Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-11-15
From tie .Ncar Iork JUmrnaI Gf Commerce.
Tllh ,rRA NSk,ER DIR E"l'S Nc


When Messrs. Grsi"old * Swan undertook their ro-
luntcer trip Warrington, to see if some change could
not be Erected i'll the management OF Inc public lunds
by whci, the pressure the money market would be
abatcd or at least prevented from becoming still more
severe thew uust have either forgotten that The election
was close at hand. or have made up their minds 10 incur
personal rtprnach for the public benefit it wGs how
ever easy urcsrc that both The ilvcs and The cxecn
ton u their mission, would be nQicd upon with ral
Gus eve By politicians. who, h.;ng themselves absorbed
in the calculation OF chances concerning the election,
scarcely imagine measure which hy any possibility
be tortured connection with Eutca, 10 Ur Tree
from political aim Accordingly, reward for their
services, the two gentlemen above named have bcen
sailed in various quarters, with all sorts OF abuse, when
in humble opinion, they deserve the thanks of the
community, and especially Of the merchants. We know
sonnet thing Of the circumstances which induced them to
pr. coed TO Nashngton, and, from what we do know,
prepared TO say, that the measure was highly
nrccsSary, and has been productive OF much gond-
In other words that the facilities afforded ny tho
banks although far less than could be DESIRED have been
far greater than they would have been, but for he visit
OF those gentlemen To Washington, ard It's results. The
banks have duties which they to themselves, well
as to the ruhc and although they are generally stiOng
yet the improper which making of Govern.
ncnt drafts, contrary 10 the wishes or intentions Of The
department, almunislling them Of The necessity of
further curlailmcnts. Now, when gentlemen, whose
connection with money affairs enabled them to see, that
without change in The course Of things, money
must become still scarccr Than had BEEN by OF
further cGrlancDls The part Of the banks-lc their
business anu CHCpuHtItu journey Oi I'VE HuHuIeU
miles, for The sake Of obvialng the evils in pros
prct was it an which deserved be visited upon
them with hard locks and personal rcproaches,
of which they will nave TO he proud. as long
as they live: What say the who have shared
in the 80 per cent. increase ct ds nts OF the
banks bryund the scale TO which they reduced in
anticipation Of continued drafts for specie are hcssrs.
Swan and Gzswod worthy Of DEATH for thus being the
instruments of your accommodation We must com
pare rhngs, with what could wish them to be,
but with what they would have been, had nat the
rent OF specie draining hecn stayed To such an extent
this draining carried, thatin the course OF few
weeks prior the visit of the Two gentlemen to wash.
ingto the of specie in bank vaults was re-
duccG nearly half Was it right tina! they sliond
endcavor the process, mas it wrong: If the
draining had continued, the banks must have gone on
cuitany, aud the state of the money market would
have become intolerabe. Would the merchants have
thanked Mcssrs. GriSwold and Swan for such result:
they would not then let them not blame these gentle
men for attempting 10 the drain, and enable the
banks to continue their accommodations.
Here will stop Perhaps this delicnte subject
we have said too much already. But could not look
Oh IN silence and aspeIsed for generous act,
winch We have no doubt had little connection with
Po!cS III 'c'r minds, it had with popery As TO the
particular wording al their letter. the which
they inc scarcity Of money, there may be dl
ferent opinions, withou, treason on either side