Our own house was not a borrower in New York at all, but many of our Western correspondents were, and it taxed my tune to watch their interests. In September, the panic extended so as to threaten the safety of even some of the New York banks not connected with the West; and the alarm became general, and at last universal. In the very midst of this panic came the news that the steamer Central America, formerly the George Law, with six hundred passengers and about sixteen hundred thousand dollars of treasure, coming from Aspinwall, had foundered at sea, off the coast of Georgia, and that about sixty of the passengers had been providentially picked up by a Swedish bark, and brought into Savannah.

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