Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-09-21


Of drlfs made directly on receivers aud eolcenorssc
~ acceptable 10 the public creditors and by tie
specie fortunately then on hand, and since collected
by e receivers with apart OF what WIS before IN the
mnt, aud SOME otcasloall, supplied by few OF tie
hH,,s aud collectors large amount of clam, has
been paul, aud The Treasury is ready To Pay others.
So lar Is prlcIc lbr. N onts aud ina manner con-
srneut mlny. But ill the indebted bank resume
spec.c payments, increased llectoiS can be made
IN sprclc Of wat IS dua from them and nom lie
mcr. hants II must be obvous that the De attmenl,
however 3Njous pay al the rn-hc cred toi> and
otieets' ssttiH, Whea dem lalcl, IS unable TO &C.
complIsh desirable object.
TINS IS of the evils Incident 10 thc exisn
STATE oilhe moneyed concerns al tn cou MY, and
hleh caneoi be uctcd unless Congress furnish
additional tan+. UNI specie payments arc Gru,ral-
" resumed. Sonr inierueliac lo>se-, by dePtcz
citation o bank notes, must, therefore, fail GA those.
wheth ctedHols officers OF the Gos r,nleHt, who
consent to take them rather thlu >nbnt 10 delays
payment.
ncnce it scrn.s highly reasonable that the Govern.
ment should histeu last rs possible the lrsto'a
on OF EetIc payments, nj least by It's ufaei fiscal
gent, who stIil Ia ITS debt.
TINS would III IA end such lose, II also
scnnls proper dat those deposie banks winch have
not generally ANSWERED the demands On the.n bus
hive continued 10 receive inll lnter"sl the depo.
sizes they had loaned ont. should BE- reqatcdto pay
the suns stdl retained, aud the period, WHEN
they faded ia fl thrir obligations 10 the Treasury.
IL Is nlitNt tllN ll' nltllDeis III OnIlfS-' coming
from egerS scetiun ui the county, would be the be,t
Iud ,es OF what further icnty seventy Sht prop
Ell, be exercised towards them and knowing more
ltimalcy lie caus aud Guns qacne,s oil the st's.
pc s,'ceic paym nj, by the ban,s IN then -
ectse III .h5uilipa.s, can uecIje nllh greater
cutacy whtthct any indulgence coald h, ieaiicl be
extended 10 thom ap no nat.lN, except 90 the cDu-
duon oil an cnlv resumption oil ~pecle pa, and
an allowance OF "A crest dunn. ANY dll, IN mer1ne
heiI fi,ta - -encnts. With de lne.ii,s Of nor-
NATION assessed hy the under syn d, he does not
he,ua!r 10 express m opimun that II should not OF
done without ,cunl auce with such 60 dHloaS. y,
fnnh ,s,sl oce oi the ability Of most 'ft.m on The
SUBJECT. iii be necess ny Oily to iien 10 the all
OF thsIi last returns, Nhlch IA 1.tu pr,'Ion'y
anprS d.
FROM tar mole Of doing business N the South
"es., by iadklnI much OF then CIR :ullHon not ~.
oe-tn tp,c homc, hut AT distant points, aud ao'I-
I'll . = II here by bdia oI exchange, ~ uGy nj
wl.ch darn1 the a season.. have laIcd /" b. palh1
he stuaGon OF ,e,ea OF he bHnhs trrp Is eia, ell.
