Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-07-03

axt winter The Banks are not 10 be trusted Oh, M
,b democratic legislature only To- he trusted an,
I., must manage the Banks the xear round h, an,
sbor trip to the capital. These Solons and Solo
mons will continue Ia arroeate to themselves all IN,
natrotis. all the financial intelligence and all III,
rn,eoritv in the land. twill not do for them IN -,
Low that Banks or Bank Directors have these com
moditles at all, or either of them. And though the
onle be ruined. what boots H. II the purposes al tI
narty are be served, that the Banks be rendered
a,se than worthless. and the business of the cnnt,,
p,r,lyzed AMI Frustrated
Look at the defeat Of the SsaH Notes bill and II,
injurious consequences upon the poorer classes Of the
community paricu larry
Iook at the Sd section of the PRINCIPAL hill thar
was passed Has the Legislature empowered the
Ranks to give relief to the people, No: 1t has tied
the Banks neck and heels. What relief is il 10 the
suffering community to be told that they shall termi
nate their agones by death The Banks are posi-
lively told, when there is danger of a run fo, sne
cie upon Them nor the least hazard of an nur,ous
deprecation of their paper, that their discounts shall
uo exceed, on the LIST OF March next. their present
,m,unt How, then, can il be expected thar The
Ranks can essentially aid the community when they
may forfeit their existence bv so doing. and when
whatever relief they may grant will be rendered
worse than worthless by the almost immediate con
traction that must follow Just look little into this
n,ter Let be recellccted that that largest OF all
the circulating media OF trade, that quasi medium
which is bottomed upon credit and confidence and
Xnf
,lmes the amount OF all the paper and metallic cur
yeucy together has been almost totally distracted
,vprn the ssasanels ot commerce; while too all the
gold and silver, ~ winch there certainly UaS a large
amount has been converted iaro ~ marketable com
modity and forms another large itcm that is alb
.r,cted from circulation. Let il he recollcrted too
uhat while both these processes of ruinous absuac-
sion have been in rapid progress the Banks OF Nmgi
mia also have been steadily curtaIling and reducing
their discounts, at Per'od me gear whn me rants
o( The community had uniformity heretotorc reguirca
1ad proRnredhr9e erpdRSio,S. until the circulation
o,thc Banks contracted 10 pom, that in the most
prosperous times could not have failed to create the
screrest pressure ct, under all these unucI> and
unfortunate circumstances, so productive of wide
spread distress and ruin, and completely cal
cuiatcd 10 paralvze and lsostrate the entire br-
>incss oftlc counliy,-Hs commerce, lis nantlac-
tnrcs and It's lcuttre,-,ndcr all til, st ntoW ard
aud disastrous circumstances, what policy does the
Legislature adopt To fccNc the community Did
II endevor To make nrourN little more plenty
No. not at all. 1t even went many bow shots be-
ypnd the former system of banking in tins Common
wealth. To render money Scarcer, and to agoravate
the nmladv which il had embed To cure. Iruley
various Bank ciiRteTS, IL had been deemed Use
md safe 10 suffer the Banks to circulate three times
The amoult of thelf capital, if they thought proper To
ia 80: but the sap'cm Virginia Legislature nj the
present day. who thnh they have E,ro0fien p,or,
5mhng and financial knowledge dian Albert Gala
ia 81 Nicholas Ri Idle ever learnt in all their lives,
haze made the wonderful discovery, (not BY magic.
o courseD thai banks stand now precisely where
they ought To stand the golden point has been
dearly mt--esc it is manifest that instead of ordlin-
M that the discounts aud outstanding debt shall
be increased. it would have been ordered that they
be diminished. Nov" take IT for granted, that. had
the circulation and outstanding debt been % per
rnt % per cent. less dian it is. precisely
The pIori>ian uouid have been inserted in III"
Aa-which is proof dcmonstralye of the perfect fol
IA Npll Ir ain "a inn o1 hat plItI
oU> restriction. The that Is squeezing Curve
"a breath ont al orr bodies ma, be tgltencd but II
ou,t not be rclaNcI When tie Democracy
meet here ncN winter, suppose they will put all mat
nrs nsht, if there be- ANY ding wrong in them now
Wuh the blaze of tacnt> they will hive amongst
rln. they cannol fu oi ooulsr, To furnish with
magnificent system ol finance and Of culrency,
sail .@'cs.-Yhc Petersburg Constellation SAYS,
ihn want oi chang" is beginning To be seriously
l. and thu opinioniS hour, gaining strength that
fa1h As such amea>urr is To be d prccated, public
oo rnence will, III the end demand that such an
"ar be mnde on the responsibility of the borough,
alhoritles." The Constellation. being Il dcmocfm
The Bcntonlan school. lis admissions are the more
Important. Weresprouuiy ask whether it would
mt have been wiser IN the Legislature to have aa-
'ri:ei an issue of small notes, than 10 compel the
'oPc to resort to such step in violation of law
enb, bringing the statutes of the country into con
mm! How long will il he before legislators will
.n that they are mere opponents of the public will.
mol temporary Dictator. !!
Epgqpt and CorteH .Sentment-Thc follow
toast was lately given in Boston, by X. &. Win
np
"Popnlar TamMt-Free Elections. Free schools
aFrrc Press. ma, prevent the ciond from gath
n.;-but when il is above heads, there is
Qh. which can disarm its thundcrs and draw down
'nghiul fires, but the bayoset prints OF patriotic
I'm sodiery
? Trouble is brewing IN Maine, relative to the
Pued Northwestern Boundary line between the
Mates and Great Britain. One of the Maine sher-
0'' been arrested and put in Jail by the British au-
Mites for cncroaching their alleged territory.
nearly time that this question settled. II the
'orcrsy had been with Mexico, Spain. any 9th
4h'cc power, whom Gen. Jackson could have
elmto measures, the boundary line would have
run ons ago.
The Exploring Expedition has met with ano-
t@y, Just every body supposed IT was on the
>lrng. Lieut. ratnall, who carried Santa
oNeNcoln the Pioneer, one OF the vessels built
Exploring squadron having reported unavor-
@her sailing qualities, and Com. Jones, who re-
made an experimental cruise, having made an
%report, committee of distinguished Naval
"N has been appointed to examine into the mat
0Wil which time the departure of the cXpedl-