Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1820-01-29

heS3trcd FURTHER. that his ETcellercy the Cor
| e,hor oe instructed to send COPY of the foregO-
ing preamble andresoiution to each Of our senator's
ana representatives in the congress Of the United
states Uhich motion to agree uas decided in
the g6frmatice-yeas 20, nays 8.
SUSPENSION OF SPECIE PAYMENTS.
LEXINGTON, JANUARY IL.
The Bank of Kentucky has at length sus-
penued the payment of specie, greatly, we con-
Iess' 10 our modification and regret. We pre-
sumo not TO condemn measure sanctioned
as we understand, by majority of the stock.
holders, and by the unanimous voice of the
boatd OF directors. We shall only saw that TO
as the step appears fraHght with the most; mis-
chieV9us consequences-that we cannot but
regard II as calculated to DESTROY confidence
III an institution, which had deservedly attain
ed al elevated standing and was generally con-
Sldered as impregnable. If it was a measure
OF heceSSity-which however we do not believe,
IL woutd furnish ground for regret: if not we
CONFESS we cannot discern its policy; bat ex-
perience Will test its wisdom, and we sincere
~ nope It's consequences NAV be less disas-
trous than we apprehend. We are aware that
III some parts oil the state large portion of the
people, ana many men of sound judgment and
undOuDted integrity, have long been in favour
OF IL. we are aware too of the difficulties
winch the Bank has had to encounter from the
pressure OF The times and the situation of the
ihenieu institutions III the neigh bouring states
we DelieVe however that il as abundantly
able to weather the storm that il might have
malnta med a firm and erect position and come
on III the end glOriously triumphant We hope
now mat the suspension has taken place, thai
public confidence in the prudence and integ-
iity OF the directors will yet sustain the credit
OF the Ddnk. both at home and abroad and
that steps will be taken TO keep alive this con-
hdence extensively and permanently.
10 THE EDITOR.
'Frdnhfort, january Sth, 1920
VI tuesday last the Bank of Kentucky
ciosed Its vaults, and we are now reduced to
paper medium. This measure was TAX en- nv
Tue BOARD, Immediately after the election of
me Directors by the shareholders; a majority
OF the votes being in favour of suspension
nut The largest stockholders were generally
opposed TO II. The measure was also forced
upon Tie Bank by various other causes among
WHICH, not the least has been the repetitiou Of
resolutions OH the subject, introduced into the
legislature, and the bills to repeal its charter
ana 10 suspend the subscriptions OH the part
o. lne state. These propositions not only
alarmed the holders of its paper in the state.
Dnt were likely TO produce runs upon the Bank
from distance so that its capacity to af-
Iord relief TO the country for the present, with
OUT suSpending, would have been DESTROYED
although its condition is I believe. perfectly
secure from bankruptcy. n bill will be pre-
sehted TO the house of representatives,, re-
strlcting the issues of paper by the Bank and
It's branches TO tlree.fJths of it's capital stock.
uuring the suspension, aud directing the is
branches, according to the capital employed
at each place. This restriction will place the
INSTRUCTION, as TO its debts, precisely where il
stood when IL resumed pas nlent nftor the war.
a i hl'Ist secure to 1t capacity TO do again
whenever the state of exchange will Justify
tne measure. Under this view of tie subject
Tue paper Will maintain its currency witlout
experiencing much depreciation.
ne bills TO repeal the charter of the Bank
OF Kentucky, and those of the Independent
Banks, lie among The orders of the day
The bill TO endOw the Medical College.
passed 10 It's second reading by a handsome
majority not however without opposition. 1t
mas gained friends, aud will, think, pass the
house OF representatives in some shape
" The Commissioners on the boundary oues-
tIo'', are progressing with their discussions i'm
irsiaIIon to the line between ;this state and
Tennessee.
. MIR. DanierS bill to make void all notes and
contracts made with the bank of the United
otates, passed 10 second reading but will
pass no further, until the constitution il
abolished. The same may I've said in regard
10 mF' Horh,ngionS BILL 30 subject the
stockholders Of The Bank of Kentucky 10 the
payment of its debts.
HE Property bill has been recommitted
doubtful.
" Much new business has been brought into
lhe house ~ the course of the week but little
has ieit II AID every day accumulates more
upon the orders of the day" Lexington Req. !
BdrbaToUs and Unnatural Murdey.
PEEKSKILL, IN. YJJan. I5.-On Saiur. |
nay The 7lll HIST. al Pblipsiown, in tine !
county OF Putnam, Leonard Cummings !
was NH umanly buichered by John Mead. |
lls idilIer-in-law. The circumstances |
bat attended This horrid transaction. are
'aid 10 he shortly as follow. The deceas. |
20 and ms father iu. law, Mead. were /
'cturmng from wood irolic upon a sled |
u company with several ether teams
Cummings had understood that Mead
iad abused his vile Mead was inierroget
"a upon The subject by the deceased:
warm Mnlhs ensnrh. mi in AI,o ........ |