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ANOTHER SUBPENSION, ac. WASHINGTON, Sept. 15.-A sudden and heavy run has caused a partial su pension of the Georgetown Bank of Commerce to-day :but It redeemed its i-sues and paid most of the needy deposito rs. It is ref 0 ted that the Bank, with the assistance of the Bioc to ders, will re ume in as few days There has been & run 03 most of the priva'e bankers, but all dema di having been promptly met, the excitement had subsided before the closing hour.
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WASHINGTON, Tuesday, Sept. 15, 1857. The Hon. Thomas H. Benton continues to improve, and is now considered past danger. Judge Bowlin has resigned his office as Minister to Bogota. Second Assistant-Postmaster Dundas has gone to New-York on business connected with the facilitation of the California overland mail. The Secretary of the Treasury, on appeal, has reversed the decision of the Collector of New. York, who assessed a duty of 24 instead of 19 per centum on colored or plaid flannels. The fact of their being colored or printed does not change their character as known in the trade, nor remove them from the schedule in which flannels are provided for especially. The Secretary on appeal has also reversed the decision of the same Collector who imposed 24 instead of 19 per centum on checked flannols. That they are checked and a larger nap raised on them than ordinary, does not change their distinctive character of flannels. In another case the Secretary says: In estimating the foreign character of wool, with reference to its exemption from liability to duty, the appraisers can determine such value independently of the invoice, by prices current and other reliable means of information of the value of the article is foreign markets, such as they employ in ascertaining the foreign values of other staple articles of import. A sudden and heavy run caused the partial suspension to-day of the Georgetown Bank of Commerce: but it redeemed its issues and paid such of its depositors as were needy. It is supposed that the stockhold. ers will resume in a few days, as it is represented that they are able, and that they will protect the back. The run was also kept up on most of the private bankers, but all demands having been promptly met, the excitement subsided before the closing hour. We have New-Orleans papers of the 8th inst, containing late advices from Texas. Judge Hemphill and Gov. Pease were candidates for the United State Senate. The Houston Telegraph of the 4th inst. states that cotton-picking was actively progressing, and that more cotton would be raised this year in Texas than in any previous year. It also states that the sugar rop will not be over three quarters of the usual average. The Mobile Register states that $150,000 have been raised in Georgia for Walker to make a new desceat on Nicaragua.
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THE LATEST NEWS, RECEIVED BY MAGNETIC TELEGRAPH) FROM WASHINGTON. Special Dispatch to The N. Y. Tribune. WASHINGTON, Tuesday, Sept. 15, 1857. The Commissioners of the Land and Pateat Offices had a conference with the Secretary of the Interior to-day, at which it was decided to dismiss all clerks suspected of being tainted with Know. Nothingistn or Republicaniam. The heads of these unfortunates are to fall on the 30th inst. Three clerks were diemissed from the Treasury Department on Saturday: fifteen more are to die the death on the 30th inst. Four heads of bureaus perish on the same day. It is understood that Col. Forsyth is actively is regotiation with Messrs. Le Sere and Benjamin with reference to the Tehuantepec matter. The new contract, abrogating the Garay and Sloe grants, is said to be in point of fact a contingent sale of the Iethmus route to the United States Government. although the nominal purchaser is the Le Sere Company. There is a serious panie here, and there hero been severe runs to-day on all the private Bacha. The Bank of Commerce of Georgetown has our pended payment of deposits, but redeems its bills in circulation. The great sufferers by the failure of Pairo & Nourse are public officers with money in hand. The Secretary of the Treasury has made the following appointments and promotions: John E. Holland, second-class clerk ($1,400) in the Fourth Auditor's office, to be third-class clerk ($1,600) in place of Robert Ricketts of Virginia, removed. Joseph D. Anderson, first class clerk ($1,200) in Fourth Auditor's office, to be second-class clerk ($1,400), vice John E. Holland. promoted. Thomas K. Wallace, first-class clerk ($1,200) in Register's office, to be second class clerk $1, 400), vice J.S. Nevins, removed. Samuel Melvin of Virginia, to be & first-class clerk ($1,200) in the Fourth Auditor's office, vice J. D. Asderson, promoted. W. A. D. Carroll of Mississippi, to be a first-class clerk ($1,200) in Register's office, vice T. K. Wallace, promoted. The President has appointed Sherwood S. Morritt Postmaster at Norwich, N. Y., and Heary S. Potter Postmaster at Port Huron, Michigan.
