Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-11-28

ofoy erloOkIng sonsc subtie inilrance. some
Invisible agent, which Jnav re;su,l or OBJ
struci tue circulation. fNhenyou aoproac!,
q nation : currency, You approach q ma
tons credit; bu, ration's credit is the
credit OF every man ~ this community. -,
This credit Is one OF those subtle tl,..sls,
which dc'les yo.r analysis. Place il in
the crucibic, and Il cyaporates. Rv chill
ling blast, like the la-v o. your last ieyi>ia-
ture, you may cOndsnSe it; then. Vuir
agriculture, your navigation. your manu-
features, will Immediately anguish by
the application of excessive heat. voumav
expand it; it will burst your re;ort, and
blow Your laboratory 10 ruins.-These arc
the subtle materials on whose operation
you arc this day calledon 10 decAe-And
how are Won to decide! Does tie hisle-
rio page furnish any light? Does cxpe-
rience guide your track? Does the histo-
~ of nations furnish any parallel case,
whore a banking institution, which has vo-
unfairly suspended IFS payments, has vo-
UNFAIRLY resumed them? Does il furnish
any illustration of the effect OF anattempt
TO compelthcm by force, or even of the eff
feet of voluntary resumption? What
are we, then, called upon to do? To de-
eide al these questions, without any light
from the wisdom of other times or OF our
own. Let us, then, be cautious-what
weare to do here, is to affect every man
living in the communicated only them,
this land.l Formyself, (said Mr. t. con-
fess | am called in to a sickIy patient,
whose case do not understand-Some
gentlemen say, he is laboring under the
disease of debllity-stlniulate him (they
say)-others, avow that il is the disease
of excessive health, and tllatyou must de-
plete-But, for my own part, | am dispo-
sed TO prescribe, as other physicians do
in similar cases and administer an ano-
dyne-Lest, perchance, he may die of the
doctor. Ii these banks have really any
stamina in their constitutions thew NAV
recover. Ofthemselves, * return TO the en-
joyment of heath-but, Sir, beware how
you pour arsenick down their throat.
He fully concurred with the gentleman
from Hcnrico (Mr Hay)-he would vii
lIngly leave it to those who understood
their situation better than himsclf-he
would make it their interest to paw, but
he would not fix on any particular day in
the Calendar neither the 10th of JanuaA
rv, nor the Goth of February, nor the 10th
of July. He would leave it to those who,
are hereafter to conduct these institutions
to their discretion he would confide the
selection, while lie would make il their
interest TO decide wisely. He was as
stronS.an advocate of the substitute of
the gentleman from I!enrico, as he was
an opponent of the amendment of the
gentleman from Loudoun.
But before he would proceed to the
details of the question: he would make
one general remark4Why do not the
RonLS .,f mo T..
any statute of this land. which COM
mands them not to pay? There is no in
hlbition on the banks TO pay; none upon
any individual, to apply for payment. If
You have bank note inyour pocket, the
courts are Just as open for YOU to seek
payment, as if you had the notes of All
individual. Irepcat the question then
(sald Mr.. T.) for the answer is decisive.
Why have not the individuals the incIi-
nation, or having the inclination, why do
they mot exercise their power TO compel
the Banks to pay their notes? One OF
three answers must be given: either the
community believe the notes TO be as
good as specie, and therefore do not wish
to apply for it; or they have no inclnati-
on TO obtain the specie, or having the in
clinaton, are afraid OF incurring odium.
i'll exacting that which it would be obi
Gus 20 exact; or because, the law gives
them inadequate means to exact. or the
Bank possesses the inadequate means TO
pay. One, or al these cases combined.
must produce the effect Which then
isit! Mr.. L. said, he cared not which
whether 1t were one or all, tie purpose
of his argument was equally answered.
II equally served to demonstrate the i'm
propriety of selecting particular dav
for the resumption of specie PAYMENTS
Ii the reason be, the prevalence of a com
mon belief, that bank note is eauiva-
lent TO Specie; Is it wise in us 10 con-
vince the community of their error? Is
II wise TO make any experiment, that is
at this time calculated 10 undeceive the
people! 1.-THE experiment be success
full, you only bring them back to The
very point at which they are now repo-
sing; lit be unsuccessful, YOU sink so
much of the money of yonr constituents.
hold itas wise (said Mr. To to make cx-
periments of this description, as il would
be TO throw temptations in the way of
your wife TO try her chastity tic re-
suit be fortunate one, we will only
be as happy as we are and if otherwise,
we. but render ourselves miserable
(But take the other superstition; sup
pose that the individual is indisposed TO
seek his remedy; because ne conceives it
TO be odious TO enforce his payment. -
Recollect, sir (said Mr.. To | do not say,
that such odium does exist; God forbid
that IN this society of laws. it should be