19129. Penn Township Bank (Philadelphia, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 16, 1842
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
dad42935

Response Measures

Full suspension

Other: Bank earlier gave security of $200,000 to other banks; later exhausted immediate means and suspended.

Description

Contemporary newspapers report a run beginning about March 16, 1842, the bank exhausting immediate means and suspending by March 24, and being listed among closed/suspended Philadelphia banks by March 26. Cause tied to the wider Pennsylvania banking crisis/resumption panic. No evidence in these articles that the bank later reopened; therefore classified as suspension followed by permanent closure.

Events (3)
1. March 16, 1842 Run
Cause
Macro News
Cause Details
Part of the broader Pennsylvania banking panic and controversy over resumption of specie payments; generalized excitability and runs on multiple Philadelphia banks.
Measures
Held out; issues were taken by other banks that would accept any notes; attempted to pay notes in other banks' notes.
Newspaper Excerpt
There was a slight run yesterday on the Penn Township Bank, which was kept up today with considerable addition.
Source
newspapers
2. March 24, 1842 Suspension
Cause
Macro News
Cause Details
Exhaustion of specie and heavy withdrawals during the citywide banking panic/resumption crisis led to suspension of operations when immediate means were exhausted mid-day March 24, 1842.
Newspaper Excerpt
Yesterday after twelve o'clock, a run was made on the Penn Township Bank, and by three o'clock her immediate means at command were exhausted.
Source
newspapers
3. March 26, 1842 Other
Newspaper Excerpt
The Penn Township Bank ... occupy their banking houses in this city, but their business is suspended, and their capital may be considered out of market. ... Penn Township Bank, Sixth & Vine ... capital 1,400,000
Source
newspapers

Newspaper Articles (10)
1. February 2, 1842 New-York Tribune New York, NY
Article from New-York Tribune, February 2, 1842

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The steamer having left, there is but little inquiry for For eign Exchange. The rate for Sterling is 8 a St for first rate bills 7 a 73 for Southern: Francs, 5 30 a 5 281. Domestic Exchanges are rater dull. Alacama and New. Orleans have an appearance of improving. We quote: Philadelphia 7a7t; Baltimore 3) a 31; Virginia 9} a 10; Charles ton 12; Savannah 2) a 3; Mobile 14 a 14); New-Orleans 71; Cincinnati 13 a 14. Money is decidedly easier, and A No. 1 paper has been negotiated to-day at 7 per cent per annum. Dadley S. Gregory at Jersey City, E. D. B. Ogden of Paterson, and S. P. Britton of Elizabethtown have been appointed Receivers of the Morris Canal and Banking Compa. ny by Governor Pennington. The State Bank at Camden had a run upon it on Saturday, but was able to maintain herself. She deposited a large amonnt of valuable assets in one of the united banks in Phliadelphia, and yesterday the notes of the Bank were received in deposite in Philadelphia. In consequence of the excitable state of public opinion in Philadelphia, it is not difficult to get up a run on any bank. The Moyamensing and Penn Township Banks have been run upon to a considerable extent, but have, thus far, sustained themselves. A meeting of the directors of the several Philadelphia Banks was held yesterday, at which the Bank of Pennsylvania proposed to give security in bills payable and the additional sarety of an individual of known wealth, for the purpose of having the injunction raised and paying the interest on the State Debt. No decision was had on this proposal. Undoubtedly, after all the exertions made by the officers of the State in sustain its credit, to-day has passed away without the payment of the dividends, and Pennsylvania has thus been dishonored by the treachery of the Bank of Pennsylvania. The Bank, it is said, has used one half the amount provided for the payment of the interest, for its own purposes. Its capital was 2,500,000, of which 1,500,000 is owned by the State. Several of the banks refused to receive deposits on Monday. Pennsylvania Fives offered at 50, only 46 bid. Pennsylvania bank notes 20 to 25 per cent discount. Girard 30 per cent discount: United States Bank notes 45 a 50. Governor Porter had left Philadelphia for Harrisburg. The Chesapeake Bank of Baltimore had outlived the excitement, and confidence in its solvency had been restored. MARYLAND BANKS.-The Baltimore Patriot of Saturday evening has the following from Annapolis, under date of January 28: The committee of the Senate, to whom was referred the question of the currency together with the bill from the House in relation to resumption, will not report before the latter end of next week. They will report n new bill requiring our banks to resume on a day named. and in the meantime to resume if either Pennsylvania or Virginia resume before the day fixed for our banks. The day to be named for the resumption of our banks will give a liberal time for all interest concerned to prepare, and will be satisfactory to the discreet of all sides. OHIO BANKS-1842-A statement showing the proportion of specie on hand to the circulation of the banks of Ohio, as reported to the Committee on Banks and the Currency of the House of Representatives, during the present session of the

