities of New
vades each' of the trades in which those who now hear
me are engaged.
As to the financial condition of other cities, you
know how small a portion of specie 'serves to keep up
what la called a permanent specie-paying system. But
there has never existed in those cities that kind of a
specie-paying system which we have in Philadelphia.
I venture to say that In the daily exchanges of life—in
the purchuses made at the grocer's, the baker's, the
butcher's—there are now more gold and silver coins in
circulation among the people of Philadelphia than there
are in the city of New York.eg , That's so' , and ap
plause.] If you were to present at the bar of the best
hotel in that city a half-eagle in payment of a debt of
two dollars, my word for it, you would receive In ex
change three one-dollar notes.
But, my fellow citizens, what is it that we want in the
present conjuncture of affairs ? Not that there shall be
In the community any disturbance in the relations of
debtor and creditor; not that the Legislature of Penn
e 'hank shell say that by the use of one dollar I shall
pay
those instrument exchange, but that they shall per
mit o of which we have need
for years, with which we have been satisfied, and which,
upon all ordinary occasions, and for all ordinary par
poses, are convertible into coin, to resume their places
in this community—to be passed from hand to hand, as
they have heretofore been, to settle the debts of man
to man, and thus the gates of prosperity will be once
more opened; the difficulties under which we are now
laboring will be relieved; public and private distress
will be alleviated; hundreds of men, now upon the verge
of bankruptcy and ruin, will be saved from Involving
others in a common calamity; and all will be made again
cheerful and happy.
Mr. Fraley concluded amid much applause.
Mr. Stuart then offered the following preamble
and resolutions:—
Whereas, We, the representatives of.the manufactur
ing, mercantile, and industrial interests of the city of
Philadelphia, now In town meeting aseembled. Irrespec
tive of party, in view of the present unparalleled die
trees which Is ;rereading all classes of our business COM.
munity, most solemnly state to the General Assembly of
this Commonwealth now in eession, that in the honest
opinion of this meeting, prompt relief is required from
the representatives of the people for the benefit of the
people themselves.
Therefore resolved, that we do most respectfully
invoke the Legislature to pass some law which will ena
ble the manufacturer to 'keep his workmen, and the
other branches of business to retain In their employ the
men and women whose bread Is entirely dependent upon
their daily labor
Resolved, That the relief should be simple and
comprehensive—not fettered by provision impossible
to be executed in a season of trial and panic, but such
its will tend to restore confidence lu the general sol
vency of our people, and bring into salve and belie&
dill circulation the products of our fields, mines, and
workshops.
Resolved, That we implore the Legislature to con
sider the sufferings which must inevitably follow in
every department of labor, and to those also who have
to exchange values, as merchants, traders; and factors,
If some relief be not promptly afforded by the present
Legislature.
Resolved, That the proceedings of this meeting be
published, and a copy sent to each member of the Legis
lature.
The resolutions were adopted amid loud ap
plause.
Mr. STUART rose to request that all those constituting
the meeting would take the trouble, after the adjourn
ment, to affix their names to a memorial which would
be found in the Hall, and which was to be despatched to
Harrisburg, as an expression of the sentimeuta of the
assemblage.
The meeting then adjourned.
Proceedings of City Councils. —A stated
meeting of City Councils was held yesterday
afternoon, at which the following business was
transacted :
.• • .
Mr. Taylor, from the Committee on Schools, reported
on ordinance to transfer certain items of appropriation
to the Board of Controllers of the Public Schoola, which
wan considered and paned finally.
On motion of Mr. William., the Chamber proceeded to
tho consideration of the following resolution from Com
mon Councils:
AesolveJ, by the Select and Common Councils of the
city of Philadelphia, That the Chief Commissioner of
Highways is hereby authorized to enter Into contracts
with the following named persons—they being the low
est bidders—for cleansing the streets within the several
districts respectively, for the period of one year from the
first day of October, 1957, for the sums respectively
stated, that Is to say
With William Thompson, for the First district, for
the sum of 51,800 ; with William Thompson, for the
Second district, for the sum of $2,400; with Fames
Maxwell, for the Third district, for the sum of $4800;
with Thomas Cunningham, for the Fourth district, for
the sum of $8,606 ; with Thomas Cunningham, for the
Fifth district, for the sum of $6,600 ; with Thema Cun
ningham, for the Sixth district, for the sum of $7,004 ;
with Fames, Mullen, for the Seventh district, for the
IMM of $ 9,750 ; with Michael Carlin, for the Eighth dis
trict, for the unto of $3,600; with Michael Carlin, (or
the Ninth district, for the sum of 5 2100; TtettrY
Rinehart, for the Tenth district, for awn or PPS ;
with State & Keefer, for the Eleveni district, for the
SUin of $1,000; 0, 4 1 0;kel Blather, for the Twelfth
district, for The tont of 1(1,800; with the Street Sweeping
and Fertilizing Company, air the Thirteenth district,
for the aunt of $2,800.
