Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-04
VOLUME 4XyAV.---NoIIS-

he Si1a
The banks will be able surmount all obstacles and an
or before the tenth of May resume and maintain
Gle payments" sP''
From this authentic report, it is seen that The bank,
o' le city OF ~ York have determined 10 resume spece
payments or before the 10Th of May next that they ask
nothing but the CO operation or forbearsnce of other
ana are afraid of nothing but the deliberate hos.
."y OIL some nonresuming banks in other cities that s
i,y W. piddle Bank in Philadelphia. This is the
language of the banks in New Yofk They ask no.
ming, and they fear nothing, from the Federal Go.
Vernment They fear nothing from the Sub. Trpa.
snry bi They declare their only danger 10 be in
me conduct Ut the non resumng banks of some nep1.
boring cities Now, hitch is entitled TO mos, c,e
DIT in this contradiction of opinion the New York
banks or the politicians this floor? Certainly it is
case IN which the opinion Of the banks must prevail
ihey know Their own condition; they know the condi.
Hoh OF Others they have the work Of resumption 10 per-
form, and they say they perormn If th.y can all
othei e"nh" ""st be able do likewise or must have
Use % upon the country, when they stopped
payment last way Tor all then declared Thai they did
moi stop from their weakness but from The er,mIs
oil New York, and that they would be ready 10 resume
whenever her banks did This was the language of nil
SnG OF none more publicly and positively than that of Mr.
biddIe bank The banks, them upon their own show.
ing, are all able 10 resume and it is mol for poi,icans
who cannot be admitted TO know the condition of the
banks as well as the bnnks do themselves nd who have
, ,e'r own political objects to accomplish by poIongiug
Inc snsPension-t is not for them 10 discover excuses
Tor The future failure Of the banks in the acts of Co.
Vernen the whole Of whose are in their ewes full
OF folly and ruin Even if these politicians stood be-
lore the country sound Judges their indynen conId
not Gene IN competition with The opinion Of the HANKS
Dn' lhey do not 50 stand They do not stand "a sopnd
judges, but as fral and fabe parsans whose habnnI
vaccination Of ruin from every act of the Government
Whose thousand and one mistakes heretofore commit.
o-"hose burning desire 10 get into power by destroy.
ing The credit of those in power-must reduce them 10
he condition OF permanent prophets Of wo predicting
destruction as matter Of course, from every thing
which their adversaries do
The establishment of a Treo.urv h,pL 10 Ola, 49,.
great objection 10 The bill. 1t is declared 10 be Trea.
sury bank; and then frighful picture of The evil Of
sncn bank is drawn by each speaker, and held up to
errty The people. | thank them for This obiacI;on. II
kills off four Others which this party have made ausinst
tins Administration, and each Of which thew have
insisted with all the vehemence with which they now
urge tins one 1t kills off the whole charge of in.
tending to establish a National Bank in ~ " The whoe
charge OF intending to impose the safely fund svs nm
on The whole Unon the whole charge ofnending TO 20.
vern the country, by corrupt league Of pet banks and
'he who'e charge OF intending TO impose exclusively
metallic currency upon the country The establishment
OF a Treasury bank is inconsistent with these four
charges, and, being the last charge kills off the others
In this, 1t does good service 1t shows what stuff the
gente men charges are made Of 1t kills off four of
their most serIcns charges at blow, and now we will
Kill 1t off, and finish FIVE together This can be done
with two words in the first place there not one ea.
ure OF Treasury bank in the BILL in the second place.
pledge myself 10 to eradicate IT, if gentem.o cnn
show me single feature.
