Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-05-22


| The second Testament of the subscriptions to Tn
Bank Oft the e. States. III be pa, able IN Januar'
| Is there any good reason why the Bank 81 tirSna
should iurn 81 he specie for that iaStament Is .
better that the subscribers shonld be iorc~d &
lra~ il iron abroad, OF from the cof-rs OF thos.
1 who have boarded il at home {! Such Hanks as
s'',il not have made their notes rs valuable, on
! the GOT, of February, rs Treasury bulls, ar the
| notes OF the u. States Bank, usust. from the 'n-
mense smolnt al revenue, IN a great uSsr~e, i'ise
their crc, VIII that consul, ration not furnish y
mniv" Sufficient for thus institutions. which e not
already in state Of ties peraton, toput the nseives
ia the hes situation prac,icSbie Ii the State Hanks
have tlat induce nent place their notes IN loo =
| iag with those of the Natona Back at a stated pc
/ riod, why them to harrass their custom RS
for "a premature resumption Of specie payments, to
tie benefit o.ly o. ths subscribers to the Nationa.
| Bank
These remarks do not prcceedi from any hostility
to that gank As the law COR its establishment has
passed, wish il success but il has advantages
nough over the Banss of Virginia, without useless
sacrifices on the part of the later.
Although it is, in my belief, impotc thus 20
hasten specie pay ments " the Banks at Virginia,
the public sonli not be uader the dcuSon of altii
buting the iecli:,e il the value of the products OF
| the country ercllSi7eLy 10 the curtaments OF bank
accommodation. e. ar'ce ofarticles, domestic as
wei, rs foreign must r. oIlated by the ,lemavi
aud supply. One oil the advantages of Banking in
sutu' IONS is the competitions they create between
tie many sr0a Dealers ard the few great capital
lists, by which the highest prices that distant
KITS will afford are given Tor the pr duets of tie
cou ltry. Whenever. Ills competition is cari'ied be-
yond proper hounds, from the great facility of
obtaining loans, the consequences OF losing trade
wili recoii @n The country at large. Were the
banks then t. grant all the accommodation that
might b. applied tor, the only effect would be to.
reduce the value OF their notes and encourage
the widest spCculatons Of needless advent,re S.
The pnalic would derive no real and permaneHt be-
nefit from sech
WAat then ought to be done /? is THE CUES
TON. Uner existing circumstances, the banks
must he prepared, at any saci'ifcc the pa { of
their customers, fur TIC payment of spese o. the
5th ot Noveui5 r ; but, irthere prosp- ct of
n suspension or repeal of the law OF the last AS
sembiv, they might safely reduce the Gale Of their
curtsil'nrnts and perhaps grant new discounts, 10
n limited extent, because they would have more
time I, convert their public stock and foreign debt
iito their own notes As the commonwealth IS
mot deeply concerned in the prosperity Of the
| banks, as the amount of their notes in circnlato
was considerably increased by losns the State rs
circumstances have been changed by the fthc
last Congress, as the banks must have regard 10
their OWE credit, h0De hesitation IN EMPRESS
ing my coniietion of.he fropiety ofconUe'iing tie
Legislature fifteen or tryestU d1gs earlier than the
usual time, for the purpose of examining into the
situation OF the banks. and comparing il with that
Of the Tasty year. There raj able and prao-
teal in that body, who coulh Judge whether the
directors have performed their duty to their custo-
the can be no doubt Of the policy OF leaving the
banks 10 manage their aifirs in their own wav,
instead of compelling them to open their vaults at
the momert that mammoth bank is yawning for
the contents We. have enlightened Governor
and pst lotto Council. who would readily adopt any
me assure for the welfare OF the State but as h.
enforcing law was passed by large majority ofthe
last Assembly, is respectfully suggested to those
members ofthe approaching Legislature, who are
IN iayoar Of suspendinp the operation of that law,
provided the banks shall have done their duty, we-
\ Their it woaid not be proper for them to Indicate
their wises to the Executive. BIZ this course the
sentiments THE ngjority might be sufficiently un-
deTstosd. 7cifho,f TIE Inconvenience of an inter-
mediate session, and the banks, dnfcibafi7is the
| event, 7VouLd act -2CCOHDLN'GLY.
A PLANTER.
| The tide which 81 long set towards The East, is
| now "hbns to the 'Sonth. The frst returning
1 REACHED us on Saturday. On that day tie Far
mers' Bank Of Virginia received Si50,O0O in spe
| Gle from the banks of Boson--n exchange, II is
! presumed, fordrafts that town. The spectacle
was as pleasing, as It i, new, to
II ean7et be a long time, before the wheel Of cir
cuistion will resume its regular play. 1t vas derang
ed by the war--and commercs must restore it The
balance Of trade, which was then against the South
IA now shifting. There sa lever, in the rcn staple
OF eur tobacco. which will enable US to com nand
the market Of the East.
lis true, that other causes have hitherto more
stre7uousiy al cted the Massachu etts ISanks-tbe
drain OF he lna trade has been active and incssant
Yet whatever be the GAUSS the effects have. been
visible in the ,ain Of their ssrcir In January last
THEN stock OF specie had dwindl- d from to less
than millions oftoliars.
The demand Of the Southern market is adding to
| their ernbarrassnents-an, there are even some
persons who guess that they NAV be compelled 70
stop paymentin tie very teeth Of ter charters
All their tauats, and ther vauuts 20 the contrary
notwithstanding.
Bn' TINS temporary moving OF the specie, cannot
give permanent relief 10 the general whe 4 of cirot-
is''on II IS but as the shifting Of the sand from one
river bank 10 another.--Now, It may parody the
words of Alan Smith, ii is not the s.itine or the
waterfr 1ne pond TO another in the same coun
try but ii is bringing it from foreign pond TO oar
the discovery OF new springs of water in the bowels
Of our own earth, it is rather too uncertain to pro-
mise much relief.
Ihe Instruction Of slaves in Bar5aGoes il dis.
Tessng to every generous heart-butis il possible
To i!rSet. that the butchered planters are only the
--ns OF thoe uistortunes, which their country.
mon would have brought upoal us 3-ft wss thsv
who woo'd have taught slaves rebel, TO des ri
and to massacre their masters--it was they uho
wove them nto regiments landed them sj1n onr
shores, sud taught them to lure away their fellows
= he q itsh nation ought have recollecfed thar
me Gay Of visitation might come upon thern-wheD
the dagger which they pointed at tiroats, might
be aimed at their own.
FOR THE ENQUIRER.
= The following is nc.o prgjst-in all whose