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The Financial Storm. The financial troubles, which broke out a few weeks ago in Wall street, New York, are spreading like the cholera. Men in a city go to bed imagining everything sound and healthy, and wake up in the morning to find the whole populace in terror with the pestilence at their doors. After carefully looking over the newspaper reports and telegraph despatches for the last week, we present the following general view of the progress of the epidemic. New York and New England.--The fever which broke out in Wall street having spent its rage, and nearly all the New York City Bankshaving survived the assault, confidence was rapidly gaining ground, and a meeting of the Bank Presidents on the 29th determined to extend their line of discounts to the amount of three millions during the week, which would greatly relieve the business community. The new outbreak in Philadelphia and in the South may neutralize all the good anticipated from this step. In Boston a resolution adopted to extend discounts to a like extent. The Banks of Providence, R. I., have suspended, but the Hartford and New England Banks generally, (such as have not gone under,) continue to pay specie. Comparatively few of the New York country Banks have yet gone under, and in general the New York and New England banks expect to weather the storm. Philadelphia, Pennsylvania, and South.While confidence in New York and New England was thus returning, however, the epidemic broke out with renewed violence in Philadelphia and all over Pennsylvania, creating a new consternation and alarm. The trouble in Philadelphia commenced with the Bank of Pennsylvania which suspended about the 25th. Other Banks soon followed in the same direction, until all had either entirely suspended or redeemed only tives. Since Tuesday the despatches run in this wise: PHILADELPHIA, Sept. 28.-There is still no concert of action among the banks. They commenced paying five dollar bills, but at 11 o'clock the North American Bank, which previously redeemed all notes, suspended specie payments, and the same course will now become universal. The Philadelphia Bank suspended specie payments, but redeemed checks with notes of other banks following this course. PHILADELPHIA, Sept. Bank affairs are now settling on the low specie basis, and the banks are preparing to issue small notes. The Pennsylvania Bank notes are to be re ceived at the other banks to-morrow. and PHILADELPHIA, Sept. 29.-The City Southward banks are paying specie their small notes notwithstanding their agreement of yesterday. They are receiving the notes of other banks on deposit excepting the Pennsylvania. PHILADELPHIA, Sept. 30.-The Banks are still pursuing an unharmonizing course, causing trouble and vexation to the business men. The Pennsylvania Bank refuses, for the present, to come into arrangement with the banks, fearing that her largest depositors will remove their balances to other banks, creating a large indebtedness to them, which could not at once be settled without diffi culty. Arrangements are making to place her on a firm basis. The other banks are at variance, refusing to receive the certified checks of each other. There is confusion in all the arrangements of parties having notes due while the banks are locked up. The people feel outraged at the want of a system and the necessity for a clearing house is be coming daily more imperative. From Philadelphia the pestilence has spread over Pennsy Ivania, and half the coun try banks probably have by this time suspended, and in Pittsburg all the banks ex cept the Pittsburg and Allegheny Bank have suspended. In view of this condition of af fairs, the Governor has issued a proclamation, convening an extra session of the Pennsylvania legislature. From Pennsylvania, the epidemic natural ly extended to New Jersey, and the suspen sion (failure) of the Burlington, Cumberland and Salem (N. J.) Banks is announced. Southward next the fever spread. The Baltimore and Washington City banks have suspended. At Richmond and Norfolk the banks continued firm, but some of the N C. country banks have succumbed. A hea vy run on the Wheeling banks has also probably forced them to suspend. No new suspensionsare announced by Cincinnati banks, or any Ohio country banks. The Nashville Tenn., Bank has suspended, but other Nash ville Banks refused to follow. In St. Louis Bogy, Mellenberger & Co. Aderson & Co., and Darby & Barksdale, sus pended, but the rest of the St. Louis banks and bankers stand firm. The Republican says: The Banks, whether public or private, are as a general thing in a situation, which ena bles them to meet promptly every reasona ble demand which can be made upon them this is not a vain boast, as every intelligent well-informed man well knows, and ought t make his more ignorant and less informe neighbor clearly to understand. All the Nebraska banks, except the Bank of Florence, are announced as having failed While the East and South were thus in trouble, we in the Northwest, however, ha continued to felicitate ourselves on the sound ness of our banks and a maintenance of per fect confidence. It is true, a Bank in Gale na and the Elgin Bank had suspended, but their bills were SO well secured that nobody refused to take them. Rumors were also afloat of the suspension of the Aurora Bank whichare contradicted. The People's Bank Milwaukee, the Badger State Bank, Janes ville, and one or two other one horse Wis consin banks had suspended. But nobody had dreamed of serious trouble in the West until the startling announcement a day 0 two ago from Chicago of the suspension o E.I. Tinkham & Co., and of R. K. Swift Brother & Johnson. These suspensions, al though smoothed over and much explaine away by the Chicago papers, have spread general distrust if not dismay, and the com munity hereabouts is full of the gloomies forebodings. It is needless to give the
