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Suspension of the City Bank, Columbus, Ohto. BUFFALO, Nov. 10, 1854. The City Bank of Columbus, Ohio, closed its doors this morning. The liabilities are understood to be large. Destruction by Fire of a Salaratus Factory. ROME, Nov. 9, 1854. The salaratus factory of Darling & Co., in this village, wausery uestroy eu by are this forenoon. Loss about $7,000. No insurance.
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shipment. It is reported that the Pacific will take out, to-morrow, about seven hundred thousand dollars in specio. This will leave a million and a half for the banks, which will raise their aggregate to more than eleven and a half millions. Their returns will probably show that sum in hand, and that is considerably above an average. The City Bank of Columbus, Ohio, has suspended payment. Its liabilities are said to be large. The earnings of the Chicago and Mississippi Railroad Company for the third week in October, amounted to $29,141 94. The January dividend of the Michigan Central Railroad Company will probably be paid in bonds at par, instead of money. The eight per cent convertible bonds of the company are offered at pas, and the inconvertible eight per cents at ninety-five per cent. This accounts for the late depreciation in the market value of the stock. The true policy would be to pass the dividend altogether. The official report of the business of the Baltimore and Ohio Railroad for the month of October showed the revenue of the month to have been as follows:-
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money EXCITEMENT. PITTSBUUGH, Nov. 10.-The panic in the money market has subsided. King's, broker, suspension was but temporary, and will resume in a few days. CINCINNATI, Nov. 10.-No new feature in monmatters. There is a report current that the City Bank of Columbus has suspended.
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BANK SUSPENSION. BUFFALO, Friday, Nov. 10, 1854. The City Bank of Columbus, Ohio, closed its doors this morning. The liabilities are understood to be large.
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The Bank Failures. Failures are the order of the day. A commercial crisis has come, which threatens to overthrow the would be "money Kings" of the country, and exhibit their affairs in a true but not very enviable light. Storms are said to purify the atmosphere, and it is to be hoped that the financiel storm now upon us will clear away the rubbish and show business men where and how they stand. The heavy failures which have recently occurred, have caused a feeling of insecurity throughout the whole country, and the people very justly begin to make an examination of their financial concerns. A month or two ago every day brought us news of Bank failures from New York, Michigan, Indiana, Kentucky and other States around us, 80 that some began to congratulate themselves, that our home institutions were better than foreign, (this may be the case; they are all bad enough;) but the recent news from Cincinnati, Dayton, Circleville, Columbus and Cleveland, is beginning to shake the confidence of the people in every thing, like banking institutions anywhere. First came the failure of Ellis & Sturges; about the same time, word was received that the Circleville Bank had 'gone by the board.' The next day the Miami Valley Bank "suspended payment." The day after, the Clin. ton bank of Columbus was said to be in a fainting condition, and last, but not least the Canal Bank at Cleveland has "given up the ghost" and robbed its depositors and time draft holders of one hundred and eighty thousand dollars! Beautiful institutions truly. If a poor man were to steal $35 to get food for his family, he would be deemed a felon and sent to the Penitentiary; but a Bank may receive thousands on deposite just on the eve of failure, suspend payment, defraud its credit. ors, out of their money and its directors and officers go unpunished! These are the same privileged institutions which are exempted from the payment of taxes, and as a consequenee are licensed to defraud and wrong the laboring classes without hinderance or restraint. The circulation of some of these Banks however, is secured by State or United States Stocks. Where this is the case the bill holders are secure. But the depositors of money with them, are without security and as a consequence lose the whole amount of their deposites. Below, we append a list of the only Banks in Ohio whose circulation is secured by State or United Statas Stocks deposited with the officers of State: Bank of Geauga; Canal Bank of Cleveland; City Bank of Cleveland; City Bank of Columbus; City Bank of Cincinnati; Commercial Bank of Cincinnati; Franklin Bank of Zanesville; Mahoning County Bank, Youngstown; Sandusky City Bank; Seneca County Bank, Tiffin; Western Reserve Bank, Warren; Bank of Commerce, Cleveland; Bank of Marion; Champaign County Bank, Urbana; Franklin Bank of Portage Co., Franklin; Forest City Bank, Cleveland; Iron Bank of Ironton; Merchants' Bank of Massillon; Miami Valley Bank of Dayton; Pickaway County Bank, Circleville; Springfield Bank; Stark County Bank, Canton; Union Bank, Sandusky City. 05 P. S. Since writing the above, news has reached us of the failure of the City Bank of Columbus, Farmers Joint Stock Bank, Buffalo; Wondbury Bank, Connecticut and Exchange Bank, Buffalo. So they go. We are a fast people.
