davidaulloa/AmericanStories huggingface dataset:
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25
For the Spectator.
THE EFFECT OF THE sJJSpEN-
SION OF SPECIE PAYMENTS

H.
SION OF SPECIE PAYMENTS
hessrs. Editors-There are few subj
Jects less understood thar Banking. II
was this ignorance, 1 verify believe
which caused the overthrow of the BanL
OF the United States. Demagoauss and
quack politicians deluded the peonhs
with ialsehoods and Misrepresentation,
ana induced them TO prostrase all iasti.
tution which furnished to our country
the very best, and most uniform curren-
cy, that the world ever saw. Rut Il :.
too late to speak of that now. The mis-
CHIEF has been done, ard time alone can
repair il.
MY object now is in few words To
Po'n' out The necessary effects Of the
suspension OF specie payment, by the
The general impression seems n hs
'hat the suspension will have the efr..c,
VI making money scarcer than it is nov,
but there never was a more unfound..,,
opinion. The effect will be exactly tbs
reverse, as can readily be demonstrated
me natural tendency OF the whole
banking and credit system is to excess
1he temptation of gain leads almost eve
ry man OF large credit into speculation
aud the temptation of large pi Gifts leads
! every Bank to excessive issues. TIL
inherent tendency operates as constantly
and almost as powerfully as the pripc;.
pie OF gravitation itself. Hence the ne.
cessity of some efficient checks ON the
banking system. The most effective
which ever was devised, was the II, s
Bank. which from its extended branches
and large capital, had the power Of
forcing back excessive issues upon the
State Banks, and as long as this check
remained, the issues were com paratiyslv
moderate. BY way of illustrating this
position, will refer to an official reeorl
made to the Inst Legislature, showing in
round numbers the loans and discounts of
the Farmers Bank and Virginia Bauk
for lS35-'6-'7
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25
PUBLIC MEETING in R;c6n,ond

PUBLIC MEETING in Richmond.
IN pursuance of call made in the morn,
ing papers, large meeting assembled at
rue Eagle Hotel, on Monday the 18th inst
20 lake into consideration The condition Of
the currency, &c. ''''" "
On motion OF Jos. Mayo, ESQ, Thomas
HutneIioord, Esq, was called to The Chair
ing.
MIR. o. Williams proposed MIR. Geo 7,
Sampson. as Secretary, but that gentleman
respectfully declined the honor.
Mr.. Williams then nominated Jsmes r.
Crane az Secretary, who vas duly spuoinIad
On motion of Mr.. Williams, a COMMITTEE
was appointed, to report resolutions expres.
gige Of the yiews Of the meeting; and the
Chair announced The following gentlemen a,
The Committee, viz o. Williams, Robert
u. Hsxall, James Scott, Mann S. Valentine
and James Lyons.
On motions severoily msde, the Chairman
and James Csskie were added 10 The Com
L0iltee.
The committee retired for few minutes.
md reported the following resolutions:
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25

ed-consequenily, the delegates elected in
1886, enter on their term OF office in October
1886, and hold until October 1887. The DEL
egaies elected in 1887 do not enter on their
term OF Office until October 1897, and the
general assembly is at present composed of
the members who served last winter.
5. S. BAXTER.
Attorney General.
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25

The Bank of the Metropolis, and the
Bank of Washington, which had bpk
just boosted their determination to con-
tinue specie payments, have gone the
way OF all their fellows. A day or two
suficed to convince them Of the folly of
;he experiment,
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25
THE CINCINNATI ABDUCTION
CASE

1t has been asceFsained that the young wo-
man whose alleged abduction caused so much
stir in Cincinnati, instead Of being abducted
and Imprisoned in dark room against her
will, was in reality confined at the house OF
a doctor in the city, in giving birth 10 an il
legitimate child.
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25

The Legislature OF Louisiana have passed
an act for the removal OF the seat OF govern,
ment Of that state, from New Orleans 10 Ba-
ton Rogue, and appropriated two hundred
thousand dollars for tho erection Of public
buildings,
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25
(signed) DAVID CAMPBELL

