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

way of The circulation ot gold ana SILVER.
The r.itcts Of extension ri bank c-rI.a aud oye.
Issues OF bank paper have been sriknHiT illustrated il
tie sales 81 lIie public lands. From The ,lorns m,t
by liz various Registers and Receivers ;ss earl; lar,
of last su;ni"r, pprCrved that TIE REGENTS are
ing from The sales Of the public lands. Trfe inrr,as;r
10 mr. unprecedented amount In effect however tbc
receipts amounted 10 nothing Than c;.Ei,s In bonk
The hanks lent out their notes IN srculars they were
pa The Receivers, and n.nedtl;eiv 1rned 10 tho
banks be lent cot again and aga:-, S-sry mere ~,
strumcu,s TO Transfer 10 sprcu!a.1.s t: .sosl valuable
public land, and pay The Government by spG, ON ;ho
bcuss If The banks. Those credits he S,oAs Of ,or
vfthe Western banks, usually called dpos:4s were A.
ready treaty beyond their inmrdis'" Of payrocr,
and werc rapidly increasing Indeed, s1ch srci,,,,,'
fur nscd lnc8ls e.: another; fJr, s~,cr had ON. IN
iiyIduul company pad IL III" nE;"> *la they yrrc
Immediately ant TO another for Ike s3rpasc and IN;
banks extending their business ans, t.!r issues -
ar.,rv az 10 alarm coDs!de:a!c men, ar4 arr t,rr
ul whether these Iuuk crcdS, II pcrIi:v4 - Srcc,,
late .wuud ultimately be of The least zs!gc u .h. (;n
scrnincnt. The spirit Of expansion an sYCcraen ~,
not confined 10 lhe tepostc banks IN! petyadsS II.
Whole multitude q! banks throughout ,:!r lnir,, N,
VA: giving rise institutions 20 aggraya. Ii. rv;
The safety o; the pubc funds and The a,srrs, q: a.,
people generally. required That these operations sh
h.. checked; and 1t became the Gu;y ,yrfr h:aac, :
the General and State Governments 10 ado,! all Ir,.
mate and proper means to produce ihat sajoaty !,c
Under this view Of my duty directed !!.e MN q, m
order which will be laid before you BY The Spcr",?;r e
The Treasury, requiring payment for The pEb.c Ind,
sold Ia be made III SPECIE Will an exception uU'
l3:i OF the present month, III :avu! 0 aetna! svil,
This measure has produced many snlutary coUy,cpo
ces 1t checked The career OF The Western la!s> and
gave them additional strength IN anticipation o.: H..
pressure which has since perrndcd cur Eastern ~,
as the European cOuulrIcIal cites. By preventing m
extension OF The credit system, it Incasurb CIT 81 II,
means OF speculation and retarded lis progress IN H. NO.
po!izng the most valuable of the public LANDS Las
tended to the new States from resident u,o
rrctoTsip. of the greatest obstacles the atYac,
nj NI 20 al am nd
L. has tended TO keep open the public lands fox ra'r h
eEiiIranis at Government prices. instead %! lg Lrr
corpcIcd purchase OF spectators du",ic O. urpr
prices. And II Is conveying INTO the interior arur s
in silver and gold there TO enter permanently ro u.
currency ri! the Country and place it frazer .or.
da,ion 1t is confidently believed, that the County VII
find in Tie motives which induced that oIL,r aid lie
hapoy consequences which viii have rnsgcG m!cu |,
commend and uolEig to condemn
Il remains for Congress- il they appruv" ti" pole?
which dictated this crdrr TO o.ow il up It's varioG.
bearings. Much good. in ms Judgment. would he ,:o.
diccd. by prohibiting sarS OF ir public lands eyccn,,
actual settlers ut reasonable reduction Of p:cr ana -
Limit the quantity which shall be So. 81 them Although
il is believed the General Government pu1ilt IL
rec,ve any thing but the constitutional c"rrcncy IN cx
changc far the pubic lands that point wom.d tr o.! .:;
Ipunancr il tie lands Sold lGr iIuicG!u,, s;:.
m"nt and cultivation ladrrd, there is scarcely .s>.
chIet arising cut 9! onr present land system. !c,uds
Tie accommodating surplus OF revenue, which ~3s.l
be rcrdlcd 1T "mcc Ivy restriction on II" sa!r$ 10
country in general aud TO Tie new States IN particular,
winch canit"t fail the most pgoiuunG Console
rnil"n Of Congress.