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A BATTLE ON THE PACIFIC. % NEW York, Nov. 10. The California papers received by the North Star, contains intellgence of a battle between the Allies and the Russians on the Pacific. The allied fleets attacked Petropaulowski, in Kamschatka, on the 30th of August, It is formidable fortress, The atwith 120 guns and 1800 men. The fort tack was made by six vessels. was, deserted. by the Russians after a fierce cannonade by 250 guils. The next day another fort was deserted, but the Allies, in landing to take possession, full into an ambusende and fled, after a loss of 150 killed and wounded. The Allies took another redoubt, spiked the guns, and captured 43 Russians: Two Russian frigates in the harbor were much damaged. After this defeat the Allies abandoned further attack. Admiral Peirce, of the English squadron, shot himself with a pistol before the action-supp: sed accidentally. After leaving, the Allies captured two vessels, one the Sitka, with provisions and arms for the garrison, the other a schooner, which was burned. More than 130 lives were lost by the wrock of the Yankee Blade. City Bank Closed. The City Bank did not open its doors this morning. A little before ten o'clock the following placard was put on the door : Owing to the unprecedented momentary excitement that now prevails and the severe stringency of the money market, which has produced such disastrious results elsewhere, it is my painfull duty to announce that this Bank has been compelled to suspend payment of its deposits. Its assets have been put into the hands of R. W McCoy, Wm. S. Sullivant, and D. W. Deshler, as trustees, to adjust and settle its affairs. The interests of the creditors will be duly protected. The indulgence of depositors and others is solicited in this distressing event. The circulating notes of this Bank are secured, as is well known, by Ohio State stocks, deposited with the Treasurer of State, and, I am assured by the officers, will be received in the payment of taxes. THQS, MOODIE." We find the above in the Journal of last evening. The solvency of the City Bank has been recently indorsed, we believe, by that paper. The funds of the State Board of Agriculture, the proceeds of the late State Fair-the school and other funds of the city of Columbus-and the funds of this (Montgomery) township, are locked upin vaults of this bank ! Its noteholders will net suffer-the notes being secured by State stocks. Mr. MOODIE, the cashier, we have alwaysreguarded as a gentleman of high integrity, and an accomplished buisiness efforts to sustain the Bank were persevering. The radical error is in the system, and not in the management.-State Democrat, of the 11th. Important Movement-The Conference
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There was quite an active Stock market this morning, and prices were well sustained, until the advices of new disasters at the West were public, when there was more heaviness. At the Second Board, prices were lower, with rather an urgent disposition to sell. There was, in the morning, a prevalent feeling that brighter times were shead, but this wore off during the day, as the failures at the West were announced, and the upward tendency of the market was thoreughly checked. Erie closed at @38f, which were yesterday's prices. Reading, 70, a decline of P cent. Harlem, 27% a decline of 1 P cent. Central was steady. Hudson River, 37. Nicaragua declined 1, notwithstanding the short passage of the Northern Light. Cumberland fell off 1 P cent. Canton was rather better. The Western Railroads, with moderate demand, were heavy. Gold Hill has fallen, within a few days, from $2 to $1 121. In Railroad Bonds, the sales were $100,000, including Incomes, 90; Convertbles, 1871, 701; Hudson First Mortgage, 101; IDInois Central. $87,000 at 67@674; New-York Central, 841. In Bank Stocks there was but done, and the market is heavy. A sale of Indiana 58 was made at 801. Virginia 6s, 93; Missouri 68, 87. In Exchanges there was but little doing, and rates are heavy. Sterling 9@91.; Francs, 5.15@5.12}. The supply is moderate, and the stringency of money checks remittances. The receipts at the Sub-Treasury are $94,380; paid, $336,898; balance, $6,437,901. A small sale of Knickerbocker Bank Stock was made to-day at 25 at auction. The telegraph brings