Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-09-03

49,, onoun, ot The fr"s,'"e ci"r. Ia '," "a, un i.''
L nv granting facilities 4" Southern oa"Rs, ihauc' " "
- nk. adv, ncps cotton, and ship large portion ~
!, ~ his son hous. in Liverpool which could more
frc,uaily enable him control the cotton nsthe' ""u
carry on, the principles of monopoly when 'ae 80"
str. Ell bankers had successfully maintained 'o 'e
orr years in the -four lrade. But all hl"hoP"'es u
b. maintained hy extending The sphere OF their "P'ia
lions, Hlr Bdfle found it necessary 10 s'fr"e 90
Southern banks which had. as his inaitec' "g "'r
died the planters out of their cation, 10 W
Liverpool al their expense, WINE ufy WIZ 49,,
ia receive depreciad and d prrcint'ng paper ' ' :,
labor These banks had lost their character, iheil pau
had falle % ppr cent below par 10 ID" sumner u TO-
and il wns sen a, once that they could not 'b"'n con
troll &C The last crop unless ry ""u'u RESUME 'r'N
ma, m MS and rails. rrr value :" iheir pnPer'
III l., ,ha.o circumstances foreign capitalists "huo
hnv. ck. 10 the Snuh and purchased 'hp c"''o"
n fair mr. ,ce mud ihus by 'hr"wl'g II 'hl" ur ''i
marks, woud hive Compelled MIR Bdde TO q" ne sa'ie
or borrow money ard r!sk the MARKET an"'.er Ia
c,,d,n,lv Mr. Bidde IN August ard Stp'' norf ic"o'
c,u nc.d r. build,nu The Southern banks mat hao IN
o,g.d !, The Gotten rrd AID hp purchased he o"nIs
Of others To enable them 10 90 IN" prfa'"n' a' "
cnn,,,,s ,hp cotton muanp"y. Tie an" "" W n W.
,.,,,n ,s.ocn,.s IN Philadelphia principally the OH
cor, nf N. Grntd Bark. commenced the purchase o.,
Sal. .rd bnnk bonds. and IN one week iiry inVse"
ah,, ton millions in he STATE of Mississippi rive
m,l.,nns Of this money. on treaR were os''io"o 's
four insnlv, banks at n"nina interest VI per
he ,pedt
The.ebapks were ihet 'onnercisi end hailroao Dunn
nc yicksburp lhr Plant the Agricultural ano on,
n,ercsl Bark of Match z, The former has nsnfn sosPeh
sd and il il h. Iev. that not one "i thrm can no" 'y
the iners st, much g The hst lnt'a NJ ~"e
Eeve i due about this time Besides, the Agricultural
and rbe Planters Bark'i Nachtz owe Tie req RAJ ''o
yrrnment nearly million al dnafs ana me "''.'"
enl owe il The people To io'cr It's c"ilec''"n "u
thai extent al least ahdle thu F"wer al fhe "nPic'
n,.d sn, cuia,ors In purchasing The bonds OF lh's'
and hIs
pe,spnal intuc. M nts They had purchased 90 'n
uepse omnur, nf their NOTES al t~eniyeiaht pt 1'
AID ~ hs H Es eTH btaks doubt
furfishcd The funds To purchase inns alissssipP o
vet the ockboIders We opine received no Pof"o" u
the profits
II HI other FIVE millions invested IN hiissss'pp
SIM. r, nds 10 establish rhr Union Bank at jackson
and IN one month this new institution was t""dlnE 'ie
country with post notes and ~as t"ind a,so III me Gu,
Ion trade advancing Sky dollars bale ny mas h"'n
ing back the crop Mr. Bddle might he enabi'd !" tpai
z- large profit The coilnn OF 1887 and 1885 "h'ch
he had ,ur>,rast d; md in The mean The planters "i
The South would hP lett To bear IN. whit 81 'hr JOSS
thal might result from falling market, arr 'he mon"
pnly had become too heavy for the credit system ana me
gambling 9, stem to sustain it any longer Welt ms
Union Hank prnstra-: though not year IN np-
rnilnn nd commencing with five millions ot capital IT'S
paper will not now sell for srrrny five CENTS on The Col
lar, even WHEN bearing FIVE PER crut interest
1.-The bonds on hich ,h's hank was established now
ursnld The NEG!ls ol udNh w
street. pu, Into market, would not bring twenty cents
on The dollars . -
ain kansas. Alabama. Georgia. end New Orleans,
the Sam system. resorfd 10, end now we nave us
glorious rrsu,s in PhIlsde phIa and Ne" i"fk. IN
DO kers mud Spectators have bren disappointed w h'
oe,,,ru returns from their Southern cnadJuors the &c
ton al the great mammoth OF England has i"'ceo col
ton into ket and duced lis pice from the m"h"p"-
Nv standard and 10 make up The money 10 Keep '"e
Gu.td Bank, The Unr d Srn,es' Bank ct PennsyIra.
