Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-05-02
VIEWS UPON THE RUBfcOM.

V tc h'iioWuS uCCOuut " u INC uloNtuleutS .oI
the U. s. Bank.-We need scarcely il
TO the attention Of our Readers, by any elaborate
puff. We assure them, that he is n gentleman Of
the strictess integrity and great Practicai intel
Iigence -
"wAsHINoroN. s0,h April, 1884.
"-ha has desired me 10 write you upon The sub.
ice, OF our ability to get on with our Deposit Bank and
Gold and Silver System. II the u. 3. Bank would let the
Banks and the Country alone, there would be no difficult
~ whsiever-As 1t h., the worst that that institution can do,
has been done. and the only wonder In my mind is, Econ.
silering the extraordinary steps taken by the Bank. that
much more mischief has not been done to our local banks
and trade generally. The efforts Of the Bark design.
ed for the most sbominablc political and selfish purposes,
and aided by It's parizansin both Houses OF Congress aud
elsewhere for months back, have been counteracted by
the sound condition Of the currency, the safe state OF our
foreign exchanges and the generally prosperous condition
Of the Country II the Jeposites had not been removed
ull 1888 or 1885, the Bank would have ruined half the
banks aud merchants OF the Union, for it's exchange com.
'hiurr, alias N. Biddls, would have prepared for II.
"For the present. the Bank game against the North, has
failed altogether, aud they will never again get our ner.
chants 10 help them to raise the cry Of panic. The Bank
snow turning its attention South; but after six months
apprehension and preparation for its attack, your banks
cannot be very s.nsibiy affected, and cannot, in The
present condition Of the currency, Suspend specie pay.
nients. unless they voluntarily do 50 TO obiigc the u.
States Bank-which is suspected Of two banks in this Dis.
'r'ei, who timed their suspension ver5 opportunely for
your election. Except these two banks, l know IF TO
bank that has hitherto stopped, which ought not to have
done so-and were not actually inSolvent-uuless, indeed,
u little bank on the borders Of the Creek nation in Georgia.
Trade has revived north Of us, and Is going OH smooth.
~; aud, all things considered, ii is a little strange that the
Bauk, with its 30 millions, has done no more harm. The
Banks employed by the Treasury are as good as the Bank
Of The United States aud is branches, aud can disburse
and transfer our public monies as we'll. Being the agents
Of me Treasury. they are enabled to encounter the Bank
OF The United States. We may also rely OH better bcha.
vlour hereafter on the part OF the Bank, as it will now
be held accountable Tor whatever embarra.sments trade
may suffer. have no doubt, that Mr.. Webster, Mr..
Kinney, Mr.. Clay, and MIR. Calhoun, have been eyre.
giously disappointed. Mr.. Biddle, no doubt, assured the m
Ia December last, that it they would keep up the cries
OF ruin he would break halt the banks and merchants in
N Union. % a va a. ia. ipin. coma a
their friends. but very few of ours; they have drawn out
,"e wealthy OF our cities and reused our democracy, and
have, after all, no, been able TO unite the Nullifiers and
Nationals on the Bank question.
Their political pageants will do them injury; and al.
thongh ithey unite Our merchants, and may next year get a
majority OF The Null iiers for the Bank, they will he beaten
In the nation. and will not succeed IN what they are now
snout An attempt TO carry the election 10 the House.
without this Bank question, they would have succeeded
Without II, we should have been in a minority i'm the
House before now-without il, we should ne yer have been
enabled TO keep a national party united upon principles
out The political map would have been broken Into sec.
'ions' and we should have been engaged in y miserable
race Tor men We are now engaged in a nobler cause, and
we shall triumph in spite Of all the parade and corrup-
uons oil wealth, and OF this profigate union between those
who would have betrayed their country in 1912. and
Others who would have destroyed the Union in 1882"
REMARKS.
The Bank game, then, we are told, is for the present
IPto me North-anh we suspect that The six million
Loan IN N. York is essentially contributing to this
reiiei.-Much misrepresentation has gone forth in
relation TO this measure. Instead of this or thu,
city or county in N. York being pledged and bound
10 make good II certain proportion OF the loan, we
understand that 1t is merely n loan similar 10 any
other, upon the general faith of the State-and
that the local prejudices, which were expected
to arise under the first view of the measure, are not
now apprehended.-The loan is a favorable one; and
the strongest hopes are entertained of its being fill
ell at home. There is said to be a super-abundance
oil money IN New York-and they need not 90 TO
The Rothschilds, or to the foreign capitalists. for
.he means OF raising the funds.-But let these
lunus De raised IN any way you please, and let six
millions be thrown into the State Banks, who does
doubt the effect? 1t will strengthen them so much.
and add so much confidence TO their operations. TINT
tney m = defy all the power of the Mammo,h and
all the panic OF the Times. Such is believed to be
me cheering effect which it is already producing i'm
N. York. But it cannot be confined to that civ. If
IL s'ses relief to her Banks and trade, it must gradunl-
~ extend itself TO every city with which the great
Conhlerclai Emporium has any intimate con-
neXIon. The heart being replenished with blood.
1t must flow to the extrenities, and be more or less
feit at last, in the most remote arteries of the BODY
polite.
But we admit, that this must be n gradual, and not
n sufficiently general operation. I'm the mem, time
we are informed that " The Bank is noty turning its
attention SOUTH" We believe this remark to he per-
lecty correct-and we have heard of some demon.
STATIONS to this effect that have been made i'm Vir-
ginia.
BE II so! What then? Shall we submit to the pow
er OF this monied arstocracy? Shall we kiss the
rod, and yield up our Constitution and our liberties ?
Heaven forbid! We have The means of reliefin our
own hnnds-and if the People only remain true 10
themselves, we can defy all the powers of the Bank.
ana redeem ourselves from the bondage of Egypt.
we beg the reader distinctly to understand US
we have every reason TO believe, that our State
hahks VIII he able TO sustain themselves under eve
ny pressure which may come upon them. We made
the other day an expose of the condition of the Bank
OF virginia, whose bankruptcy was such a favorite
TOPIC OF conversation, and alarm, and agitation omong
some Oh the Senators Mt Washington. The cheer
ing conclusions which were then held forth nre
scarcely likely to be blasted by any movements
10 The " South." The Banks will, we trust. stand
upon their own resources, and defy all the pres
sure which may be brought to bear upon them
Dut suppose tie worst. Suppose the mammoth at
.empuhS 10 put It's screws upon our State Institu-
u"ns-suppOse too, their paper TO be accumulated
ny Northern Brokers', and thrown back in heavy
masses upon them. What then? We are not with.
out resources. Though they have no six million
loan to aid them-though they have 10 transfer
drafts 10 he brought TO their relief, yet the People
VIII not desert them. We have the most confident
assurances, that many of the capitalists of the State
VIII come TO the rescue. What was done i'm Win
chester the other day? When the Branch of the
FARMERS Bank, and the Bank of the Valley were
threatened with a run, the merchants of the town
and farmers OF the vicinity came TO their relief
Ihey pledged their private fortunes for the relief of
their Banks--and an agent was dispatched with these
ohigations, 10 raise funds in the North--tbe manic
was almost Immediately abated, and the storm was
stiiied. What was done at Leesburg? We saw
gentlemen promptly coming forward with u gene
rous ieeiing winch 10 above oil praise, and pledeine
III IKE manner their fortunes for the. relief. One Of
the yeoinanry OF the land, who is said 10 he worth
nearly haiia million, laid his wealth and influence AT