Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-03-27

ceive that this Debt and IT'S companion.pa-
per money, are actually taking away one
man property and giving it 10 mother
on VIII perceive, that "a system of Daner
money, emanating from 4 governu, eft. or.
at all dependent on, or connected will q
government, if that system be carrieJ IN
such length as tn supercede the usa of
real money, does, in fact, place every a.r's
Propertyin the hands OF that system and.
you VIII perceive, that this raay happ n.
100, as 1t hashere, without any desien on
tne part CT either governments cr kanks.
AND, II you do perceive this, let the ex-
ample be warning to you.
in TINS country, exclusive of ireland
there are about thousand coxnf,,, bo,,to'
which ali issue notes of their own. T',ltof
late, the holder of these, could dema.d
payment ~ real money, tho he could not
dem"nd 1t OF the Bank Of England. In 1911
or 1917 a law was pass d To enable the
country banks to refuse Payment in real
money, and to tender payment in Ba,k of
England notes. 1t was about this time
that the system appears to have received
that serious blow, which has finally led 10
the present state of things.
IL is qui'e clear, that the Country banke
"a be able 10 pour out their paper freely
mus: nave prop, direct or Indirect. from,
''S Ne'''A oi Englano, III whose notes their
own are payable. And it is equaliy lear
end' III proportion as this prop is strong or
weak, the Country banks viii en.arge ~,
narrow Their issues. From WHIT r,,o,;,'
or in what way these props have Lee,'
weakened, know not: but it is certa,,
that the issu' s of the Country banks have
D en- diminished in an astonishing deptee
nus che quantity of the Circulating medi
um, having been diminished, nrices bn7,e
Jauen 81 course and having fallen ons
nan, the taxes, though still the same in ma
m'nal amount, have, III effect, been oo,l-
6led, and the Judge, or Placeman. or SOL
der, who, three or four years apo. had q
salary OF Certain amount, now does. in
reahty, receive the double of tina, a.
mount.
WILL run the risk of wearyine vou with
repetition. rather than leave any part of
the subject impe,fectly explained, as far as
my power OF explaining goes. And there-
Iore' WIN again cal your attention to the
manner I'm which this revolution in Droner-
ty Is effected, by the means of a nappr mo
ney system. Suppose Community n
consist OF three men, who buy Of ard s.u
to each other al the artic.es li,,l they
vera!ly stand in need of; and supnose the
whoie quantity OF money possessed by the
three to be zoos. BY some accident no
matter what, all at once, another hundred
shlihnSS are put into their hands. It j.
manifest, that, as the uum6er of purchases
and the quantity of articles would conf.
nue. the same, the Price Of each must be
doubted seeing, that ali the 200 si,iilnps
would now be used Instead of / 90 shilinps:
Tor. as was observed before, The whole of
q community never can hoard. Ike a
converse OF this. Reduce the 100 shilngs
10 oO-and' the Consequence is, the price
OF every article rs reduced one haf. Ne,4
thef OF fheae Changes would produce any
distress or inconvenience in this little COM
mnn'ty, provided that no one Of the three
were IN debt 60 either of the other, and
provided, that TO the dition and diminu--
ton OF the number of shilings, each Jared
IKE ms ne'gh6or- But, surprising chem to
De II, Is, and 4, and that in the fofSsar
case, at the time when the addition%
quantity or shilings came, A owed h 2oN
shilings, would he not pay him that 20 *
keep another 20 to himself that he ought
to pay him Would not 3 lose, in fact.
one half OF the debt due to him Aod in
the other case, suppose, at the moment OF
the reduction OF tic number Of shi.lines To
50, a and Is owe c, each of them 20 shil-
hogs and he demands payment, are they
not ooth bankrup.s, having, instead OF 23s.
~. Cb,o hiy Los. Al. each
MS last is our case now. The owners
OF the FUNDS, the Royal Family, the Army.
the Judges, the Police Justices, the Nav
all the Plocemen. Pensioners, all the Com
missioners, Taxing Officers, Clerks, &c.
have demand upon the people at large,
for Certain fixed sum annually call it
70 Millions
But no matter what, it is a fred sum.
Ii one half of the money, no matter by
what means, is taken cut Of circulation. ia
1t not q ar, that the people at large are
reduced to the s tuation of A and b in the
case last Supposed as above ? The case Of
whole people is, indeed, little more
complicated bat, in the principle
and in effect, it sprecisely the sane.
AS far as the direct taxes PC, and for
the present year, all is perfectly simple -
II IS manifest, that A and p, Who are the
people at large, pay the double of what
they paid before. But this cannot he the
case long For instance, AS TO the proper
~ tax a pays as landlord lOk upon rent
Of 1901 But his tenant cannot, or will not.
III future, pay him more than SOL &. per-
haps, not more than Sol. Consequently. A
WI pay to the government only 81. where
he paid 10l. before. Thus. FROM Is mll-
lions year, the property tax would FIJI t.
about 5 millions. In the assessed taxes.
that is, the taxes upon horses, windows,
carriag's, houses, dogs, servants, &c.
pr0port.Qoate reduction vii, of nece ssitv.
take place The iocouie. ae;r- 70 .s,t,. 4