Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-07-12

no ntuccmcnt ir them divert The resources Of ~ Oe
institutions from the natural channels which H.
ought 10 flow; hence, they would not dream Of ma.
them aud keep ttoal imprnGen, aLd graspino g..
culations, winch otherwise must b. slinnG,d und b,,.
up 1t will be urged as On oi jectlun, that under ,t
system the ascendant political party oud in each ST.
hold the purse.sinncs; but ersve permission 10 ,.
To that objection by asking IN whose custody could l
purse Strings be soirly drp"srd, Than 10 that ~
mojnl,y The pr cpI.; winch majority, ,y,iy i,o
country, constitutes the Government for The time l+r,
If the right life liberty and property 10 ,I,
people. in short seli-gOvrrnment aud on Ibis SIDE IL.
Atlantic the poprieiy az so doing is only den-d hv M,
Federal leaders, why are they not quite capate ,f
conducting. through the medium oi agents chosen by
themselves their own fiscal concerns just as pruter,,
AZ they nnv do the dulles Of The legislative eSpcn,,
and Ministerial departments: Lei the manner Of pr,
pointing State Bank Directors be such az 10 Gst,a =,
sporsbiihy upon the appointing power, wrlasuuop
The themselves holding The latter also s,Ir,v
lr for any breach OF their duty in the ,ru.,
fdpd than. aIy lille IL the bus;ess Of the tsrg,
will be transacted openly, fairly, and probably Tia,
improper persnns viii occasionally find their way nro
The directory, it would be foolish 10 deny, and Impossible
TO guard against but they would soon BE- lGundu out ,t
hen know either dismiss from rice pf!.e
authority. Neither eau suppose, that nrre ta.lG,,
relations, mi ns,ice would BE- done 10 pcca! nppureu.
have an abiding faith 10 the manly Gprghnrss a,S
sober sense Of The great body OF the American peo,
which forbds my asserting 10 the Federal chsrp. ms,
popular appointments. that il, by the people, arr aim ,
invariably bad, and effected by intrigue and corrnp,,,
well convinced, however, that there ia ~,
oil undue partiaes being cnuE,eHaDc.d arIuny d,r,c
tors chosen by, aud responsible TO- the ppupr Than
they were The nominees ot the mnneyrd airstvcrary
In fact We have a fair Illustration of this cocun. i, ,a
cunduct o sheritfs, who, ey cfci6 have tar mere in
their power 10 commit Oppressive acts, than drer
tors Sher!s IN many .! the old and IN all Of he u.g
States elect; by the people, III cI-csus ,r
The party lines are strongly drasn and the votes sIy.n
party grounds; but do that The office Is made
| subservi.n 10 party vewa, employed 10 annoy and
/ Cypress political opponents: No. And If any sheriff
under the cloak Of his official station were 10 visl. In,
political dIskes grievances, those who imposed
his election, he would he eimed by burs, q no.
nest Indignation from his own political hrelhrrn.
The urgent necessity that exists for the alc nimer,
which would empower and REQUIRE Congress 10 yrohrpE
.hr issue Of all bank under CERTAIN Denomination
will scarcely be cnntroyerpd by any intelligent p,ron
who has travelled through dt rent clIUDs u III. Unn
There cannotbe sound paper currency, unless auho
ritz is vested IN The national Legislature 10 pass Law
tina, description; without il, the precious metals w b.
caught up, and not allowed 10 circulate freely Though
! the community
I Il is The immense gain which corporarors rc:l.
from the loss destruction Of their small notes,
renders them prr'inaciousy persevetimg IN sending
them nrih. Probably, one-itnih part OF all the n".
under So that issued BY bank, is never presented
for payment al its counter i feel confident that eyen
the ordinary wear and tear IN passing from hard 20
/ hand, will leave them scarcely egto!e Al The END Il
one year from the day which they fret ioI,l
ed on the community. The loss uf the farmer ne
4 chaBc or other citizen, is the legitimate profit OF tie
! cnrporator!! Ills hOGrd increases exactly in tie
ratio that The hon. ST earnings Of the others diminish Is
il Time that should shy stop! 10 those who have
long been thus preyIng upon vs.: We have tue right;
we have the power; shall not aoate the nuisance
establish healthy circulating medium Of unHers. ant
unvaryng value not liable Ia be swept away by p,.
