The Banks suspend specie Payments
--But they suspend full-handed, and not because they have not specie enough to redeem every dollar of their circulation.
They suspend in order to bring the Confederate Treasury notes up to par, and cause them to be as good as bank notes, which are equal to coin, though for the time being and in the extraordinary emergency that has arisen, they cannot be exchanged for it as heretofore.
Our readers of course perused the Governor
's proclamation yesterday, advising the banks to take this course, and they know as well as we do the reasons which influenced alike the Executive
and the banks in favor of the extraordinary measure.
The banks run the risk of forfeiting their charters.
The Governor cannot help them, nor can the Legislature; but that which creates and uncreated.
The whole question must and will be referred to the people, in whose behalf the suspension has been made.
There was an exigency, and public opinion, the Executive
, and the bank all seemed to coincide in favor of the necessity of the step that has been taken, by the latter.--New Orleans Bulletin.