Experience continues realize the expectations ea.
craincd to the capacity of the State Banks 10 prroa
the duties Of fiscal agents for the Government 4; TIE
time o! tie removal of the drpositcs. 1t WAS alleged
by the advocates Of the Bank of the United States
the State Banks, whatever might be the regulations o.
the Treasury Department. could not make the Transfers
required by the Government, negotiate the Gyi"c,c
exchanges of the country. 1t is now well aScrga.@ri
thai Tie real domestic exchanges performed troU- Gs
counts, by tie United Satcs Bank aud lis lwsnry IKE
branches. at least onrthrd less :an those at tie
drpuSitr hanks for equal period Of time. and Il
parIsoH be- Instituted between the amounts al TTcr
rendered by these institutions the broader basis "c
has been used by the advocates vi the United States
Bank in estimating what they consider the domestic
exchanges Transacted by 1t. the result VII! BE- Sl" st
favorable to the dcpnsc banks.
The whole amount 81 public money, Transferred /!
tie Bank of the United States in l-}2, Was SlGHil@a.
The amount transferred aud actually paid by The G"?o
site banks in the year ending the st u! October last,
S.y,i) 49, the amount transferred and pa!d b..
tween that period and the 9TH of November, was -.
$4,000; and the amount Of transfer warrants ouista"I
ing that day, was l4,43O,OO0; making an aggregate
Of $1 Jos S1i These enormous sums OF money Inst
mentioned, have been transferred with the greatest
prompude and regularity, and the rates at winch tie
exchanges have been negotiated previously 10 tr pas
sage OF the depoSlte acl, were generally beo" tHse
charged by the Bank of the L. States. independently
SERVICES when lar IMAM tL''t iC'
dctcd by the u. States Bank and lis t%cny ivr branch!
rs, number Of the depoSile banks have. viii! con"
nendahie zeal aided in the improvement {" The cuIic'
cy. and imported from abroad. at their own cHp'ns.
large sums OF Ike precious metals or coinage and c|u
la(iJn.
In the same manner have nearly all the predictions
turned respect the elect al TIE removal -! The
dcp0sltcs-a step, unIncsonabIy necessary to prrv9"
the evils which It was i'rcSecn the bank SrI! "oncn
deavor TO create, in final struggle To procure renewal
oi lis charter II may br thus, too: degree, "th
tie further steps which may be taken TO prevent h"rI
ceSs've issue Of other bank paprrul is 10 be hop
that nothing will deter the Federal AMI STATE "E
lhortIcs from the firm and vigorous performance 81 li
duties 10 themselves and 20 tho people IN tins reSpccs.
IN reducing the 10 the wants Of ihr Govern
m"nt. your particular attention is invited 10 those ARK
ccS which constitute the ncCesSaeS OF lie. he guy
salt was laid a tax. and Doubt Coninl'
ed TO assist in providing for the payment OF the war DEBT
There is article, the release U which from taxation
would h. felt 50 generally and bcneiicIay. 10 TINS
may be added oil kinds Of fuel and provisions JIs'!rr
ami bcncvocncc unite in favor Of releasing The pr2r
cities from burdens which not necessary 10 '
support Ut Government, and tend only 10 increase
the wants If the destitute.
Ii will be by the report Of the Secretary Of he
Treasury, and the accompanying documents. thai tt"
Bank of the United States has made payment &C.
count of the stock held by the Government III that ~
s,ilution, although urged 10 pay any portion "h'H
might suit its convenience and that il has gwen 10 nj
formation when payment may BE- expected Nor. A.
though repeatedly requested has il furnished III" "''-
nation in relation 10 It's condition, which Compress a
tIoscd The Secretary collect their las session.
such measures within the power Of the Ex"cu''r
have been taken TO ascertain the yau" of the Sloc ana
procure the payment rs carly as possible,
The conduct and present condition Of that BANK, ara
the great amount Of capital vested it ny tie t. S!a!c''
require your careful attention. Its charter expired o"
the Sd day Of March !as aud il has now TO power hI'
that gwen in the 2ist section, the corpora"
name. style, and capacity, for the purpose Of suits ~
the final settlement and liquidation of tie affair; aud &C.
counts of the corporation, and for tie sale and ds
ton Of their estate, real, personal, and mixed bit nj
for any other purpose, in any other manner w""l'r
ever nor for period ycecdng two ycnrs after ier1'
ration of The said term Of incnrporatinn. Before tx