That the Chief Commissioner shall require each of the
said contractors to enter Into an obligation with two or
more sureties, in a sum equal to the amount of his or
their bid or proposal, conditioned for the proper and
faithful performance of their duties ander the con
tract.
Bsaolvcd, That in the event of a fitiltmeolyon One part
of any of the above•named coattsatoye o*ea the proper
security, or to enter intq ari *gramma% Per doing the
work, the Ohlef Oammisjimar DI hereby authorised to
contract with the nest loves% bidder or bidders offering
the %mulatto security.
firse/ved, That the Chief Commissioner of Highways
In hereby authorized and required to inquire into and
determine upon the sufficiency of the sureties of the
sold several contractors, subject to the appreesd o‘ the
City Solicitor.
The resolutions were adored. Adiettreed•
glace,
coonctt.
r. 4 . . miller, in tilace, submitted an ordhumee pro
villeg NS' 11kn g ip ping Sad tiltturseolento of the
pu Ile fonds. Ordered tb be Fluted.
Mr. Marcher suhroltta.l an ordinaneo to repeal section
4of an Qtdionce approved June 26, 1854, entitled An
ordinance to 'mike en appropriation to pay the interest
on the Funded Debt of the city of Philadelphia, falling
due on the first day of July, 1854
A motion was made to suspend the order of the day,
so as to proceed to consider the bill.
Mr. Perkins moved to lay this motlba as the table.
The yeas and nays were tom, and the Chair de
clared the motion wood 14.
Mr. Draytun c 511.4 Op the ordinance passed by Select
Clou,twi, making an appropriation of LW for the ray
maul o six months , intermit to Justice Cox, on a mort
gage upon Fairmount Park. lie said that this was a
matter in which the integrity of the city was at stake.
He argued that an ordinance bad Leen paned accepting
the property and dedicating It to the putdlo we) and
unless they paid the interest, the property would be
Bold. If it did not Wing the amount of the mortgages,
the holdeil ;Wild mine Upon the city for the balance.
Tyr molten to *upend the rule was agreed to by a vote
of a/ to 4.
Mr. Miller moved to refer the subject to especial com
mittee of three, to inquire what mortgages were against
the property, end to inquire Into the eapedlancy of re
ceiving the same &e.
Mr. Perkins citedl bcr ills previous question, which
was ni31 1 41 0, 4 hr Willa members rising In their places.
Mr. matcher declared that %la 11113 gag law.
The via and ceps were then called on the question.
•'BlOll the mute question be now putt" and it was not
agreed to by a ote of 49 to 18.
Mr. Baird moved to lay the motion upon the table
Mr. Miller—l appeal to the gentleman to withdraw hie
motion. as I want to say something.
Mr. Baled—l will then withdraw it.
Mr.Parker—Then I will renew lb'
Mr. itl Idler—Well, / Aid not think any gentleman would
have impudem enohgit to do that while I have Ws
dog
Toe °lawman (rap)--Sneh remarks are out of order,
sir.
Mr. Miller won opposed to paying this Interest, and did
not think the members knew that they were voting for
so increase of the city debt when they passed this onli
mince. He spoke at much length.
Mr. Manlier thought the whole matter looked suspi
cious, and coincided In the opinions eutertained and ex
pressed by Mr. Miller.
The meting to refer the subject to a special committee
wee 0 0% laid Ott the table.
4,d(,X1
.
The Select and Common Council than met in Convene
111111 elected Mr William Lamb Comoslasioner of
Markets.
The ordinance lu regard to the Sedgely estate Isle
again called up.
A motion was mule that the ordinance be referred to
the CityBolloitor for ble °pluton, whether the resolu
tion approved April REI, 1861, providing for the accepting
Sa
of the gely ettato is binding upon the city, so far as
'Times 119, the city being responsible for the debts of the
same, until further action le bad by Councils.
Mr - . Miler said that this whole thing was the scheme
of a heartless set of speculators, who desired to Alit
the responsibility from their ahouldonl to those of the
city.
Sir Q'Nefil wild be had about mode up his mind to not
46 Surprised et anything he heard uttered by Council
men, but he confessed that be was surprised at the last
speaker's remark. The gentleman (Mr. Miller) knows
that lie sitters what is false and untrue. He moved to
lay the motion on the table.
The yeas and nays were called, and the motion agreed
to by a vote of 42 to 24.
Mr. Stevenson replied to Mr O'Neill, and said the
gentleman was willing to expand millions for the future,
while the city had been protected this very day
Mr. O'Neill said he !poke of the millions of people
and not of money.
Mr. number would rota against the ordinance, al
though he knew that the Sedgeiy estate would be sold
by the sheriff. The whole project was useless., particu
larly at this time, when the city warrant% a ere at a dia.
count end begging around in the street.
Dr. Mites was willing that the city should accept the
property.
Mr. Ginned() said there were parties ready in that
chamber to take the property from the city at a bonus
aver and above all the fucumbrancea against it.
