Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-06-11
LySGtsBUHG, yISE iss,.


successor in the Presidential cnair-and especially
alter broadly inmatlng that this repeal would de
prlye Bidde and the Bank" ofall excuse for a con
''nnahee oil the non-resumption policy thereby di-
rec'iy coniesslng that the tendency of the Specie
Circular was adverse 10 such step,--we little ex-
pecied 10 that Journal four days ate rwards when
Biddle in obedience 10 its summons " stood CorfI, y
and ago"ed his readiness to Cooperate in general
resumption, take the bold ground that the annun-
CATION oil Mr. Bidde's willingness to change his
pohcy' ioundedppon this change in the policy ofthe
government, was amare pretext," seized upon as
an excuse for doing iha: which other circumstances
warned him that it was necessary that he sbonld do
IN order to appease public clanor, aud to maintain
the credit of his institution 1t only shows how re-
luttant are the enemies of Mr. Biddle to do him
SIMPLE Jns'Ice-and how eagerly they avail them
selves OF every circumstance 10 misrepreseut and ca
illuminate him.
Little more than month ago, Mr. Bidlle wrote
to Mr.. Adams, stating, among other things that,
50 long as the government maintained Its hostile at
ttude 10 Banks and Credit. it would be mprudent. if
not impossible, 10 resume specie payments and as
serting thaas soon as that attitude should be chang
ed, general resumption wonll be rendered com.
paralVcy easy aud safe, and ayowing his own real-
ness to cooperate in tia, desirable measure Well
tile government changes its policy by repeating
The Specie Circular. Now thinks The Enouire,
we have " Biddc and the Bank" on the hip:-
Come forth" Mr.. Bddle. or hcncef,rwarJ sinh
Ject yourself to d" the denunciaions revery homes,
Bank and of every honorable man" in the country
Mr. Biddle, had, however, before the summons
reached him. avowed his readiness to resume-And
the Enquirer instead Of giving him credit for so do
ing. as 1t would have denounced him had he con
tlnued his resumption policy declares that the
repeal of the Specie Circular had no influence what
ever upon his conduct; but that he would have
ncompelled, by public clamor, aud the safety
his Bank, to open its vaults, even though the Spe-
Gle NtrcuIar had not been repealed at all BY such
ontendiced juror rs this, of course "Bldlc and the
Bank cannot be fairly tried. They would be
found guilty, ard subjected to punishment in III,
teeth Of the most unequvocal evidences of their in
nocence. But we appeal from. mind 50 warped
aud poisoned to the great jury of the county, and
upon the Enqurcr's own remarks written from the
impulse Of the moment, when it was 50 oycrioyed
that tile Wings had at length succeeded in cutting
of branch of the great Expelimcnt.r and
beoreit knew what would be Mr.. Bidlle's course,
rely for verdict Of acqui,tal-and still more for
the award Of praise Which is Justly due TO him.
Bat is true that the repeal Of the Specie Circular
is uuinponant and u0nanentia as tie En-
quircr represents tbs ifforgv,fa Of the con
gratulatory' tones in which thH repeal was announ-
ced to its readers only four days previously lit
be SO, wha, means the following resolutions adopt
ela meeting Of the delegates of the Associated
Banks Of the city and county Of Phladephia, held
al the Exchange in that city Oh the 2lst of June
Whereas, the recent action of Congress IN
rcSr3RdiHG the Specie Circular and abpIishlqo for
the present aud future all Distinctions III the mode
OF payment IN the dttercnt branches OF the pub
hc revenue, has renorci tie chitf obstacle 10 a
restoration y The currency; and whereas, the banks
OF the city AMI county OF Philadelphia. are dc
snons OF proving 10 HE community, by inme-
date action, their sincere wish to c0operate ait4
Ac GorernAom in replacing the monetary system
OF the country ina sound aud healthy condition
Therefore,
"IcSJltda, that a committee of five members
OF the delegates OF the associated banks of the
Guy and county OF Philadelphia, he appointed 10
consider and report 10 tins board Wednesday
next, suitable measures TO be adopted to accom-
pish an caily and general resumption Of specie
payments
"Rcso,gei, That the said committee be au.llo-
tiasd to correspond with the Banks of the hbor-
lng States upon the subject referred TO it, and in
the Interior
Here we find the delegates from al the Banks in
Philadelphia city and county soemn'y affirming
that the repeal fthc Specie Circular " has removed
the chief obstacle to the restoration of the curfen-
cy." And II pretended that the same circum-
stances to which the Enquirer the Globe, and 9th
ers, refer, as being so influential in compelling Mr..
Bidde to change his policy, could possibly exert
any influence upon item. Why, then, do they as
crbe their readiness TO cooperate with the Govern
ment." by resumption of specie payments, to the
repeal of this peruc9us and mischi, making Cmcu-
lar ! Simply, as they assert, and as Mr.. Bldde in
his late 10 Mr.. Adams, declares, because that
repeal "remoyes the chief obstacle" to a general
resumption And this is literally true. The re-
peal OF the Circular restores confidence, which has
alone been wanting. for months past, to ensure a
general resumption for, the periodical statements
of the condition Of the Banks, show, they have not
been, for many years, better able than they now are
TO resume. and permanently to MAINTAIN a resump-
ton, provided confidence, the vital principle of
the Credit system, be thoroughly restored. 1t de-
ponds upon the future action of the government
whether this shall be not. Let abandon
its Experiments and Expediens, and we sho move
on hencelorward smoothly and prosperously but if
II shall again assume hostile attitude towards the
Banks we shall witness another SUSPENSION to be fol-
lowed by results which leave it to fttury to un-
fold
The truth is, the ENQUIRER is reluctant tn ado,i,