Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1838-07-25
From the Baltimore Patriot Of Jsly 10.


RESUMPTION OF SPECIE PAYMENTS.
The Richmond Enquirer publishes
the Proclamation Of Governor Ritner,
enjolning resumption on the Banks Of
Pennsylvania; and, as well as our
selves, considers the question settled"
The Enquirer says" There is no
doubt nop of Resumption" Accor-
ding to that paper, at will take place
in Philadelphia, in few days, and will
gradually spread to the South and
West. The Wilmington, N. G. Watch
man declared even before the Procla-
nation, that the banks ofthat city were
preparing to resume specie payments
on the Is, OF August" The
Baltimore papers (adds the Enquirer)
have just published an Exhibit Of the
Banks of that city, which tends to re-
move every fear about their resump-
tion."
From the Enquirer we farther learn
that ",he Banks in Richmond mean
to decline the invitation, which has
been addressed to them, to attend the
Sub. Convention in Philadelphia, on the
23d inst. They will probably notify
them by letter Of their anxiety to re-
sumo, and their willingness to join in
any measure, which may facilitate the
resumption at the sarles: possible day."
Thus, in our view, we shall have,
not a "gradual," but simultaneous
resumption fspecie payments through
out the Middle States. the West, and at
least portion Of the South. by an ear
ly day in the ensuing month of Au-
gust.
As to the ability of the Banks, Il is
not matter of doubt. They are per-
fectly able and willing to resume.--
But whether they shall be able to carry
out the measure of general resumption,
now resolved upon, and at the same
time, grant the usual or desired taclli-
ties to business and employment, will
Of course depend somewhat upon the
manner tn which the act Of resumption
may be met by the great pnblic. II
the people smile upon the measure,
and shew a disposition to encourage
the Banks in the good work, they can
RESUME, and grant facilities, also
But if any considerable number OF "the
people" take pans TO keep up excite.
ment on the subject Of suspension, and
exert themselves for a party purpose,
to prevent returning confidence in the
public mind, in regard to money mat
tiers, it is quite possible that the Banks,
however sound their condition, may
only be able to RESUME. The gran
ting Of the usual desired fncilities to
trade and business, might have to be
INDUCED in sparingly, or perhaps post
poned for a season. The whole affair
is very simple. The Banks are about
to resume. They would doubtless de-
sire to resume, and also to extend all
the aid they can to the business com.
munity. Now is it not very plain that
he who endeavors to prevent returning
confdence,--or TO unsettle that which
already exists, at such a Juncture,
does his best to limit the usefulness OF
the Banks to the community! Such
agitators may not and will not indeed
be able to prevent resumption; but
their partizan labors certainly may
tend to prevent the Banks from doing
all the good that otherwise they could
do to the business community. 1t re-
suits, therefore, that five the people
would desire to reap the full measure
of benefit from the act Of resumption,
now near at hand, We will sbew our
wisdom by seeking to confirm and rem
ovats public confidence in our money
ed institutions--which zoe knotc to de-
serpe such confidence, rather than to
labor at the work of undermining its
foundations. We thus volunteer a
word Of practical advice to the reason
able. Let it have what they shall
deem due weight, by all who choose to
on~oII thap,selvae in that catepOTV.