Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-10
REsu,ipTloN OF SPECIE PAYMENTS.

RESUMPTION OF SPECIE PS1NhNIS
The following recoleclions will be ot great Vninc 10
the public on Wednesday next when the Bank on.
venlion sits in New York on the question OF resumns
specie payments:
/. The New York city banks stopped first. and gave
their reasons for doing SO; the Chief one oil "hc was,
the demand Of specie for expectation.
g All the other banks in the country stopped cs last
as they could hear the New York stoppnges but every
one declared that it stopped only in consequence OF me
New York s,oppage; that il was able to go on ara "ouu
resume whenever the New York banks resumed.
8 Mr. Biddle, in public letter, declared, that II he
had consulted only his strength he would have gone
on paving without reserve that he only stopped because
the New York banks had done and that he would lake
the lead in resnmIng.
These are facts, with the truth Of which the whole
reading public are acquainted Now for few more
facts the truth Of which The public IRE also acquainted
with.
!. The New York city banks have been ready to re.
sumo since last fall and have done all in their power 10
get other banks to join them.
2 minority of the other banks have cvlnced dis
position unite with the New York banks in resumng,
according to their pledges 7ohen they stopptd
3 majority Of the banks refuse 10 resume with The
New York banks in violation Of their pledges '0hen they
stoppca o,,u
ing banks in uioiaiOn Of all Mr.. Bldde ptdgcs 10 ne
public and is VIGOROUSLY intriguing, seducng, and
n,midating other banks into his policy of indefinite
resumption.
Upon the view of these facts the public will see that
the banks are be divided into two classes, and that
while class is endeavoriDg act in good faith TO-
wards the public, and TO comply with their pledges The
other class classifying their pledges, and nventng
prelexs to their misconduct At the head OF
this latter class is Bidde and the Federal politicians,
(who his debtors and attorneys,) and other banks
who are subjected 10 his policy
There is every expectation that the ~ York city banks,
and those wishing 10 act with them, will he oVerpoweIco
in the Bank Convention, the banks under The nfiu-
ence of Mr.. Bidde will keep away. Bnt the public has
their pledge that they will resume, at all events by the
10Th Of May; and in doing, they will draw line be-
tween the good and the bad institutions which will i'm.
medatcy bring public indignation upon the latter, and
conciate for the former all the indulgence and support
which ii is possible 10 extend 10 them.
To defeat the resumption is the design OF BiddIe and
he has plans in view 10 accomplish il one, and that
il his first choice 10 vote it down in the Bank ConVeH.
on the other is to defeat the Convention, by prevent
ing as many banks as possible from attending. This
latter plan would be further breach Of his pledge last
fall; but what does he for that? He who Yields
$50 millions of dollars and has longer catalogue of ora
tors on his roll than Philip of Alacedon had in
Greece
Mr. Biddle' bank is now avowedly English bank:
His own friends admit the English the largest halt
Of The stock
Let the public look on! for trick in Bidde-t0t
of preventing the attendance Of all the banks that he can
influence. saturdays Globe.