Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1829-06-06
Ntr0ntosp0 aasDtq.
SATURDAY MORNING. lime a. Is,a

| Banks and Bunk Fdi,vfs.--Phe New York Mo-
ming Herald says:-
BANK FAILURTs.-The board of Directors ~ IN.
.u'adte D''t'ict Bank at Poughkecpsic give notice
.hat the pressure of the times great as to induce
them to suspend their payments and close the -
ness of the bank. The funds of tho inst;tnt ;,ns =,
ne applied, say they, to the payment of it's debts
ana statement OF their affairs is to be made ont IN
| few days. ~ ou' ia
statement from the agents of the New IJ.,.,
Eagle Bank has appeared i'm the Connect;c,,, n,no
he Indebtedness OF the bank is about 778 600 dol
las, and Ms effects about so 600 besides aho,
uo'oo- uoIarS IN BAD debt, which will probably
never be worth dollar The COMMITTEES an thai
the TACT that several of the Judges of the Snner;or
Court are interested in tho concerns Of tho han
had caused some delay in business before the Court
be closed. VIZ vi"
This Is the second Bank failure in New Yo,L IN
the lapse of month. 1t s but lust. that thew wbo
have caused the Uretchcdness and failu,e ne On non
should IN turn experience the evil. Turn and turn
about. is fair play. But corporation accordin. 70
Lord Coke having soul, it is to be feared that ,}
rctributon does not overtake banks. even who, r.,
"the pressure OF tho times they are compelled 70
stop payment. Cromwell told Lord KimboI,or ,h,.
1t would not be well for England, until there was
ne'er Peer or Lord in the realm What the arIs.
ocracy is to England, the banks in our countrva
( o.
pie 1t will not be well for the U. States, until there
is never a bank in them.
sample of the feeling and sympathy Of banks, ~
lately furnished in Georgia. The Savannah Mercu.
ry, thus speaks of the case
The last Milledrovi!le pan,rs state ,I,t Tho r-a,
trail Bank will commence operations nm Tho Ia,h &C
June next The Statesman says that notss IN the
amount OF eight hundred thousand dollars has alrea-
dy been received for discount. So there can ha -
btit 10 fut rou,inc
Whether the state u collective body or tho no.
pie Individually, will be benefited by the emission
is another question. Much will dopond upon that
class of people who are accommodated with Iooru
But, according to the rules adopted by the Drcc-
tors for the government of the Bank the note of n
person who has Judgment, debts against him will hyo
reinsed' whatever may be the character or credit
Of the security offered. That ia, tho person whosr,
property is about be sold under execution fo, lSs
than half It's value, cannot relieve il BY borrowing
! from this Bank although he offer the most undoubf
ed security Consequently, this Bank will not afford
any relief people IN debt. or laborin1 under orn
bnrrassmons. But it will rather increase their DIFF
hcuties. Because it will place in the hands of few
gripping individuals, an extensive fund for the pnr
poses OF oppression The Statesman mentions q
circumstance, the facts Of which Rad become public
An individual Of Greene county had implied for lSrrn
at the Central Bank, and had already made arrange.
ments with his embarrassed noighbors to re-Ioon 10
out among Them at the rate Of 90 10 IS per cont
And such cases, have doubt, viii he found
| To be numerous
TO the individual in debt, il will be seen, the Bank
can afford no relief. His property must be sold TO
| pay his debts Butt will enable the gripping specula-
tor TO buy it up, at quarter half it's valuo-
BY giving, therefore, anew impulse 10 the spirit of
speculation and cupidty, 1t will increase the difi
cues Of the poorer classes, and place them moro
completely in the power of their wealthy neirh-
! bors.
| The ne'o Ireasrcr.--T'hc now Treasurer Of tho
u. States our late energetic Councillor Of State,
John Campbell, entered upon the dscbarOe NJ h,a
duties on the LIST inst We cannot help thinking
how very happy the Councillor must be- and our phi
lanthropy is so much gratfod in tho contemplation,
as almost to reconcile US to the extreme improperly
| OF CIarke's removal, and his appointment. Tho
terrible scratch, and the more terrible convention
both escaped! three thousand ycarl nothing to do
but to sign his name eight or ten times day! tho
Injuries of the Metropolis all spread out to tho wa
terng mouth and the deer and ncstimable privilege
Of calling upon and looking at the Hero, without les,
OF molestatcn! Verify, some men arc born with
rilvrr croouc itr y r -,0ufhg rhuncSfo, C,r.A,t