2. March 17, 1842 The New York Herald New York, NY
Article from The New York Herald, March 17, 1842

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Philadelphia. [Correspondence of the, Herald.] PHILADREPHIA, March 16, 1842. No Resumption yet- Meeting of the Banks-Run on the Penn Township Bank-Catholic and Protestant Fight-Biddle, Coroperthwaite and Anderson -Stocks. The Banks of this city had a meeting last night, at the Philadelphia Bank, the object of which was to endeavour to unte upon a simultaneous resumption by all the banks-the "Relief" Banks as well as thoee that are not "Relief" Banks-but as the delegates from several of these institutions professed not to have the requisite authority for action on the subject, and requested an adjournment till Thursday evening, their wishes were complied with, and the meeting adjourned accordingly. without coming to any conclusion, or indeed without entering upon ony business. All the non-accepting banks will certainly resame, and if there is any sincerity in the language of men connected with banks, the "Relief" Banks will unite with them in the honest undertaking The meeting, last night, was a full one, and in all the desultory conversation that ensued on the the question, the point of immediate resumption seemed to be conceded by all. There is considerable feeling manifested in all circles to day, not so much for the want of specie as from exasperation at the arrogant tone of the banks in setting themselves up above the law. There was a slight run yesterday on the Penn Township Bank, which was kept'up today with con. siderable addition. The bank, however, held out o the close, and so far as I could learn its issues were taken by such of the other banks as take any notes at all. Only two or three of the banks howver, receive deposites, and care much less than useal about receiving the payment of debts due hem. There was a great fight yesterday in Kensington b. tween the Catholics and Protestants, at the

3. March 21, 1842 Daily Richmond Whig Richmond, VA
Article from Daily Richmond Whig, March 21, 1842

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From the Philadelphia Inquirer, March 18. Another day of Excitement in Philadelphia. MORE BANK FAILURES. The excitement in relation to the Banks, which commenced a day or two ago, was continued yesterday. The Penn Township Bank was closed throughout the day, and with the exception of a few persons early in the morning, there was no crowd in the vicinity of the building. A run, however, was commenced, almost as soon 08 the Banks opened, upon the Manufacturers' and Mechanics' Bank, located at the corner of Vine and Third streets, upon the Mechanics' Bank, located in Third street below Market; and the Moyamensing Bank, at the corner of Chesnut and Second streets. The Mechanics' Bank made but a poor show, and closed its doors about 12 o'clock. The other two held out. however, and paid their notes in the notes of country banks, such as Lancaster, York, North. ampton, and Relief notes, until after the regular hour of closing, three o'clock. The run evidently abated towards the last, and both Banks manifested a disposition to exchange all the notes that should be presented. Of their ability and determination as to the future, we are unable to speak, but we trust that the worst has been experienced, and that from this time forward, we may look for a revival of confidence.