To allav mneasinoes and - god - -iusI
unfounded apprehensions IN respect 10 the
ultimate soivency Of the Banks, and their :
hility to make good their responsibility to the
Commonwealth and TO individuals, tho Go
verno. ventures 10 assure his fellow citizens,
that the suspension Of specie payment by the
Banks has not resulted from loss, or any
distrust OF the credi! of the debtors of the
Banks The measure is one OF precaution,
which the unexpected exigency Of the times
has most reluctantly forced upon those Insti-
tutions. The redemption Of the notes in cir
culation, in snecie, NAV he assuredly relied
upon; and there is, therefore. no cause for
uneasiLess or alarm on the part of the hold
ers.
DAVID CAMPBELL.
May l6. 3-w,d
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25

TOM Aoans 9 discounts. Circulation.
,0.,c' SS'oIo'ooo 81 9S4, 900
, ,03o' - lOo 'ooo 1881, 900
100" S'%S"'oUo 4.293, 600
Loans s. Discounts. CfreuL,,;o.
1885, $l,OI3,OOO aIsSS o .
1886, 4.773, coo 2713 600
1897, 5,9S2, 600 3isI Goa
II, from t.ess statements it will appear
that the circulation of these Banks anl
their loans and discounts increased ne,r
4o per cent. in two years. No one can
doubt that it was the removal of tho
check which the u. S. Bank Afforded
which led to this inordinate increase Of
the business of the Banks.
Alter the overthrow of the II. States
Bank, the only efficient check 70 ,h,s
operations of the Banks, was the obliga1
NON 10 redeem their notes in gold and
silver. But now by the suspension of
specie payments, this remaining check
is removed. Where now is the corr
,eFVaiIing principle to The natural ten
Iehey 10 excessive issues. OF which
have spoken above? There is nonel
What then is to be the consequence
answer without hesitation, an almost nm
limited emission of Bank paper The
whole country will be flooded Money
VIII De plenty, but it will be depreciat-
ed Property will rise in nominal value
to double its present price A vast 3.
mount oil property will change bands,
and the sellers will get for it vast a.
mount 0f-printed paper!
Instead of scarcify or
shall have redundancy of MONEY Ts+
no man of sense then hoard nm he
nIey, Tor IT will certainly depreciate on
his hands Let him rather throw it in
to active circulation, for by boarding il
up he increases the demand for moner
aud affords an additional reason, and an
increased temptation TO the Banks to is.
sue more. And let it be remembered
that the greater the amount issued sha
less is the value of the paper!
Is this mere theory Let us look IN
the past, and subject the correctness Of
these views to the test of the experience
OF by~gone days.
The charter OF the first Bank of the
U. ): expired in 1911. Between the
list oil January, 1911, and the close of
the year 1914, more than one hundred
new Banks were established. The in.
crease IN the number Of Banks in tho
last two years has been even create,
than between 1911 and 1914.
In 1914 the Banks suspended specie
payments. At the time of the suspen-
sion the amount of Bank notes in circn-
lation was FORTY-FIVE MILLIONS
OF dollars, but in fifteen months the ~
mount was increased TO SIXTY EICuT1
MILLIONS Of dollars
Will not the same causes now produce
the same effects Time will afford an
answer to the question. ."
a n'aiteT-of .fdct.man.
Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-05-25
BY the Governor Of the STATE Of Trginia
A PROCLAMATION

WHEREAS, in The opinion OF the Exc
cutive, the interests of tho Common " ealth
render il eXpedient that the Governor shall
exercise the suiherity vested in him by the
Constitution and Laws. TO convene the Lee
gislature before the time prescribed by law
for lis annual meeting
Therefore. 7 David Campbell, Governor
Of the State OF Virginia, have though, proper
to issue this Proclamation, requiring the
members Of the Senate and House Of Dele
gates TO meet AT the Capitol in the Citv oil
Richmond, on Monday, the 18th day OF June
next
Given under my hand, az Governor, and
under the lesser seal of the Com
monweallh at Richmond, this
lSEAL 18th day of May, 1897, and
the 6lEt year OF the Commons
wealth
(Ciuned1 DAWN CANpREII
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

