Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-17

~ II
4. LEGISLATURE BY letter addressed by unauthorized
i,,tnals to Mr. Bddle his express dc,ation, from
u. ,s.rsses Of the marble palace in Chesnut street
g,r The people Of Pennsylvania not TO be thus
,cawnksd and October, 1886, they decided against
hank lis president, and his obseGuious agents. by
Hysrwhelmrc majority The same decision was repeat.
in October 1851 and the last blow is TO be struck in
HGctcbsr, lc$o
4 "This bank failed in May, 1887, having the first
Nav 1897 discount line of SOL, 5o2,952 46
n own notes in actual circulation, 7lg302l o.
n fs post notes, 4446 $40 co
4 /. Bonds in Europe, 4,3lS,l49 &c
Ian in Europe, 6,7SS, l94 "A
And DspOsiles, 2,S46, 933 "a
Making total oc liabilities of So, 592 G97 80
Waist lis specie to raCel them was sos 03
Making an excess Of liabilities Of S24 l0l ,129 81
sarh they had no means Of meeting.
The wer proceeds 10 show the condition Of the bank
n tie lsl Of June-ls las, expose that has been pub
B .il. is The following
Al the lime Of the Governors Message in December
49, er all lis efforts 10 accumulate specie BY purchase,
J. tearg in stocks, cotton, and usury, il stood thus:
Z Niss in actual circulation, So IaS.H3 w
Il ", notes. 1919 Gl3 90
+ 3arts in Europe, G12S,lo9 10
q l,,ns in Europe, 79S.Gll i
II Ponds 20 the United States, 3,.39IG1 IL
4Dsro,j,cs 2Sl7 5i2 10
Il !a.sace due Stale Banks, I.Gll,743 "a
Making total os liabilities Of $50 Ci3,35 90
RIVALS! lis specie 10 meet them was, 3 34y $50 50
81" is clear then ba, this bank insolvent in May,
ISL continued in December 1857, and is actually
Keller off now and that it is therefore true that il is the
cay obstacle to the immediate resumption Of specie pay
nenis So certain is MIR. Bidde Of this fact that he
has issued new manifesto to show the absolute
cf npd md nj iyrpHp 70
Il paper currency-and cites monarchy (Englend) as
example for free republic which has neither nobles
titles, privileged orders, princes nor kings,
The writer then contends, that 10 assmilae our con-
ton TO lha. Of England, with her than 20 years
suspension, Mr. Bidtlc has three projects in view-l To
increase his capital 10 so millions; = To allow all the
tanks to issue notes under So; 3. TO have the suspen-
son permanently sanctioned by aw-But the writer de.
ares that the Democracy Of the Keystone State will
sever subscribe TO such conditions.
The Globe has lashed MIR. Biddles Letter in series
Of Os and severe strctures.We confne ourselves for
e present. to its comments the following passage Of
! he Letter:
III was in this spirit says be- "lha the Bank of the
has not diminished ten per cent of lis loans while
added about three millions its specie and will have
Ten The necessary facilities for shipping the crops of
5s South and West, lily buying them with deprecated
tank notes 10 the amour. probably Of fifteen or twenty
millions Of dollars; placing its confidential agent in
England TO PROTECT THE GREAT CONNER
GAL AND PECUNlARY INTERESTS OF THE
COUNTRY. THIS seemed to be its proper function. II
ras tins thot ih"ped TO discharge It's DUTY TO THE
WHOLE UNION."l
ii, is the President Of mere State corpor7 ton which
does and says this State bank assumes the right and
power protect great eommcreiut interests Of the
y in foreign lands it sends out its Minister Plenipo
tertiary, with salary Of twenty five thousand dollars
ytar wh his secretary and clerks to perform this duy
10 The utotc CnOn and this, ore told is It's "FRO
PER FUNCTlON!
Yes, it is a mere State Bank, which assumes these
high powers-a bank which derives all its legitimate
authority from the Legislature Of Pennsy lvana-a bank
established for the purpose Of granting accommodations
10 the people Of that Stale This State Institution not
ony assumes 10 turn merchant, and buy up The crops
c! The South and West while il itself partially bank.
iup and TO impose on all the States for indefinite
PERIOD, an nreCeema5Ie paper currency; but IT usurPs
also power vested by the Constitution in the General
Governments the power "to protect the commercial and
ftuaay interests Of the country in foreign lands! AT
hrs rate, how long will il be before Nicholas Biddle
gns sole monarch Of The United and consolidated Staes
But New York. il seems is little refractory There
y hoassy in the managers Of her banks due sense of
their obligations, legal and moral, and proper view as
% The sphere Of action which belongs 10 them. They
10 mol claim to govern the ,choc Cnson, nor TO protect
s commercial and pccuniary interests Of me country
IN foreign lands They look upon it as their especial
culy 10 be ready to the payment Of their dsJs as
soon as they can and 10 soon as they are rea
cy, believing that all other questions connected with the
subject belong 10 the legitimate authorities of the
Wy, ana not 10 Inc DaDKS Having tired all other ex.
pedlents TO induce them join him his career of law
Fss usurpation, Mr. Bidde signifies 10 them that
they are 10 expect ne countenance from him, and at
snp's 10 put himself at the head Of league Of banks
10 make war upon them
Such, Citizens Of Virginia. is the character of the In
stulIon, to which the Wings party, are attached
you lend helping hand to its national recognition?
VIII you vote for these who would vote for ii We
call upon the Republican Party to go forth in all their
strength 10 waive any minor difference OF opinions and
10 unite upon those who are friends of the Adminisra
lion, and the opponents Of National Bank. That 10
The true issue before u.s. That the true issue, when
e canvass was opened presents itself in still stronger
''rec,s before us now, that Mr. Biddes Bank is, at
mpMng 10 rule the circulating medium and business OF
'e whole Country hen it not only declines resumP
on 81 specie payments but is resisting those who are
usPosea 10 'esune-when it not only refuses 10 comply
ing 70 prevent other Banks from complying with their
own honest engagements Meet the issue then at once
Turn out to the polls
TIa NJ y naas-Resuap,on Of Specie Payments
Inc I'VE" oTR papers full of rumors and specula-
tons about the Bank Conven,io Tho 6,st article we
publish 10 from The n. y Journal Of Commerce:
(Fron The " L Journal of Commerce
BANK CONVENTION.
o'clock, at the City Hall, according to adjournment
They sit with closed doors; constantly we can only
report the formal proceedings without the discussions
The Hon. Samuel Hubbard of Boston, the same nenIe
man who occupied the chair al the former nee,ng pre
SIDES on the present occasion. One hundred and fov
nree delegates were present, from eighteen different
States, viz
Maine Penn.u,vsn;, o
Vermont q M,ni.d =
INo,r ;nfo IF