! of wind, destroyed by the faring 81 candle: In
less make this STEP, every other reform IN oar cneH
CIV will b. lame and Intellectual. l-t US ahnvr a!. nj
BE- obsnatey welded To mere mater OF detail but In:
se0Jfasts The main question. For my part, peter
that We have Bank note under fifty or ore huHtrt
dollars but, will Iiuy concede my wishes 10 h";'
| cf Others who would start Wth FIVE dollars Er,n ihoush
we trayel sowy lrl us begin our journey aud &epPre
! on, never once turning back. am no prophet. get
make bald 10 pr0phesy that II such an anrnomeh sh'i
be made 10 the Constitution, as VIII ndtr lie
! duty nf Congress 10 specify the denomination 90 ne
smallest Description of that be ISSUED by IsnE
in very short period after It's enactment there ~hora
general den quotation of nv,s under $40 and crnnHdy
increasing trsre 10 do away with the use OF paper IN
| all The smaller and ordinary transactions 81 NE Ia
deed should We once succeed in freeing ourselves t0a
the angs of present bank coTpnraVrs they having 10
longer direct interest IN the existence u The sun-r,
would TO urge its continuance ana The p'0Ps 50
soon as they understand the matter will no, be c!rt
10 practice fraud themselves. is II ~" s'a"g'
| and ~ m American Illuminating fact, that IN y. i"'H
1.-The Qnten City, IT'S Inhabitants pleased I" s'
it, stranger is frequently obliged 10 90 nom store 10
store, he procure specie change for I've c0i
There remains other topic Tor considerations as %
the proposed system Of State banks Is II feasible: t'h
the different Sales feet by the creation Of State stocks
loans Of sufficient amount 10 furnish Tie necessary me-
lac banking capital: vi that, nave n" i'Hr. !i"'
if there were such large hurihrr Of ioini s'ia
| banks il might be questionable WHETHER The nqa>s
specific funds could be had bull things stat 60
no difficulty in the way In the first place any ptn''
amendment 10 The Constitution OF The Z > VIM
! right il ought undergo long, deliberate and safcH
ing scrutiny brfmre the people lis different 5ra'as
il probable practical operation, will be fairly ratd y
and it Will not he until The arguments p'o aud cnn'
been exhausted that even It's ~urnest adv"cse "oH :
dssire 10 II drhnI,ITey acted up"n IN lhp hr'"
time if the plan is favoraby received. and nhIr u"
! present corporations will be gradually dropping "n ny
their demise, large will be let loose, ard sac
ves,mPns eagerly sought for The n. None VIII ohofd
better security than SInte stocks crraed With view 20
raise capital upon which 10 bank. How public opIaIa'
will ultimately settle down, will be ,h long bsi"'e
Judgment shall be formally pronounced u hr st'''
nehts arly to prevail. those Sta rs when aF III
favor Of their passage, VIII make arrange ntns !" WV
the coming change and eventually the tG:sirf ct ca
prnl viii proceed easily and quietly as scarcely ose
| perceived by casual observer.
Let not he say2osej from any Thing here said, mai
saeRy OF wealth, or cherish hostility n""id
mercantile interest erprsssly deny and rrruaia's I'VE
truth Of snch inference; The contrary WISH
! wealth protected and commercial enterprise SUSTAIN
and advanced. BY The law rs The land ln"S pom
TO he equally true Of The body polite. IA u IS VI ihr 10
man body, that no single mraber OF can long eN''C
diseased without hr infection sprfsding over I'VE e'
frame, weakening rs energies and al lrnath destroy!
the vital pouprs Themselves. The arMing mechanc'
and commercial interests of country ore InsrPash
bound together for good os III; oas cannot af""7 OF +"
NEGLECTED without ha injury extending 10 the Others -
II is the healthy and furnishing condition n' zach "h''
when added up, makes the os national rrnsPer!-
giving strength and greatness TO he Republic. o.
however protest, in Government oil numbeTs aEaf's
raetiuna par, usurping itself powers and funeiF:
which of right belong TO- and should only be exeCs
b. the great nhots for The general ne"rs. have nor
snughi explain what j, occurred 10 might be :"rrd
specific for present financial arrangements St'
! lead 10 the introduction vf suuDdtr currency.
II may possibly be escerlsnrd on investigation, fh
in this, in many other instances, The pr9schPH"
would only sggrava,e The old disease, produce enc
! Their and more fatal one BE il 81! have al a.
events honestly thought, what have bat ctnd'Iy ff