Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1837-01-19

So :ence q i= nancy haa teen taken from places OF
active commercial business. where il was much needed
aud uii used: car:r: % places w":e IL WAS Hoi ncea
ed. AID c.U.t mut BE- Us 4.
The a.rla.!,.7a Stale oi Indiana, f1g ample IS full
o. .i,".e; ne higUty commercial and n'aai iciH:'"&
Siar o Mass ac!utts is severely drained In the n!ran
TINE the money in Indiana eHaHO be used II Is walt
Ing for the lew year. Tie moment the Treasury grasp
ii l loose from it, will tend again 10 the great lnafS
OF business that is say the restoration OF the natural
state # things will begin TO correct tic evil OF arb!tra-
ry and artificial financial arrangements. The money
Will 90 back TO the pHces where 1t Is wanted IL wiii
seek It's level and lis place of usefulness In my oP!n-
ION Ike proper execution of the opposite law did not
make il Al ali necessary for the Treasury order these
previous local changes The law itself is not answcra-
bic for the Inconvenience which has resulted when
the time cac Tie States, OF all Of them. would have
been glad 10 receive the money where IL was lley
wamtrd but order Tor it. They desired no carl!ng-
Can any thing be more Pcp"scrous than 10 lIan3er
specie from N"w York 10 Nashville, when 10 4 man
i'll Nashville specie III New ] ORR is Two per cent more
valuable than if lie had it in his own house: There IS
always tendency in specie net actually IN the pockets
Of the people, towards the grcu! nas and places OF cI-
change. Those WIN want il: want II there There Tie
great transactions cfrommecc pcr!"ned and there
the of those transactions naturally exis'; SIMPLY
because there they required Now, what reason was
there for disturbing The revenue, thus lying where il
had been collected, and TINS mingled with The COM
nrrcc O! the country; Why laGOrlousy drag ii off, far
from It's place of useful action to places where it was
wanted, ana could 10 guod, and there hold 1t UNI
der the key OF tho Treasury:
This anticipation Of the operation Of The dePoslte law
this attempt al iocal dstribuon-ts arbitrary system
Of transfer which to forget at once the neceSsl
ties Of Commerce, and the real Of money, regard
the direct and prime cause OF The pressure ie ny the
community. But he Treasury order powerfully in
ud Of this This order checked the use OF bank notes in
the WrS and made another loud call for specie. The spe.
Gle, therefore, is transferred To the West tn pay Tor lands;
being received for lands it becomes public revenue, is
brought To the East for expenditure and passes on It's way
Inn solS lin
same way to return again the East Now, how does
all This improve The currency: What fraud does II pre-
vent what speculation does it arrest what monopoly
does it supprrss, very much mistaken if all this
docs enbarrass the small purchaser of land much
more than the large He who has fifty hundred
th"usand dnars u lay OUT may collect his specie, not
Wilton! charge, 1t is true, but without very lea-
~ charge But if There be a man, with hundred or two
Gyars waiting take up Il small parcel for actual settle
enl. and his money be in bank notes, and the bank per-
hHps, al great distance, what has he TO do lie must
send far /" exchange little money or else lie must
submit TO any brokerage which ne HAY find established
in !he ntiehnohnud ol the land Office Upon the local
uprrao:, of This otLtr. however, say the less,
that point Western gentlemen are better informed and
better ,Id-"S.
am wiling TO hnpr. sir. and indeed do hope and
bci""r, that when the first payment or dcposIr under
tie acl Of last session shall have been made. ad the
States sI.ai have found and employ icnt oi
The money, aud when this unnatural transfer s,en shall
CEASE: money wall seek its natural channels, aud
me cia business resume, measure, lis GCcIiStu!
&c habits Bat this Treasury order will be disturbing
agcnl every hour is suffered 10 exist. indeed
not b. allowed 10 exist long 1t is not possible That the
West submit To- measure at injurious and
50 partial Hard muney the land ciicc bank
nj The custom house. must make men open their eyes
after While, whatever degree Of political Confidence
w,g down their lids. look upon il, therefore, as
cerlan ltut The order will mol be permitted !r'y to
main III iOicr.
