Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-01-04
FOR TIE INQUIRER.
NlE. SPEAKER .

As have not the honor
of "A seat on Your floor, beg leave, in this
way, TO address few remarks TO the
Chair on the billnow before the House
My remarks, indeed, shall be few, sir, for
have not the happy faculty of spinning
out my ideas SO long and so far that the
thread becomes too fine to be seen.
be- leave 10 express my objections 10
the bill before you, protesting to establish
sHad'g6Gaks within this commonwealth
Tor tew PLAIN reasons
First, because we have already too
much paper and too little specie afloat: q
er, is aworll of time.
Secondly, because il is even problem
among the most ingenious statesmen,
hoU and rien this process is to be brought
about. The Debate on your floor lately
demonstrated the difficulties OH this sub
ject-and that there were scarcely two
gentlemen OF the same mind as to the
means Of setting the existing banks TO
rights. Is IT wise, then, for us 10 multiply
ihe evil, when we are not sure that we uu-
dersiand the remedy Isit expedient for
us 10 create new banks, when we cannot
restore our old ones TO their former prin-
ciples?
object. therefore, in the third place,
10 the establishment of these banks, at
Ills time--ior, whilst our circulating medi-
UNI is so much deranged, is it wise for us
TO plunge into new difficulties and add 10
this arrangement ?-Is it wise in rs 10
add TO the mass OF paper already ahoat
is 1t wlscin us TO create new Compel
tors torthe specie, which is already deiici-
ent for, though the books of yom west
ern banks are not SO be opened till the LIST
OF November, yet, do YOU suppose, sir,
that those who wish to become subscri-
hers, will not, in the mean time, lay their
hands Upon the specie that is ahoat. and
thus retard, in some degree, the return OF
tie existing banks 70 specie payments
object To- this excessive multiplication
Of banks, in tie foaJth place, because the
subject ofbanking is still wrapt in mystic
ry; few pretend 10 understand it per-
maps noue completely do; for, it is one
of those subjects which require a great
many experiments 10 settle and decide
While, tlien, these experiments are gOlHg
on wiIle the political economists Of This
md other countries arc engaged III speCu-
latIye researches upon it while we NAV
OF course, exucct floods Of light to be dali
" shed upon il is this the time 10 arres,
tho march Of discovery, and preclude our
selves from It's benefits, bv establishing till
1884, as many as 10 or 20 new charters p
Suppose, sir, these banks had been ncor-
poralcd before tie War, would those fla
lures have been introduced, which the
war proved 20 be so necessary, and which
you have introduced into This bill, for
making them specic-payiug banks g..
Are you sure, sir, that as important disco
yeries are not vet IN Store iorus2 Are
you sure, that these provisions are calclI-
lated 10 prod ucc the objects they profess
TO liaveiD view : arc you sure, sir, that
we have as Vet discovered the true secret
Of banking when our present system is
so much opposed to ihat of the English
nation--a nation, that has had so much
more experience than any other on thl.
subject! Are YOU sure thatiti not bet
ter to change the SYSTEM altogether TO a
\ boish these charters-throw open I'll,