The Oret section of the bill was agreed to by a vote of
forty to ten. The ordinance was read a third time,
when thirty-eight members voted for it, and six against
it, as follevre:
Yeas—Mehars. daatta, Bated, Black, Brown. Burnell,
Dutcher, Clay, Conrad. Creaae, Day, Drayton, 'Pry, Gin
node, Holman, Jones, Kane, Eauffnum, xenon, Xing,
Lewis, Moyer, McFadden,lllefdanna, O'Neill, Palethorp,
Parker, Perkins, Steel, d eter Thompson, Vanhorn, Fe
rny, Wilmer, Wolf, IL Y. Wright, 0.
8. Vhight, John Miller, (President) -38.
NAM—Messrs. Faulkner, (Meter, Maag, Andrew Mil
ler, McDonough John Thompson--S. The Clair decided that there was no quorum present.
Mr. Miller maid be 'should enter upon the minutes his
reason for voting against the bill.
Mr. Blucher moved to adjourn, but the motion was
not agreed to.
Mr. Clay again called up the ordinance In regard to
the Sedgoley estate, when 39 voted for, and 2 against—
no Immo
Messrs. Sites, Miller, Moocher, and Stevenson declined
voting. Adjourned
American Sunday Sahara Union.—The Com
mittee on Depositories and Finance have Issued a
statement, elicited by the unauthorized issue of
acceptances to a large amount, by Mr. Porter, late
secretary, in the name and on the credit of the
society. They declare that "Every dollar of the
contributions to the society's funds has been earn
pulously applied to the benevolent objects which
the dolmas designed to promote •, so that whatever
losses or disasters may have befallen the business
interests of the society, its charity fund his been
sacredly protected." They add, "It will be un
dersteod, that so far as we know, no funds In the
actual possession of the society have been abstract
ed, slim no part of what was thus surreptitiously
obtained was ever in its custody ; and it is to lus
especially remarked, as a matter of thankfulness,
that not a farthing of the contributions to our
benevolent fund has been lost or misappropriated.
Tho wrong which we suffer, results wholly from the
use of the society's name and credit by the corres
ponding secretary without authority, in violation
of his trust and for personal or private ends, and
the burden falls wholly on its business depart,
merit."
EXECUTOR'S SALE OP FORNITVRE.—See Junes
A. Freeman's motion advertisement for sale this
day.
BY THE PILOT LINE.
LETTER FROM NEW YORK
[Correspondence or The Prom]
NOW YORK. Oct. 8, 1857-5.20 P. M
The money market le a good deal agitated to-day. A
deputation of bankers from the Interior of the State has
arrived, to confer with the bank boards here. and are in
session while I write. The object of this conference
is said to be to make arrangemerita for the receipt and
payment, by the city batiks, of State bills, Ly which all
pieties, an.' the public, would be considerable gainers.
I learn, however, that although some of the bank officers
would favor this policy, others are opposed to it, and
that it will not be carried out.,
We still hear of prompt action among moneyed men
to move the crops nod enable Vito payour debts There
In no doubt this ought to be the case, and we mud hope
that it will be, but whether it will or not is antther
question. It is as platoon anything can be that there is
no other so good, speedy and safe means of relict as are
to be found in bills of lading for Hour and grain, on
which, within forty dars, the gold can be obtained. The
banks have no risk In the matter. They need not issue
bills which can be sent back alone for gold and silver;
they are only required to take the staple wealth of the
country on deposit, and advance upon it, so as
to enable parties to realise who have now neither
tho cash or credit to bring It forward. This is so plain
that we must believe that the banks will do their duty,
and give the necessary facilities. If they do not, there
is nothing to avert a general entails, in which, ea e.
matter of course, the banks themselves must be large
losers. To a certain point the policy of contraction was
justifiable, nay, necessary, considering the imprudent
expansion during the summer, but in all the disasters
that have occurred since the second week in August,
this sudden contraction has a large share of the
blame, and a persistence in the same system now is
positively reprehensible—quite an much so so it is
foolish. When the banks cease to trust, the public fol
low suit; and when confidence is gone, as It to utterly,
tile impossible not to feel hardly towards those by
whom the injury is done. Money in the street fenny
price, from 24 to 60 per Cent. and none but first•cleas
paper saleable at all. There is nothing doing in 'Ex
change. Rates continue as low as ever. The cash
transactions at the Sub-Treasury for the day were as
follows
Total receipts, $150,302 00 $lOO,OOO traraf fromßost
Payments, 282,957 80 23,000 California drafts.
Balance, 0,480.019 15.
The Customs receipts for the day, for duties, were
$43,000 You have doubtless already heard of the
failure of Bowen, McNamee, & Co., the great dry goods
bons°, as well as that of Wm. 0. Lane & Co r one of
the most stable houses la that line in the Union. As
an evening cotemporary well remarks, " When houses
like this go there remains small hope for weaker con.
cerne. ll T he meeting of merchants, yesterday evening,
at the Astor 1100.118, resulted in a resolution to recom
mend the banks to extend 117,000.070. Many of the
leading banks were represented, and it is hoped that
such a resolution will not be disregarded.
