7598. Citizens Bank (New Orleans, LA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 13, 1841
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
8e8fd848

Response Measures

Full suspension

Other: In October 1842 an injunction was obtained against Citizens' Bank preventing further issue of notes; reported that its functions as a banking institution would cease.

Description

The Citizens' Bank had resumed specie in Dec 1841 (article 3). In May 1842 a run began (May 30/31) leading the Citizens' Bank to suspend specie payments (announced May 31/June 1) until the 5th of December. Subsequent reporting (summer–autumn 1842) shows the bank remained suspended, was enjoined from issuing notes and its banking functions effectively ceased (Oct 1842); thus the suspension appears to have ended in permanent closure/repudiation. Cause of run is loss of confidence stemming from disagreement among New Orleans banks and other banks' actions (classified here as local_banks).

Events (4)
1. December 13, 1841 Other
Newspaper Excerpt
The Citizens' Bank of New Orleans resumed specie payments on the 13th inst.
Source
newspapers
2. May 31, 1842 Run
Cause
Local Banks
Cause Details
Disagreement among New Orleans banks over resumption; Citizens' refusal or hesitation to join resumption undermined confidence and triggered withdrawals after other banks resumed.
Measures
None prior to suspension besides paying out specie until overwhelmed; later announced suspension until Dec 5.
Newspaper Excerpt
There was a run made on the Citizens' Bank yesterday. About 12 o'clock the crowd increased, and commenced drawing specie...
Source
newspapers
3. May 31, 1842 Suspension
Cause
Local Banks
Cause Details
Heavy withdrawals and loss of confidence caused by disagreement among banks about resumption; runs on multiple local banks forced suspension.
Newspaper Excerpt
the Cashiers of the Citizens' and State Banks have announced that they have suspended until the 5th of December next.
Source
newspapers
4. October 2, 1842 Other
Newspaper Excerpt
An injunction has been obtained by the Attorney General against the Citizen's Bank to prevent its issuing any more notes. Its functions as a banking institution will now cease...
Source
newspapers

Newspaper Articles (19)
1. December 20, 1841 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, December 20, 1841

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RESUMPTION IN NEW ORLEANS. The New Orleans Morning Advertiser, of the 9th instant, has an encouraging article on this subject; not only encouraging, but a little threatening, too, towards the conclusion. It commences with saying that "To-day we understand the subject of immediate resumption will be brought up at the Board of Directors of the Commercial Bank, and it is confidently believed that the decision will be to follow t e example of the Bank of Louisiana at once. We know that there are members of the Board favorable to the policy of resumption without delay. They see that every hour it is put off, the danger increases. Whether their advice will be taken, is another thing. If it is, the community will rally around the Bank, and hail with joy her return to the good old path of honesty," The Citizens' Bank is spoken of as "getting ready to come out of the valley of darkness;" the State Bank and Consolidated Association as likely to follow, and the Union Bank as not likely to lag behind. But what, he asks, will become of the other banks? And bids them follow their leaders ; and, if they cannot, tells them to go the way of all flesh; thinking it better they should die now than a year hence, to carry with them the now solvent institutions. The Gas Bank, a editor says, did not vio. late the amnesty of 1838, and is still a specie paying bank, and that the Merchants' Bank has escaped the disgrace of suspension at this late day. This bank had sent money to Mississippi in exchange for cotton, and much of it having been returned upon her, the Directors resolved not to emit the half million they recently contemplated. This is stated however qualifiedly, and not certainly. The editor congratulates the public for having gained by the discussion of these Bank matters two important points-the resumption of specie payments by the Bank of Louisiana, and the abandonment of the proposed issue of broken

2. December 21, 1841 New-York Tribune New York, NY
Article from New-York Tribune, December 21, 1841

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The pressure in the money market continues. Treasury notes, 6 per cent., ¼ per cent. discount. Good short paper in the street 1 a 1½ per cent. per month. The New-Orleans Advertiser states that the subject of resumption was before the Board of Directors of the Commercial Bank on the 9th inst. and it was confidently believed that she would follow the example of the Bank of Louisiana. This Bank has about $1,100,000 Circulation and Deposites and $315,000 Specie and Bank notes. If like the Bank of Louisiana she only resumes on her circulation, she will have the above amount of assets to meet $629,000 of notes. The Advertiser also states that it is believed that the Citizens,’ the Union, the State Bank and the Consolidated Association are preparing to speedily resume. It was understood that the message of the Governor would take high ground on the immediate resumption of all the Banks, and that those that were unable should go into liquidation. A motion in the Virginia Legislature to release the Banks from the penalty of 12 per cent on every note they shall fail to redeem after the 1st January next, was lost by a majority of five votes, as was another requiring of the Banks a rapid curtailment of discounts. The Buffalo Commercial Advertiser of the 14th instant states that an effort will be made to resuscitate the Commercial Bank of that City. The argument on the injunction which was to have been heard on the 7th, was postponed until the 21st, and in the mean time strong efforts will be made to sustain the Bank. Although a large part of its capital is locked up in Real Estate, yet it is some of the most valuable in Buffalo, and is worth more in cash than it cost the Bank. Counterfeit Threes on the Bank of Brunswick, Maine, are in circulation at Buffalo. The Baltimore City Council have under consideration a proposition to issue $500,000 of City Bonds at six per cent. to be used in the purchase of Railroad orders. The Comptroller we understand has made a requisition on the Banks for one half of one per cent. on their capital for Safety Fund purposes, payable on the 1st January. He will therefore soon be in funds to redeem the liabilities of the suspended Safety Fund Banks. Holders of such notes should not submit to a sacrifice. ### New-York Markets. ASHES. Sales 50 bbls: Pots at 5 87½; 40 do Pearls at 5 50, at which holders are firm. COTTON. The sales to-day have been 600 or 700 bales without change in price. The stock has been reduced by shipments, and the market has a tendency to be more firm. FLOUR. Very little doing. Shippers offer 6 00 for Western Canal which is refused. 6 12½ is demanded. We could not hear of sales for export. Southern without change and dull; Georgetown 6 37½ Brandywine 6 50, Richmond City Mills at 7 50. GRAIN. The only sales reported were 2000 bushels Rye at 75c in the slip, time and interest, and 2600 bushels Ohio Corn at 65c. weight, delivered. Oats have improved in consequence of the closing of the Hudson. We quote 48 a 50. Barley is firm at 74c. No sales Wheat. ### New-York Cattle Market. [Reported for the Tribune.] At market 875 head of Beef Cattle, including 200 left over last week, 250 of which was from the South, and the balance from this State; 40 Milch Cows and 1100 Sheep and Lambs. There was a better demand for the best qualities of Beef, but common and inferior qualities were the same as last week. Sales of 775 head at $4½ to $7¼, averaging $5½ the 100 lb. MILCH COWS. Sales of 30 at $25 to $40 each. SHEEP AND LAMBS were all taken—Sheep at $1 50 to $5. Lambs at $1 to $3 each. HAY. Sales by the load at $1 to $1 12½ the 109 lb. ### ST. LOUIS MARKET. Dec. 7. Business on the Levee is quite brisk, and boats are arriving and departing daily. The Mississippi is free from ice as high up as Keokuk; but is falling. Navigation is, however, not interrupted. Boats for the South, with Western produce, are leaving every day with full freights. FLOUR is held at $5 50, which may be quoted as the ruling rate.

