Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-08-17

BANK, IN settlement OF balances gave the Neo workers.
check upon n York for the whole amount, say about
half mllion-not dollar of specie changed place We
congratulate The community upon this slate of things
| In BALTIMORE, the current in the same
| even tenor. The Patriot Of Tuesday says: GAS
toned in last the day fixed upon for the formal and
general resumption of specie me nts passed Bai
unnoticed The call for specie the Banks. very
little if al all exceeded the accustomed call for change,
in specie paying times, for the ordinary business trans
actions ten or fire. and occasionally two three City
Corporation dosr bills, presented Tor the purpose OF
small change, WIS in. general way the amount of the
Offerings at the several banks in this city, yesterday
1t ia in fact altogether probable that the banks of BaIiI'
will find themselves in possession of larger amount
Of coin at the end Of The week Of resumption than they
had nj the beslnnngand that the public know, was
abundant for ali needu purposes II is not antci-
paed therefore, that the act Of resumption can these
attitudes, produce any structure in the money market.
Thanks TO the past prudence OF dealers and bankers
there have been prelernaturnl expansions with u.s.
and there therefore painful contEactions necss'
| sary.'
Monday last great era in the Banking establish.
Predictions had gone forth in the course OF the
last year. that the State Banks could not resume Tor
some years come-and indeed the difficulties in their
way appeared to be appalling and almost nsuperabe-
But these very predictions contributed TO defeat them
selves. The indignation OF the country was rousrd by
such q supposition. The Banks were urged by every
consideration comply with their engagements. They
their real interests by sacrificing their cupidy
10 their duty. Instead of extending their business and
flooding The country with fresh emissions of their pa
|
counts and call in their paper Assisted by the immense
resources and recuperaIve energies of great country
they have succeeded within period of 10 months, amid
oil pied pressure and tremendous panic IN re-
Stunning their specie payments They have ELECTED TINS
re volution only without the aid OF National Bank
to which ascribed the resumption Of l5l7-but they
have carried it through in spite Of the Pennsylvania
Bank Of the United States. She one OF the lrst 10
susoend-one OF the first 10 promise resumptlon-the
most active in preventing II; and one OF the last 10
redeem its engageme ns-Ihe country Is under obl-
.nc, a. S,pt thpIrh hon hIp
and voluntary compliance with their duties-but no
thanks are due TO this Boosting and unfahul mammoth
institution 1t hung back as long as it cou!d-and 1t
was not unit, the public voice began 10 denouncc lis
backwardness and 10 suspect lis credit and some OF It's
own partzans rembed for the results OF its non resump
ton the elections Of Pennsy lyana, that It was com.
PEELED 10 redeem its engagements.
Monday last indeed an important day IN our bank
ing nnnas-Not only did The banks which we have spe-
Gifted return TO specie payments, but 1t Is the same day
for oil the banks Of Pennsylvania, Virginia, Maryland
Delaware, Kentucky, Massachusetts, Connecticut land
Rhode Island.
The Alexandria Gazette Of Tuesday says: "On Mon
d,y the banks in this town commenced the general re-
sumption of specie payments There was no run or de-
mand for specie whatever. Public confidence Is entirely
restored and the notes Of sound banksae now
AZ rood as gold or silver, and much more CONVENIENT
The Banks OF Ohio have given notice. through their
Committee appointed a their las. Convention, that hey
will resume specie payments on MONDAY las the l5lh
inst The prophecy OF the Portsmouth tribune, "a lie.
dera paper1 in speaking Of the resumption by the New
York Banks in May last, that "shoud they go through
in triumph and by high example Of desperate courage
occasion general resumption throughout the Union,
The charm Of Mr.. BiGNes name as fnnnc.er ltH be
forercr LrcEen is here (says the Chcohe Advertlser
fully verified The Cincinnati Gaz Of the 10Th inst
says: The Banks Of city haze had more specie de.
posted with them in the last wo days than they have
been called upon TO pay out From the universal conn.
dence felt by the community in all our city banks, this
| result might have been expected.
! The Louisville Public Advertiser Of the Sih instant
says: :We Stale, on unGoubied authority, that
ali the banks of Kentucky will resume payments IN spe.
Gle Ion Monday next 18Th instl is understood that
the banks of Indiana and Illinois, if they do not com.
ence specie payments the l3lh will certainly Go so
within few days thereafter.
awe congratulate the public on the change which is
about to be made in the currency. The notes Of our
banks from this day FORTH will be fully equal 10 gold
and silver and whilst exchanges between specie paying
points will be nearly equa'zed the resumption will ibe'
rate many millions Of specie hitherto boarded and mo.
ney mus: be more abundant in few weeks.
The ability and prudence di'played in the direction
Of the banks Of Kentucky Indiana, Illinois, and most of
those OF Ohio, enabled them 10 keep their paper nearly
par during The SUSPENSION and Necessary conse-
Guence full confidence will continue 10 be reposed IN IT,
and il will he considered quite equal to ePeeie
the resumption shall take place. Indeed ne may now
saw. the notes Of Kentucky, Indiana Illinois and the
strong banks Of Ohio all al PAT Men Of all classes
feel recure in holding them, and Will therefore make no
effort convert them into specie, as nothing can be
gained by the operation. There can, Of course, be no
runs upon the banks, and we venture TO predict that IN
the fist ninety days after nclng specie payments
they will have increased amount OF gold and silver
! in their vaults.
The ~ Y Herald learns by private letters, that the
Charleston banks have resolved the st Of September
next the day which they will return 10 specie pay
mPns.
Those Of Savannah have fixed on the lst Of October
next, q, appears by tho following resolutions:
| "SAvASSAH, 9th Aug 1888.
! CAT q meeting Of The Delegates from the different
banks in this city, to take into confederation the propTie
y Of early resumption Of specie payments, the fol-
lowing measures were proposed, and unanimously adopt
ed
1.-THE banks Of Savannah will resume specie pay.
ments the first Of October next and invite the banks
Of the interior 10 de so likewise.
"The banks Of Savannah will receive the bills Of all
The country interior banks in good credit on dsPose,
or payment Of debts but not re issue them provided
such banks Except those Of Augusta agree 10 redeem
their balances this city, every fortnight with city
Northern funds at par specie and that such agree
ment shall be contaminated by such banks with the
banks OF the city en- before The first day Of September
next.
| furnished 10 the several banks in this State.
| W. u BULLOCH
Pres. Bank of the State Of Gr0rgia
". w. GORDON,
Pres Central Ra,i,o Dad g. BGnking Co.
JOHN &. NlCOLL,
Prest. Pro. Tenn Planters Bank.
| =. HOUSTON,
Prest Pro Ten Marine d Fire ms Bank
B. f. HAND,
Prest Pro. Tenn Branch Bank Darien."
The Bank of The State Of Georgia. located in Augusta,
has determined 10 comply with these resolutions, and 10
resume specie payments on the LIST OCTOBER.
Tennessee Banks-The Nashville Wing OF the 9th
instant says herc is doubt that Tie Banks in that
city will specie payments on or before the first
Of January next and that that day would probably be
fixed on and officially announced the return from The
ens of the Presidents of the Planters and Union Banks