Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-05-04

The Baaks Of Massachusetts have never stoppe
pay mcub IA specie az FIR rs know, and their vaults
have plenty oGguld and silver. have very consi.
deiaOie uO,Ots whether Il ever good policy Tor
any bsnk to stop payments, and to the Justice Of
IT. 1t II were not Tor the difference feel Tor the O.
pnion Ut others, siorld consider bank charters
Nt al wed banks 10 stop payments in specie, no
'hns bh' incorporated boii of Swinjlers. ibcleve
t'al tie people are becoming SD much improved in
Tier 'is~s oi moral hon'st and policy that here
alter there Ill 5e objection To iucoi porate any
,'nhs toeNsi While the, pay specie, and ta, harl-
" an, WI b, c"rporst,d wiiOut beng placed un-
ger ohiN'o to pay specie, ON penalty of fOrIsting
their ch ricr.
Mr.. Elitor. my plan then IS 70 nr-Si,. The ,,ath
81 'rnii, * no les.v- And long as See va .ns;ru-
ment OF PAPER with prou,se il, 10 pay it, a.
m 'unt on demand, AMI the party concerned f.h N
90 IT. SHALL think they out Of the path oi truth
aud honesty,
Secondly. would repeal those laws tat lini,
i,te''St TO s'N per cent ,list money m,l, como Ia
abundance TO tae -tste aad
init'l'T, in 0rrer thst the widow, orphan and
man "i strict scrhcih uIigit Lave IS much interest
as me sharpe; and lli,t might borrow as cheaplv
rs any ono" people, would alter the laws 50 iar
~ 10 max" - IS easy 20 collect rloncy IA Yirgni.
@ndas impossible for TIE debtor n ejude paving
"ha' ne "we''. AZ IN any state i'i the Union. Then
Will the sun o. Nirsni, arise and the sta,e will adj
vance N character iOr prompt payments, indLstiy
pro7pcrIiJ, virtue and hannn"es
Moneyis hardly worth 1--WE n-rccnt in Epro,r
and perhaps hardly wor,h SIX ~ the Ncw-EacIsnd
9'Nes; there arr tlou-ands OF people that look
anNlonsiy Tor chance 20 pat opt their money At a.
ny ta'ng ike eight Or ten pr cent interest and the
payment guaranteed by IA 1ted property at the time
promised, and any time aft -i'w n; by The cret!ters
g'NlhS six mont,s n8ti,e wi. hon, llrther dIay e1
pens or litigation. But We can never hone IN Dor
row on r. asonable terms on that money will freely
an" nou"ant'y come amongus, Wilde ihe p,vment
IS o'y guaranteed by laws that admit Of t.dors
ne
Ppiui'n y 81 es the same real estate may have
peen ncnm6erci Months before, though not re-
corded; or years before aud rccorip1 in some dis
ta"t county. anf tn lerd'r th'is deceived
'V'HS ri distance might think Virginia is i'm
ro'e'shsd- This however ISIS great mistake As
q proof co slider the common interest in Richm nd
upon n'pn'N fOnr and five per cent. month, and
!e' "a" are lew, very f,,w failures Let the bank
ing companies he compelled TO paw specie make
JAWS % pnn 81 treeboOters, an account of whom
was published IN the enquirer Of 7th ult let every
person lend his money to the highest bidder, =Id
our laws MAKE Il easy to collect debts and OR aD-
prosperity
TITS supposed by the writer's ia lat Enquirer,
that the law forcing the banks to paw sp,cip, must
produce general embarrassment 10 commerce. and
cause general fall IN the price Of produce, and
tney would have the Legislature convened 70 repeal
the law. There three classes ofIneu that VIII
be embarrassed. First, those shaycrs who borrow
" '''''S ~ une banks 'or SIX per a. II. AMI lend II
ott - (" sntv, f'rty and s;xig. Secondly. penne
VINO by means o. money borrowed AZ she banks.
nave endeavOred to engross all the land. proper
" o, ;hs site and negroes Thirdly, sarpers. Who
i've by speculation and by uver-reachuC the indus
u:ous, honest man. These are the men 10 be niur-
cd and 'e' the good people Of Virginia, De at the
expense of caVvanine elceisat,irc to relieve them
or else they viii be comp He'd IN re,ura 10 honest
indu't'y The writer showed IN paper ~. ih4
use ana abuse Of banks published il the Enquirer
sixth january list that banks ought never to lend
money 6eN onA "a 'iays' credit. and the negotiable
"ite 70 be renewed once, in the articles we're
hot SOLD. Letthe banks return to their proner
sphere o. action, and they will not he st loss 70
paw speeIe st any time Bullet the Virginia Lc-
gi'laure he convened reprai tn law that requires
the banks T. pay specie, ni nv DESTROYING the ere
on ei The banks and on confidence IN them, the
DihSs wiil be destroyed and the flr'sers viii fnd
nus to he hal plan u keep up the price Of pro
'"ee' they viii find that produce has net fsien
owing 10 hanks being required shortlysto pay spe.
GIe b'it 20 Tie want Of deu.auA Gar omr produce in
Europe, and OF free trade Tie Wesi-Indi4 Islands
NJ.