Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1836-11-12

IL the bank SnOOl0 al any time be so unfOr-
tunate as not 10 be enabled to pay par for its
stock, let its affairs he wound up, unless Con-
gress should think proper to grant relief.
THIS would in a great degree Put an end
to the present gamt ling in stock. and create
a safe and profitable repository for capital,
foreign and domestic, without the interp ,si-
ton Of commission merchants, lawyers, bro
kers, or agents.
The numerous failures which take place
ought not to be considered calamity, except
ing SD far as the parties are unable to pay
their debts; the sooner those who are not
able TO do SO, wind up their concerns, the
better for themselves, their creditors, and the
public.
Collecting together BY the operation Of the
tariff laws fifty millions Of dollars not wanted,
and sending it back to the people at large, af-
ter 1t has heen lent out for a year or two by
the collecting banks, could not but prove
very oppressive, and of necessity produce a
panic, which can only subside with the distri-
button, IN proportion as the mc ney gets back
into the pockets Of those who furnished it,
viz. the Consumers.
To the use Of foreign capital and to the
credit system VIC are mainly indebted for
our unexamPIed prosperity, and to sustain it
we must pay heavy tax; that is, we must
submit to the incOnvenirnces occasionally
incident to the credit system and its concomi
tant, Over.trading.
as regulator Of the value Of paper; there.
fore only 50 much is necessary as will inspire
and preserve confidence.
/ To do this toward paper, emitted from a
thousand state institutions, extended over
the whole cOnfederacy, would require hun
dred times as much specie as would be re-
quired to inspire and preserve confidence in
4 the paper OF a national institution, subject &c
), the supervision Of Congress.
i Much complaint is made about the treasury
). regulations for Carrying into effect the laws
|, Tor the distribution Of the surplus revenue
, and for the sale Of public lands.
i So tar as they have tendency to take ~pe
|, Gle from the large cities and distribute it owe
: the nation, they evince great wisdom, ane
are worthy Ot the clear head and enerpe,i,
. mind Of Gen. Jackson.
r They subject The deposit banks and thei
debtors to some Inconvenience, but If thos,
banks should expend halt their profits, arisin,
!, from the use Of the government money, il
n the importation Of specie. more could be Oh
tanned than they could benc iicially use.
. These measures Of the treasury, rs well a
the discounting the emission of small note
were absolutely necessary to avert the de
!, rangencnt of the paper system OF the int,
. Tor. threatened IN the overthrow ot the I'm
ted Ssates Bank. How else could speci
!, have bren infused into the Ear west and mad
y !. u medium, Of general circu!a.ionf
u In the absence Of national currency sul
jcct 10 the supervision Of Congress, n soun
y currency could not otherwise have been ol
y sained.-(Bicknell.1
(. JNTEREsTiNo AND lxpoRrANr News y.o
X. cLoRipA---DA tiles WITH THE iSaANs. ~
10 Sc'c,p. or Cot. LASE.--Thc Charleston Co.
NJ cros the 26th ut. puts ~ IN possession II III
70 following inter.stlng aud important INTEL
~ Henee from Cloridu:
v. noittcd suicide. IL the SIN If Amos Ian
,r member u Congssss from Indiana.
&c (Cm. WhiH.1
D. An otlcer Of the Tennessee Brigade. e
'ol9aeed y the new military operations 10 Flo
ida, and now u this city f0r the purpose