The Block market Is again lower, and very unsettled.
Reading closed at 25 ; New York Central at 52X ; Erie at
10; Illinois Central at 77 ; Panama at03,1‘ . ; Chicago and
Rock Island at 50; Milwaukie and Mundrampi at 14, and
Pennsylvania Coal Company at 51 Bank sloths hare
also fallen eonalderably. while New York State semi
ritlee have advanced a trine
. .
MARKETS.--Asses—Are again lower and quite un•
settled, with sates of 50 ME pearls at 15 75. Pots are
quoted at Lb uata 50.
Degenerate—The market for State and Western
Moue, owing to a brosk In the canal arid a small supply
on sale, advanced tale cents •Ir bbl. on the low grades.
The sales are 10,200 bbts., at $4.55e8e.65 for common to
goodfitate ;$4 80035 for extra Stale ; 50554.66 for
common to good Michigan, Indiana, Ohio, lowa, &c.,
and $4.60055.50 for extra do. Extra rouoclheop Ohio
shipping brands are quoted at $5.25055.50.
Southern Hour is more active, and superfine is scarce.
especially the common qualities • we notice sales of 3,100
bbis at $5 40645 65 for good and standard brazil' of su
perfine Baltimore, Georgetown, Fredericksburg., &a.,
and $.5.75a51.25 for favorite, fancy and extra brands
do.
Canadian flour is steady, with sales of 500 bbls at
$5.150635 for the range of extra brands.
Rye flour is nominal 5'423.75.55 for the range of floe
and superfine.
Corn meal Is also nominal; we quote Jersey $3.70,
Brandywine $4.51.25.
Wheat is steady and arm, but there Is not mach acti
vity; the sales include 3,800 bushels red winter Ohio
at $l. 05 ; 1,800 white Illinois $l.OB. 4,400 white South.
ens at $1.25.11 37 ; 5,600 red Smiths= at $1.=e51.26 ;
4,000 common white Missouri at $1.20; 12,000 Mamaltaa
Southern at 95.1.10: and 9,800 white Michigan at
$1 IT.
Rye Is dull and heavy at 73.75 cents.
Oats are firmer; we quote Southern' 30:233; Jersey
30042; State 49052; Western 52955. '
Corn Is in fair request, with sales of 21,000 Muskets at
60.700 for mixed Western, mostly at 69; Sonthern yet.
low Is quoted at 71.73.
' Cones continues nominal.
Psonsloss—Pork has advanced, both for mess and
prime; a contract for 1 000 . bade meta was settled to-day
at $23.50, and the nominal rate is now $23 509234 the
sales aro 24(1 tddi prime at $18.218 50. Dressed hogs
are selling at 9e9MO. Beef is only in retail demand,
and is lower, with sales of 70 bbls at $140115 fur re
packed Western, and 215.504516 for extra mesa. Beef
hams are dull at 2179/18. Bacon is dull, with small
sales of Western smoked at 14e. eat Meats are heavy,
with small sales of shoulders at 10)4c; hams are nomi
nal at 11 ellg. Lard la dull, with sales of 76 tea and
bbl, at ttiotbo• BAtter and Cheese are unchanged.
WHlgg/T i 5 armor, owing to a break In the caned,
which will limit the receipts for a few days; the sales
are 450 bbls at 230=%c for Ohio and State,
NEW EOM STOOK EX
'HANOI BALES, Oct. 8
/MID.
11100011
3,000 Mieb Ste 60 7-1
1,000 N Y St 63 01
/ 0 ,000 N Y 5153 '74 82
2,000 Virginia 8e 77
1,000 111 Oen R Bonde 68
1,000 do 67
10 American Ex Bk 83,1(
5 do ea
YWOwn Coal Co 010 5 1 (
40
'lO Patt Bank 58
,6
250 PA Coal Oa 51
5 Panama It 63,4
60 11l Central B
20 Gal & Chleago R 65
60 Chic & R lal'd R 66
10 Hill & Wes P. 14
600 Reading R e3O 25
150 Nl' Can R .10 52
192 do 52x
107 Del & Hod Cl Co 80
95 do 79
50 do 19X
60 do a 79
10 Mch Ro&N I R old V.
20 Nllro&Hartrd R 93
350 Ririe R 10
160 Harlem RR 7
THE MONEY MARKET.
PBII.IIDJUJ.IIA, October 8,1851.
The ftnewetehity which apparently hangs over the ac
tion the Legislature at lie present session, makes it
mord kligtemiit than ever to negotiate any kind of paper
Upon the street, while the banks ere toe distrustful to
biaketnajt loan, and too timid ems to renew old dam
for the fall "ansount. the cosisequence to natarally
enough, en Increase of the general distress, and an al
most total stagnatiori of every kind of business. The
stock market chum largely in the universal depression,
and the sales are to a very limited amount at falling
prices. Pennsylvania Railroad has declined to 32%, and
Rending Railroad to 14.
