Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-06-19

The sspe Of such notes He would not coy any more on
this subject till the bill Of the Senator from massacnu
Mr. Benton said he might be mistaken; but he was
strongly under the impression that the banks OF assa
chuse,ts had lost privilege by the restriction IN ne
depose law of 1886 If he right, these banks mao
never earned the privilege Of having Their no'es
by the Government, by suppressing their sn,a
with the exception, perhaps of one or two oanhs W
ton If this the fact what right had THESE 20
come forward now, and ask Of Congress, not o"!y ~
mission Of the penalty, but TO encourage mem ~ 100.
ing small notes: Why if there never hao peeu Us.
pension of specie payments, 'heir The
same The Senate and country must observe ue c"Ss
of issue now made. The suspension oegan III t, w,
York: and the reason given Dy lhtSe oa'h' 80: ~, h
thew had been ruD upon What was tue reason gre" W
The -ot of the hanks of the country! why they sus
onded soIev because the banks of New YORK mao set
them The example declaring that they would resume as
soon rs New York did, and one OF them supeiauo3d "r
declaration "that had consulted us oicn StTtngH,
!, ,ond have gone on That was The stale oil The case
Nov m. hanks of New York resume; but new sci
of hanks had sprung up presenting change OF ISSUE
bo,omed on an aerhoughi which was, that they cou'
mn, resume until the Federal Government would 'u"e
their notes. II is nonsense ea,d MI D. lot Us
If we did no, understand that there is class OF banks
which is political contradstingnished from the class
WHICH is commercial. The political class incl'nes 10
take every opportunity IN make mischief while tue CUM
mercia class is endeavorng in good latin 10 carry ou
tho ob;ers for which they were created. Inc su"eet
nns, he treated as it is and they must call things oy
their right names. He repeated that the oahks Peu
tioning had lost privilege; they had nothing 10 c""
Main Of nothing TO ask for. The movement now was
md ,hev should not disguise it, IN JOIN the o'nRs dhu
,h Covernment Their again. after the separation had
been made by the action of The banks IL was an al
tempt to Join Bank and State together ana why shoua
,br M, saw So Mr. Il. here referred 10 the report OF
the Finance COMMITTEE which, he said, had fully gone
into and explained the whole sub ject. When the pro-
per time came Mr. said he would endeavor TO give
some reasons for the part he should take and Inc foe
he should gve present he would not go TURNER ih'o
the subject. . A.
After some further remarks from Mr. Webster, Inc
memorials were laid on the table, and ordered 10 oe
printed.
Mr. Webster then, in pursuance of previous notice.
asked leave to introduce the following:
Bill making further provisions Tor The coec'!' VI Wv
public revenues
r. :, ,,gc,.d &c Tina, the operation Of 50 much oil
the act Of June 23d, 1886, entitled An act 10 regulate
the depcs,es Of the public money, as prohots the re
ceipt Of the notes or bills of specie paying oanks "h
have issued since the 9Th Of March 1886, notes ar DIS
of less denomination than five dollars, be, and Inc
same hereby, suspended Until further order oil Con-
gress.
SEC ind be ii further enacted, That it shall be law
cl for the Secretary of The Treasury 10 select and EN-
plov as repositories Of the public money. according to
the provisions Of said act, any banking institutions which
may be established under the provisions OF la" OF the
State in which it exists.
SEC find be It further enacted That ii shall be law.
fui for the Secretary Of the Treasury hereafter 10 seecl
and employ repositories Of the public money accord
ing 10 The provisions Of said act any bank which shall
redeem its notes and bills demand in specie, notwlth
standing may have stepped specie payments since the
date of the said act.
SEC a. and be il further enacted, That the operation
Of the second section Of The act Of pr H. 1885, entitled
sAn act making appropriations tor The payment OF re-
evolutionary and other pensioners CT the U s. for The year
1896" be- and the is hereby, suspended until fur
Their order of Congress.
Leave was granted, the bill was introduced and read
the frs, time and, on the suggestion OF Mr.. Wright that
would be of no use refer report just having been
made on the whole subject from the Committee on FL
nance the bill laid the table, with the undcr.
standing that il would receive its second reading and
come under the consideration Of the Senate tomorrow.