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'tement in California. Monetary Exc tornia Sept. 8.] From the Alta Can day must contain We regret that our columns n of Henry M the announcement of the assignment in Naglee, one of the oldest of our bankers. This, connection with the other stoppages and assignments which have recently been made, caused quite panic yesterday, and there was general run upon all those having money OR deposit The first run commenced on Thursday, and was confined almost entirely to the banking house of James King of William The drafts on that ban were very heavy on that day On Friday, very little was drawn from him, the tide having set against Messrs. Burgoyne & Co. and Henry M Naglee, and continued all that day On Saturday morning, at 6 o'clock, Mr Naglee's doors remained closed, while the other houses opened. He had suspended The consequence was an immediate rush to Burgoyne & Co., James King of Villiam. and Wells& Co. Depesitors very freely from the two for mer, who paid out as fast as possible, converting all hands into paying tellers There was not large call or Wells& Co., though large amount was paid out by them. It being the third day probation of Mr King, the crowd with him was not so great as might have been expected At Burgoyne & Co.'s there was large crowd the whole day, resembling more the gathering at the Post Office on the arrival of mail steamer, than anything else we can compare it to. Mr Plume acted like man, and a banker who understood his business. de-posted up a notice that he would keep open to accommodate the public until six o'clock, (an hour later than usual,) and also that his bank would be open on Sunday We admire the spunk which dietated these offers Mr Plume repeatedly requested those in the crowd not having checks, togive way to those who had. We noticed a number of women about Burgoyne & Co 's doors The exciteme nt was confined to no sex We heard a number of people congratulating M: King on the perfect nonchalance with which he met all demands. It was amusing to stand by and hear the excuses made for with awing dedosits. Some were going to Panama and some to Humboldt: one man had purchased a drove of sheep, and another a drove of horses. While standing at Mr King counter, taking notes, we heard one of his depositore making a long ex cuse for withdrawing Really, sir, said Mr. King I have net time to listen to you You have your money and it belongs to you. Excuses are entirely out of place don ask you to let your money remain Certainly, sir if you have not confidence in me, don't deal with me At such a time, favors are not asked for We understand that when Mr Plume announced his intention to keep open on Sunday, to accommodate depositore, that he received the cheers of the crowd. Notwi ithstanding the excitement, the amount deposited with Burgoyne & Co., yesterday, was quite large The crisis' then has come Only one banker has closed The others have met the emergency promptly And they will continue so to do. We will venture the remark that Messrs Burgoyne & Co James King of William, and Wells & Co., wi reap an abundant harvest from this trial. Two or three days will suffice to allay the excitement, which will have its good effects, as it has had its inconveniences It will tell who's " thar Mr King paid over about $130 000. Burgoyne & Co paid much larger amount, but we did not learn the precise total Such state of things is not to be coveted at any time, but we think this will place our bankers in most enviable position A "run' on banker here, tries him much more severely than one upon a bank of issue at home The latter has grace; the former none It would be impossible to get together all the notes of any New y York or Boston bank, and present the at the counter in one, two or even three days So long as notes are in circulation, the bank has the use of the funds received for them. But our bankers issue no notes, and depositors come upon then without warning, and they must be prepared Therefore, we say, our bankers. in sustaining themselves, deserve all credit. Notwithstanding the temptation to loan money, at the large rates of interest here prevailing, we could name bankers W who have all along beer prepared to pay all depositors at any moment. They had coin amply sufficient to meet any draft which could be drawn This is right and proper; for, no matter how good the security may be, the banker, if he lends out his depositors money, may find himself, at such time as the present, in embarrassed circumstances Neither houses nor lands will meet the call. Nothing short of the hard cash We are notaltogether certain that the effect upon our own business community will be beneficial but we are much distressed at the result the recent frequent stoppages will necessarily cause abroad We think still, however, as we expressed yesterday, that the present tight state of money matters cannot continue, and the present embarr assment will soon be over That such may be the case, we most earnestly hope, for is a most distressin thing to see that the toil and enterprise of years should avail Rought [From the Alta California Sept 15.1 The recent assignments which have been made in Sacramento and Sank rancisco have caused much excitement and a good deal of nervous apprehension among business men Some of the most tentive firms have, when least expected, assigned all their property for the benefit of their creditoreexhibiting, in almost every case, a large amount of indebtedness In some instances it has been confidently asserted that all the liabilities would be satisfied, and surplus left on hand; but in othe there have been no hopes of such a result. We cannot but regard financial matters at the present time as in a very unsettled state, and confidence has been impaired to very considerable extent We must attribute the present pressure in the money market,and the unsettled state of business generally to the losses arising from the three great fires with which we have been visited, and in the unconquerable spirit of speculation hich has been carried on vast an extent in our community within the past year Real estate operations have produced very general mbarrassme nt. and in the present unsettled state of California affairs we cannot at all wonder that such has been the case But we have every hope that this will not last, and that our merchants will recover from the present depression, and rise again triump hant They must, however exercise more caution in their operations of all sorts than heretofore, and will doubtless see the necessity of doing business less loosely than has been the custom of the last year. We look for a very general revival of business throughout the country during the latter part of the present month and with confidence that we shall not be doomed to disappointment [From the California Courier Sept 14.] Since the sailing of the last steamer. our money market has been much depressed, and some of the oldest houses have been compelled to succumb To say that this state of affairs has been brought about by over-trading, is only to what is in every one mouth ulsions of this sort always occur in places of rapid growth, and although there may be cases of individual detriment, much to be deplored, the result 18, upon the whole. beneficial The evil soon corrects itself. The prudent and solvent sustain the shock. and are brought into position where their grave judgments and stability are rendered more available to themselves and others, while those who, in the eager pursuit of wealth, embark in wild speculations, and grasp at more than they have strength to carry, must of course be prestrated The state of trade for some time past has been quite unsatisfactory Since the failure of Barton, Lee & Co., and one or two other firms of lesser note, engaged in the same business. at Sacramento, feeling of distrust towards banking houses has been very enerally prevalent throughout the country This feeling has been favored by many absurd and mischievous rumore, circulated in the interior, and even published in some of the country prints, with little judgment, and less decency, a course to be reprobated by every good citizen, and productive only of evil