3. December 30, 1841 Martinsburg Gazette Martinsburg, WV
Article from Martinsburg Gazette, December 30, 1841

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The Citizens' Bank of New Orleans resumed specie payments on the 13th inst. The Advertiser of the 14th notices a rumor that three other Banks of that city would follow the example on that dav.

4. May 25, 1842 Daily Richmond Whig Richmond, VA
Article from Daily Richmond Whig, May 25, 1842

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, From the N. O. Bee, May 17. : THE CRISIS-THE FIRST DAY. I Yesterday morning. at nine o'c'ock. The Union, City, Louisiana, Carroliton, Commercial, Me I chanics' and Traders' and Canal Bank, opened their , doors under full resumption. The Consolidated , Bank, very unaccountably, withdrew from the arI rangement entered into on the Saturday before, by which it also had agreed to resume, and refused to throw open its vaults, alledging, as a reason for r such conduct, that the Citizens' and Louisiana State Banks had refused to undertake cash ments, would no. the and of that it, therefore, At paymeeting the Bank Presidents, of Saturday, at which resumption was agreed upon, the Citizens' , Bank was not represented, and the President of the ) State Bank refused to sanction the measure, as the Directors had not empowere.i him to decide, either , for or against resumption. The subsequent determination of those Banks, therefore, could scarcely ) be appealed to to justify the course of the Consoli) dated Bank Upon the opening of the Banks, a considerable run was made upon them by the holders of small sums. The excitement was increased materially by the refusal of the Consolidated, Citizens' and State Banks to join in cash payments, and until half past two o'clock. the calls for specie, at the Union, City, and Canal Bank, were constant. At the Mechanics' and Traders', Carrollton and Commercial there was some stir early in the morning; but it was not kept up for more than forty minutes; after which time the demand for coin abated, and to the expiration of banking hours few notes were presented for specie. The Union and City Banks were crowded with note holders until a later period; but before 3 0'clock, the demand for specie upon those institutions slackened off to such an extent, that there was not a man in either of them desirous of obtaining cash for his notes, unsatisfied. So far from any attempt being made to evade the full force and effect of resumption, the payir g tell. ers in the resuming banks were doubled and trebled, in order to detain note holders as little as possible. The banks "stood up to their fodder" like "Georgia majors," and made every exertion to pay out as fast as the notes were produced. The exact amount of coin taken from the vaults, we could not ascertain; but we were happy to remark a feeling of confidence gradually taking possession we noticed several of the under public mind, and persons, who, the previous excitement, had drawn specie, returning it to the banks, being perfectly satisfied to exchange it for the same notes they had so shortly before hurried over their counters for the coin. Had the Consolidated, State and Citizens' bank joined in the measure, there had been nothing left for us to regret; as it is, the resuming banks will, in our opinion, weather the crisis in fine style. The notes of the non resuming Banks are at a discount of course; and will continue to depreciate until they likewise resume. We have been furnished with the following statement of the specie drawn from the various Banks yesterday. The City Bank paid out $80,000 and received on deposite $15,000-loss $65,000. The Union Bank paid out about $50,000-Canal $25,000, Commercial $30,000, Carrotton about 2,000, Mechanics & Traders a trifling amount, and the Bank of Louisiana paid out $3,000 and received upon deposit $14.000-making in all a diminution of about $175,000 in the specie of the resuming banks. P. The Presidents of the resuming Banks have had a consultation, and are determined to go ahead. The best spirit prevailed amongst them, and they are convinced of their ability to sustain cash payments.

