Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-03
l;ic!,nnond, TUESDAY, April g.


Tile Bank COnrentiOu-Spccie resumption. ,
RI. Presidents of the Bank of Virginia, and Inc
Farmers Bank of Virginia, will attend Tie Convention
of New York on the lth instant-We nave n" ucuo''
that there will be general attendance from
There is every reason believe, that tie Convention
w fix upon some certain day for resumption -ferGaPS'
il will no, be as early the Banks ct the my OF ~
York have specified possibly ii may be some moh'ns
laer-but scarcely entertain dou"! tnnt lhty WI,
fy on some certain day The precise period may depend
unon variety Of crcumsances-n"t the least OF wh'cn
will be the desire extend The circle of operations ana
embrace rs many of the Banks as possible III Tie ar
raugement r., =, .o,
bo,h ousrs Yesterday extends the day of grace to the
LIST of April l539 though they are t" make no diVuehus
after January . r.,
Th- Senate of Maryland have amended her Currency
Bl so as 10 exact Of each Bunk and Savings lnsutu'
,ion +, "resune the payment of their issues in coin
within thirty days alter such course snaii nave oeeh
odoord bv The hanks of New York and Virginia
The Act Of the New Jersey Legislature nSiructs the
Governor Of the State $50 issue his proclamation calling
m IN. tanks of New Jersey resume Immediately az
Ter those of New York and Phade hia As II is now un.
derslnud that New York Banks are TO resume IN May
whether the Philadr pha Banks it'll their great regu-
l,,or" resume nr not the Newark Eagle recommends,
that the Newark Banks at least, follow New York
The Senate OF Pennsy lvania have amended her bill so
as to declare to be he duty "l oil The bnnhs lnroFpo
rated by this Stale redeem in gold silver coins OF
the United States oil their notes bills and obligations,
payable or originally made payable on demand, within
thirty days after The Congress o The United States shall
provide by law for the rccept and payment OF debts due
The United States 10 the noles OF specie paying banks
or within thirty days after, three JOurhS IN number and
cnptaL Of he E0nks in the city IF Neo York, ard boston
and BnHimorc shall redeem their notes IN specie But
this bill has not yet passed ~ .
co.opcrailon with the other Banks, 1t must be either
that his Institution loo weak to resume or that il is
ac,uaed by sinister motive in huidng oil Isl
as the Albany Argus says the sole obstacle TO general
iI If he
yet il has been cried up the great regulator OF the
CURRENCY" and sill more, Mr. Bidde declared in May
last, that it only IN compliment to lie situation Of
the other Banks, that II agreed 10 suspend specie pay
mtu,s There is little mystery in his present move
mrn,s The accnum, extracted in our last from the
\ Y Herald Of his answer TO thr n. Y Committee, has
been contrut,c,rd by the journal Of Commerce. The
journal says That hc story Is wholly without iounda'
ton and that communication las been received from
the Philadelphia Banks their formal answer 10 the
Committee which made some weeks ago"
The Herald of Saturday last continues 10 speculate
upon the prospects Of the commercial world 1t states,
that The approaching Bank Convention, which opens
on the llh OF April, and the sub rc Of naming day
for the resumption Of specie payments by that body, are
the leading topics Of Wall street. notwithstanding the
Efforts of several interests particularly the dry goods
line and the Board of Trade, have every reason 10
believe that the policy OF banks 10 cur,a and TO
sume will not be changed under any circumstances -
During the last ten day or more great effort has been
made beth here and in Philadelphia To induce or niu
efforts Ina We been unavang The curlaIlnent mecca
sary in their estimate for successful resumption has
Continued, aud is now given out that MIR Bdde and
the Phadrlpia Banks will be ready, at the Bank Con.
yrnuu 10 change their policy, and 10 maine day IN
conjunction with US. This belief has gained strength
from the fact tina! funds On Philadelphia are beginning
To b. more inquired after here, and that the return OF
The exchange 10 par has begun.
ST is generally believed also IN some quarters, mat
tho Philadelphia banks have, during the present week,
commenced the preliminary curaIllnent, and That, IN
few days, we may eXpcctio see similar pocy adopcu
! on the part Of The Baltimore Banks. This opinion is
fortified Lv various facts and cOnlempoaneouS events
I'm The Legislature Of Mar and, and again IN that OF
Pennsylvania. bills have been introduced providing tor
the resumption of the Banks OF each Of those States, IN
the contingency of resumption "f those IN New York,
| probably including the Boston. This system Is most
| broadly developed in Pennsylvania.
"Ano,hrr circumstance also tends 10 confirm the be-
ec that MIR BiddIe under The action OF The Bank Con-
v,non mag change his policy, and take 10 himself, II
he can the whole credit Of general resumption IL IS
said that bonds, payable year hence have made
their appearance in market II this be so. such nea'
sure has been adopted, not 10 Impede general rrsunp-
ton for that is not his intent but 10 furnish him with
mart of The means necessary into successful
operation. Mr. Bade is also aware OF the great blow
which his credit would receive in Europe were he to
permit The packet to carry out the intelligence mat
the Boston and New York Banks had resumed, but he
! had mo-, Such a lapse in commercial integrity would
alt ct only tie credit r his Bank and 81 the Banks
Of Baltimore and Philadelphia, but IT would depreciale
the value of the State stocks both oil Maryland and Penn
| sylyana in the London market In Europe, little or
distinction IS mace between Inc circuit OF Stle anu
! the credit Of lis Banks.
Frnm oil these considerations The impression Is gain.
inn ground, that Mr.. Bddle and the several teams he
dives so neatly in Baltimore and Phlade pha will in the
aupoach;np Convention. agree, with the Boston and
York Banks 10 a day for the general resumption
Now as our banks cannot by law delay longer than the
10th OF May, il is probable tina, they may all resume be-
! fore The first nf June al least the LIST July.
n the recent preparations made Tor resumption, Nv
the Boston banks we have several banks shut up
under this operation. This process IL still going OIL
Yesterday in Wall street. intelligence received from
| Boston of the failure Of three banks in Vermont fol
! lows
| Banks of Newbury, located at Wells River
" Orange, CheIsea
Windsor, Windsor.
The agents in Boston for Of these banks had failed
and the Suffolk Bank Immediately struck them of the
! list"
! Should The Bank Convention adopt more distant day
than the 10Th May the Banks of N. York will have TO
| ask for an extension from the Legislature.
The investr cation into the PhGnx Bank is going on
resolution passed the Assembly the Both ult, "6G
to a. appointing committee of 5, to whom refer
red the le stmony in the of The PhGnx Bank. The
committee were instructed 10 bring in bill TO repeal The
| charter"
The SUB. Treasury Bill
The subject has not been recently ngtated in the II
Of Representatives but all the accounts that We have
received agree in this, that neither the Senate nor the
House Bill can pass the House. The statements i'll the
other papers concur in this conclusion. The Philade
pha Sentinel says that the general IMPRESSION as de
rived from letters from members of Congress and others
at Washington, seems TO US TO be- mar Inc Suo fr@su
70 bill which passed tho Senate, will never be called up
auan aud that the bill reported by MIR. Cambreeng IN
the House Of Representatives. cannot pass that body
We trust that The decision will be made promptly in
| der that the people. well as the banks may know
| what TO depend on.
| The CORRESPONDENT of the Baltimore Patriot states