Vermont Watchman And State Journal

THINGS IN NEW YORK.

From the Commercial Advertiser, Monday Eve.

Most of the brokers bought western notes this morning, at 2 per cent.

There were several additional failures on Saturday—the whole number of large houses that have suspended, since the first crash in Wall-street, being two hundred and fifteen.—[For more than $70,000,000 !!]

Troubles near by.—We regret to learn that the Ludlow Factory Company has failed, and the property all assigned. A large Manufacturing establishment in Taunton, it is also said, has stopped payment. It is further rumored that some of the Lowell Factories have stopped. This is bad news for the wool growers and the holders of wool for higher prices,—Rut. Herald.

Pressure in Massachusetts.—The Boston Courier of Friday has the following:

In this city we have had some failures, within a few days for very large amounts, which affect also the New-York houses, and yesterday the extensive house of Crocker and Richardson, at Taunton, was reported to have failed for six hundred thousand dollars: they have had dealing to a very heavy amount in this city. The shoe dealers in some of the neighboring towns are expected to be great sufferers by the failures at the south.

It is stated that the stoppage of several houses in New York, extensively engaged in the shoe business, has occasioned a great many failures in Lynn, and has affected the other manufacturing towns in the same vicinity.

The Hartford Review says:

"Two or three failures have lately occurred in this city, from the difficulty of obtaining remittances from the South and West.—There is a general stagnation of business in our midst."

From the New-York Express.

CAUSES OF THE PUBLIC CALAMITY.

The programme of the existing condition of things, which is but the verification of the prophecies of 1832, 1833, and 1834, may be drawn thus

Primary Cause.—The veto upon the United States Bank.—Consequences of that.—The tripling of the State bank capital—over banking—over importing—the borrowing of specie from Europe to support the issues of the State banks.

Secondary Cause.—The removal of the deposits. Consequences of that.—Great stimulus to the State Banks in their issues. The making of state banks political agents. The investment of the public funds in the public lands by partisans and others. The inefficiency of the State bank to manage the domestic exchange. Difficulty of cashing bills on distant states. Great suffering in the transfer of the public resources, and great danger of loss.

Third Cause.—The Treasury Circular.—Consequences.

The piling up of the specie in the West and South-west, and subject to the call of the government. Inability of the western banks to discount. The consequent inability of the merchants to pay their debts to the seaboard.

Failures in the west and failures on the seaboard. Alarm of our creditors in England—a call for pay—inability to pay—post notes, bonds, temporary expedients for relief—a want of confidence—no man knows whom to trust—a crash. England calling on us for immediate pay, forces our cotton into market—Cotton falls. Real estate goes down. Usurers scared. Money on bond and mortgage three per cent a month.