The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-08-26
From the Richmond Enquirer


The proposition is still urged by many respectable
Presses.-We lay additional extracts before
ders
1.-The Richmond Enquirer strongly exhorts the banks
Of the country to resume specie payments at early
moment possible, and warns them Of the i'll effects
likely TO arise from delay. II is certain, that this de-
srsble can only be brought about BY concert and
the banks it to the community that all reasonable
efforts to attain unanimy should be made. In this
view hope the Convention Of the banks will assemble
in September, and if they should resume before Con-
gross legislatcs the subject they will win feather
worth wearing "-Nmfoik Beacon
1--WE entirely agree with the Enquirer in its propo-
stion for convention Of the banks to fix day for the
resumption Of specie payments. The people are be-
coming impatient, and political demagoshcssare busily
tanning the flame of discomfort. The two Ex-prcs
dents. Adams and Jackson, both in the field against
them, and are determined to show them no quarter We
desire to steps taken TO force tho banks pay
specie before they prcpared-in that case, the evils
which would flow upon the community would be ten
fold greater than any that have resulted can result
from the suspension. ,But think with the Enquirer,
that they should strain every nerve to resume at the
earliest day and to fix that day. to leave the PEG.
pie no longer in suspense ."-NmtoK Herald
"THE BANKS The Richmond Enquirer has pro-
posed scheme fora general resumption Of specie pay
ments by the hanks, that seems to meet with general
appreciation 1t advocates a convention Of the banks,
at period far distant which shall agree upon such
time for general commencement OF specie payments
will be most convenient for the greatest number 1t
is evident that such plan in the end must be adopt
cd for without concert in their action upon the sub
ect no desirable effect be accomplished and the
sooner the is made the better il will be for
the country While they continue in their present
dl,ion, the delay in resumng specie payments must be
protractcd beyond all reasonable time, for while there
exists an example Of suspended bank for excuse,
il will be made available in justfyng the delay Of others
The plan is altogether feasible, and may result in bring
ing about resumption Of specie payments in short
time Let all the banks be represented in the
ton that do SO; and let that body determine day
when all that are prepared shall commence the redemp-
ton Of their notes. This will show the ability Of the
banks and give confidence to the public 1t will either
lsiy confirm the assertion, that they suspended for
political purposes and upon no point IS It more desra-
bic that the public mind should be settled than on
this-MaysrWe (Ken.) Monitor.
a proposition emanating from the Enquirer, is now
under discussion in tho papers, relative TO the poprety
Of holding convention Of the various banking insttu
tons of the states, with a view OF coming to some
general understanding to their future transaction OF
business The measure Is iavorably received IN some
quarters while others again doubt It's efficacy Without
expressing decided opinion on the subject, we are
nevertheless inclined to believe that good may
grow out Of it Each state in the Union has its sepa-
rate control and power its banks and while
state may feel disposed to insist specie payment by
its institutions, another state may authorize It's banks to
suspend specie payment and thus draw the cash from
the former banks upon presentation OF It's issues, while
they themselves are protected by their Legislature in
their refusal redeem their bills general conven-
ton might remedy this evil by mutual agreement to
honor each others paper 10 the letter, and also perhaps
tend 10 facilitate the resumption OF specie payment
which is now suspended That fertile source, too Of
bribery and corrupon to wit, the United States BANK
whose HYDRA head is not yet entirely severed would
also be in degree in the Objection TO the want
Of well regulated currency, as paper money. live
are have such all would certainly confer greater
benefit to the holders by being honored and accepted
wherever the individual might go,--Ilad com
mercial emporium in Virginia where goods and
ccssaes Of life could be procured, there would be
necessity Of paper leaving the state and il the specie
TO be drawn from the banks, il would at least he
drawn at home, and remain amongst 1.-THE spir, Of
internal Improvement moro lively and better attend
cd to, Virginia would be prosperous and have less
Of complaint And here would remark in
conclusion, that if Wing friends IN the Atlantic
cities would keep less brawling about the introduction
of foreigners but take steps towards encouraging
their emigration TO the interior, much more benefit
would be conferred the country in general, from the
industry and manual labor of these now impoverished
people for all know that the harvest great but the
laborers -Ltrtsb,rg AHeghanan.
I'VE may he told that nobody in favor OF an eI-
elusive metallic cunencyye' il is to lie feared that the
to exclude the existence Of banks hy rendering
their continuance discreditable Improbable and i'm
practicable We should be in favor OF the convention
proposed by the Richmond Enquirer It is obvious
there mus, be general conccrt-no bank, set Of
banks, could safely resume alone a convention is the
proper cxpcdcn, But let be for the mcrc and cIcu