Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-09-21

served Tor four years, well we were able the
even tenor of our way ,chout days relaxation from,
iG0or aud never gave up the contest long hope
existed oil ultimate victory
THE CRISIS
That crisis is at hand, involving the permanency, the
peace, the harmony and the integrity of the Union can.
not be denied by the most casual observer of
events The Tariff is scattering the seeds of dssension
through the country destroying the stability of our ns,i
uons and undermining the affections OF the people for
Government which their pride and their plea
cherish and to proectSouth Carolina is march
ing onward in her wild of notification to the very
brink of disunonAlabama has become partially inocu
lated with the dangerous poson and Georgia. although
the Interior OF her leading politicians have been
in measure disguised, is calling Couven of the
People to propose remedy for the wrongs ucted upon
them by unjust monopoly. This picture OF the inter
nal condition OF the country is no less painful than true
and renders incumbent every individual who
the Union as tho best protection TO liberty 10 discard
all personal predictions and TO give the subject
calm and candid consideration. The approaching Pre-
sdenial Election is full of the deepest interest
Its important bearing upon this unfortunate state of affairs
cannot he doubted tits TO decide the question whether
the Iarh OF Potecton and exravagant appropriations TO
unconstitutional objects, be fixed upon us as per
manent SYSTEM Of the Government whether the Const
tuition is TO be restored its plain aud simple me aiming bv
the gradual Abandonment OF the one and the restriction of
the other to its legitimate sphere of action In the cleo
ton OF Mr. Clay the highest hopes of the protected
manufacturer would be realized; and the excitement
which now agtates the Southern States would be in
creased TO an alarming extent. The odous system of
protection would become permanent and the grievances
of which the South have long and Justly complained
would remain unredres.ed. That such would be the
effects OF his elevation 10 the Chief Magstracy as GER
tain as that the continuance OF his cherished schemes of
policy would finally destroy the Union We therefore
repeat that the approaching Presidential Election is full
of the deepest interest the people General jackson
has repeatedly manifested desire 10 adus, The
complicated interests of the different sections OF the conn
try, and TO place them on that footing which usce nd
equity requre and in his vetoe he has given evidence of
his determination to restrict the of constitutional
power TO the plain and obvious import of the instrument
which contes it, IL for these reasons that we look p
to the reelection of Gen jackson as the only means NJ
obtaining any further ameoraion Of our burthens and
consequently OF aayng and excitement which will other
wise snake the onon TO lis very Int
The Veto Message was scarcely pubIishel ,vbe, ,ho
Bank Journals predicted the most distressing
as the Directors would be compelled commence wind
ing up its concerns. This game, we perceive i still
kept up. Accounts from Pittsburgh, Louisville Cincnna-
IT, Mobile, &c. &c. unusual demand for mo-
ney anu depression OF prices Can it be possible that
the President OF the Bank Of the United States would
e with the common of men and sacrifice the in
eress of the South and West by temporary cur,alments
merely Tor the purpose OF influencing State elections.
We should hope not-but if the Bank actually reducing
its loans persuaded voluntary act not forced
upon by thing in the existing state of trade and GER
tanly not by the prospect Of closing concerns in 1888
the period fixed by its charter. They were compelled
to draw upon their branches last October because thew
had over-aded at dangerous period. But the pro-
spcct OF in Europe lesened the price of bullion
fell the drafts the bank for specie expectation ceas
cd the premium foreign exchanges was reduced and
all approximations oil continued draft the bank was at
an end They reduced the business the branches for
many months to sustain the Offices New York and
Philadelphia But when the necessity ceased had an on
porunity offered, they might have enlarged their dis
counts The Directors surely ascribe this crail-
ment they did that of last October 10 tho Of
the public debt Less than nine million, of the 10 he
paid in October and the large the present wear
twenty millions being receivable at New York alone
must give the bank the of unusually large amount
OF government deposits. Nor can the necessity for
curaiIing their discounts be ascrbed TO the state Of
trade. Last year all activy--it was the flood oil
comneree-now Pestllence spreads the land and
stagnaes every channel of trade In 1881 business igb
have made draft upon the bank for capital than
could nrnish-that certainly be the case in
ls32-and the recent proposal to lend local banks
million upon rather singular conditions) is an evidence
that they have the MEANS if they arc disposed TO
their loans to trade. 1t be otherwise for besides
the enormous public which they have the use of
the Offices New York and Philadelphia are not comnei
led TO receive they in 1881 some eighteen mil
lions of Branch Bank Remittances from the int.
or do not as usual flow in for the payment debts or the
purchase OF goodhe cholera having very considerably
Diminished our commercial intercourse and internal trade
II is evident that the bank must have ample resources and
that the regular demand for money as great in
1882 as it was in 1881. Whence then arises great
pressure upon the Bank of the United States TO oblige
to distress the South and West at unpropous mo-
ment We are gravely told it is all owing TO the Presi-
dents Veto That is the fruitful of all calami-
ties Ask Bank man. if the fall in prices in 1882 did not
naturally succeed the overradng of 1881 He will tell
you not is the consequence Of the Presidents Veto
Ask him if the cholera has very much increased The
stagnaon of trade. Not is all owing to the Yeo-
Now, according to plain understanding the President
mas hau ABOUT as much 10 DO with introducing the prevail
ing pestlence into the country his Veto has with the
discounts OF the bank or the prices of commodities. This
hunbug w not answer the purpose its projectors The
Bank OF the U. s. will conduct its business with view TO
its own interest exclusively. 1t will lend its capital and
credit to the very last moment of its exisence for the
Directors well know that there is difficulty in winding
up any banking concern conducted proper principles
Witness MIR. Girards Bank and the old Bank of the Uni
ted States. II the President and Directors begin now TO
discontinue loans which they authorized to renew till
1885, the Stockholders should charge the drec-
lion; for 1t will scarcely be otheir interest support ex
Pensve establishments, all over the unon while they
are annually and unnecessarily esscnng the profits on
the Of their capital and credit If tits true that the
Bank OF the United States is this mot in the
natural course of declining trade curtailng its loan
from necessity il must be owing extremely bad manage
men II the Directors have ordered this reduction voun
tariy it is nothing but reckless determination TO sacr-
nee its and the interest of the community and can
have other object but TO promote the election Of Mr.
Clay.--W. Y. EU. Post
DOMESTIC.
TENNEssEE.-An extra session of the Legislature of
beoun IN tho Tto 81,