Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-01-20

friends Of the Administration They have already made
anseScellen effort They like oil poured upon The
waters few touches, und all will be right! The same
sprit of Cancellation, and all will be well A rood
system will be devised for our finances; and harmony
aud Reunion restored 10 our ranks We congratulate
our friends upon the prospec-and cannot but look
tor the moral influence will produce among friends
al Washington
We publish with great pleasure The following para
graph from the last Char ultesvc "Jeersouian Repub
cam:
The Richmond EnYnirer disclam,s all intention Of
forcing any man from tr Republican ranks upon mere
difference OF opinion. Of this. never doubted; yet
fear that The tine is coming when difference Of OPT
MON on the Sub Treasury scheme will be considered
good ground to kick The offender from the party, or t
cripple has Influence as 10 compel him to come into
measures. With the Richmond Enquirer, we are anS'
ious to have tie only question about which our
friends disagree, settled forthwith, in liberal man
ner, in The most concaloy spirit and on one common
ground. We have not the least desire to see the Prn'
cipcs Of the Wings in The ascendancy nor shall we do
any thing promote such obect-yet we cannot but
regret that the Administration should have pursued lhe
course it has subjects. But nevertheless, we
ready 10 accede much for the sake OF harmony and
the good Of the cause. We should like TO see all The
friends Of the Administration Stand upon the ground
they did two since, and then we could battle with
the enemy without fear aud without rePfoach.
MONEY MARKET.
The N Y Gazette OF Wednesday gives US the fol-
lowing statistics:
sThe meeting Of Bank officers Saturday evening
last the subject of resumption OF specie pay.
ments and adjourned over 10 Saturday next. II is in
contamination TO appoint committee to proceed to Phi
ladephia and ascertain from the banks there when they
will be ready and TO invite them TO day for ge
neral resumplion but it is understood that if the Phlla
delphia Banks should refuse TO fix upon some definite
time, the banks in this city will make immediate ar
engagements to resume without their cooperation.
"'rhere is pretty general complaint that money is
getting scarce ind cannot how it could be other
wise, while the banks continue to curtail they have
for the last few months. There is doubt but that they
will persevee this until there shall be gene
raj return 10 specie payments and confidence become
restored in moneyed institutions Stocks brisk
Yesterday advance of Id several Of those called
at the Board. The Manhattan Bank Sd. Sales of
Treasury Notes at 90 $685. which is something higher
than the previous sales Nothing doing in specie, though
it is held rather higher; for American gold 81
offered and = Is for Mexican dollars.
Exchanges London for the packets Of to. day ruled
Yesterday at 10 q III l-2 The United States Bank
purchased fl0O0 900 Saturday, and left the market
rather bare.
ton in price from Fridays Flour is held at So 81
s. 10
The n. Y. Herald of Monday states that, " for some
time past there has not been such amount OF exchange
negotiations by the present packets. According to
the best estimates learn that the transactions in 70.
reign bills will equal S75O0D0 10 LIVERPOOL and $780,,
600 TO flavrein all 81 600 OOO TO this large amount
required by rcm,tanccs and the unprepared state of the
market may be attributed the advance in the rates In
land exchanges also mprovnglhat is, equalising,
parcularly between New York and the South. On
Philadelphia and the West they stand usual-on Bos
ton, Notwithstanding the panic among the banks there
We note little difference.
"'rhe action and momentum Of the foreign exchanges
are the mos. important. The rally of price aud urge
amount rellunces spring from identical causes. All
the packets to sail are full -four products going forward
and the packets OF the LIST of Feb halt engaged
The quantity Of American productions seeking expor
ta,on 10 Europe is far beyond the supply of vessels
This inequality in the supply and demand OF exports
increases the rate OF eighs. II Is also well known
that much larger importatons OF Foreign goods will be
made here than many expected. The old importing
houses swept away crippled by the revulslon will
not enter deeply i'll this new move.nent-but the new
houses opened here the shape OF agencies from TO-
reign houses have seized The opportunity, and will avail
themselves Of the fine chances opening upon The next
spring. a large amount Of the spring mporlalions
will probably be oregn account The great crops If
1887, now coming forward, and regulating the North
and Southern balances and exchanges will natural
ly attract foreign goods here.
The suspension Of the Commonwealth Bank at Bos-
ton has produced great deal Of excitement in that
runy and elsewhere. The subject has been taken up
in the Legislature Of Massachusetts and MIR. Webster
has brought it forward in the Senae.-The Boston Ga
zette insists upon it, that "1he in which sin.
gle Bank has been conducted ought not TO create undue
prejudice against other institutions. As body, the
banking institutions in the Union Their affairs are in
the hands Of correct and substantial men, in whom I'M
diminished confidence should be placed. We trust,
therefore that the mompntary excitement occasoned by
the event of Friday, has given place TO spirit Of
fdence The emergency should be met with frmness,
The part of every citizen, nasmuch every kind o.!
panic has all injurious tendency"
This panic has been unfortunately augmented By poll.
teal causes. 1t of the Sub Depose Banks; and
some of the u S Officers had kept their accounts with
it, OF consequence party spirit has seized upon lis
pension, in order to raise certain camor against some
of the friends of the Administration But the Boston
Morning Post has met these charges with spirit,
in the following article:
"7he Federal Papers very anxious 10 throw odum
the Democratic Party, consequence of The suspen.
sion ofbusness by the Commonwealth Bank Those who
have examined into its condition, think that oil its bills
will be redeemed and its obligations 10 the Government
and other creditors iqudaed by sinking less than
half Of its capital stock AS TO the matter of failure all
the banks in the State did that last May and suspect
that the holders Of the Commonwealth bills will real.
ze the promise the face Of them, the other
banks ready 10 fulfil the pledges borne upon their
notes. There is excitement enough already in our
financial market without endeayorng 10 increase it for
eIectioneerng purposes the federal papers doing
but think the community would be gamers if
ny more banking institutions in the State would stop
business and settle up their affairs The of
events proves every day the wisdom OF the
daton of The President all connection between
Bank and State. As Mr. Brooks remarked in the House
Of Representatives. whole banking system is wrong,
and requires complete and thorough reorganizaton.
We make distinction between the banks-iave no
wish to auy-let the system under which such
gross abuses lave grown up, be radically reformed,
while the present banks all held to he strclest
couu,ability for their past conduct We have apollo.
gy offer for the Commonwealth, or any other bank
the Democratic party is in way responsible for their
conduct and has denounced in the strongest TERMS the
manner in which they conducted, and called again
and again for change. We repeat, that we know no
difference between the Commonwealth Bank and its late
associates, judging Of the conduct of each and would
trea, every one Of them with equal impartiality.
"The Alias tries TO hold MIR. Henshaw-(the late Col.
lector of The por responsible for the soppage Of the
Commonwealth Bank. Mr.. tlenshaw never was a d.
rector Of that institution, and knew about the
management of il than the editor Of the Atlas In