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The Daily Dispatch: November 22, 1860., [Electronic resource], The Southern secession movement. (search)
General suspension of the Banks. Yesterday all the Banks of this city followed the example of the Farmers' Bank, by suspending specie payments. This proceeding has met with the almost unanimous approval of the citizens of Richmond. The embarrassments of the times are not attributable, in the slightest degree to commercial or financial errors or excesses. They are altogether owing to causes of a political nature, over which neither our Banks nor this community could have control, and for which they are altogether irresponsible. But the effects of these causes penetrate every part of the country, and occasion a universal disturbance of the industry and trade of the nation. A commercial revulsion, having its origin in merely commercial and financial extravagance, could be in some measure controlled, and need not be so widespread in its effects; but the storm which threatens the Union with destruction, spreads its disastrous consequences everywhere, and produces that sort of pa