Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-08-21

Having, briefly in former number, assumed the
ground that part OF the blame could justly bs attached
MIR Van Buren, for the late pressure we now proceed
meet two Of the assigned by the higs for lis
let. The want Of National Bank and I'd The
Specie Circular. wish to be understood that have
always been and still am Of The opinion, that Congress
possesses The power TO establish an institution OF this
kind wish it also TO be UNDERSTOOD that have been
for The last ~ years, opposed the late L. 5. Bank in
consequence OF tie open part It took IN The politics OF
r country and OF It's parlIzan character IN The elections
The Wings assert that the non.ex!ssnce OF U States
Bank, one OF tic reasons why our monetary system
hpca,nc much drranged Is this trus? We say not
To show is utter iaacy, let suppose. that in lcO,
bank had existed aud that lis branches had extended Ia
every Stalewe ask, how would that have enabled The
importing merchant 10 pay his debts ~ Europe: WHAT
great magic is there in n name to perform such
wonders; Unless the Mother Bank and lis branches
had loaned their money, The mere crcnmstance OF Inc
existence of bank would have effected good. and
II they loaned their promlssory notes, they would no
more pay the European merchant, than Pronssory
nole signed by y Blddle, President OF The L. s. Bank
of PennsyIv The importer wanted gold or silver AND
nasnuch az we may reasonably say, that u , BANK
would have been enabled to meet their ous,and
ing debts with gold and silver, Than erea great many
other banks and Mr. BIGdles along with them the con
Ciuslnn then that if such institution had existed IL
would inevitably have been compelled 10 have suspended
also. We further led this conclusion by the fact
that there would have been gold and silver in
The country IN IS3G 1897 If the U. S. Bank had then
existed How, then, could the demand Ut specie Tor
importation have been any better met
The Specie Circular - second reason assigned
great many who have been very noisy and clamorors
about tins Circular ignorant of lis real character
they at what. IL: pnImt OF fact, makes modern
Wing The Specis Crcuiar' tie Sprcie CrcUar is rnm-
rs,ted forth from the hall Of Legislatures the press and
the stamp. unit many have been persuaded TO believe,
that The design OF issuing to enable Gen Jackson
take into m immediate possession, every cent oil gold
and silver IN the Union and dispose Of 1t when, how,
and where he pleased Now. what this Circular, 50
nai,tul the and perhaps interest OF MI
| Bddle and his Satellites Why, it was simply this
That The Of the sales OF the public lands, was
10 be paid in specie. And why this opposed: Be-
placed the individual who desired TO purchase
home for himself and family and The grlphg Spectator,
upon more equal terms We, however have never been
enabled to comprehend how it was, that retaining the
Specie in the Union couli s rise IN price, when
compared to bank We should have thought, the
there OF it, the easier could De bad. The
Specie Circular however, it is SAID caused drain from
the North md South. and carried ii TO the West Not
So Northern spectators in the public lands might have
carried away some but the genera the purchaser who
bought 10 settle either lived IN the West OF had Western
! notes and had 10 obtain the specie from the Western
banks; that in the end. The amount OF specie in West
banks no more. That this il true, find that
they he'd in order defend themselves 10 follow suit,
and suspend along with the Northern banks So Tins
great canor about the Specie Circular Of piece with
the many other wonderful hobgobns ured up by the
Wings to blind the eyes OF the people II all comes to
this that there is sruggl between the people and
the banks and should the party who sides with the banks
succeed the people will have placed upon their shoulders
burden that will ultimately press them to the earth
and placed them, who will never cease 10
exac, more than Egyptian bondage Hereafter. we
| shall say ALPHA.
KIyG & QrEES, oh Aug 1888.
The declaration surprise. wish -. distinctly
hat always opinion hat Congress
power But must hand 7Pha next
Correspondent whom indebted for the questions which
pcpounlcGnn especially for the Investigation which no
institute. Mr. MadoH Journal. We viii answer oar