Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-06-05

own Banks can now begin 10 let out with freedom. and
thus enlarge the currency, in the contraction of which
enterprise has almost been annihilAted We have but
hee DOUBT as we have before announced that rcsump
ton by the Pennsylvania United States Bank will bring
along In It's company about all of the Western States
and nearly all the Southern and Southwestern"
lhe N 7. Times confirms this stateInent-an states
that new confidence and spirit have awakened among
all business men, The doings al the stock Exchange
denote H. The movements OF men and things in Wall
street. Pearl street. and all Of business avenues de-
note II, and men coun.enances denote il.
The trading and commercial classes now seem con
vnced That the tide in our currency matters that has
oeen SO long setting against us, has begun 10 turn
favor and if the 'cuIrency nkers continue in their
present position and unable raise force enough
sustain the golden dam they have raised (or build
new one with iron doors and gaes) shall float
upon the broad ocean Of successful business and solid
prospentyUnited States Bank bills have improved at
least one per cent since. yesterday Sales were made
IN wall street at one per cent discount this morning
Nor are these halcyon signs confined TO the North.
happy "change is coming the spirit Of our dreams.
The counters Of Banks beginning TO glitter
again with the precious metals. We understand that
they will not now hesitate to accommodate the
fuoilc 'nStanter, by paying out small change. They
will part with few thousand dollars in that way; but
that will be of sort Of consequence 10 the Banks
The stream that will flow back into the Bank will soon
supply the little r that will flow out.-We hope for
our town. at least that the day OF shnplasters and Of
specie shavers STAT an end.
What shall have TO do hereafter is TO profit by the
lessons we have earned-to use with moderation the
wisdom which have earned by hard sutferng-to be-
of over banking, dealing, and transportation
And while we give due praise TO the Banks for the wise
which they have generally pursued since the
suspension Of May 1887, and for the noble efforts they
have made to restore specie payments IN little more
than IL MONTHS ought, soon possible TO reform
the Banking system. The whole country has been suf
6ceniy scourged into wiser councils The people will
become more cautious, and the banks more prudent
The State Legislatures will limit their numbers subject
them 10 heavier restrictions abolish the small notes by
degrees and thus bring larger quantity OF specie into
general circulation. The Federal Government, too ).
should be wiser-and instead Of running from
treme 10 another they should hit the true medium both
as to currency and as depostores-avoid both the
Pet Bank system and The Sub Treasury sysem-Instead
of encouraging the banks 10 issue paper the public
funds they did three ago. cut them Oft from any
discounts the public depoSles. Instead Of taking the
notes Of all spece.paying banks receive such notes only
as the Depose banks will credit cash. Not rlgldly
call for hard money, The Sub Treasury anxi
ous to do bu, receive under the restrictions we have
specified the notes Of the Deposite Bands such
they will receive as cash-and call upon those banks for
periodical settlements, and for balances to be paid in
specie or such available funds the Government may
want for its disbursements Have no general depo
sites-bu substitute, in lieu thereof, special deposes-
Avoid the odious Sub Treasury sysem-curtai instead
of enlarging the Executive patronage-and keep the
public monies safe in special deposte instead OF expos
ing the Sub Treasurers of the Government 10 the temp
TALON and dangers of waste embe element All that
the country wants now is, that this vexed question
should be settled in a wise and liberal manner. Give
peace to our public councils-and concord TO the friends
of the Adminstration-and new era will dawn upon
our politics We that grea, measure alone, TO lend
additional luse 10 the prospect that is Frightening
around