Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-03-12


limited To this death hkr struggle. IN which 30 n'en,
mus, fall aud he crushed that might otherwise wealth
81 the storm. The forced resumption, for such II
"ul bo IN effect would be followed by whr-
spread desnlation Il is EASY 10 sink 10 suspension
nut hard Ia return 10 resumption. Under ihn mosl
iNotable circumstances, aud when conducted most
ie'sotfly and cautiously, the pressure must be Sc
'r'e hui, u eocfeed ~ pieeipitatcd by bankrupt
AVS 81 temptations such IS thiS II viii lie tninous
To make II sale aud be the work OF tnie
horelnInent can do bnt little, The disease orii,-
ntes ia rNcrssVr Indebtedness. aud the only iemcd,
Is payment or icdnction of debts. 1t - estimated
maj when the hauhs suspended payments. the com-
muntiy was indebted to tbcm the enormous snm oil
Si75t 00, 900. To reduce this within thr proper
hunts, Is nor the work Of few DAYS aud can be but
htile aided by us, The industry, aud The 'ast re
sources, Of the country, with Time, the only
ees ~ be relied ON tof the reduction aud to these
WITH the Slate Legislatures and ihr public o1lnion
the resumption must lc left To understand thu
subject fully, We must look ulo more lato the
real cause of the difficulty
This enormous debt was it CURED IN prosperous
times. The abundant means of the banks, from the
surplus revenue, aud combination OF Other causes
induced thcm to discount freely, THIS increased
the cncuat,on aod with II. increase. It's ,alnr To
rrrcmtrd and prices rose prnpotonahly With
this enterprise and sp,, naiion seized The whole
community, aud every one expected 10 make Tor
tune Al ohce ; mud tins IN Turn gave new iapulse
Ia discounts and eift nlnlon, MI The swelling tide
busted IL huflcs aud dcluf,d the land. Then he
ean The opposite plOtrss 81 absorbing the fNresss
II had becu po,sih Ia tclun Il back 10 the banks,
the sources from "htchlt lowed, lhtongh - debt
ans, the Specializing, enlel nsnc, and business ral
tion oi the community. the mischief would hhYe
brcn, IN gtcM measure. avoided, But circulation
had flowed of lu1o other reservoirs; those al liz
money rd mon aud bankers, who hoard when Specie
are In h, aud buy wien they arr low. The PARTON
thus drawn olfmd held III deposte, cahcr IN bnI Or
tie chcsts of,ndWilnls, cfrclullly lost, IL
a. the debtors ol the banks concerned, IT II
had been bulni. The mtans Of payment Wrle thus
diminished; mioe>tll IN pfnnofnuu, anl the pes
81 a Increased as th,s tell. Though thr amount
IN ctrc, On be greatly reduced, Vet the hanl,,
afall to dnco.pt lest, on resumption, the hoalded
mus. Of d,posilcs ht ~ individuals, OF othc bauks,
should be LEI laosr and In a'ton 10 Whit miRht b.
put INTO circulation should diar2H"'s be ma"r' ""nll
eaus@ another luundauop. 10 b. oo - ~ ah"''iei
SUSPENSION, How Is tbs diff, uliy - be ad'eis 'u'
mounted, but by unlocking HE boarded IN, =" :
Aud how Is tin, to br done, without deeidi1S the
currency question, This thc flst aud utct @sat}
step. That donr al will be abb 10 calculate aud
determine what To do lhr pcnod of maeton aud
uuceUaotN would ccasc, aud that ii business fe-
we. Funds lh,l are now lacked up would be
Elunaht agam 10 operation. aud the channels oi
hefcpirui,hrd IN the ons node thai Cln
be duuc with s.dclS, Thus thinking, | an NOW and
I'VE been from The st IN lasof OF an eHly decision,
md WcI,r 10 all corrcon, OF holding ont itinp"I on
~ ,b - r,,la ,1nnr1i,,, :.
5I L. ,h. .,,,.,,,#f,.,. hill II IN he ni,,y l.e
10 cease ulsL ouuug, aud 10 alopt an Indscrmnnate
system oi cutallmeut. l}s eeels are luminous 10 TIC
- ,l ,,,,,,,, ,I ,,Ic,l,,c1 :, ,st,td
,'i,'. ,,,, J., ,,.crl,,,.,,o, ,..an,nI,on rle ,,nr
- lt ., ,,,,,l,l# he =, Il. count v,rh h,.
= ,,,., - i.c..I . .s ,,.,l and cu,t,,l cfa,,,,l.
~ on psrnlaneut debts. 1ht iorner would revive
bus s., AID would mere Sc tht debIs to t., banks
less than Il would n,tsa.et the abluyot die coaonn-
~, =, 49,, ,l.,u
ia, "a, ,,,, shawn L,y IN. lrt.rr or conhiIa-
, ~, t,,,,ol ,nd ,,.,,y,J o,il IN,
I1,,,,1,. -, rho way II -cn,aias 10 determine villa,
IN l ia. Inn. md ,iu,. al HE rou.hnn
.l, C,.l If#uYIl runst,, Of Sat, banks
,i,.. ,l,,.,, ,,ic,, Il p,,,.,s th.t nl d,,counInp
an u y,,inn, ha,,, II, lhr slightest ,lrrlec fnj.,rf-
nJ 10 ,hrxr IN, ,ub tnuic plopo.e, 10 add m
nn,,,nt ,du1ou,. ia receive tltir ntes as gold aud
y, -, ria, 6bl, ,lu,, and 10 rive rl,ru the NE
~, ,l,. ,,lI ,I,.,s,tes and to o,g,rIle an blend
H. LI .,,, ,,,,c a., ~, IL, Il ,r,u, -, lh, Coy, m.
,,,.,, =, ~, ,l,rc, n,d,, the i,nmcd,ns ,une,,,-
,d enn,'ol ol ria. Serfet,ry Of the Treasury
NJ. ~, H.. al lin. ,,notni ia , Snail / nnpr
,L.#no1 la. mai startled. \ HANk-, Govern.
mon, L,l tin, mast ex,,u,iyr uo.r,tul and dan
,,,ta,,s III e,e,.x4led I'in,.ub,llluir would b.
t,. A., al ,,ro,no,,iion aud the pfnilrucs II con.
I ,,ch 49,, I,,,,,,,s1 L.nkl,p , ,nt,al' Increasing
,,.,,,..l, 10 ,,,u,,s and r,ylnr !, an ubtilulled
,,I ,i,.. b,,sln,s. and - hllat IS OF the ,ou-
,,.
',rl e..,,. ,-,, !, ,,,ni, (Nir RUc.l WIS r eht
- -, mn, - tI,, ,bi, new m n Of The rxpeIlnirut
,,lI Ia, -, adj, under yrt, daitlrn. circumstances
lro,n in, first and Would have Il t,r,nt iernina-
,,, s,h,. ,nn #lL,.tb,. w4a , bauo-a Cavern.
,,,., l,,l ~ s,,,.,n.he, from tie lac bank TO
,brl ~, ~, =, a ,t,a1 and was Al tl,e time
,.,,,,.tI, -, J..,nu,reI,u,lsbus Eut4hr rirc,lm-
49,, an. inbred diff. lent-.rfy tIiii,aeln aud
,oull H.. thr ,,,,,lt of t,. cNuetI,nrn Tins bank
v,J mai la. ,hr Sam, ,lr,ly rourorn i, thc former.
M, ,,I ~ .,.,,,by ,,d ib,s vool1 in ,IpSputi,in