Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-11-08

,''"s.ts Id, and glorious ''''o', - A'e ~ f>''"
,s,. ycG r,an; subjects mast engage the attention
SCNt:"' ,oisature which demand also your seri'
Of yoG ;-,iivn An Increase OF Tie ounKihS capta
o.$ Internal improvement ~ the STATE ana The
s;s't"' :" t. shat! be made # that portion OF tie
,,i'' i,.;, .!.al! fail share under the
pas i ,>s fer It's Distribution, are all matters
sat: " ., cnaracl,r and lave their peculiar vola
{, lien, a;r regarded with lively feelings by
rs r,ri!,< al "ur people, IL me only "''a!ls "i
td,T' :, .,,i,l.l -. The State; and surely nul!lins
i:i ~; An: a,.,Di",! with greater proprGrty, Than
Gu l'a, =, IS .iar!y IL liz: SMALLEST degree To
a. 80" -, ct laai eur state is ia declining
has" ., her rn.u:nvrcc is lang ai<hinE. ---!.c
her cnrrg,cS i'ara!, hrr fields ln,-
t.. " an! .r; population and labor daily tursaking
Y'''iH ,.,an:i.!cs. facts which cannot escape
Is 5.i. q: tie most SUPERFICIAL and such Us must
/, r,.,,p;aHfr reflections 10 every friend OF his
30" N,S, ;E,. st Eysa! I'Srondrucr which these
-. vg,,. Y:aoUcr. whilst ,Eany large srcliuns
n,,, aIc saasu;lc aiL Confident that liberal
- : internal Improvement would have the most
- :a tct> ia Frightening Tins gloomy prospect
",. AM. crr!3.n class Of our citizens have been
-. ,n,- cr.ry.aH ;, and point 10 banks and in
-" IA. ,lt capital Us The HE giving no5trGu,-as
'.." ,.,.rra which alone Can these disorders
1T ,,r.!r orr whale sy>;r:N;-as the omn!p"tcnt
- -i,: ar, To- load uur fields with golden iarvr$ls
t-'', uur markets with treming industry The
.ti; address forbid serious inquiry into any
."" sous--tut fear II Will be found upon /
" ,;:naa;I that all these evils have their causes
',e mach deeper toun&ai!nii.
st t!..; an Increase Of banking capital can add
..,...;y p: HE STATE seems 10 me- ui all Others
''' iar>t visionary ANA ch!Inericas. Except The
,, IL the ttW!:S, i!ic CH:v argument upon WHICH
.~,: ii SucA measure rely, is the assumption
l. ,,.rz ynI lry,:lS d, not flourish like those 10
- -, and mat that difference arises from the great
'1 ,,; 81. Banking capita! with Them than with u.s.
%.... &s.a.Gs and assumptions. however, the m;sl
p1.t,, t!c!s ana Tie c.earest reasoning are 0p:
% Tg;. ;rtvsgrg:i: aud happiness OF every c0tnnu.
f.,.. :.rsrssar.iy t:,iand upon the Of lis
" .,u: .u1 .!:2n:.r is ouly valuable Oh account OF
..,r;, Il. decreasing that production. by serving
IS II exchange: and making ready transfer
;y,. g one .aE hI"t:S !uI those oil another 5,
-. $50 action labor th2t would otherwise have been
.., and siyyS activity 10 That which would have
motive; liiA witr; il shall lie in sufficient album
.,,,,loy the whole lairr Of the community, and
- the produce f that labor, il Will then have
"., Is fail Gnu;a OF! services III the production OF
- ~, THIS IS the whale use or value OF money-ot
: ro,.y-ruii amI silver and surely 1t cann"t DC
.,! :i:.: G!..a paper, wc!! is the represent
49,. Il ,al..y CA! d. any mnrc. ut must be here
s.,, in n.iny thai: atn speaking OF the amount Of
.y necessary for circulation, and not the queS-
, M ;her ggye" n.as mol be prni.aJy substituted for
@ .L y:rir: his is altogether different question:
me s;t of tie ca!rcnc, as to excess or dehcle IL
- ,.r awayS BE- Judged Of whether 1t consist CT paper
-G:"i2. PRICES OF w
i, :, superintendent currency, prices are invariably
... and wh,n 1t is deficient, prices are low. And II
=, a:iy tbs p:Inc pie 10 the present condition oil
r.> r conclusion is irresistible, that there is at this
t a redundancy Of paper IN the market, rather than
.. ,.a:y:-iur, lie prices OF Ill kinds oi commodities
.e .!ta!S.jiy high ana have been high. Tor several
4t.:< past
IN. Inc G,w ans, circulation of the precious metals
;.s sill n re- sure and uial;:lc criterion, that
i: is not that deficiency Of barking capital, which is
8, eurh co:i.pai!rd Of Il is law, invarable with
,e:ry - ~.lu water. INA. ii will find lis level And
W.c tie currency CONSISTS partly Ot coin ana partly VI
