Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1820-05-26

deem sAtii iths, - tlpy haze s.. .t,ofois done
az the New Ergi&nd Eank. I THIS ba4 caus-
"a npriehensiohs Tor the safety al other
Bauks-and :.ieat uistIust OF country mo-
nsy has becu exhibited.
AS tar - we have heen able TO understand
the origin OF the diii.cu!ty IL is this "A
pretty large amount OF bills OF exchange.
drawn on London, by one OF The principal
stockholders OF the Haiioweil aud Augusta
Bank, came protested Tor nOn.acceptance
and the apprehension that the bduk might
suner by ~, inauced the directors TO discoL.
tinue the redemption of their bills. The i'm.
mediate aud universal CONSERVATION which
the measure produced, created a suspicion
oil other Danks-and country bills, 10 "a vast
amount, were so suddenly thrown npon The
agents of those banks for redemption, thai
the agents OF twoother hank. the Wiscasset
and Casiine) were obliged. from want ot rea
dy funds, 10 cease redeemins their bills. We
cannot hut hope, that with respect 20 the two
iatterbauks, this stoppaye of payment will b..
only temporary aud that they possess the abb
ity, which we hope will speedily he put into eff
feet, ct saving the public trom any ultimate
loss.
We believe the alarm has been greater than
circumstances viii be found in the event TO
have warranted. 1.-The public aprchen.
son has already in great degree subsidized
and good reason exists, TO believe, She. 40
other banks will be obliged to stop pay
! ment.
Ii ia presumed, that the New England
Bank has redeemed, aud the agents of the
| country baaks have taken out of circulation,
since the beginning OF the late alarm, AT
least aOo.000 dsiiars. From the great dis
lance of many OF these banks from the me-
| tropolis, il is not a matter of wonder, that
| some " them, under circumstance so sud
den and unexpected, should have their usual
| funds IN this place exhausted before the
| news of such diminution of public couii-
| dence had reached them, and consequently,
before IL would be in their power TO place
| additional funds III the hands OF their agents
| eyenif their vaults were as rich as the mine 3
| of Peru.
| We wish we'll 10 Maine aud her institu.
| uoDs-and hope and believe that all possible
exertion will lie made TO sustain the high re-
putaiion, liarmony aud confidence, which have
heretofore ssbsisied. and which we hone
| VIII never be diminished, in the come xion Of
Intercourse between the two states.
| 1t ought TO be remarked that the very low
| discount which has been established by the
! New England Bank on country money (but
The rates we are informed. are now increas.
.d) has prevented the bills of distant banks
from being returned home, Az was formerly
| done, and which contributed much to the
public safety. by preventing them from emit
ting more bills than they conld at all time.
| redeem.
HALLOWELL AND AUGUSTA BANK.
We stop The press, tsays the Portland Ar
gus OF Nay i6) TO mention, that "a gentleman
| mas gust arrived IN town from Halowell, who
,uioimS us, that the HdiioueH aud aususta
Bank, refuses altogether. To- pay their bills.
Extract Of a letter TO gentlemen az New
fork, dated Charleston, Elan 10.
received the following information
by This mornings mail, from my friends,
Messrs. Nicolas and Neif, OF Savannah.
=" The Slate and Planters Bank Of this
place, this day, refused TO pay specie for
their bills, Oh a demand from The Branch