Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-08-14
A LOWLANDER.
BANKS.


BANKS.
The decision of the Coruenfiort of the
Sua&' of New York, Philad,lph & Bal
timore IS at ienSth announced; thnt it BE-
recommended to the State banks TO resume
sherie Payments on fhe Isl Of July-AND
NOT SOONER. That day is fixed on, no
doubt because it is period when the last
n9tGirfen: Of the u. s. Bank falls Gue-on
this principle that the U. S. Bank ought
not to make its means out o. the State
banks--but, that it ought 10 lock elsewhere
for the;n.--( Fortunately. specie is lower in
England than it has bcen-silver, S per
cent 6eloz, har-and Doublcors, Sex
change about or above par.1
The Treasury prop osi;ion, therefore.
falls to the ground. The s. notes will not
be paid by the Ist October the state
notes will still be receivable in taxes.
Specie, which has been down as low rs 5
per cent. viii necessarily rise, unless by
considerable importations from abroad, we
obtain specie to pay up the "a instalneDt
OF the u. 5. Bank. The higher it is here,
the better--because there will be "A greater
inducement to import 1.-THE Treasury
Nouce. being Calculated 10 keepit down, so
far operated injuriousiy.
now 70 change their resolution from the
goth FEB. to the 1st of July-and then t.
make it imperative. 1.-THE banks 81 o7stc
fail in the pledge SO sAlcmnly given, ali
confidence in them viii b. lost--the pub-
lie voice will sanction any consttut icna,
means for coerc.ng a compliance with their
engagements.
But while the other State BANKS are thus
weathcring the storm, ought our Banks to
BIZ laid bare TO its attacks, While they sus
pend payment till LIST July. ought we to be
compelled to resume payment, on the 18th
November.
Must we be stript of the specie we have
on hand, u see it poured into other State
Tanks ?--Or what is a stll stronger case,
shall We be stript of il 10 fiji the Golfers Of
the National Bank
Shall We not, ia this respect, be placed
on the sumo footing, with ether State
Banks1
What is the Resource LIT the Exec
utive discharge heir duty. Convene the
Legislature for The first of November
To the Members it can produce very lit
tie inconsen;ence-The Will come month
sooner and vii go away month earlier.
But to the BANKS ard the State at large,
what difference may it not rialcf
1t they should attempt to pay specie on
| the 18th of November, it will be but for
few days-and they viii soon be compel-.
| led to stop. with less cash on hand, and
may sustain a blow, from which they may
not recover-and with them wi / suffer the
| State, inthe proportion Of the stock which
| it owns in these institutions.
| But, if they should nor pttempt it il
they should evade the lar Of the land il
| they should fly i'll the face of the oDo7ved
f, 7pW'of the Legislature, then to what drplu-
| rable streights will be drivcn--'rhe I.egis-
lative will dcspised /; a specific and positive
| law OF the land trodden under foot al the
| discretion of two monied corp, ratiums. -
! This is the alternative to Which they NAV
| be brought-Either to run the risk OF
| bank rGptcy, or to violate the only rule,
| which Is the sheet~auchor Of publ ;
! the avowed will of the representatives Of
| the people--and what adds d de, per hue
TO the matter, to lend tn: sanction OF their
example 20 those unlicensed institutions
| which have sprung up in the Western sec
ton of the State.
Another appeal is now made to the wis-
dom OF the Executive. viii they not per-
! INT the Legislature to review a case, whose
| circumstances have changed so n.uch p
ONCE the last deCislOn OF ne Executive it.
self, what mat-risl move On the chess
board The Conyention OF Banks have
changed the whole aspec; Of the subject
from those 3 .uks, We are not 70 expect
concert. but collision. VIII the executive
then refuse To- act?
Caracas accounts 70 July 10h give vs.
bad pews--ihat Bolivar has done no.
thing decisive--that whilst it was 50
important TO take time By re forelock he
has suffered two precious uonhs to waste
away that even tie small, town Of Cara
PIANO. which he had 'akcn. was abanG ,ned
By his main army Oh the niglR OF the 2yth
OF Juns, IN consequence Of tile appro1ch Of
the small royat squadron from Cunana--
Ho set sail" says the Caracas Gazete.
leaving in CarUpano one honlrcd wfetrh-
Is, commanded by F.e.hman named
Hr.zcl"