Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-11-04
THE. SUSPENSION.

The n. lnIelgcnccr has repubIished ridiculous
article from IA Virginia paper, asking why do no,
apply the same language 10 the Bank 81 Jiroiaia
as we do TO the Peuns ,lsania Bank of the L. 81 l..
there no difference in the cases. Messieurs Whs
beean the suspcn>ion-lhe Bank of Virginia or the
Bank OF the u. States Who pressed the Others IN.
10 II j! Was it the b. al Va.l Which of these
institutions 1t, that by the gross abuse ois enor-
nous power, dragged not only the Bank OF Virginia
but so many Other institutions with H. INTO the ,or-
tex ol suspension! Ricimond Enquirer.
CO. The ridiculous mticc' referred to by the
Enquirer copied from this paper. But We
think is very easy show that the term applca
BILE 10 the Enqurei's paragraph, and not ours
unless, indeed, the ciimnalty of depends,
moi upon lis intrinsic qualities, but upon tie order
of time in which ii occurs. When the Virginia
Bank chartered, did ii ever erter into tie con
temptation Of hc Legislature, that lis right TO sus-
pend specie payments To be made dependent
upon The action of The L. S. Bank of Penns ylvana
II II did, heu Il defence us by the Enquirer
Dir. Biochenb,ough's Bank is in,pree enable: other
wise, il vi" not hold water. II A steals BIS pocket
book, docs that justify similar depreciation by d
upon But We deny that the L. S. Bank "be-
gun tile suspension, OF that it dragged" the Viz
clnla Bauh " into the vortex" The ThiRadelpi4
BdnhS "besan' the suspension. Why does tho
Enquirer separate the L. $. Bank from lis asso-
GATES IN the act, and hold it up in Lold relicl 10
II II alone were responsible Iof this polIcyl Why does
1t moi deal Out its auath, against the other Banks
oiihat city, which concured With the L. S. L, nk in
counsel and in action The reason is obvious
to the most superficial observer. It's object is to
keep up tie false idea that that Bank Is identical
with National Bank-,l,at u National Bank
he Al, IL al.
the remedy proposed by the Wings fl The
disordeted currency brought upon By the couu-
Try by the Experiments OF the Administrator,
so Far l,om curing, will actually aggrayalc the maa
dy. II is our object, The other hand, To show the
fact that the present L. S. Bank is a State psiu-
ton, and has not the power il it had the WILL to act
asa great regulator of the blnking system, and
to check MS tendency, when unrcstr ,ned by con-
trolling central head, TO run into wild aud tunots
excess.
Bank which first suspends is more criminal
than Others that follow its example. 1t is presuma-
BILE that all are aciualed by the same moliyc-seI-
preservation; and that none would resort 20 this eN-
ueme measure, except under the pressure Of stern
necessity DIR. Bro,lcnbrouyh's Bank suspend
ed because ii apprelended drain of all the specie IN
its vaults, by Northern banks and brokers' if it kept
Them open aud the L. S. Bank suspended because
1t apprehended similar drain Fl ON New York aud
England TO meet The foreign demand for the pre-
cious metals, occasonod by debt abroad. Boll
we've influenced by the same motivc-lhc L. :
banh and MS associates IN Philadelphia were Tue
inst 10 resort TO tins measure Of p,ccaulion be
cause they would have been The first 10 meet the
stock, aud 10 fall victims 10 its violence. II others
followed the example, II only shows that they, toe,
however prudenty they have been managed, were
not strong enough TO encounter the storm hch they
saw approaching.
The Enquirer is in an nncnviablc rredc mint. be-
tween lis hoslili, to the u. S. Bank aud lis aIrgI-
ance 10 the Bank of Virginia. No blow aimed
the former can fall to silkc the lattsr with cqnh
'o'ce and however il may ilallcf ilsell HAT II ca"
deal IT'S dcalll-siIokes AT the one with ut il il'cWE
wound upon the nlhcr. will see in The result, as
II might already perceive il II would wal.h The s'shS
OF the times lhal our Virginia iustlut Gus viii reel
II they do not fall, under tie assaults which ~ -
making upon the institutions If another Stale IL
wfeic he'd party purposes
u William Pennington tWig) has been reelected u"-
vernon OF New jersey, and Joseph c. ihHulloNfr w.
[ hof lustiee.-both without opposition.