4. March 22, 1842 Richmond Enquirer Richmond, VA
Article from Richmond Enquirer, March 22, 1842

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e to close The Manufacturers' and Mechanics out against a terrific run. not open The Philadelphia d wnship somehow did The Gazette Penn of sterday afternoon stated semi-officially(sevenat will on Monday next do basis, issue their own paper, settle with in coln. Several have redeemed their notes with The Banks, least, each specie business other for Bankswirl unite." act true Ameeting this evening will decide if more of the From:N Philadelphia North American.) The public may rest assured that the banks to resume and maintain specie will not be another zards pared There suspension. payments will at the all be thic want payment for all claims against the en to they will be paid as the the last dollar required banks. If un. resumption law. The interest of the greatly promoted by not made upon the banks: for in ands however, being be unnecessary the public same de. portion as the public evince confidence in the to extend assistance and y will portion be able of relief banks, to the siness the city. This is much needed banks will most those of Philadelphia. The "The other example Pittsburg of of undoubtedly banks follow now. in parts the State, whether be compelled to do the same, or 1. will accepting become banks or The notes of all banks that do not cease to pass as currency, and will be sold at value, whatever it may be. dited. kers placed their the They resume to will dis. the on same footing as merchandise currencies of unequal value There cannot be a rket. culate ich will together. Two question can in never now, the be continued and which banished from cir. purious ation by the people. They will no longer tolerate currency We learn that a convention of banks that relief law has been called to meet at Lancaster, accepted for purpose of agreeing to rest upon their a determination will their will find public opinion far tial rant. law. than They Such law. prove rights more under death po. That will be against them. All the ks which do not now resume will be forced into li. ness. dation. They will not be able to exist and do any (From the Spirit of the Times, Saturday.) 'The following IS a list of the Banks of our city re lately. They all still king but are doing no business, and be down 'suspended houses. occupy may their that in the category as "essentially used up by it victims. They are the Bank, $35,000,000 1,000,000 Schuy!kill Bank, 5,000,000 Girard Bank, 2,300,000 Pennsylvania Bank, 500,000 Penn Township Bank, 1,400,000 Mechanics' Bank, 600,000 Manufacturers' and Mechanics Bank, 250,000 Moyamensing Bank, Total amount of capital, The total number of our banks therefore which $46,250,000 led within a few months, and four of them within have fee days is eight, and a combination of their capitals, kes the saug sum of FORTY-SIX MILLIONS TWO HUN ED AND FIFTY THOUSAND DOLLARS. The Tarif} -There can be no mistake about it. merican System Whigs go for Distribution, because The ev consider it as equivalent to an Tariff's is the cuckoo note Tariff IS the greatiro they have now Agitate the Tariff, is the advice of Mr. Ilan riff. anvil Whigs Tariff augmentation sounded of upon the by letter. which he has Whigs of Connecticut. essed Landthusa his Lithograph the Agitate privately the Trum- Ta. ad. the Whigs in the State The Washington also lets the cat out of the athandin April. describes Y American Correspondent of Election, bag.- which the consultation which the on inst., and their determination ( the the 14th Whig members to lay bill, and go on with the amendment, the rate of interest to the ie, de ual with and enlarging Mr Appropriation Fillmore's "extending present Loan the price of money and the actual credit of They are waking up to a the crisis and the : nal exigency Government. of sense the Na. of in then. Keep moving, and fire (all,aye, all) "is which untry in, , ill all in involves demands. accomplished responsibilities awayat the What is the use now of bills to priute will money which is not in the Treeasury, and ap. h not be there till loans have put it there : Tariff to meet the loan must follow A it may.' ies, we will resist resources of the Federal d timate sales, who Government, per until force.- the its are poured back into its be no increase of the duties until that is re then Treasury. done- Let not a cent put on, except what may be y necessary for the wants of a Government essen- most nomically administered. e At the commencement of the Richmond Medical held in the College building, on Monday, the Col. 7th March, red the degree of Doctor of Medicine was con. on the following gentlemen Hanover. AT 11. TYLER Richmond, ARTER JOHNSON HAPMAN J. 31. B. REID THE H. TYLER King William. Albemarle. C. MAURIN Nelson. IN HARDING Boxz Norfolk. M. PRITCHARD Richmond. HN CURRY Gloster. Chesterfield HALL R. WESTER Dinwiddie. HN 1. EDWARDS Essex. 1. FORANK Turm The 65. number of Students amounted at Kentucky. the late 7th day Commencement day was held on sesGraduates of March. The Diplomas were delivered Monday, to by President Maxwell of Hampden after which, an address was by the same, which was followed aduates tory College. from delivered by to Sid. the Professor Warner, and the day closed supper given to the Students at plendid change Hotel, night avale. at with the by the Faculty. ites The on N Y. Correspondent of the Philadelphia Gazette ich have the 16th, that "a part of the Treasury so shamefully dishonored by the been redeemed by Mr. Morris Mr. K at the urgent mment, cretary Wall street of have been request Ketchum of notes the go. es were the Treasury, accepted $100,000. These tured for negotiated by him, and are now coming in dit, he payment; but with a spirit that does him : and be feels Number: that his honor requires they should be

