Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-03-13

perhaps in his pocket for which he wants
| so Spa ash mi;lcl dollars but they have
his e for 5000 in his possession, and
| laugh al hs dem~Ild. We are tied, hand
aDt foot Mr.. X. SAID, and bound to CON
| cli!ate this great mammoth, which is set
up t. worship in this Christian land we
, are bound to propitate it, SC. Thus, he
said, wiii St our government denounces hi
| erarchy, viii permit no privileged order
ior conducting the service OF the Gully tue
| God, while II denouIces nobility, Slc. has a
! privi.eg d order OF new men grown up, the
| pressure OF whose foot he at this moment
felt on his neck. Ii any thing could re-
| concile him 10 this punstrous alliance be
tween TIE bank and the government, lac
! could, il the object could b; attained of
compelling tnesc banks to fllii their en-
| gag mentS, almost find in his heart to go
with the gentleman in voting for it.
Mr.. X. proceed d to a minute examina-
| ton OF the state of the paper currency,
AMI its various phases, recently and in
earlier times. The stuff uttered on all
HANDS, and absolutely got by rote by the
haberdashers' boys behind the counters in
the shops, that the paper now in circula-
ton would buy any thing you want az Will
as gold and s.iver, WIS answered. lie said,
by 'ying. thatyoI want to buy silver with
it.
lie examined in detail! the present mode
OF banking, which, he said, goes to demo.
ra!iZc socisty--ir was as much swiad,ing to
| issue notes with intent not TO pay, asst WIS
burglary to breek open a hous:. If they
were unable to pay, the banks were bank
ruPts II able to pay and would rot, they
were fraudulent bankrupts. &c. But, he
said, man might as well go 10 CONSTANT
noplc to preach Christi unity, a. to get up
here and preach against Banks. lie des-
paired, he said, almost, of remelying the
evil they cause, when he saw 50 many men
OF respe ctabty directors, stockholders,
debtors Of the banks. To pass this bill, lie
said, would be Ike getting rid of the rats
By setting fire to the house whether any
| her remedy could be divised, he did not
now undertake to pronounce. The banks,
he said, had lost all shame, AMI cxempii-
ned beautiful and very Just observation
OF one OF the hnest writer's, that men, ban
ded together in common cause, viii, COL
leot,Vely, do that az which every Individual
OF the combin .tion would sPurn. This OBJ
servat,on had been applied 70 the enormi-
ties commtt and connved At by the Bri-
tsh East India Company !; and would G.
qualy apply to the modern system of ban
king, but still more to the spirit of party,
&c on WHICH Mr. < s,isrezsea 1T snIre
length.
He then resumed the consideration Of the
history OF bank paper in this Country, and
stated the {; that not many years ago,
the Rev England paper had teea at a.
most as great discount here. as the paper
of this part Of the couqtry now was there,
and that even in New England, the notes
of some of the banks we're MT current
within their own states except at a dis
count. As to establishing this bank. to
prevent vari OIL in the rate Of exchange
OF bank paper he sail, you might as yell
expect 1t to prevent the variation Of the
wind you might, said he. as we'll pass an
act Of Congress Cor which.f il would be of
any effect, ne should certainly vote) to pre-
vent the north west wind from blowing in
our teeth as we go from the house t. our
lodgings. After minute discu sion Of the
causes x dates If the difference Of exchange
in the p lper of various banks, MIR. r. con-
clud d his remarks by Pledging himself to
agree to any adequate means to cure the
| great evil. that were consistent with the adj
ministration of the government, in such
manner as to conduCe to the happiness of
the people and the reformation Of the pub
! lie morals.
Mr.. WARD d Tended the Massachu-
sets banking institutions from imputations,
which he tho'l a part Of Mr.. RS remarks
| on the currency calculated TO cast on their
correct management.
Mr.. SMITH o. Nd. then rose, and adj
| dressed the House at considerable Ienrth
| in oppns ton u the motion before the
House, and in reply to Mr.. Cady, Mr..
! Randolph, and other gentlemen. We have
| not room even for synopss Of his speech.
| lie explained, by amp'e iu trations, the
| preference which a note of the n itional
| Bank would have over the notes of other
| banks, aud even over Treasury Notes
| bearing interest, and the manner il VIII On
it would guard itself from run for
! specie, e., by combin ton of indiyi-
| ais or other ba ks. In regard to the di-
rection and management Of fiscal a Turs. he
| said, the late Secretary Of the Treasury.
| (neaning Mr.. Gallatu) who went into that
department with as many prcjudces as any
man could well entertain, thought all was
wrong there, and he was the very person
| TO set all right. He had examined the sub
! jcct day and night, and after all his exam
! nation, I've had not found single iota Of
| MIR. Hdmilton's system. which il was ne
cess1ry 20 alter, &c. Iy this aue d1te
| Mr.. >. illustrated the advantage Of prac
tee over t'enry. lie made many remark
to sew the operation which made Ttea-
sury Notes generally more va liable, than
the notes OF any bank not paying scec.,-
and, BE- said, if this were not to be a spc-
Gle b NIX, he should not have been found in
f,vor of it. TIE appreciation Of paper.
! he said, was MT wholly owing to the sns-