Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-07
PANT coarent;on and .ifoney Matters


The Convention takes place next week at New York.
Is awaiting It's movements win The most In
DR.. Brockenotoncn and Mr. hlaclarIanu the rIr,
dents oil our Two bahks loft this city yesterday morning,
in company with Judge Canre,on The President of tie
Bank Of North Carolina.
The New York American stands fast TO its faith. 1t
insists upon it that it is as clear the light that in this
matter indeed in all Others the path OF policy the
path of honesty,-and that by doing what by law and
honor they bonnd 10 do, Banks also promo.
ting their highest and substantial interests as well
as that of an honorable and solvent community"
I" Moreover-and that consideration alone SHOULD re-
strain the expression of the doubts and difficulties from
time TO time thrown out, about the expedency and the
consequences of resumption here-the law is happily
mperafiUe The banks must resume or die, and we are
clad of it-fpr their virtue will be the less in
sequence Of their Fears what must be done, therefore, it
will only be injurious foresaGow likely 10 produce
evil instead of good.
"Tbc opinion seems to gain strength that as Boston,
and indeed, New England, ready 10 unite with u.s.,
Philadelphia, though not approving, will concur; and
the following section Of law just passed by the Mary
land Legislature, shows that Baltimore Will JOIN the
goodly company; for OF the Of Virginia. with the
balances she has here we presume there can be little
doubt" (.N0nc al all
The following from the ~ Y Herald of Wednesday
last, sheds further light on the shifting scenes OF that
Commercial Metropos:-"The interest increases we
approach the crisis Stocks to-day Of all kinds fell from
Ito I.2 per cent. Treasury notes rose little.-Ex
change on Philadelphia is still, 3 to 3 2-and on Bns
ton 1t 10 down 10 par Inc excitement, luilos, uls
cussions, and controversy, are endless.
"From Philadelphia we have some very interesting in
formation The refusal of the u. S. Bank 10 pay their
post notes here, has created impression that the in
sltuons Of that city not in sound condition. The
holders Of such paper very much ncensed and we
have every reason to believe that demand will be made
for specie and if refused that suits will be commenced
against the Bank in the IT, S. Circuit Court The fol-
loving is copy Of one OF those notes;
No. siO5. Vsnc,te No. eG05. &. y
Dollars 5000 20OD llnllars. .
Twelve months after date, promise pay f. H. Chr .
mack or orier-7po Thousand DOHarsTwo Thousand Dol
received For the President Directors Co. OF the
. Bank of the United States. y
y PnrLADELrH'A April |, 1897. . n,r,,, ,., O
o 6. JAuOoS, Cashier o
the cal,sr iciussi 10 pay specie on dsnaad
subjects the bank to interest of II per centum for
damages from the date of demanding, which being
eoverabIe in legal money-specIe-wlI fully indemnify
the holders for the loss Of exchange between n. York
and Philadelphia.
From this and other reasons there is reason for be-
evnp that the u. S. Bank s unable 10 resume in CON-
pany with our banks. commercial letter speaks as
follows:
Gan improvement Bill before Legislature, requires
appropriation s5OOOO0 The Governor pledged to his friends
proposed offer the u s. Bank $4,000 900 increase
ds Go tex them 10 per a and thus raise The balance oil ST.
The project to add SIS 900 to the capital of the
U. S. Bank, undoubtedly originated with the Directors.
The debts due by the Southern and Western banks 10
Philadelphia entirely impede any resumption of these
institutions in May. An addition Of S5 600 OF stock
to the bank would find ready sale in Europe, and thus,
furnish The means provide for present engagements
This is very important movement, and we shall watch
its progress :.
"From Boston we learn that, Mt recent meeting Of
the Associated Banks it determined to decline unit
ing rcith the ltlo York banks in resumption Of specie
payments in May. This information comes by very
direct channe-yet there are many in Wall street that
doubt its accuracy. day two will solve this doubt
ain the meantime monetary interests are not idle.
Private intelligence from Albany states, that there is not
the sghtes. prospect for proongaion of The Suspen.
sion Law by the Legsaturenot ten votes could be got
in the Assembly for such notion twenty auhoriz.
ing an issue of post notes. The only practicable
sure according the best informed circles, is the issue
Of Stale Loan Of Six Ten Millions either directly
to the banks under the shape Of aiding Internal I'm.
proyemens. This is the plan revived. which Go.
vernon Marcy proposed in The panic Of 1884. He
and his party mil ht agree 10 such plan Of relief but
other. Of the old loan the banks have already avail
ed themselves Of 100000 Whereabouts, but villa. is
that among so many?
Such the in circulation 10 day in Wall street
is Oery. erdtnt that The approaching Bank Convention
here, nU drdD upon its movements The attention IF The
lchols countTy-nay, Of the rhole commercial cord.
THE CHEROKEES.
1t is said, that Cen Scott is 10 be dispatched 10 the