II am now asked. sir, whether, surprising this oTG,r
to be ssCIncG aud the dcposIle law executed and The
discontinued, affairs will return to their rcr
state: answer with all candor that though lrok in those
events great improvement, do not expect IL tie
domestic exchanges and lie currency return entirely 10
their lorGer state Go mol believe there is any agrncy
work present, Competent 10 bring about tins dcSira-
bic end. In other words, do not hcicve that tn" depo-
site banks however well administered, fully supply
the place Of Il national inslilutiu; and very much
mistaken, if INTEL gent connected with those insIi-
tu,loms themselves i.lcve any such thing. find. tia,
in lc4-, c2:i l-jD, l-3l aud lci2, exchange New
York, in lhr S,Glh"rn ami Southwestern cities, averag
cd three Ous OF enc cent DISCOUNT or hercabDuIS.
Now doubt whether The most sanguIne OF those
mrclrd wiki tic drpsG banks expect ~ be able, truu h
their meals, 10 BRINK back exchanges ~ That state:
thing like it,
The drpo,ie bar.I separate and distinct in >iu.
tons many ul them strangers to each ether, without
full cnn.r each other and all aching without UNI
iorI.r Of purpose Their ol gets distinct, Their
p!tas distinct, tily interests distinct il Of ih"nl
has connection with others, II yet has unbrn
ken chain OF connection. They lave nothing which
runs lhrnug he whole circle Of the exchanges as that
circle Is drawn lhruug the great commercial c!lirs OF
the Union. They only act in the business Of cx-
cange 10 the extent OF funds or no, much beyond ~
actually existing. national institution, with branches
agcncles different p"nls, may deal IN exchanges
between these points in amounts 10 meet The convent
of The public without reference to the nc oil tile
Of local funds. One institution, therefore.
with t;auc!rs has facilities which never cGn be possess
ed by different institutions, however hoHoraby or ably
Conducted
Fox myself | am Of the opinion as formerly.
ti.at for the ani-lra!in oil the finances Of the coun
lIy for TIE facility OF Internal exchanges, aud for the
dur control and regulation Of the actual currency,
tra! Institution, under proper guards and limits Is by
far the best means within our reach And am, as a.
ways have BEEN OF opinion, that Congress, having the
power Of regulating commerce, and the power the
Coinage has power, Also which Is bound TO exercise,
b. lawful means, that currency in which the rcve-
10 be Collected, and which Is to carry on That CON-
mercr, external and internal, which is thus committed
regulation and protection. All the duties Of this
Government are, my Judgment, not fulfilled while il
Raves thcs" great Interests, thus cunldrd TO lis
care to l:r discretion OF others, or 10 the results nl
chance But will not 60 further into these subjects at
the present li;l:r.
Mr. President. Indifferent 10 the folm in which
the Treasury order mag be done away. Gentlemen may
please themselves in tic mode shall be satisfied with
the substance. believing ii 10 be both illegal and nlu-
ro:s, shall v"e to rrscInd to revoke, abolish
pefsedr, 10 do any thing which may have The effect OF
terminating liz existence
TN CHANCERT-VirGIHIA.- Pnwlra,an Comfy
Il Court January tie cd, lo7, Robert Faulkner guar.
dian Of bis daughter, Martha r. Faulkner, Plaintiff,
against
Martha 4. Faulkner Mary Rrbccca Woodson, Sally
Ann Woodson, Andrew NlcRobrrs, and Amanda his
vile, i"rmctly Amanda Rrdd. Robert H. Rrdd, Charles
4 Redo and Martha J. Rcdd, the said Martha r Fauk-
ner. Mary r. Woodson, Sally A. Woodson Robert II.
R"td Charles A. ReGd, and Martha j. iodi. being in.
idnv Under the age Of II years, Defendants
On motion Of the plaintiff By John w. Nash Esq, his
COUNSEL Ben. M"sby is. by The Court appointed Guar
dian ad Item, 10 the infant defendants. and thcrcupon
the plaintiff flied his Bill; and the defendants, Mary Re-
hrcca Wnodscn, Sally Ann Woodson, Andrew Metro.
h"rls nnd Amanda his wife, To- II. RcGd. Charles 4.
k.dd. and Alnrhn j. Radd moi la yinn el.rrd lhcc