Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1829-05-22
May II, 1929.
FOR TIE ENQUIRER.

o.
III there be any sound reasons, with which 10
coniba, tue premises | have advanced they are
not visible 10 me; and If the premises be true
then, think, il follows, that Virginia may not on
ly abolish her Banks, and cause her currency 10
be entirely specie, but that, long the North
ern States shall persist in their Banking Establish
ments, Virginia will be enabled to drain them OF
their specie To the extent OF the value of her pro-
duce vended in the Northern Markets. Nothing
can prevent this, hut the large supply of Goods
furnished by the y. York Market, TO the Virginia
Merchants; and even this only have the ef-
feet OF causing some specie 70 return upon the
Northern Markets, after being brought into Vir-
ginia, the extent Of which must, ia the nature of
things, be uncertain; but, which will depend, in
some degree, upon the state Of the trade between
the markets. II the produce of Virginia should
be very high, much of it would be sold in North
ern Markets, and the balance Of trade, in such
case, being, most probably, in favor OF Virginia,
would cause a larger drain Of specie from the
Northern Markets into own The notion, that
produce could not be sold to advantage, without
Banks, is founded upon the erroneous basis, that
money is more valuable than bread, tobacco, and
other products of land. l contend that money,
whether IL be OF paper or metal, is of far less val
tie than the necessaries and even uxuries of life;
FIR necessa-ies must be had life will cease; aud
money only eHables its holder to purchase those
things, which life requires when they cannot 9th.
erwise re had. Suppose two persons TO be placed
upon a barren rock, the one being n possession o {
hushe' OF dollars, and me other, of bushel of
meal-which would live the longest. In such
case, il would soon be seen, that money, in Itself
afforded no sustenaDce 10 life; for, tho the man
with bushel Of meal, would not be in possession
OF one thousandth part of the estimated wealth OF
the other, yet he would be in possession of that,
which, in truth, was Of far more value than mo
ney; Tor II would sustain his lite long after his
companion should be dead.-I mention this, with
other motive, than TO shew, that the products of
the earth are the proper and natural means given
10 man tor his own subsistence,-and that money,
is nothing more than an invention OF man, TO pur-
chase these wants OF nature, when he cannot 9th
erwise procure them. Why, then, should We
fear, that our surplus produce, which forms the
FIRST necessity of human nature, should not be
able to find a market, when money, which have
shewn is tar less valuable, is always plenty
enough, where bread, sc. are wanted to purchase
it, and even to send for it, wherever it may be
found! thousand cases may be put 10 shew,
that all countries having surplus OF any thing,
which is valuable, may always find market fox
II, and con!rou the kind of money which it will
receive in payment, or permit circulate.-Sup-
pose the present war between Turkey and Rus
STA should, in the end, involve all Europe, that
bread stuhs, tobacco, and cotton, should become
scarce in England, and upon the Continent; sup
pose, at the same time, that Virginia had abun-
dance of these articles whilst she had not a sim
gle ship, or dollar OF currency of any Kind
Will il be believed, for a moment, that, because
she had no vessels 10 carry this produce away,
and no money to purchase from each other, that,
therefore, the articles must rot on our handsi-
Certainly not In such case, our wants, as far
nature intended they should exist would be am
ply supplied; hut the natural wanlc - the people
OF Europe, could not be supplied, except by means
OF their money, which they must and lcould send
TO us, for the articles which they wanted; ansi. Il
being known that Virginia would not take anv
thing but specie, this alone would be sent, OF
something which was convertible into it, Ii this
be true, how infinitely improved would be the
condition of the people and the Country! The
specie being once introduced into the Country,
would soon scatter itself in every direction; and
every man who had surplua produce, would put
into his pocket the value OF that surplus, in hard
money which could neither be lost nor counterfeit
ed, with as mach facility as paper money. The
State would then possess, and retain within its own
limits, healthfii metallic currency, not liable to
be collected by brokers, and carried away from the
Country as has been the case, ever since the cre-
alton Of Banks.
But, there other mischiefs, OF much more
serious and alarming character, arising from Banks
which remain to be noticed. think have shewn,
that Banks have been destructive G the value of
our lands and now proceed to shew hat the gov
eminent and people of this CommoisSge dlth, are
so trammelled by their power and influence, as
that freedom of speech and of action, have either
ceased to exist, most feebiy exercised, il they
exist at all. Ii people be enslaved by impoli.
tic laws, passed under government which wears
the form OF freedom il is az bad far as the PEG
pie are concerned, as il they were enslas ed, I'M
der the form and substance OF the government, it,
self. is, by any means, the laws which ave pass
ed shall operate, that the people are afraid to
speak and act Independently, then the laws are
bad, and if persisted in, viii, in the end, produce
revolution; for, there is point, beyond which,
passive submission will cease, and active resist
ance commence. If the laws create monied in.
terests, so great as TO give TO those who WELD
their interests, exclusive privileges, exclusive
inE
majority OF the people, the consequences are as
bad, as if these odious principles engrafted
on the face OF the Constitution. In this enlight-
ened age, the people will look at the actual state
Of things, as they are and felt, and they will
not consent TO be duped by genius and talents
when welded by interested and artful nen.-I
now call the attention of every enlightened and
independent man, to the real state Of that portion
of the Community, with which he mixes inOst,
aud he will find, that if most Of the people be not
in some form or other, deeply entangled with
Banks, there at least some, whose influence in
their Counties is so great, that when they choose
they may carry any mans election they may
think proper to advocate.
1t is true, that these men, who choose to take
an active part in the elections, win not tell the
motives which inpel them to &C ion; and, in this
concealment, consists the success of their aciivi
ty. liz il was publicly known, that they were
largely indebted TO the Banks. whilst they were
engaged in supporting the election OF Bank Ad-
yocatej or, u IL was known That they held large
interests in Stocks, why, them the object would
be plain, and their influence would cease 10 one >
rate II is proper, therefore, to conceal the inter-
est, Of Whatever character it may be, in order that
the conduct OF the individuals in elections, NAV
seen, to be independent aud disinterested.
Is there neighborhood now to be found, which
lies within forty miles Of Richmond. Petersburg
Norfolk, Fredericksburg, Lynchburg, or Win
chester, I'm all which there are Banks,) that has
not some influential men, who may be said 10 be
situated, in relation TO the Banks Of Virginia, as
that they could no. give an independent vote upon
a questicH which vitality affected those nsiiiu-
tons? And is 1t not from these neighbOrhoods or
hN AL of Lnan dat a..1hnr. az iI.r r..i-