Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-20
Statement sso,otns tie a,vosnt of Ike saLes Of the pubic
81 OO4 53S

Mr. b. took up. No money, was the cry. Commerce.
labor industry Of every kad, stsgnan ianguIshingf
parayzed for OF money TO put tie wheels OF bust
ness IN molion Such is the lamentson wf'ch nils THIS
chamber aad s re echoed every whrIe Su Is II true:
Is it true that the country is destitute o money or only
tina, banks and capitalists have locked 1t up and iaic
it away 10 EclIoos scarcity ard thereby ad Po
l,icians IN promoting dscoGtrnt and in accomplishing
political revolutions: This is the question and lei au
thpntic facts IT, What IS the acnai amount OF
cure ncy paper well as specfe, no" IN existence IN
our country TIE most recent and ssthentc esiiales
will place the amount al abont one hundred and seven
" millions of dollars namely eighty millions OF sptc'e
and ninety Eve millions o. bank notes The specie wac
computed that amount year ago. and has been IN
creased near five nIihors daring the year lco'-the
wear If ruin and is daily nceasing the bank notes
now in actual circulation computed at nIDe hve
millions by the gentleman in the Treasury Department.
charged with correcting the returns and e5posions OF
the banks and who has made oct this statement nj my
special request be used upon this occasion ffecse
accuracy he knows 10 he una Grnable, but cnse aP
proxina.ion 90 the true amount IL early accomplished
where publicity Of bank reports are 80 general as hey
now are. The oIanum OF one hundred and seventy
millions NAV then he assumed The amour; ct the cur
rency now in existence m The U. States How VIII ms
amonnt compare with periods proclaimed 10 have been
and held tor Unceasing admiration ana
gratitude, There are two OF those periods each mara"
mo the termination Of National Bank chartfr and eac
presenting with the actual results OF the operations OF
those institutions upon the general Currency and each re-
pete with lessons of destruction apPeroe 10 the present
dav and The present state oil things The hfst OF these
periods is the year lSll when the FIRST National BANK
had ran IFS career of twenty years, and was Fermitro
he Congress- To expire upon its own limitation take
for INV Guide the estimate Of Mr.. Lloyd, then Senator
N Congress from the State of Massachusetts, whose cig-
nity of character and amenty Of manners is 20 Peas'
ioGy remembers BY those who served with hm here,
and whose intelligence and accuracy entltle his state
rnents to the highest degree Of credit That emnen'
Senator estimated the total currency OF the country nt
the expiration of the charter of the first National Bank
If dol IN
and 6fty millions IN hank no'es How compare the Two
quantities and mark the results. Our population has
precisely doubled itself since le The increase OF oar
currency should therefore, upon the same principle OF
increase he the double Of what it then yet 10
three times as great it then was The next pefioc
which challenges stteDtion the veto session CT
ls32 when the second Bank Of te U s., according TO
the opinion of its euogs's had carried The currency
the ultimate point of perfection What was tho amount
| then According to the estimate OF senator from
| Massachusetts, then and row nemoer OF 'h's o"0yp
(Mr Webster,) then a member OF Inc FINANCE Commit
cs and with every 10 the besi inormauoh inc
whole amount of currency was 'hen est',"aS ~
IoO millions: 10 wit 20 millions IN specie, and 10 70 GU
,;o,s in hank notes. The increase OF our population
since tina, time is estimated at 20 per cent so that the
increase of our Currency upon the oasis OF
! on,,tion should also be 20 per cent. This would
~ an increase of % millions of dollars making. IN
ssh shole 100 millions Thus, currency in actual
r;,snce is nearly third more than either the ratio
n Iall or Of 1892 would give Thus we have setualy
about 50 millions more IN liNs SEASON VI w" ''
t;,u,on Than we should have, supplied only IN inc
ratio OF what We possessed al the two periods OF what IS
al the best condition Of the currency, ana
mos, prosperous condition Of the country So much ior
quantity, now for the sodty Of the coency al these re-
spec,iye periods How stands The question Of soio',y
Sir it stands thus IN lsff Eve paper dollars 10 enc o..
silver, in 1892 four TO ONE 1899 one to one as near
=. can be Thus the comparative so!itity of the cur.
rency is infinitely preferable IN what ever vas oeo'r'
for The increase rnde the sagacoos policy ct Gen Jack
taken place ',f bs y Tn s the Ssn