Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-08-17

| The French Government, sensihly alive how much
the promotion Ct her domestic industry and foreign com
mcrcc necessary 10 The extension of her wealth and
the consolidation Of her power determined 10 foster this
commercial medium, and give TO il all the efficacy in
lis power. Accordingly, in The Havre Journal we find
the following order addressed by the Minister OF Finance
to the collector Of the customs a! Havrc-Ihe Minister
! says:
'My views are, that banks, legally constituted should
receive all those deveapemeDts and en- 10y that success
which shall enable them afford TO commerce ana in
dusry The advantages contemplated by their institution
The public officers far depends them, will crn
cur in promoting this end. The inspectors OF 'hs RI
nances authorised 10 reckon specie bank noles
which shall be presented. properly authenticated will
instruct those officers who have any doubt to The cor
RICHNESS OF receiving bank notes"
! Thus treating the medium which our Government
seek reject specie regarding il equivalent II
is known fact that The production Of British Industry
and the of British commerce, far beyond
those Of France. The specie circulation OF q Br tain
is about O000O 00 while that of France is about
S3SO uO0Uu0. The Bank capital of Great Britain Is
about SlGO 900, while that of France, is but about
Si00C0,0G0 How is it that the specie circulation u"
France has not produced such magical effects upon her
industry md presented by lis advocates
! il will produce here,
But most extraordinary fact is that while the French
Government which has had full experience OF The ad
van,agcs Of purely metallic currency, has lately de-
leImincd 10 enlarge the circulation Of her paper me dutn
md doing rapidly she can, Is seeking 10
]
Sir, the French banking system is safe and sound. as
much ms could be; the on objection 10 Is, that
ills circulation is not propnrtipned 10 her means OF com
mcrce. Now, MIR. Chairman, with bold defiance,
challenge the designation Of any nation earth, where
the circulating medium is purely metallic, or here there
is convertible paper medium which, in reference TO
the liberty ut The people, the safety OF property The per-
mancncy Of Government general intelligence, and rS
lent OF commerce. foreign and d"mcstic Is comparable
10 Great Britain, France and The United Stncs In most
others there independent governments and treasures
sustained by oppressive taxaton upon labor but poor
mental and degraded people who hold life, liberty and
property at the pleasure OF their ordly iyrants Why
has not this pure and equal system according 10 the gen.
teman from South Carolina, shed some Of lis tengnant
influences, and magnificent blessings upon the people
where it prevails answer because il has few 10 shed
ask the American people, where is the nation Garth
with which they would exchange conditions nolwith-
standing they scourged with such cnrupng.
equal, serve sysrem their credit syscm is represented
TO be? Nome, Sir-None whatever
The honorable cen;,-a..n from South Carolina (Mr.
Pckcns in the opening of his remarks said that there
near thousand banks making upon the Go.
vernmcnt. How nre they making war; When, have
they made upon the Government In what does
this consist When and in wha, form, has The al
tack been made? These institutions now lie PROSTATE
and bleed at every pore-rey utterly powcr!ess and
dcfencecss, and only begging the fohesance ofthe
Government, and their very groans converted into
war whoops They have sent neither me mortal petit
lion here-lhey have not nterfered with the politics Of
the country-they have done nothing more than adopt
those prudent and precautionary measures, which were
necessary to their defence and which due regard
To their condition and that Of the country required
this sa The war which they have woged has been very
much of the character Of that which The lamb waced
against the wolf ,chen drank in the bronx beon and mud
ded he stream cbOee for which devonred. have
heard of single Of hostility the part of the
banks unless it he desire 10 escape the ruinous effects
which the adoption Of the Sub Treasury scheme would
exert upon their operations by keeping up, it would
perpetual drain Of their specie, and compelling them
10 heavy cuailment Of their circulation and discounts
among the people IF this he war it is necessary and
proper war, well justified by the condition of the
country, and the necessities Of commerce. If an al.
tempt in self defence, to avert impending danger and
ruin be then these banks have waged upon the
Government, otherwise not Sir, if the honorable gen.