Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-08-14

Decrease 0i2,3l9 SD, l309O1
These the reductions OF single year; since that
time six months have elapsed which, according TO the
ratio, will make the reduction al this lime Of lonns
and discounts, $ol ,OG341o; and circulation, sos,
l47 500.
submit it then to practical men-,o men Of business,
TO determine the paraly2ing influence which snch
immense curailment OF debt, and reduction OF circua
ting medium must necessarily have exered upon the
business and labor Of the country and what beneficial
effect has resulted from the financial policy of the
Administration With the utmost respect for the OPT.
Mons of the honorable gentleman from New York,
hum5ly think he is deceived, grossly deceived
The honorable gentleman from New York, in the
Of his remarks yesterday in vindicating the e
gaiy and policy Of the late Treasury Circular produced
by the RECESSION oil the circular Of July 1876 referred
thought in no very courteous terms to the currency
bill Of the second session OF last Congress- and The re
stricton which ii imposed upon The receip Of small
notes in payment Of public dues The denunciatons of
that BILL aud the blow which the gentleman indirectly
aimed a, s author, will strike with snnihiIating fore"
that gentleman himself, and many who occupy nearer
and dearer political relations 10 him. Gen Jackson
himself had recommended the identical policy Of that
bill, and in his annual message Of the Cd December
1885, thus spoke of il: " If by this policy ult
matey witness the suppression of all bank bills below
tioenty dollars il is apparent that gold and silver Will
take their place and become the principal circulating
medium in the common business Of the farmers and the
charcs Of the country. The attainment OF such result
will form an in tho history Of on, country, which viii
be dwet upon with delight b. every Jrsad of IT'S
LIBERTY and INDEPENDENCE. 1t will tighten III" great
lax which paper system has so long collected from
the earnings OF labor and do to 7trre and ppsiu
ate those habits of and SIMPLICITY which are
90 congenia the character Of republicans than all The
legislation which has yet been attempted THE Hon
Geo M Wolfe, collector of the port OF Phadel pa.
ardent Sub Treasury maa, and who would be re
ceiver and custodian OF The public revenues under The
provisions Of this b message 10 the Legislature Of
Pennsylvania, in 1884, while the Governor of that ate,
expressed himself thus:
ALLOW me also 10 suggest, for legislative considera-
ducnc an increased circulation Of the precious metals
mean the propriety Of extending The provisions of The
act Of Assembly, entitled An act concerning small
notes for the Psymen; OF money, passed he l'h Gay
all bank Of denomination less than ten d0'tarS,
by causing bank paper Of description under The sum
mentioned to be gradually ihdraton from circulation,
The introduction Of gold and silver coins in 81 ficien
quantities 10 supply the vacuum thus produced, would
Immediately follow, more stable, sound and peIna.
circulation in which the public would have conf
dence would be established orer.issnes would be pre-
vented the portaon Of gold and silver would, in
great measure, the working classes of the
Inunity would receive equivalent for their labor
which they could con6de. Wild and runous specula
ton woald receive wholesome check; and fluctuations
the value of property detrimental 10 the prosperity
Of the country, would be less frequent"
also refer extract from address Of the Repnb
lcnn members Of New York. their constituents after
the close of the LIST session of the 23d Congress- signed
among Others by the Hon. Silas Wright and N Tall
madge of the Senate, and the Hon. Chairman of the
WAYS and Means, containing svowal of these iden.
teal principles. 1t reads thus:
"If the people only true 10 themselves canno,
doubt, that the business Of the Treasury be convent
emily end safety managed, by TIE agency Of Stale banks
The restoration of gold COINS The specie circulation OF
the country which may be expected to follow, the
&C, recently passed. will not only strengthen those nst
tu(ons, but operate valuable limitation their issues
and if proper caution is only exercised by the State Go
vernments, in the incorporation and management, OF
banks and gradual but timely measures taken for the
adoption Of small notes, may confidently anticipate,
and that at no distant day, SAFER aud more USEFUL
currency than has ever yet been enjoyed by the people
of this country
S,LAs WRIcHr, c. G. CAuRnKLEsG,
P. TALLMAper, Wn TAYLOR,
AlTAH MANI, IT,, and others
In addition these evidences Of the favor with which
the principles of the "Currency blI regarded BY
the late Administration a~d most Of it's leading friends
might refer the reports of alr fancy, while Secre
tsry the Treasury and two of his speeches delivered
al public meetings in Maryland after his retirement;
the report Of the Committee Of Ways and Means, in 1894
at the head Of which the present Speaker of the
House of Representatives and TO The letter of the Pre-
aident Of the United States to the Hon SheIod Williams,