Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-11-05

telligible 10 the authors of the resolutions2
Charity forbid. ME To suppose that il is. If,
then, they can lind the solution within their
own bOsOls, why should they suppose that
and that mans being a hank director shuts
his heart 10 every noble and honest feeling
aud would cause him 10 violate a duty second
only 10 that which he owes 10 his God-his
duty TO his county:
have said that was opposed to banking in
stuniions generaily. and particularly the Bank
OF the Unted States. In the latter. | view AN
institution which may be converted into an
immense political engine To strength The al m
OF the general government, and which may at
some future day be used to Cypress and break
down the state governments.
The state banks are not so dangerous in a
political point of view but. carried to the ex.
tent which they have heretofore been they
have the tendency to produce inordnate
wealth 10 iudividuals-wealth begets luxury,
and luxury is the very bane of republics.
There can lie no doubt, however. but the
banking system used TO a certain extent, aud
under the direction of the states, may he made
emlnently conducive to the prosperity of a
country BY increasing its capital. il increas-
es the means of enterprise, and affords funds
tor improvements which could not otherwise
be attempted in times when.a metallic medi-
um is scarce.
But, fellow citizens, il is unnecessary TO
pursue tins subject further. The authors of
The Resolution well knew that, with regard 10
ANY practical effect that their exertions could
produce, il was certainly immateria what
night he the sentiments of The members of the
State Legislature in relation TO the banking
institutions. Both the Y. States Bank and
those OF the State, are fixed upen Us, the one
by a law of the United States, declared 10 he
| constitutional by the highest judicial tribunal
OF our country, and the others bottomed upou
Quarters which Cannot he violated And
think il almost impossible that any of them
can believe that the destruction of all the
I'm N. a
ing medium, bad as il is, would have the least
Tendency TO produce better. II would
indeed, produce an effect, but such a one AS
the great enemy OF mankind could only view
WIN amy other feelings than those of sorrow
ana regret The hustle and hum of business.
III this fair city, would cease silence and de.
Soiation would succeed; and the industrious
mechanic would want bread for his family, or
ne FORCED To seek 1t IN some foreign region
Bnt, say these wise politicians Danish This
ideaimoney, and real coin will soon take IFS
place" Aud from whence is il to come, Il
not the pressure felt IN at least as great de-
gree In every part of our country2 What arti.
Gle have We that they so much want as IN he
wiling 10 buy with the little money they
possess: No, trust me, fellow-cifzens, there
+ no truth in this doctrine. Believe an old
friend who has no interest TO deceive you-
VINO has no political object under heaven but
your Happiness and the happiness OF his conn
Try. he principal cause o. Your present DIFF
flcultips Is not 10 be found in the circle of >our
city or county, nor even within that of YOUR
state ~ '"'
III is not here that Won are to look for the
cause which has stopped the circulation of The
precious met to the extent that we formerly
possessed them. 1t the noble river which
washes The southern boundary of your corutry
were suddenly TO cease to flow, would ven
search III the sands of its beds for the cause of
ne phenomenon or would YOU not rather
examine its sources III the mountains 10 see
whether its springs had taken a different
direction or no longer continued to discharge
their accustomed supply?
The abundance of the REGIONS me falls which
we formerly possessed was PRODUCE by the
long war which ragged in Europe We were
The carriers for that whole continent; the uoId
ana silver OF Mexico and Peru passed through
our hands. Europe now reposcs in profound
peace, and manages its own commerce Nv
the revolutions i'll South America and some
local causes, the supply of the precious metals
mas been greatly diminished; whilst the eter
nal and runous drain TO India continues To
flew with an equal, if not an increased cur
rent. these are the principal canses of our
distress. Another certainly is the great in
crease OF banks without sufficient CAPITAL
when nave deprived the Older establishments
oi coin, and brought discredit npon them all
These are the evils we sutfer under Phe
question is, what are the remedies They are
moi to be found in the state legislature: il can
do nothing. Nor will the destruction of the
banks produce any good. | have already
shewn some of the evils which wouId attend
this. The circulating medium bad as il is
must he supported anil we can get n bettar
But The overthrow of the banks al this time
would have another fatal effect They would
call in their debts The stockholders would
not suffer, because their stock would serve
10 pay. If the Miami Exporting Compary
aud the Bank of Cincinnati were Obliged
to close their concerns Tomorrow, il would
not make The least difference to me, as
have borrowed from those banks within
very tritle of the amount wh ch possess i N
stock. But those who owe them aud have no
stock would he ruined
again recur TO the question, what are the
remedies for the present dIsireSs2 NV opin-
ioniS, that they are TO be found in tie general
government-whO should Thy an issue of bills
ct credit, or some such mcans) provide cir
cnlAtIng mesIum-aRd, fellow citizens in
yonrselves-rigd economy must he pursued
at least every article of foreign growth and
manufacture must be either totally dispeused
WIN or used as Sparingiy as possible untiI
mere shall be demand abroad for our pro-
ducts, ana The balance of trade in our favor
BY one of the resolutions TO which | have
so often referred find that every candidate
Is denounced who is not willing TO proclaim his
determination TO retain the money which was
taken from the Branch Bauk at ChlIicothe.-
lhother words, he must pledge himself TO pIace
lie state III hostile opposition TO The govern
meni ut the United States and prcpare 10 win.
late that oath which lie must take before he il
admitted 10 his seat.
KNOW not VINO Is Tie author of this Tesolu-
Ton. or BY whom II IS supported bnt of This
am certain. that the principle of placing the
state ~ hostile opposition 10 the United States.
Is not legitimate plant Of Ohio's soil il has
never been nourished in the pure stream of
western patriotism. Is it not "A shoot which
has sprung from the far-Iamed Boston oppo-
sItIon, aud been Durtured in tie foul mire of
the Hartford Convention If so, il cannot
flourish here. Patriotism is the passion oC
Ohio's sons. Her devotion TO The general good
~ Tie late war has given her rank in That IA
miIy of which Washington was the coinmon |
parent.
know too little Of the circumstances al |
Tending tie transactions at Clhllicoihe 10 rive |
an opinion on the subject, but my determina- |
lloh Is. ~ nave any voice in the matter, to |
Tie only tribunals known to our laws in which |
suck matters can be determined