At Cs o'clock, this evening, the business men of the
city are holding a meetmg in Independence Square, for
the purpose of urging upon the Legialature the neeetai ty
of adopting some means to relieve the pressure under
which they are laboring. It Le Largely attended. The
report of the proceo4ongs will be found in another co
lumn,
In our eohunne of the 7th inst. was insertad, from
the North Americas, a communication signed .E.
with the comments of a correspondent "Penn," both
favoring the ides of a law to allow the banks to charge
zeros per cent. interest for their loans ; of which on.
per cent should be paid by them to the State ass fund
toward the reduction of the State debt. By the tele
graphic report from Harrisburg to-day, we notice that a
similar i , roposition has been broached in that body by a
respected member of the State Senate.
We are entirely and unequivocally in favor of the
abolition of the usury laws, believing that attempts by
legal enactments, to Urinate price at which money may
be bought awl sold to any deed rate, have never been
productive of beneficial multi to those for whose ad
vantage they are ostensibly made. We are decidedly of
the opinion that every busineu interest of our dikens
would be benefited by an enactment, throwing open the
trade in money to the same freedom that Is permitted to
the trade in any other commodity Sikh men need to
buy or sell.
Bat we are unable to ?warder) the turtles or polley of
an enactment cook as is proposed by the parties above
alluded to. We regard it as simply ► proposition that
the State shall fleece the bank', and, In return, allow
the banks to Bocce those whose necessities nuke them
borrowers. The proposition Is unjust, and a law In ac
cordance therewith, would bear with great sorority upon
many of those least able to support the exaction.
All whose attire business operations keep the
moss of the community employed—the mechanics,
the manufacturers, the merchants, and the traders
of every kind—would have to bear, in addition
to their fair proportion of the burden of the State,
an additional per tentage, ►mounting to many times
their equitable propornon, while the owner of real
estate; the capitalist who employe his money in buying
promissory notes, at the hands of brokers; the man
whose wealth is sufficiently large to make him inde
pendent of bank accommodation; the owner. of bank
stock, who live in retirement upon their dividends, and
the wealthy non-producers of every kind, living in
idle else upon Axed incomes, would escape upon the
same footing with the man who was too poor to own a
bank note, or him whose credit was too bed to get a
bank discount
The fairest of all taxation, where it can be honestly
and equally applied, le an income tax, under which every
man would be required to pay a per rootage of hie ris•
seipts for the year to the support of the Government.
1101 this tax on discounts would require one class of
the community to pay largely upon a Malted income,
and allow others with tea times their average receipts
to escape almost entirely. A more unfair propos.tion
than that which would force a man, beesasse 141 business
obliged him to pay a bank six per neat. foxa tome, to pay
seven that the State might be leenetitnd by the additkm. ,
al exaction, has rarely bola conceived.
The total import of foreign Goode at New York for
the nine months of this year, is 51E18,823,000
Foreign specie 8,880,000
Total
For the same months usllZtt
Foreign goods
Foreign specie . .
$113,251,000
The comparlmo. of the exports of the year, thus far,
with tkom of the same time last year, results as fol
.
low% .
1851. 1856.
From Jan. 1. From Jan. 1
.$47M3,000 $57,935,000
. 7,130.000 3,302 000
. 39,488,000 21,488,000
Produce of U. 13 ...
Foreign re-exported
Specie
Total all exports $87,851,000 $89,125,000
Decreased exports in 1857 $274,000
The ousts:o4 revenue at New York, from JAl:luau to
September, 1857, inclusive was 3k2,477,350
For the same time In 1850 37,065,557
The receipt/ of gold from California, for 1657,
amount to $22,617,919
For the lame period last year 29,760,016
Decrease from California
Increase from Europe...
Net decrease of specie received 1.612,097
The receipts of the New York and New Haven Natl.
road Company for September, lElST,vere
Passengers,
Freight
Less due other roads
E 87,100 21
Receipts September, 1858 90,230 28
Decrease $3,031 04
The earnings of tke Galena and Chicago Union Rail
road Company, for the month of September, 1858, and
1857, are as follows :
VN4,91 . 7.10 $167,638 42
107,032 30 74,484 56
4 , 462 62 4,470.21
Freight....
Paseengeri
ko.
$330,413.03 r.A8,845.18
89,667.90
Total
Decrease..
FLOUR AND GRAIN IN NSW TORS —The receipts
by cabal at tide-water during the fourth week in Sept.,
in the years named, were u follows :
1856. 186?.
Ylour, bbls 33,676 89,778
Wheat, bu 672,970 312,191
Corn, bu 722,901 239,822
Barley, hu 220,667 102,811
The receipts at tide-water from the opening of the
Cantle up to the lit lost . Dave been as follows ;
1835 1866. 1657.