5. March 23, 1842 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, March 23, 1842

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works of >uch obscure and almost forgotten authors as Gold-mith, Washington Irving, Addison, &c.Howitt enjoys a very high reputation, and they place his works, where posterity will keep them by the side of those whom I have mentioned. His Rural Life of England'--his 'Seasons"the "Student Life of Germany," and last and best, his Visits to Remarkable Places"-which have just been published by Messrs. Carey and Hart, will all find numerous readers and warm admirers of course. The 'Visits" is, indeed, a truly interesting and delightful work, and every reader of English history should possess it. Mesars. Carey & Hart have also just published, in two handsome octavo volumes, Roscoe's Life of Lorenzo de Medici, of which I may speak more particularly in another letter, not having, as yet, had an opportunity of refreshing my recollection of the contents of these celebrated volumes. Messrs. Lea & Blanchard have just published a new and valuable number of their "American Journal of the Medical Sciences," a long established and popular periodical which the Physicians of the country should feel a pride in sustaining. Among its contributors are many of the most eminent American physicians and surgeons, whose writings have given to this journal a high reputation, both at home and abroad. Taking a huge stride from these matters to others, however, at this time especially, of scarce'y inferior interest, I would inform you that Judge Randall still continues indisposed, although now believed to be convalescent. His appointment to the place of the lamented Hopkinson has given very general satisfaction. He is an able and an upright man, and although not possessed of brilliant talents, is, without doubt, fully competent to the faithful discharge of all the duties of the responsible station to which the President has called him. Our community has been, for several days, in a state of high and painful excitement. The Penn Township, the Moyamensing, and the Mechanics' Banks, and the Manufacturers and Mechanics' Bank, have closed their doors within the last three days, and to-day there has been a steady run upon those Banks that commenced the payment of specie. Seven banks, including the United States Bank of Pennsylvania, have now closed their doors, and how many more will be forced into this position, it is quite useless to conjecture. This is a sad state of things, and all confidence is destroyed. SCRIBE. Youts, truly, [God knows we sympathize with the distresses of the People, and would sacrifice any thing to relieve them.-ED.]

6. March 24, 1842 Lynchburg Virginian Lynchburg, VA
Article from Lynchburg Virginian, March 24, 1842

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PHILADELPHIA BANKS Another Bank has suspended operations. Yesterday after twelve o'clock. a run was made on the Penn Town ship Bank, and by three o'clock her immediate means at command were exhausted. This Bank has for some days past furnished a large portion of the limited curreney now in circulation. It will be recollected that she gave security to the other Banks some few weeks since, to the extent of $200,000, which exceeds her present circulation. I Last evening a meeting of the Di. rectors was held, which resulted in the following notice:

7. March 26, 1842 Sunbury American and Shamokin Journal Sunbury, PA
Article from Sunbury American and Shamokin Journal, March 26, 1842

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Broken Banks in Philadelphia. The following list of Banks still occupy their banking houses in this city, but their business is suspended, and their capital may be considered out of market. We annex their locations with the capital of each institution : U. S. Bank, located in Chesnut street $35,000,000 above Fourth, capital Schuylkill Bank, corner Sixth and Market, 1,000,000 Girard Bank, Third below Chesnut, 5,000,000 Pennsylvania Bank, Second below Chesnut, 2,500,000 500,000 Penn Township Bank, Sixth & Viee, Mechanics' Bts, Third above Chesnut, 1,400,000 Manufacturers' and Mechanics' Bank, 600.000 Third and Vlne, 250,000 Moyamensing Bk, Second & Chesnut, $46,250,000 Total amount of capital,