On Thursday morning goth st. Georges Chapel
DR. Milsor
On Tuesday 18th inst, by d Rev DR. Easn Murray Hoh
man, 10 Mary NJ, daughter Of The late VIM. Ord n
Wednesday, 10th BY Dr. Cribs, Mr. Edward
white, TO Miss Eliza Shan both ofihl city :
On Monday, nth int, by the Rv Dr. Power
sesc 10 Miss Mary Teresa daughter OF Bernard Graham
oil Of this city.
On Wednesday 10Th inst, Of severe Illness Ms MARY
nedct Of O. s. Benedict, in the 2ad her ar.
fssds family of her bro D. Hk1lleu ana If
Seymour sasesIes TO attend her funeral this ansmoc
On Tuesday, 18th inst of short lncs Elizabeth Hsswe,
aged 81 years. -
Wednesday 10th inst Mrs Rebecaa Baton, widow Of Can't
Chautaupie CO. N. Y.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

g-I The Journal and Star say that no respectable
lawyers will bring suits against debtors in the present
crisis. The thing is pWposterous. Because specula-
tors and overtraders have been whemed in their own
folly is that TO stop the order of society, or
let LAWYERS starye
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

MOUNTAINS IN New YoRK.-The Cattskill NOUN
tain is 1904 feet above the level of the sea. White
Face in Essex county, 4655-a pretty long face, we
should say. The scenery of White Face is sublime
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

10 BAGE CO. - FASHION, BILE HATS ls4 broadway,
the gbtee the most durable the fashionable
best you don't believe IT, ard look They "A
the aay ne
ny why wa the Temperance meeting adjourned on Msudsv
evsnss last 81 Nose Hill Because the speaker Mr. g. ps
pfeperss aa1fts =
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

sr All the fashionable Americans in Europe are
returning home 10 look after their assets. If they
don't they will be saved the trouble before half year
shall have elapsed.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

GEOLOGICAL INsTIT UTE.-This delightful exhibition
will positively close tomorrow, preparatory TO their
deIaft frem the city and the inhabitants Of New
York be deprived for season of one of their pleasant
est sources of amusement Mr.. Van Amburgh will
exhibit for the last time, his astonishing command
over the wild denizcns of the forest Mr.. Van Am
burgh's talents actor have been seen and ac-
knowledged by thousands; but the performance is
COMPARTMENTS of stage effect and viewed as an oc-
currence Of sober reality. Those who neglect avail
ing themselves Of this last opportunity will much re-
gret IT.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21
HyDRorHoBIA.-Look after dogs.

II Some of the Philadelphia papers arc very
wrathy because three of their citizens have been
by government to Russia, with $4,000 each Cor the
job We have hundred here that will go there, or
to old Nick, for half the price, and thankful.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

ADVICE Fen THE LADIES IN HARD TIaEs.-Wear
neat, clean, plain cambrics. Abandon high priced
silks. Use neat kerchiefs with no expensive en-
brolderes.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

II Power has quarreed with the players IN Rich
mond, and broke his collar bone in Baltimore Both
unfortunate events.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

New YoRK MULTIPLICATION. Importing merchants
refusing to pay their bonds to government
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

II Afull history of Mrs. Cox and Mrs. McManus's
affairs in day or two Rich and racy
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

ADVICE You've MEN.-Wear your old coat
week longer, and your old hat month. Old hats
feel best-so do old boots.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21
THE HERALD.


~ THE HERALD OFFICE ,cia REMOVE on The it
nj Msv 10 Nc Al ANN STREET, door edssof NsssH"
ssrees opposite me Vesy Rooms az rho Du'eh Reformed
fytsxyc
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

How TO BE EcoNoMIcAL-Eat meat in small guam
titles Touch no butter-itis unnecessary Burn
single light. Sell yosr horses. Use as little -four as
possible. Take care Of The fragments
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

JAcxassEs ron sALE.-Thc following list Of Jack
asses are advertised in the Lexington (ky Observer
and Reporter" Achilles, Blue Jim, Magnum 9onum,
Mammoth Warner, General Jackson, General Gaines,
Ulysses, General Scott, Colonel Johnson, Jim Grow,
&c" BY and by shall see the following added TO
the list Of these great names-Ma Tin Van Buren,,
Amos Kendall, James Watson Webb, NJ M. Noah,
james Gordon Bennett, &c. The latter breed will
fetch high price,
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

