Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-10-22

and unaursonahl drafts on Philadelphia we're offered
nj The board 10 dav at IL per cent discount and but
small sales could be effected al mat iu"ns rate CO was
The best bid for The lot III
| NEw YORK Oct lS-Stocks have oil declined again
TO day IT, S Bank six per cent Bank OF Kentucky one
and n 1Ialf Delaware one half Harlem one, North Anne
rieon Trust one American Exchange Bnnlk nne. $500
sigh, drafts on Philadelphia were sold n: q; more OF
feIed al s6 3D. &c It'd. draft for S2DtOO was sold
Yesterday TO John T. Smith, exchange broker at %, and
subsequently large amounts ofeied al ca IN tie street,
and refused
The talk in Wall street u.s. that The U S Bank stock
rose day two since in consequence OF the Bank con
sening lake It's stock at par in payment for GER
tain suspe nded debsand considerable purchases were
made for lha, object Be this ns it may, the Bank will
every cxpedien, 10 bolster up rotten concern
| but the time not far distant when The Bank and lis
whole system of finance will excite universal contempt
and execIalion.
Policies specie for expectation, for considerable
amount have been cancelled, and a large amonnt in
gold prepared for shipment paid 10 Of our banks
for Exchange The current u events, as well public
opinion all lend 10 sustain our banks -EU Post
PRovIpEscE BAxxs-Bank Meeting AT an adjourn
ed meeting Of delegates from The several Banks in this
city held last evening the Washington Insurance Office
| il was understand agreed to suspend specie pay
menis fourteen banks voting in favor q" this measure
four against and two divided The BANKS opposed TO
suspendInp were the Merchants Mechanics Blackstone
Canal, aod Traders The delegations from the Arcade
and City banks were dl7Ided.
I SMALL NOTES We learn from Inc Attorney gene
raj and his officers in Philadelphia, that the law against
! issuing ana circulating notes of less denomination
than five dollars. will be ryid!y enforced The public
seems not be fully aware that II IS IN the very teeth
of this law, to aud pay out The small notes o
! the neirhboring States. Whoever ioes 50, should be
informed TINT they incur The penalty Of five dollars for
each and every offence. This evil must be wholly era
dcated before The specie that is now boarded up Tor
speculation, will come out Nothing is wanting but TO
carry the law faithfully into execution, 10 insure album
dance Of specie 10 The people, Tor The ordinary business
! OF society The Banks must pay small CHECKS and five
dollar The public demand II. and Wi! not be
refused The specie in their vaults and in the hands
of the people, is amply sufficient for wants. why
then should shnpasers be encouraged; Let The efforts
of the Governor ard Attorney General be seconded by
the community; let q strenuous exertIon be made to
Danish snpasers and 10 retain specie. and all " III "
well Above al, keep cool-obscrpe tie laws, stand
! fm and The difficulties that now encompass US, will
vanish in another week
SHALL. rHE BANKS VIOLATE THE Lsw;-The appa
rent Impuuiy with which he Banks have been violating
the law, and their disregard OF The circular Of the 90
vernon and the Attorney General, in paying out notes
under FIVE dollars has led 10 Ike ejaculation by The com
! muri,- At tho head of ,h's paragraph" Shall the
| Banks violate the law: We gratifrd 10 raIn that
Messrs. Barton and Brook. in pursuance with the in
strucons OF The Attorney General will strictly pursue
their duty and as for in them lies proecihe laws from
any farther aggression BY the Banks. his be most
rigdIy relied upon by tie Banks well Us the comHiu
niy Their course Of conduct Will be farther developed
in the course of tomorrow. In The mean lime we pre-
diet that the Banks will cense the present Illegal Course
/ oil paying out small notes Phil Spirit of the Times.
