Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-11-01


The New Orleans "Lousanion" of the 2ls, speaks of
The suspension Of "he Citizens Bank in the follow
ing terms: 1.-The C1izen's Bank has followed in the
train OF The United States Bank, and stopped payment
with some hundred thousand dollars Of government
funds IN her possession which she bound BY her con
tract TO pay in hard money What is be The result
We most sincerely pity The situation OF this honor
cd institution and deeply regret The necessity which has
compelled the worthy and respectable men who compose
her board oil direction, 10 adept me assure itch lie
wholly repugnant tn their feelings and their notions Of
right The suspension Of this bank under snch circnm
stances IS conclusive proof that the measure orcd
upon the directors by inevitable necessity further
convinces that they will leave nothing undone place
the institution in its former proud and honorable posi-
ton as soon possible. We are unwilling 10 look back
and yet The mind Involuntary recurs to the suspen.
sion Of 1887 when the financial condition Of the country
was much disastrous than il is at present-bu, the
Citizens Bank then stood erect and eminen, nm,d the
paper ruins that surrounded it, and Notwithstanding the
difficulties which pressed down The other banks conlin-
ued TO meet all ills obligations promptly if nothing
had happened. change has since over it Tor the
worse into which il is not our present business TO in
quire
The fact is, some Of our Banking institutions have
been conducted in wretched manncr-aDd none
much as, the Bank of the u. S. That has led the
way 10 the present suspenson.-But the whole system
requires thorough reform As Mr.. Buchanan declared
in the Senate of The 10 1887 during The previous
suspension every intelligent must cay now, with
more force than
The Banks, by theis refusal pay specie, have
vernments, They have forfeited their charters, and it
remains for the different Legislatures decide upon
what terms they shall be restored
1t will depend upon the wisdom and fmness Of these
Legislatures, whether we shall have sound piper cur
rency in time TO come, pFnporlIoned in amount to the
wants Of The people, and placing the banks themselves
in secure condition. whether shall again be
whelnrd with delnge OF paper money with all its at
tendaTt evils IL they will but specie basis for
paper circulation by prohibiting the issue Of bank
notes, at first under $40, a0d after. under 90 f they will
render the stockholders of banks personally Responsible
al least. Tor the amount Of which they may issue
if they will limit The dividends of the banks 10
able profit the investment of the stockholders; ii they
will require the banks 70 keep just proportion OF spe
Gle in their vaults, compared with their circulation and
deposes; and above ALL if they will adjust the whole
of Bank notes be Issued TO The of the
people, upon principles which have been sanctioned by
experience to prevent ruinous fluctuations in the
amount oil our currency; them indeed. The evils which
have suffered will be ompensated by The benefits we
destined 10 enjoy. But confess dread the result
We very strange people The lessons of experience
make but feeble impression on our minds We rise
with much buoyancy from mstortunes that when
they la passed away, they instantly forgotten
Should the banks resume specie payments before or
shortly after the next meeting OF State Legislatures
and the current begin 10 run smoothly again fear that
such changes will be made in The existing bank char
ters, and that must await the event Of another crisis
which ,c0uid then be iucritdbie
II has happened-but will it happen in VAIN Will
not every sagacinus Patriot hmsei-put his shout
Of the came calamity. Rrform-a thorough teform is
the only remedy which ought to seek. We have
tried paliatves long enough
The n. York E Post ridcules the Manifesto of The
ephia Banks "a wretched dsamme ring apollo
gy Ii says the United States Bank and followers
had managed their affairs with half the prudence which
the New York banks have DONE they might have avoid
ed the embarrassmeRts in which they have entangled
themselves and thousands Of merchants IL they had
absained from engaging in cotton specualioDs, which
act OF bad faith and abuse of their privileges
if they bad risked and lost their capital in vast
loans 10 sprculaors like the loan Judge Hitchcock
Of Mobile, who borrowed SS0U O00 fitch part Of the
whole capital of the Bank Of the S and resisted its
repay The plea of usury-if by judic"usly dim-
nishng heir transactions, they had admonshed their
customers 10 contract their business, s order TO meet
the approaching and ineviahe change Of lmes-if they
had not entanged their affairs with those Of the South
western banks and encouraged those wfelched nstu
lions to plunge deeper into the gulf Of bankuptcyf
they had absiained from The folly Of attempting, by
Of post notes 10 extend their TONS already
too far extended, they would have found il easy
tinue The fulhment Of their engagements"
.Ntio Orleans has shown her generous feelings by
transmitting than $4,000 TO Mobile for the relief OF
the sufferers by fire.. She herself hns been threatened
by endares Two persons have been arrested the
18th in the Of setting fire 10 houses in the I'd mnni
cipali,y-one Of whom calls himself doctor But N
Orleans is on te alert, organizing guards night PATROLS
&c, &c.
Another attempt has been made 10 fire latehf. during
the day, whilst most OF the citizens at dinner; but
The population instantly on the spot, the ringing
Of The alarm bell, aud The flames were exlnguished.
In Charleston. fire broke out last week in the steam
mill owned by Mr. Jugnot, nearly opposite the lerm-
nation Of State Street The mill reduced TO ashes
along with the large grocery occupied by MIR. fhane
the Eas. Of Anson and Market Streets This
building together with two smaller were successfully
blown up they caoGht, and by this means and the
great exertons OF the Fire Companies the mischief
limited 10 this Had the wind blown many othrr
direction, The destruction would probably have been
L,.ll Aa.,. Cd alto
geiher six all of wood and with the exception Of HE
corner building, OF uncomfortable value"
FOR THE ENQUIRER.
Remarks .Hr HIM Rues Speech at The Louisa Dinner
DEDICATED 10 the Republicans Of Pi,ginia mo III
In my las, number have generally made use OF the
third person when speaking of Mr. Rires; now, how
ever prefer 10 address myself 10 hun directly and at
Which in an elaborate deftnce which has taken its
thor several broach and peparea uindtcatton
OF his pas, political which doubtless intend
ed by him unansuera6s reply 10 all the charges
which have been brought against him when in such
document say, find not only the most contempt
BILE srphstry but total perversion and nisrepesena
ton Of the prominent facts and recent occurrences,
what shall think of such defence, its author and The
/. innocence of the accused I?
Federalism like many other evil things, undergoes no
material changes from the lapse of years Ii has. be-
SIDES sorne characers dee ply interviewer with lis
composition, that they have in instance been de.
parted from by its sotares Hypocrisy, SANDER and
scrupuous lying, The chief pillars which have sus
tanned Federal mposture from The days OF the elder
Adams to And indeed, it seems to have been
decreed that while Federalism TO be endowed with
the admirable faculty Of casting Oft old, and readily
adopting new nams still that il should continue 10
be in substance The deadly enemy to Repubcanism
and the Rights Of However, it has one attribute,
perhaps, mnre prominent than the rest OF course al
ude 10 The propensity which il has always manifested OF
raising false alarms, that by keeping public opinion in
stale OF excitement and in apprehension OF ina
ginary dangers it may the better iyrannIse and hold The
mystery over the people In by gone days, when Alien
and Sed,ion Laws were let loose upon us--when The
freedom of the Press invaded, ADD the purity of the
Constitution itself was violated, what pret'zt did Frde
ralism then employ 10 haow and justify these t'eacher
GUS encroachmpns? Why, base faisehoOds were pro