Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-09-06
tF,om the Washington Globe. ]

tF,om the Washington Globe
Inc following extract from the Boston Courier, shows
that the Bank OF the United States is taking the same
course TO create scarcity Of money at Boston, as at New
York. The Courier, although parizan of the Bank.
states that whether the Depo.cs Je or not no
necessity exists to jnsy-or proPety TO excuse, such
NOV emen OF the Bank against its dealers II puts an in
ogatory, with regard to the effect OF the of the
public funds to the local Institutions, which, coming om
such quarter should arrest attention II proves that
even the Bank patty look to the power which the
oil The Deposiies will confer the State Banks. 10 be
useful as resource against the oppre EN-
forced by their ownJdrore monopoly The Courier saw:
"a domestic bill OF exchange, drawn at 80 or GO J.ys-
on which, besides interest quarter Of per
Branch in Boston will discount; and even OF this. but
very small portion of what is offered.
hese causes combined create great scarcity Of mo.
ney amcng merchants and traders at the
OF an active and extensive auumnal trade which cannot
but seriously affect the amount and profits of the bu.i
ness 'naeed, can hardly be expected that day will
pass iof e next Two or three months which will no, wit
ness tornado in Stestrec as destructive to The vgor
an" wno'esomeness OF trade and commerce the lorna
does OF the tropical regiou products of al and
agriculture which fall within their vortex.
The exports OF the country, this year, Is supposed
considerably exceed in amount, the imports. II this
idc there WILL consequently be no balances 10 paw to
foreign countries in specie; such event to be an
c,pated looking Pospec'vtly the first quarter of the
next year The Bank OF the United States might there
lore with perfect safety to ITSELF and with more orabe
regard in public e,maon be liberal of its present large
eve had almost said tncaicuube) There is not
one chance III hundred that the public depo.es will he
withdrawn, and the Bank may safely di-rea This con-
urgency Bu, suppose the Government should ,pith.
drd'c The public funds ,couid then not mass inneo,e
" INTO other Banks aud ,cOud these Banks discount
up0" fhtSe dposes, the Bank of the United States
mas do"eE II the opinion OF .agacious in the
that ifte depo>ites Withdrawn to day twenty
would not be required for the Bank the United States
to place itself in condition bid defiance 10 The ,nns
lF,on the ~ York s,audad, August ol
we sah lew days since that money was about TO very
scarce; II has become There is severe pressure on
me y-iarke and deep apprchensions are felt tina, il
VIII VIII he greatly increased Why should this be 90 il
is no. the when pressure i usually oup,i. ,h
are no more payments 10 be made thnn common AZ This
time OF The year Specie is flowing in from abroad bu.i
ness every kind has been extremely prosperous. there
money be so scarce now " by should il be so dicu
Sd nearly impossible 10 get discounts OH even the
per IN the city Why do the Branch and the state banks
apke throw out every note almost that offered? Why
has every species OF stock fallen largely within three
days Why should gloom and anxiety pervade all
as II does now The answer is simple and its ,ru,h is
cert"n-the United Suites Bank is pressing The Stofe
Bdhs 1t IL putting the screws as its frie nds said
would The U. ). Bank makes money scarce and in
doing so, convul, es the whole commerce of the csunrv
he 81 anch will discount and the State Banks dare NOT
they do the Branch sends back their note and
specie Tor them They cannot therefore afford the wonted
"ces 10 .ntir customers, which custom has made ndis-
pensabc The Branch is ordered 10 cripple them and IN.
pr'' WIN which The order is executed may be seen in The
iact mat no longer gives notice, that al
such time II will demand specie for a balance hut i,
gathers 800 900 5000 900 Of the notes of State Bank
and without warning the III al he counter
me omcers To neglect their ordinary business and count
OUT ,hese Immense sums from their vault at once If il
commune INC course so Indignantly begun for but fort
nsht longer, New York viii exhibit SUCH a scene ofdis
asier ana distress as our country has known before.
IL WIZ be utter desoaon The power work these tearu
eVs Is ueVed solely from the possession Of the public
poSNsi remove them, and the rcmorseless oppressor
chahed al once Indignation at the conduct OF the United
STATES b'hk Is becoming unversa general outcry is
arising and all eyes turned the nj for re-
mel Let It's measures be accelerated, il it would protect
an oppressed community aud il would the execra-
IL, 10 defend them. " ~