Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1820-12-05

resaoioE tne interests OF defiant posterhy.
But h,nfanity woulu not forbid, at least for
consiSe rabie length Of time, double pro-
portion o. females to be removed from a.
mong us. eseiy year.-rhe impor,a,ions
from Africa were never considered mon ( in
human, for having included a much create
disproportion of males in the cargocs. BE-
sides, II is remedy for n diseased state
which we have occasion to seek, aud eli.
Gent remedies are rarely eyer entirely
smooth in their operation.
Although il is not necessary ut this time
to invite the attention Of the Legislature to
the subject of Banking, yet as the same men
are not OF different times, indulgence may
be asked Tor the expression of very delber-
ate sentiments with regard To il. N begins
TO be evident that no permanent iIcreasc Of
the quantity of the circulating medium,
mong as at least, can be obtained from
Banks. Their issues are too closely limited
by rivalry, and the rigid necessity of pre-.
serving steady equilibrium, among ,henl-
selves, TO afford that advantage. n benefit in
the management and employment ofl,rge
funds, is undoubtedly afforded To capitalists,
through their means. But that part of the
industry of country, which possesses not,
and yet absolutely needs monied capita,
for its employment, is annihilated, or reduc-
ed To paralysing state of dependence, by
the mode in which capital rs dispensed by
Banks. They, beyond all doubt, have "a
strong tendency tn prevent permanent adj
vances by Capitalists for the promotion Of
useful industry, and tn facilitate and encour-
age those employments of money least bene
fetal TO the general interests of society,"
Although such paper is more CONVENIENT Than
coin as medium of exchange, yet it never
can be standard of value by which all pro-
perry may with certainty and security be
measured. A solid substance of impe risla-
BILE nature, and in universal demand from its
general utility, which conveys great real va.
lue in small bulk, is readily Invisible, and
easily tested, can alone afford such n mea.
sure-and that is also subject TO some altcra.
ton in its comparative value, even in the or
binary course of aifairs.-The quantity NAV
augment in country from an increased de.
mand abroad for lis productions, the opening
of new commerce with countries producing
the precious metals, or a sudden increase of
industry, intelligence, and skill in the arts, il
attended by economy and all these events
are subject to the influence of moral and po-
ltical causes. In that case a new equilibrium
adjusts itself, and more silver is given for
he same thing, because more persons pos
sess silver, and rivalry is natural to man.
But paper never can be measure of value,
It's own value resting altogether upon conf
dcnce which rumours endanger, and ordinary
commercial events may destroy.) Although
paper cannot supply the place of specie in
its most important use, it eilcctually expels
coin from country.
The specie Of Banks is forever in the DOW
er Of great capitalists, who have Of course
extensive command of Bank paper. But en-
lightened, active, and enterprisinE men, pos
sessed of large capital, will ever be fond of
bold adventures, and The grandeur of sud.
den conceptions often formed too hastily, up
on intelligence crutlely digested, has fas.
cinating influence over such minds. In
many instances specie is the best remittance,
and upon very sudden occasions of promising
speculation it is the only cargo which can be
sent out with sufficient dispatch. While the
com OF country is in circulation, dispersed
throughout the whole territory, it cannot be
readily exported. To collect it would re-
quire much time, and some premium, both
ofwhich would tend to delay, disc ouras e.and
prevent all commercial enterprises by means
of that remittance. The State of Virginia,
although it may be easily drained of specie
through its Banks, possesses small means of
repairing the loss. The most common nc
cessaries Of life, with the addition ofone use
less luxury. safely dispensed with, and abun.
,iantly produced in Il great variety of eli
mates, are its only resources. The demand
for the latter must ever be precarious, and
for the former scarcely less SO, as al other
countries known, with very little exception,
are capable of producing them, and ali the
people OF the world, when left to follow
their own understanding, use their utmost
endeavours 10 produce the greatest quanti
ty possble.J From our example the people
of otherc0untiies have acquired know
ledge OF their rights, and that monopoly of
the soil, which limited its productive power,
has vanished with feudal dependence. But
n still greater evil seems To be inscparaby
with the system of Banking
Great fluctuations in the quantity of crculat-
ing medium proceed from their vacillating
nature, and such changes arc productive of
the most distressing consequences in society.
sudden necessity for alterations TO a great
amount, must ever produce extensive mise
ry by the depression of property below its
just value, which they unavoidably occasion.
Much is taken,for little that has been receiv-
ed, Nothing it is true is lost to the world by
the transfer, and it is even probable that the
happiness produced, is equal to
the sudden misery occasioned = But that is
equally true of pillage in war. In both,
sudden AID violent change is made in the e.
equilibrium OF society, as before established.
Whether the agent be force or aritice, the
are productive of so much dis
tress us to be worth some endeavor TO avert.
III the actual state of business, produced in
no small degree by the Banks, 1t is not pro-
bable that banking viii ever be dispensed
with. Indeed it is to be expected, that it
may at some time be thought doubtful, whe-
ther any association DESTROYS OF undertaking
to bank, if able TO pledge sufficient solid ca
ptal, i'll surely available funds, can in Justice
be denied. AT some future day it may be
found worth considering, what might be the
probable effect of collecting the whole reve-
nue. i'll specie, beginning with part, and
gradually increasing, SO as 10 give time to
business and feelings to accommodate TO the
change, until no paper of any kind be any
longer received Tor taxes. The specie col