5. May 26, 1842 The Madisonian Washington, DC
Article from The Madisonian, May 26, 1842

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count. Sight exchange on New York par to 1 per cent. premium. HURRA FOR A SOUND CURRENCY Yesterday' sun rose brighter than usual, and looked down upon the broad lands of Louisiana with that the hearts of all good and men were observed to move upon the with lightsome step and smile gladdened heads erect. will dull citizens, be earth reYesterday was a memorable day. It ferred to hereafter as the epoch of honesty" Se- returned to Louisiana after a five years' absence. ven out of the ten surviving banks made a grand effort Reand paid their obligations in the legal money of the public. It was a remarkable day, too, for the signal of piece the of treachery to sacred promises on the part institutions State ank Consolidated Banks. These solemnly agreed on Saturday last to pay coin yester- and day, but the directors reconsidered that promise, refused to " come up to the rack." Nothing daunted by the desertion of these the two George Stanleys, on the morning of the battle City, Commercial, Union, Mechanics', Carrollton, Canal, Banks Louisiana marched out in solid column, and opened their vaults to their creditors. Had the three Banks down town, now known Citi- by significant title of the "State of Consolidated done their duty to the public, would have passed off as an zens," the specie payments resumption ordinary of But it proved otherwise, not in conseof any doubt on the part of the in consequence of a scheme to foot the State of Consolidated notes, occurrence. on quence but by institutions Citizens, said holders which be to set an of the notes of the resulming the of to go up and draw the of replenishing the vaults of the purpose army paid out Faithfuls said cash, in "State, for such &c. The appearance of these gentlemen the numbers alarmed, temporarily, the unwary, and crowd in the Union, City, and Canal Banks increased wind of one o'clock, when people having got and for the up "movement" of the "State, &c.,' fell off, two hours thereafter great indignation was expressed The the bystanders and the citizens generally. by main point of attack was upon the City Bank, "State whose President is regarded with e=pecial horror by of Consolidated Citizens." T he common talk among those citizens was, "Ah, ah, we have got the Bank damne will Yankee; on the hip at last. The Citizens' follow hell to-day, the Consolidated will close give and on the third day the with a "sockdologer." This is 11 his career to-inorrow, Peters whole State affair, will evidently but the feeling at the bottom of this Seven has failed, and will fail most miserably. The ! The Banks will pay their debts, let come what may people are with them, heart and hand. At an early hour, the notes of the "State of and Con- in solidated Citizens' were offered in the streets Actual the brokers' offices, at all sorts of discounts. sales were made as follows: Citizen's Bank notes, 10 to 18 per cent. discount. 10 to 18 Consoididated " " 101015 State They are tending downwards, and at three o' 'clock yesterday they were regarded with great suspicion. Bank committed gross law in out Third yesterday, at her counters, in exchange for own The paying Citizens' Municipality Shinplasters violation Burslups, her of notes. This was the game played by the when they were driven to the wall. They say that the the Citizens' paid out $40,000 of this trash in course of the day, and it is now known by the name of Citizens' Bank currency. The State Bank did a large business. She paid her notes under five do.lara in coin. It was a disgrace and see so wealthy a concern palter in a double sense, treat the public so scurvily. The Consolidated threw herself upon her reserved rights, and refused to redeem her notes in anything. She considered them the as good as wheat, though the holders did not, as above Considerable table will quantities show. of specie, drawn out of the paying Banks, by the inhabiants of the region in coin of "les trois Banques," were deposited, it is said, those institutions, on special deposite. The notes of the "State of Consols. and Citizens," were repudiated by the seven specie-paying Banks, and refused in payment of debts. On a comparison of the best information out dorrs, it appears that some $150,000 in coin were paid and out by the seven Banks, but chiefly by the Union But City, at which a dead set seemed to be made. what are $150,000 to these institutions? They amount. can and will out if called on, ten times that They stand pay on the rock of truth and honesty, and not all the enemies of a sound currency in the world can overthrow them. The amount of coin received on depositi by the seven Banks, we learn, reached $100,000. In two days more, the deposits will exceed all that has been paid out. Public confidence is with the seven Banks, and in their march they will not leave a vestige of irredeemable paper behind them. The Courier of last evening (French side) asserts To " confidence is the basis of human affairs." that be sure it is, but Banking affairs must rest upon the basis before contidence in them can exist.No no argument will sustain the talk, of coin, against their debts Trois Banques" Banks which pay in coin. The Plaquemine Gazette gives the alarm against Consolidated notes. It says that that section of the State is flooded with this paper, and remarks that Bank an enormous flight of Exchange and Atchafalaya paper preceded the destruction of those institutions. seven Banks paid out coin yesterday with hin- the The alacrity and promptitude. No let or but drance utmost was made to bill-holders and depositors, the all were immediately accommodated. This is have Men or Banks who can pay their debts, nothing way. to fear, and the seven Banks are fortunately in this category. Immense quantities of sight Exchange were sold yesterday, on New York, at par to one per cent. premium. To people, abroad, we have but one word to have say, and we think we have a right to say it, for we this been alone in our advocacy for resumption in danand gave warning always, where there was city, Our word is Stand by the seven specie-payger. Banks of New Orleans. If you doubt them, try ing them, and they will dissipate all doubt, by paying you can what they owe you. They resolved to pay, they let come what may. If the three repudiated will pay, Banks, the C. C. S. do not c ome in, their notes Trade at 30 per cent. discount in a week's time. has be already felt the benign influences of resumption. The People breathe freer. Confidence has returned. People of New Orleans have sworn eternal enmity foster irredeemable paper currency, and they will and the to seven honest coin-paying Banks, and the law public opinion will prevent them from ever suspending again." Hurrah, then, for a sound currency ! From the Philadelphia Ledger. DANI

6. May 27, 1842 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, May 27, 1842

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From the New Orleans Advertiser. RESUMPTION TRIUMPHANT All opposition knocked down -Resignation of President Lavergne:-Public opinion stamps with approbation the seven resuming Banks! Yesterday, the glory of the day before was consummated. The city saw the sun of specie-payments shed its beneficent light over her vast extent, and confidence sprang up, like a new grown plant, in every man's bosom. The seven Banks did not lose over twenty thousand In the over thousand. of unwary dollars. Many aggregate, the they who received had drawn sixty coin the day previous, deposited their precious treasure in the vaults whence they had taken it in alarm, and hundreds of new accounts were opened by men, who, for months past, looked very properly with suspicion on all Banks which did not pay their debts. So completely has all opposition to resumption been knocked down, that they who presumed to offer any on Monday, were among the absentees from their usual haunts. When they were seen, here and there, flitting to and fro, the shout of laughter at their folly was sent after them by the rejoicing people. President Lavergne, of the Consolidated Bank, seeing that public opinion so triumphantly sustained him (for he went for resumption) and the resuming Banks, and reflecting that he occupied a false position, sent in his resignation to the Directors, yesterday. They refused, we learn, to accept it. He told them that he would not take it back, unless they agreed to resume at once. It was a sine qua non with him. What the Board decided in the matter we do not know, but this we know,-M L. acted in a most praiseworthy manner. It is rumored that the State and Consolidated intend to pay coin to-day. We do not see how they can do therwise. If they do not they will be guity of treachery to the State and the stockholders, and will inflict an injury upon the note holders that ought to be punished with the utmost severity of law, and met, far and near, with the most decided reprobation. As to the Citizens' Bank, a variety of reports are fl at about her. One is, that she has $800,000 in her vaults. If she has, she ought to be punished for not opening them and making her paper equal to coin. Another is, that the 12th section of the Bank Law is to be put in force against her for violating it, by paying out municipal shin-plasters. There is great curiosity to know how she came by that trash. The géneral impression seems to be that the State and Consolidated will be forced into resumption, and that the Citizens will persevere in her blundering course until a premature death overtakes her. Confidence in her ultimate ability to pay, S. beginning to be disturbed, and all too by her own foolish policy. She will, we hope, take the alarm, before it is too late, and return to the path of honesty. Taken all in all we have cause to rejoice. There is now no United States Bank to terrify State Banks, and drive them from their propriety, no "better currency" to buy for circulation, no Nicholas Biddle to look up to as a Neckar, but our leading men have be. come convinced, by the discussion of the subject, that suspension is a dire evil, is worse than a hundred wars, that no Bank has any right to refuse to pay its debts, that nothing is money but specie, and that paper is only useful when convertible at all times into coin, and hence the prompt return to cash payments, sought so eagerly by men of all pursuits, as the only means of escaping from utter ruin. A better state of feeling exists now than has existed in this city for ten years past. Suspension can never take place again. The people will never permit the Bank that shall dare it to stand, but it will be consigned over to the tender mercies of the laws.

