Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1837-01-07


4;---=--::----.----:--s:--
cut in advance in the Kentucky speech an! The eh'd-
drlpa letter already referred to-; and tie :"ct Of rs -
silive udYent and actual presence vpucDed by lie
Senate, sfom OEin tlr Ewin tou the last day :ka t'7
Senate was in session du not permit E.y5s: t'l'l
Nr band; contradictory erut:ais acfcss =,
t,ocr. coose ralher to max. Hn issue aci Z, test -
ser:ion by the application -. whence. IN i;s ";
vii! proceed ut PRESENT. viii take lEe tueE o. h
President %! the Bank of the T. States IL being oicRt
in this case, aud most au'ho ativc II: w d's' ess &c
p7rinicnt 81 ths coiphi ne movement !.'s's'f fes!'
Jackson lie annou aces in M,yemller, the io tlcus
Of The national Gala my IN Daceabct aud = ter char.
ing part Of this rum aud mischief he 'He Of eve.
cutting what he o. ten!at!"ns!y ycs the iSnA uiion %
when there is no such law in ta country =s> "s 10
charge the Ieniandcr being cl-F,ld ,--
ncr, upon The Treasury orde which r.cisdes. .,,"r
money from tic land Offices iere is his picture II as.
t!csS
''1Ec COMMERCIAL C>mniun. we're thus taken b. sur-
PRISE The interior banks max ng no oas and convert
lag their Atlantic funds into speec ie debtors tho
ccsi5 The merchants "a
the Atlantic Giles, who thus thrown for support on
the banks OF those cites IT when :hey
able TO oifnd rel!e! II the very aslracuG =
their specie to the West. Ih creditor States not un.Y
receive money, but their loncy is carried AVA
the debtcr States, who III tar, cannot it, e.t
pay old engagements or to '!rtct Ry this IN
natural process the specie OF Ne" York and the Other
commercial cities is P!!3i up the Western States
not circulated, not used. but ibid defence agant
the Treasury; aud while The West Cannot H. TX.
East is suffering for tie want # it. Ia result Is, INT
the commercial Intercourse be The IVES, and the
Atlantic is almost wholly suspC !dcd and til" lew oTria
tons which made Gar, sncd with tie mos g.:
travagant expense. la November, Ic., the Interest o.!
money has /" 81 per cent merchants are Strugg
preserve tcr crri; 10y ruin $arrccs aud COSTS
five or six time, as mucIi {" transmit iuHds !Iom the
West and Southwest rs tdI : November. i-}3: or *,
%. Tins, while Tie. excl, iycs "ith 81! the w"i:d
in favor, while Europe = a!:rutd and the Da!G
%! England Itself uneasy ii lie quantity I'll specie wc
possess, suffering. bCcd 80, from mstiiI
a."rncat, tie Whole ballast .! tic currency Is sin Tel
from side OF the r2&scl - =! other.
''ln the absence Of good for these measures,
anJ prcn$t for tr!a j. i sad that the country b's
Urcrirascd that the b.nks hive ov"rssur; and iht
tie purchasers Of public lInds nave been very rX.arI
ea", am not struck by inc truth or the propIic'g u
these complaints.
Now the fact H. that ct is moment TIC cxcIg:i-
.rs all in favor o! this County; hat you tg'
hll Of exchange foreign country cheaper ih'l
ynn sHsd <Fcc;r to hat cou:try. Accordingly, ne
specie has come ln-!one goyS Out; this, tpo at an.
!lcnl when the exchange tpf l." last crop Is exhausted,
aud that otLe crop has into he nlar@.i;
and when the point # sending 10 Europe Tie
produce e" tho country To The amount o! eighty
i!undrcd millions OF d"ars. How, them has the country
orertradcd; Exchange with IL lie world in avo.";
New York;
"rhe People Of The United .',ars through their rep,
reslntalivrS rechaicred that restitution. But the liz
ecu,ivp dscunentcd with its rdepe ndence, ected
act Of Congress- and tn" ivol:e topic Of defamation
Was, that The States would MAE banks, ard that ta"se
banks could better ct currency and cX-
changes. The States acc"rdr .ly made banks; and then
follow, idle parades about the oI these banks, and
their large dealings in cAchancr And what is the cen.
