Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-12-08

IOTN STOCh CO3lfANiEc AM pa -,
Oas of ,:le most interesting articles IN lie !ast
number Of the Edinburgh Review Is t?at on " 'o'"'
Stock Banks and Companies. II Is mol SUI phs:nG. con-
sdsring The similarity Of Inc nations IN fhfP''Sr I
in the nature oi ;lrlr munrla:T systems '"a mum 't
is said OH TIC SUBJECT applies m;; no less force 20 Tie
Ua: j STATES iun 20 ErI gland. t:c may la:2E, Iol
Whole la.os .ha: the reviewer Is describing M Stae "'
thin: irrr astral OF the nia:er Country ia's pen
drg Of tbs, h' a.!icc Is worthy ci attention. '.'ES-
i,ci ll tie Intimate commercial and "ancai re-
l.,Ip,s rx,snr between lie naa':s, 'i' ""n mo
re: ,u1.,y; III promptly an: lcUriT syinPliiz: Win
!,. arrangement, which, acC"@!I II tit !v::S"sr. -
about IL Uacur IL lh.t u. Great Britain.
Tx. reviewer first dNc!is nHGm lie astonishing IA
crcas. ri cn.?a::es fJr railways and o:'s-t purposes,
and !r vaamy high i.5ic"s 81 Which, s"airs ~
3anv hall l"j."J PROJECTS ii his kind ATE S%:!;ng TIE
succss ni the Liver n"ui aud Manchester railway - mol
cursd.e s.iccn. accaEn tuT this ragc !"s new con-
paa's. Tie a:s Of spectators III in:4n'g The FnoG
t.!:.i Tic subject and thereby rnts'nG the price OF
siirrs ia these schemes, and exciting Hloio."
lirs for Spccuian arc well set forth By ,!r wr!leI.-
ia; tie nan.a is not confined 10 Raj road Companies
Joint STOCK associations Tor every naiA"!r PR pose a'e
i,::yd. greater numbers and N l":e open violation OF
cp,;Du st!st than in lci AID >2J-tat well Hno n
era 81! nu:hu@ and l!y. We have the authority oil tho
Chancellor %! lie ExcsqI"c iGt assrft!ng mat the mum
bsr ST its" copaa!"s nov "H Tie aris' i''S 'e S'it
oi inJ, and HAT capita Ui Two Ht*D""b AiLA'cHs
STEALING. IearlY uSE THOUSAND "ILL!oNs Or DOL
LARS: would BE- required 10 carry t.n into effect Inc
LYNX at speculation has cast glance, II not pc-
yonI, least .r as t!se grave Wei: i'nsinihg tat
IN li4 t!ow-up ic! ;ust take place. the ruin u inti'
yidua!s wuuG lead increase OF mortality, numerous
are he associations Tor BURNING. MANCHESTER alone Has
sx q. 1rrSc Joint STOCK tlIy ing coIDpan!es
Next lai!-road scEc:es ana bubble companies,
tc reviewer considers IS the most aCS!c"cs feature *
tie times. general in the price OF all co'ioGi-
ties In <le enumerated instances this Use IS account
ed FIR: 3G il: ; greater number, IL Is teiie'ed 10 De IN
asSqgrnce OF speculative demand, "hic III c"hirc
ton @ tie prevalent eagcrncsS 10 rush into HazifuouS
aad absurd p5nects. is Indicative o danIc!"uS Prhci
~, iair ~, lt
.,Cs U general tXC!tenI:n periods marked oy lem
dsucv to speculation, and b. general rise ct prices,
have been i2 4,s!rd b. extraordinary :acii'ies
III obtaining ioHrv crrG:i, OF beth Ills l., d"h1l
iss all historical truth, aid axiom IN pJitic4! ec"nn-
:Uy; vet, in cJuatry: certainly see great
rgc 10! specua;on and general rise Ut p:'ccs' and al
q: tie s:!r time. scarcity 81 money, ana an au!dGc-
o! Tie usual facilities OF obtaining IT, Gar lai'h
in political ccoroinv, science, las never been
strong and such siu;1:ngb!ockj axe mol Calculated 10
strengthen Il.
