Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-11-25
RESUMPTION or SPECIE PAYMENT.

The Bank Convention, ma.,s IL ,n. city Of New York,
- Monday The objec, Of this Convention
IN day for tn, g,nsral resumption of spccis pay
ssass We hope and beaso ,ha. much good will result
hs his mssns should ,, Banks g,n.raliy, in the east,
hnprsssn.sd II they sop; any measure whereby they
Mss as however, early day, VS. have no doub: but
asss State Bank, will also the This
viha shngs pleasing officers of shs
AaA man community in general We have seen but
sedsa this Coavcntioa and this from echo of
Asdasdss Of the Globe Hs dcnonces il faug. with
rssrsisa 10 individual rights and popular liberty"
hows, desirable il may be TO have specie in
ssal circulation, could but dcprecate tn. individual who
would dsnasd il Of Bank under existing circumstances
Nov dsspieabs would that bs considered who would
"ah" s"oshs-, in ordinary business, pay specie
essas And why should hey rcluire is of Banks when
Anaals do from anoshcr IL is the only le
eesrsney Of the country, and the law that would
""pd 10 payment in would require i'll the 9TH
there should be any probability ofIoosng she
Mwnieh bills call, by tbs insolvency of tha institution
= holder might be justified in securing himself agans,
- bss 40 for doubt the solvcncy and
'as ability Of our Bank pay all of its liabilities, and
fses veil known and admit ed Banks
ssss situation sopay shsr debts they
o.
The ocsrs Of the Banks no, the cause Of the
"so-shsy wers forced to il by unprecedented
""sos OF local Institutions, which thew imme
paper money, and excited a spirit Of specula-
Wild lands, &e., and when the people in the
their enterprise the government, unwiseIy issue
nnoss specie eireular,- requiring specie in payme,:
ssds s"d import duties. Its effect was ,ha. gold and
wv "ss 70 premium, of the demand 70,
oaes nonsy."-To obtain which, Tn, holders of pa
Wsy inmsdiasely demanded il of the Banks for the
- pssnum for which is might be sold, or 20 cn:e,
-
"ssd Ssss been taken shsrefrom, and our State
>" essa bankrupt. Now, those who were III.
in causing this universal suspension, arc
ss :" shsis dsnuneisso,s. They msanly insult
u'pp'sd victim. Not fallen in manly combat, but
'sPaeiy on The hand and noble desire 10 do good
"s oshsr We will instance our owl, Rank They
% receive the deposisss, so a. to enabls .heu
'''ssed facilities to the commercial and osae
community" And after receiving them, and AZ
'"i"'s'sd accommodation. they are required e
.'p''''s'' and redeem the paper thus issued or
eponsss as the Same sims W. have bu, . Mai,
'e''sa's our ideas; suppose an indiv idual were /,
-. ~" Of money for an indefinite period of time
you that he wished through you TO accommodate hi
s'oofs, and 70 loan il out for their benefit, wou,,
were he to throw difficulties in YOUR wav
- '0' OF your power TO repay him, and sh.n per
s'".ao ~ and require you pay exorbisau
49,. - peg cent because he had il in his powe
w. Aoen Why demand specie of the Bank
'a"ess, entirely beyond their eou,,ol n,x. ,.ua.r,
nor them TO redeem all Of she paper they hav
your benefit. And i, has b.,sf,,sd vo,,. and i.
MO" eszsns-, ba, improved gu. ,o~s,-.n,.u
ssms-buils bsrn.-and added ere., veal,
~sss 70 al Of our citizens
eoud BE- the basis of all banking institutions, II
osr country have solid AMI 90 SUBSTANTIAL
v;~ . hes ours And % far as we are aeouain,.
.saosf IN which il has been conducssa,' We do -
's |" - institution in the world ,ba, h.. been +.
"i's more honor, sni ssrie, ho,ss,v ,h.n h., d
lndiana. We assure or fellow ei,ix.u. IN
aas bssn made BY the Directors of ii. Bran
'aab's them 70 specie payment a,