The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-02-09

nave not been provided to eXtrca them
selves. When / say the presumption a
gainst the renewal Of the charter has bee,
strong, do not allude so much to the sent
.ment IN this house, as to the solemn decla
ration OF the President of its demonstration
atty
Mr. Macon called Mr. Bur7veR to order
Ior using fhe name IF the President IN de-
bate]
/ Sir, the violation of order has been mad
vertently commit his name vas not used
to produce any effect mere. because | really
am unacquainted with his present opinions
except as infer them from MS speech i'll
VI; Cannot suppose he would use one
! sctof arguments then, and act upon another
now.
Under such circumstances it would be
Criminal IN th, House. to Weld constitution
al objections, and surrender Important con-
| sideranons or policy. to shelter those who
nave shut their eyes 70 the law. The legis
latnre cannot resist with too much firmness
SUCH an appeal; it is placing them AT the
mercy OF a few, and sacrificing the general
good 20 the clamors or folies OF the improvi
dent.
1t has been said that 5000, 900 in shecie
! will be req nred from circulation to meet
the demands of the bank, and that the a
mount cannot be procured in the ". States.
venture TO assert, upon the statement fur
lished by the bank agents, the sum will not
exceed 2,5o0 900 dolls over and above the
specie 10 the vaults of the bank After pay
ing and settling with the community, the
oaIk Will owe to the stockholders 10 400 600
COILS III they retain the specie now in the
vaults, amounting TO 5000 900 dolls the de-
mand upon the Community will be lessened
TO that extent; if it is paid QUE to meet the
return OF their notes IN circulation, it passes
into other banks and will return to them
SO snat III either Case II will constitute a
una % pay the stockholders, and reduce
their demand to 100000; moan this sum
must De deducted 100000 ioll>. the amount
" reai estate belonging to the corporation
2,750000 dolls. loaned to the government.
and about 100000 dolls. in suit leaving a
oaiahce not exceeding $500 900 dols.-
| w III 1t De SAID hat this sum cannot be raj
a I'D country, whose eI-hort If 8hecie tor
me last year, amounted o 5000, 900 dolls !
Will 1t be SAID The sys,em of banks has re-
dueed us to TINS low ebb, and vet we are
caied upon to perpetuate the evii From
'his view OF the subj CT, i appears that the
creditors Oh h. bank will ne compeIled tn
RAISE 800 600 dolls.
N seHtlemen seriously believe that his
sum will ruin The countryl II. sir. We
Juage from he number Of banks sprlnging
| INTO existence IN me different states tn
conclusion is irresistible, that there is d re-
uuhuailCy Oh capltai more than ample to &C
commodate all hs debtors of the bank.-
scarcely single Legislature has separated
"ishou granting charters, You have this
morning, deposited in committee of the
"hoie' me cemetery for the district, i've
oanKs' with an aggI egate capital of three
and an half millions This thing m.e, he
dow" right cheatery, or there is rcdun..
uahcy OF Capital. If it is Fraudulent, the
sooner the delusion is dissipaled the be-.
ter.
snail, tor the present, admit these ap7
PhC"tiohs are evidences of CAPT al and Con-
END they will operate effectually 10 re-
iieVe the Community. But, sir, it will be
'ou"d from the S,atement of the bank a.
gents, the directors have contracted deb,s
nearly or quite equal to the amount due
mem, and hat they will find difficulty IN
meeting he claims agAins, then. h, g..
Claims will naturally be transferred to hose
VINO are indebted, or dep sited IN > ate
banks, where they will constitu e funds uD-
on which accommodation can be extended
he moment you destroy the bank, the
l"teS IL mas issued, to the amount of s 5000,
OOO, Will return; the deposits, amounting
10 nearly eight millions and an half. will
come into the market; these, added TO the
private Capital which can be spared. will
'NPPy VIC nednS OF sustaining the shock.
feel confident, the removal of public
deposits will go far to remedy the evil
ne loan obtained from the bank, and pava-
pie the LIST OF January, will add TO the faci
NY OF satisfying the claims of the bank
Even the funds of the institution itself will
riPidly glide into channels of profit. and
con rioote to the object. Thus, sir, this om
nipo'ent association, whose influence per-
VadeS The continent; whose nod dispenses
protection or ruin, like an angry cloud will
De disarmed by the Conducting bowers as
the safe banks; there Will be n exDlosion
ats substance will be secreted, mizfd Win
lhelr Juices and strengthen the general sys
! tenn. -
In the public discussions upon this subie,t
we have been told The quantity of specie has
been reduced below the actual wants I
trade; and tnat he portion of stock held nv
foreigners will be carried abroad in money.
nose who endeavor to alarm us IN this
way, are ei'her ignorant themselves. or
they calculate largely upon our creduIitv
IT rs, sir, a melancholy fact, that s,,ecie
mas been almost baDished from circuia.irt
by paper, and from the vaults of the bank.
| by expectations abroad, in comme,ce
"nicn does moi replace it IL is euuaIh
trne' that this bank has contributed more
nan any her, to produce this depl,rable
result! But II IS evident the expectation
must be limited M amount, or the import of
specie commensurate, if We do not con;jnue
the present system which threatens us with