ExcHASGE BANK OF VIRGINIA We regret TO state
that the Exchange Bank OF this place, has been com
PEELED suspend spec,e payments, which DID at lis
session Yesterday. The general bank law, in one OF It's
sections subject The parent bank and branches equally 10
Forfeiture in case any one branch shall suspend and,
the branch uf The Exchange Bank OF Richmond had
suspended there was subsequent forfeiture OF The
charters Of the parent institution and ITS branches-Ihs
another nnticommercal feature in the general bank
law. The failure Of single branch 90 sustain Itself,
however isolated and exposed, works forfeiture of The
charters Of the mother hank and branches II is like
hanging mother for The sins Of daughter who is OF
/ full ge and ought TO know how to behave herself
We must state howeve that it reflects great credit
upon the directors of the Exchange Bank Of THIS place,
that they held out long as possible and that they
gave way from no fault OF their own
The Portsmouth bra nch Of the Bank Of Virginia sas
pended yesterday -yNorfck Beacon, Oct H.
CHARLESTON, Oct Is.
Suspensions in Charleston We regret 10 perceive from
their address in columns, that most OF oar banks
have been constrained 10 follow the example OF the phi.
lad psa and Baltimore Banks and suspend specie pay
men,s II credtable however. TO our banking insli-
iutions that they have taken the lead IN such
but ha d,~ Ill ihay rnnld Ia uphold the Gre
dit oil the county, yielding only when competed 10 90
The principle Of self defence by The course OF like
institutions in other places. The Bank Of thc STATE ~
SDu Caroina and he Bank Of Charleston, have not yet
united the OF suspensIon and We trust that
community will, with one accord sustain them IN
! their present altitude C0urhtr
| City If Charston. Oct, IA. 1882
! Alta meeting Of The Committees from the Union
Bank, State Bank Bank Of South Carolina Louisville.
Cincinnati and Charleston Railroad Bank ind Planters
and Mechanics Bank, held this day, was resolved |"
recommend L. their several Boards tU suspend pecie
Payments forthwith. and that the following address 10 the
Public, he published in The several papers Of this city,
/ with the concurrence of the above named Banks
The several Boards having concurrcd III the recon-
me ndation of their Committees the Address is as iu
! lows:
Fellow Citizens: An unexamplrd crisis has arisen
threatening, II not timely provided for 10 bring upon
this community the greatest dlsess-t therefore be
comes The imperative, though painful duty, OF those
whose interest it is 10 watch the monetary concerns
and credit Of this State, TO adopt such
!. called for by the present emergency
! Your Committee feel the deep responsibility which
has devoived upon them and anxious justify To
the State, and 10 The world, the Of proceeding
which may be adopted on this occasion. They think IL
proper observe, that the Banks of this city have in
good faith Notwithstanding the extraordinary pressure
oil the times, puncualiy aud cheerully redeemed their
paper and, nt The same time afforded such accUmmo
daon 10 suffering community. as 1t was IN their power
to gve and they confidently believe, ,ut but tor events
altogether beyond their control, would have continued
To do so II is known 10 fellow cllizsns That the
Banks of Philadelphia, with the Bank Of the U. States
al their head, and the Banks of Baltimore, have sus
pended specie payments. which from necessity be
followed by those Of New York. and other commer.
cial ces. The effect would BE-, Of not prevened) to
draw for shipment abroad every dollar from the Banks
ni this city, without The power their part o repen
hng their Golfers, except at the most runous Sacrifices
involving for want of accommodation 10 the citizens,
every al all connected with the agricultural or com
rnercai concerns OF the country unparalleled distress
Your committee state the act that by the last steamers
since the suspension the cities before alluded TO- large
drafts and amounts have and are now waiting
10 know the result OF The proceedings oil this meeting
And your Committee believe that they val! in few
days be followed by many others, whose object is reck-
less speculation. regardless of the multiplied ills which
they hiring this With feelings, therefore,
| oil great pain and diei-- --i'-L ~, thy
consider an irresistible necessity, your Committee are
satisfied that the accompanying this address
adapted hy this meeting is the only step which could
| haze been taken sl this extraordinary lunclure.