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

RICHMOND, DECEMBER II.
ELECTIONS.
Yesterday, the Legislature proceeded
to carry iuto effect their resolution for
the election Of Governor, aud of a Sc
natOr OF the United States 10 supply The
place OF Mr.. Eppes.
For Gopernor-in the House Of Dele.
gates, Col. Thomas Mann Randolph.
Delegate from the county OF Aibemarle,
was nominated by Messrs. Gordon, Bald
win. Morris Of Hanover, Cbamberlayns
aud Lowell.
Col. Burwell Basseit, Delegate from
tn. county ofJames City, was-nominated
by Messrs. Garland, Graves and Roy.
-And MIR. Lynn Banks, Delegate from
Madison, and Speaker of The House, was
nominated by Alessrs. Anderson and
Yates
On the lst ballot, Col. Randolph was
elected.
For Senator-Messrs. James Peasants
now of The House of Representatives,
dominated by DR.. b. Archer and DR..
Crump,) and Mr.. John Taiiaferro of the
Senate OF Virginia, Nominated by Mr..
Thomas Brown OF Fauquier,) were bro't
foraari for Scnator of the u. Siates.-
Mr.. pleasauts was elected.
n committee was appointed Goiutly
with one from the Senate To announce
To Nj. Randolph his lecton.-And the
SPEAKER was instructed 10 give the same
information 10 Mr.. Peasants.
An engrOssed bill Concerning the
Superior Court OF law for The county of
Henico, was read third time, aud
passed.
Franklin county, Va. Nov. Is.
10 the Editor Of The Enquirer.
SIX observed in my last Communication
that TIE banks must curtaiI, aud continue to
curtail.
The value of hank paper depends on this
circumstance. A report prevails here, aud is
credited, that the Carolina banks intend cur
failing at the rate of 10 per ceut. every 80
days. Their notes are rising in value rapidly,
and are now received by majority of the
people; plain proof that the opinion above
expressed 10 correct When gold is emitted
from our banks, OF necessity, il finds its way
to England, for reasons formerly assigned
aud silver would go the same way, unlesa di-
verified by the East India trade. Ii enters the
gulf into which has HOwed the wealth of the
world, from the time of the Romans to this
day. How eau il be otherwise If the ma
tional debt belonged TO our citizeas, it would
be fund by transferring which the drains TO
Europe OF the precious metals might be sus-
pended bur large amount 9th de bit is the
property of foreigners already and the resi-
due belongs to citizens too independent TO
make 1t tho subject OF speculation. The state
of every bank that has been made public dis
eioses>the fact, that for every hard dollar n
their vanlts, they have some two and three
aud not few "a many afloat in paper
Some one of their debtors, too, from "A state of
affairs that has unhinged the commercial, aud
sensiply affected the moral world, are con
stautly failing while the ordinary expences
or their respective associations are regularly
going on.
lax business of banking is then as precari-
Gus as observation-disclosures the stopping of
"A NInR OF fafa IN hnnk L..
renee to one of their customers. WHAT is the
amount OF bank capital, real aud fictitious i'm
tbc United Statesi / believe no one can say.
The town of Baltimore alone lately had nine
banks, with capital of something over nine
millions of dollars, Several states granted
She privilege OF banking with more prOdigai
hand q; IN Maryland and all the states crea
ted more or less. This we do know, that it
all The banks, nay, il even the half IF them,
commenced with gold aud silver basis, the
deplorable situation of some, and the failure
or many, 30 TO demonstrate that the over deal
ing Of oar merchants was greater than here
toiore represented it.
But the fact is, that the funds of Que bank
have frequently been used to create ten other
banks and sometimes the newly created
Dthh HAS commenced on credit borrowed
from borrowed capital. Thus, the first pay
ments being made in other bank notes, the
new institution has proceeded to strike notes
with which the stockholders have paid the
remaining instruments. That very many banks
d..
The knowledge of facts like these has pro-
dnced suspicion and distrust of all banking
institutions, that in many cases is unreasona-
bic aud usjust; bat which are nevertheless
fatal III these days of difficulty.
IL the foregoing reflections are just, does il
nottoiiow that the circulating medium mast
daily and rapidly become scarcer9 Nothing
can be more clear TO me- than this. have
medium CT the country. Does it deserve that
oignihsd appellationf l think not. The pre-
aeDtis an age of wonders. The United States,
great, commercial and enlightened, exhibits
standard of generally acknowledged vaiue-to
regulate alike at Boston and Nashville the
price OF articles. The u. States Bank has
Iaiied 10 furnish circulating medium in lieu
.nereoI. u mas sowed the seeds, tear, OF flu
ture political convusion and civil strife
such state OF things is calculated TO make
commerce and manufactures decline, agricul-
ture droop, aud by lessening the confidence
between man and man, undermine the domin-
ion OF good morals.
The general government requires at least
twelve millions OF dollars annually, to support
the civil list, the navy, army, diploma tic
corps, and to pay the interest of the national
DEBT. The state governments tequire eight
millions more, for the support OF the state
powers, that's to say, their civil list, criminal
charges, contingent expences, &c. indepen-
uent OF poor rates, county and corporation
charges: altogether making an aggregate sum
of little short Of twenty six millions Of dollars
and this sum must be raised by way of revenue,
notwithstanding the difficulty of raising dol
lar may he enhanced lea told. This year,
many persons, yes, speak advisedIy, thou-
sands have paid their taxes to the sheriff, with
money they sold their tobacco, corn, sc. for,
and nave been compelled to pay % per cent.
more than THAR true amount; tor, the sheriff
may refuse what money he pleases, save ViT-
Einia money. Next year, IL may he worse, aud
the people may have TO pay one hundred per
eeHt more. This state OF things ought not TO
be suffered. Pride OF opinion does much.
InnSt touch lightly on the Bank of the United