Sensible that there is nothing in the bill to Justify the
OBJECTION gentlemen fy off 10 supposltions and charge
future design TO erect Treasury Bank upon the foun-
cation OF an independent Treasury and furnish the Go.
vennen. with boundess money by the issue of
eXche9uer bills in The shape Of Treasury notes To these
ilnaglnations oil the gentlemen only oppose posi-.
tive denias and wait for time perform its Office upon
the, s. sSfgs nHts. as ii has don" '
,Lird objection is to the insecurity of the public mo-
in the hands Of the Government agents Genie-
sp SUPPOSE that the moneys will be much safer IN the
keeping Of the banks, than IN lhe CUSTODY o' 'e
oceonted hy the Government 10 keep them. This is an
objection which both and experience rejects
Reason teaches US that number OF men acting together
will do tina, whicheac one OF them, individually, would
scorn to do Thus board Of bank directors would DO
an act which each member Of the board IN his own IN
divdua case would spurn do Take the cuse oil the
thirty millions VI public deposites IN the hanos OF the
banks in May last They were in the custody OF ooatas
of directors and boards the directors acted IN efus
inr the restitution OF these depnses 10 the treasurer
nC the United States and 10 The disbursng officers 10
whose names they stood But suppose these thirty MIL
lions had been deposited with the members Vi lue
same boa rds their individual capacities, he personal
honor 10 saw nothing of their bonds and secuIes oouho
for The restitution would have restored the amount
to the last dollar and felt the deepest huma!ion al e
slightest delinquency. Such would have been their con.
duct Al individual is safer depostary 'hah o'"''
and tar better would be to conhde The puoc depo
scs TO nny one single director OF bank than 10 inc
whole together a corporation corporation nus no
soul and no conscience: individual director has both
and these with his bonds and securities, Woud oe lne
L;bss, edpe for his fidelity This what teach
rs ma Now Tor experience We have Treasurers OF the
q S and but one Treasurer at a time These lfeasu'
,srs have passed through their hands, counting from me
foundation Of the Government, about e'ght hunG'eu mn
lions of dollars Has any part Of these eight hunnfea
millions been lost in their hands: No not one cent.
Again: we have Treasurers of The Mint, one at time
These Treasurers have had the actual keeping counting
and paying out, OF seventy three mi.ohs OF ha;
p,ld and in silver Ha piece OF it been lost IN lher
hands, No: not onel Under the bill before US, Inc
minis are to be made repositories OF the puosic moneys
Experience shows them to be safe places; hef Pecnat
occupation makes them proper places; ana WISH we
had three or four of hem and then all the PuDe
moneys might be deposited IN them
Rni gentlemen in support Of their objection, MADE an
assertion and started inquiry which mas enoea IN hs
total overthrow of their position Ihey Ventufeo upon
question of fact-a question OF hgures ano recotos-a
question 10 be answered by documentary evidence II
was as TO the comparative amounof losses "helher te
Cover nment had lost most by using BANKS or oy trust.
ina IN their own fiscal agents; and IN tnis inquiry gen
ilemen were bold in their affirmation, that the comPa-
son was 10 the disadvantage OF the Govefnmen.
and entirely in favor of the banks. now uniofunss
for their argument this attempt to DO honor 10 lhe
IL has led 10 official inquiries at the treasury DePal
mon, and here is the answer. 1t is a communication
from the Secretary of the Treasury dated February 2o
| Of the present year, ,,, ,,, &c
ain answer 10 the first inquiry, as to the amount Of
balances against all banks which have been used as pup
liz denosoties that is not secured, will probably %
lost, adding thereto the estimated loss hal mas aee
NV taking on public account deprecated bank notes,
vopld observe that it is computed those paiahIes
will be about 81 900 Co., and the loss BY taxing sSsn
notes about S., $40 900; making in the aggresu.,s
100000 This is without the addition o, any .. cast
az are the subsequent statements IL interest WOE
ao the above sums the aggregate would exceed $751;
0O0.O00 .,,,,;o, rests arr. that
M ,n,;n, balances against banks that have oeen pup
he s,5eds to the credit discussing
ing Sn'' OF this sum stands against Old
REPOSITORIES and the residue against recent ones
s ~ By s aass ssP sss as'i;
,bsTs is now on hand of such notes. then received,
and paid away collected about sooo more 9o
as is more fully detailed in report to the senate IRON
L.. n.na1iment made the LIST instant THESE cohs'