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Interesting from Washington A NBW TEHUANTSPEC GEANT-FNaNCIaL TROUBLES AT TBE CAPITAL-PBOPOSITION TO SEND TAB NiaGARA TO ASSIST IN LAYING THE TELEGRAPH TO India. WASHINGTON, Sect 16, 1857. Private despatches were received here to-day, dated New Orleans, stailig that old Tebuan epec Transit grants have been cancelled by the Mexican government, and a new one made with a Louisiana company recently organized. Auother despatch was receive¹, confirming the above and giving a more full account. The grant was signed on the 4:b inst. by Fresident Comonfort. It is for sixty years, and gives them sufficient lands along the route for the use of the company. The failure of Paird & Nourse has caused quite a panic here. Some heartrending scene. occurred at their estab üshment to day. Men, women and children could be seen crying and taking on at a terrible rate. Clerks, employ és and laborers in various department: had deposited their All in this Concern, amounting in all to upwards of one hundred and forty thousand dollars. Runs have been made on other establishments, and it is believed that some of them will go by the board It is rumored that the Bank of Commerce, in Georgetown. has closed its doors The Secretary of the Navy has had under consideration to-day the propriety of tendering the English government the use of the frigate Niagara to aid in laying down the telegraphic cable to India, should the India company purchase that portion of the Atlantic cable now colled on the decks of the Niagara THE GENERAL NEWSPAPER DESPATCH. WASHINGTON, Sept 15, 1857. Hon. Thomas. H Benton continues to Improve, and is now considered past danger. Judge Bowlin has re.igned his office as Minister to Boguta. decond Assistant Postmaster Dundas has gone to New York on business connected with the facilitation of the Califo nan overland mail. The Secretary of the Treasury, on appeal, has reversed the decision of the Collector of New York, who assessed a duty of 24 instead of 19 per cent on colored or plaid fisnnels. The foot of their being colored or printed does not charge their character as known in trade, nor remove them from the schedule in which flannels are provided for especially The Secretary, on appeal, has also reversed the decision of the same Col ector, who imposed 24 insteal of 19 per cent on checked fiannels. That hey are checked and a large D&D raised on them than ordinary does not change their distinctive character or fiannels In another ca e the Secretary Bays :- In estimating the r reign character of wool, with reference to its exemption from liability to duty, the Appraisers can determine such volue independently of the invoice, by prices current and other able means of information of the value of the article in foreign markets such & they employ in ascortaining the foreign values of other staple articles of import." A sudoen and heavy run caused the partial suspension to ony of the Georgetown Bank of Commerce; but it re deemed 115 issues. and paid B ch of its depositors as were needy It is supposed that the stockholders will resume in a few days, as 16 is represented tome they are able, and thatibey will protect the bank The run was also keptup Ou most of the private bankers, but all demand having been pro mptly met, the excitement subsided before the cloaing hour.
