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1,831,622 4 One 3,290 39.520 9,711 bble Beef 10,965 86.128 bble $8,684 Pork 387,282 604.400 Butter 569,814 6,807,200 9.248.500 Lard. 611.677 833.400 Cheese 1,555,08 2.744,500 Woel 2,089 446 7,705,800 Be..8,300,600 Bacon The Albany Argus says: It is understood that the Governor will not, at least at present, and until the necessity is more appsrent call the Legislature together. Indeed, the New. York bankere who at first requested it. have now taken the opposite tack and oppose it. If such is the determination of the Executive, we certainly hope that all backs which conduct their business in a fair manner, and clearly solvent, will be allowed to proceed, without any attempts on the part of any persons to embarrass them by legal proceedings. Public indignation will set very strongly against any person who may institute vexatious prosecutions at & time like the present The banks are only in the same condition of suspension which eb gracterizes the business community, and any annoyances inflicted upon them will embarrass their customers and business men generally. Mutual forbearance must be the feeling and the rule, and it will be highly creditable to the people of this State, if it shall be found unnecessary to adopt any legislative remedies in the present crisis. We think there is occasion for bankers and business men to take courage and struggle on, and they may reasonably expect that 8 few months of exertion will carry us into a greatly improved condition. But it must not be supposed that we are to be rapidly restored to prosperity. The causes of the present troubles lie too deep to be reached and removed except by slow process. remedy lies in & general and vigorous effort to reduce liabilities, curtail business and retrench expenditures. We are like a party of bathers who have ventured beyond their depth Part of them have been drowLed, and the only safety for the others is in hastening toward the shore, where they can plant their feet firmly on the bottom. and keep their heads above water. Let every man struggle for life to do this, and shall rapidly approach a condition of safety. The banks should not for an hour lose sight of the necessity of return to specie payments at the earliest moment. Until that is done there is no real soundness, and we are in state of partial insolvency. The sus pension should be regarded merely ae s breathing spell for the banks and business men. As soon as they have had time to rest they must return to their usual duties. After the Fall trade closes, business will naturally contract, and the Winter will afford an opportunity to bring the financial machinery again into gear and enter upon resumption. Since the above was in type we have received the following NEW York, Oct. 17 1857 To Thomas Tilevion, m and other Prodidate v Heaks represented tal be Now York Charing House GENTLEMEN: Is obedience to your instructions, we yesterday appeared before his Excellency Gov error King at Albany, to present your memorial and enforce your views with regard to the proposed extra session of the Legislature. The general scope and character of the public views then submitted to the Governor will sufficiently appear in the brief but comprehensive outline reported in the Albany newspapers, and opied this morning in the public journals of this city We deem it important. however, to add, that in addition to those broader and more general considera tions, we also submit in detail the legal technical rea. sona necessary to show that the 'insolvency) of banks contemplated by existing laws, and calling for the summary process of Receivers, and onsequent suspension of their corporate functions, was an actual, practical insolvency, in the common sense of the term, and not a merely technical or constructive insolvency, arbitra rily inferred from & momentary or temporary delay in paying all their obligations in coin, and that the creditors of banks actually solvent might safely and prop erly be left in such cases to their ordinary remedies by suit at law. We deemed it important to show that this view of the case bad been explicitly and authoritatively established by the Supreme Court in recent decisions, and also to satisfy the Governor that those decisions had been made in cases in Court actually arising, and were co sense voluntary or extra judicial. of For this purpose we showed to him that. in point fact, there had been three separate applications for in junctions and receivers against three different banks pending before two of the Judgee of this districtbefore one Judge and one before another; that those Judges, having deemed the applications important, called in their associates of this and the Second Judicial District for consultation, as is often done in diff. cult and important cases; that the result of their deliberations was decision by the two Judges before whom the applications were pending, deeying the mo tions for injunctions and receivers. The desisted was in accordance with the unanimore opinions of all the Judges present. As the community was deeply concerned is the questions thus decided, the Judges very wisely and properly stated the propositions on which their desisions were founded and allowed . report of them to be published. In this they did DO more than has bose often done by the old Court for the Correction of Errors and the Court of Appeals, via.: pass resolutions in important cases of pabilo interest, dictation the principlee settled to the case decided, end allow term to be reported and published Stace the ennouncement of these propositions Judge Roceevelt, on the application made to him for BE intunction and receives against the Bank of New. Yer's has desied the motion, and is preparing, as we understand his reasons is full for his decision. After promoting these and other facts and views to the Governor, w respectfully asked for in expression o his opinion on the subject. He was pleased to pay in areas that be bad listened with pleasure advantage to the reasons presented in behalf of the leading Banks of the City of New-York. but that he was not prepared, at present, to do more than to hold the question of as extra session in reserve. Respectfully, your aboden corrects, SAMUEL FOOT SAMUEL B. BUGGLES. The Philadeiphou Register saye: There is this important difference in the suspension of specie payments by the benks now and is 1387. Then the rate of sterling exchange was 20 22 . cent premium. Coin was ebipped out of the country by millions of dollars, all business was afterly prostrated, and to continued until the rate of exchange was reduced so low as to render cola shipments w prostable. It eventually, and months before resump tion, got below par, and coin in small amounts am to this country. Now. at the very time of the present suspension, the rate of sterling exchange is below per, and coin is coming here by almost every arrival. The country is also well filled with foreige imports; so that there exists no necessity for any very heavy importations. We have, also, of all the principal etaples a great abundance, ready to go forward at the first intimation of & demand for them, both facts guaranteening to some extent that the balance of trade will continue for some time in our favor, In these respects, the present suspension more favors it an early resumption than did that of 1837. Then required some considerable time to come down to & starting-point upward, as regards the foreign excharges. Now. in our foreign financial relations, we stand & right. There is nothing to fear in that quarter. The question of & resumption, therefore, resolves itself into one of a purely domestic character. It is simply & matter of adjustment of liabilities among ourselves and, while we fear & lengthened depression of all busiit ness, we hope for an early resumption, and through will come the earlieet relief from our present embar rassments. With economy and & on the part of
