Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-11-12


its opponents from their fears aud subdue
their hostility for theory must weld 10 fact
and wild speculation 10 the test of experiment.
BosroN. Oct. 80.
From Degrsad's Sale Report.
loo, goo SPANISH MILLED DOLLARS
have been travelling from Philadelphia to
Boston.andit has reSounded through the News
papers from one end OF the continent to the
other, DIS II il were "a matter of very great mo-
ment.
So far as my knowledge extends of the actu.
al practical use which is made of Spanish
Dollars In the U. ). they are not at all consi-
u0red as specie but as merchandize.-'rhev
command, almost invariably a premium and no
Que thinks OF dsposling them in the Banks, at
par as current specie, except on eXtraordina-
ry emergencies.
The gu eat drain of specie which il was fear
ed, by some, would swallow up all the happi-
ness OF Europe ana OF America, for the sake of
obtaining the Injuries of Asia, is fast curing
itself. Both from Europe and from Ane RIGA
Tue faoe To lsdia, this year, will be very small,
compared to what ii was last year. The great
ann OF Merchants always is and always must ae
10 take either goods or specie, from the places
II least wanted, TO the places where, being
most wanted: they will give a greater price
Ior the ar'lcie.-Specie IL has been found
was most wanted at home. OF course il has
not been sent abroad This is a very natural
conclusion.
FOREIGN COINS.
The act passed March 3, 1910, provides
that until Norember . 1919, Gold Coins shall he
taken as legal tender at the following rates,
viz =
OF Great Britain and Portugal of their pre-
sent standard 100 cents for ~ grains or IS
S-9 cents per pennyweiyht:
Of France of their present standard (that is
pieces OF t. 20 and (. 4O) 100 cents for PA
grams, or 81 cents per pehnyweight.
vi SPAN lo0 cents for 2Sl grains, or 81 cents
per pennyweight.
rms law expires on Monday, l Nov. 1919
ana Foreign Gold Coins cease, OH that day TO
be legal tender
Foreign Siieer Coins, by the same Act
March 1919, are 10 continue TO be legal ten
der, at the following rates, until April 20, 1891.
viz: ~ '
The Cro,rns of France, at the rate of SI.IO
Tor each Crown weighing Is dwt. and IL
The Five Franc Pieces. at the rate of s, I6 per
OF or 93 cents and mills for each Five
franc Piece, weighing 10 dwt. and 2 grains
AS iar as can ascertain, OUR BANKS are
yethnnetermlned what course TO pursue, i'm
regard 10 Foretgn Gold Coins: bat | believe
theywili decide TO continue for the present 10
receive them, after the LIST November as they
ana before. II they should find themselves
oNerDuTthened with them (Which is not We
TS ,probabie) they will of course send them
10 be coined al the mint of the United States
GREAT CAUSES
crush little folks and crumble them TO flinders
although so far distant apparently that they
seem not to touch a en-
Suppose, for instance. that all the Rank. in
New YORK were TO curtail one million of dol
lars, would II not affect the Banks in Boston
anu an OF course the commercial linen hereY-
oniu IL not reduce the price OF Goods ard f
otochs I'D New " rk aud cause both TO he Sent
TO Boston and thus depress our market and
make balance against us payable i'm specie
aud thus compel our Banks 10 curtail?
suppose they were TO curtail three millions
IN New York, would they not make our Ranks
curtall more than our trade could hear aud
would II not produce unparalleled distress
IA such distress, would the mechanics and
ia! iaDorers get either employment or their
Ii, from any cause, no matter what il may
ne, any Bank, IN Boston. gets frightened and
craseS 10 discount, are not the other Banks in
e'1ia9Iy compelled to follow suit?
IL all orr Banks curtail large amount, does
u "ot destroy, tor the time, every kind of en-
terprILe and throw the mechanic and the dav
iaborer out of empIov
Just so 1T i with the doiugs of the Bank of
England. The immense amount they have
Withdrawn from circulation has caused a ba-
rance I'D faVorOf England every where: and in
every part OF Europe, Exchange on that conn
Try Is from 10 per cent above what we call
Tue paf.-Sllver is. in England, per cent he
10" par and Gold was lately below par, until
me Bank agreed to take il at par These one.
raIohS nave cranped the enterrrize of Eng
iand ana thrown thousands there out of employ
anu driven them 10 despair.
Withdrawing this immense amnunt from cir
cnlatlon, the Bank of England have compelIed
the Country Banks 10 follow suit {: and by the
natural sympathy of Commerce. the Bank of
france aud the Banking houses on the CONT
nent OF Europe have done the same
~ the same time, at least thirty millions of
DOlIars OF Bank Paper and Bank Credit and
accommodation Bills have been thrown ont of
circulation IN the u. States, say ) 80 900 900
he Bank OF England has with
drawn from circulation { least 10000 600
4 lie Country Banks in England
over over 100000
The Accommodation BiIlsin
England have diminished
by upwards of I5,OOO,O 900
HE natural sympathy of
trade has reduced the ac-
commOdations OF Com
meIce, on the Continent
OF Europe, by at least 20 900 600
Making a reduction, in the
circulating Medium of
sum far exceeding 6 100 0On mn
lhls Mas been done at time when every
country and every body had gone into trade
10 me fnli extent of all real means and also of
an the fictitious means afforded by this fcti-
tious Capital and when the expectation of
Specie to India had been pushed to most I'M.
prece denied extent.
Great fall of prices and the ruin of thousands
nave been among the first consequences.
Great reduction in the enterprise of every
one, lie next step.
Some people say money is not scarce any
where.-Ihe real fact however Is that many
people retire from trade and that those who
wish TO remain in trade, those who have en-
teTpriLe and Judgment, will not, dare not, bor-
row. They cnrtail their business, so as to have
II "lihIn their own real means.
MELANCHOLY q FATAL ACCIDENT.
las al. IA, 81 .,I., IN