in advices of more financial disasters at the West. The trouble in Cincinnati is not over, and we have news of the suspension of Messrs. George, Milne & Co., a very respectable but not very extensive house. It is supposed they will pay eventually everything. Mr. Hiram Johnson, of Buffalo, owner of the Farmers' Joint Stock and other Banks, has also suspended. The run on Messrs. Selden, Withers & Co., of Washington, continued today, and it is feared that they must succumb. A dispateh from Washington says: The run on the Trans Alleghany, the Arlington, the Old Dominion, and the Kanawha Banks, and also the Exchange Bank of Selden, Withers & Co., still continues, and each Bank is redeeming their notes with those of the others." The Philadelphia Ledger says that some of Selden, Withers & Co.'s paper is in that city under protest, and hear of their certificates of deposits returned here unpaid. We sincerely trust they will be enabled to go through. At Chicago, the City Bank and the Merchants' and Mechanics' Bank (free Banks) are announced as suspended. The circulation of these Banks is secured by six per cent. stocks. The bills of the Napierville Bank and the Bank of Elgin are discredited at Chicago. The epidemic which has apparently spent itself in Indiana has now attacked Illinois. The free Banks of Illinois are however, of a much better class, as a whole, than those of Indiana; and the securities are better. Six per cent. State Stocks only were taken as a basis for circulation, with Illinois Stocks, at 20 per cent we think, below the average market price in New-York for six months previous. In regard to the Woodbury (Conn.) Bank, the Cashier publishes the following card: WOODBURY BANK. (Conn ,) Monday, Nov. 13, 1854. The Suffolk Bank having refused to redeem for the Woodbury Bank, the public are advised not to make any sacrifice on the bills. as they are redeemed at the connter. JOHN ABERNETHY, Cashier. A note from the Auditor of Indiana says: OFFICE OF AUDITOR OF STATE, INDANAPOLIS, Nov. 11, 1854. We are surrendering the Bonds of many of our Banks for their circulation. When the stocks are of different kinds we make the election as to which we JOHN P. DUNN, Auditor. deliver. Yours, The Cincinnati Gazette says: The assets of the City Bank of Columbus have been put into the hands of R W McCoy, Wm. S. Salliver and D W. Desbler, of that city. The Urbana and Champaigne County Insurance Company, at Urbana, closed on Friday. Gold is selling here at 5 P cent. premium. The notes of the Bank of Kanawha sold to-day at 25 $ cent. discount. Bank of Circleville at 50, Kentucky Trust Company at 70, and Newport Safety Fund at 80. There are few sellers of Circleville, however. There is a good deal of confidence in the Bank. The notes of the Clinton Bank of Columbus were again refused to-day. Indiana Stock notes are selling at 25 to 30e discount, but a list of 20 of them will be better in & few days. A private banker at Xenia failed yesterday. Mr. Beckel, of Dayton, has resumed, and the notes of the Miami Valley Bank are now promptly redeemed. J. O. Shoup, of Dayton, has made an assignment of all his assets. The public are advised by the following letter of the security of Ohie State Stock Bank notes: TREASURY OFFICE, Columbus, O., Nov. 11, 1854. W. W. CONES, Esq.-Sir: In answer to your inquiry, I reply that the notes of the Miami Valley B ank, Canal Bank of Cleveland, Savings Bank of Cincinnati, City Bank of Columbus, and all other Ohio Stock Banks will be received for taxes, and all other public dues, at this office, as heretofore. These notes are abundantly secured by the pledge of Ohio and United States Stocks in the ffices of the Auditor and Treasurer of State which stocks are still commanding a premium in New York No bill holder need necessarily lose anything by Ohio Stock paper. Very respectfully yours &c. G. BRESLIN, Treasurer of State. Mr. Flourney, President of the Commercial Bank of Kentucky, says, in a card to The Gazette The rumors prejudicial to the Bank are false, and without foundation. Being absent from Paducah, and not having access to the books of the parent Bank, I can only give a general statement of its affairs. So far, the Bank has been doing a safe business, according to legitimate banking rules. As far as known, no bad debt has been contracted since the institution commenced business, nor any loss 8014tained otherwise. We have a surplus fund of about 10 V cent. on the capital stock paid io, besides the profits of our business since the 1st of July last. We have bills OD New-Orleans, New York, and St. Louis, maturing within the next one hundred and twenty days-mostly within sixty and ninety days-more than sufficient to redeem our entire circulation. The Bank is curtailing her business, and her circulation being diminished. L W. FLOURNOY, Pres't Messrs. 