Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-13

measure Of seDerity ooards the community insist that
al contributions TO The expenses Of the Government,
should be paid IN medium which, it is repeated, the
community dtd not possess, and could not procure
Now, must beg you TO read again every sentence dis
tnctly Of the above quotation, how perfectly it
TALES with the condition Of things existing at this mo.
ment and what has been done by The Government The
parallel runs perfectly upon four legs erery sentence
"Nlr Dallas then goes on to state That the policy GJ
and The interests Of TIE State Banks must therefore be
engaged in The great fiscal work o. by all the means
Ohseh e lTeasuryca employ Legislative psdom shall
prouide And this is precisely what ought 10 be done
at this time; and without is done, tell you, You
may talk in rain about the resumption of specie payments
the restoration Of the circulating medium any thing
like soundness All the means which the Treasury
Department can employ the Legislative ,cisdo can pro-
D'dc must be put in requisilion 10 enuble the Banks
10 resume specie payments the currency be
restored This was the opinion Of Mr.. Dallas the Secre-
ary OF the Treasury, Of distinguished abilities
and great financial knowledge. Then, of what are your
rreasuries and all this baderdash about dvorcng
the Government from Banks, &c, &c, &c.-a kind OF
catch phrases which have in substance meaning IN
them When the Banks pay specie, their notes are as
good as specie Why then should the Government col
ect the in specie When the Banks stop specie
payments, the Government collect The reusnue III
specie and must Of necessity collect paper some kind
other has been fully demonstrated twice in the MS
tory of this Government. Can be conceived that there
is such idea, that specie be boarded away IN Inc
sub Treasures to prouidc for the contingency Of the
Banks stoppng9 What supern,ive nonsense! Can you
hoard away and lock up 80 millions of dollars, the reVe
nue. only of one year. Perhaps am in a delusIon IN
this view Of the subject IL am should like TO have
it pointed out TO me. | will repeat my vcws-l say,
when the Banks pay SPECIE their notes are equivalent 10
specie at all the points where the revenue is
The revenue for instance collected IN New fo1k III Tue
notes of the Banks Of that city, will be collected in me-
dunn equivalent SPECIE provided the Banks pay spe-
ce Then why collect the revenue there in space, when
the notes are equivalent TO it. II the revenue collect
ed in notes. where is the Of subTreasury 10 keep
them? The Banks aiacays ready pay notes lhey
are never nsolvent their paptr-n their o'on pro-
misses pay The note is nothing more than the eridtnce
Of debt and you have that evidence by tue BANK return
and certificate of deposile (Which is always nude out
and sent on the Treasury when deposltes are made
as perfectly when you hold the notes And you might
as we'll subTreasury to keep the ceruhcales OF
deposite and Bank returns as their prom'ssory
The one good evidence of the debt due by Inc BANK
az the other A sub. Treasury to keep Bank notes
is wholly ridiculous and absurd If the revenue is 10 be
collected in specie, admit there must be spec'a, oe'
posite made Of it in Bank, or there must De SUD- iea
sury establishment to keep it. But then the question
recurs again. why will you collect in specie, when notes
are as good as spece? Ii cannot be to hoard up 10
provide for the contingency of the Banks stopping
The idea is ridiculous to the last degree how much
could YOU hoard up? Tive millions, six millions, or len
millions if YOU choose How long will ten millions last
this Government? Three or four monhs-and what
them Why, Sir, Government paper or Bank paper
The same old story rePea,ed-for the moment The Banks
stop specie payments the people will stop also; and as
Mr. Dallas said, There magic in mere Trea-
sury instruction to the collectors OF the revenue which
could by its virtue charm gold and sit0cr again
into circulation The people will not possess 1t and Will
be unable TO procure IL undidedbyhc BGnkS Has not
the thing bean tried? Was there not Treasury in
s,ruction last May when the Banks stopped 10 all the
Collectors and Receivers 10 receive nothing but specie
and where is the specie? The public creditors have
since been paid and the revenue collected, IN paper oil
some kind or other: Either in Treasury drafts-Trea.
sury notes or Bank notes. To be sure attempt was
made to pay the members of Congress in sPecie-but
even that attempt failed: have understood they are
now paid in Treasury noesand ought to have failed,
for agree entirely with Mr.. Webster this point that
they ong ht 10 take 'ncighJors are When the people
have and have nothing but paper as medium, The
Government officers ought to have nothing else. ,La
them take neiyhtors fare. If the people have nothing
but raeeoon and mink skins circulating medium, let
the Government officers be paid in skins.
al enclose you tina, part Of Mr.. Websers speech in
which he touched upon this subject with such nlmabe
wit and good humor But you can form no ioea OF Tue
effect from reading II.
"The galleries were crowded to overhowing with
brilliant cluster of beauty-thc Senators oil in their
places and half the House of Representatives were pre-.
sent His dramatic face-he smile OF rdicue and hu.
NOR with which his countenance was wrapt when he
introduced the law Of the State Of Franklin produced
profound silence and excited the most intense curiosity
No one knew what coming as The substitute Jor Spe
cc ms there was such thing as bank notes at that
lime in that country He kept up this curiosity most
admirably for time whilst reading and commenting
upon the preamble to the law which recled That the col
epeCle
10 the good people of the Commonwealth for the want
of good circulating medium, &c, &c, until ne came
TO the enacment-Hs EreeteHcy The Governor, per an
mum l. 900 deer skins You heard in q Theatre
louder burst Of laughter. He paused unit. silence was
restored and proceeded 10 the next officer HIS Honor
the Chief JUSTICE 500 ditto ditto, with comic humor OF
face of which no language give you any dea still
louder burst. He proceeded then 10 the Secretary 10
His Ezcecncy the Governor "fve hundred 1acc0on ditto
The laugh here absolutely outrageous. We all for
got ,chcrc ,oere-and seemed disposed TO in
terrupt The exquisite mirh which the Senator had
produced. The presiding officer forgot himself be.
ieve, completely, and enjoyed the laugh as hearth
" as any one Of the immense crowd. The Speaker
paused again until silence restored, and proceeded
with the pay Of The officer, and then TO the next,
and so on And the laugh increased as he proceeded
until he got to the pay of the constable To the
stable for servinga warrant, Mink dto!! thought
the walls Of the capitol would have bursed The roar
continued for tmc and the orator, (who all this
+ time preserved sancy Of countenance which no
priest ever had,) manesting disposition to proceed.
silence was again restored Be then gravely gave us
commentary upon The character of the Mink, and its
great similarity 10 that of the constable and how very
appropriate that he should be paid in Mink skins
, TO THE PEOPLE OF VIRGINIA.
Mark the course which the Bank Of the U. S. pur.
suing! Mark its object! See how it attempts 10 sweep
on charter with step steady as time and an
appetite keen as death See what the most ndepend.
presses Of New York say of Mr.. Biddle Letter -!
The issue before you is, National Bank and Mr.. Clay
On, incorporating hostility to National Bank,
and Mr. Van Buren, Such is the true issue at the polls
And what say you' Your voes will tell. You are
again and again invoked 10 save the Old Dominion from
the Wings, and MIR. Clay, and National Bank, and a
Federal Dynasty. To firms then! to firms
The N York Convention was 10 meet on Tuesday,
Tha 1uurn snV decide Ia