The enquirer. [volume] (Richmond, Va.) 1804-1815, 1815-01-05

Il KY 10 unl7ck tie TaH{ts containing Sire
Gle.
Is y not astonishing that the wisdom anal
talents now assembled ia Congress, should Tor
such a length of time be debating and devisine-
ways and means to raise the snnkc:. credit Of
the nation, and have overlooked the prirDa-
~ cause of the disease they want To- cure
The medical tribe understand these things
better. in operating on The body corporeal than
the tribe Of cgis'ators do on the body polite.
When the sons Vt Galen have discovered ~
cause OF prcstraton Of strength in their pa
tent they boldly attack it, and if necessary
with caustc or knife.
There IS scarcely a's'op keeper or shaver
in the u. $. that don't know the cause, and
the remedy that would exit The credit of
Government above ;hat Of any Incorporated
societies Of monied institutions. --Why, then,
is Congress So relax IN its duty Do obey
want to be dictated to on this n,pcrtant sub
jSCt? Or are their places O. 1:lrses 1T va
rance with their feelings E The public good /?
II IS wen known that no circulating paper
mcdipU, issued ON the basis Of Bank Cari
tai Il Ires sury Notes, as is now Under con
eideraf''l IN Cong ,eSs, viii ever answer tie
purpose, or obtain the co3l ience of the pub
is, s. lo0g as me Ire5cut Banking institutions
Throughout the union refuse receiving them
aS deposits or payment In al Towns
where Banks arc established, almost every
individual is more or less Interested in them,
either as Stockholders or debtors. Il is
tacrc-rrc man'test that Nc paper cut such as
tue banks Uil lake, can ever have q iii. ulation
to answer any puhiic uti'jtv.
woald tnerti re, propose q remedy, al
tAoug a desperate one. Congress ought not
10 sE"iak from II. Let them Immediately
pass Bankrupt Law, that viii embrace all
Individuals dad Incorporated societies within
the Union. BY this measure, many of our
present Bnk.ng institutions will fan and
th"T, Let Ctngr IS pass law for establishing
National B.nk. Tie Capital that can h.
saved from those Banks that arc now insol-
vent, viii Fnd lis way into the coffcrs Of the
= .ti0i.4 Bunk. ard Tie fewer state Bank s
taat may exist, after this necessary purgiEg,
SO much Che better Tor the nation besides,
what may rorain will be solvent, & no doubt
VII h2rmoaize III their operations with the
National Bank for tie public good,
1t being contemplated to have upwards q
scvcn-eglHhs at the capital to the u s. Bark
II. Treasury Notes, which is very objection
able and may never sucCeed~-would it not
be better 10 diminish tire nrmber of Treasury
Notes. and 70 authorize the creation OF stock
To- Government TO use IN subscriptions t.
the National and State Banks, the number
OF the latter being diminished by the opera
ZION 81 I've 'DdPtrult Lew, an augmentation
OF capital might be desirable. 1t may be ma
managed thus
Suppose the e. s. Bank to have a Capita
of 30 millions Government ~ have (blarA
shares to tIe amount Of 10 Mons, for which
| they viii pay IN stock at per ccnt.--l5 mil
! lions Treasury Notes to be thrown into The
market, to bC afterwards, with s millions in
| specie, vested in the Bank as part Of its cap
ital, which would make up The entire CAPT
| tai OF 80 millions. Then let Government
create 20 millions more Of 7 per cent. stock
to be laid out in purchasing shares ia In,
! state Banks, without claiming any paftcipa
| ton IN the management Of them
: BY th.s plan t,Ovetanco, mas haze III