Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-21
TUESD.gA'. .EEResE 81, G%:ss.

~ lhen; II 20 u l2 now Ohio from to then; II
to now. keniucky-(aad ~ the name Vi hentuc"y'
Mr B. raised his vufee, and epeateG te name WIN great
emphass) -Ken,ucky, from - to So ard from % 10 81
per cent. discoun, ihan from = 10 i discount now
Let gentleman suppose there any in-;aae OF figures
il this reference to Kentucky There Is more man one
person present who then IN kentucky: ana knows
that 80 per The difference Of exchange
against her currency. ! GY-eif travelled IN Kentucky
in ,ha, period and know The fact. and oi.sn saw the
bills OF travellers and others made out aOHbieao nluch
in specie. and much in kenHcky papP!-and Inc it'
Ter precisely The doshe Of the former Such 10 The re-
suit Of th- comparison between The year $50 AND Inc
year le3S in almost every instance decidedly IN aV"! OF
The present day and IN the Of Kentucky len TO one
more favorable TO her than then. Yet this Senate
is 10 b. laclured and the people Of the United States to
be terrified with ,ae Of the ruin Of these exchanges,
brought a6out e the Hsale OF senseIess wicked I'M
practicable, AND outla ndish Administration Such is
the result the in exchanges as IN commerce and
every hing else; the country incnmparabY better OIL
than j, ever before. and set grave Senators. or
Senators who Hu2nt 10 be Cr1v" seen 10 rise IN their
places COMPOSE ljr faces iur the Expression Of woe at
their Voices for the COMPENSATION OF !amrnahe
sounds. aud hsn enact In! part or F"iG-y sitting upon
the RUNS OF Palmyra, and 6e:ga'llng he downfall OF
States and Empires
will grant yuu. continued Mr. 3 that domestic ex
changes ar derl3ged present, mnch trrangrd, bat
not mich IN lc2G; and shy are they drranged
ron? because specie payments are suspended; "t sPe
Gle payments be resumed and d m"slc exchanges ~
stanlv regulate themselves and effect the reputation
upon tr pie aad eternal prime pie OF The expense Of
f:rgh. and IN the transportation OF metallic
money The freight and insurance Of SILVER, between
any Two extreme points IN the / , Is per cent aht
that the exchange silver between the eIte!'
tie. Of ,he Union. The exchang. gold is less Than
half what it silver the right o'ta s" much less;
and IN addition all Other Arguments in favor OF gold
currency that Vi beng tho 5e', regulator "' exchange,
81 tiose when presents !IsSs 10 Iit 'su VI every
pIlcai economist
Sir = would make fY observations upon Tins SUB.
ccl of domestic s1chaag"s /; was subject on whieh
every bod. had got talking wi:n:n t." yearspast,
and which was now I;,rI>, INTO egery argument upon
the question OF currency and finance. A! th's has
grown up since the Bank of The United States had un-
derraken L" 7egu'ae these exchanges More hhH bern
sad and written is suhlec since Mr. Bddte became
president ot the Aa,.ona. Eani lIan IN t"o hun1i,1
years hrl- more in fact haa Hga bsrn said upon 1t
since the " that JOHN Cabot fist came N sight 1t the
Moth American coast Aid "hy: !'rca"ss IN TIE admit
nisg!l0n al thI ba8G. immediately a!irr Mr. CheVrs
r,, a. cnur ncpd h. abuy. and f-TTerSnn o r b1sI.
ness ui exchange, "a.rh sr"n initiated by Focal
banks until II has row become means 81 exporting
u.Ury ifanscenG'ag all other means 81 eA"''i'n ana
brought to bear people o" wish 10 p'io" money
and not sell bills and MAN. Of whom never heard 81
h Of exchange uni! iEry learnt :bat II was The only
way IN WINCH money cou!G BE- g", out OF bank The
LrnisIauc at naiana has just made examinations upon
tins subject which shUw the natdre O: tie abuse; hut NE
practice Of IncUnsG9 ra5e III That State compared
t. ya, /, was 10 other ,lIcas TIE G"lnfns o. The De-
pos.l. Banks. end of lhs Bank of the United States,
show the extent of iIs. p:actcr and referring to the
N.
