Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-06-08

more Tor NJ; and the very proprriy TOE
which we had paid two ont of three install
men,s, wiii IN many cases no, be sutfici-
eni to pay the very last ins,amrni.
fCONONICU9.
t-s-lr ylnext shall answer the lltrrnnt non.
sen,. ut tue Aurora. It's c6itot - 4 mere pre-
tender 10 PO.itcal Econo.ny. vhntOea i,pt nm
oersiaao the most simple pt,ncipeS oi the SCI
ehSe.--i shaii seize the same orr1rihr'ty vt
relnarking oH an aathoiity that q, serves De-
spect--thr last Edipbnre Review on The prin-
cip,es OF tue" value ot money"
Epitaph on tae ts,ab Of tie Spaa:s,i C,,raiier.
was We4-I wished to DC bgteer--l took
physlc-and here ann
Such Is the in.cr'ptIon that sui's this country
in these times-rke Bank paper is The ,.i,drd
phi that has brought US nhere we a.e. i.
The eeutemaa, WHO brought the iniorma,ior
from North Carolina, winch was gwen an sumo
oithe first impressions OF our las; paper, Is now
~ TINS city. Ii appear. that the NOriii Caro-
lima state Bank at Raleigh refused 10 .iyc the
broker from tins city specie tor abont s. rs. 900
of ITS paper but rendered him draft ON the
Norii-that the branch at Fayetteville ,Iecl.r-
ed II would be protested sooner than paw him
specie tor about = 50Oe, but rendered him "A
draft on New York, whlrt, he accepted. Ihe
North Carolina newspapers have since come
10 hand, from whic. we lean that the Cashiers
OF the different banks have come To he follow.
ins resolution:
RALEIGH June IA me tiug at Fayet,svilIe
on The 3lst ult of delegates from the State
BANK OF Nofth Cdroiina the Bank of Cape
Fear aud the Bank OF Newbern. charged by
The respective institutions, 10 take into coi.si-
deratIOH the present state of the country as il
effects the business of the Banks, AID to re-
part of the Banks.
The committee having considered that the
repeated heavy runs for specie made by Bro
kers aud others, whO by disinsenuons means
al To to- 81. 40
then purchase them and present them for ,,aX-
iDent m specie which was held by the Banks
seeing 40 reason to hope that such iuus will
be discontinued while the calls are met hv
specie payments, and tile advance price Of
specie added to the discount of the purchase
lenders the operations profitable Belle wing
that the reduced value Of the agricultural nro.
duce ct The country, aud the LOSSES OF the II err.
chants OF tins state, consequent on the u, ex-
pected aud great fall IN value of produce and
the failures of merchants in other sia!es, rem
der II impossible for the ciIizens of this state
TO say their debts Ia the Banks at the present
period; And convinced thai attempts to en-
force the collection the debts due the banks
by SiiIt aud execution, would result only in the
sacrifice Ofestates and in the ruin Of lhuu-
sands: The committee are compelied TO { on
ciude mar the Banks of this state must choose
between The alternatives of enforcing Ihe col
lection of the debts due them, regardless of
I'll" ruin and distress that coarse must ccasitu:
oil continulnS To pay specie TO Specula ;orS uu-
III their eInpticd vautsshll compel i'ipTp to
dlSiOnoNr The notes; or to refuse TO re.I,-en,
with specie, their notes presented nv spetuIa-
tors. The choice between these alternatives
u painful: TIE one course may eject The
credit of the Banks-the other will certainty
Owe 1h0lm a community with misery and ruin
The committee anxiOuSly weighing the diff
cuties OF either course, believing that d sns-
pension of payment of specie TO those who
have obtained their notes for speculation will
be productive of much less general injury
lp n lpr a Eel tI fol-
ing resolution. That the State Bank of North
Carolina, the Bank OF Cape Fear aud the
Bank OF Newbern, while the present state of
things oontinnes) refuse TO pay specie TO Bro
kers, OF 10 others who they believe have OBJ
tanned their notes Ivy purchase alta discount
for the purpose of obtaining specie from the
Banks.
~ We learn that the delegates have agreed
to recommend TO their respective Banks TO
permit debtors TO renew notes on the payment
ot only The interest, which we presume viii be
adopted.
IMAGINARY LAW CASE.
we were amused some weeks ago by read
ing IVA the Wilmington paper the statement of
aIdw case between Bank and one OF its debt
ois Contrary TO our expectation however
we tud that by many the decision there ina
2ined Is actually supposed 10 have been had.
al vs. therefore. eur duty TO say, that the case
punished was merely hypothetical. That
Bank notes payable TO bearer, on demand.
but never presented at the Bank for payment
shouid De considered as an offset, in a suit aud
thereby throw the rOst on the Bank would ne
yer enteI into tue mind # any man IN the least
refsed in law, common mercantile intern,a-
ton or common sense. Nor is It to be snppo-
sea That any one would he willing 10 LEI his
more remain upon interest and hold the money
mat would pay il off, losing The interest there
Gu NOthi q but merriment conld have been
intended by the writer or publisher II Star
[coMnUNIc,Typ.