,,s,! Convertible into conn., whenever redundancy OF
,5e- takes pi2cp it never fails 10 Danish immediately
a circulation proportion Of tn, metals, equal to the
o.; ISSUE. Ii: such proportion exIst) which seeks EN-
raan, abroad and is directed to those places where
+, n greatest demand. And by consequence 1t tot
la< t.a when there is derirmcy III bank paper, thai
cracv viii readily be Supplied BY an influx OF The
rls: Or in our case from intimate connection Will
- -,a:rs Of the Unipn hv influx Of bank notes from
i.s States But nothing OF this sort has taken place
v. *: and 50 tar from either being true. 1t Is wei
kagn That IN" large amount OF specie which was IN
.-s: II expectations 81! deficiency which wo'ila en-
IL. uaJu tie winding up Of the Bank of the u States
as GI 10 be useless and uncalIcdio by any real de
r.i and has consequently been c.shipprd o! burc'
T. ,g :4u;s Of the different banks through line country
=: LA. nuiw outstanding HE efforts n the General u"
rcta: /" place the currency upon subsanta! basis
lining large IL the mint and throwing l':em III
Deterioration. gel the moment the gold coin makes IT
s;arancc. il seized upon by our banks and snug!l
l.. away their Golfers. II is also TACT equally wei
s,srnci, that the notes o? our banks enter much more
r INTO the circulation Of other States than the notes
o. y States do into ours. Could these things posi-
t?r.s il! there was deficiency ofbunk paper:
-, the argument drawn from analogy. that some o
Northern States have larger amour! OF banking ca
. than We have and that their great prosperity Is 10 b.
a.5 % tina, circumstance, is necessary, III the frs
s" tia: The fact relied upon. should be proved 10 d
IT,. otherwise, it is worthless. But, admitting the lac
u % r&c. sill, nothing can be more t4ilaclouS and de
c'1, u!A Iii" argument No t'To things can be iHo
To- e ,ln cur situation and tlr!.s Th" labor is con
l1.r v: grcat skill and ingenuity, willis. the proper
la which rX;ss between their pritablc and unpF"lt
a. cvNsGl:rs is just and iir rs can proba1.Y eAs
&Gg: TIE present cnaGOn OF the woF!"; ana, acCoTu
- j.. lind them the most en,erprisng and prosper
people ia existence. Their production is rl!cnse-
r!. rs Urrcs rxha,:<!rss. Oar condition, OH The con
tar Just the reverse Of al ,hiS for labor with US
directed ~ skin whatever, and but little Judgment
Wills; tie number Of oar Improbable members is Iarg
%idISp"p rrMr. Add to all this the ncaicuaD!e al
4:2@e which they possess over us, IN the extensive
t:!o! nrnt o. machinery, y which they gain all amour
u Protection equal 10 the abcr perhaps, Of some hun
@;'s q: thousands of iiliridualS-an advantage when
r".rr "ur circumstances, can never obtan-AI ue
U..oS Ii:ciUrc. drawn from the amount OF BANKING
c:it'... existing and protiiaby employed aniHng them
~$; Dc deceptive. len attempted 10 be applied TO US
.ecs'": The: are prosperous and wealthy, and have
~ Un, Of banking capital. TO suppose that ina
%: he consequence "! it. is to Es;ake the citcc
=; the cause; and Is equally as absurd to conIen
&', IL shadow ?g"duccS the substance Their wea'!
i nj IL rS4it o.! their banking capital, hut The ca us
ct Il is because 81! their industry, economy an" ril
:sc, 'li: their Production is great; ana consequent
!: e araurt Of their !nonry must also be great IN or
or 10 c.;caie It, whether that money consist OF ban
iS or Il" metals. The causes If dulIn"ss in the mar
">l: and ii The langaidnrss Of commerce. are AWAY
'&'2- t. The scarcity produce II there were t1u
sand balr Of cotton a thousand barrels of oar, and
hEeG !!n.ea,iS If tobacco going daily lnto the OK
q kei'no:L, 60 you think that we should hear an
oirs nj; distress !rn,n the rfchants Of that city
can il Ie believed that il there steady trade OF ma
"'"i 10 That Place or even Norfolk, there would not
oeisi suliccncy Of money to purchase ii? II won!
clr f"Im lie four corners o! the globe to meet IT, nu
il J'vCusc there is such trade it is because tier
is but s!aa amount Of snch things that money