Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-11-18
E,dsHIH'ElGAE.
from tie \. Y. Ertniwg POST
re- CAUSES Df' tkc MONEY PRESSERI


THE CIU$ES Of Ike MONEY PRESSURE.
II is always 10 be expected IN this country when an
thing occurs - create extensive dssatslac;lon tina
spapcr writers, one SIDE the other viii slrv
to turn II the OF pa:y and Te accordingly tinC
in The present instance that the Opposition journals srz
the subject Of the financial difficulties these for de
cIamaOn against the Government, and ascrbe all nu
pccunary cn5lrrasSn 'nts tn the ll-adm:nstrallnn
public affairs. SJne, with singular contempt for The
understanding of their readers dea! in mere geeracs
and in all The out comniu-p places of the politica
slang vocaGulnry, drounce the Administration com
posed II" set pI ignorant " linkcrs OF The currency,
or fraudulent spectators, who interfere with the tinan
cal gcInPnts OF the cHuntry rr the purposes
private gain perfectly regardless Tie vide spread rain
they may OCCASION. In the spri; they call uprI
the merchants to close their stores and cou;lng
and 20 out into ts streets political missionaries de
voting themselves rxcns"ey for the next twenty dag:
10 the buslirss n recoMcrrins will, Of putting
down corrupt Administering -rvhiciis forever tryin.
high handed experiments with the currency, and OBJ
s'ruclin. the OF COMMERCIAL prosperity. The
day has seen when The mercantile men Of this commu
nifty suffered themselves 20 be n ,iEcd By such appeals
and ac;rd in pursuance o.! such advice. But We lrus
hat day Is past, never 20 reiur1.
Another portion Of Tie Opposition papers, with more
aspect Cor In" intelligence ui their readers cndcavor L
GRITTY their charges against the Administration b. ct
Ianng the I;Ipdr in which they conceive Ii 10 b. the
,utur vi The present difficulties BY some o! these, all
he cnharrnSsrnlS of the money market traced Ia
he order Of Ike Treasury Department, requiring pay.
ncn for public lands 10 b. made in specie. THIS may
10 well to be urged by those wise jour
alisls who ready TO shape their political ec"no
~ - the rX!gtncirs Of party; but will hardly satisfy
radrFs Of rGch intelligence is to demand that the
shall bc adequate to the effect Any who will
.irr thr 81! rhrs attention to Ike statistics OF the land
'aIcs and VIII, will reflect what vast amount of pur.
.hnsc an incon,i,rrabr IN specie will pay, IN It's
necessarily constant and rapid circulation from The land
flee tI. ncigh1oring bank, and from HE Bank back
III" land O!icr must be perfectly satisfied that the re-
;niat!un in W:rS9n Cannot have had any perceptIhc
fleet in producing The general financial pressure now
experienced.
Irrc Is Il tlir! class Of O2poo3 writer's who, like
The others. iiputmg al! the difficulties 10 the Admins
tra,ion yet ad out entirely different, and much more
adcuIatc cause. These Npuc it entirely To the Urea
sury orders issued To various banks different parts oil!
the Union against The public funds collected on depos!te
in llr banks ii this city. By the natural course Of trade,
New York ,r grrat money market and stofchorse Ut
bullion for tie entire cont.drracy. Al this port four
ii:lhs Of the Whole t The country collected,
aud would here accumulate, aur'!.mg Substantial ba
sis of credit and reciprocal accommodation To those WHO
pay il. were It for that irring with the currency
which subrert= the natural "rdr. # things. /" t!!ls OK
tent We sincerely ~ with these whu are dccIahrng
arai.Sl the nor, u,pnl. We agrcc with lrn That the
condition at arirs established Ivy the laws OF trade,
Il d:rangrd ny government interference ana mat t!is
TcSHry ord,r&, which have The effect 10 cause sudden
dispersion nl Tie public funds accumulated III THIS city
and To dram i!, specie from the va"s ot Our banks,
scndIr il hCi aud lLilhr aud for tie, entirely DIES.
trnyng lis Use, foundation Il" c"Im"rcI' Credit are
the Immediate Of tn prevailing dstrcSi - lar
the Opps!i writers have our concurrence; pHt no"
one step bcyond b.causr further than ts they are no.
supported by nlh Let US !oni; calmly at The Ics, anu
see where uSIice must allac!! the hiaHIc
The CON p,tu Is thai Mi Won'!uary f;rccieo per
has by the Executive, Issues treasury oGerS l" oihks
at distant points, which ;ey present :" The banks
in this city, il many Gcn1nd!ng specie; thus com.