7. May 28, 1842 The Madisonian Washington, DC
Article from The Madisonian, May 28, 1842

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From the New Orleans Advertiser. RESUMPTION TRIUMPHANT. All opposition knocked down Resignation of President Lavergne -Public opinion stamps with approbation the seven resuming Banks ! Yesterday, the glory of the day before was consummated. The city saw the sun of specie-payments shed its beneficent light over her vast extent, and confidence sprang up, like a new grown plant, in every man's bosom. The seven Banks did not lose over twenty thousand dollars. In the aggregate, they received over sixty thousand. Many of the unwary who had drawn coin the day previous, deposited their precious treasure in the vaults whence they had taken it in alarm, and hundreds of new accounts were opened by men, who, for months past, looked very properly with suspicion on all Banks which did not pay their debts. So completely has all opposition to resumption been knocked down, that they who presumed to offer any on Monday, were among the absentees from their usual haunts. When they were seen, here and there, flitting to and fro, the shout of laughter at their folly was sent after them by the rejoicing people. President Lavergne, of the Consolidated Bank, seeing that public opinion so triumphantly sustained him (for he went for resumption) and the resuming Banks, and reflecting that he occupied a false position, sent in his resignation to the Directors, yesterday. They refused, we learn, to accept it. He told them that he would not take it back, unless they agreed to resume at once. It was a sine qua non with him. What the Board decided in the matter we do not know, but this we know,-Mr. L. acted in a most praiseworthy manner. It is rumored that the State and Consolidated intend to pay coin to-day. We do not see how they can do otherwise. If they do not, they will be guity of treachery to the State and the tockholders, and will inflict an injury upon the note-holders that ought to be punished with the utmost severity of law, and met, far and near, with the most decided reprobation. As to the Citizens' Bank, a variety of reports are float about her. One is, that she has $800,000 in her vaults. If she has, she ought to be punished for not opening them and making her paper equal to coin. Another is, that the 12th section of the Bank Law is to be put in force against her for violating it, by paying out municipal shin-plasters. There is great curiosity to know how she came by that trash. The general impression seems to be that the State and Consolidated will be forced into resumption, and that the Citizens will persevere in her blundering course until a premature death overtakes her. Confidence in her ultimate ability to pay, is beginning to be disturbed, and all too by her own foolish policy. She will, we hope, take the alarm, before it is too late, and return to the path of honesty. Taken all in all we have cause to rejoice. There is now no United States Bank to terrify State Banks, and drive them from their propriety, no "better currency" to buy for circulation, no Nicholas Biddle to look up to as a Neckar, but our leading men have become convinced, by the discussion of the subject, that suspension is a dire evil, is worse than a hundred wars, that no Bank has any right to refuse to pay its is pais useful when at debts, per only that nothing money convertible but specie, cash all and times that into coin, and hence the prompt return to payments, sought so eagerly by men of all pursuits, as the only means of escaping from utter ruin. A better state of feeling exists now than has existed in this city for ten Suspension can never take place again. The will never years people past. permit the Bank that shall dare it to stand, but it will be consigned over to the tender mercies of the laws.

8. May 29, 1842 The New York Herald New York, NY
Article from The New York Herald, May 29, 1842

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# BY THE SOUTHERN MAIL. New Orleans, [Correspondence of the Herald.] J. G. BENNETT, Esq.- SIR-Our newspapers have, of course, already in-formed you of the resumption of specie payments by our ten remaining banks-the four "weak" sisters have gone to the devil, and their mortal remains having been quietly consigned to mother Earth several moons ago. The effect of the resumption it is even yet impossible to foretell, although I believe I can venture to say that there is a sincere disposition on the part of the people to sustain the banks, and to give them every chance for their lives; so that if there be any health they will live and thrive, and every thing will go well. The great curse of this city is the deep-seated jealousy, frequently amounting to ferocity, which displays itself on every occasion, social, financial or political, between the descendants of the Gaul and their Anglo Saxon innovators. Canal street which divides the upper and lower municipalities, is a perfect barrier to all sympathy and good feeling, and separates the second or American municipality from the Creoles of the first and third as effectually as the straits of Dover divide England and France. The ridiculous and absurd Bank bill passed at the last session of the Legislature was supposed to have originated amongst the "down town" financiers, and to have been passed into a law for the special benefit of some half dozen public functionaries, who were largely indebted to the "down town" banks, (The State, Citizens, and Consolidated,) and were extremely anxious to place their "liabilities" on the "dead weight" list. The resumption is the offspring of S. J. Peters, Esq. the talented and clear headed President of the City Bank, and the leading financier of the second municipality. It took the Frenchmen completely by surprise; and for a time they were utterly dismayed. The democratic Courier, which has for years been preaching up the blessings of a sound currency and the evils of suspension, suddenly bolted off on a new track, and commenced edifying the town with a series of learned essays on the evils of resumption! The reason of this you will understand, whrn I tell you that the down town banks on Monday morning, (or such of them as had agreed to resume,) got frightened at the prospect, or else fell in love with the jingle of the "better currency" as it was shovelled up from its long sleep in their vaults and actually backed out! Hinc illæ lachrymæ! But I am seriously rejoiced to be able to add that the wiley Frenchmen, seeing how kindly their rascally uptown neighbors bore the resumption, plucked up a spirit, and came boldly into the measure yesterday-so that New Orleans bank paper and coin are [is] now one and the same thing. Exchange on your city can be had in plenty for 1¼ a 1½; and the only serious evil at present, is the depreciation of our municipality shin plasters and dimes, which have heretofore constituted our small circulation. This is an unavoidable consequence, however, of a return to a healthy state of things, and will shortly rugulate itself. Our literary depot is again flourishing in all its glory and usefulness; and what with your sparkling and interesting Herald-which is snatched at as if it were gold-and the beautiful magazines from your city, and her "fair sister" on the Delaware, we hope to spend the summer very agreeably. Messrs. Kellogg and Morgan, the new proprietors of the depot, are gentlemen well known and highly respected here; and, (although I presume they don't ask it,) you can trust them with perfect safety. Absquatulation is, as usual, very prevalent "about these days"-although the can't-go-aways are monstrous numerous. The spring has been charming, and no apprehensions of the epidemic are entertained. I see a foolish report in some of the northern papers that Fanny Elssler has been here, and that the "Hungarian Brothers" were murdered in Cuba. All flam. "La Deesse" has not favored us with the flutter of her ambrosial petticoats, and the "Hungarian Brothers" were squalling and growling at the American, a few evenings ago. The town were delighted this morning by the news of the arrival of Kendall from Mexico. He came in the U. S. Cutter Woodbury, and was accompanied by all the other American prisoners, and Mr. ex-minister Ellis. I see that all chance of a disturbance with Santa Ana is over for the present. Yours respectfully, PUCK.

