Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1818-05-08

FOR THE ENQUIRER.
Does not Mr.. A. Smith lay il down as a rule,
that Bank ought not TO lend auy more than
what an individual would be compelled TO keep
by him 10 answer occasional demands Even
admit this TO be too rigorous rule hut that
bank may properly lend out a capital, for
carrying on "a business, whose returns are not
very distant, yet how much have we transcend
ed tins rule IN practice-andhow astonishipgly
is the rule relaxing every day of our lives.
Banks now sprout up like mushrooms. The
question is not, whether capital is really want
ed at any particular spot, or rather whether
there be a substantial capital among individ1.
ais 10 justify the establishment of its bank and
ITS subsequent loans; but for how many pur-
poses, some OF them perhaps very visionary
ones, are banks now solcitedi To build a
bridge, TO turnpike road, nav, to educate
the poor VIII ginia, banks must be established,
whose profits are TO effect the various objects
ip conteinpldion.-l have just seen bank
chartered to assist in building up "a towII-and
IN Savannah, proposition is made to establish
an extensive bank with the very opposite views
o. erecting buiidhgs( in tetown, land promet.
ing the advancement OF agricultural interests
Every OBJECT, that is supposed connected with
the public good, rs made the p,ctert for a bank
,ncorpoiation-the public good TOO often the
6ta8, the interests OF the stock lders the real
obltct intended To be promoted. How far is
ihis bahk mania 10 RACER Where is the policy
To be a. 'esud' Is il to go on, until we realize,
MON these happy shores the catastrophe of
Law ) Mississippi Scheme, or the South Sea
bnbblef shall We finally institute "a bank 10
do every thing plough our fields, cook our vic.
tuals, and cobble our shoes by bank mechan.
ism
| began with one remark of A. Smiths.
Will conclude with another Is il not true as
that great economist suggests that the busi.
ness OF banking ought TO be thrown opcn TO
every man who chooses to engage i'm it? |
would add these proyisos, that every man or
association of two or three men, wIis do engage
ih IL, shoGlC pay bonus, by way of far upon his
capital, should be responsible in his private
capacity for all the debts, and should be held
bankrupt from the moment the notes are NOT
discharged in specie.
~ The last accounts from the Spanish Main.
II .'iey are correct, are particularly suspicious
TO the Patriot cause. They stat. that the Row.
altroops have been compelled to evacuate La
guiTaand Caraccas-and that Porto Cabello is
The only port which they occupy in the Pro.
viuces OF Venezuela.
letter from Gibraltar of March %. to the
Editor of the n. Y. Gazette SAYS, The fleet
the Spaniards received from the Dutch are laid
upin dry dock, and will there rot They !raye
heiher money to htthem ont-no seamen-aud
no provisions for The seamen-and OF course no
means 10 procure any"
70 We announce new defeat of the
Semnoles. These multiplied disasters
must soon bring them 10 their senses
There is no intention of permanently oc-
cupying Florida-As soon as the war is
over, our troops will evacuute IL Is il
moi probable, too, that we shall soon eva
cuaie Amelia Island
The President ofthe United States will
I'm few days visit Norfolk, and the Che
Sapeak, with view of obtaining nforma-
ton about tile best situation for "a scite for
naval depot, for terrifying the bay, &c.
tie Will not extend his tour further south
during the present year.
Delegates returned to serue an the newt Legisla.
ture of Virginiu.
1ecomack-James J. Teackie, John Finney.@
" tttidms6urg-Samue Travis.
sNeW Member.