8. March 26, 1842 Richmond Enquirer Richmond, VA
Article from Richmond Enquirer, March 26, 1842

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Money Matters in Boston.-The Boston Courier of Thursday afternoon says: The announcement of the failure of James Read & Co. to-day, for a large amount, has but added to the previous want of confidence in the money market. This is one of the largest failures that ever took place in Boston: the liabilities are variously estimated at from seven to eight hundred thousand dollars. The failure of Mr. S. S. Lewis, the agent for the Cunard steamers, for n large amount, was also announced to day; it is said that his name was on the paper of a firm that failed some days ago. Money is extremely scarce, and the banks themselves feel it as sensibly as individuals. The Banks in Philadelphin.-Matters went on smoothly on Saturday, with the banks. There was no run at. tempted on any of them. There were, as might have been expected, demands for specie, in small sums; but the receipts, it is believed, nearly or quite equaled the payments. This will, of course. continue to be the case, as nothing is received in deposite, or in the payment of notes, by these institutions, but specie or the notes of specie-paying banks. Our citizens have thus far be. haved with commendable forbearance, and it is hop. ed the monetary affairs of the community will gradual. ly resuine their wonted regularity.-Phill Sentinel. The Banks-The Times, &.C.-As far as the Banksare concerned, matters and things are going on now pretty easily. We said all along that a resumption of specie payments would set every thing right, and facts are fast proving the accuracy of our arguments. The excitement is dying away. Of the Banks of our city nine only are left, i. e., the Philadelphia, Commercial, North America, Farmers' and Mechanics', Southwark, Northern Liberties, Western, Kensingten, and Germantown. These redeem their paper in coin and per consequence, public confidence is being rapidly restored. Of course, however, business is tight. Thousands have lost considerably by the closed Banks, for the bro. kers take advantage of their necessities, and even the Relief Notes which should be at par, are bought at a discount of from 15 to 20 per cent. This is a serious loss, and will ruin many. Cannot some mode be adopted of lessening the evil? We hear it suggested that the Penn Township, Moyamensing, Mechanics and Manufacturers', and Mechanics' Bank, re-open their doors, and receive in payment of debts, each others notes. This would do. A great sacrifice would thus be avoided by the note-holders, and the Banks could daily make exchanges between themselves and withdraw their notes from circulation. Some arrangement should be made atonce, we think by these Banks to relieve an injured and suffering people.-Phila. Spirit of the Times. HUZZA FOR OLD SOUTHWARK.-Southwark has nobly redeemed herself! We rejoice at this demonstra. tion of probity on the part of her citizens, and hope we may never be compelled to record after any election in that district for the future, a result different from that of last Friday. The regularly nominated ticket succeeded by perhaps eight hundred majority. This is glorious! Mr. Grover too-with all his wealth, which he fondly imagined could accomplish anything-is no longer, we are delighted to perceive, a member of the Board. The arrogance of ignorant opulence will no longer rule that thriving district, and we may soon ex. pect to see the face of affairs there assume an expres. sion gratifying to every good citizen, and honorable to those whose exertions may occasion it. Huzza for De. mocratic Southwark:- Ib. Ohio Banks.-The Pittsburg Advocate of Thursday last, says: The twenty-two specie-paying banks of Ohio it is confidently believed will be able to sustain themselves. Some of the weakest have been heard from, and the account is that they were doing well; there being but little run upon them. Our own banks have not yet had official notice of the Resumption bill and it is not yet known what will be their course under it. One thing, however, is pretty certain, that is, that they will promptly comply with its provisions." DEATH OF A Mayor.-The Hon. Jacob F. Mintz. ing, Mayor of Charleston, died in that city on the 15th instant, of gout in the stomach.

9. March 29, 1842 Indiana State Sentinel Indianapolis, IN
Article from Indiana State Sentinel, March 29, 1842

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Currency Matters. BANK NOTE LIST.-We venture to-day to republish our list, corrected from the best sources. Excepting State Scrip, which we take at par if the whole is paid, we would advise our friends to take nothing but what appears in the list, and at the discounts named. OHIO.-By private information from Ohio, from a source entitled to weight, we learn that it is very doubtful if the Ohio banks which have resumed can sustain themselves for any length of time. The only correct and safe course for our people to pursue, will be to refuse to have any thing to do with Ohio paper. Indeed, they should take no depreciated paper whatever at par. or Illinois money is chasing State Bonds, which are running down to Par!!! says the Chicago Democrat. RESUMPTION IN PENNSYLVANIA.-I is stated in some of the papers that the Banks of Pennsylvania have not complied with the late law providing for immediate resumption. They are inviting the fate of some of the Cincinuati banks. LATER.-The Philadelphia Banks have resumed. BURST.-- The Mechanics', Moyamensing, and Manufacturers' Banks of Philadelphia : also, the Penn Township Bank, have bursted up! Go it, Bank Whiggery. VIRGINIA.-The subject of resumption of specie payments by the Virginia banks is now under consideration in the Legislature of that State. The recent prompt and decided proceedings in Pennsylvania and Maryland will no doubt hasten resumption in Virginia. In a debate in the House of delegates, it was stated by Mr. Holleman, that the officers of the banks in that State had borrowed $90,000 from them, and that the Directors had borrowed directly in their own names. independently of their endorsations, $570,000. Virginia has a population of 1,300,000 souls, and the bank capital is $10,283,633. Of this amount it appears that about 50 directors have borrowed 6 per cent. and as much more is loaned them indirectly, making $1,200,000 loaned to about 50 individuals. This is for the "relief of the dear people" who hold the irredeemable issues of these banks at a depreciation of 10 to 20 per cent. ALL THE DECENCY.-The N.O. Balletia advises the Louisiana Banks to treat the Resumption Law with contempt!! This is whig decency ! Let New Orleans look out for mobs, if the advice of the Bulletin is followed. COMMERCIAL BANK OF Nareme-Gone the way of all swindlers on a largeseale,-faird The New Orleans relight and Banking company offer a reward of 1000 dollars for the appreheasion of James B. Marks. lite cashier of the branch of that institution at Napoleonville. its is said to be a defaulter, but to what amount is not stated. The Grocers of Biltimore have adopted the plan of not receiving any of the Rail Road orders. which are in circulation there, except at the current rate of discount.

