Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-20

RHa" IS 81 ni0 AGA, being reduction since the
YsH, Of Sai0500; dePosites not on interest 3d.
EIJNH ,dncIion S60l,6t9: deposite on interest ST.,
%',S; ,,t,r,ion Sl47 7SSlhe amonnt of specie on
k2R.N :, ~ lS6 being an increase since the above
p'a = 90 a,.' bills Of other banks in the State 81
Et az % npn,,an $3.50 20I; balances due from other
IA i! ~ Ig7 90: uc,ease $l12,4S9; whole amount {"
p| ~ GG9, being reduction /" Two months OIL
SS.. ,,,r,oycRcnt looks like resumption.
81 THE TRUE ISSUE.
:, v,,,edy (au,hor of Horse Shoe Roe'nsoni IL the
VI C,o;,datc Cor Baltimore. lie has published an
10 me |olcrs of the District, in which he tells
III, he goes "cxpsio;tiy for another Bank ct the
81 .s States -thSt nothing can give "any SOLID ana
,s,.cn relief from the present disasters but through
81 Institution bat that 'ihe Presiden. has vowed
81 ', Rank shall find favor in his eyes that "the
81 o. lows bat one scuedy-th1t taught BY grted,
! ed expsrience-nnd that remedy is to!eiddrn by
".,oried cow and lighted faith OF the President-
sE.a power shall prevail IN this sir'ic-he people, OF
'". s,7rsn, masers:"-Down with Van Barea, then,
sc with the Bank Such is the creed of the Wings
4 ,,,,y Up with MIR, Kennedys "Harfy OF the West,
4 ,ir, with a National Bank!-AnG this language IS
a rgcated q, the very moment, whea the s"smer
ps n the United States is tar from CONTRIBUTING
.Ief 70, OF, present disasters 50 tae from assist.
e o,aee Banks 10 redeem their obligations; that II
..,rauing every nerve 10 prevent .em from resxmng
$50 ,ayw,ents and to iascn an indeSsi1e iecedeema'
No ,l?s, cGrsency, upon the whole cos'munsy:
sole of Virginia, This is the true issue. HAIRY OF
-, Il est, and National Bank-or Martin Van Brren,
,ri uncompromising hostility to National Bank Mr.
Kennedy makes the ,ssue--and so wR the Whiss OF
gin;a next winter, if you put il in their power 10
tec Wing Senator. and to pass resolution IN favor
{, 4 National Bank hch, then do you choose: Clay
,nd Bank, OF Van Brren without one: Say at your
Hastings Thursday next To the polls then! 70 the
ca,, Ind ss,sw the Wings that you will 40 longer be
ycd by temporary question, winch WIKI probably be
,,,lcd in monasbut that the spirit Of the National
y,ns never sleeps and that you will in form lend it
nsnaree OK ad-ether by your disse nsions your
,,slhy TO the polls, them To .ae polls!
ar. GREET REGUt-7T0R' -alies .,an Ressmcr!
~ o,per has criticised with ability the letter Of
", Riddle thaa the Boston Patriot, lWhig) It ex-
I,3ss all his arguments. Take few specimens:
fse present favorable state Of the foreigI exchanges
contrast with The highly adverse state al the TUE of
.uspcnsoR is admitted by MI Biddie. This change of
.rmsta,ces independently of ali Others is Of the ut
mos, lpo7ance. In place Of the expectation Of spe
.e By every packet TO Europe g: taat time, have
NOW IS abundant imports. In conneIioR with this
fact il rus, be recoHec,ed that the immense TO-
reign commercial debt, the sudden demand for which
produced the untavcrahie state Of the exchanges at
that Tine aud emplaticaliy the ckef ;mme.
date Cause Of the suspension, nearly paid
% The country has been, for gear past, exp sting
With comparatively small import Tie exports Of Tie
g,ar rOsI September last, compared ,cih Tie Imports
i 10 be hoped, will be greater than in any foemer
war of our history. The difference ia the state
Of the exchanges is therefore lot nosaal and Temporal
w. jss real, end p-0dRced 5y substantial and Sufficient
9pa. The excess of exports over imports is lkejy 10
,ntnse and it is likely TO be increased rather than d.
