Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-11-30

thursday, lNOreWOcT -.
The Speaker handed in report from !
the Commissioners of the Sinking Fund
-as we'll as the Treasury accounts
which were read-and with the accom-
panying Documents, ordered to be prin-
ted.
Various Reports and bills were pre-
sented by the Chairman of several Com
mittees-As also several petitions by in
dividual members--mOst of which were
not acted on--and those which were, are
not of general interest.
Engrossed bills" Changing the time
of holding courts in the county of Ches-
terfield"-" Changing the time of hol-
ding courts in the county of Madison
Concerning William Heiskill' =" To
authorize the corporation court of Win
chester to regulate the market days to be
held therein"-Were severally read Sd
time, and passed.
Several bills passed their ID. Stage.
AT IL O'Clock, the order of the day was
call up-and the House went into Com
mittee on the Saspensiou Bill.
Some discussion ensued on a motion of
hlr. Mercer (of L. for leave to withdraw
the amendment he had offered Yesterday
he had but offered it to accommodate
the gentleman from Norfolk (Mr. Taze-
w il}-he wished to Withdraw it, because
such course would simplify the dis
cussion, and besides, the statement
| contained IN that amendment was
somewhat defective, not corresponding
exactly with the resolution to which it
refers adopted by Congress.-After a
short argument, all oppo sition to this mo-
ton ceased, and the paper was with
drawn.-Ihe question then required,
would the Committee adopt Mr.. Hays
substitute 10 the bill reported by the Sc
lect Committce2
Before ne proceed, ne ore 1t to the Spea-
kers and ou,seiues to say, Mat when zoe drsw
our sketch of Mr.. TdseweUs speech, tce had
no idea that the Debate ,comld be dram out
to suck iength-'rc made that sketch there
fore, somewhat copiouS, & are nor comm piled,
that 'ce may keep up ruth the proceedings ofthe
House, 10 condcnse tie subjects, by seizil,g'
only some Of the general points of each Spea-
hers oddress-We hare materials on hand
tofU several Coiiuars--Ju. ace arr compelled
most reluctantiy, By the claims Of othe,. sub
jectS, to compress these materials into q small
compass.
Mr.. Tucker had net determined to
speak on the question, until Yesterday,
bnt when he saw so much ingenuity and
ability employed on the wrong side of
the question, he could not resist the i'm
pulse. He would attempt with little
common sense to answer the able g. bril-
liant argument which was yesterday adj
vanced, though his observations might
not be embellished with the decorations of
fancy and of rhetoric
The gentleman from Norfolk thinks
that something ought to be done-to sti-
mulate the Banks TO restore the circula-
ting medium to its former healthy conditi-
on-The only difference is as to the mode.
The proposition of that gentleman a.
mounts to ,nothing-his own argument
proves 1.-THE suggests that the orphan
and the widow may obtain relief, by ha-
wing their bills discounted to the amount
oftheir dividend. Now if this be the fact,
have they not as great an interest in re-
ceiving as i'll paying? All the interest
which they pay for the loans, but goes
into the fund of dividend. They paw it
one day in the shape of interest, on ano-
Their they are repaid in the shape ola
dividend. This operation could notilave es-
cape the luminous mind of that gentle
man, though it had been said, out of the
House, that he was only throwing OUT a
tub to the whale-looking one way, and
rowing another. 1t is like taking money
from one hand to pay into the other.
Ills proposition then to stimulate the
banks by suspension ofall dividends,
IS utterly nugatory. There is not sha-
dow OF stimulus in it-not one drop of
paragoric in the whole composition.
The gentleman says, there is not one
petition from the people on your tables
I that public sentiment does not complain
OF the suspension of specie payments.
Now, what is the history of this business?
Before the last winter, public sentiment
loudly called upon you to bring back
these great coporations to specie paw
ments. Something was accordingly done;
law was passed, the people supposed it
would be obeyed.-But why talk of peti-
tlons! Waere is there one petition for
the repeal Of this law?
y A word as TO the importance of this
question.-lts Importance is admitted
but is it so important as that gentleman
has represented! Pass whatever law YOU
can, you cannot affect the solvency of
the banks. There is no law before YOU
to determine what shall be the value of
five or six millions Of property. 1t is not
in your power to affect it. Pass Whale
yer regulations you please, if the Direc-
tors are prudent men, their institutions
will be solvent. r,what is the operati-
on? For all the notes they issue, they
receive specie, or the notes of responsible
persons. Draw out all their specie to-
morrow, their paper would not depreci-
ate 10 per cent. All that they would
have to do,when is depreciated,i is to call
IN little more from their customers; and
this would Immediately appreciate the
value of their paper.-This question is
indeed important i'll two respects, in
81.