1 S. Goodman & Co. make & very satisfactory exhibit. The assets are said to show an excess of $300,000, after making ample allowance for bad debts, &c. The Northern Light from San Jean, in addition to the gold on the freight list-about $560,000-brings
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THE WESTERN BANKS-More Suspensions. The Cincinnati Commercial states, that in consequence of the pressure, the City Bank of Columbus, Ohio, has been forced to suspend payments of its deposits. The Western banks and banking houses are in a sad condition, and at Cincinnati gold is selling at five per cent. premium. The notes of the Bank of Kanawha sold at 25 per cent. discount; Bank of Circleville at 50; Kentucky Trust Co. at 70, and Newport Safety Fund at 80. The notes of the Clinton Bank of Columbus were again refused at Cincinnati on Saturday. Indiana Stock notes are selling at 25to 30c. discount. A note from the Treasurer of the State of Ohio, states that the notes of the Miami Valley Bank, Canal Bank of Cleveland, Savings Bank of Cincinnati, City Bank of Columbus, and all other Ohio Stock Banks, will be received for taxes, and all other public dues as heretofore. These notes are abundantly secured by the pledge of Ohio and United States Stocks in the offices of the Auditor and Treasurer of State, which stocks are still commanding a premium in New York. No bill holder he adds need necessarily lose anything by Ohio Stock paper
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Among those whounderst and our general banking law, there never has been any distrust of the Illinois Banks. That the people may have their confidence reassured, Hon. P. Maxwell publishes the following: TO THE PUBLIC. The undersigned feels called upon, at this time of monetary excitement, to make a public statement for the benefit of such persons as are not in the way of being correctly informed as to the value of Illinois Bank bills of suspended Banks. Every Bank of this State, under the General Banking Law, has deposited with the Auditor, in the hands of the Treasurer, good interest paying bonds of the several States, to the full amount of every dollar of their own bills; and all registered money is equally secured, one Bank with another. Those that have closed their doors have in no way depreciated the security for their bills:they are of their full value now-but cannot command specie until the Auditor disposes of their bonds or securities according to law, which is required to be done immediately, at which time due notice will be given and the bills redeemed in specie. No sacrifice should be made on Illinois Bank bills whatsoever-not even suspended Banks. P. MAXWELL, Bank Commissioner. CHICAGO, Nov. 15, 1854. In this connection it gives us great pleasure to say that we were assured last evening by one of the proprietors of the City Bank, that they expect to resume business on Tuesday next. We also heard, but not officially, that the Union Bank will resume in a few days. The directors of the Mercantile and Mechanic's Bank also publish a card this morning which looks to an early resumption of business. These facts will tend to strengthen public confidence. Abroad prospects are improving somewhat. The Ohio Statesman says: "To show how little the credit of the notes issued by the Free or Stock Banks suffer upon the failure of those Banks issuing them, it is but necessary to state that the notes of the City Bank of Columbus, the Miami Valley Bank, and the Canal Bank of Cleveland, will be received for taxes and all public dues, as the State hold indemnity for the present and all future contingencies. On the whole we have reason to hope that the worst is over. Let the system of contraction and paying debts go forward. Let all act with prudence and energy, and the community will ere long be relieved from its present financial embarrassment.