10. March 30, 1842 New-York Tribune New York, NY
Article from New-York Tribune, March 30, 1842

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us.The Philadelphians continue to draw specie from About $90,000 went on this afternoon. The supply of Treasury Notes continues light. Small amounts we quote at 1g a 13 discount; large do 2 a 21. The money market is light, and good paper sells at 1 all per month. Some of the Banks are discounting to a fair extent, but mostly they are pursuing a restrictive policy. Advices by the Columbia speak of the money market in England as being very easy. The Bank of England had put down the rate of discount to 4 per cent. She has received large supplies of bullion. We can see very little that is favorable in the accounts from the other side. In American stocks the only actual transactions were sales of $100,000 Pennsylvania Fives at 471 a 48, and a small amount at 50, and $100,000 Ohio Sixes, of 1250, at 60. We annex the quotations of the 3d, of the principal American securities:New-York Fives 75; Penasylvania Fives 47 a 50: Ohio Sixes 60; Indiana and Illinois Sterling Bonds 25; Louisiana Fives 60: Maryland Sterling Bonds 55; United States Bank 20th Bicknell's Reporter says-" The resumption of specie payments by our nine solventar business-doing banks sill continues, and as a consequence our money market is alarmingly contracted-the out-door rates on what is known as good paper' varying from 2 to 2) per cent. a month. The suspended banks continue closed for the ordinary purposes of trade, and their notes are selling at ruinous rates. We annex the rates at the close of the week: United States Bank notes 60 a 65; Girard notes 50 Pennsylvan ia do 22 a 25; 'Relief' notes 20 a 25; Mechanics' notes 15 a 25: Penn Township notes 25 a 30; Manufacturers' and Mechanics' notes 25 a 30; Mayomensing notes 18 a 25. Specie-paying banks; Philadelphia County-Philadelphia Bank, Commercial Bank, Bank of North America Farmers' and Mechanics" Bank of Northern Liberties, Western Bank, Kensington Bank. Germantown Bank, Southwark Bank. Pittsburg-Exchange Bank, Merchants' and Manufacturers' Bank, Pittsburg Bank. "York Bank, Bank of Middletown, Easton Bank, Deylostown Bank of Bucks county, Farmers' Bank of Reading, Franklin Bank of Washington, Northumberland Bank, Miners' Bank. Pottsville, Honesdale Bank, Bank of Montgomery county, Bank of Chester county, Delaware County Bank, and probably several others." The Presidents of the Backs in St. Louis, Mo., that are in a sound condition, and the Board of Currency, have had a meeting in that city, on the 18th, the result of which has been an arrangemently which all the strong Banks will go 51 harmoniously together, making weekly exchanges, each Bank issuing its OWB notes payable on the 5th December next. The New.Orleans Bulletin of the 19th says- The Banks have all accepted the 'Relief Law,' three of them, however, conditionally; but none of them are rising in opposition to the law. If we are not misinformed, they will on Monday all commence paying out their own notes at their counters. We anticipate an entire restoration of confidence in our currency, and, as a natural consequence, a fall in specie and exchange." Specie at New-Orleans on the 19th, 5a7 per cent. premium.