Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-04
u. S. B.4NK-MoNEY MATTERS.

The New York Herald of Monday last states, "That
the United States Bank had been offered large amount
Oh specie 10 assist that institution in returning TO specie
payments We now state that population left this city
a few days since TO make The Offer, and was received
rather caValiery on the part of MIR Bdle, who replied
lhat ne had taken his position, and should maintain It,
without any assistance whatever Mr.. Bldde seems
to be IN fair way of making his Institution odious TO
the great body Of an enlightened people.
ne Herald States that the packets were to sail on
Tuesday; but that "the business done in exchange
London has been very moderate the demand generally
much less than antcipated-the asking rate at opening
by the leading drawers per cent which gave
place TO ID per cent at which The best bills, to small
extent, were sod-the rate further declining 10 6 Ia
and l.2 per CENT at which prices the leading houses
were Offering their bills Change Late in the after
noon we heard Of sales at per cent OF good bills. Bills
on France opened al 80 l2 5 80, and fell early to
537 l-2.
"Olherwise il has been dull day 10 quantity Of bu-
siness transacted but we perceive no falling of in spirit
and confidence. The small attempt at a resumption in
Philadelphia has operated TO produce greater hrmness
IN The rates at which the money Of that city is held but
no material change in rates has yet taken paceThe
dividends by The banks are daily six
city banks have made dividends from 10 10 per
for twelve months-the New York Gas Company d.
vIdend oil per cent. for six months The State stocks
declare their dividend 10 morrow-Spccle IS Still! How
ing into the market From Bermuda yesterday was re-
ceived S2J0,oO0-a!so small sum from Iobasco Today
Al New Orleans on the 2ls., specie was at and per
cent premium"
The Globe remarks that all eyes turned 10 the
millions OF New York. while the hundreds OF thousands
OF New Orleans attract attention In this way II
escapes observation that the West and Southwest are
repenshlng with specie not rapidly but as fully and
surely. as The Northeast. Every week we see two
three hundred thousand dollars noted arriving nj
New Orleans, and the 9th and 10Th instant, 3o00O0
arrived in Two days. The supply at New Orleans has
this advantage that at New York-t ia perennial.
1t continues all the year round, and every year in sue.
cess;on and is The regular sequence OF the Mexican trade
Besides the coin which comes TO New Orleans, we
the arrivals OF the bars OF silver mentioned there a.
rect from the Mexican mines, and brought 10 the u s.
Mint at New Orleans This Mint is 10 becume O main
coner Of Mexican bullion
The Boston Daily Advertiser stntcs, that "the Mer.
chants, Columbian and North banks Of this city, and
perhaps others, have already resumed specie pay
ments in full We have little doubt that their example
will be followed by the other banks of this city and
State have any doubt that thoy will persevere
in it. 1t was evident weeks s!nce that they had
prepared themselves for such course provided the state
Of the foreign exchanges favored the adoption OF It. II
has happened that nothing could have been more Ia
vorable than the of the foreign exchanges and The
consequent influx Of specie. The currency OF Massa'
chuses therefore, is restored TO specie basis and the
first step is taken for the restoration of Mercantile con.
fdence, credit and business
A small but cheering sign is given by the thiade!Pha
Sentinel of Tuesday last We learn that the banks OF
the city and county making arrangements TO pay IN
specie in few days all sums under dollar. The
City Councils have passed ordinance authorizing the
City Treasurer 10 issue new loan OF 2ouOOO, payaee
in Nav 1870 TO redeem the certificates now IN circua-
tion Which are due the 18th inst. We understand
it is the intention Of the Treasurer to issue certificate
under dollar We that the loan companies and
the incorporated districts will also make arrangements
to redeem all under doa. as speedily as possi'
be-"
.Thc great Regulator is the great obstacle in The
way Of specie payments. But public sentiment is ris-
ing against him even at his own doors we nan the
following account of public meeting in Philadelphia,
with the greatest satisiaction
.SPEcIE PAYmES1s The public meeting Says the
PennsrirGnan) Monday evening a, the county Court
house favor Of a resumption OF specie payments by
the banks, very nurleEousv attended a Wu!ituGe
of people who came forward in consequence oil The CALL
were unable obtain admance, and had the room been
many times larger than il is it would have been com.
ple;cly crowded. MIR. Andrew Miller acted as chairman
on The occasional series Of resolutions expressive OF
the Of the meeting upon The important subject IN
der notice, adopted and number OF SPIRITED I'D.
dresses were delivered The meeting adjourned to u.s.
semble again on Monday afternoon, May l4tb, to Iear
the report of committee appointed 10 address the banks
in reference TO early resumption.
81" is plain that the strongest feeling IS abroad IN re-
ference 10 this matter and that the people OF Ph!ade
pha are Justly impatient, at the continuance Of state Of
things from which their brethren Of York are now IN
effect released II is TO be hoped therefore, that the move
ments in this city, and the general course of public OPT
Mon among Of all parties will not be without their
legitimate effect and that the first step towards resuup
lion as announced in the determination OF the banks
speedily 10 all sums unuer IN specie, VIII
be Immediately followed by prompt adoption OF that
policy which alone restore confidence and revive
prosperity. 1t may be- as the bank letter assures U.S.
the preroEatre of strength not 10 be afraid OF the post
ronelnent of fulfilling ob!gations-but the same policy
IS 50 often the necessity Of weakness, that it is very DIFF
fcu TO discriminate between the cases-cerlain it is
that the public do not and long the suspension con-
tnues Just long will industry energy and enterprise
b. hound in BY saucy doubts and fears, and the dead
weight of dslrust and apprehension sit like incubus
upon Philadelphia. Every one sees that now, when
specie is flowing rapidly in upon us from every part Of
The world is The movement for resumptIon-Precisely
the moment foreled in The bank manifesto of last year,
and by all the ogcians rules now must be the time for
shaking off the crushing load Of totally irredeemabe
currency.
Thus from every quarter the are about to be
pu, on Mr. Biddle He will be compelled oy The iorce
Of the publc sentiment and the character and credit of
his Bank in Europe, to resume, If he But ais IT
ABLE TO RESUME Under this head, the last Globe de-
votes more than two columns able discussion of the
question We take the following extracts for 10 day
w. shall publish the whole article hereafter:
The first item to be looked 10 in every bank is the
amount of its specie in hand and the proportion which
that amount bears to its Immediate liabilities Taking
four millions OF dollars in round numbers, as the amount
If tho hank specie will what are the Liabilities
which il must provide Cor either upon the instant, or in
sor, time after the resumption. At the head OF these
l.biIie, stands item in the catalogue Of tnls
hanks debts: TINT Of It's debt 10 local banks Ihls Hem
,Ione nounces the deporabe decline OF the great re-
o,Io,or' 1.-THE amount due 10 State Banks is The
Enormous sum of S6e53,s49!!! And this is an
inerensing balance, and known to be on interest. Eve
~ return since the soppage of the bank shows an in
crease of this State debit and nothing more is wanting 10
show the heiess condition of Mr. Bddes bank, and the
wreched manner in which has been managed Against
this enormous debt due 10 the State banks there
aouarent set off of 50 $50 37 due from local banks TO
Nj Biddles If this Get off real and was actually
due from independent State institutions, the balance
agoins, would take the whole of the specie which the
bank possesses and then lack quarter Of million
of meeting what is due TO banks But it is not real
60, o-jtis not set off due from independent banks
bu, is chiefly due from the numerous dependent local
banks now prosued TO the degraded condition of Bid
die bank agencies The greater part of this apparent
sci off is due from them that is to say, due from Bid