Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-06-01
THE TIMES.


ALEXANDRIA, MAY 26.-The papers
from all parts of The Union give evidence
OF the most unexanpled pressure and
commercial embarrassment In Rich
nond, The sea of govei nment for the State
OF Virginia, where nearly the whole issues
OF Tie civil list are annually expended,
property will not produce one fourth the
purchase money Of 1867 Even in Geo
1ocn and Washington il has experienced
rapid and alarming decline, particularly i'm
Tire former, nearly equal 10 that we have
quoted above baltimore is represented
to BIZ in a deplorabie condition well i'm
proved property upon Market street has
been let at tmenty fve per cent below the
annual ground rent, while much remains
"noccupIed even at these prices The
oldest and most eminent houses in that
Acify have been compelled TO suspend spe-
Gle payments, AMI that too when their
Branch Bank exhibits discount of eight
mutton OF doitarS-out oftUenty eight de
sscripiions of stock quoted by single
broker one only is 'canted. nineteen for sale,
and mithont remark while one of their
daily papers observes, &c Let every one
view the perils of the times with rbat
dauntess composure which was exhibited
at fort NJ Henry" And Whatever
ground is taken at the present moment
should be maintained with tirmness and
spirit unnerved by consequences" In ".
f0ih he failures are numerous beyond
precedent, altho' she has engrossed nearly
the whole fragment of our declining com
merce.-At Boston il is declared, that
should ihe Branch Bank there refuse loans
and demand payment for the debts due,
asst has 6ee,fdirected, the other banks will
be compelled TO adopt similar measures,
and specie or the bills of specie paving
banks cannot be had TO redeem the duty
bonds, that the government may become
The OwnerS of half the real and personal
estate, but 10 procure the money is ont of
hesqnestien !-Although om' condition
is by no means enviable, e are in better
state Than some of our neighbors but
few failures have occurred and the ne.
ceSsity Tor some OF these is very much
doubted. Under circumstances thus com
paratIvely haitering and a prospective
view OF our approaching danger, should
we not husband with great care those re-
sources which are left us and adopt sucl,
measures as will preserve our property
and population from It's whitening grasp?
Landlords we are persuaded woDld adj
vance this object by voluntary reauc.
ton OF their rents, endeayouring to in.
crease population and capital rather than
TO depress II by contrary policy by
such means the mechanical interest will
be retained Che most valuable part Of so
ciety) and prosper, they will vest he pro
ceeds OF their labor in solid improvement
and tie themselves TO the soil. Mechanics
should reduce the price Of their labor
coniormably 10 the diminutiOn of their
rents and the price of provisions, and root
ont the demand for foreign supplies,
which may efectually be done by moi
purchasing articles for manufacture or
consumption from cities where the bal
ance OF trade is so much against as 10
require discount upon our circulating
medium. Our Citizens should participate
in this sentiment and put up with inferior
articles at an Inferior price. AIanuIac-
lures and The mechanic arts should be en-.
couraged, II rs these which contribute so
much 10 the support OF Phitadeiphio al
this time. We have luxurious neighbors.
who derive large salaries and profits from
public employ, and IL is fair TO provide
ourselves with the means Of supplying
their extTavagances. Many Of our Mer
ritdHts and Butts have foreign stocks and
debts, these cOuli be withdrawn and en-
ployed IN trade here, as The price Of pro-
dnce is such as to auihOrise 10. A direct
trade might then be carried on with for
eign ports and Tie country merchants
supplied with every requisite commodity