Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-06-25

ofus. should fail. All debts, therefore,
due TO this city, must be paid i'm money
! current here; all debts which are due
| from II. can he paid in The money cur
rent AT the places where we owe il in
this case, who will be the gainert The
Bank OF the United States, aud he banks
oi this, city, can furnish currency re-
deeihabte' In specie for The whole nation,
aud they viii do il though all the other
banks fail: the necessity of such ii cur
reDcy for the payment of taxes will eu-
| sure It's wide diffusion the debtor TO gov
eminent must procure ii. The fall of
| prices, which is the real cause of all the
public clamor, is not owing TO the want
| OF money, as is commonly, though errO.
neOusly, supposed, but TO the want Ot
market. The demand Of consumers can
alone raise the value lot our produce; the
medium for purchasing il is abundant,
1t we had hui "a market TO carry il to-
The want of such market is the only
evil and the only cure for the evil is 10
buy no more OF foreign countries than we
| sell TO them. To attempt to raise prices
by increasing the circulating medium, is
only TO make the same quantity OF pro
duce pass Tor greater nominal amount in
paper: bank bills will fall, il not redeem
ed, but property will not rise. Time and
| the laws of trade will restore things To an
| equilibi i,im, II empirical legislatures do
| not rasliIy interfere To interrupt the ma
| tural course OF events.
The only admissible course for banks
to pursue, who have flooded the country
with paper. which they cannot redeem, is
10 stop and issue no more, but 10 ex-
change that which they have received for
that which they have gwen, until they
have restored the country 10 The same hap.
| Al l.nfn
into existence. For such portion of their
notes ~ they are unable thus To exchansp,
lei them paw interest until they can pay
principal. To refuse retleeming What are
already out, and to continue issuing more,
under the preiext OF keeping TIP the va
Tue OF property, AS Is recommended in the
Kentucky resolutions, which We repub
'ish this evening, is just as wise as il
would be for farmers, under the adj, ice
OF agricultural societies, to establish a
bank in every field Of corn 10 keep mp
the price fg,am, by issuing notes TO pur-
chase II with, to those who have no other
means TO pay for IL. IN. Y. Ev. Post.
BoSToN, June l6.-The bill providing
for the separation of the District of Maine
from Massachusetts, and for giving the
consent of the Legislature 10 the estab-
lishment of il as an independent state on
certain conditions, yesterday passed in
the Senate, yeas 26, nays IL. Several "a
mendments have been made in the bill,
most of which are not important. The
clause providing that the covenants and
bonds for The performance Of settling
duties shall be cancelled, has been so al
tered as 10 authorize the government of
Massachusetts TO hold The said bonds
and obligations for the benefit of the
common fund belonging TO the two states.
a proposition to amend the clause re-
curing az a condition of the separation
a majority OF 1900 votes in favour of the
J. measure, in such manner as to require a
majority OF two thirds of The votes given,
8 was debated al length on Monday and
nesafived. motion Yesterday to strike
/, out fifteen hundred and insert twenty tue
j hundred as the majority required, was
1 hcgatlved after debate, yeas Is, nays 10.
The debate on the general question OF
= the eXpcdiency of the separation AT this
time, commenced yesterday. The Hon.
MIR: Quincy made an able, clear and for
, chile speech against the bill. He was
followed by the Hon. Mr.. SaltonstalI, who
e made an ingenious and eloquent speech
. in favor of the measure. His argumen,
rested principally upon the general expec-
tatien that is entertained, that the sepa-
ration must take place al one time or other
f and tie unquestiOnable indications of d
desire in large proportion of the people
of Maine, that il should take place at the
I present time. He was followed by the
, Hon. Mr. French. who urged additional
arguments against the measure. The
nine senators from Maine voted in favour
of the bill. OF those who voted against it,
y | three are republican,, the rest frderalsts
/. ID. Adv.
June l8.-The bill providing for the
: separation of the stale was again taken
, | up I'D the House yesterday afternoon, aud
, debated. On the question OF passing the
same TO be eng ossed, it was decided in
, the affirmative 1913 ia favor, 10 50 against
it.
Q ALBANY, June l6-IHe Bank of Hud.
} son has shut up shop, and made All assign
ment of its property for the benefit of It's
! creditOrs-honOrary to be first paid-how
much will be paid to those of contrary
{ character, is at present very uncertain
2 We have been told that their bills are moi
e worth fifty per cent.-some say, not
s twenty five-and others, that they are no
better than blank paper. But, as there
we're several honorable men in the direc.
ton, we are not ready TO believe every
= report 10 its disadvantage.-"Tis bad e
nough when bank is obliged to stop
! payment and assign its property--bui, II
! the winding up Of The concerns Of The
Hudson Bank is judicially managed. the
holders OF lis paper cannot, in our opin
ion, III the result, be more than partial
losers. ID. Adv.
! Pleasing Spectacle as the ship
= Ohio. Capt. Toby, from New Orleans, was
about 10 come to anchor at Gloucester
/ 1 d., II