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THE MONEY PANIC. We regret that our limited space will not allow us to give the particulars of the recent bank suspensions, which have created a great panie throughout the country. Since the refusal of the Philadelphia banks to pay specie on Saturday last, each day has witnessed a large number of suspensions in other cities and smaller towns in the interior. The Baltimore banks all suspended in the course of the same day, and were followed by two of those in Washingtonthe Bank of Washington and the Patriotic-the Bank of Metropolis holding out throughout Saturday, and paying out over sixty-seven thousand dollars.It, however, also suspended on Monday. There does not appear to be the slightest doubt of the entire soundness of the banks of Washington and Baltimore, or of their ability to meet their liabilities when the crisis shall have passed. They are still redeeming their $5 issues, that being their lowest denomination. Indeed, their suspension was a necessary consequence from the action of the northern institutions, and was resorted to as a e precautionary mcasure to prevent the drain of specie to other points. They S also evince every disposition to be as accommodating as possible to the holders of bills and to depositors. Although these suspensions must, of e necessity, create great stringency in c r monetary affairs and stagnation in busiy ness, there will still be enough currency r for the ordinary wants of society, and the bills of the banks will pass as usual, subject, it may be, to a discount representative of the difference between the e bank paper and specie. The Intellid gencer of Wednesday notes the best Virginia paper as at 5 per cent. discount and adds that dealing in distant money d has come to a stand. The known ultimate safety and solvency of the Baltie more and Washington banks-in which our people are chiefly interested-will, h we hope, result in an entire restoration of confidence in a short time. There is, we apprehend, little reason why much c uneasiness should be felt, or the panic y continued in these cities; for they are e both free from the heavy failures which have brought on the crisis at the North, and, in a commercial light, they can of perhaps present as healthy symptoms of e d general soundness as any other places n whatever. of The New York banks still hold out, and a confidence appears to be felt that W they will weather the storm, as well as is those of New Orleans. The whole hope of time commercial community appears, d indeed, to rest upon the former city.e We observe, in this connexion, that the n is Courier of that city, states its belief that New York cannot only sustain itself but 11 render important aid to other cities, and d holds the opinion that in thirty days there will be a greater accumulation of t gold there than ever before known in e history.
