Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-12-18

"
against us.-These evils are, graduail,
curing iiiemseives.-A little time will re-
move them entirely, aud restore the ma
ton 10 a healthful aud prosperous condi-
ion.-As | remarked, in former com-
mnnlcaiion, the principal shock has been
already felt; and that part of the work of
reformation which is yet 10 come, will be
expected by all, and, therefore, be ac-
cnmplished With greater ease aud less ex-
ciien. MT.
" Money is nothing but the represent
ta''ve Of labour aud commodities, and
serves only AS method OF rating or es,l-
mating them.-hs n respects the inter
nal affairs OF nation, II is quite inmate.
rial whether money he plenty or not
u siionid increase only IN proportion 10
the quantum OF labour and commodities.
Sudden changes are ruinous 10 every
interest IN society, and can alone he JUS
lined by The public necessities IN time of
war, and even then, Il considerable Increase
would the injurious, bu, for The pee ul,ar
manner OF IFS circulation ana the capacity
OF the government TO absorb il again.
The lnw price of labour in "A nation
conters incalru!ahle advantages IN its in
tercOurse with other countries. 1t ena
bles the products of your industry TO
come fairly into foreign markets, and
turns the balance OF trade in your f.
v0ur.-And 10 one will deny bui that In.
scarcity OF money rhearens the pri, e of
labour and provisions So that whether
you look to our domestic, OF commercial
interests, the effect is the same.-lt is
Important for the encouragement of in-
dnsiry, that the money Of the country
should be, gradually, increasing That
however. is moi the case at this pariicu
lar peiiod.-For the last twelve months
II has decreased with rapidiiy unrxam-
Piled IN the annals of any country This,
however, Is owing 10 The artificial stimu-
tus gwen 10 lis increase during the latter
part of The late war, aud for three wears
subsequent to the peace.-bv an uniusti-
habl extension of the banking system.-
BY means Of that delusive system, so des-
frnctive 10 The morals, and ruinnus TO the
circumstances, OF the honest part of the
community, money was multiplied so
enormously, that men became intoxicated
with the prosperity by which they imagin-
"a TIT mselves surrounded, aud launched
lortiI INTO eXtra,agauCies and sprcuIa-
ions, by which Thousands have been ir
r,ir,evably ruIned.-lf II were practicable
70 devise any remedy, il is now TOO late
70 apply IL,
An issue OF government paper cannot
be beneficial 10 the nation III CONNER
cial point OF view, nor will il, III The least
benehI fhe situation Of iudiviSiuals-un
less, indeed, MIR. Pmckuey means 10 pre-
sen large sums 10 those who have involved
themselves by their extravagaaces ar
their foliies. The amount OF government
bills contemplated 10 br issued is SAID 10
b. 'wen,y millions. How are they TO b
thrown iuto cir. ulaiion Will they h.
discussed by the government in The pa>
M ut oil IFS current eXpences, or viii HEY
he loaned 10 the Bank of the u. States I
IL Is scarcely presuDable they will be
given 10 that institution, without some
eqniealent--since the government will hc
responsible fer their redemption. II nav
be intended that the bank shall redeo ~
aud return them after CERTAIN time
without paying interest upon them.
Should they be disbursed by the 90
veTums In the payment of demands up
on %, they must be deposited in the ma
,io0al bank; snd will be, gradually, cir
culated among the people, N'onii ash
what VIII, IN The mean Umr, b come o
the large amount Of money now belonging
10 the government, and in The vauhs o
the bank And will not thar amount b,
doubled by collections TO b.. mad durin,
the time OF issuing the government bills
By this policy, the national bank will b,
furnished with large SUMS of The pubic
money, without yielding an equI, aien
for the use Oft. And what will sill b.
ot more importance, il will be furnisie,
with a medium which il can circulate a
pleasure, without being liable 10 be Gale,
on 10 redeem itwith specie. With advan
iages like these, that institution will hav
every state bank in the Union in it's power
and will not fail To crush ihem.-Tbes
consequences must inevitably result iron
The circulation OF the proposed issue O
paper IN any W0y WhateUer through On
nalional bank. Ii is unlmporiant wheihe
they be loaned 10 Tie bank, or paid GU
through IL. The effect will be precisely
equivalent 10 the suspension Of speci
| payments, OH a certain amount Of lis is
sues.
| Again, it this new medium be circulate
by The payment Of government dues, vi
II net he thrown ont III greater quauii,ie
III one state than another Will ihis b
equal-will il he fair
! But waving these objections (Which
hope Will be duly considered | rOnteu
thai there Is no necessity for the adupiin
ofthe measure contemplated by M. Pincl
ney. Iregret exceedingly tbat he did M
explain both his object and his plan. w
are told that his object is TO relieve III
pressure under which the trade and il
duslry OF the country Iabour and that HI
means are an issue OF government bill
sustained IN their credit aud utility b
taw. This, indeed, isaD age Of exprrimcl
and discovery and men seem dispose
10 pursue plans ofadvcninrous ciaracir
AT the risk OF Tie best interests of III
country. Ia What country was cirrt
laiing medium of piper established, an
attempted 10 be sustained by law F,o
Necessity, The attempt was made hnrin