Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-08

lCOI iv,IofJtDS s,flf. JU
Behold the difference! Our imports for five years
amounting to sixty two millions; our exports almost no.
thing. The average import Tor the whole five years,
including 1887, amounting 10 about twelve millions and
q half Of dollars; and our exports, except for the year
1897, only averaging a little over three millions. This
is The Stale OF our own experience. II shows that,
without any demand for specie, it flows in upon US at
the rate OF seven millions per annuIn, but flows out
again; that with a demand for 1t, it flows in At the rate
Of twelve and Il half millions per annum, and nearly all
remains with Us. This is tie effect OF a demand for
specie for he Federal Treasury. LIE. that demand con-
linue. Let the Government continue TO COLLECT. and
above all, TO pay out, specie. and IN q lew years the ma
lionai supply viii be complete The country will pos.
sess as much as it can use, be 1t a hundtrd. n hundred
AMI twenty, or a hundred and fifty millions. The supply
wi. fad lis own level, and the excess will flow If
These, Sir, are the main ohjc ctions TO the bill. They
are The principal ones which have been urged. They
will not bear examination Every argument resulting
from them rs an argu.nen. IN favor OF the bIIi, instead ol
being against II. And what Is The alternative proposed
By those whn object To this bill; BY the Federal gen.
llcmen the alternative is openly proclaimed to BE- a Ma
!ional Bank that is 10 say, Nj. BIddie's Bank; for they
mean no other. BY a few OF the Republicans, a resort
to the State Banks is the alternative. The Federal gen.
llemcn agree TO take this latter alternative for the pre-
sent-as so much gained towards their National Bank
as 4 half way house TO That institution. This - candid
in those gentlemen. ], is candid, if it's not wise. They
will 90 with a few Of our friends 10 the half way house,
knowing that MIR. BIdJie can blow up that house any
night tina. lie pIeases, und that the Chestnut street palace
must then become The refuge OF the terrified inmates OF
the demolished stopping place.
Mr.. b. would rot dnate upon the dangers OF tins al
tentative. TO ienrn danger-to take w~aTnlng-from an
enemy, is n maxim Of great antiquity, and one which
has it's full application on this occasion. II neither the
conduct of The Opposition, their language, their speeches
on this floor. can warn gentlemen, 1t would seem 10 he
almost in vain TO appeal to past experience, to witness
The present, or TO contemplate the future. The State
Bank dsposite system, with the use OF their paper mo-
ncy. has failed us in time OF war and in time OF peace.
II has twice failed in time Of peace. IL is now IN a
>tate Of failure. The late deposite banks now owe the
Government six and a half millions ut dollars, when
an empty Treasury in vain calls tor. 10 rely upon 'hem
again, is to walk into the pit in broad day with the eyes
wide open. Our banking system, always on fallacious
principle always unsoid and delusive-is now osc0m'
lnp worse than ever. 1t becomes worse daily, ana IN
many instances, is made so on purpose, that ah"'"eF a
tastrophe NAV be produced, and then charged upon Inc
Administration, Issuance Of small notes, even down 10
a dollar; issuance Of post notes; connection win party
nolitics. and with that party whose connection mas oeen
fatal IN all its associates; subsection TO the policy oil the
Bank Of the u. States. on the part OF a great many
hanks: such is the downward course Of our banking sys.
TEN al present. Timely and prudent reformation mignt
save il; but all reformation is resisted and oafiita 10
make all worse, seems to be the policy OF those who have
mos, mower over The subject. Under these circumstances,
what fa,ui,y in the Government OF The U States to con-
meet its Treasury again with these institutions. big win
inherent dangers, and beset by a tremendous Ice
have gone over some Of the objections to the p'1n
for an Independent Treasury. have spoken 10 some
par,s of the bill before the Senate; but the merits OF thnt
bin are no part of the real question. The contest is Tor
mower. Political power is the object OF the Opposition
abuse of the bill, the means Of attaining it and a panic
The arand desideralum. Panics are the aliment OF the
Federal party-,eror their engine for governing the
people. The NEUROLOGICAL God, Pan, is the divinity OF
their worship. To him they look for heip-to that gro
tpsoue and hideous deity, half man and half goat whose
hare appari,ion in ancient times, would put whole rm'es
IN Hipht This is the ,utelary divinity OF the fedefai
party, and always has been. fanics were t'n pouo
from The foundation of the Government; and. 4o years
agn. the French revolution was what The hepuoNcan 40
,53;nis,r,,ions now are, the great magazine OF horrofsirom
mhich ,b.v suppIied themselves with "gorgons heads,
anJ .b;n,ras dire, to alarm and terrify the nation. MIR.
1" ersrson in bis memoirs, has described that period em.
.h.,io,IIy called The Rrign nf Terror. he has given
r n,nv Names 10 the description of 1t; but declares that
~ who did no, witness it, can form any idea Of
-. e,ro,is,n with which the Federal party then sur
,n,,ded itself, and the rudeness and violence with which
,hev brnwbeat and insulted the Republicans Some e1-
,r,c,s from his description Of that period, may bring up
rseruI ;rfcolleclions at this time, when the violence OF
,- ~ coosiIe,abIc y ,un, mus, certainly be sustained by tho
.rrcasury. This was an evil which ought to he met at ohce' oee.cia
il would grow greater by indulgence. In Tie e"f' ~ am =, Sn,oss
.aia IN u. itgal Monty IF tie eOuntry, aud tie SOONER ~"' ''
about the batter.
"uf Congress were TO pass forty statutes o ~ IL :. H., h.,
thew would not make the lnw more '"closI IVA" Va, -. o,o nnr
80 - shor Jhs received in payment of tu'rs 10 D cru
"' ;" - -, a ,.r,nl wa. paid To The IurrIa'i'c inl"het'nhs
~" - -. =. III. ,.snert. TIE rhohe strength g he "rf'F~.
J. !, nj c,;uion, ought 10 b. put Jprti 10 e'mp.. -. ~ y -
80 NJ tr.r, 10 Le 0oraE|eEi ~ it hga' y" u"
try"