The New York and other Eastern banks continued to redeem
their engagements in specie ; but " suspension" was the order of the day, South and West ; and even in New York a meeting was about to be held to consider the question of suspension. In Balti- more and Philadelphia, the bunks were discounting freely, though their notes were at 10 to 15 per cent. discount. It appears that the United States Government had also sus- pended payment, for although insisting on specie from all its debtors, in two instances drafts on the Treasury had been refused payment except in notes of the suspended banks. This, say the Opposition, is a pretty specimen of the JACKSON hard-money system.
Another destructive fire bad, occurred nt Mobile ; and there were reports of' a similar calamity at New Orleans. The Neu, York HeraltImentions that the American Government had ordered a naval force off the coast of At to prevent Ameri- cans from carrying on the slave-trade.
Previous page