Flour, bble 911,413 646,167 383,488
Wheat, Ina 1,393,475 6,437,864 2,414,477
Corn, bu 7 684,773 7,687,437 4,638,048
Barley, bet 326,874 734,461 625,118
By reducing the wheat to lour, the deficiency is equal
to 1,087,360 barrels of *oar. It should, however, be
borne in mind that the Acre figirres'do not incluSet h e
receipts of railroad .
P.tmoses, Asstostssars, &o.—The following are the
reported failures, assignments, ke., for the week, which
we take from the New York Independent:
Marcus Hull, Hinesburg, Yt failed and assigned.
J. W Clarke & Co. "Bankers: , Boston, suspended.
Lawrence, Stone, & Co , Boston, New York and
Philadelphia, "Dry Goods Commission Merchants,"
suspended.
S Prothingham, Jr..k Co.. , Dry Goods Commission,"
Boston, suspended'
Butler, Keith, & Co.. "Hardware," Boston, sus.
pended.
Riehanlson, Kendall, & Co , "Dry Goods," Boston,
suspended
Dutton, Baldwin, & Macomber, "Dry Goods Commis
sion." Boston, suspended.
Sweetter. Gookin, & Co , "Dry Goods," Boston, sus
pended
Moses Pond & Co., "Stoves," Boston. suspended. _
Parsons, Cutler, & Co . "Dry Goods," Boston, im
pended; liatelities about $400,00 0 .
Benjamin iiollard. ,• Commission." Boston, suspend
ed ; liabilities not large and means supposed to heal:opts
to pay in full
Stephen Bartlett, "Sugars," Boston. suspended.
Peter C. Jones. Paper." Boston, suspended.
Blake, Barnard. &Co " Agricultural Implemeats,"
Boston, failed.
Proctor & Wood, " Produce," Boston, suspended.
Charles Smith," Navel Stores," Boston, failed.
John Emerson. "Coal," Boston, failed.
Abel Tompkins, " Books," Boston, failed.
Charles Rice, " Straw Goods" Boston, suspended.
I. H. Spring, " Fancy Goods," Boston, failed.
William Haul:, Boston, gone into u 33 . ll `e.eY-
Suirritt & Hall. Waterbury, Conn , assigned.
Alexander Wood, Thompsonrille. Conn , failed.
Pierre Choteau, Jr & Co , New York city, suspended
and assigned. The iron how() of P. Chote,au, Jr., San
ford, & Co., hare not stopped, and, we are assured, wilt
not.
Clark, Dodge, & Co., " Bankers," New York city,
suspended.
Swift, Ransom, & Co.. " Bankers," New York city,
suspended.
Hutchinson, Tiffany, & Co.,
_" Dry Goods Commis
sion," New York city, suspended.
Pettibone & Platt, - Hardware," New York city, as
signed
T. H. .k. E. H. Brown & Co , "Dry Hoods." New
York city, suspended.
Herman C. Adams, New York city, assigned.
Charles A. Hands, New York city, assigned
Corolla & Son, "Pry Cloods.” New York city,
=spaded.
J. D. Philips & Co , " Pars," New York city, =u
pended
Hiller, Bradley, & Hall, " Saucy Goods,' New York
city, suspended.
H. G. Nichols & Co., " Iron," New York city, =s
pends&
Bicker. & Starr, " Hats," New York city, Mt
pended.
Drey & Sanders, " Findings," New York city, Billed ;
liabilities about Stio,ooo.
West, Caldwell, dr Co., "Hat Findings," NIIW Tort
city, suspended i ask an extension, suad will tuxlcittlit
wily pay in full.
Ballard, Shute, & Co., " Furs," New York city, AILS.
pended ; ask an extension of eight months, and alter to
pay in full
Star & Underhill, " Hats," New York city, sus
pended.
Townsend, Rumor, & Co., "Taney Goods," New Turk
city, suspended.
Walker, Worth, & Co., •• Gra=s," New York city.
suspended.
Sargent, Brother, is Co., " Hardware," New York
city, suspended
Tan Yatkeoburgh & Co., "Straw Goods," New York
city, suspended
Frank & Strauss, " Clothing," New York city, sus
pended
AC. Everts &Co , Drugs," New York city, nu
pended.
A G. Ferry & Co , " Jewelers," New York city, sus
pended.
Samuel notating &CO Salt," New York city, Ma
peride4.
S. Swan & Bro., "Dry Goods," New York city, sus
pended
Yanderbnrgh, Bonnett, & Co., "Fancy Goods," New
York city, suspended.
James Cropaey, " Dry Goods," New York city, failed
and assigned.
A G Peckham, "Jeweler," Neon - ark city, suspend-
H. E. Hatch, " Dry Goods," New York city, failed
and assigned.
W. B. McKenzie, " Mantillas," New York city, fatted
and compromised.