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folk, hence for Richmond, was sunk in peake bay, during the gale on Monday. The crew were all saved. NEW YORK, September 16.-Fears are entertained in regard to the safety of the steamship Central America, which left Havana on the 8th inst. and has not yet arrived. NORFOLK, September 16.-The steamer Empire City, which has put in here brings $700,000 in treasure. The brig John Rhoads, of Boston, is ashore on the south coast of Cape Henry. The steamer Jamestown is reported to be blown to sea, with her cargo much damaged by water. Maine Election. PORTLAND, Sept. 16.-One hundred and seventy towns show a loss for the Republicans, as compared with last year, of 5173 votes. Financial. WASHINGTON, Sept. 16.-The Bank of Commerce, Georgetown, and the other banking houses on which a run was.commenced yesterday, continue to redeem their bills, and confidence is generally restored. CINCINNATI, Sept. 16.-From 3 to 5 per cent. discount is asked on all New Englend and New York county Banks. Arrest for Fraud. BOSTON, Sept. 16.-George S. Abrahams, Customhouse broker and agent for Baring & Bros., bas been arrested for forging and altering figures of invoices, or the purpose of defrauding the revenue. Kansas News. ST. LOUIS, Sept. 16.-We have Kansas advices that state that the Constitutional Convention has organized, with John Calhoun as President. Calhoun, on taking the Chair, spoke in favor of submitting the Constitution to the people. Five hundred troops had left Leavenworth for New Mexico. The St. Joseph Journal gives an account of a battle between Col. Summer's command and a band of Indians on the Arkansas river, about the middle of August. Sumner's loss was four killed. The loss of the Indians was twenty killed and twenty wounded. Overland Pacific Mail. WASHINGTON, Sept. 16.-The Overland Mail contract has been signed by John Butterfield, Wm. Dinsmore and Wm. G. Fargo and others, and by Assistant Postmaster-General Dundas in behalf of the Government. The price paid is $600,000 per annum, commencing on the 15th of September, 1858. The contractors contemplate forming a joint stock company. Massachusetts Politics. BOSTON, September 16.-The Democratic State Convention has nominated E. D. Beach for Governor. A Thief and Bigamist. BOSTON, September 16.-Wm. C. Godfrey was arrested to-day for stealing a gold watch. He is also charged with bigamy, in marrying five women-the last one to-day. He was connected with Dr. Kane's expedition and has published a book concerning it. Washington News. WASHINGTON, Sept. 16.-A letter from Commander Foote, of the sloop-of-war Portsmouth, dated Siam, June 16th, says that the treaties between Siam and England, France and the United States, are rapidly developing the resources of Siam. Several vesselsare now loading with sugar for the United States. Wm. R. Calhoun, of South Carolina, is appointed Secretary of Legation at Paris. Judge Curtis, of the Supreme Court, has been officially notified of the acceptance of his resignation. The Missing Steamer. AUGUSTA, GA. Sept. 16.-The Southerner arrived at Charleston this morning a complete wreck, with six feet of water in her hold. Jenkins' Reply to Walker. AUGUSTA, GA., Sept. 16.-Jenkins' reply to the letter of Gen. William Walker, which lately appeared in the New Orleans True Delta, will appear to. morrow. He wholly repudiates the position taken by Walker in the said letter. Domestic Markets. CINCINNATI, Sept. 16.-Flour $4 40 to $4 60. Red Wheat 85 to 90c.; White 95c. to $1. Oats 33c. Barley 93. Whisky higher. Linseed Oil 68c. NEW YORK, Sept. 16. Cotton steady. Flour buoyant. Wheat advancing. Corn firm. Provisions declining. Coffee firm. Rice 42. A CURIOUS CASE OF TIME IN THE LAPSING OF A LEG ACY.-Mr. oskev a gentleman worth some
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MONEY AFFAIRS AT W ASHINGTON. W ASHINGTON, Sept. 16.-The financial excitement has subsided. The Bank of Commerce, at Georgetown continues to reduce its paper, but withholds deposites for a few days. The private bankers having withstood the run, holders restored. are again depositing, and confidence is generally
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BY TELEGRAPH NEW YORK, Sept. 15.-Further Foreign news per steamer Persia. Constantinople advices say that the Porte insists that England shall evacuate Perine or restore it to Turkey. WASHINGTON, Sept. 15.-A heavy run was made on the Bank of Commerce, Georgetown, which caused a partial suspension of payments. It is supposed that it will resume in a few days. The run on the private bankers was promptly met. The excitement has subsided. The Secretary of the Treasury directs the appraisers of Foreign wool to determine the value independently of the invoice by such reliable means as can be procured. NORFOLK, Sept. 15.-The Empire City put in here for coal. She experienced a succession of heavy gales, which slightly damaged her. All well. PHILADELPHIA, Sept. 16.