9. June 10, 1842 Holly Springs Gazette Holly Springs, MS
Article from Holly Springs Gazette, June 10, 1842

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NE 10, 1842. VOLUME 1---NUMBER 46. From the Kennebeck Journal. THE Banks.-On Sunday morning we announced the PASS ROUND unanimous opinion of the Banks, with one solitary exception, to resume specie payments yesterday, and even that bank had The true Whig, published at Washington, reminds its not given a direct negative to the question of recumption-she readers and the public that in the two years previous to Gen. was merely not represented at the meeting, at which it was Jackson's war on our currency system, the number of tanks agreed ou. We hailed the announcement as le commencecreated was 22, with a capital of $8,000,0000: that in the ment of a new and a better era; we thought it would be the next two years the number of banks created was 268, with signal for the restoration of confidence--the prelude to the $368,000,000; that the former banks were generally sound, the that improveme of business-the harbinger of Leaer trade and and the latter have generally better times. Bu: what was our astonishmen: to find, yesterLoco Focos are now breaking down the very currency they day morning, that of the nine banks which had resolved to regave us, bad as it is, and are fast reducing us to the condition sume the payment of specie, two of them, the Consolidated of no currency at all. Bank and the Louisiana State Bank, withdrew from their reAnd pass it round, we add, that by the reports of the Secresolve, and in common with the Citizens Bank refused to pay tary of the Treasury, it appears that the bank bills in circuspecie on the opening of their doors yesterday morning. lation in the whole Union. in 1816, amounts to This circumstance, and the reports so industriously circu$68,000,000. lated by interested individuals, of the solvent condition of this This was before the charter of the second U. S. Bank, and institution and the bankrupt condition of that, created quite a when we had been without a National Bank for four years. panic among our community, and every one, from the holder The charter of that Bank wasthen granted, with a capital of of a V to him who had thousands placed to his credit in certain of the banks, seemed eager to convert it into the precious thirty five millions of dollars. Did expension follow? Oh metal. The consequence of this feeling was, tha: the seven no-very far from it. Fourteen years afterwards, or in banks that commenced the good work of resumption, had 1830, the whole amount of bank paper in circulation, from what is called in technical phrase, a run on them all day. all the banks, was They withstood it nobly. All hands were called to attend $61,323 898, to the desires of claimants; indeed, the wish seemed to be with being a decrease in fourteen years, while the U. S. Bank was them, not how little, but how much they could reekon and in operation, of nearly seven millions. pay out. As sheer justice to them, we will here give their Well, what next? The President vetoed a bill to re-charter names. They are-The Bank of Louisiana, The Union the Bank in 1832, and then what followed! In 1837, the Bank, The Canal Bank, The Mechanics and Traders Bank, bank paper in circulation had increased to The Carrolton Bank, The City Bank, The Commercial $149,185,890. Bank -N. O. Picayune of 24th May, 1842.

10. June 13, 1842 The New York Herald New York, NY
Article from The New York Herald, June 13, 1842

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BY THE SOUTHERN MAIL. OCT The Southern Mail had not arrived at the time of our going to press. LATEST FROM NEW ORLEANS-PROGRESS OF THE REVULSION.-Our accounts last evening came down to the 4th inst. The confusion, paralysis, and com mercial fright, was beyond all precedent. The following are extracts:NEW ORLEANS, JUNE 1.-The specie paying banks sustained themselves well yesterday-indeed there was no run upon any but the Union, and that was a slight one. Our citizens seem to have become convinced that the banks that have held out thus far are sound, and no depositors were disposed to draw out specie further than their business wants required. The consequence was, that no run was made yesterday, and the five specie banks remained sound and undisturbed. Should these five institutions prove themselves able to maintain their specie paying stand, our city would be able to boast that pecie was the standard of some of her banks, even if the same banks had no promises to pay affoat? The Union Bank is now believed to be established in her specie-paying position. For the honor of our city it is hoped that she and the other four banks will hold out the hard money flag-though we the people must suffer greatly from being driven to the use of a currency (the only one obtainable for daily use) greatly below par.-Bulletin. REMARKS ON THE MARKET FOR THE LAST THREE DAYS.-Once again is our currency thrown into chaos, and trade may be said to be almost completely paralysed in consequence. In our last Wednesday's report we noticed the suspension of specie payments by the Citizen's and Louisiana State Banks, but strong hopes were entertained that all the others would maintain their position. These hopes, however, have been disappointed. A panic seemed to have seized upon both billholders and depositors, and on Wednesday and Thursday four others, viz : the Consolidated, Canal, Commercial, and City, declared another suspension. The banks which still maintain their payments in specie are the Union, Mechanics and Traders, Bank of Louisiana and Carrollton. We have thus emphatically and literally a "mixed currency," and prices of merchandize partake so much of a similar variety that we find it almost impossible to arrive at correct quotations until matters become more settled. -N. O. Price Current. GEORGIA GOLD MINES.-The Milledgeville Journal states that persons who follow the pursuit of digging for gold in that vicinity, have of late been much stimulated in their labor in consequence of the handsome profits they have in many instances realized. It is said that in the neighborhood of Dahlonga, there are from fifteen hundred to two thousand pennyweights found daily. At one mine, on Battle Branch, there was lately found one lump worth, it is said, one hundred and twenty-eight dollars. It is supposed, from present prospects, that there will be at least from $300,000 to $400,000 realized in that section from the pursuit within the present year. The late success in this business is drawing the attention of many others to it.