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Money Matters. The times are sadiy out of joint just now, 50 far as the Banks and money dealers out West are concerned. For the information and protection of our readers we have gathered up all the items of special interest on this subject that have reached us. They are as follows :The City Bank of Columbus, Thos. Moodie President, closed its doors on Friday last. The circulation is secured by State stocks, and there should be no loss. The notes of the Clinton Bank of Columbus are not received at Cincinnati, but the bank has not closed its doors. This bank was under the old system, and its charter has expired. The Circleville Bank is closed, but its notes are at par at home and 95 cents at Columbus. In Cincinnati there was an extensive run on the private banks. John S. Dye has closed. McMicken & Co. failed on Saturday. Ellis & Sturges, Smead & Co., and probably others, have issued cards, giving assurances that their assets are ample, and that a few stays will be sufficient to reduce them to money, when every dollar of their indebtedness will be discharged. Gold is selling at Cincinnati at five per cent premium! The Canal Bank at Cleveland made an assignment of its assets to Gordon & Hewett, who, it is said, are paying out specie for its bills. The other Cleveland banks take them as usual on deposit. The Exchange bank of Robert Codd, at Buffalo, has stopped payment. Others are expected to go by the board. Hugh D. King, a banker in Pittsburg, has failed. There is considerable of a panic in the money market of that city. The circulation of the Independent banks of Ohio is secured by State Stocks, and is worth dollar for dollar. The following is a list of them : Bank of Geauga Canal Bank of Cleveland City Bank of Cleveland City Bank of Columbus ; City Bank of Cincinnati; Commercial Bank of Cincinnati; Franklin Bank of Zanesville Mahoning county Bank, Youngstown Sandusky city Bank; Seneca county Bank, Tiffin ; Western Reserve Bank, Warren Bank of Commerce, Cleveland; Bank of Marions Champaign county Bank, Urbana; Franklin Bank of Portage co., Franklin Forest city Bank, Cleveland; Iron Bank of Ironton; Merchant's Bank of Massilon Miami Valley Bank, Dayton; Pickaway county Bank, Circleville Springfield Bank; Stark county Bank, Canton; Union Bank, Sandusky city. Though the notes of the several Branches of the State Bank of Ohio are not thus secured, their circulation may be considered as entirely safe.-IVheeling Gaz.
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THE WESTERN BANKS. The Cincinnati Commercial states that in consequence of the pressure the City Bank of Columbus, Ohio, has been forced to suspend payments of its deposites. The Western Banks and Banking Houses are in a sad condition, and at Cincinnati gold is selling at five per cent. premium. The notes of the Bank of Kanawha sold at 25 per cent. discount; Bank of Circleville at 50 Kentucky Trust Company at 70; and Newport Safety Fund at 80. The notes of the Clinton Bank of Columbus were again refused at Cincinnati on Saturday. Indiana stock notes are selling at 25 to 30c. discount. A note from the Treasurer of the State of Ohio states that the notes of the Miami Valley Bank, Canal Bank of Cleveland, Savings Bank of Cincinnati, City Bank of Columbas, and all other Ohio Stock Banks will be received for taxes and all other public dues as heretofore. These notes are abundantly secured by the pledge of Ohio and United States stock in the offices of the Auditor and Treasurer of State, which stocks are still commanding a premium in New York. No bill-holder, he adds, need necessarily lose any thing by Ohio stock paper.