-The steamer Norfolk hence for Richmond was sunk in the Chesapeake Bay by the gale on Monday. The crew was saved. NEW YORK, Sept. 16.-Fears are entertained for the safety of the steamer Central America, which sailed from Havana on the 8th. PORTLAND, Maine, Sept. 16.-175 towns show a Republican loss over last year of 5173. NORFOLK, Sept. 16.-The Empire city brought 700,000 dollars. The Brig Roodes from Boston is ashore at South Cape Henry, The steamer Jamestown is reported blown to sea and her cargo considerably damaged by water. WASHINGTON, Sept. 16.-The Bank of Commerce at Georgetown, and the Banking houses run on yesterday, continue to redeem. Confidence is generally restored. BOSTON, Sept. Geo. S. Abrahams, Custom house broker, and agent of Baring Brothers has been arrested for forging, and obtaining the figures of invoices for the purpose of defrauding the Revenue. ST. LOUIS, Sep. 16.-Kansas advices say that the constitutional convention organized by electing John Calhoun President, who spoke in favor of submitting the constitution to the people. Five hundred troops left Leavenworth on the 9th for New Mexico. The St. Joseph Journal gives an account of a battle between Sumner's command and a band of Indians in the middle of August, on the Arkansas river. Loss-To the troops 4; to the Indians 20. The report that 400 Indians was slaughtered was unfounded. CINCINNATI, September 16.-Flour $4,40a4,60. Wheat.-Red 85a90c; white 95a1,00; Oats 33c; Barley 93c; Whisky advanced; Linseed oil 68c. From 3 to 5 per cent discount is asked on all New England and New York country banks. NEW YORK, Sep. 16.-Cotton steady; Flour buoyant; Wheat advancing; Corn firm; Provisions declining; Sugar during the last three days has declined 1 to 1c; Coffee firm; Rice The Pacific overland mail contract has been signe by John Butterfield, W. B. Dinsmore, W. G. Fargo and others, and Dundas, in behalf of the Government for six years, at $600,000 per annum. To commence in one year from yesterday. The contractors contemplate forming a joint stock company. NEW ORLEANS, Sept. 16.-Cotton-sales 400 bales at 15 a.6}., buoyant. Receipts 430 bales Flour $5,00a5,20; corn 65a70c.; Exchange lower. Sterling 8; New York 1. BOSTON, Sept. 16.-The Democratic Convention nominated E. D. Beach for Governor. Wm. C. Godfrey connected with the Kean Expedition was arrested for stealing a gold watch, and is charged with marrying five wives, the last of whom he married to day.
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BY TELEGRAPH. BY THE NATIONAL LINE. [Reports Furnished by the Associated Press.] FURTHER FOREIGN NEWS PER STEAMER PERSIA. NEW YORK, Sept. 15.-Constantinople advices say that the Porte insists that England shall evacuate Perine, or restore it to Turkey. Washington, Sept. 15.-A heavy run was made on the Bank of Commerce, at Georgetown, which caused a partial suspension of payments. Itissupposed that it will resume in a few days. The run on the private bankers was promptly met. The excitement has subsided. NORFOLK, Sept. 15.-The "Empire City" put in here for coal. She experienced a succession of heavy gales, which slightly damaged her. All well. WASHINGTON, Sept. 15-The Secretary of the Treasury directs the appraisers of Foreign wool to determine the value independently of the invoice by such reliable means as can be procured. Philadelphia, Sept. 16-The steam Norfolk, bence for Richmond, was suok in the Chesepeake Bay by thegale on Monday. The crew was saved. New YORK, Sept. 16.- Fears are entertained for the safety of the steamer Central America, which sailed from Havana on the 8th. Portland, Me., Sept. 16.-One hundred and seventy-five towns show a Republican loss over last year of 5,173. NORFOLK, S pt. 16.-The Empire City brought $700,000 The brig Roades, from Boston, is ashore at South Cape Henry. The steamer Jamestown is reported blown to Sea and her cargo considerably damaged by water. WASHINGTON, Sept. 16.-The Bank of Commerce at Georgetown, and the Banking houses run on yesterday, continue to redeem. Confidence is generally restored. Bo TON, Sept. 16.-Geo. S. Abrahams, custom. house broker, and agent of Buring Brothers; has been arrested for for_ing and altering the figures of invoices for the purpose of defrauding the revenue. Sr. LOUIS, Sept. 16.-Kansas advices say that the Constitutional Convention organizéd by electing John Calboun President, who spoke in favor of submitting the constitution to the people. 500 troops left Leavenworth on the 9th for New Mexico. The St. Joseph Journal gives an account of a battle between Sumner's command and a band of Indians, in the middle of August, on the Arkansas river. Loss to the troops 4; to the Indians 20. The report that 400 Indians was slaughtered was unfounded. NEW YORK, Sept. 16.-The Pacific Overland Mail contract bas been signed by John Butterfield, Wm. B. Diusmore, Wm. G. Fargs and others, and Dundas in behalf of the Government, for 6 years, at six hundred thousand dollars per annum, to commence in one year from yesterday. The contractors contemplate forming a joint stock company.