11. June 13, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 13, 1842

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Iaised Bills are will We quote disc. Apalachicola 11 a Philadelphia Mobile 25 a 251 Baltimore par a 24 a 27 251 a 2. Montgomery Virginia Tuscaloosa 2/a 3 25) a 26 N Carolina - a New.Orleaus 1:a 1. Charleston 12 a 13 Nashville 12 a 2 Savannah Lonisville 2) a 21 13 a 2 Augusta 9 2 10 St. Lou 20 a 221 Columbus 20 Cinclunati 3) a 4 Macon There is some inquiry for Treasury Notes for investment, at par and t premi. A dividend of five per cent. will be paid by the Auburn and Rochester Railroad on the 1st proximo. We understand that arrangements have been made to redeem the notes of the broken James Bank on and after the 15th instant at par. The Etna fire Insurance Company have declared a div. idend of eight per cent. The attempt to resume specie payments in New-Orleaus has virtually exploded. In consequence of the hesitation of the Citizens', State and Consolidated Banks to resume on the day the other Banks resumed, confidence was impaired. and a run was kept up. The consequence was the suspension of the Consolidated. State and Citizens'. followed by the City, Commercial and Canal Banks, until 5th December next, the day fixed by the law. The Banks which pay spe. cie are the Mechanics and Traders', Carrolton, Union and Bank of Louisiana. On the Union there had been a runThe City Bank lost $160,000 Specie in one day. Therewas a most intense panic prevailing, and such were the crowds in the banking rooms that several persons fainted, and two were reported to have died. The following was the state of three of the banks on Saturday, May 28: Circulation. Specie. $294,245 $112,554 Citizens' Bank 419,390 170,025 Consolidated Bank 387,645 227,527 State Bank $1,101,280 $510,106 There are due to the three Banks, payable within 90 days, nearly a million dollars: $144,729.57 Citizens' Bank 136,355 24 Connsolidated 325,029 95 Louisiana State Bank $906,114.76 The above six banks suspended on the 30th of May and 1st of June. The v-Orleans Bulletin of the 3d instant

12. June 16, 1842 Lynchburg Virginian Lynchburg, VA
Article from Lynchburg Virginian, June 16, 1842

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NEW ORLEANS BANK SUSPENSIONS. There has been a panic created in New Orleans, in consequence of some disagreement in matters of policy among the Banks of that city, and a heavy run was made upon them. followed by the suspension of specie payments on the part of several of the Banks. On the 31st May, the Citizens' Bank and the Louisi ana State Bank announced their intention to suspend specie payments until the 5th of December next. On the 1st instant the Commercial Bank, the Canal Bank and the Consolidated Association Bank also sus pended. The suspension of the City Bank was announced on the 2d instant. The New Orleans Bulletin of the 2d instant, speaking of the suspension of the City Bank, says-"This fact, we feel warranted in saying, settles the question of specie payments in New Orleans for the present. No Bank in the city, that issues notes will redeem them in specie before autumn at least." The Picayune of the 3d instant says "The present specie paying banks are the Mechanics' and Traders," the Carrollton, the Union, and the Bank of Louisiana. All these banks, except the Union, have but a nominal existence. They are neither issuing their own notes, nor discounting those of others; so that their position is a matter of little consequence to the public.Their liabilities are but small, and they are known to have means to meet them: there is, therefore, no anxiety-no excitement regarding them. It was not so yesterday with the Union Bank. There was a brisk run on her in the morning, but she promptly aswered all demands with silver.--Thiscreated confidence in her behalf, and long before the time for closing her doors the "run" declined to a very easy "walk," her counter in the meantime being filled with specie." It is said that two persons had died from injuries received in the crowd at one of the Banks. The New Orleans Courier of the 1st says "More than six hundred thousand dollars, !in specie, it is said. will have been exported from New Orleans during the fortnight ending Jane 4." The following are extracts from letters. New Orleans, May 31. "There was a run made on the Citizens' Bank yesterday. About 12 o'clock the crowd increased and commenced drawing specie from the State Bank and the Consolidated Bank. This morning the Cashiers of the Citizens' and State Banks have announced that they have suspended until the 5th December next. the time given by the Legislature. It is said that the Citizens' Bank has $500,000 in sterling exchange, which she has not been able to sell. No person appears to know what caused the run on the Banks. The Consolidated Bank has not suspended." "June 1. "The Consolidated Bank has suspended specie payments. The holders of her notes having lost confidence, owing to the suspension of the Citizens' and State Bank, made a run on her yesterday. The crowd was great, and the day being very warm. several persons fainted. and were carried cut of the Bank apparently lifeless.The run continued from 9 until 2 o'clock, and amounted almost to an impossibility to reach the paying teller's counter. Men were seen coming cutas wet from pers.

13. June 16, 1842 Martinsburg Gazette Martinsburg, WV
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From the National Intelligencer. THE NEW ORLEANS BANKS AGAIN SUSPENDED. We received last evening, three or four mails together from New Orleans. On the 30th of May a run upon the Banks for specie appears to have begun, and lasted for several days, which has obliged the New Orleans Banks generally again to suspend specie payments. The following extracts of letters taken from the Charleston Courier, give a more condensed and intelligible account of the matter than the newspapers: NEW ORLEANS, May 31. There was a run made on the Citizens' Bank yesterday. About 12 o'clock the crowd increased, and commenced drawing specie from the State Bank and the Consolidated Bank. This morning, the Cashiers of the Citizens' and State Banks have announced that they have suspended until the 5th of December next, the time given by the Legislature. It is said, that the Citizens' Bank has $500, 000 in sterling exchange, which she has not been able to sell. No person appears to know what caused the run on the banks. The Consolidated Bank has not suspended." JUNE 1. The Consolidated Bank has suspend. ed specie payments. The holders of her notes having lost confidence, owing to the suspension of the Citizens' and State Banks, made a run on her yesterday.The crowd was great, and the day being very warm, several persons fainted, and were carried out of the bank apparently lifeless. The run continued from nine until three o'clock, and it amounted almost to an impossibility to reach the paying teller's counter. Men were seen coming out as wet from perspiration as if they had been taking a bath with their clothes on. The Consolidated Bank is a solvent one, but the directors do not understand how to manage it well." "JUNE 2. The Canal and Commercial Banks did not resume yesterday. The run on the City Bank was very great yesterday. At 12 o'clock she had paid out $70,000, and up to 3 o'clock, the amount drawn (as reported) was $160,000. They will all doubtless suspend before the week is out." From the New Orleans Bulletin, June 3. We repeat, that suspension of specie payments by the Banks of New Orleans, is real-and any pretension to the contrary is illusory. " No Bank that issues notes can pay them in specie. From the Baltimore American, June 14. LOUISIANA BANKS. The excitement in New Orleans has subsided, and the run on the Banks was over on the 4th inst. The Union Bank continued to pay specie for all demands upon it.

14. June 18, 1842 Richmond Palladium Richmond, IN
Article from Richmond Palladium, June 18, 1842

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Suspension of Specie Payments in N. Orleans We learn from the N, O. Picayone of the 31st ult., that in consequence of the paper of the Cit. izens' bank of that city being refused by the oth er banks, and distrust in others thereby revived, that a severe run was made on the Citizens', Con solidated and Louisiana banks, in consequence of which the Citizens' Bank, together with the Lou isiana State Banks all suspended the payment of specie on their notes until December next. The same paper of the 3₫ inst. says:-The present specie-paying banks are the Machanics' and Traders', the Carrolton, the Union, and the Bank of Louisiana. All these banks, except the Union have but a nominal existence. They are neither issuing their own notes, nor discounting those of others; so that their position is a matter of little consequence to the public. Their liabilities are but little, and they are known to have means to meet them; there is, therefore, no anx: iety - no excitement regarding them. 1: was not so yesterday with the Union Bank. There was a brisk run on her in the morning, butsite prompt ly answered all demands with silver. This created confidence in their behalf, and long before the time for closing her doors the "run" declined to a very easy walk, her counter in the meantime being filled with specie.-Balt. Clipper.

