Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-09
THE TIMES.

IN
there any doubt, that the policy of the Bank, the
arts OF the agita,ors, and the fears Of the sufferers.
have represented them to be than they really
are? The great object is to restore the Deposites
to give the Bank an advantage over the Ad,niuis,rn.
uon-and with many of The politicians to renew
the charter OF this tremendous institution Bur
some gentlemen have ventured TO turn propbes up-
OIL the OCCASION. They declare that i'm NH Ills month
Of January the Banks will he compelled to resort
to Specie layments-and that this Deposite o,es
ton is destined to sever the Union. Political Hal
ucination could scarcely have gone further. The
pressure has been severe enough; but we look for
ward TO more cheering times. When things get to
their worst we are told that they begin to mend
According the following stutenen nus of tho last NJ
York and Philadelphia prints, reaction is about to
commence. The moment that Reaction begins
more confidence will DO felt-new funds will be-
poured into the market; the panic will nbate, and
the pressure he relieved. We place much faith i'm
these statements. The "Pennsy lvanian" utters its
cheering notes ut the very doors of the Mammoth
Bank And the an. Y. journal of Commerce." is
paper very far from being devoted the measures Of
the Administration. We spread them before our
readers with great pleasures:
From the Penns yiuGnian Of Monday last
"rHE PREssuRE.-The Reaction is beginning.
panic cannot last forever The Of confidence which
made each man Ishmaete, having reached its maxi
num- Is aba'ng.-The money market In New York is
considerably relieved. Stocks rising The Delaware
and Hudson Canal Company advanced on Thursday IL
per cent P0tfd fe commencement de la fin!
"Tle maenary and greater part the 10 lust
about losing its effect. The mercantile community who
had heavy payments TO meet, have generally met them,
or made arrangements TO defer them until easier time
Somehow other, they have scrambled and are scram
bling through the danger aud the cry Of "woli Wolff!
10 gradually, fosod beginning 10 lose its potencv
"we have been falsely told tina, there il a scarcity Of
specie, and that probably the Banks might specie
payments This ntimaton and the putting the screws,
caused boarding Of the article when in reality there
was scarcity at all Of hard money There in fact
no demand Tor it, As necessary consequence specie
large amount lately received at New Orleans from Arex
Co hnding Its way here. million Of dollars in silver
has been shipped at New Orleans Tor New York. The
european market Is well supplied, and expectation
thither has taken place. On the contrary if this artificial
state Of things lasts the transatlantic superux will soon
be shores. How long then can this bug ar hone
10 continue! Less ihan sixty days will death and
burial.
"The cunning know ii. The stock speculations,
TWO instances TO admiration, and time try the other
tack Instead Of selling time, and running down the
poIcy Is now to buy time aud up. The obbers
have used the panic threadbare So bare indeed that i'm
the instances alluded to- they depressed the market 70
much mat they burnt their fingers by the destruction of
their debtors. They will not about with looks
aud words OF apprehension The tables turned. Con-
6dence will be the cry
"An after all, what has been the consequence Of
this direul pressure! The banks aud other monied ns
tusions firm rocks Two or three failures have
taken place here and about many in New York. Here
Is the sum total Several Of these houses have ONLY sop
ped payment with fair prospect of saisf, to the full
the demands Of their creditors the others will il is
SAID; III almost every case, make handsome dividend.
I'll our predictions FULLY verified the change
the incpient movements OF which evident we shall
see the United States Bank throwing herself the Herald
says into the BREACH and claiming all the credit ON the
score OF her nagnaDimy. She opened her heart! She
took pity on her ubecs She could not continue 10 de-
lend herself at the expense OF her irieds when she had
no more agency ~ the matter than the in the moon.
The course oil time regulates every thing,
(FTom the son,e.)
ny does not the United S,aes Bank demand an in
ves"gaon ny congress- throw open lis doors, and lay
every thing before the wod Such is the course of innc-
cence Memorials and msnifestoes nothing The
mere negative OF accus ed is nothing. Labored de-
iences are nothing They must over,un asserted facts
by facts"
"1he fact that six out of the fifteen Banks in the Civ
and County Of Philadelphia refused sign the aI
Congress for the OF the depostss is care
fully KEEP, from the kno" ledge OF the Philadelphia pub.
lie They are, the Gil ard Bank, the Philadelphia Bank
the Western Bank, the South Bank the Kepsnpion
Bank, and the Bank of the Northern Liberties This
hrnness was not expected II thought that not more
han TWO or three most would have been bold enough
10 lace the Storm Their officers deserve all honor or
their refusal 10 60 into harness."
(FTom The Jfetc York Journal of Commerce.
a" Country Momey.-The brokers advanced the rate Of
discount on Country Bank notes yesterday per cent,
on m EssTn and Jersey Banks and cent Banks
washlghean this The Brokers tell there is no pro.
liability that these rates will continue than two or
three day. The Branch the Pets and all the Banks dis.
counted literally yesterday, and the general
oil money affairs easier that after The
returns are made on the first OF January the Banks will
De able to supply at least all pressing wants We have
Tor ourselves no doubt that within sixty days the mo.
ney market will be quite easy, and that within six
months months u viii be more abundantly supplied than ever
before IL must be So There before more mo.
ney, nor 80 much wealth now Specie il coming in
from all quarters The engagements Of Merchants are
greatly reduced. Every thing will conspire TO creaie
small demand, AMI an abundant supply. The prospecs
Tor business were better Tor the ensuing sprug
Inc attempt which has been made by the politicians and
party newspapers within the last week. TO get up an apa-
uon ahd panic Tor the pose OF breaking do credit in
one Of the most fsgous attacks which was ever made
OH any mercantile community But il has spent it's force
ana aiIed OF producing the damage which AS
" Specie Such Is the abundance Of specie that within
lew days, large quantities OF SpaIh pillar dollars ha,
been ed TO the Banks and for paper money
lie dollars were four months ago at premium of four
ana hve per cent. American gold, which is usuaIlv
Jour or hve cent above par at the brokers' now
worm no premium at all. A gentleman of our ac.
quahtance who was re urning from Canada few DAYS
ago WIN 'hree thousand dollars in American aIyes
was giAu 10 give them and premium for coun,rv
Ddnk notes. anu could not get rid Of the whole until be
arrived IN New York and carried them TO the Bank
uood oiis on England were sold yesterday at 81 Sc the
pound sterling lower price than has paid since the
Bank OF England resumed specie payments In fact The
country was never rich before money and CASH funds
as at this moment. And usion of spe
Gle payment II just impossible would he 10 per
suade The waters OF the Hudson TO turn back in their chan
mel La fact, nobody can be procured TO carry ont
OF wall street. Every body brings il in. The scarcity
Is nn oil specie, but Of bank notes. md is the notes ouIy
winch are wanted. The cry that suspension Of specie
payments was al hand, is efectusy sienced. The agi-
'"uoh newspapers dare no more TO repeat IT,"
THE PRESIDENT
Correspondent Of the Commercial Intelljeenrer
Of Philadelphia, writes from Washington, on tie POI,
ult, that "the President sees con,p,nv IN. uor,oy
He Is In good health aud spirits. He IL indef,t;o,hI,
devoted 10 pnbhc business; and exhibits in all thing.