Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-04-20
tFor the True AmcricGn.1

promised to state remede for the ex;stnc PC
e'misry endorsements and difficulties. Iuow pro-
coed 10 rcfee~1 the ~ dce.
My remedy is irE:ibIe, cOmpi 70 and radical
Whether the gentlemen Of The f:,cuty, the din, ctarg
Of the Banks, it, whose hsris tie administration
OF it rests, vii qpp5 II, remains to be seen
IL is an srti"ni philosophical maxim, {; remove
the use, ,he effect cesseth." To The present cage
this uuerri gly applies
The sou~ce from Which has arsog the general
stagnation oibusnrs- tie preciation Of property.
and the destruction OF tie prospects ofhu drcas Of
orr citizens, is the enormous and disprOr Tomato
quantity Of sto'k held by Cur banks. whereby 50
LARGE properties of teii' capitals, destined for tie
rromoiGH Of manut c'u-es, trad and commerce, is
/ cked I'm, ard diverted Il OF tie Purposes Tor which
it rtenhed. If the complain TIA, the issues o,
bank notes have en- too great, has any Ton da;on,
II uust arise wholly from the issues tor tais immnd-
e~atr quantity Of sock. For, every hundred col
lars NJ it rnus have bt pu chased by equivalent
hurdr"d doIer note Of tn bank holding It,
The only adrqrsc remedy, thereto e. IS tn s.N
this socb. Cuess it is sold, affairs viii grow daily
wore ard worse.
The mode Of sale rrpumes some dc.aiI. lis ne
ccsediy for the bark dire' tors 10 hear in mind. that
they viii tGv" one" more lc resume tie payment
of sn cic pc rhaps ncdi t7ut porini For this pur
pose scrious pre- parations must nc made. The stock
of sp ce on hands is ut riy Inadequate. 4 supply
must he procur d. wherever Il is TO be had. or on
whatever terms. SnpDoso, 'her, fhe Bank Of Penn
syvari. to sell 65000O do!lrs Of its stock in Boston
Tor specie. The "eyrf gate ri this onrn, AM W Mt Il
has in lis vaults, will prIhably be amply sufficient.
Let it sell here tire remaining 900. 900 Hairs b.
Gcse means It NAV no only absorb 500, OO9 cf its
s7prrunus uo'ts, but tease lis discounts 700, 900
with pert g SAFE Is.
The Farm IS and y; canics' IAN or-eht 70 pr
sue the same course, TO the s. H. offs stock on
scale rop1tior.d tnns capital and TIE a",unn,
ofdat 81 OK. /. ought also to increase its dis
counts.
Tie minor banks, which have been u-wiing!v
eoereed by the pressure ofthe large ones, il to the
measure Of enrtaiiment, nay Likewise then increase
theirdiscounts.
The aggregate ircrcqse ofau q @ bank, -rieIf b.
with perfect s7fety, perhapq, 500 600 dollars Til
would make the SUM Of bills discou.t,d at the pre-
sent peii-d, by de seven hank, or which st1te-
ments have b.en Published, about S 100000,
which would be anl, 50 per cent. h.yo-d tie a.
moua; IN Aug. 1914, in t,e midst Of raging war,
wteu trad" ard commerce WIS almost cutii4 IS sur.
pended nd rr ca dbl or INTELLIGENT niau viii pre-
tend that this Increase is unreasorfhle
by these means Che o. rc's would be a'taincd fIa'
proVes"d by the fatal ard never enough 10 be-
regretted measure Of abr.dgine hank discn-r'e
which ncaure h1sbia ted the spects % ds
ofo9r citzen7--dpreciatod almost every srrcies ri
prope' tv-para'zed every kind o. bu incee, evcau.
tlat Of m uryioudrs and tie speciilaiioas Of caii
talsts, VITO By tie presen' system making I'M
mense luuf's by Ire &c era' q stre s.
Tie existing enhirra-emeuts are undoubtedly
very great. Put N addition e. the total snnuri Of
bills discounted, which have stated ahoec, would
almost instantanenusly change q gloomy p1rsnec's
a'd revive every species Of idusby. Property
would ,nc more bless Cur city.
10 this pan car co,c i've ofbut o1r lical %
.ecfion. 7 his must confess. Is q vry s.r..u.
orr not easily removed i is tlis' It is cort arv ~
the interest % tl' bark dirrc'trs who 10 q strurg
tcmptstionto continue Tia sting o. Ter o. I'll e.
rs i rnsrfo,r' ircicases t"ir disideudr. WI
thel continue t. bold 20 er ment stock o. g. Ire
scolc dl derive douh' ir'cr 81 4 on their ca
ri,r!. 7 icy rec ivc G'm De government ar ir-
fcrcst or 're siork I'D from w y.du IS o. their
icons y hus olthlu y 'lc li~itoGo1 of d'scp1ut
star'"e siroihere erov Species o. industry
ald eIpize. uie bank dividends arc extra ssa0t-
~ rrt.t.
Totc p neral''v of orr r. afers 'iit is rro' ely
,'nr s rg1 but g. sli 'fy 90 render j. plain esd
rt 8Ie tn fhr faeeH,ri G. .ar''T.
J'c t~0 ,arl o,at iaYe no7' e-ro-iou-'y erred
-n u ll.rctar' 10 orl 'eiy 4 pqitd FROM
prre Purfosc O. oahkius insuu 'ons, ar o.