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The Franklin Bank, South Boston, has suspended operations. Its notes are from fifty to seventy-five per cent. discount, Many brokers continued to purchase them at the usual rates before its suspension became known. It has not yet, we believe, given to the public a statement of its condition, or made any arrangements for the settlement of its affairs. OF The La Fayette Bank, Boston, has also suspended.
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very great. The farmers of Rhode Island have just had a touch of whig legislation-a long and unprofitable session. There was a good deal of speechifying, especially from the rival candidates in the Newport bench, each of whom seemed to think, in the nbscence of the first representative, that the mantle of Elijah had fallen upon him. FROM FLORIDA.-We have disastroos news-from Florida. The Savannah Georgian of the 28th ult. states that Lieut. Powell, with about 80 men, including regulars, landed at Jupiter inlet, and took a squaw; she told them she would carry them where the Indians were encamped, which was 2bout 7 miles off. Lieut. P. attacked them. The Indians returned the fire with a good deal of spirit, when the sailors ran, and had it not been for the artiltery they would all have been cut to pieces. All the officers were wounded. Dr. Lightner was killed. The steamboats Charleston, William Gaston, and James Boatwright, were at St. John's bar, waiting the favorable weather to proceed to Indian river, where they were ordered by Gen. Jesup. Subsequent accounts confirm the above, and make it appear that the troops sustained adefeat. The Indian force exceeded the white about one hundred. The marines lost an amunition boat, being compelled to abandon it, in their hasty retreat. STATE OF THE BOSTON BANKS.--The Boston Times of Monday says, "there is good reason to believe that the crisis with the Banks is now over. Those that have withstood the unparalleled excitement of the past week, will undoubtedly be able to hold out during the remainder of the storm, though some of them, perhaps, have become so crippled in their finances that they will deem it best to wind up their affairs, and apply for a surrender of their charters. The Franklin, Lafayette, Commonwealth and Middlese* have in fact failed, and at present pay nothing. The charters of all of them are forfeited, and no doubt those of the three first will be taken away. The Middlesex bank is understood to be making arrangements to resume payments, at least on its small notes. The Legislative Committee, it will be seen, has reported against the continuation of its charter, but we believe there is no doubt of its power to meet all its liabilities to the public. The American and Kilby only pay their small bills at present, but there is no doubt but they will redeem their large bills soon. They are to be wound up. The Hancock, Fulton, Commercial, and possibly the Middling Interest, may find it for their advantage under their peculiar circumstances, to close their banking operations. The Fulton at any rate, has decided upon that course. All the other banks are believed to be sound and firm. They have, it istrue, been taught a few hard lessons of experience, which, however, will do thenr good in the long run. The symptoms of returning confidence on the part of the public already begin to manfest themselves."
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though the bank writer seems to be imprfectly acquainted with grammar. What was the design of the call on the part of the Senate, I have yet to learn, unless it was done to prejudice the minds of Congress against banks. Both houses have been exceedingly dull today. In one house, the Army Appropriation Bill, and in the HORACE. other, the Camberland Road. BOSTON, March 30, 1838. MR. BENNETT-We have little or no news in this region-still less business. Importing and jobbing, and, in fact, business of all kinds, seems to have paused in its operations. The banks are hauling in, and the merchants are obliged to pay the last dollar to cancel their liabilities. The associated banks here are determined to meet the Gothanites face to face; so that, whatever may be the determination on their part, they will agree upon, and act in concert. The managers of our banks have had some important private meetings, and from what can be learned out of doers, they intend to curtail and then resume, whether they have company or notin order, if possible, to re-establish the credit of the Boston banks. The Market Bank has published a statement, which is not very satisfactory to the public. That it is in difficulty, few question; and that it has been seriously run upon, is noterious. However, the report made by interested persons, is worth as much as any fairstory which was ever made by individuals who have property at stake. The banks here have fallen from an eminence which was once indeed a credit to Boston, but from which she will never recover. For instance, the exploded banks: American Bank will pay her bills in full. Commonwealth Bank (president deceased-cashier and some of the directors in pecuniary difficulties,) will pay about 40 per cent. Commercial Bank (president gone to Canada with $19,000 in gold,) will pay her bills probably in full. Their funds are loaned to a few individuals, which, if paid, will be favorable to the stockholders. Franklin Bank (president, cashier and directors, indicted, and are to he tried for mismanagement; president Dunham says he can't read or write so how,) will pay probably 15 cents. Fulton Bank (some of its officers are laboring under the pressure of the times.) will pay from 80 to 90 per cent. Kilby Bank (some of its officers have known what it is to be in hot water-funds of the institution distributed among the directors,) will pay not far from 90 cents. Lafayette Bank (the past and present presidents, with the directors, are indicted for mismanagement, and will have their trial in a few days one of their directors has just had his trial for stealing $10,000 of Lafayette bills, and has been acquitted; the bank has been miserably managed,) will pay possibly, 7 per cent. The banks to be wound up are the Washington Bank, Hancock Bank, and Oriental Bank; and many more, doubtless, will think it expedient to surrender, and die an honorable death rather than to linger on, and after all, be compelled to give up the ghost, in deep disgrace. Many failures have not taken place here within a short period, though in all probability they will occur in afew weeks to an alarming extent. Yet, indeed, the plan of mertgaging property is here all the go! The city clerk, with hisassistants, find but little leisure, while the lawyers are cudgelling their brains in devising howtheir clients can get out of a bad scrape, and not suspend payments. The mortgages of one large house which failed a short time since, covered one hundred and fifty pages. So, thus they contrive and plan. Many respectable houses, who are now in good standing, have get their stocks mortgaged The Misses Grimke are here and lecturing at the Odeon to crowded houses. Great anxiety is manifested to hear them. They are listened to with profound respect and attention. Abolition is making great headway in this State. I assure you, you might as well talk about putting spurs to the lightning, as even to (attempt to drive the thing faster, or to make Abolitionists more rapidly than they are ROW increasing in the East. The C. H. Lord prosper the cause of the just.