There are some .ac:s stated in connexon with the
Barking system o: England, which ncT - u*, a:'a
say that the whole, bad as our sySIri Is:
that oil TIE ylcr cuEni1Y is worse 81 course, we aaHc
only 70 tie private and joint Stock Banks, and E"' 10
II. BANK Of Ea.!lnI From i1|- 10 !s2, 10 az5"ci'
ton i.r the ,H!posc Il bankinG. Eavfr mole !an az
p!,i.cGs couid 0e established III E"g!and ana v s':s-
.r revision U: $50 led 10 repeal Of the !a: al" 10
prIi>slun TO establish banks vita any EG!G'F q; part
mrs. [o saTcinlders al any place not within 10 ';!Ss
Of Lu:Un Returns udde, al stated irF!Has, 81 ne
names ut the af,hudsrs. and The number U shares rd
b. EACH ard eac sh0rchOiScS is responsible irr a" '
iiii,s Of tie institution. The wonder with Us - i'&
any ,an u capita! would b. concerned. under IA. c:
cuinsrancv< Is partner Many n! lie HES: oNte:oSc
shareholders not. in fact, nf caitai; AZ" raE
banks have gone IN" operation VIII! very small per
cent oi tic Capita! Stock pu:I IN. He responsibility
individual s.Ocko!dcrs does ms; to a.: i4'
credit 70 lle b?S Is her" is provision ElG1 Tor ?io
s!!g ho !iry are, ana. lie ci lie cUnnuw!!:
.no~ upon hat Vi !nGT:tu:i capital they
i!7v rely. ~ oi lnr Ial!H.c Of The Company.
tu March last. but 70 l,n sleek b!aEs llu been
established Engiaid and y aes since I'c repeal {! Tic
restriction in i7:t WIKI. during lie r:!"'.s OF iaTcA
April and May Oh: - put III opcrav: ;!2s si!p"-
Jag the increase c! tc rage Tor snc2u.l.n iG?e tla
iuur l!itEs Ct !!cse i!:t strc banks mo!vs, ""G
w!iia two Yeas their circulation has doubled. /! loT;
al.o,!I:s uwarGs oi 3GyD.JU Sirr!Iu% ns c!!c:.
iIi:y:!, pared wiki American 5a;:i s!ilt.
Bu besides e!e an; s-k banks: there are 3' licensed
private hla tlt ls .liks "i MOI lIor titan 81 pat
c,3lHUUu. iiIny j.:il stool. banks have oa:.clcs
c>Gsuic Cis:uucc. Notes are Issued al Tire branch
u. 5.: arc "It:: reGre..Iab:c iiie rm"er bank.
Icre Il C.: operation pTAcilSed by these banks.
;"Cn we believe. Uii!:J%n on ills si"t 81 li* Al
!-nc. a Country ba!a discounts dfaii: or other
cur a;.c Immediately s@E.S Ii up L',ntUa where
II rr.L$cpui;:i ~ Ices rae. and h -" proceeds
i.H"S aH":'c: !:iTcs!"! IN notes. de- WHICH are aga!n
X t3.s a!!cd The process vas carried on, III one
!:ia..NCr - such cA,ru that II raHk, :r nominal
capital q. iU ,ii"n. actually GiSc1untr" 10 Tie extent
Ul i:II!ty :!!.t!i:s D! dollars.
III. a.4il closes inquiry into tic best .irans
9; amending ir t.animg system: and guarding aga:nat
IL" wis threaten the cOmercd! world 81
EHMiI!!, ly:i is gross abuse. We Commend II - Tie
ayIInj ate I!on al nj! wish % be informed
Eiu: important question .-3rt&a.