McCormick & Simpson, "Dry Goods," New York
city, failed.
John H. Clark, "Butter," New York city, failed.
Charles S. Matthews, "Hotel," New York city, sus
pended.
Brooks & Armstrong, "Dry GINA'," New York city,
suspended.
lile, Felt, & Hall, "Straw Hoods," New York city,
suspended.
Boss, Newel!, &. Co , " Fancy Goods," New York city,
failed.
Blake & Brown, " Silks," New York city, a
Hanford & Brother, " Clothing ," New York
city,
suspended,
McArthur, Byrne, Gibbons, & Co., "Dry Goods," New
York city, suspended.
Gage, Dater, A Bloom, "Dry Goods," New York city,
waspended.
Livingston & Ballard, "Grocers," New York city,
suspended.
Ely, Bawls, & McConnell, "Dry Goads," New York
city, suspended, ask an exterunon, and propose to pay in
full.
Yelverton & Walker, "Grocers," New York city, sus
pended.
Chapman. Pike, & Co., “Tancy Goods," New York
city, suspended, with liabilities of g 250,000, but have
&nominal surplus of SlOO,OOO.
Lee, Murphy, Sr. Avery, "Straw Gooda," New York
City, suspended.
Melliss & Ayres, " Importers," New York city, sus
pended.
Willetts & Co., " Hardware," New York city, =U
pended.
Bowen, McNamee, & Co. "Now York city, suspended.;
ask AM extecslon; have a large surplus; propose to pay
In full, with interest.
S.P. Burton, Albany, N. Y., assigned.
John Morris, Utica, N, Y., assigned.
Edward Roger., West Troy, N. Y. assigned.
Rochester Novelty Works, Rochester, N. Y., as
signed.
IL W. Morgan & Son, Plattsburgh, N.Y., resigned.
Powell, Ramsdell, & Co., Newburgh., J.Y.. suspended.
Philip D. Longford, Bane, N. Y., assigne d.
Charles C. Hart, Binghamton, N. Y., suspended.
L. W. Storms, Le Boy, N. Y., assigned.
Andrew Outtenon, Pulaski, N. Y., assigned.
Solomon Rathbun, Verona, N. Y., andgried.
Lewis Warren, Rigs, N. Y., assigned.
George Warren, Riga, N. Y , anugned.
Alfred J. Wagner, Fort Fiefs, N. Y., assigned.
D. W. Churchman A Co., "Dry-floods Consissiados,"
Philadelphia, suspended.
Rogers, Sinnlckson, & Co., "Coal," Pluladelydila, sus
pended.
Lippincott, Cot6n, & Co., "Dry Goods," Philadelphia,
acupended.
White, Slicers, & Co., "Sugar,' Phlbssfelphia,l4/1-
vended.
John Ely & Co., " Dry Goods," Philadelphia, sus
pended.
Allinane & Jenks, "Oil," Philadelphia, suspended.
3. Halsey A Moors, Dry floods," Philialalphis, =U
pended.
E. Arnold, ,• Dry Goods," Philadelphia, =speeded.
Lucien Scott, Scranton. Penna., assigned
J. M. Hughes, West Chester, Pmts., failed.
IL H. Wanon,Ssraniaala, Geo., failed and assigned.
Kennet. 511 , & Co., New Orleans. la., scope:don
B W. Cl rke & Bro , " Bankeri," St. Lasts, sus
pended.
James H. Limas & Co Basiters, ,- St. Loa's,
=mended.
Choteau, Ibuldttn, & Valle, St. Louis, Mo. , Cle.
pended
George M. Willing, Felton, Mo., =speeded.
Hutchings & Co., Bankers," Lonisrife , By., as
signed.
John S.midt & Co., " Bankers." Louisville, Sy.. s=-
pended ; norednal "meta, $115,132., and liabilitlm,
59n054 ; will probably soon resume.
Smocn Steinan, Louisville. Sy , suspended 1 . 3 "-
Signe&
Printery, Drake, & Co., "Bankers," et, fade,
=spend=
Stireere, Steel, & Co '
•• Iron " Ohio,
suspended—tt is thought temporarily.
M. A. Raymond, Cincinnati, Ohio, assigned.
I. P. B. Jewett, Cleveland, Ohio, assigned to G. E.
Hernek.
A. & L. Smith & Co , Marion. Ohio, assigned.
V. C. Hanna, Indianapolis, Ed., assigned.
Swift, Brother, & Johnston, " Bankers," Chicago,
El., suspended.
Moors, liollenbush, & Co., Bankers," Quincy,
=vended
Fledged B. Landon, Bloomington, 111. , failed; liabili
ties about 190,000.
Burdett & Sanger, Bock Wand. 111., assigned.
Connor & Jolley. Fulton City, 11l , suspended sod an
A
Ig ned.
Dail; & Barton, Janesville, Wis , aasittaed.
