Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-05-10

ties wines and silks The reclarier of the Bank Of
the United States by Congress, is also evidently within
his calculation for he says that explosion Of lie State
banks is inevitable. and it must be fastened by the with
dl~al OF the whole surplus which he thinks will neces
say put them Ill at the mercy of the Bank of the
Ontcn states. and IFS allied capitalists. And as for the
third leg III Mr. Clays ripodcal system, viz internal
improvements that is the grand petex of his proposed
distribution Congress is appropriate net directly 10
State roads and Stale canals but the States themselves
The gambling for The stakes is to be done in the State
Legislatures and the Lest player 10 win most The
coaiton in Congress- who propose to deal out this
ney to the Sutes thus escape the invdious office Of de-
Gliding upon competing sectional interests within the
States They to Ic the nunificcnt patrons Of the
State authorities, lvying with invisible hand taxes
upon the people, through the customs; and with the
other ostena.iousy bestowng largesses in prouson,
bet without taking the responsibility Of selecting the
objects OF appropriation This is, undoubtedly, great
Improvement upon Mr.. Clays original system of cor
supt influence.
The double panic by which Mr. Clay labors to terrify
the country nt adoption Of his scheme, in
vove variety Of contradictions But this not strange,
The whole argument proceeds upon contradiction of
the truth Mr. Clay begins by assuming that the great
scarcity and distress he complains of is created by the
locking up the treasure Of the United States in the de-
pose banks, and he proposes 10 relieve it by withdraw
ing from these banks and distributing it among the
States AT the time he breaches panic in
thar direction, by taking it for granted that the fine
prices for abundant production, is the result Of the
" ucpOSllc BANKS, DCIiCc argues
that al explosion Of these banks il inevitable. If
these bns have extended loans to this dangerous extent
upon the drpnstrs. how Mr.. Clay that the
drpositcs locked up and lost to The community
and pulc 20 this fact the scarcity of money and the
distress New York and other great points of co"c.
ton, where, he asserts the pressure in proportion to
TIE amounts collected We ask the commercial men of
Boston, New York. Philadelphia and New Orleans,
whether they believe withdrawal Of the dcposites from
the banks and distribution conslgnng them to the State
Treasures 10 await their Legislative disbursements,
work. relieve shc money Market the pressure which
Mr. Clay ascbrs the collection Of the at these
points, and It's being oorded in the depose Banks -
There is not merchant in either Of these cities who
does not know that amount beyond the sum of the
dapostcs is trO~n out by the banks upon the credit Of
t"m and they fully apprized that the calling in Of
the sums thus thrown cut, for the purpose OF distribution,
uIon Mr. lays pIan would produce an instantaneous
contraction by the banks which would increase entod,
instead OF relieving the scarcity complained Of
The panic among tie merchants, then, which MIR.
Clay would ming the aid of his project will not have
its wpned eff; with his old friends. The cities not
be deceived by sch falacious statements of facts and
fra arguments The country is sound in It's republican
virtue, ard viii not BE- Grbcd INTO scheme OF render
ing the States dependent on the General Government
of having the wheels Of State Legislatures moved Ivy
the cogs in the grra, Federal whceof perverng the
great principle Of responsibility, which requires that
those who al appropriate, must levy the taxes.
TIE LAxp BLL.-The Senate, yesterday, passed the
land bill by vote of % 10 20 three OF It's opponents
we're absent The two Administration Senator'S from
Pcunsylvan voted for it instructions from the pre-
sent minority Legislature Of their State. Under other
crcusl Tic ma joriiy OF one III lis favor would
have been rcver*rd.-G!Cdc.