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The Western Banks, The Cincinnati Commercial states that in consequence of the pressure the City Bank of Columbus, Ohio, has been forced to suspend payment of its deposits. The Western Banks and Banking Houses are in a sail condition, and at Cincinnati gold is selling at five per cent. premium. The notes of the Bank of Kanawha sold at 25 per cent. d scount; Bank of Circleville at 50; Kentucky Trust Co. at 70; and Newport Safety Fund at 80. The notes of the Clinton Bank of Columbus were again refused at Cincinnati on Saturday.Indiana stock notes are selling at 25 to 30 cents discount. A note from the Treasurer of the State of Ohio states that the notes of the Miami Valley Bank, Cahai Dank 01 uneveland, Savings Bank of Cincinnati, City Bank of Columbus, and all other Ohio Stock Banks will be received for taxes and all other public dues as heretofore. These notes are abundantly secured by the pledge of Ohio and United States stock in the offices of the Auditor and Treasurer of State, which stocks are still commanding a premium in New York. No bill. holder, he adds, need necessarily lose anything by Ohio stock paper.
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suspended within a few months past. For the benefit of our readers, in these times of bank suspensions, we shall keep it standing, and make weekly additions thereto: Lewis County Bank, of New York. Carthage Bank, do Milrose Bank, do Drovers' Bank, do Bank of Carmel, do Ogdensburg, do Exchange Bank Buffalo, do Patchin Bank, Buffalo, do Eighth Avenue Bank, do Bank of West Killingly, Connecticut. Bank of Ellsworth, Maine. Bank of Circleville, Ohio. Clinton Bank of Columbus, Ohio. Canal Bank of Cleveland, do. Miami Bank, Dayton, do. Woodbury Bank, Connecticut. Shipbuilders' Bank, Maine. Merchants' and Mechanics's Bank, Chicago. Union Bank, Chicago, Ill. Knickerbocker Bank, do Farmers' Joint Stock Bank, Buffalo, N. Y. Farmers' and Mechanics' Bank, Oswego. Farmers' Bank of Canandaigua. Farmers' and Merchants' Bank, Maryland. Merchants' Bank of Macon, Georgia. Milford Bank, Delaware. Merchants' Bank Burlington, Vermont. River Bank Connecticut. Cumberland Bank, Maine. Kentucky Trust Company Bank, Covington. Newport Safety Fund, Covington, Ky. Commercial Bank, Paducah, Kentucky. Trans Allegheny Bank, Virginia. Kanawha Bank, Va. Massillon Bank, Ohio. Ohio Savings Institute, Tiffin. Cochitute Bank, Boston. Elkhart county Bank, Indiana. Bank of Northern Indiana. Bank of Washtenaw, Michigan. Erie and Kalamazoo Bank, Michigan. Arlington Bank, Washington, D. C. Bank of Connersville, Indiana. Bank of Hallowell, Maine. Akron Branch, Ohio. Merchants and Trader's Branch, Cin., O. City Bank, Columbus, Ohio. Commercial Branch, Toledo, Ohio. Ashtabula Branch, Ohio. Napersville Bank, Illinois. Merchants Bank, Bridgeton. Government Stock Bank, Ann Harbor, Mich. Cuyahoga Falls Branch Bank, O. Licking Branch Bank, Ohio. Phoenix Bank, Chicago, Illinois. Du Page county Bank, Illinois. Bank of Ottawa, Illinois. State Stock Bank, Peru, Indiana. Stock Bank, Lafayette, Ind. Bank of Elkhart, Plymouth Bank, Fayette county Bank, Delaware county Bank, Logansport Insurance Company, Indiana. Indiana Stock Bank, Laport. Savings Bank, Cincinnati. Scituate Bank, Rhode Island. Wollborough Bank, New Hampshire. Bennington Bank, Vermont. Monsum River Bank, Maine. Bank of Ellsworth. Bank of Milford, Delaware.