15. June 23, 1842 The Charlotte Journal Charlotte, NC
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The Banks of New Orleans have all suspended again. It has been but a short time since they resumed. The run commenced on the 30th of May and lasted for several days-no cause is assigned for this run on the Banks. The citizens' Bank has suspended until the 5th of December next, the time given by the Legislature. The other Banks no doubt will adopt the same course.

16. August 26, 1842 The Yazoo Whig and Political Register Yazoo City, MS
Article from The Yazoo Whig and Political Register, August 26, 1842

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Bank Note Table, Corrected Weekly, NEW-ORLEANS MONEY MARKET. Adapted for Yasoo City Market. Gas Light and Banking Company, par. Bank of Louisiana, par. SUSPENDED BANKS. 25 dis. City Bank of New Orleans, 8 Mechanics and Traders', " Union Bank, 12 " 18 State Bank, " 30 Canal Bank, " 20 Commercial Bank, " Consolidated Bank 35 u 25 Carrollton Bank, " 45 Citizens' Bank, REPUDIATED BANKS, Exchange Bank, 25 c per dol. 30 c dob Improvement do. 25 c Bank of Orleans, 15 c do. Atchafalaya, Blue Backs, 60 to 55 pr d. MUNICIPALITY NOTES. Municipality No. 1, 8 pr ct. dis. " 8 No. 2, sb No. 3 50 40 Alabama, n 8 Tennessee, South Carolina, par. Kentucky, par.

17. September 5, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, September 5, 1842

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MONEY MARKET. Sales at the Stock Exchange, Sapt. 3. 19 b60d 25 Del. & Hud $30d 843 100 Farmers' Loan 75 do $30d 85 s30 39 100 Mohawk R 50 do cash 86 -40d 382 25 do 58 cas 51 25 Mechanics Bank 100 L. Island $60d 16 75 60 Bk of State NY 50 Stonington R 60 50 do 161 90 Mechanics' BKg Asso. 85 60 15 Amer Ex Bk 50 Firemen's Ins. Co 611 50 Manhattan Gas cash 19 45 Farmers' Loan 10 183 do SECOND BOARD. 15 19 150 Harlem 60 Farmers' Loan 143 100 do 50 Harlem 14 b3d 15 15 50 da 50 do Commercial and Money Managers. SATURDAY P, M. The transactions at the Stock Board were not to any great extent, but generally at advanced rates. The advices per Caledonia were considered favorable and calculated to prcduce this effect. Del. and Hudson improved + per cent, Mechanics Bank 1, Mechanics Banking Association a further advance of 2 per cent, Farmers' Loan 1, Stonington 1, Harlem 1. State Stecks were firm. City 7's sold at 102, and after the board considerable amounts of both State and City 7's sold at 2 per cent arem. For Ohio 6's 1869, 74 offered: Kentucky 5's 60 offered; State 6's 1862,91 offered; 5's 1858, 33 offered; Arkansas 20 offered Alabama 50 offered ; Michigan 18 offere Pennsylvania 20 offered. 182 241 $1,000 Illinois 63, 1870 $12,000 N.Y 51, 1861 78 21 $5,000 Indiana cs $5,000 K'ky Sixes, 560d 19 $5,000 III 6s, 1879 No change in Foreign or Inland bills- and very little doing. We learn from a private letter from London, that Mr. Robinson our financial agent, who went out to negotiate the 12 million loan, had left London for Antwerp on his way to Amsterdam. English capitalists would have nothing to say to him, and no better prospect existed for the negotiation on the continent. The amount of Treasury Notes outstanding on the 1st inst. was $8,771,999,99, being about $132,000 less than last month. At a meeting of the Directors of the Merchants' Ex. change Bank, James Van Nostrand, Esq., was this morning o elected President, vice Peter Stagg, deceased. Some surprise having been felt at a discrepancy between the dates and numbers of the Banks of the State of Kentucky, that is that bonds of 2 certain date should be numbered higher than bonds of a later date, the Secretary of Kentucky has published a statement He explains that some bonds regularly numbered but not dated, were deposited in the Northern Bank: one of there bonds were paid cut and dated at the time of payment by the Cashier. This has created the discrepancy. From 2 communication in the Albany Argus the Safety Fund appears to be in better condition than was anticipated. Twenty-two banks have availed themselves of the law allowing them to pay in six years contributions in one sum. in broken bank notes at par. They have paid in $200,060 and other large banks are preparing to do the same. It also appears that the Fund will get material lief from amounts to be repaid by the Commercial Bank, ($181,781) the Lafayette, Clinton, Watervliet, Lewis County, Commercial Bank, Oswego, &c. Holders of sespended bank notes, it is supposed, may look for a much earlier redemption than was supposed six months ago. All the banks of Lancaster, including that of the Columbia Bridge, resumed payment of specie for all their notes and deposites, on the first instant, agreeably to their previous arrangements. The approach of resumption in Virginia, (15th inst.) has reduced the rates of discount between Baltimore and Richmond, to 1 percent on drafts and 11 on bank notes. Wheeling notes 41 a 5. At Wheeling exchange OR the East was S per cent prem. At Charleston there was very little doing in exchange, and sight checks OR New-York were very scarce. 60 day bills were selling at cent discount. A mutual Insurance Company is being formed at Charleston. Specie continues to flow to New-Orleans from all quar ters. In addition to $200,000 to $800,000 from New-York, Vera Cruz, Cincinnati, Sc. $16,000 have been received from Martinique. The suit of the State of Louisiana against the Commermercial, Canal, Citizens' and Consolidated Banks for a forfeiture of their charters came on on the 26th ult. before the District Court. The counsel of the two first banks produced evidence to show that they had placed themselves within the limits of the Bank Law, by having in their vaults an amount of specie equal to one-third of their cir culation. The suitagainst them was consequently dropped. The case of the Citizens' Bank will be argued on the 2d September, and that of the Consolidated Bank on the Monday following. The rates of suspended bank notes at New-Orleans were in some few instances getting better. Exchange was scarce and rates tending upward. Sterling 4 prem. Francs 5,50; sight New-York, par to 3 per cent discount; 50 days 2 a 21 discount. American gold plenty and dull. Treasury Notes scarce, selling at 1/4 1 discount. The Canal Bank received $70,000 in specie on the 26th. The Consolidated Bank has also obtained specie enough to arrest the operation of the law.