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From Washington. WASHINGTON, Sept. 15. Judge Rowlin has resigned his office as Minister to Bogota. The Secretary of the Treasury, on appeal, has reserved the decision of the Collector of New York, who assessed a duty of twenty-four instead of nineteen per centum on colored or plaid dannels, the fact of their being colored or printed does not change their character as known in trade, nor remove them from the schedule in which dannels are provided for especially. The Secretary, on appeal, has al so reversed the decision of the same Collector who imposed twenty-four instead of nineteen per centum on checked tiannels, that they are checked and a larger nap raised on them than ordinary, does not change their distinctive character of flannels, In another case the Secretary says in esti mating the foreign character of wools, with reference to its exemption, the appearances can determine the value independently at the invoice by prices current and other reliable means of Information, of the value of the ar ticle in foreign markets as they employ in ascertaining the foreign values of other articles of import. A sudden and heavy run, caused the partial suspension today of the Georgetown Bank of Commerce, But it redeemed its issues and paid such of its depositors as were needy. It is presumed that the stockholders will resume in a few days, as it is represented they are able, and will protect the bank. The rub was also kept up on most private bankers, but all demands were promptly met.
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Run on the Georgetown Bank. W ASHINGTON, Sept. 15.-A sudden and heavy run caused a partial suspension of the Georgetown Bank of Commerce to-day ; but it redeemed its issue and paid the most needy of its depositors. It is supposed that the stockholders will resume in a few day-it being reported that they are able and willing to protect the Bank. A run was also made on most of the private bankers of Washington city, but all demands having been promptly met, the excitement subsided before the closing hour. Important from Mexico-The Tehuantepec Transit. NEW ORLEANS, Sept. 12.-The old Tehuantepac Transit grants have been cancelled by the Mexican government, and a new and favorable one made with the Louisiana Company, as recently organized, removing all the objectionable features of the old grants. The new grant cedes only sufficient lands for the uses of the company. The papers were signed on the 5th inst.
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NORFOLK, Sept. 16.-The Empire City brought $700,000. The brig Roades, from Boston, is ashore at South Cape Henry.The steamer Jamestown is reported blown to sea and her cargo considerably damaged by water. WASHINGTON, Sept. 16.-The Bank of Commerce, at Georgetown, and the Banking Houses run on yesterday coutinue to redeem. Confidence is generally restored. BOSTON, Sept. 16.-Geo. S. Abrahams, Custom House Broker and Agent of Baring Brothers, has been arrested for forging and altering the figures of invoices for the purpose of defrauding the revenue.
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H TELEGRAPH NEW YORK, Sept. 15.-Further Foreign news per steamer Persia. Constantinople advices say that the Porte insists that England shall evacuate Perine or restore it to Turkey. WASHINGTON, Sept. 15.-A heavy run was made on the Bank of Commerce, Georgetown, which caused a partial suspension of payments. It is supposed that it will resume in a few days. The run on the private bankers was promptly met. The excitement has subsided. The Secretary of the Treasury directs the appraisers of Foreign wool to determine the value independently of the invoice by such reliable means as can be procured. NORFOLK, Sept. 15.-The Empire City put in here for coal. She experienced a succession of heavy gales, which slightly damaged her. All well. PHILADELPHIA, Sept. 16.-The steamer Norfolk hence for Richmond was sunk in the Chesapeake Bay by the gale on Monday. The crew was saved. NEW YORK, Sept. 16.-Fears are entertained for the safety of the steamer Central America, which sailed from Havana on the 8th. PORTLAND, Maine, Sept. 16.175 towns show a Republican loss over last year of 5173. NORFOLK, Sept. 16.