Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-01-17
Richmond, Thursday, Jan. ~.
IIlI [ RHIS

,yo oIuavs read the Editorials Of the y. Y. Evening
Pos, with great pleasure As Poet, Mr. Bryants re-
imitation stands among the hrst perhaps lie hrst ~ he
rca As writer, he is always agresane' a"n eI"rH'
HE conce p,ions-s sometimes perhaps n tHhe Efra ne
Post is the devoted advocate OF the Free EHH6iH2 oyS'
t,,n- which begins To occupy 80 much OF tie AFTERNOON
or the other States But Saturday last II goes s'cp
further Il reprobaes with great frce and prnpreiy the
nresent attempt in the Legislature to repeal totally
The prohilion to issue small bills. 1t declares, mat
sWhen member of the Legislature, (Mf Sknner'y
who calls himself Democrat stands up and asks hal
tho law bch Restraints the chartered banks from ISSUING
small notes. one Of The few Democratic laws winch nave
p,ssed for some years shall be struck from The statute
book he deserves 10 Ge Kissed from the party whose
name he impudenily assumes
IL saws g" graluUus assertion 10 say that the peo'
nile are in vor of small notes The people are IN avor
nr convenient specie currency and they kno" ihat I
heller soundrr, saIer more Convenient small currency
nno be had Than they were in possession g." IN lc%o'
efnre the suspension u specie payments NY me BANKS
III currtnry CfguarT d0tarS and smaller SHrcr
,;us No dissatisfaction then expressed with tins
currency-no complaints were heard OF Inc want OF
small change It is asked that this law Uhe sus.
pension law) should he rxtendPd ihat lie pr"honh ni
small notes by chartered banks shall be Internationally
repealed and that the small currency OF 1876 should be
excluded for ever.
S, far. so GOOD But the Evening Post terminates
lis article with the following ultra proposition:
Sin opposing the repeal OF the law against small notes
we urgc nothing inconsistent with Tie principles OF free
b,nkiJr The moment the restrictions which ale now
placed on the business Of banks removed and the
better and more powerful check at unbounded compe'
,nn substituted as the most cfrCtual preventive OF
excessive issues shall be in favor of removing all
restraint on the issue of small notes far relates TO
Individuals To corporate banks, erected as they are
upo1 false sysleni, would not extend the repeal
That is to saw begin with Free Banks and terminate
in shin-pasters: Let every man or association of men
establish as many banks they please. under the law OF
New York and then let them have the power ot deug
ing society with whatever notes they please TO ISSUE
from So down to the smallest silver coins The pr"po.
siiiun is calculated 10 s,arc the boldest mind VIVA,
would be the consequence We saw it tried during the
late war; as well on smaller scale during the recent
suspension of the Banks II less the age OF
Shin .pasers Coins superseded by paper Of diff
eren descriptions and hucluating values So general
circulation Of paper, Of the smallest sizes is calculated
drive The metals into retirement and frequently out OF
the counry-and thus to dry up that reservoir which is
so necessary TO supply the Banks with coin, when run
is made uron them There should be some Limitation
To the system. viii The Evening Post next contend
that every capitalist association Of men should be per-
nitlc 10 their gold and silver to establish
their own weights and measures, We .:e much the
friends Of wise innovation as any one We have as
much reverence for the doctrine OF Free Trade, as Adam
Smith or MIR. Turgot hmself-but there must be
tain standards OF coins, money, weights and measures
which be less regulated by sncIey at large
Give individuals the right Ia establish Banks OF Discount
and Deposc-Renouncc also, if you please, those shac-
kIcs Of the usury law, which prevent them from rrcev
ng much for their money, the free competition be
tween the supply and the demand would obtain-But
Banks of Circulation another affair and sill more
Banks which would be permitted 10 deluse society with
Iot, of sluullsteIs.