Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1821-08-07

Vi 9 HtiNa htiSttliltItcu ny Il ultlIulC
capital had grown into an axiom, and that the
bankruptcy of half the Union, produced by
this cause, would have been received Il con-
elusive proof of the destructive tendency of
the measure. Such n course has never been
adopted IN ANY country but under the pres
sure of general calamity and distress; aud
when all ordinary means have failed and the
fountains of prosperity have dried up, the
minds OF men are warped from the line of
recttude, and prepared to embark in amy spc-
culative scheme which affords the least giim-
mering OF nope. Bat the ultimate effect has
always been to aggrayate the evil and Increase
the number of the sufferers. And can we expect
mildcr fate than the rest of mankind have
experienced, when environed by similar diff
culties /?
Credit, and the probability of payment are
| convertible terms and when payment is pro-
crastlnated TO distant day or rendered doubt
full, a corresponding depreciation must inevita-
bly, take place in the paper thrown into cir
cuiaton; and when the alarming depression
once begins, the vitiated currency not only
becomes public mischief, but tends to de-
morallzt the whole community by making
every man a broker.
| Experience slews that system of paper
credit, the weak and sickly offspring of vicious
or imbecile legislation, can never stand alone
Coercive means have always been found ne
cessary to drive the people to the use of So
worthless representative of property and
consequently, it has always been found con-
nected with still greater and Srosser violation
OF the best principles Of law and the best
measures of commerce The stoppage or
suspension OF the collection of debts has always
beena concomitant evil. When the legislature
Intermediates with the private transactions of
men, and establishes contracts different from
the agreement of the parties, it not only sets
at nousht the spirit of the constitutions and of
the pre-eXlstent law, but dcprives the citizen
OF the great, inestimable privilege OF being his
own guardian, Uf contracting aid acting for
himself And while it takes away every COM
mercial facility, and anaihilates all confidence
between man and man, it drives substantial
capital from the country, robs labor of its re-
ward, and takes from genius and enterprise
| the power of rising. The mournful example
of Kentucky affords an admonitious lesson
1t proves To US the impossibility OF the con-
tnuance of credit when capital is exhausted.
lt teaches us by experience that every attempt
al reilet by the employment of fictitious capi-
tai, serves only to multiply and extend the
evil and to plunge us deeper in the vortex of
pecuniary distress Yet there is sill one re-
medy for the evil a safe and sure one though
slow lii its gress-industry and economy
Ii the stream of Justice remained uimpeIled.
ana the Integrity of the law be preserved entire,
we may indulge the hope of speedy relief. by
the accession of wealth, industry and enter
prize from other states. But if the stream be
corrupted III It's fountain if capital he discard
cd II honest labor be deprived of its wages,
instead otseeinS our country the fortunate
| choice OF honest and solvent enli~rants. we
shall have the gloomy propect of SEEM, il
turned into a place Of refuge for fraudulent
bankrupts and absconding swindlcrs.
Entertaining these sentiments, and because
1t has been misrepresented at the seat of
government that the people of St. Louis are
anxious for the passage of stop law and the
creation of paper currency unsupported by
actual captal-therefore, as the sense of this
| meeting
Resotued That the establishment OF bank
on a metallic capital sufficient for the PROMPT
| redemption of all IFS paper, is much TO be de-
sired, and would tend to relieve the peonle
from the pressure of the times and that we
deprecate the creation of a paper currency on
any other principle as an evil of great and a.
| farming magnitude.
ReSotoed, Tint TIVE view every act to prevent
or retard the collection of debts in the ord
nary course of law as an infraction of the
constitution, violation of the rights of indivi
duais, and public and permanent injury to
the country.
fesotred, That the gentlemen who repre-
sent the county of st Louis in the general
assembly, be respectfully requested to use
their influence to prevent the passage of anv
law contravening the principles contained in
the foregoing resolutions.
Resolred, That the chairman ofthis meeting
be requested to send copy of these proceed
inSs 10 the senator's and representatives of this
county In the general assembly.
We yesterday received the first number of
paper called The FIorida Gazeite. printed
at St Augustine East Florida, ON the 14th
instant, by Richard w. Edes 6. Co. 1t con-
ttIns an account of the surrender OF the terri;
ritory. An apology is made for the delay in
commencing the publication, which was caus-
ed by the refusal of the Spanish authorities
to permit its publication as long as the territo
ry remained in their possession
No civil officer had yet reached the TERRITORY.
except Mr.. Forbes, the Marshal. George Gibbs
was appointed by Col. Butler, to be collector
of the port pro tempore.
connunlcatlonappear in the paper, call
ing meeting Ofthe citizens with view to
forwarding TO General Jacksona remonstrance
against that part of his proclamation which
continues the laws andmunicipaI regulations of
the Province, and entrusts their execution
10 the Spanish officers. The ground taken
by the writer of this communication is. that
IN any portion of the territory over which
the flag of the United States waves, the GOV
eminent can only be administered according
to the principles of the American constitution.
or by martial law"
The whole of this difficulty is solved by
reference to the constitution and the laws ofI
the United States. The contitution SAYS
The Congress shall have power to dispose Of and
make all needtu rules and regulations RESPECTING thc
territory or other property belonging the e. States
ana nothing in this constitution shall hc On