Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-10-14

broken hem)-and gold and silver abundant; and last
though not least the productive energies OF the country
(Which being gold, silver and every thing else that
desire from foreign countries. ia the tull tide Of
cessiui operations the plough, the loom, and the ship,
each In iull vigor aud ee-ncy. administering our
cessites an not OF those who believe that the sound
condition OF the currency is to be attributed TO the Bank OF
The u. States. Twenty years OF peace aud tranquility
could not have failed to bring people prsug
and industrious as ours currency every way adequate
to their wants, although had had no Bank he
Their national or local Suppose had had hard money,
constitutional currency based The solid foundation 81
the enterprise aud industry OF cizeu il veiy clear
mat we should have escaped the runou- in the
paper system which have often devastated r country
The tire tnendous elect. OF the expansions of the u
Bank, in 1916 and 1917, ia 1881 aud 1882 and her con
fractions ia 1872 and in 1888 aud 1884, would not have
convulsed and sgonizrd this nation ro one extremity to
the other Ii sin vain to deny that the grea body of the
people do desire reform in the currency They have
suffered so severely from the rag system that they are
getting tired oil IL. And II not in the midst o a revoiu-
ton, We eerainly III the ypist OF a reformation at
least in this particular II tho Bank party are disposed TO
doubt the tact, will refer them 10 the opinion OF a lo.
reener on The subject ~Lo being foreigner not Ike
iy 10 DC scuacd by any prejudice, either Tor or agas
any particular party in tbs country. That foreigner
the Editor OF the London Times who in his paper Of the
'h OF August has the following remark, viz: The
accounts from New York FULLY bear the Anticipation
The great demand for gold which is likely to follow the
change IN the relative value OF tie gold aud silver COIN
age OF the Union is plain that General Jarksons Adj
nih's'fa ion Is scerng, and with very rapid
too one Of the greatest REFORMS in the currency ever a
tempted by any country. II is admitted that supply OF
oil SO. 900, and that iur her very consider able sun
ply will he waneJ aud will be obsine The ctio
here aud in her parts OF Europe, so great invest
mens in the local Stock Of the several States the Anne.
csn UDion, that il finds purchasers TO almost any extent
that ay he required by the proper apple of this now
er, bullion may in like manner be obtained, and the pro-
per balance between bank notes and specie the great
object oil the Presidents policy he established
the U. S,ates.-lf this intelligent conductor of leading
London journal be correct (snd that he s belle, every
unpr+ndced man in the u States who has paid sny at
tention TO these matters. will ami) why, empha icay
a'k-Why must we have National Bank Will not the
gold coins furnish currency every way sufficient for the
purposes oil the trayeiler! Does the farmer or the me-
chanlc want any better than gold aud silver or il
he chooses it, the notes oil Stale Banks rendered SALE sound
aud solvent by the esab-bui- of The pyoper balance
befceen bank notes aud specie? Say not renances of
large sums Of money beweeS Tho different parts oil the Con.
iedcracy, he effected by OF bills chang drawn
by the different State Banks on each oher? These bills
oil exchange, know may he purchased by uine pro-
badly the one half oil one per But says Mr. eieh
"the naon most probably, will agree, that the i'm.
mehse yearly paid in for revenue shall between the
time OF collection and the time OF disbursements be wholly
oyed and unproductivr" The revenue hereolore
paid into The Bank OF the u. S. has certainly been pro.
ducuve oil no dTeet gain TO the national exchequer al
least believe the Bank has paid no interest ON n 10 ,be
government Mr. Leigh means suppose OF course, that
ITS producvcness consists IN having enabled that Bank
extend is issnes 10 with liz re-
cepis, from that source evenue) But ask thi. ques.
ton Are not the national revenues productive i'm The
meant by Mr.. Leigh, in the Stale Banks as tbrv
in the National Bank! Arc they just as much en-
abed IN consequence thereof 10 increase their issues as
they should not be.Mr Leigh does not pretend TO saw
that the revenues sale in the State Banks ey
were in the National Bank. believe they are; and
am confident large majority OF the nation believes too
Butt the majority anxious 10 throw sill grea er ss.-
guards around the public fund.-: aud will only remark
that We think II s'rsngepassing strange, that Mr. Leigh
refuses TO cooperate in rational salutary
know oil no member oil the majority, who would not he
willing TO join with him heartily rendering the public
funds IN those institutions as safe could be desired
do not remember the provision OF the BILL reported by
Committee OF the lower House OF Congress last winter
Tor regulating the deposites OF public money in the local
banks; but have no doubt, they amply sufficient TO
secure the object intended But il thai bull did not give
sufficient security TO the public funds, another might he
devised which woult-The most ample security, based
the solid properly OF the country might exacted
from the Banks holding the Ii then, the reye.
nues be productive ia the State Banks they are ia The
National Bank land that they are, ,hnk cannot be de-
med) and IT, at The same time they may be rendered much
more safe IN the former than they have heen the latter
WHY again repeat, why must have National
Bank?
In conclusion, will remark that il has been said that
The gold CONS will be kept out oil circulation by bank
OF the same denomination. admit, that oi e as notes
and coins oil the denomination are in circulation
at The same time, the iormer will have tendency TO
Danish The latter without the influence OF
tendency. But there several why gold coius
will be preferred 10 State bank notes-The iacs of their
bong sufficiently portable Tor ordinary purposes OF the
same value throughout The u s. will cause them be pre-
erred by travellers and many others The great body oil the
ahoring peope, who Judge OF the genuneess OF
bahk-notes and "o have generally almost instructive
dsirusi and dislike oil bank paper will prefer the gold cons
But hope an! believe becau'e think perceive strong
symptoms Of it, that the reformation in the currency has
just commenced and that il will 80 until all the banks
will be prohibited from Issuing any note OF less amount
any rate, than 500 This reg uaon, will deny
would at secure ample supply Of gold that
amount and under making these remarks, have been
acuaied by no unkud feeling tow ards MIR. Leigh have
venured TO make them, because think he has pursued
contse, and fear will sill pursue it, which may il not
resisted, lead 10 injurious results
VIRGINIA REPUBLICAN,