Article Text
CUMBERLAND, May 20, 1837. Immediately on the receipt of the information on Saturday last, of the suspension of specie payments by the eastern and northern Banks, the "Cumberland Bank of Alleghany" adopted the same measure. The "Mineral Bank, however, continued to redeem its notes in specie during Saturday and Monday, but on Tuesday also declined further specie payments. We are glad to add, however, that the course adopted by our banks is approved by the community generally. There exists no distrust of their solvency or ability to redeem their issues. Their notes pass as currently with us now, as before the suspension of specie payment. A great difficulty is, the procurement of small change. But this difficulty, we are told, will in a measure be relieved, in the course of a few days, by arrangements about being made by the Cumberland Bank of Alleghany. Civillian.