Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-07-27
itic.s,saond, Friday, Jusy s7.
Gk.iTLEYL.YG PEOSpECT

GRATIFYING PROSPECT
When the Banks Of Virginia followed the example of
the Banks of New York, PennSy !yanla and MARYLAND
in susrending specie payments in May. le37 the; as
sued their holders and the public that lhcy would
be prepared 10 the payment of their liabilities in
specie simultaneously with the Banks Of those S.ae,
a the late Convention Of Banks IN the CITY of rhad.l
pha. the Banks u! Virginia not personally rep,a
scented, but they gave assurances, by written conmrni
cations 10 that Convention, that they would Cooperate
in any measures which they might ADOPT for an e,ry
and simultaneous resumption. The Convention hay.
Ing appointed the thirteenth day OF August Nhe day
designated by Governor Ritner IN his Proclamation for
the banks Of Pennsylvania to resume the Banks Of y-
gina will redeem their pledge and reconmence specie
payments Mai dnV With The present rates of tora,o
exchanges, aud The large amount Of specie noyy in The
country, the resumption by the hunks will be found 10 LA
sale aud easy operatonand If the larger banks will
be to themselves and TO the community there Will
be danger OF another suspension for many years not,
wthsundng The preboGings OF Of the prominent,
politicians OF The day. The banks must have aCGued
bu, hule knowledge fiom The LESSONS Of experience If
they shall again yield to the cupify of making inorJ.
profits, and thereby endanger the!. reputation aud
existence.
Bat there is corraative duty the part Of the Pub
lie individuals should indulge in the vain hope Of ra
udy amassing sudden fortunes by speculation aud over
action in their respective caiugs The gradual i'm.
provena ofour by industry nd moderate one.
raons is Infinitely mare beneficial 10 the country than
the sudden starts Of speculation and overadnr winch
while they may enrich the fen, aure To niurr the
IN
their business the domestic exchanges like The foreign
will soon come their proper evel-ihat u.s. they wI
he regulated by the only true sandafd-he md rsk
of transporting gold from the debtor TO the creditor
points The favorable state OF the crops in Virginia,
will give en,ire confidence in the Of the trade
Of the State, during the current year and the people
have only 10 restrain their desire for foreign luyu:is
to ensure the comfort and happiness Of independence
The Legislature al their last session, authorized 10,
banks to continue the suspension of specie payments
until the first of Aprl and moreover rcqH,red them to
ssne of the denominations o! one aud two dollars
with tie privilege 10 issue such notes tor three months
after the resumption viz: I'LL the first of July
The Banks however, under existing circumstances, viii
anticipate the period Of resumption Than
months and will conform TO the resolutions o; Congress
by crasiG tn issue nutes below the denomination OF ve
dollars on the first OF October.
Under this aspec, Of the subject, whilst domestic Ex.
change be vel regulated by the State Banks and
the exchange brought down. as 1t viii be- toa !ow point
BY The resumption Of specie payments what possible
prcexl there De for Bank Of the L. States, (aplt
rom all the riSchcrc@S effects, and constitutional oH
cli0ns, which may be urged against such Corpora
On
qor,nncats IF the Fhiaddpha Baats-r Caro'iaa, So.
We lay before readers the folio wing article from
the Philadelphia Inquirer OF Tuesday:
G0Csya0r Rttaer and Il General resumption Of Specie
PAYMENTS
is with feelings of more than ordinary sllistaction
that we announce the People Of Penns MA tina,
the Bank Convention which assembled IN this city yes
v.
2!ner unanimously Ts$rired upon tie Thirteenth Of An
Us ensuing Tie proper and appropriate Peri"d orMs
cncrai resumption Of specie payments We annex The
ocepdings of The Conyenton copied from Postsc gt
Of Bicknes Reporter OF this day.
THE BANK CONVENTION.
n Gtncyh Resumption on lie l:}h of .7ueust.
The Back Convention assembled IN this city yestar.
day, at u VI. The place OF meeting was The Bank Of
PennSy lvanra.
Jomx B MoRnIs, Esq, President Of the Mechanics
Bank Of Baltimore, elected President of the Con.
venton; aud ELiA0 CHAuScEr, Esq, Of this city, Sc.
cretary.
The Banks Of the following States were represented
i.her by delegates by letters binding the Institutions
10 abide by the decision Of the Conventions
MASSACHUSETTS,, MARYLAED,
CoSHEcTICur, NiKGISIA,
RHGDE lsLASp, Kentucky,
PESSsrLyASIa, MISSOURI
DELAWARE,
After considerable debate as 10 the proper and appo
pirate day for general resumption, the following
luton unanimously adopted:
RtS0Ired. That the Banks represented in this Con.
renuon, will resume specie payments the l3lh Au-
gus. next and recommend that day for the adoption Of
the banks generally.
The 18Th Of August, il will be remembered is tie day
mended IN Gov Rner's Proclamation. II VIII
be glorious day for Pennsy lvania and indeed for the
whole Union. Huzza for specie payments aud more
prosperous times!
The Banks of Baltimore arc expected TO fall into tie
ranks-Those of Virginia will seiz- the opportunity 10
sumo the 13th hUgust-and may state, by The by,
that the two Banks Of Richmond have been recently
strengthening themselves by obainng specie from the
North We were very much amused the other day (rues
day. By the remark Of an African was conempln
ing with apparent pleasure the kegs Of specie they
were rolling into the Bank Of Vrginia-"Aha! lex.
cliimed hey like 10 these kegs. They look il
We were going 10 have Sub Treasury IF our olca'
The Bank Of the State Of .NorM Carolina is nbou,
deemng 'the pledge made through its President last
month, 10 resume the payment Of its Liabilities in specie
The co oPerson Of other Banks rendered the
safe judicous. This BauS has just issued
The following notice:
Bank Of The Suite Of North CarOiiaa,
18th Of July, 1885. )
"At meeting Of the Board of Directors this day
e" Resoced, unanimously, Thc! this Bank and s
Branches will on the first OF August next resume the
payment Of their respective liabilities 10 specie.
A Copy from The Journal.
c. DEWEY, Cashr"
The friends Of the Bank Of the u States have claim.
ed the credit OF its being the active of restoring
Gle ents in lcl6-The theory has been dened-but