Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-27

10 pieces like The polters vessel"
Resumption of Specie Peymcnts-npproacaing!
The n Y. Herald Of the gid states that at an auction
of teas the seller in announcing the terms, took The
distinction in practice, between payment, mace
New York currency and those made in Philadelphia and
Southern. For sales payable out OF New York, they
have required The difference of exchange 10 be added at
the time of liquidation. In company of loo persons
only took exceptions 10 these terms, ~ walking
away"
"Foreign exchange from other causes is tending
downwards-still more in favor Of this country. 10.
day. British Government bills, to the amount OF iUl'
600 or So0000 for expenditures IN Canada made lhE
appearance in Wall street, in readiness for the next
packet From this and other causes foreign exchange
may be depressed 1885, if not less, before muci tame
eapses."
The same paper ofthe 3d. says "lhat during TIE as.
two DAYS a highly important secret mission from The
banks Of Philadelphia. have been moving around W all
street. like the spies Of Joshua, mt Jordon,
to view the nakedness OF the land OF Cannan. MT e0P
perhwaile the very talented Cashier OF the u Sales
Bank and Mr. Lewis Of the Girard Bank, both OF rnl.
adephia have been consulting and conrersng with oui
cancicrs as understand relative 10 The position ana
tendency ofinund exchanges, of money matters and
the resumption OF specie payments lhe particular
points which they have visited u.s. have not yet been
fully divured but from the condition Of the U. s. Bank,
and the approach Of the Bank Convention very ma
turay inferred 10 be in relation 10 the balances-le eS
changes-and the present rates oil discount on fhIa'
deldhia and elsewhere South.-The time is now rapidly
approaching when it will become necessary tor The !.
ladephia banks 10 broad and distinct 20.
Icy, calculated assmulae TO that OF Boston and Neg
YnSk, TO be content TO take the consequences taat
will affect their credit in Europe and The con'nefcl
world"
The ~ n,ericon Of the 21s, publishes strong let.
Ter from Boston 'announcng the agreeable intelligence
that the Banks Of that city ready TO cooperate wan
those of New York in the resumption of payments -'
writer Of the letter is Of the highest aulhorty-and he
presses, it will be seen, that this resumption should be
immediate. We, ourselves, see reason whatever Why
it should not be; the mere ormaly OF waiting Tor tae
re.assembling of the Bank Cunvention-wbich, alter
n may assemble, since the main question has been
already settled by The decision the New York Banks
have announced for themseves-shoud not be permit
ted TO stand in the way Of such desirable result-he
do not doubt that Connecticut and the New EngIaha
States generally, are alike prepared for resumpon-ana'
sure that it is only after resumption al Inc
Banks should, can, gradually expand their issues 10
meet the wants Of the spring trade and thus paEuay
revive almost exiting uished industry. 90,
"There is no demand Tor specie for any quarter
il is and will continue TO be. constantly flowing here
PHILADELPHIA yet hOids back but tic ores Of our crdmp'
added 10 tie obligations Of morality, must, as seems 10
us, induce her and the cities South 81 her 10 co0pefa
tch, or Immediately f0ilolo m0rGment.-lhe appe'
henson that the Sub.Treasury bill may become aw'
now also pretty much abuled The opinion seeming 10 be
settled that in its most odpus FORM it cannot possibly
pass and the probability being very strong, that II can
not pass the House of Representatives IN any sAape'
The Delegates of fifteen Banks of n Orleans assem-
bled in Convention the 10th inst and came 10 CERTAIN
resolutions, which subsequently ratified by Their
respective Institutions. They adjusted scale OF c'rcn'
la,on for each Bank in the City, to be regulated BY the
amount Of Capital paid and accumulated Profts-the
already issued TO be called in-and those which
now fall Short may gradually increase their issues up
the specified standard-and such of them as wish 10
avoid issuing notes payable on demand in specie snn
have the privilege of using their notes. stamped on '
face, payable notes current in the Banks Of the Guy
Yeo Orleans or in Post other Notes stamped 'p"yas
on 1s March, le40-and said notes shall be received
all the Banks parties hereto in deposile and in payen
Of debts on the came footing of the Banks ssu
ing them payable demand" Cd. They determines
that seac bank shall have lis vault in gold or s'et
on or before the LIST Of March, 1899, oneth Of its c'sa
responsibilities, and the lst March. $780, one-thro o.,
its cash responsibilities Sd, Each of them !"
publish monthly state ments Of their condition.