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by Bank Suspensions. The monetary crisis reached itsacme last oes week, and our Bank, following the lead of those e of Philadelphia, suspended specie payment on e Friday last. The Banks of Philadelphia, e Washington, Baltimore, Richmond, &c., SUNpending on Thursday, it remained for the ad. 16 jacent country Banks to follow suit or do worse. A run was made on a number of the Banks, and had they not taken this course they would have been deprived of the means of relieving the necessities of the mercantile community at a time when in the greatest need. p Our monetary institutiona will now be enS abled to extend increased facilities to the business community, and thereby avert not only S individual failures; but a general and destructive derangement of the commercial and finan cial affairs of the whole country. The nature of the present crisis is radically different from that of 1857, or, indeed, from that of any other that has preceded it. The real cause of trouble now is a simple want of confidence, occasioned by the threatening political circumstances of the nation, whereas every previous financial convulsion was produced mainly by over-trading, wild speculations in stocks and lands, a draining of the country of the precious metals, a disturded and discredited currency, and a positive rottenness end crumbling to pieces of banks, corporations, industrial establishments e and commercial firms. There is no such reaS son for the distress we are now experiencing. te Money is really abundant, the banks are sound, C our erops have yielded a plentiful supply of all a the materials of substance, and the staples of manufacturing industry, we have a sufficiency ne of gold and silver for all the necessities of buG siness, and we can see no good ground whatC ever in the monetary and economical conditions of the community, to warrant the consternation that has suddenly seized all minds to and paralyzed, or greatly cramped the move. th nents of trade and production. But it must be la confessed that the uncertainty, in which our political fortunes are involved, and the dread ed if disastrous developments in the next few cot months, have had the effect of a financial panof c, while every element which usually goes to Ec lake it up, is wanting, except only suspension f confidence.