-The Empire city brought 700,000 dollars. The Brig Roodes from Boston is ashore at South Cape Henry, The steamer Jamestown is reported blown to sea and her cargo considerably damaged by water. WASHINGTON, Sept. 16.-The Bank of Commerce at Georgetown, and the Banking houses run on yesterday, continue to redeem. Confidence is generally restored. BOSTON, Sept. 16.-Geo. S. Abrahams, Custom house broker, and agent of Baring Brothers has been arrested for forging, and obtaining the figures of invoices for the purpose of defrauding the Revenue. ST. LOUIS, Sep. 16.-Kansas advices say that the constitutional convention organized by electing John Calhoun President, who spoke in favor of submitting the constitution to the people. Five hundred troops left Leavenworth on the 9th for New Mexico. The St. Joseph Journal gives an account of a battle between Sumner's command and a band of Indians in the middle of August, on the Arkansas river. Loss-To the troops 4; to the Indians 20. The report that 400 Indians was slaughtered was unfounded. CINCINNATI, September 16.-Flour $4,40a4,60. Wheat.-Red 85a90c; white 95a1,00; Oats 33c; Barley 93c; Whisky advanced; Linseed oil 68c. From 3 to 5 per cent discount is asked on all New England and New York country banks. NEW YORK, Sep. 16.-Cotton steady; Flour buoyant; Wheat advancing; Corn firm; Provisions declining; Sugar during the last three days has declined 1 to 1c; Coffee firm; Rice 43c. The Pacific overland mail contract has been signed by John Butterfield, W. B. Dinsmore, W. G. Fargo and others, and Dundas, in behalf of the Government for six years, at $600,000 per annum. To commence in one year from yesterday. The contractors contemplate forming a joint stock company. NEW ORLEANS, Sept. 16.-Cotton-sales 400 bales at 154a164., buoyant. Receipts 430 bales: Flour $5,00a5,20; corn 65a70c.; Exchange lower. Sterling 8; New York 1. BOSTON, Sept. 16.-The Democratic Convention nominated E. D. Beach for Governor. Wm. C. Godfrey connected with the Kean Expedition was arrested for stealing & gold watch, and is charged with marrying five wives, the last of whom he married to-day.
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The Financial Pressure. THE BANK OF COMMERCE, GEORGETOWN, D. c. W ASSINGTON, Sept. 23, 1857. The Bank of Commerce, of Georgetown, has resolved to pay all deposits of $100 and under, and to pay the interest on larger sums an sufficient assets are received. which are hoped for in a few days. the stockh iders acknowie.ge their individual responsibility for all liabilities. SUSPENSION OF THE BANK OF BARTFORD COUNTY. HARIFORD, Sept 23, 1857 The Bank Commissioners here have this morning served a temporary injunction against the Bank of Hartford County, in this city, and have closed its doors. The bilbolders and depositors will be paid in full; and there are hopes that the bank ma, in the course of thirty or sinty eays, open again. This bank was chariered under the general banking law of 1862. All the other backs in the city are lot ked upon as perfectly good. FAILURES IN PHILADELPHIA. PHILADELPHIA, Sept 23, 1867. Caleb Cope & Co., dry goods merchants in this city, have suspended pay ment. The amount of their liabilities to nearly $100,000.
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THE CRISIS IN VIRGINIA. SUSPENSION OF THE GEORGETOWN BANK#, ETC. WASHINGTON, Sept 29, 1857. The Bank of Commerce and the Farmers and Mechanica' Bank, of Georgetown, have followed the example of the Washington banks and suspended specie payments. None of the banking houses have refuse the demands against them, except the suspended house of Messra. Palm & Nourse. THE NORFOLK BANKS. NORFOLK, Sept. 29, 1857. All the banks here continue firm. BANK SUSPENSION IN NORTH CAROLINA. ELIZARATH City, N. C., Sept. 29, 1857. The Farmers' Bank, of this city, has suspended The brokers are taking the notes at fifty per cent discount. FINANCIAL AFFAIRS IN NEW ORLEANS. New ORLEANS, Sep: 29, 1857. Money is tight and exchange stagnant; but no fears for the banks are expressed.
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SUSPENSIONS IN GEORGETOWN. GEORGETOWN, Tuesday, Sept. 29, 1857. The Bank of Commerce of Georgetown, which continued to redeem its issue in specie, has come into an arrangement with the District banks, and suspends specie payment altogether. The Farmers and Mechanics' Bank in Georgetown, has also suspended.
