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100 THE DOGIN capaurea, and are LOW safety in custody THE COMMERCIAL CRISIS. TELEGRAPHIC DESPATCHES. MENTING OF TaB MISSOURI LEGISLATURE MESSAGE OF THE GOVERNOR-THE CREDIT OF THE STATE TO BE SUSTAINED-REFORMS IN THE RAILROAD AND PANKING SYSTEMS. Sr. LOUIS, Oct. 21,1857. The Senate organized yesterday by electing Benjamta F. Heaser, Secretary. Governor Jackson's message, in referring to the deterioration of the State credit and the check given to its rattroad system by the monetary crisis, recommends the Legislature to take decisive measures to seowe beyond all question the honor and credit of the State He desires such an amendment to the railroad system as will enable the companies to secure their work done, and to ultimately complete their roads. He also proposes to place such ditional guards upon the banking system as will confine is withia its legitimate limits and tend to expel depreciated paper from the State In order to accomplish this, the Governor advises that no more State bonds be issued; that tax be levied to cover the whole amount of the interest on the bonds of the State, and that the State have representation in the different Boards of Directors in proportion to the amount of bonds issued to the roads: the bonds of the State to be in future disposed of by an agent appointed by Executive, and the proceeds to be delivered to the officers of the companies: that the Board of Pablic Works be empowered to penetrate into the details of the manage ment of the roads: that one of the banks of St. Louis be made a Clearing House, and that whenever any bank failed to redeem He circuia tion at the Clearing House, the Bank Commissioner shall close 14 in accordance with existing law. The Governor contends that legislation is regard to bank suspension can only result in producing greater difficulties than those it is intended to alleviate, and believes that whenever a pri vate banker OF broker suspends his assets should be placed in the hands of trustees for equitable distribution amongst his crediors. The amount of State bends due from the railway compa nice was, on the 18th of October. $9,000,000. Governor Stewart will probably be inaugurated to day MONEY MATTEMS AT ST. LOUIS. Sr. A large meeting of merchants was held at Exchange yesterday, and resolved to receive the notes of all the solvent banks of the country at par Several private banking institutions are receving the currency of the en tire country in deposits FINANCIAL MATTERS IN NEW ORLEANS. New ORLEANS, Ox. 20, 1887. The day has been a gloomy one financially, nothing do ing in exchange. Many of our masufno.uring establishments are discharging workmen. STOPPAGE OF THE MOBILE SAVINGS BANK. w ARHINGTON, Oct. 21, 1857 The Mobile Savings Bank closed its doors on the 16th instant. FINANCIAL AFFAIRS AT BORTON. Oct. 21,1867. BOSTON, The money market to very quiet, and the banks do most of the business. Two per sent month is the making price in the street, but with good collateral reduction is made Rumers of the failure of Little, Brown & Co. have ob tained currency, but without the slightest foundation, as the business of this old and respected publish ing house is prosperous. RUN ON THE BANKS OF BT.JOHN,N.B. Boston, ON 21, 1867. A SL John, N.B. correspondent of the Boston Journal writes banks here have had a large run upen them by some of your people. Is one day $16,000 im gold was taken from one. We have had no failures lately, and our people weather the nobly, showing an amoun of solidity that did was here." Newspaper accounts say that the merchants of as John have memerialised the banks to suspend, and that it was probable they would do to in self defence. CORRECTION. PHILADELPHIA, Oct. 21,1857. The reported failure of Mesers. Wheelan & O2., of Male city, is incorrect PHILADELPHIA STOCK BOARD. PHILADELPHIA, 1,1857 Blooks are heavy to sequence of the discouraging ef feel Penn State 8's, 81% Read A further decline had taken place since the adjournment of the Board EUROPEAN MANUFACTURERS AND THEIR CORRESPONDENTS IN NEW YORK. TO THE EDITOR OF THE HERALD. in your article on the money market, dated Oct. 16, you remark that All our old debta to foreign - have been with sponge, and 11 will not be antil sew balances against a as the future trade of the two oous tries,are Granted that the resumption or speale exports expected statement. is alamy asses much starts among the sumerous readars of your European edition on so count of its wide-spread circulation, an only in Great Britain but also the Continent of Europe, where the New York HERALD is almost the only American paper kept in all the respectable roading rooms, as well as by privale amberribers The prophetic warnings or the Impending crash, which during the last swolve months have repeatedly appeared in columns, and are new being fearfully falfilled to very letter of your predictions, have caused your Ba ropean readers regard journal as an infailable se thority. Therefore above referred to likely to produce a serious than you are probably ewere With alleying the fears which may originate therefrom, beg leave to submit the following statements to your consideration agree with yes that present revension may general delay of remittannes from here to Earope, has caused and continues to produce numerous extensions of the time for payment this country Ant is will be only . delay, and not . repudiation of payment, which may result from the present oriein to European creditors for importations of while part of funds those foreign capitaliete. have infested their American railroad bonds and other like se the that admit certies, of and Karapeas all of their claims claims may realised extent sponging of bankers our of Browing merchandise. least at held are con against and three-quarters Earonnan trelled who residing here, by are friends side their other of close ties more than nature credit and debtors is Most re generally European 00 tablishments this are country based partly held of their liabilities with satisfied at this Interest of and partly of mer. growing country, which instances payable realised In both urged, limitations payments are not wants, because granted credits based are considence and likely dis-arbed long as that is shakes. confidence there between Koreover the light which this country pecuniary failure or While con trust h and in Earope every day natural. over sidered berea early same and FOOD forgotten, is regarded in Europe as a criminal act and death blow man's commercial tence, from which he never recover feeling exte here most the to by entertained be of Unnes Europrane