sequence: TIE Bank o! the I'm cd States has not ceased
to exis! than monis and al:cGdy the wiIe
currency and exchanges are running into ncxtric"G.e
confusion: the industry Of the country is burdcn"d
with cxravagaut charges on III The commercial inter.
course Of the Union.
sin the mean time, ali forhea and caimncss should
he maintained There is great .eason for anxiety
ar,l
courage, Tie country may yet De able 10 defend i'a"ii
against the Government In tat struggle my own i""r
ctrr;S shaI! not be wanting 9" Tor the country "h'-
ever rur i'll 90 fer The c.unu hes; loved WHEN w'rt
gov"rnrd and 1t viii afford ,ia qualification To
asst IN repairing It's wrongs, than ta triumph over
th.se who iniicl l:eW;'
i,Tr (sn!d Mr. 81 is wou! picture Of Distress drawn
IN !" same coIors IN which tie pictures drawn
III i1J But Is II true p!cu..: ana if ii what
has caused IT. To these QIrscMs the answers are lin:
st 'iiat tie p!ctur" il not true except in places
Ike Bank of The United Sia!cs and It's affiliated blGks
have power TO make 1t so; and secondly that what
real distress Is felt iii places is occasiuneL - "
Opposite act Of the last session. and I u c
banks acting with politicians a." WIN '''e i pau ~ ,
United States. The g~; 'uI prosperity oi NE country
j. great. but the,e places, rhiiadclrha. New York,
aud sv!,,o others who're The VII idrawa Ut money un"vr
,posi:e act has ocCasioned PRESSURE and where he
policy distress, and to br0w II upon Tie l!,:-
suy ORDER is seconded by The n'iFity To accomplish what
desired. This is about the tne stale Of the question;
aud evidence will be at hand To- show it. Mr.. Is. SAID It
would lie remembered that. wrn this resolution was call
ed up few days ago, lie had specified his intention TO
uliuin from The Treasury d. parnlent the compara-
tive returns oil many banks: both in the new States
where there public lands and III the Atlantic STATES,
where there none; and, b. looking into their c1-
di,ion bcure the Treasury order was issued and s'e
that urder had gone into full raticn, lie would be ahc
to see in what the banks had been Affected by IT,
He had now obtained those rcnrns They, oi course
we're limited 10 the drposIte G"ihS but being scattered
over every State in The West om the lakes the Gulf
Ma and nIInt ito Ianl r.tl
Maine to Georgia, the result which they would preset
could not he otherwise than lair index TO the gen' raj
condition Of The whole country. lie had looked
July these re!urns GOVERN they did, eghtasc
folio pages and the result indicated not only good
dition. but an improved condition.; not Only ability
10 all the community but aid "ciually gwen. MIR. Zen.
ten then went the returns, by ore, taking
TOR his points Of comparison tie months Of July AID
Novembcr that is to say, the month before the order
into operation, and the latest month at which Ike
banks had been heard from sire lie examined them
under the three heads of !. Loans = Specie hand
and g. Circulation. and the general results were, that
the loans III November larger than in July; the
specie greater in November tan in July the circra.
many instances moi diminished, III some lncrrhs-
cd and in most instances the specie hand and tic
circulation brought to proportion t. each other
nscmuch that banks which had eight, ten twelve dol
lars Of paper for dollar of silver in their yn"ts
in july were brought 10 the safer proportion Of
three or four in November THIS was proof HAT
the banks were no. crippled 1t pronl that they
we're not denying accommodations The proof wasc"EI-
plec as lar as il went. and went all the Cnl"",
That these banks not injured by The Treasury "rdcr
but were bencted by it, il was proof that they "ot
only able and willing TO assist ne community. but ac'"
ally had assisted !henl.
On the other hand, there might be banks which
assisting the community. and which were ACCOM-
pIishinr a pecunary aud poitc object at The
time by shutting their doors upoa borrowers and throw
ing them into the ha IDS OF ncy dealers at three per
discount per month Th% was said TO be the Csc
in PhiIadcpha; that Philadelphia which the IF
the new United States Bank tn he: capital Of Thirty
five millions, which one shori year ago was 10 make
money so plenty in that State and TO reduce interest to
1, no, con, mr. anuum Three per cent discount eGusI