Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1826-02-14
To De continued.)
THINGS IN LONDON.

3crfrdef Of Letter to gentleman IN Rich
mond received from London by the Leeds.
" am In the midst of this huge mass of brick
and mortar once more, locker on, and find my
sell every day more interested in what is going on
around memo doubt because / begin 10 enter
more into the actual state of '' things''
AT this moment nothing is thought of but the
state oil the money market-who is gone, and who
are gOiag-and all the dog,nas OF the political
ECONOMISTS, both fashionable and questionable
are familiar as g household words,'' in the mouths
OF every body; deducing the same consequences
from opposed principles. and different principles
from the same tacts-for my own part, am more
convinced than ever, that Political Economy in its
present stale may enable us TO explain what is
past, but that IN any new combination OF events
It Is rather blind guide. Look, for example, at
the speculations concerning the Iesumng of cash
payments by the BanS of England, all of which
were inevitably" TO come to pass: and 10 she,y
that ii Is not iniallble, regards the present, /
refer you 10 MIR. McCulloch's evidence, respecting
the effects OF Irish absenteeism. where he argues
that II is OF impossible consequence wheeler the
money drawn from the people in the shape OF rent
j. spent among them or Dot;'' he too being of the
Westminster Review Party. As to the word
" LiberaP' it is getting rather in disgrace here.
being applied TO the Ladies of easy virtue be-
iieve the panic is very much abaed but its effects
on commercial credit must and will be felt for some
months. | am inclined TO think it will produce a
change in the banking system of this country.
am very clearly OF opinion that great deal of
the distress oil the moment has been caused by the
limitation OF interest TO per cent. nnch money
that was merely boarded would have been brou.ht
into activity by tile temptation of higher rate of
interest, which would have diminished the induce
rnent TO those who have been embarrassing in eve
Ty possible manner money transactions, for the
purpose OF taking advantage OF &" necessi,y''-
and tie UrIry Laws at such moments az this are
absolutely OF NO avail. Transactions through the
funds, which the Law cannot, and in Exchange
Bills, have been Of continual occurrence. In
whichone per cent, or even more, has been given
Tor one days use OF money, and at the rate of
irom 3 to nihe per cent. per month 3 per cent.
eonsols, Tor example, having been sold for IS,
dividend on, when the buyer could turn Oh his heel
and sell The stock for - the account" little
more than month in advance, at so to SO.
" There Is still much uncertainty as TO what *
coming Talk OF restriction of cash povnents
which do not believe.
Before this difficulty, the Irish Question was
the prominent topic Their chance OF success b.s
certainly very much diminished, partly from their
npfudence, IN giving utterance TO many bitter and
vehement, and, think, occasionally uni,st .neecb-
and publications; this, perhaps, is not % much
10 he wondered a as regretted--as far az / can
understand, the majority Of their Opponents do NOT
take the ground OF general religious opnion. b,,,
of their alliance with the Roman Church. that IL
to say, the dependence of the Clergy on the pope.
and the influence Of the Clergy on the Irish PEG.
pie 1t IS not denied, that under the presen, hone
the we'll known Bull Z" in Cana DOMINO il read
| at Rome on the appointing days; the attacks in
the opposition papers in France, and as il is be-
lievcd, Irish Influence. The vehement and organ
lied attempts, in France generally to establish the
power OF the Pope over the Gallican Church nv
removing the celebrated " Liberties - of alt vh;cI
| you Of course see enough in the French papers-
the alleged interference Of the Pope, directly aet
indirectly, IN Irish sffsrs--all these are matters
which, az you will perceive, are political ra,be,
than religious. Doe Of the most injurious thing,
to their cause is the allusion which has been ire
quently made Of late to foreign eympathv, aos
the probability of the necessity at some peri
od,of yielding 70 their demands. The people here
are nc) lgGe Of icing diyen''