Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-01-06
F0R TIE ENQOIRER.
o. 4e USE and lDUsE Of alrxg

o. re USE and ABUSE Of 3ANtIS
When man sets up as merchant ia a civ ike
Richmond, in the wholesale, il is necessary that he
should have the command of from fifty thousand
dollars to hundred thOusandsnd in the retail i,
should have the command OF from five thousand
dollars to twenty. A Bank nay, accordingly. lend
such OF money in psper. to any IIerson in
whom confidence may be placed, when he has inc
value ia his hands lftbere existed 90 Bank no
man who was not extremely wealthy cnuid bsenro.
n merchant, and without Banks, ther, fore. an ON.
pressiye aristoeracy of merchants would gradually
form IN America ike those along the Medi,erra-
mean Sen and Indian Ocean, where there, are m
Banks and this slistrocralica order, would consist
ct strangers like Che Scotch, during The royal govern
ment in Virginia. Before the lie, ol,N.On, Virginia
had TO Banks, and she had plenty Of foreign iner-
chants Put down our Banks, and the same order
# tiiHgs would again prevail. In the brlsent
state OF things, while Richmond s the emporium Of
50 much business, and the merchants having 50 little
capital, il no Banks existed, planter would have 10
wait days, or weeks, or months, before he could
cell hg produce and receive the Valne for it. Be-
Sides Tobacco, inst m Of fetching fteen tuety god
thirty doilM', world hardly fefch hslfthe money
Wheat would be much lover, and imported ipsr.
chsnize would rise fifty per cent I canpnt wish ,o
crush The Banks ~ seueral, ia order t. realize 50
ouch mischief. I'm entirely opposed 10 the Ses-
truetiOn " Banks, since lat would he as occasion Of
forming sfistoeracy Of opulent rnerchsots n rails.
Ing the price Of eycry thing brought % US from A.
broad aud or1 the other Stat 81 and OF reducing the
price OF every thing sell from 6Gtcen u sity per
c6ut.
Bot Banks onght never 20 lend money for any
purpose bat those Oh trade Perhaps every mef-
e'snt ought tu have credit rev y rce0tabie note
given FOR articles b-9ah, los the evident purpose OF
being sold again. Of 90 DAYS, and think every such
uotc ought 10 be renewable % days. on the uierch-
ant giving Satisfactory evidence, that tie articles
we're not sold. Bat beyond that, do not believe
Bank sught to receive negotiable notes on account
OF tie same purchase.
Farmer or any other person, lavug bought q
drove hogs. hOre', sheep any thing wich isti
be prned INTO money in few weeks or months,
ought. no dosb % have the sasle privilege. "a die
Bank so ought brick-makcr, sip-cmpett,g iaaq.
ier-buAdcr, SC. sc. ~ fact, very person eur cod
IN business fhet qiires h. usc Ola large sua 81
money o at,v weeks OF f-w months, ought %
hsye credit az the y Ms This, The general inter.
est . society imVtroualy demaads And rs 10 tree.
holders, illand was sble 60 pag mans ilst iebls
EFT recorded tfaossettnsto be considered as reco-
ded Only from ihc Day tiny we're catered on the
! County Clerks Book assn thc other Ststcs s. hase
nobeari'g back d cst monihs. planters woud hay,
/ credit az The Banks Of well a8 merchants. Butn
lie msin property Of raater w. LOT iiohsq q sa,
isdehf; d .apsrs coded within eight month
be permitted a. htr- ihat titae of bearing back
what Bs.S eg-r Vdl lend Ioali to piaatei