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

active useios IS 0illiops, on very os.vanta5c.
GUS 4, rsns, tof- the interest received in d,3'
dentis from the !sanSs for the sttsres they
/ hold in the,n, win nearly cqualize that the,
have 70 pay Oh the seven per cent. stock.
Che Treasury Notes may be ,hIrs mana
gcd Let ; or S millions be made payabie
II the end of every two years /: and should
Government I've unable to pay the amount
then due, let it be converted into per cent.
stock, ,rdeer ,ble at pleasure by the com
missioners OF the Sinking FunC. " which
means the Treasury Notes will grasblaliy be
drawn from circulation. Itmay be observed.
that the Interest on this stool. will not be
more than what Bankers mike BY ordinar.
discount, renewable every CO DAYS. WHICH
amo.nts tn about per cent. IL would, therc-
fore be unreasonable 70 STOCK the Treasury
NuteS on lower terms, the Bankers having in
the Ii; s. instance, t. ken them for the accom-
mediation ct Government. BY the above plan,
Governments Can have loans from the Banks
'or 90 millions, and the sale ct Is millions OF
Ere :sg;'y Notes, would make SUN ct So
millions, which would be sufficient 20 meet
their present wants, and put their credit on
respectable footing. The, viii also be own
crs OF DC millions Bank shares. which, in case
OF need, VIII be much more saleablc com
modify than Treasury Not,s or Stock.
iopresent runs on tue Rauls FOR specie, or
Country, would suggest the idea - new coin
2sc. Inns might tie done by authorship tie
Mint 20 recon for the Barks, all the specie
they now possess, into such pieces rs viii not
answer scr the currency vt any f0reign mar
X II may be effected in the following
manner, viz 4 mixture of ore-ll:id gold,
and two thirds silver or take the rates OF 8
eagl"s and sixty dollars melted down and
struck into 90 pieces of 100 cents each, and
another description of IS and S2l pieces,
half gold and half Silver say eagles aud
50 dollars melted down AID struck into II
pieces Of SEQ cents each, on 81 pieces of ESQ
cents each. These pieces may be dcnomina-
ted, Com for domestic Circulation, and ought
to be legal tender every where. lt is sup
posed that there are plenty of tho smaller
pieces OF silver i'll circulation 10 answer the
purpose ofchangc. The feasibility of the IL
bove project must be apparent when that
powerful engine, the Bankrupt Law, is appli-
cd 20 the locks of che vaults, containing spe-
Gle it mnst come forth or utter ruin viii I'll
low TO those Banks who hold it. A Bankrupt
law may nc a terrying object to the Banker
who Is trading an ideal capital. To the
rich merchant, who has recorded in his lcdg-
er many doubtful and desperate debts. To
the shGper, who has brought to ruin and beg
gary many honest and respectable families,
but to the nation, it viii be Of salutsl-y use
Indeed 10 commercial nation ough. to &c with
out permanent Bankrupt Law. 1t is the
only mode o regulating the trade of a coun-
try vixen it is over done. BY topping off the
redundancy OF traders, it enables the remain
der to make reasonable profit and TO con-
tinuc IN a state of soiveDCy. 1t viii break
up that aristCcracy, that is row undcrni-
ming the republic in the shape of priviledged
societies Of monied interests.