Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-06-21

lhey did not expect TO receive Government dePosltes
and might possibly be thong important to their stock
oers and customers % be Informed whether, III case
OF failure or insolvency. the priority Of the u 5 would
prevail as IN other cases. TO the postponemen OF all other
uTots ana claims 1t is certainly my opinion, sir, that
we are running great hazards with the currency OF the
county, see no we'll assured reliance for its safety IN
TINS system OF deposte banks regulated as we'll they
may be. Nevertheless regulation is necessary nav it is
Indispensable; and present benefit at least would
arise, am persuaded from the passage proper law
The general import of the declarations Of Mr. Web
ster, contained in the preceding, leave 10 the banks
themselves 10 We consider that he has made
direct attack upon heir ability and reputation There
Is one thing. however, contained inthe above. which
give in capitals, and it is THIS: :" IT MAY EVEN BE
DOUBTFUL, In SOME CASES, WHETHER THEY,
Uhe depose banks,) CAN LSGALLY BIND THEM.
SELVES IN SUCH sTlPuLATiONS AND CON
TRACTS As WE PROPOSE TO SUBMIT TO
THEM Then why exact such sPula,!ons but for the
purpose Of breaking up the system,
Mr. Webster Seems 10 think some benefit will arise
from "Mc passage Of proper ln'c.
Now, We suspect, tina. what would be " a proper law
il the estimation of Mr. Webster would be an improper
law in the opnan Of the people No law could be
proper" one with MIR. w, bot such as would lead TO
re-chsrterng tie Dtn oe:ie United States, and break
ing up of the depose system. We doubt if the people
will ever acqncscc in this construction of whats "proper
law could be.
We will go with Mr.. Webster TO the amount Of spe
Gle which l-Gepose banks shall have in the aggregate
But it is Impossible that, under all the circumstances
each DlHE SHOULD al times nave the proportion IN us
vaults Many Of the dcposite banks for the ppposc OF
accommodating the community, have issued notes pay
able ::cir face ct Other points than the place from
whence !ssned Others; ard Of the deposte banks,
leara have, for tbs purpose, enlcredno agree.
merts to redeem their Estes secured in payment OF pub
lie dues ctpoints where most OF the public revenue il
required Re pa ced f public disbursement Yet is this
p:b.G accommodation 10 be broken up BY the require
keep the specie in their vaults, in place OF
hayug at the places where the notes OF these banks
wfl bu rPQuired 10 be redeemed!
intl69S whsn Of the banks Of the country haG
suslf NEED specie payments, aad while the reselhono
he Glh os 4 pr of that year under consideration,
which related enforcing return OF specie payments,
b. collecting tie in specie only or in the notea
CT .speee- paving banks, Mr.. Webster fo giving all
pcsr the SUBJECT &c thsSt ,reaEy CT tie Treasury
1t that Officer who, IN his opinion, then possessed
tie power 10 effect the task, "RErrEn THAN ANYBODY
Or EVERYBODY ELSE.
We in favor Of careful regulation Of the dePo.
cite system by Congress- bat opposed to the schemes oil
gsc!s inen as Calhoun and Webster who from e. hos
tiy 70 the plans Of the President, and their devotion,
my suseryrncy 70 The Bank Of the United States, can
suggest any legislation upon the sehjact, but with
rir:~ The miscarriage IS The experiment. They are
logger capable Of patriotic feeling They are tho
ierIers Of bark interest, at WARMTH tile public, ana
they only succeed when panic, arrangement, and
mischief is aoot, ard the great mass THROWN into COM
fusion to become the prey of hungry pro"iers-GeOs