The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-06-07

.ouesti0h Vas then taken, and the res0lu
tisn passed-yeas "a, nsys9. The nayi
were. Messrs. AIIen. Benton. Brown
c.lhoun, IIubbsrd. Morris. Niles. Smisi
Osccsaseiieui. and Strange.
On lhe 30lh. in The House Of Repre-
sentalives. The rules we're suspended. BY
= yole Of lI2 70 80. Cor the purpose Ol
fixing up lie joint resolution from the
Seaaie respecting the, Specie Circular.
Tie resolution having been read. Mr.
Boon moved the previous question.
which MAS seconded. AMI Tie main qucs.
ton being put. fne resolution was order
ea 10 4 lliri reading by vote Of ISL 10
-. The resolution was then read =
lhid time AMI Passed-yeas Isl. nays
%.
The Eesolalirn hating passed with such
c. ler.ly through The House Of Reprcssn-
Ia,iEes, and viii sscli large majOriiies in
both Houses. !, was Immediately signed
hy DE President.
TN the Ist instant, circulI was is
suel fran the Treasury Department. ad-
dressed 10 tie Collectors AM Receivers
O! patli. m,aay. founded upon this reso-
luim. which inslrucis these officers 10
reeriys the notes Of banks in all branch
Is Of tic plb'ie revenue, under The fol-
loving restrictions:
1. None are To be received bui snch As
are /. psyahle and paid nm drmand. in the
legal currency of the United States"
>. No notes TO he received IL q less
d DENOMINATION that twenty dollars.
3. M mates 10 be received Of any DEM
minalion. nn'ess " payable, on demand.
in gold or silver coin. at the place lrhsTt
i,sasi." and equivalent 10 specie where
received"
4. No uoles 10 br received OF any bank
Which. .inre the 4lh ol July. 1896. has
issued I" any note or bll! ri less demo
mina.inn Than i've dollars"
The passage Of this resolution appears
"a give general satisfaction every where.
Even the Richmond Enquirer, the lea.
ding Van Buren, paper in Virginia. says.
the doing away with The specie cireular
viii facilitate The return Of The western
banks TO specie payments and ,hs Ma
disonian says, "one oflhe consequen-
rrs Of the rescission Of The specie circu.
lar will be. a general and early resump
ton uf specie paymeals by the banks Of
tie middle aud western states" The N.
York correspondence Of the National
Ialelhgencer says, new life had been in.
fused inIo the money market; heavy bu.
siness Ind been done in The stock ex-
change. and prices we're improving
United States Bank up To ll9. The
writer farther says, ali one such stride
on the back tract can do 60 much good,
how much good might be done by leap
back To 1879, when general Jackson began
to make the foo, steps"
The following letter from Mr.. BiddIe
10 Mr.. Adams shows how promptly the
banks avail themselves Of The first mo-
ment which indicates favorable charge
in The disposition Of the Government to-
wards them.
Philadelphia, May 81. 1883
NY Dear Sir--In my letter of the 9Th
ult stated my belief that there could be
no STE nor permanent resumption of sPe.
Gle payments by tic Banks. until the po-
Icy Of the Government towards them
was changed.
The repeal OF the SPerie Circular by
Congress mikes that change. | see now,
wha, until now | have no, seen, the means
OF restoring the currency.
| rejoice very sincerely at the termi-
ndlon Of this unhappy controversy, and
shall cordially cooperate with the Co
'ernmcnt by promoting what the Banks
are. | am sure, anxious to effect, an early
resumption If specie payments through
out the Union.
With great respect, yours,