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

The address the part Of The Phadelphia Banks in
defence OF their presen, attitude, is drcumenthy no
calculated TO attract attention. and the little effect
which i, huse will be of the kind a, %h,ch II
aims; 80 that the whsle lhe publication can scarcely
be regarded as jndicous proceeding The matter is
already well understood by the public al large, and 1t
would have been better 10 submit the Tor verdict
without further words 81 paaon rather than have put
forth paper which carries strength with ii.-1ae
Address throws light upon The past and makes noal
lusun to the future. AS 10 all matters OF Importance, u
leaves just where were before the whole amount
OF the paper being repetition ol mcnis already worn
threadbare that The resumption of 1888 premature,
and that the suspension OF l9 ceseary c"use-
quence ltmay haps be admitted tha both suspe nsons
were necessary consequences-notho however Of the una
voldable nature OF things some persons conend-out
consequences Of vicious banking while ,sevt
dent that The greater part of the facts urged in The Ad
dress for The last catastrophe actually
brought abou, by the Of some OF the very insitn
tons which plead them Justification Ii such argu
ments as these be admitted Sufficiently satisfactory
the public mipd-f before aud after suspension
we may pursue such a course makes pno.Eer una.
voidable-we shall revulve IN the short circle OF
hollow prosperity and tue disaster forever.
blunder is less bundes because it is presented
10 The view Of the public with soened features, and 1t
the resumption Of 1888. had "deusve appearance,
causing the Banks xpand and puff The paper balloon
Of general extravaganza and speculaon easy to see
where the faul, es. II the course OF conduct which
followed largely ased foreign debt ss I" bring
upon drain for the pre- cous metals this is no, to be
should be sober resumption and mol mad and immedi
ate to the very practices which compelled the
suspension, snd which extensively carried on
during The last year. that cool observers abroad predicted
almost 10 the very moment tie evils which have ialen
upon u.s.
Every argument urged in the Bank Address if does
not initiate directly against The purposes OF the paper
goes shew the imperative necessity 81 reform that
may protect the public and ccnfne such institutions 1"
their legitimate business In this point Of view perhaps
il may be worthy of notice; bu, otherwise appears, TO
US at least, to amount. to little or nothing
IPennsulraninn.
The petext set up, that The failure TO send bills Of
ladng Of cotton with The bills drawn for money The
Hollinguers, the cause of The Bank failure IN Eu
rope like the rest Of the late shutting OF our great
Regulator We know pcsiticey, and state the best
suhori,y that the HongUers had refused accept The
bills Of The Be nix before they were drawn ltry IN
formed ve Bank OF this determination by letter The re-
eeipt Of which was acknowledged, and yet IL drew,
without sKplaaation, tor the vast amounts prolesto
MIR J.udon has since offered The Rohschlds Ito make
whole those who have been imposed on by these es
the choice of all ills stocks and means ia remuneration
The Eol!schlds looking into The soundness OF the
bargain offered them, and hence the delay 10 make
them safe the Of indemnify to creditors In The
United States will be lost -GlD6e
DIFFICULT TO PLEASE.
Some Of the wing presses, ia their subscriptions
course assail the Administration constantly, however
unccssing may be its efforts far The Laws permit
to obee the community, and protect the banks from any
II the Treasury Department or lis ofhcers leave mo-
ney in deposte with banks till wanted and do not at
once and unnecessarily Withdraw the whole in specie
it 10 charged by the sels,yed friends Of banking nsli
tuons as favoritsm to those banks and 10 srenuousy
commended TO be unawul.-(See The National Gazette
aud United States Gazette as TO depostes in New York
II that Department, its officers withdraw II. depo
sites from banks, when needed to pay current expenses
and redeem Treasury notes, it is reprosched by the
boasted friends Of law ond decency with attempts 10
weaken those institutions and ii 10 eliminated with h"s
tility TO ,hem-See the National Gnzelte, and w. States
Gazette, as to deposites in Philadelphia
If drafts were given by the Department, on collectors
who have their deposi,es in banks, and specie 10 de-
manded from the banks TO pay the public creditors in
legal currency. the &C, is denounced by those demand
ing spece Of the Government as Sub,reasuy specie
Of wanon oppression. and the agents concerned in II
are held up 4, objects for public scorn These rea.
and ruy gu, spec,e.-Isse New fsven papers aud New