niiht Snur
spun susrpndrng the h"rs dealer and the regular nrf
chan, ar c. mrrlled throw their paper into market
ond sacrifice from Two 10 two snd q hail per cent
month 10 main ain their cred aud carry On she nusi
these nre The beautiful effects Of The WING credit
system: and 40 long me man, or one hundred men,
either in ChesnGt street, Wa street. or lhreadneedle
street, can make money plenty scarce al hbnm, me
Industry 1t The honest merchant, the labor
r. M cha mic ard farmer for years will be swept away
in single storm pruducr by huse desperate and dspi.
cable paper aon~y gamblers, Wnhn the last three
months many have bren compelled 10 sacrhce me
labor nf wears They have been suddenly denied their
usual bark facilities and no" they pay two aid bali
per cent per month pr vent tn hanks from bursting
aud the spectators from again blowing up
Trr R,xr OF vIcKsBrKo This precious humbug
has at last, atilr spurrng .'iis brief hour upon -
nunral stage Of III country. exploded Ike BOILER Ut
,rnln and The airy n"htrg haF gone n IN ,mprrcrp''.
ble vnrnr Us hne sr"ld IL The following extract
,n, ilp Wick shutg Sentinel and strongly illustrates The
b"au'rs # the barking system winch mas "o'antn III
that state: Ba.tmrrc f"St
This Bank commenced operations 10 December.
1897 or rather h,r ST. ok subscribed IN hat month;
she wen, into he issue Of her paper in the spring Ut
1e?S Her h,rna id, cnprnl all "ld sm'un'ed prPcl"tp
sum 81 81 10 in silver and one gold eaeiS making
Sl2n a few o, The leading officers OF TIE haiif"Ho
Bank nh The aid ~ their Texan loan Srcnt quo GEM
mission merchant in New ORLEANS succerfedin getting
500 con "a, % III Canal Bank If NV Orleans which
was paving sprcie order take the stock III the Bark
of Vrcksbnrg Th,sa Cann Bank notes were guaran.
tspd be returned IN short tune. md 'f't were =" ~
turned Ia the Bark 10 which they 1"reed -lhe ha'k
oil ycksburg he cnrnrrpncsd lo"d The country wlh
most notes PAYABLE in I2 months. nd II exchange Tor
thpsp notes she obtained cnnr" al our planters cotton
The NOES Of depr'catrd. ard have since only
b. worth ahnu ~ to CENTS IN the dollar. But me
Bank having pol control Il tie cotton che drew IN u,
ard with these Nnrihrrn unds lchrd one Of her
directors Louisville, Cincinnati DC Hi'h sou MO 10
pure base produce pork lard haggng. al bale rope for
the Bark all of which placed in the bands ut DIT
fren merchants in Mississippi and New Orleans, 10 BE-
sold al he hghesl prices rating her paper nmcnG
the loves, river money. with this large amount #
funds the sssn ras, The price OF provisions, &c in
Kentucky and Ohin IN lew days I" ~ pr cent and "f
course This increase in price repaid hy the people of
Mississippi Al these facts were Disclosed at ihr rSa
mrn,i, by The Bark Commissioners, and may be found
in their report.
Bt,hr balance Of The history Of this hank is still more
interesting ius'a'ina The injustice and outrage nf The
system in'hEh me banR lew mnhhS '''fl sir chhi'
menced or SI2n r"ral. as able 10 begin The produce
bnsin, WITH Sn ITO capital, Vet when her first batch
Of post tecau. du. Inst March she refused 10
deem the m and The holrtrs mperd IN lake other
pms, notes ni ,r Rarrsd pay ahe The expiration oi
another year. Now The Railroad Bank has fail! d. and
the planter mechanics and Others who hold these pro
misses IN pny. will perhaps have 10 sell them In some Of
the Bank agents n, 81 per cent discount, what
ever they will command in ma'ket. hare statement
81 The fnc's Of this s enough 10 excite The hns ol
shame the clsrk of all who feel FIR The honor, tn
interest cr The Happiness oi The State In any OH
State il Rond arouse a Storm that would soon demoIish
the ful system
MISSISSIPPI BASR--The following interesting inel'i-
eence relative 10 the progress nf Barking in mississippi
is c, nmnnIca,ed by john Crusoe, ESQ., candidate o'