II The Star Times, and few other old women
in Wall street. IN bazs pe,coas, are very much dis
turbcd about Daniel T.. Delavan-the last election and
the coming one BE easy, old ladles-be easy. Mr.
Dslavan goes in at he next heat-the last race was
too much Of scrub for him. The descendant Of a
revolutionary hero can never be beaten He may
take flyer for smuscmcnt-but when he gets serious
and is determined to be an alderman, the thing IS
dona
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

u- Jcdediah Burchard's quaintness and cccen-
trcty only revival of the tastes of the seventeenth
century, during the age Of Cromwell In his time, a
book was published with the following title =" Eggs
Of Charity, laid by the Chickens of the Covenant,
and boiled by the water Of Divine Love-Take ye and
eat"
The Reverend Jedcdah and his chickens in Chat
ham street Chapel are laying such eggs every day,
md many pretty women boiling and eating them
~ June his converts will look fa, plump and pretty
fS Balls, a very ordinary actor, is cracked mp by
enc penny critic, as being at the top Of his profes-
ION. Obi
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

An old ,ooman in nec petticoat-Tae New York
Gazette.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

The Fox WITH TAIL CUT OFF CogscIL.-
The editor of the Courier Enquirer calls upon the
merchants refuse paying their bonds to government
that is, to do as he did in his stock contracts wad-
die away with the cash in pocket. Bah!
Messrs. SILL e. AARoN-In another column will
be found number Of affidavs from these gentlemen
and others, setting the affair of imposition as assert
ed by Mr.. Adolphus to have been practised by them
on him in different light. Audi alteram partenl-
hear both sides-is an old and just MAXIM and which
should be strictly followed on this occasion
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

II Finn is punning in Cincinnati.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

II Don't you take newspaper!
Ne never.
Oh! cant talk with you then. You know nothing.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

II The grocers generally are very costive in the
reduction Of prices. Now we advise them that there is
no sse in hanging back-they must come to reason
Sugar, coffee bread every thing has fallen more or
less by Wholesalers must they by retail We shall
give them few days graee-but only few.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

The SLAVE cAsE.--The Recorder and the lawyers
seem disposed 10 make this business last for ever
Much trouble has already grown out of IL anu we fear
there is more behind.
Yesterday, the examination of witnesses was re-
sunicd.
Thomas J. Matzck, dcposed to having married a
daughter of Dr. Allendar and to the fact of Ellis
Dixon then called Jaquc, having driven carriage at
the wedding. This in 1890 and in the summer
following, Jaque absconded. Has no doubt that the
prisoner is the slave referred TO.
DR.. jams H. Allendar, a son of DR.. Allendar, who
claims the slave testified that he was well acqnan,
with the man Jaque who was a slave of his fathers,
having been raised together the plantation.
Has no doubt that Ellis or Dixon is the same slave
Jaque.
This Witness further fed that there was pecu-
liar formation about the nance of Jaque, which he had
often observed when swimming with him, which
would set the matter at rest.
| 1.-THE Recorder has examined the prisoner touching
this point but his honor has not yet made the re-
suit of his investigation known.
+. Price testified, that he knew the slave JRque;
that he worked IN the tannery with him, and is
that the man in court called Ellis or Dixon, is the
same man.
This was the principle evidence offered today, after
| which, the Recorder adjourned the Court.
| AT the conclusion Of these proceedings the negro
| was being conducted TO JAIL serious tumult was
raised by the colored mob collected IN the Park
Cries of " Down with the officers Down with
the dealers in blood" were banded from one to the
| other. rush was then made-the slave seizsd-and
an attempt TO carry him off by force made. The o.
cers, however, succeeded in lodging their prisoner in
Bridewe, though not without considerable risk and
difficulty.
| Police officer David Wadron was seriously injured
| by one Of the assaants The blow, which gwen
with brush used in whitewashing severed h's n
/ two causing a great efiuson of blood. No serious
consequences are, however, likely to proceed from II;
Several other officers Also very roughly handled.
The negro who committed the assault, has been APP
pretended with others, particulars of which
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

