The enquirer. [volume] (Richmond, Va.) 1804-1815, 1805-01-29

Centuries ago, to\ prevent the circulation
o' notes payable 10 beNrcr. THIS law had been
'oopte6 Tor tue wlteii Srpofes: and tie iner-
rui'y' Of man had rot Gated 70 Violate il. Us
words were q elSar an,A fronc, that no op~
mad dated To btsve lis peNstita. Il beion ed
% me bLnk OF Poto.aac u make this expert
ment. They caught az fhe\ worc Bears, %
and thsy made therr notes psyable 90 ffeir
Gather; and ~ hin the notes were snJorl-6.
ard thus circulated among 4. 3. (. &c.
VIM the icgi4ltvue % Virg. ,htu ct paiiivs IN
GertmSooviousi iUiatiug orits awyi z nuftmav
had cc9ent res!ors al G3i, flr eusSt;ne TIM.
law aud do they not itiii operate
Thief tea.on9 have heeu partly ncrt;sred ~
tfe gentleman from AHie!&. he Faxed taat
without this law you wonld have no cortroul o.
Ver the operations of thcie barrie; you ,:.,nld
M" circumlcride their cirou.at;o, Nv tle,r n.
pt%l you could moi even Emit re eA;e,: ~
their capital. To i1ew the advantages - rn.
vaie 6anks It has been faii HAT i,cie,y v ii be
berehttd by their comp,tt IN an5 tns' 600
bs"ks we're 5000 times Letttrthan ore: Tbs
was an erroneous p0itiC,. MONEY ,,as.Cl;,i-f
ely what blood is to the human (, GcS.
certain proportion Of it cauies las 20 i,s,f1,,r-
our funtions properly, heathily aud agree siiy.
linSie drop, rcrc or iei5, las tsT.dCG,.t. &
dhur1 ITS action. Il you throw in too ntch.
yo" bnng on phiethoras S5bfrati from the
natural quantity and you occaGon c0ufumpti-
O'' "'tN' t'OthrS. 90 " is WIN mC0ry III the
commercial tyfem. To thew the eft els of an
exCeiiive collation., let us iilueiaic If by a
particular cafe. Snppofe the produce of Vir-
gina was hogihead Ut tobacco: & that there
were only K. 10 IN f3ecie in the whole Rate.
Zen the whole produce of Virginia NouiG be
worth &. lo. Supp, then that IN this rfatc,
Containing one hogihead OF tobacco and e. 10,
yon throw 10000 dollars iato circulation
the, one oftwo effects would arifs which ,yonld
NJ fEaaTr1 10,
$500 dis. of this money would remain ieIe & III.
employed; or the price ofthe tobacco woulibe
RATED to that fun. the price of the article
rtes, you generate Ejaculation : you fst art-
nj men to work, who are arGnanted with The
uie of money, with :ht cate of the market.
and with the probable rife in the pri e of com
modities, and thus the ignorant man will be-
come victim to his iEtiieues Ills was ,}r,.-
ciiciy the cafe with the American folders and
the ipecu'ators, before the Introduction of our
ftcai fyitcm. This TOO is 0ate - focietv emf
ncntly injurious &c il commerce With other ma
tons. When the nominal price of commod,-
ties is 70 high, what profit could The merchant
ma e by transporting them 10 other Countries.
hefe were the conequences of an executive
CT ulaton OF paper money, which it was the
pat OF wife legitatur. 70 prevent. IN Great
Britain, great commercial nation, even three
centuries ago, they faw the necefity of dong
I
ton of private bank notes, they declared that
no private bank fhoud iTue notes unlefs it con,
flied OF 6 members who ;hcuid 90 b. fore a ma
Citrate and certify nov much capital they had
Mr.. Ta29"sN had one more remark 10 MAKE
II this bill Is pu' Of till rhe sir Of NIarc it " II
De laying that re I ,>tolnsc Bank is 70 remain
one YEAR ioneei. ~ the end of that period,
me ieSii3tIIre VII no; dare TO ten h te.n For
Hthey nave the leaf oT;!Gence IN the World
they will emit 10 much Of their money, thls
there will be man, who has not one of their
notes in rs pocket. Thefe people will than
come UPON the bank, the bank will be broke
and the people of Alexandria will then be much
more injured than they would he now. II ne
legislature once declare by their fiience that p
private aiiociation may inue its noses in that
way, the refult would b., that IN every
town. ard principql village, thoufauds and ms
OF tb.diaDds of thefe notes would he ifi,-d
10 the borough OF f}orfcl!,, hc ki,eN there y l,
be two or three. Even before this ingen;ou.
device OF whipping round the law wa: ned.
rated, there was rumpur Ian year that pri-
Vate aeciation was to be etabli,hed in Rich
mead. Let this bill be fufpended for one wear:
and the legislature dare not pats it. Almof a.
very man III the fate would be ruined for al
moi every man would have fome of thef- sri
vdte hotcs.
MI. Singleton and Mr.. Powell replied thew
were followed by MIR. Blake, who BROUGHT for.
ward reiointions embracing the proportions,
which Mr. Tyler had fuggeited Thefe were
reJe6ted. The motion for performing the bin
was alto loft; when the bill was pat, and order
ed to be engroiicd and read third time.
- The attention OF the Editor during the tv,,
lat months, has been principally devoted 10 the De.
bates and Proceedings Of the Virginia Legislature.
Very few indeed have been the locations when lie
mas wandered from theie iubets 70 interetng to Inc
tate itlef, and Attended the invenigaton az nors
general concerns. The adjournment Of the Leg;l,.
ure will relieve him fron, the troubl, Of attendre
to their proceedings; ard he is ono. more to e,oy
he iatsacfjoa Of Purfaing general aud H. sor
tant reiearches.
i he next paper viii conclude every communications,
which he haste make the proceedings Of he pre-
tent Legislature. The reader will find in that pars-.
a catalogue Of the principal laws winch they have IA
ed; an explanation Of every al, Of ersat public I'M
Portance; and a view OF our finances for terS.lo,t
year. lie viii alio be prefenred with Calierv Of
PORTRAITS, drawn by an unknown hand in the hall IF
the LeElature, and interpreted with Retehes Of lie
principal traits which ought corapos and the prin