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Some mathematician has calculated that the war costs the Allies $300 a minute. # BROKEN AND SUSPENDED BANKS. PRESENT VALUE. Canal Bank, Cleveland, Ohio, 95 cents City Bank of Columbus Ohio, 95 cents Bank of Circleville Ohio, 65 cents Merchants' Bank, of Bridgeton, N. J. 80 cents Wheat Growers' Bank, Newtown, N. J. 80 cents Government Stock Bank, at Ann Arbour, Mich-igan, 40 cents Bank of Washtenaw, Michigan, 25 cents Erie & Kalamazoo R. R. Bank, Michigan, 25 cents Farmers & Mechanics' Bank of Kent County Maryland 65 cents Newport Safety Fund Bank, Kentucky, — cents Stark Bank, Vernont, 50 cents Cochituate Bank, Boston, Mass. 25 cents Eighth Avenue Bank, New York City, 93 cents Lewis County Bank, Martinsburgh, N. Y. 10 cents Union Bank, Chicago, Illinois, 75 cents City Bank, Chicago, Illinois, 75 cents Mechanics' and Farmers' Bank, Springfield, Illinois, 75 cents Farmers' Bank, Chicago, Illinois, 75 cents Ship Builders' Bank, Maine, — cents Trans-Alleghany Bank, Virginia, 90 cents Bank of Milford, Delaware, — cents Exchange Bank of Selden, Withers & Co. Washington, 50 cents
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Five years ago, there were in Ohio just bout as many Banks as there are to-day- Money was easily obtained at six per cent., being all that legitimate banks are permitted to receive. Every body thought well of the Ohio Bank Law no one feared to receive their paper, and all went along prosperously. At about that time, or during 1853 and 1854 a different system was inaugurated. True, the stockholders in the banks at that time realized a dividend of from sixteen to twenty per cent. on their capital, but this did not satisfy a portion of them. To increase their per cent., some banks established broker's offices, or shaving shops, and would receive deposits as usual, but never had money to loan. To get that, the borrower must go to the broker's office an! pay one and a half, two, and even as high as three per cent. per month compound interest. Such was the power of those brokers that they either compelled others to join in their mode of operations, or forced them to suspen! business by getting up a "run" on them. It was currently reported at the time, that the suspension of the City Bank of Columbus was caused in this manner. It needs no argument at this day to prove that such a course of policy, however mich it may have benefitted the few engaged in banking, proved disastrous to the general business of the state. For two years business men have deposited their mory with bankers without receiving a cent insompen-sation, and have paid for every acommodation at least one and a half per cent. a month. As a consequence, many honoraole and good business men have been literaly shaved to death, while no one but the shaver prospered. This has been the general ril. Numerous instances con be cited where entire towns have apparerly fallen victims to this modern species of svindling, and are to-day ten years inferior owhat they were five years ago. No banker calculate on making less than thirty per cent. on th/capital under his control, and every manat all acquainted with the profits atten lay upon all healthful business, must know hat no such rates can be paid and the su iness continued; and no man of prudene, unless possessed of a large amount of coital, will engage in a business which nay require him to ask an ac-commodatin at such rates, Now tre is a remedy for this blighting evil, an that remedy is in the hands of the Legislature. That body has it within their powero establish rates of usage and enforce their nactment, by such penalties as will insar observance of the law. We know it will objected that such restriction would drive opital from the State. It may be true: ut it is better to have no capital than to have it only upon such rates as must rain the man who has it; better do no business than to be in a constant whirlpool of ruin. We are in favor of Banks. They are a convenience not well dispensed with, but there should be restrictions thrown about such combinations of capital to protect the people against its tyrannic power. The interests of business men and of all dependant upon business, require this. Ex-Governor Slade has recently taken another bevy of female teachers into Illinois, Indiana, Missouri, and Iowa. # LAND OFFICES OPEN The acting Commissioner of the General Land Office, in answer to recent inquries, gave under date of the 31 inst, the following list of Land Offices open in the Northwest: Fort Dodge, lowa. Chatfield, Min. T. Osage " Minneapolis " Sioux City, " Winona, " Mineral Point, Wis. Red Wing, " Menosha, " Chillicothe, Ohio. Stevens Point. Indianapolis, Ind. Stillwater. Min. T. Springfield, III. Sauk Rapids," " Benton, Banks, Cassius M Clay, Buecher, and others, are lecturing in different parts of the country. Subjects of a political nature a generally treated upon. Irving's Life of Washington is not allowed to circulate in Sout Carolina! Hayes, the murderer of Buffura, has been again discharged. The Maumee was drained to the bottom yesterday by the strong wind down