Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-05

asichHRaogad, Thursday, April $.
ResYmp.tOn.

la
,bcv yere 10 resume ard is Institution !" refuse
VIVA, would the u. Stairs hinl; Of his Bank What
opinon would they form Of his managrins nt-oi Inc
strength of lis resources or Of The integrity o IT. mo
lives: How would his credit stand IN Europe: Under
the force Of such Inducements he is said TO be no" at
tempi;Eg postpone the resumption to iarr period
The last Globe says, that since the Boston hanNs, ana
many of the Western Banks have instructed heif dele
a,cs to unite with New York in the resumption OF spe
Gle payments and restoration Of business St Bddr has
rcsortcd to new mode %. prevention. Threats aud &c
fiance have been turned 10 coHXinG and whccdrT 4
prrpmDnrv refusal fix day longer insisted upon
10 leave all 10 the discretion ot The Philadelphia n1cleI
and his urea, bank The firm ard rrsnue stand and The
conclusive reasoning. Of the New York bank committee
IN IA ror Of resumption and the unqurs,loncd ability {"
the banks they represent 10 effect the object has com
perd Mr. Bildie To resort In new cXpedIent 10 de
feat The measure. In anticipation Of the meeting OF The
Bank Con yrnon The llh inst, lie has despatched
arcn:s various quarters 10 press Tor poEemen'
until October MIR Cowpsrthwatr, the Cashier OF
the Bank of The u. $ has, we learn, been despatched
To hold consultations IN New York. and got ~ petitions
to the New York Legislature 10 give The Governor dis.
cre,nnrry power to extend lh relic! law: to enable
the New York banks to comply with Air Bdde sup
pIicaiions without FORGETTING heir charters From ne"
York after setting this scheme IN noon, WI. co"Per.
,bwai,c has proceeded Boston, In persuade tic politl-
cal Influences and pecunary interests OF that section
arain to mite with him in ioI!'ng the honest and up
rrhl intentions o! the bankers OF Ne" foik, "hch Has
already operatcd lnyorahy for lhem, III renewing The
confidence and dra nE the expectation oil the country
upon them ~
THE \. York Herald Of Monday las, sheds additional
lights Mr.. BiddieS movements IN the following re-
marks
'1hc crisis in the resumption Of specie payments and
rcf,rm 10 the currency rapidly approaching. Al The
close of the week the Memorial or Petition, to which
we alluded Tuesday last praying The legislature 20
extend the Suspension Law, Ia take some new action
on such measure had received il.gr number Of sig
natures and was ready TO BIZ sent 10 Albany coni'
mtce we understand has already started with ii Tor
Albany. The Developments which we made lew days
a. OF the movements and negotiations OF the Banks OF
this civ and those of Philadelphia. correct, III
every material point This negotiation has been pend
inG between the New York ard Phillde pha Banks for
the purpose Of preparing some middle ground o ac"n,
10 MEG, uron al the assembling of the Bank Convcn
ton II is also currently stated in Wall street that
mission for the like purpose passed through New YORK
the other week from Philadelphia to BOSTON, having some
such negotiation in view MI C"wp"r'hw"''e' Of the
United States Bank aud Mr. Lewis, OF the Glrard Bank,
were both few days ago, we have already stat
ed and have strong reasons for believing that The
Bank Convention, and the resumption OF specie pay
menis were the business which they conversed with
our fnancicrs.
CAS- we have already stated in account Of the
movements las. week. The Philadelphia Banks decline 10
Join the New York Banks in lie act OF resumption so
early as the month Of M-y. The reasons mentioned IN
their written reply to the Bank Circular Of the 30 ut
we're enforced and enlarged in informal CONVERSATIONS
among the parties negotiating. On further reflection IT
probable, and particularly since the action OF
COuDress
sury BILL that the Philadelphia Banks might agree 10
resume on the Is: Of October, or somc day between
that and the lst of January next, provided The }at
more Boston, New York, and other banks would all
consent to such delay The reasons are these
the commencement of business season Is beleTed
10 be the most fitting time for such measure as ge
neral resumption. The 10Th Of May nj which Time The
y York banks compelled by law 10 resume, or forfeit
their charters contrary 70 the natural current OF trade
At tia, re The spring season is and the crops Of
1857 have nearly all gone TO market. The month OF
May is considered therefore, unfit Tor the commencement
of specie payments; movement which among all imam
cirrs, is considered synonymous VIII; general expan
SION of discounts and circulation In The month oil Oc
the great cotton market Of the South begins. From
iha; period the tide of commercial confidence generally
rises-the wants Of trade Increasc-and The natural eX
plnsiOus OF the banks begin 10 move. From October
up Jannlry, ii is. therefore, deemed the more natural
period for general resumption than the month of May,
June or July.
"Under these very rational views has The pending
gucatinn been conducted between the New York and
Philadelphia bankS-and from such Causes has arisen
the present movement here resulting IN petition not
Of tic banks bat of the mercantile interest, tur short
pro!pngaon of the suspension law. The shape which
this NAV take is difficult 10 tell. The banks. though
thew undoubtedly set ii in motion do not wish 10 appear
in it, 1t is proposed, however, IN certain quarters, TO
give The Governor Discretionary power to Proong the
suspension law for limited PERIOD in order TO meet on
n proper ground the result Of the Bank Convenon.-
On the lh inst this body in this clty-on the
10Th inst the legislature stands adjourned Five days
may be sufficient TO develope the views of the Bank
Comscnon time allow The legislature 10 act pre-.
vouS their adjournment. proposition TO give the
Governor limited discretionary power, is therefore
drcnrd the plan Of meeting the difficulty Such are the
views. feelings and movements agatcd IN our mo-.
ney circles daily The interest IN these matters IS IN
cIpasng as the Bank Convention approaches.
yesterday foreign bill day for the packets 10 sail
Tomorrow An immense quantity OF bills were in
market-Ths unparalleled and continued fall in the
foreign exchanges will produce singular effects in
short time Since the decline took place and fell below
par il, is known that nearly 81 100000 of specie have
flowed into this country and IL ls now stated IN he best
financial circles, that in less than four months about
"a 900 900 sterling, equal TO $50 10000 will be on lis
way from Europe to America. If such reiux should
take place it NAV greater disturbance in the Gre
dit system Of Europe than they prepared to meet
The approaching movements of our banks, in favor of
cash payments, will however, be benefited IN an extra
ordinary degree.
The Maryland Legislature adjourned on Friday last !;
aer passing bill providing for the payment in specie,
or It's equivalent, either here in Europe, OF The int.
rest due the Internal improvement !oan-and also
The Bank BW requiring the several Banks aud Savings
Institutions Of Maryland 10 resume The payment OF their
issues in the first day Of January next or within
80 DAYS after such course shall have been adopted by
the Banks of New York, Pcnnsyl vana and Virginia
The Legislature of Pennsylvania have fixed on The
18th inst, the day of their adjournmen-but they
have not yet acted on their Bank Bill.
The last arrival from England (25ih Feb) represents
money as continuing unusually abundant and discounts
on good bills remained at 2 = 4 l-2 per cent. All
anxiety ha wing U.I -liira IN nnllislon between
England and The o. States, arising out of the Schosser
outrage public Securities had advanced, and Consos at
the las, dates were 90 I'D IS The export Of precious
metals from The port of London for the week ending
2Ith, 1900 ounces Of gold 10 New York.
Runors Of Changes.
The press is teemng with runors of new casts OF
characters Washington. The N lnelligencev even
tces them in the following guse: The story goes, that
is IN he Of