Winchester gazette. [volume] (Winchester, Va.) 18??-1826, 1821-07-14
From the Lersngton Monitor.

The dissatisfaction we anticipated. in re.
istiOn TO the Bank of the Cou.moUw ealth, al
ready begins TO display Itself, Meetings Of
the people have been held In several parts of
The slate, with view to induce the governor
TO call the legislature, because, iii said, the
new bank fes not produced the good effects
1t was intended To produce. but il IL time
tor The people TO be undeceiven. They cane
not SIT still snd call for reii,i, anu at the
same time pay of their Cebts. ana recover
their former prosperity. IL is out OF the
power OF tn. Bank OF The commonweaith,
and even CT the "omnipotent' legislature it,.
sell, TO make something Out OF nothing, or to
render those msn independent who are in
vowed IN debt and do no, take he proper
cour.e 10 get OF, OF il. The time, we trust,
is not yet come, when those who are in DEBT
are to be absoired from pay meat. by legise-
tive acts, or when bank paper is, in violation
oil the constitution, 10 BIT made legal len.
der.
We Go not distinctly understand what IL
the object OF those men who urge en imme.
dlate call OF the Legislature. 40 ,hey wish,
as has been minated by some, that the
country should be deiugeG with more bank
paper? II they 90. let them look at our
present condition, with circulating mediuus
nearly so per cent below the specie s,andatds
Are these men SO ignorant OF poIiticsl eco
Monty as not to perceive, that an increase Of
the quantity would only diminish the value OF
the bank noies in circulation, and that their
rapid depreciation would soon sink them 10
nothing md throw them cut Of circulation
entirely? Do they know likewise, tba, the
existence oil paper medium in, which the
people have not confidence, and which is rot
convertible into specie, has direct tendency
TO throw gold and silver and their equvas
Tents out u circulation. and to bring distress
and ruin upon the country Our condition
at present ID most alarming, w hat man IL
willing to lay By, even FOR single week, the
very best bank notes which are in current
circulation among us.-Ihe farmer receives
for his produce the trash which is called NOS
ney, and Tie merchant is compelled 10 take
H., or he car ohtaIn nobipg for bis goods
What then can he do Win il? He Cannot
remit it to his Eastern correspondents for
more goods. he must sacrifice one hall of
1t, 10 convert il INTO specie and Eastern
funds. Yet some men would urge the issu.
ing Of more paper! The only effect of Sc
mad step would be, to hasten the desiruc-
ton OF the whole, and quickly to reduce
the quantity OF our ctcu ating medium to
the amount Of real money in the country.
Or is it the wish Of those men to procure
The passage OF property tag, wich may en-
able the TO retain their real estate and oth~
or property, without being compelled 10 pay
Their debts !? They should recoll-ct bowev1
er, that creditors have rights as well q: debt
ors, and as almost every man in the commit
nifty stands in the former wei: al The lat.
ter relation, such measure would be little
calculated TO produce efiec'ual or general re-
lief. 10 say nothing Of tie coDstitutiopal;ty
or Justice Of such scheme, il is better. far
better, ss mere matter of expediency tor
the man Of large property to pay his deb,s c.
ven al the sacrifice Of all he is worth, than
for the POOR mechanic, end industrious
'rsdesman, TO be- kept out Of their just dres,
snd TO see their neighboTs living in splen-
Gopfst their expence.
Some perhaps are IN favor Of suspension
Of executions or some farther measure OF
prOcrsstination. But, we ask, what beneiIs
would result from it? Do they expect sus-
pension 10 succeed su,penson, go IS TO pre-
vent tie collection Of Debts siloeetbfr. CT do
they think that, under such a systeID Oft pro-
crastInation, they woold be better able 10 gay
their debts year hence, than they are at pre-
seat.
We DO not undertake to say that some
Improvement may not be suggested 10 our
execution Laws, but we are confident that
no legislative Get can remove TIE pressure,
Which we at present deplofe. Things must
be lefi TO take their own course. lodOstry
snd economy must be universally rcsoTied