Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-01
Whig administration,
ID Erxy.,, w n Al.
MR. BIDDLE-and his Souires

The Editors of the n. Inlegencer threaten us. if We
do structures the misconduct of "that
corrupt and ambitious corporation, yclept the Pennsyi
yania Bank Of the u States, that they Che aforesaid
Edtos will be obliged to deny (thenselres) the graft.
fcalon of perusing (our) edifying editorials We duly
deprecae the punishment which they denounce against
US; but at the hazard of SO tremendous penalty, We
must continue do our duty The subject is doubt
very sore one 10 them; as, even some of the Wing
Washington Correspondents are beginning to complain
Of the tax, which the Bank is imposing the charity
Of its friends The sins of that sinister Institution
indeed sufficient "to sink navy.
With what ssace MIR. Clay, OF :hc r. iniellgen
GER s.y vi friends complain TINT lis opponents
are only attacking State Bank which sis responsible
only 10 the laws of the State in which it exists The
Bank first commits direct fraud upon the country; and
then claims impunilv for the fraud ltrealns the name
of the Bank Of TIE U. States-lhe same amount OF ca.
pita-the same President and Banking House-an or.
eauization in all respects, far it resume tilt
commits gross fraud upon the country, by throwing out
all the old notes, which il circulate 10 the amount OF
more than millions, when it has less than one million
OF its in clrcuaton--hese notes are not It's own
for as Trustee it lis duty TO cancel them-lt has re-
issued the dollar notes, when It's present charter a6so-
lulev interdcis its issue OF any note under SiD- has
forfeited lis State charter and when the indignant Re
pubcans shall recover their due majority IN the Legs
ature they will bring that question TO ssu- 1T is esla.
bl!shing agencies several States aSd would establish
all lis old Offices if il dared 10 do II is attempting
10 operate upon the circulating medium OF the whole
commercial community; and not only refuses to resume
specie payments, but is attempting to prevent all the
other banks from faithful compliance with their own
honest engagements; and yet IL claims immunity holn
the lust censure Of indignant community by taking
refuge under its fraudulent cover of State charter-l
any bank in Frgnia TO practice such fraud Upon
the country, would claim no exemption from It's be-
ing State instituon-but we would be the first TO IN
wife the n Inlegencer 10 expose its corrupons as we
intend to pose those of lis avorle u States bank
Not even the threats Of its Editors shall US into ST.
lence.
Thanks 10 the Harrisburg Reporter, it is doing its du
ty at this important crisis Of monetary affairs II Is
stripping and umasking "Mr. Nonlesump,on Biddle,"
We extract from il the following very interesting stale
ments which the world will read though the Ed
tors of The ~ Integencer should be TO deny It.
SELF the qualification of pernsing edifyIng editorials
The abuses Of the Bank mutifarous, that no
structures upon Gun become "s.ae, unmeanins,
or improbable:
sin our last we displayed the entire unsoundness Of
the Bank Of the United States, and we shall add lew
more facts show The true reasons OF that Instltn
ton for declaring that it will not resume The month
" return made at the commencement OF this month
(ApriD exhibits this state of its affairs. 1t held OF
no,es Of other banks 81 495, 262-and there due
from State banks So $50 500, making aggregate OF
1874 S3l-whilst II owed TO the State banks So oo3
$40 making clear balance against it, and in favor OF
the State banks Of 50 C69.OS which, in specie paying
times could be drawn for at in specie; but which, it
due to city and county banks, only per cent would
be paid upon it during the continuance OF he snsPeh
sion Now, "Wednesday last, (the 10Th OF AprD the
bank Of the United States indebted TO Inc banks oil
the CITY and county of Philadelphia u S5,95G o00,
which shows that nearly the whole amount due TO Stale
banks was due TO those in its immediate vicinity, and
that the 1884 Sl due 10 il must have been IRON BANKS
at distance and certainly in States South OF The pre-
sent line of resumption
ave shall not now speak Of any other debs due oy
the bank but those which certainly immediate, and
can be called for at any moment In this list we rank
the net, circulation of notes payable on de.
mand, Su4Uo'4So
Deposes, 3'ooo'oas
Due city and county banks, 5,9oG,8OO
MAKING an aggregate of Sl6,226.79S
Now 10 meet this large amount the bank, has only
1908 1916 72 Of specie, the whole OF which must be
swallowed up by the payment OF The balances due 'he
banks in the five mile circle around it. leaving balance
due them alone Of 50 0e 9GS p, which 1t has no means
Of paying.
attitude Of non.resumption, BECAUSE It IS IN the
power of the minor banks surrounding It, whch nave
been managed with much more care and pluoencei =,
"There are however, other reasons operating WIN .he
REGULATOR which are moi obvious II appears iha .ne
Bank did not pay the last September bond OF 81 9oooo9
Oh due the IT, S. out of its funds, but that II DOR
rowed from the Executive Bank near S4ooooU, anu
very handsome from the Northwestern oahs y.
Virginia being part of the surplus fund trans'e1eu
the State by the General Government. line pans
says the Richmond Enquirer, applied these atas w.
wards the yment of its October instruments due 10 Tue
u s., and believe Mr.. Biddle is pledged 70 rspey ~
specie. 1T WILL BE CALLED ON As SooN A0
HE RESUMES SPECIE PAYMENTS
"Here then is another reason for non.resumPuon, De-
this specie debt TO the Banks OF virginia. ana Tue
specie debt due The city and county Banks would lake