Gbic, onis e.r,s resumption oi specie pay
ments haiot sierdy and satisfactory tdJustHIent o
thrr dtbt. to lie Guy,TnuCni. Iiutm the " cstrtn,
. and iteaabl, II the Eastern AID Middle Stie II
not t,scM IA, ~ the anhtS 10 Sn,teln such payments
dpri - tltr u1Is .oh glc.t,r tiI.l lat, been
customary N tuls country. Thou sp cir, compared
with tact cucuason,I, rs one 10 two, and one Ia
tiurr and ttcu lunrdidte means, compared with
then nnsn G.ale nabllucs, al" over one 10 tilrt e
llcnscrt Ia, hcen hol,d 'hd Tie ohon, winch the
banks Ncf, bspHd 20 mike, "nli lad, Utmost pa-
The ,.,tiolc event, 1Bphe tettIourd, S. uutt
! ,er, ous dela, 1be obje.uon usually nt-eI
laI-t smear, plloa, that the ultnutabl bal
1nce 81 ttsds aIal1l-t ts country "o'id, ~ l1a G
vraf, cAst sonh o. lac sirtie - the bslh, IN be
drawn oul 3gl SHIP I'd, viii. however tue Hpun Of
t1t', posse, Hueu Il, force WIN II i tonshte Il
rha The dc hitherto la, nor ia,,,'ofed ,he export Of
/ spree. Ga the contrary, cons1rr.bc sum, which
IL III ordinary etreltton, have, since III" en7Pr
on, been "l"ra"n, aid a portion" tlch aent A
broad. "h'r lhrn place - badly supplied WIN lie
precatrd paper. 80 nappis, adjusted. however, are
The lss, al trade. tier nl'ur CT op the pc
cious Inrtils. ufat liz our custom honsr books
show expagt since the lot oil Nay I'-t, chiefly
Eogand and France, ut - 10 80 o Specie. thy
SLOW fllr nl otis, e.4,eili nom Ii
quart T., al St5.l 10 go. Though liz actua m
J po,ls aud rAruf4, have both. donhut.a, exceeded
hose saitce that pgrud, 2ed The ftsIt oi dh
'1ieace ia, brra somewhat GfeHpf, y't IN" tuia'
dram has b. ninchlrse tHai many hfr lmlsl"c'i,
,nd Iioilo 81 les, Ell ct tn traef'l abiy al M
/ counIN and the nalNs To have >pse.r payments r''-
snuei and ,acce ~slaity fa4,"l. Congress H'NlnG
power to p ,ss bankrupt las, II wpuid br ""ltih ol
consldcrAtHn, It lie postr ht eHfrflNrd "haiff all
| bauas, and u Nlt e.eat. ~ r commended hs VI.
Da.is and NJ. Cr,aiord, all employed ny tIpr IRA
slltS, sou!H Ioi J.. subjected to IT'S fo'tsons. md,
on aoS ma ottrnt ana d,her.e tadpre t,lhrf rcou-
mary dllIt,, he cunp.hed close tu.t con
cei.s.
In respect to the banks n tie D.ttict Of Go,um-
blu, wei others connected wltfi IN tttu'til
hovetnnIaut seems dc ii.tble that TIE SUI.
| adIpted III relation 10 them, by CODSreas, su"u'd
have >rons tendency 10 p,oaiaec Tn eai,lettfc-
sHm7nna al $ 5tcm payments "alth II Ptdttltal"
,ud al For THIS purpose, hale doaJt cNn "Nlst,
tnat "hilc tho,c measures aE be the RIOS, saiuta-
~ wind vail csiuce due hbrr,lHy aud lu,ben
aucc to the extent real, requncu by ,rIsls,
they should, be.oad thal, be nAotops IA cHacimg
tac aiupiion Of such steps rs are sanctioned by The
snund principles OF currency nd HE phbic ittii.-
They viii then help al any caiIy day TO rciIeec the
/ community. well rs The reasuly, from Il crnbi-
non q, liIc circulating medium, winch, 50 lar rs II
consists OF bans paper irredecmabe IN Specie Is one
OF the worst ;, our.es which be- iih eled So
riety. II ~ no less hostile 70 the best Of
| po,nlca economy than usaally bserstve OF ever
Ju,t sclso OF both moial aud Ie, Il o1h ,ation.
VII. on THE Monty REUH,tABLs. Fon PULLS pUIs.
Tao Mud o, money "a cure y receivable ia pub
! !ic dues is an,tber ,arrassu cul, coucernin-
which Lee I>auon has beea deemed ptulrr by man!
\ charge the e>Istng nrLclICe la, been requeet-
ed by Others, without lc .isdlIon. But. since the
SUSPENSION OF >prcle payments by the hahhs. no
change hioh would sdncton tnc receipt III Oanh Ia
per not rctet nailr specie has beru taougnl al
r,r prudent ~ PERMISSIBLE by tins Department. Nor
VIII such a one be adopted without dc express dI-
rect un-uf Cuugre
Believing thar specie IS The best standard, and the
oriY one contempt hcd hy the Constitution, toi the
public rev nue. aud eXprniI nrer, we'd a tor the
viIue ui coalfdCts and properly, every departure
nom for tosr purposes ~ deemed by ia" under
s.gnrd pein.c.ous, II not uncon'It uuonhl ! ne
question rs to the Ell edlcucy ol uslug any other
MEDIUM fur curfruiv is of different chatacter ana
nore complicated. Bur the r,rnops consequences
,,t hills al rretlIi.