PoLroE-Negro Riot-Abraham Griffith and James
Parn were brought up, a charge Of creating not
assaul,ing the police officers, and endeavoring 10
rescue slave from Their custody.
Griffith was first and foremost in the fight. He
struck Mr. Wadron, of the police officers dread
ful blow on the side Of his head, with q whitewash
would had have been given few inches higher in
evitably have killed him.
Mr.. William II. Wilder gave evidence OF the uegro's
violence, who was full committed for trial.
James Pam, the other negrs apprchcnded, was also
very conspicuous in the tumuIt. He made every ex-
crtoR to encourage and induce the mob Of negroes to
violence. Officer Bowyer was attacked by him, and
he was not secured until after a hard struggle Parn
was also fully committed fortrial
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

On Thursday, the 18th inst, in the U. s. Circuit
Court, at Baltimore, Lewis willett, mariner, was
tried for wounding with an William Glass, first
mate of the Lafayette, as also David c. Landis Capt
Of the same ship. II appears that on the 9Th Of No
vembsr the prisoner, for trivial offence, was or
dersd to be seized up for punishment in resisting the
execution Of which order by the mate, The assault
took place. He also attacked the captain with the
axe, and wounded him with knife He was finally
overpowered and placed in IRONS After long ex-
animation Of Witnesses he was found guilty on both
indictments, and sentenced to three years n,prson-
ment in the penitontiary for each.
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

The CAmELIIA-IEA PLAET.--A correspondent
whose letter we published yesterday, assures us We
are in error in chasing the tea plant and camea as
one and the same; and says " a faint investigation
in any reccn, botanical work VIII convince you the
tea plant is defined thus Thea virides-Thea DO.
hea."
In what "recent botanical work" our correspon.
dent obtained his information we know not and
should like to be informed i is, however, strangely
ly erroneous. The Camilla and tea plant are on,
and the same but as assertion goes for nothing un.
less substantiated by testimony, submit the fol
lowing authorizes in proof of our proposition
DR.. Abel, a very learned man and dIligent botanst
who made voyage to China on purpose to inspect
its tea districts makes hesitation in CHASING tn,
tea plant among the tribe Of Camela.
HILBERT and Bust practical as well as Theoretical
botanists, in their Flower Garden Directory,
Philadelphia edition, 1884, page &c. declare them d
be incontestbly one and the same species
John Indy professor of botany in the universit,
ofLondon, in his work. "Introduction TO the Na,ura
System Of Botany" edition 1891, page AZ, substan
tatcs the same opinion.
The great French botanst Mirbel is also with y,
on this subject.
We could greatly extend our quotations, but con.
slider those gwen amply sufficient to decide tho
question.
Our correspondent seems to have mistaken the &C.
neric term Theocea for the of the plants them
selves. Thea piridis and Thea hohea are barbar-
isms similar to Hyson skin, and other commercial
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

IMPORTANT TO MEcHASIcs.-Most Of the builders
in this city have declined contracts-aad those build
ngs under way, to be covered up till better times
want Of money is the Thousands Of carpenters
masons laborers stone cutters, and plsserers must
necessarily be thrown out of employ.
II is with pleasure we able to state there is
abundance of employ for good mechanics in the in
terror of the country, and we earnestly recommend
to those out Of employ, to embrace the opportunity
without delay. Auburn, Trenton, Stoningten New
ark, are at present in want Of mcchanics.
We shall be happy TO announce other places want
ing men, soon as we informed Of the same,
through the medium Of newspapers or otherwise
The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-21

am frequently asked if it will not be better times
in or or IL monhs,-what is 10 make II so? All
our home manufacturers falling like grass be-
fore the mowers scythe. Next year twenty per cent
of the duties, imported goods, is 10 be taken
off; in 1910, twenty per cent more, and in 1912 all
duties 10 be reduced 10 mere twenty per cent
Those that fall now, will not rise under these reduc
tons of duties, and men will embark in ma
nufacturlng
To save our country we must, revise orr Tart, SO
as 10 lessen our m ports and establish National
Bank. AN OH MERCHANT.
Rahicau ~ j. april 1887.