18. October 13, 1842 The New York Herald New York, NY
Article from The New York Herald, October 13, 1842

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New Orleans. (Correspondence of the Heraid.] NEW ORLEANS, Sept. 30, 1842. Texas-Morals-News-Bankers-Cotton-SilverTheatricals,&c DEAR BENNETT:Yours is the most extraordinary paper in the universe. It knows and publishes every thing in advance of all other papers. We think we get Texas news first, but we had hardly finished reading our cracked paper, the Bulletin," last Tuesday, when your spirit came over us, and announces the invasion of the Mexicans, twelve days in advance! although we say we had just received it the night before. If this is not necromancy or witchcraft, I don't know what is; and take care you are not burnt for it yet. San Antonio, with her lawyers and judges, is certainly taken, and no joke. But Houston is out with his troops, and will make another San Jacinto affair of the Mexicans. So prepare to announce a victory. This is .a great city for newspapers. We are about to have another called the " Tropic," with the flag of Harry of the West flying at the masthead. The financiers have hitched their boat to her, and abandoned the poor Bulletin." Alas, for the shade of Yorke! (now in France); it is a pity that he is not here to join the ranks of those who once wielded the destinies of the Merchants', Exchange and Atchafalaya Banks. He certainly has shown more delicacy of feeling than the rest, who are determined to brew beat the community and trample the laws under their feet. It IS said that Yorke will shortly land somewhere on Staten Island, and 80 look out, Mr. High Constable, catch him and bring him here, and the Governor will give you $500, and all expenses paid. Look out, too,for other absquatulators about leaving these parts sure, for the goodly city of Gotham to take passage for la belle France. The President and Cashier of the notorious Atchafalaya Bank have lately been sued for nearly three hundred thousand dollars excess of issues, and will shortly, no doubt, be making tracks. This beats old Nick himself. I have always told you that this was the city for financiering with a vengeance. Morality is at an end here, unless Parson Clapp can bring it back. We are going to advertise for a dozengood preachers with strong lungs, to preach here this winter, as the place needs it. Roguery and rascality appears now to be the order of the day, but if we could only get a little morality and religion shoved in edgeways, I think the city would yet be saved. As she now stands, I don't think ten righteous men could be found in it. I want to leave this winter, if I can raise the wind, for I am sure it is a doomed city. Some of our banks are in a little better condition, but not much. Few will be able to open their vaults on the 5th December, and those few will not dare to do much business, for fear of a run for specie. Capitalists from the North, if they will only bring the silver dollars here this winter, will do a strong business. But I would' advise financiers to come out, unless they want a coat of tar and feathers. The cotton that has been sent to the city is of an but I am afraid the heavy rains are to do a excellent going quality, great deal of mischief. For this article the demand is yet very limited, and there is now a fine field for speculators. Goods and strangers are arriving every day by the ship load. We shortly expect a French operatic company. Caldwell leases the American, and, with Celeste, he expects to do a profitable business. He deserves it. If he will only let politics alone, and stick to theatricals, he will yet make another fortune. We shall have a host of stars here this winter. Yellow fever is now dead, and we are going to bury him to-morrow. Strangers call now come with impunity into the city. The Citizens' Bank is, (and one or two others it is said will be,) enjoined not to issue any more notes. What is going to come next I can't tell, but as soon as I hear I will let you know.

19. October 13, 1842 The New York Herald New York, NY
Article from The New York Herald, October 13, 1842

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NEW ORLEANS, Oct. 2, 1842. Course of Trade-Markets-Texas-Theatres-Religion-Taxes. During the week just ended we have had fine weather, and some little more activity in business. The receipts of produce have been heavy for so earby a period in the season. The Ohio is high and in fact so are most all the tributaries of the Mississippi, so much rain having failen lately. This circumstance with the large crops and general disposition to realize from them, have caused those early and heavy receipts. 7000 bales of cotton have been sold,chiefly for Europe; but the market closed in an exceedingly depressed and languid state, and at a decline of 1c. Iquote ordinary at 5 to 6c; middling 6a7; fair Sc. Sales of near 9000 bbls. Flour have been made chiefly for Mexico and West Indies at $3,25; though some choice lots to Bakers have brought $3j. For two years past the Missouri and Illinois wheat has been very fine, and St. Louis brands had the our season preference ti brands have in regained market, the but preference, this Cincinna- the Ohio wheat being very superior. But a moderate business has been done in Provisions, and that principally in Lard, of which 3000 kegs have been sold at 5 to 6gc. Northern goods have experienced a little better demand, without however any change in prices. $110,000 have arrived from Mexico. Specie would bear shipment now from New York, as exchange has declined considerably. London 3 per cent. prem; New York, 60 days, 4 a 5 per cent. dis; Sight, 2 a 3 per cent. do., and will probably go lower as soon as any heavy purchases of Cotton are made. The want of a dem nd for exchange operates materially against Cotton. Ships are arriving in greater numbers than for time past, many of them disabled by the late are across some gales. Our citizens returning from from the North and the Lake, and strangers arriving West daily. The fever has almost entirely disappeared and soon we shall resume our wanted activity and bustle. You will remember that two weeks since Judge Cooley of the City Court gave a decision against the constitutionality of our municipal wharfage tax.An appeal was taken to the Parish Court and the question has been very ably argued by several of our most eminent counsellors for three or four days past, before Judge Maurian. The argument was concluded yesterday, and his honor will probably give his decision in the course of this week. An injunction has been obtained by the Attorney General against the Citizen's Bank to prevent its issuing any more of its notes. Its functions as a banking institution will now cease, though believe she cannot liquidate till her loans on property mature, which have yet some 30 or 40 years to run. Our banks are required, by law, to resume payment on 5th December next, but it is not expected that more than four or five will do it, among which I hear named the Bank of Louisiana, the City and the Mechanics & Traders, as most likely to come up to the mark. These three have generally managed with ability and prudence, and my own opinion is favorable to a resumption. Our beloved Parson Clapp has returned and now preaches with his usual eloquence to his attached congregation. The American theatre is fast approaching completion, and has been, I am told, leased by Mr. Caldwell. No news from Texas since that received per "Merchant," five or six days ago, which I sent you. The M. leaves again for Galveston to-day. She steamer " Alabama" resumes her regular trips between this and Havana on 8th inst. LOUISIANA.