Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1838-08-22

SPECIE PAYMENTs-BAxKs--T resump.
ton OF specie payments by the banks, on the 18th
INST, was pretty general throughout the North
ern, and many of the Middle and Western States.
The Southern Banks will resume at an early
day probably as soon as the LIST of October. if
not before. The resumption, thus far. has taken
place without occasioning any Inconvenience TO
10 the Banks, or endangering their general safe
ty' No runs for specie have been made by
those holding notes, and the Banks are pursuing
their business with the same facility as before
the suspension. This fact shows the light in
| which the people look upon those institutions,
and reflects the highest credit upon their esti-
nation of the wants of the country. To see the
confidence reposed in the Banks, by those hold.
ing their notes, which manfests itself in will.
lingness to aid them in the time of their utmost
need, and at a moment when large demand for
specie would seriously injure. if not entirely
destroy them, 10 sight, that defines, more dis
tinctly than the assertions of thousand pol,ti
cal demagogues could do, the true position of
those institutions in the estimation of an intelli
gent community.
Faftizans may declare that the people hate
every thing like Banks, monopolies, OF chartered
privileges from now till doomsday. if they like
'hey may tell the world, if they choose, that
the moment the Banks resume, and redeem
'heir notes IN specie, the people will rush
III upon them with those notes and demand il in
sueh Quantities as to destroy them at once. hut
SO long as the said people do not break tho
said institutions by taking away their specie. we
cannot but come to the conclusion that the assar.
tons so oft and SO boldly put forth. are wind,
mere wind, without body or substance. The
Banks have had hard time OF it for a year and
aquarter past, and our only wonder is that thew
nave SO successfully withstood the unreIcntinp
warfare that has been waged agalns, them.
ihey nave been denounced and prosecuted by
Tue higheSt oficers OF the Government, officially
and privately, individually and collectively, and
the large party which supports the Admnistra.
lion, has not been slow to come up 10 the holm
oil ITS leaders in their attempts to entirely ron,
up and destroy the monetary and credit svstem
" the country. But from all the prosecutions
'hey have endured they are coming out un.ca.
thed and sound. Could stronger evidence of the
prudence and skill with which they have been
managed, be adduced? We think not
lhat the resumption will be general through.
out the Union in very shor, time. there ia mo.
inc slightest doubt. The sections of country in
which commercial trans actions are the most ex
'ensive' have led the way and for the remain.
der 10 follow, will be comparatively easy task
confidence In their solvency, has been insn;rea
oy the prudent Management which has enabled
'heH 10 survive the attacks that have been made
"po" 'hem and to resume specie payments a,
'ilhe "hen the energies of the Government ara
directed against their very existence. Rusiosss
we confidently anticipate, will soon revive. and
prosperity again gladden. the country. and .na.
BILE the people TO pursue their ayoca,;o,s x;,h
'.' "ouonns 'he Government 10 listen TO the
tale OF their sufferngs.
some DOUBTS have been expressed as TO the
ability OF the Banks to maintain the resumn,;on
winch has been so auspiciously commenced. and
in'imations have gone forth from certain mar
tiers, that they will again suspend. ca .oo, -
'ney may succeed in getting large quantity Of
Their notes into circulation. We do no, NOR
uOes any unprejudiced mind, give the sligbtes,
credit to the base insinuation. The Banks never
did 'c'H'ngty suspend but were driven 10 thu,
measure by the heartless policy of the Admins.
'ra'ion' which first wooed them to it, foul EN-.
orace' BY holding out TO them the hand Of friend.
snip, and then undertook TO annihilate them all
because some of them stood in the wav If ;,s
progress towards unlimited sway over the MO-.
e'ary system of the country. Experience ba.
taught them wisdom; and henceforward thew
VIII deem il no part of their duty 10 ba :,
way connected with those whose pe,6a,, -
caused them so much trouble and DANCE, r.
Banks can take care of their own Interest. ans
manage their business better. il IL, alo,o a.
they can il they permit themselves 70 ~ , na~
nec'sd with an Administration, avowedIv 10.
tic 10 Their interests, or take counsel from,
lizan leaders, whose cry is down with a.
Banks and who sOlemnly ASSERT tina, no,, 's
'i"ef are the only legitimate CURRENCY =, :.
country They have now, upon their ow. -