The enquirer. [volume] (Richmond, Va.) 1804-1815, 1815-07-05

ny secondary causes. In ordinary transac-
tons OF purchase, when paper under partial
discredt is to be the medium of purchase, the
seller either exacts a discount or he tonceals
the exaction, under an addition to the price of
his commodity. Where the discount is eX-
acted, say ct or S per cent, the dollar be-
comes then actually so much reduced in val
ne to the holder,
This general but variable depreciation, o.
perates differently IN local and remote posi-
tons and is further affected 10y general o1sis-
fon concerning money that is to say, that
money truly must have AN intrinsic value, as
weli as q value OF denomination and that
when money is named. SKuer or gold must
be understood to be in deposit, subj ct 10 be
taken up BY paper, which only represents it !:
and that without this deposit there is 10 secu-
riey, or at least precarlous or remote secu-
rity which operates also in proportion u
the degree of doubt, as discredit or dsp"e-
CATION OF the current paper money.
We have seen, during the war, how the
puoic credit was affected by operations on
the circulating currently. There can be no
dsnof mt die cs1en3y. 6y as agents III the
eastern states, c1Hducted thc8e otleTdtions an
on the ,JSnQHceS and fhe credit CftAe ctustry !:
and Is fh0Se Cf5eTGtionS, Conducted GV ifs
ogvn agents, (Which earl Ba,huyst refrred 10
IN his Sfeeoh IN fhe Eaeish ferioment--he
ofIteored TO BE- ignorant from the manner II
his stafenisnt-tut he gcas 7qi3leI IN the cha
'ucter of The ohcrations, ard cniy echoed The
ref'ort 81 the eniSSaTies ofthe Enghsa cabinet
in Boston
What is now obi -cted to BY tire v'retched
ana profligate writer of the Commercial Ad-
vertiserf Simply this. The United States
treasury department. determined to place the
public credit upon soil aud rational foun,ia-
tons 4; to secure the public against the arti-
fices OF spectators and dealers in fraud--de-
ciares. that OH given day--
The schemes Of 5Lunder and hanfcide b.
79hfch the national credH has suffered dl.rtt7g
the zoa', shall be no longer suffered 7yih in
fu'nty
.4ffer a given day those i,,stit,tti97,a zvhsch
conduct their transactions zvith fcjraess ond
JNSttce-dnd 7gkich hGUe nor -otaerateG zvifi
me enemy IN destroying the f,ubhc credt,
ShuH 6e. Gtoced on the same .f32,ing grikh tie
national treasury
Every bank which pays solid money for its
notes-
Every bank which receives the pledges of
the government, in payment or deposit
The paper of every such bank will he re-
ceived after the first day of August next, in
discharge OF the claims of the government.
But it there shall be any bank az that pc
Rod, which at the same time does NOT tag Us
o7o notes in gold ard SILVER, DIT nags 7vith
us oTuH ild5ieT on The 0thc7 banks, instead Of
god and SRuer-and at the same time refu-
Ses 70 take PAPER Of the government in the
sam" manner as 1T issues its own paper then
the paper OF such bank will not be aud should
not be received by the government.
Ii his is the actual state ct the case this
is the SoHnd and u1aSsaiio5is ffrincitle If the
Fe9SIry-it is thus that puSlc credit can be
maintained, and thus the homer and the inter
ests CT the nation are best served. Principles
as far, open and Just as these, become more
admired the more they are assailtd.
+7yflocriay and Uil(ai1y viii assail this mea-
sure III vain every attack upon it carries
oack upon the assailant isnominy. and assures
the infallible contempt Of every man OF un-
Outstanding and probity.