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RHODE ISLAND. SUSPENSION OF THE PROVIDENCE BANKS. (From the Provicence Journal, Sept 29 ] The banks of this city have resolved to suspend specie pay mebia. A meeting of the representasives of ine banks was held yeste day William sheldon, President of LOE Eagle Back, WBS elected chairman, and Jabez C Keight, President of the Roger Williams Bank, secretary. abirty three of the thirty nine banks were represented The 45. untees were the Providence, Merchants', Bank of Commore Union, What Obeer, and Lime Ronk After some discoverion, an inf. rmal baliot was tiken, and resulted emly one for suspension, nine against suspension, one diviced, and one bot voting for want of instructions. A vote was then passed without a count:-" That Vote meeting refer mmerd the various backs in this City 10 suspend specie pay ments for the present" Shuback Hatchins, or the American Bank, Elisha Harris, of the Babk of North America, and Jabez U Keight, of line R ger wi Hame Bank, were ampolated a com where 10 fix upon a plan for the regulation of the exchange, among the balks. The chairman DD accretary were authorized to call another meeting, 11 in their jodgment is abouta be occessary. This important measure bas not been resolved upon with out a well consicered pinion of its over rung necessity It may be the result of au incorrect By lew of Danking, but is is the system upon which all our business has been educated, and to which all our busidesa has been acapted No be ks in the country sent a more favorable pro or tion of means to their liabilities than our OWD Their cir culation is email, their deposits are email, 607 the paper in which their capital is invested is founded upon the fass property of the State, and such is the public conâdonce in be excurlity of their capital, that even the unexampled real ure in the money marbet na force+ their stocks, in few instance, down w par. Yet is was be or Inton of those best able 10 judge that they could not go on wish their pretebt contraction without breaking their customers, and bringing to infolverev nearly the bole business commomy Amor those who advocated the suspension were IDe D who had II Saturday held out regolately against it, and who ylelded only under the conviotion that it was the only thing at could preserve the mmun ty from ag Deral bank repley, by which the backs themselves would necessarily lore immensely, and the only thing that could save the la. bonds people from entering upon the winter with the loss of employ ment and with DO means for the support of their families Many milla had stopped, nearly all of then ba1 commenced Funding on short time, there was NO market for goods, and nobody had the courage buy OF the cont desce to sell. No ODO doub 8 the evile of a suspension by the banks, and this evil was DOL dented or attempted to be be concealed; but it was regarded as a necessity that Lowever depiciable, could only be postponed ai immense sacrific e, and that would a ally come the feeling in the Bizee after the suspension had been made known was evidently one of rehef, and every man keo upon mercantile paper as more valuable than 11 was before. The barks, in this measure, have tasea upon the macives important responsibilities, which we have no doubt trey will foldi, ano we have no question shal the community will extend 10 them the outfidence and for bearance which were never more necessary than now, and which are well deserved It 16 reported that some few of the backs have not determined to join in the suppension.