Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-06-05

own Banks can now begin 10 let out with freedom and
thus enlarge the currency in the contraction of which,
enterprise has almost been aanhila,ed. We have but
little Doubt as we have before announced that ,csump-
ton by the Pennsy vana United States Bank will bring
along in its company about all of the Western States,
and nearly all The Southern ard Southwestern"
lhe N I. Times confirms this statement-ond states,
mat new confidence and spirit have awakened among
all business men. The doings al the stock Exchange
denote it, The movements Of men and things in Wall
street. Pear street. and all of business avenues de-
note IT. and men countenances denote it,
"lhe trading and commercial classes
vlnced that the tide in our currency Matters that has
been SO long setting against us begun 10 turn in our
faVor and If the "cuIrency thinkers" continue in their
present position and unable 10 raise force enough
sustain The golden dam they have raised Tor 10 build
new one with iron doors and gales) we shall soon float
upon the broad ocean of successful business and solid
prosperityUnted States Bank bills have improved at
least one per cent since yesterday Sales made
IN wall street at one per cent discount this morning
Nor are these halcyon signs confined to the North
happy change is coming the spirit Of our Dreams.
The counters Of our Banks beginning TO glitter
again with the precious metals We understand, that
they will not now hesitate to accommodate the
fuoic mStanter, by paying out small change. They
will part with few thousand dollars in that way; but
that will be Of sort Of consequence TO the Banks
The stream that will flow back into the Bank will
supply the little r that will flow out-We hope for
our town. at least that the day of shnpasters and of
specie shavers STAT end.
What we shall have do hereafter is TO profit by the
lessons we have earned-to with moderation the
wisdom which have earned by ha I'd suffering-o be-
Of banking, dealing, and speculation
And while give due praise TO the Banks for the wise
measures which they have generally pursued since the
suspension of May 1887 and for the noble efforts they
have made to restore specie payments in little more
than IL months ought, soon possible, 10 reform
the Banking system. The whole country has been suf
6cenliy scourged into wiser councils The people will
become more cautious, and the banks more prudent
The State Legislatures will limit their numbers subject
them 10 heavier RESTRICTIONS abolish the small notes by
degrees and thus bring larger quantity of specie into
general circulation. The Federal Government, too ),
should be wiser-und instead of running from ex-
IRENE another they should hit the true medium both
as currency and as to depositores-avoid both the
Pet Bank SYSTEM and the Sub Treasury system-lnsead
of encouraging the banks 10 issue paper the public
funds they did three years ago. them off from any
discounts the public deposes. Instead of taking the
notes Of all specepayng banks receive such notes only
as the Depose banks will credit cash. Not rigldy
call for hard money, the Sub Treasury men are anxI
ous to do but receive under the restrictions have
specifed the notes Of the Deposite Bands such
they will receive cashand call upon those banks for
periodical settlements, and for balances to be paid in
specie or such available funds the Government may
want for lis disbursements Have no general depo.
si,es-bu substitute, in lieu thereof, special deposes-
Avoid the odious Sub Treasury sysem-curall, instead
of charging the Executive patronage-and keep the
public safe in special deposite instead OF expos.
inn the Sub Treasures of the Government 10 the temp
talon and dangers Of waste embezzlemen All that
the country wants now, is, that this vexed question
should be settled in u wise and liberal manner. Give
peace to public councisand concord 10 The friends
of the ACKNOWLEDGEMENTS era will dawn upon
our politics We want that great measure alone, to lend
additional lusue 10 the prospect that is Frightening
around us