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EVENING STAR. WASHINGTON CITY: October 8, 1857, THURSDAY SPIRITOF THE MORNING PRESS The Intelligencer discusses the current panic, taking occasion to show very clearly, we think, that it is utterly unfounded in any just cause. Or, in other words, that it is merely the result of over-speculation on the part of traders in money, and a sudden unnecessary fear that has struck the hearts of the people. In the course of his article the editor says: The great revulsions which periodically overtake us in our haste to accumulate wealth have their origin doubtless in that passion for rapid accumulation and consequent over-trading which pervade all classes. of the community and infect nearly every species of business activity. The consciousness of this it is which renders each individual so susceptible to a panic that a single disaster in a remote quarter of the country is found enough to raise and propagate through all ranks of society the craven and selfish cry of sauve qui peut." The Union's editorial columns are again devoted, to-day, to Banks and Banking," the article being directed for the most part to an exposure of what the editor evidently regards as the evils flowing from the course pursued by the note-issuing banks of the District of Columbia. He presents his readers with a historyan incorrect one in many points, we apprehend-of the banks and banking in this District for the last forty years; and also contends, with no little force, that the present note-issuing banks exist illegally, are not responsible for their obligations, and cannot collect by law a dollar due to them. Such is the line of his argument. In the course of his remarks, the editor classes the Bank of Commerce, in Georgetown, with those he names-the Bank of Columbia, the Bank of the Republic, the Merchants' and Farmers' Bank of Statham, Smithson & Co., &c., dc.-as having bursted up, defrauding their creditors. This, we are very sure, must have been but a slip of the pen; for he must know that the Bank of Commercé paid its notes longer than any other existing note-issuing District bank, and that all the property of its wellknown wealthy stockholders is publicly pledged for the fulfilment of its every obligation. So far as security is concerned, its creditors are much better off than those of any other District note-issuing bank. There is no uncertainty, whatever, as to the character and extent of its stockholders' obligations, nor have those who manage it conducted its affairs in the present crisis SO as to forfeit, in any degree, the public confidence in their desire and determination to resume specie payments at the earliest moment possible. The course of this bank, throughout all the current financial troubles, has been so specially fair and above-board" towards the public, as that we feel it our duty to express that opinion in the Star. Unlike the other District of Columbia note-issuing banks, it claims no chartered privileges whatever, being a private bank, for whose transactions all its stockholders-partners-are liable in all their property.
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A stockholder of the Bank of Commerce of Georgetown thinks that we have been wrongly informed as to the facts concerning their suspension, and desires to make a correction. Our article of yesterday, so far as it related to the Bank of Commerce, was based upon information which we deemed correct. We certainly had no intention to do injustice to either banks or individuals. We, therefore, publish the communication of stockholder with a great deal of pleasure : To the Editor of the Union : SIR Your well-established reputation for fair and correct dealing towards the moneyed concerns of this District induces me to appeal to your sense of justice to correct the observations which your article in the Union of to-day, on the banks of the District, contains, in referrace to the Bank of Commerce of Georgetown. That ban has not inflicted upon the public or its customers any such loss as you allege. It has, on the contrary, redeemed n early all of its issue, and paid a large share of its deposites in specie, and its stockholders and officers have assured the public that no creditor shall lose one cent of what may be due to him. The stockholders have large and ample means to meet more than five times the liabilities of this bank. Their names have already been announced to the public, and your own advertising column's exhibit the fact that they have guarantied the payment of all the liabilities of the bank. I will add, further, the Bank of Commerce would have continued to redeem its issue in specie had not the other banks of the District suspended specie payment, and it was deemed proper to suspend also, and hold themselves ready to resume whenever the banks here or in Baltimore and Philadelphia resumed. Credit is always, but especially at this time of pecuniary distress, of too inestimable value to be suffered to be dragged down by false clamor and misconception ; and I am sure that your own sense of justice will hasten to repair the evil effect which you have, no doubt unintentionally, generated against that bank. By consulting the business portion of the community, you will find that public confidence has not been shaken in its ability to pay ; and that its course during the present money crisis has indicated anything but bankruptcy A STOCKHOLDER. or pecuniary destruction.