Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1818-05-21

money.
Aud then ii is so convenient TO serve
yonr friends
Was ever a more friendly or charitable
institution invented for the snlace and
accommodation of a cliiLen-or for The
growth and prosperity OF a great nation
lhlS. nv masters, rs one SHE ~ the PIC
tire. X us turn the medal, To coniem-
plate the othrr.
haye depicted the advantages of this
EnirerSd FGnacca. But like other nos
lrumS, II iniadicinusy used il does more
6aTm MGH s00d. II is not like the BRAID
juiS "i some famous quacks, which 1t they
, do no good, do no harm. The nOstrum
| sol too active quality 10 be merely in
noceni III us operations. A iuo liberal
| use al IL generates in tiie patie.t a biuat-
ed dropSy, which is the sad inrerunuer of
a ga!iopmg consumption. The mao Tor
short tine, looks well enough: soon he
sweils cut 80 preternaiurai dimension
the carcaSe next bursts aud rapid con
| sumption carries off The patient 10 the
&c tomb of all the CapulelS.'
| Let us again fake birds eve view of
| the country at hrge-and then of the 81
fecis III some particular town, a little it
| detdn
| The Bank meniG really seems 10 laveno
deinabie bounds. Not only o. cry stale
and territory IN the Union is seeking after
banks. but almost every city and village
is sigilng after the garlic, and The leeks
and the flesh pots Of Egypt.
As charters are now given, there is not
one OF them whict makes the private Ell
tects OF each partner responsible for the
debts OF ihe hrm bat they may go ON,
da>hng through thick and thin, issuing
paper, contracting debts, clearing dIyi-
| AZ 4 al.
stock; aud not Il man oiiiIcm Is Liable for
a cent IN iilS private capacity.
| AgGin-as most charters are now given,
indeed as almost all are framed, there Is
| no etiiclent way ofcomp-ilas Them 10 pay
| specie Tor their paper; hut they may close
their vaults upon you, and You have uu
short process by which Won may reach
| the detauljers. They oughi 30 lac declar-
! ed bdnhiRptS tie moment they refuse To
| pay specie ard their effects ought 10 be
shared among their creditors: but n9aUcn
| thing They sill! go on, trading away,
issuing paper, and sharing DIV dend> -.
| What care th Y for having bau;shrd specie
from circuailon HEY max" dividend
| tor themselves, and that Is enough Tor
| them
As banks are now constituted, there
fore, they may drive, andthey have driven
| gold and silver from the market and IN
| lieu OF II, furnish us with paper medium
which Is not always convertible INTO spe-
| Gle. In our trade with foreign countries,
| we deal at disadvantage. In our inter
| nal commerce, we have to use paper
| medium, of variable values. Seine bank
| notes are below par, and Il mongrci sort
| OF exchange is introduced. which it Is hard
10 estimate and impossible TO cqualizc
| by any species of arrangement which is
| at present adopted.
But new consequence springs from all
| this. Finding that your soft, silk paper,
| 50 elegantly engraved by Murray, Draper,
! Farman d Co. slips so easily into circu-
laiion, parcel of private bankers are
| tempted 10 start up all over the country,
who, without d charter or without capI-
! TAI, take upon themselves To strike notes
| and send them 10 tie winds Such is the
| ephemeral fry of O,0t Creeh, Independent
Manufacturing Company of Baltimore,
| &c. &c. wh o send thelremissaries through
the land TO prey upon the greedy and s.l-
| pId on,atc'0S OF engraved bank paper. .
| Fraud stalks around us, in a variety OF
| forms, and the widow and the orphan be-
come Its victims.
The pniserSni remedyis administered in
! such large and liberal doses, that many
! are dying of the doctor. II is not al
/
| man fimSeliis tempted TO speculate deep
| ~, and the upshol Is, that the land of ms
ioretalhers becomes mortgaged TO the
! manufacturers of bank paper. Trade is
stimulated beyond lis natural bounda-
| res. Your credit IN bank tempts YOU 10
embark In dangerous speculations. AL
most every article OF produce or mer-
| chandize is pushed beyond its proper
price, and when the bubble bursts, YOU
| find yourself ruined. The depreclaled
article Is left upon your hands, while
| your own note with good endorser re.
! turns upon you at the end of 60 DAYS,
with blow as certain as that Of death
You have tasted 90 deeply Of the pana-
cea, and aust take the consequences.
| What shall ! say of the effects wrought
| 'n detal by this over-baukng and over.
| dealing? could laugh at some Of them;
IT IT were not for the melancholy mia
| tuaiiou which sometimes accompanies
| them.
| do not censure the banks for these f
fecis II is the lniatnalion Of those who
| deai With them. II is not properly the
use, but the abuse of The credit, which the
banks allow them.
Here is man, who, ifhe could be salts
| fed, was very well off IN The world: but the
| market Tor rice became more promising.
| He rushed al once madiy into the specu-
lailun the universal pandcea has proved
| his ruin.
| Here is another, uu fortunate enough TO
| have had town lot and lriend-his lat
made him think himself rich, and he
| wished TO live up TO his riches. His friend
offered him the use of his name 10 raise
the wlnd.-The Un,uerSai paaacea has