polling those institutions suddenly 10 rrrcnch, and
SPREADING Consideration and ruin among the merchants
The banks themselves it is further affirmed, II payment
OF these orders should continue - b. demanded III spc
cr, w h." exhausted Of every metallic doIlaE, anc
Obliged to suspend the redemption Of their notes We
very much fear that there Is rXI-railnn IN all this
But where LES the bIaE:c: We not content 10 STOP
al Mr. Wo,dhG.y, and shower mndrsccvrd "b'"qny upon
h;n; We Garnet c!arg.' it H. Gen JACKSON; for W,
haze no warrant lur ,ercvn. he would assnEe such d
fearful responsibility. We 60 further iian this: wc go
To- tie laws Of iie last Congress- 80 - tIIs" enact
cts hich make IL Gb!git"ry on Tie iIrasHFy depart
nlent 10 acl as ii is acting; which leave 1t l" dScc,"h
which compel il to drrnngc the currency, to b:raN ny
the foundations of commercial credit IN this great city
and create all III; widespread distress when, III l'i'
end must result! trcln the proceeding One step farther
will show Us the rmin of those laws; ana there we be
hold The very men who !he ioudcSt and anges
disclaimers arailst these consequences The very party
which is rnLca yoriug convert them inUa fatal weapon
ouu,s their opponents. To The act regulating the de
posi,rs Of public money, aad more pGrltr"ary to IN
suppiratntary act, passed on The last hStS!4Hcc aay
tie SESSION, iLnpgtc I'LL Inc mtSc'tJ
Both these acts were Conccycd and matnrcu, ant
carried into effect by the Oppos"n, aided by sUch go
,uuiSalion members rs they could deceive Win Inc u
usoy promises OF advantage Which the measures h'''
o.u the spirit {" sectional iapachy lhcy cunsuef'
their CARVING them great party triumph. II"y lax
prbI;c rp,c:us on the uccasnn, with discharges III ar
ilIcry buuirs and all tie 81 cctcas OF such election
ecIing pagran!s They now behold the result OF IA
,hrr thc rOmncncrntm n the tEd he irnN Is OF th'
tree Of lrlr planting; II It Is bitter, th'y nave 'he
rlrrs IT, thank.
We assert that the Secretary Of The Treasury canno
POSSIBLY act otherwise than lie Is now acting. ll'
DOUBTLESS secs and knows: and iaens the c"isr4nrh
:cs of tn" orders issued from his department: nht m IA
no power withhold them. The Ptcsicrn' % the III
ted States has no power 10 forbid their eing issued
It is done in plain pursuance OF the posture provision
OF the iepositr law and lis Supplementary rarr-ia"
devised by The nrIstocrlcy, carried ny Tile
rcinced i by the arlstucracy. Fam wnGa Inc FiPs'
dent have inicrposcd his veto, but they were mace
assume such shape obvIard The constitutional u"
lection and in thu dcl0sinn OF the moment u" NAV,
Of the Drmucratic party had joined 'hr,t ,.s
render such step OF any avail. Inc Sf''S "e.e
-siUud with a strong prcscntImrnt, or r"l't I'e
fnres,rEl Of the evils they would OCCASION ana LIE even
allr,Ls another forcble illustration OF The Sasac
of that great whom the people IN hapPy ""u 81
| ccicd 10 guide the affairs OF State O'ner "'f''''
voicrs ,rcud the ruin That would rnsue Inc Ve'3s
Mr. Van Rut.u were well known as lire time, anu "er
immediately after very clearly r&Pressen' 10 c ''
of REPRESENTATIVES Mr. Canorcieng raised HIS a"o
tory voice. aud predicted the very STATE Of .lngs WIZ.
now exists. Be-, all in vain. The Oppos'sIol dt2"ht
circumstances with camor They won to lhe'T soe So
,ion,I pol,ciaus y the hopes which they rHci'en o'
cal advantages They carried the measure e: and no
, .er Ln hose who opposed, as VIII as THESE VIII" SUI
porird The mad, corrupilng scheme. be who't pe'p
feel the effects, and doomed 10 iee' ll'.n WIZ"
| rrcorer intensity before many months are past >,
Tbc supplementary law TO which We taye aAHne
rd.,s !, the duty OF the Secretary OF lie treasury
,E .:,ransiers from banks in enc State or Territory
hanks in another Stale q Territory 'rhcncrer Such nm
f,s may be req1irs4 in order to prevent la7se anu
couvrnieu, Accommodations III particular Places or IN
90 Lcr 10 r,oduec dnc tqray Gnd just rr0poritoHr =
= rrdnr to tie prori<ioas IF s1m act -aameIy, Tie
u,,si,e act. The educ proportion and just equality
guited by The provisions OF that act is division, On
isl of January NEXT OF Inc surplus revenue a,o"s