D S Donde, Madison, Wis, assigned
Greco, Thomas, & Co., Burlington, lowa, suspended.
lrickershus & Wiltams. Imrenpart, lowa, La-
Young, Smith, & toner, Oskaloosa, lows, auigaed
It H. Brett, Bonier," Toronto. C. W wiped
W B Aiken, Oakville, C. W , failed ad left the
plo.e.
PHILADELPHIA STOCK EXCHANGE SALES,
October 8, 1351.
lirported kw R Ara dry, Jr., Stork Broktr, No.
SO} Walnut rtrett.
'FIRS? BOARD
6,1 , 0 E & Dsl CI Br 15.6214 1 Peal. B 34
400 City 6's 52s .5 do SIX
2,4 do 624 i, 1 10 do 33A1
la.l Nesr..93,y; 15 do 33si
300 du New-93 a 4 do
WO do Xer..93 I
5 do 31
100 do `iew..93,4 6 do 31
1,000 Penns 5s SOX 20 N Pear R...... 8
1,000 do Sd S Reading R...... 143
I.OJO do SI .50 do ..........14
563 N Pei:malt C5....46 SO do ... esals.l4
500 do 46 103 do .b5..14
12 Penns R 34 10 Scholl Aar prafl4
5 do 45..34 :03 'Unica Caaal.... 24(
BETWEEN BOARDS.
1,000 Wilmington R6s SO 150 City R6a ..P.R.R.63
100 City R e5.P.R.R.8.3 1 4 Atineblll It 51
SECOND BOARD.
2.000 Penal 59 81
IMO do 81
2 Penns 8.......324(
12 N Penns R
Z:10 City b sa
1,000 do 88
2,500 City R 05..83
1,500 do 115..13
1,000 do B.lli
CLOSING PR
Bid. Asked.
84, 'BB.-120
Phlleds Be 82S 83
do RR..
do New 931 93X
Pewes 5, 81
Reading R 131, 11 I
do BOILLI da Cd
do M 6ee,'44 70 80
Penns ER 3 - 2 35
Morrie Cant Con 35 30
Sehy 1 Nardi '025! 56
do dtock 7
.. $193,573,000
$172,101,000
1,150,000
o, l t s ot A , e : o s e , i l o i s s ;o . r FLooa end Melt for the week ending
Barrels of Superfine..
do Tine
do Middlings..
do Corn
do Condemned
PHILADELPHIA MARKETS.
Ocroasa Sth—Evening —Breadstaffs are unchanged
and dull ; there is s cry little shipping demand for Plow,
and only about 600 bbl.. have been disposed at 55.75 for
good Kentucky extra, and le far Zanerrille extols family
Flour. Shipping brands are generally held at 53.60 Se
bbl , which is above the riews of buyers, and there is
nothing doing except to supply the local trade., at from
55 60 to IK P bbl according to brand and quality.
Corn Meal and Rye Flour are unchanged awl dull at
prnious quotations Wheats are selling to a =dent.
extent only, at yesterday's prices, which range at 61 12
ersl .10 for common to prime red, and $1 20 toll 03
white, • . ith s. des of 4 00e5,0001aschels at ths•e retet
Corn is attaly, and stout 2,ooobuthels hxre been sold.
in lots, at 23015 c for yellow, the latter for prise, and
lac. for white. Oats are not CO active, end about 5,000
bushels Southern hare been sold at 40a52c , which is a
decline. Bye continues in demand, and sales are re
ported at T2o lac. ; the distillers are orering lose. Bark
is coming in slowly, and first quality quarcitron sell• at
$ 35 ton. Cotton is not inquired for. and business, as
regards sales, to at a stand, too little heLeg done to
establish a quotation at the present time. Grocerlet
and Provision' are in a like condition, and the Ores of
both are merely nominal. Seeds are unchanged and
dull. Whiskey meets with limited sale at KiXsenc.
for bbls., and 20021 c. far drudge and tilde.
$100,711 7B
12,000 00
$112,111 73
. '23,512 52
Accident.—Yesterday morning, about Woe
o'clock, a home attached to an expre.sa wagon t oo k
fright and ran away from Front and Green stmt s .
The runaway came in contact with a wagon w ont _
tug to Mr. George Beck, emashutg it up. Igobo(y
was hart.
Coroner De!arm' yesterday held an inquest
on the body of a lid, unwed . Philip Moont, echo
was found drowned at Wastuureat street wharf;
.ad also on the body of a woman, who di e d en d_
only at Bridesburg.
CIS-STEADT
fisted
Say' NIT Prat 13% 19
{Vmspn & E 194 R 9 11
do lit incrtl's 62 66
do do 4icu 49 56
Loot Island IX 7X
Vicksburg 5 7
Ousel Beak 7X 8
Lebigh Zir.- X 1
Ccuun Casul 2 2x
New Creek x
CsUwisse RH— 6 9
13,484
44
. im ,
. 4510
1r
STEPHEN MILLER, aspsemi'