uinished by return TO specie payments Another of
lie immediate of the suspensien vas the great
expansion OF the paper currency the vast amount OF
commercial engagements, and bank discounts THESE
Il veil khowE eveVy where very much re duced-
DusiRess operations eff every description have been Ii
med to the narrowest possible scale. The universal
effort Of men Of BUSINESS has been, to discharge their
existing obligations, and to contract as ew new ones as
possible. Il is this wEicn has caused, or ratheS ccns
iced the general stagnat;on Of business The banks
Of New York. Mr. Biddle remarks, have reduced their
loans since the suspension to the LIST o! March last,
FROM fo.ty.six millions tn thirty millions, and thes cir
cuaon from nine millions 10 two millions The banks
Of this city have reduced teis loans TIE last tree
months three or four millions and their ejaculation
from osr 10 two millions The banks in every other
part Of the country have reduced their accommods
ns, and their circulation, if not in the feme propov
ton certainly 10 very great amount. In every i'm
2o!.n. particular, therefore, with the exception Of
apparently furnished faith and wounded CREDIT ,ke
banks are in much favorable position than they
were in at the time CT the sespens'oa ard VIXEN the
circumstances considered under which that fai,',
vas violated, end their credit impaired, rery small
portion Of the community will, that account, hesitate
repose them hereafter as unreseryed confidence
as at,ny period heretofore, &c, dc.
"a great change in the comparative relations between
debtor and creditor before and after the explosion
therefore unavoidable. 1t is it depended those
who controlled the banks Of the count.y oetermne in
measure, ii least temporarily the degree Of that
change This difficult and delicate responsibility
which oeyoved upon the conductors Of the banks
throughout the country, from the moment Of the
psnsion AS body they have acquitted themselves
under this responsibility credable to
themselves and TO the country, will venture 70 say,
than any dared to predict. After lapse OF eight
months, having discharged their respective trusts with
exemplary caution and discretion the directors OF vast
number of banks in more than twenty States appointed
delegates to meet in New York The object OF this meet
ID, 81
ther regard 10 the which their respective nte
rests and the interests aG6 rights Of the public required
them pursue; and agree possible concerted
system 0faclien for the benest-The delegates
at this convention fully discussed the question submit
ted for te, consideration, and agreed in recommending
that te banks should all prepare, far possible foe
resumption OF specie payments, at early day, 10 be
named al an adjourned peeng of the convention to be
held the lih cay OF the present month. This ad.
jouvned meeting is assembled, add il is with part
cula reference the cocrse wb;ch ought be pursued
oy this eonvenoa. tfet this letter ia published
il is apparent that IL the argument be sound, and wor
thy being listened TO- ought to have been addressed
10 the convention Of January last aud not The present.
when The changes in value alluded to in the letter, ara
already effected, and the currency is reduced in many
OF the States least nearly TO the specie standard
Would Mr. Bidd!e have The banks relax the restrico as
winch they have already put upon their circulstion-
produce new expansion, that s,ay De compelled to
MAKE another curailment,-an visit upon the people
twice the m;cchiefs which il is difficult 10 bear but
once:
1t is thus that Mr.. Eddse is c-iscised-hs arguments
eIposed-end his purposes unmarked. Ard yes are
asked to cry him up the great Financer-to app!a I'd
his Letter 10 the very echo-subscribe to his sophisres
and take refrge under the wing of National Bank
This gle fact answers the whoe-Compase his prac-
tlce with his professionalism what is the result -
That the great legislator of the Currency, s the
leader Of The Non.Resumers, What a fne permanent
Currency would such an Institution eplail upon the
county!
TO THE POLLS TO THE POLLS,
The Wigs are still counting without their host In
the city of New York they have been run to the eye.
!ashes They have barely squeezed in their Mayor and
have carried the Common Council only by Che otsnacy
OF the Republican candid tes in one Of the Wards who
INSISTED upon running, and los, the Ward aud the
Common Council