Gle prgucn;s and tn mass T.; urangs n trss "iIs,
and heir excessive Gsprc?oE"a to ordinary loans He-
comes rliyressTs!y sinking ! GndI NAME banH' an
interior one not IA great c!tJ nor even on great
river N which the purchase OF bills was $500 While
the in the Old way, on aoies, "ee but i'22 ana
II cru.si
fsl buchanan aud oae, g. naIors here asked for tue
OF the bank
MIR B. sild his obiec; 20 expose general prac-
tee and 40; rxiuii rarcua. distances but as the
name of this bark caiIrd !"r he "Ouc gave II with
the leave o the Young Sena.ct form ONO Nr ALLESI
wa- the bark the nj his les'dr nee. Ch'lc"ie
But uy 'neuo: partca!a! instances where the practice
IL general: The .'ulns Gf ne BANK OF the |. States
show that twenty Odd millions were "!t"n cGt ~ ZONES
TIC bills OF excl augr The ,s: returns "t the dfposite
LInx. before the, suspended s".:rd laI hey had Tor
iy.frur millions out IN that way; rGc {" them only had
,y.o'v ivO mi !lrs in these bills and lUGkng
III. column Of suspended Lcbls It IS seen that default IN
r,vment chiefly occuircG his description OF debts
Much of tbs Uhuse ot exchange. Much OF u IS 4
mere mod Of covering usuTiors loans. c, zen IS tore
cd 70 rvca biz when only wants n borrow; Il hs got
thu money ~ n loan lis note. ne would pay nothing
be-, interest, hut g"tIng II on BIZ h" has To Pay e1
change in addition, interest 7na then commission; be-
sides Whrrp the C.t;Zon obliged 10 have the money
the bank can pn the exchange at what pe;ses anc 50
practice ssspnon and uSny TO ans eXtnl That II Is vi"
linz This business an dhuse. h"gan Win lie EGnN
nc the l. ) under thu admins ration OF Mr.. Bidde 1t
asuue OF my original objections 10 thi, JnnS sbrnnch
es were c:Tinss practising tn abuse and lis own
friends were apne tnr trst that complained 10 ne
abpu. il In the reform nf the banking stem. o the
n.crssiy of which M :5lrC mind IS waking up
thu ab,s. of the business OF GG-sc rschlnr"s IS en-
il,rd TO the fist naicr II is vast system Of uSny,
c.,nr,i0n and oppression o' The community 'aHi per-
yer. on of he business 81 baHs Ghe sr's' OF enor'
minus and illicit -ans enabling lir.I? after dividing vast
,;,s m ,.;e =, ,hrt Pre- dents and Cashiers IN many
instances saarirS transcunGng those q "nr f'aHs OF
Deta!ruemls Wee President, and Ihiei JuSce OF Inc
SuiIeuIe Court of the tnrtrd States.
MIR e thrn udvereG TO the rain ot prices, which had
an in )
mites Of hc country rroP-Ety. produce iah"r-errry
lhi0g. acc0ring /" them, "ss no" without Pce. But
how in the fine times c' Mr. Adams a'ihnsua
ton /; Compare the prices o! the l"o ifTl"dS PORK,
then Il 9 per hundred in the Western country; wheat,
some 80 odd cents per hushel hou: 81 barrel: cot.
ton or . cents pound; md every ih'ng else ~ me
same proportion The people remember all ths ana
read with astonshrrnt the distress harangues when 90
forth from This floor Th-y know very well that a!
pGces are better even when reduced 10 NE sec'e
Standard than they in the time OF he National
B,ok and under the Federal Administration They Rave
memory and ran rsculsct zen or lively years back
Memory is The lowcst attribute Of the mind II brlongs
even to irrational ann.s-io cattle and yetihe Ftur'
20, rentlpurn do not srrn know that the people have
memory much less and Judgment; and here IA
The e,ih or the sor;une, .! ihe gentlemen Of The
F.d.-al party They believe they moEopoize all The
intelligence of the country; and ny consequence Ihat
tn. people know nothing. and MI nave To oeeTe ~!
they hear and thu reupnn. hey tell them most incredible
,h,3rs Nnw his belief oi a monopoly Of Nil The ntri-
urncp exant would lie very sweP! concert to indulge
IN privately q! even point Bacchana!Ian song, Or
grace a barbecue speech, 10 swell! the eSuation oi
tndnipl orgies but il is fatal 10 act upon II III 'hr ns
,c.s Of n,. The fa,e Of the panrc makers Of lc$3,
should warn them of that when every panic MAKING
candidate for the Presidency instead OF killing Jackson
and Van Buren,. killed himself oil The !lst 81 cand''
dates And when the tug ni var came, they were
Er,d IN No ma, the broken bank notes are IN the lfea.
sury-an unarai,at!c fund! So may It he again The
people lave memory and kaow!rd@e: and reason, and
Judgment, md il will not do for politicians 10 treat tem
Go rphl
gravel in place of bread The people know their own
condition. and they see through the conduct OF others
The farmers who selling teit produce 10 le26 Tor
the one third the half The three i"fhs OF what