Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-10-29
Ito be continued }
{From tie Harrisburg RcYoJtsr, o.

No DIVIDENDS The lunoameEtai pflicipe VI ai
banking Pennsy vnnn that these sal!
pay ali their notes and obligations IN gold and SILVER
Such is the law and they Go no! pay their DEBTS us
common and common honesty hlSo, 'hat 'hty
should husband all their resources Tor Their creaiIos
who are the people OF PenRsylgana ana not attempt to
divide mscaled profits, when hey cannot nnd viii mol
pay their own engagements.
No corporation can have profits who canno, and dvss
not paw debts II therefore The luw that NJ oivl
bends shall be declared paid By bank. so long as
continues no, to pay IFS debts For giving Creditor
OF your notes in place OF another Is not pay
ment bat mockery OF payment TINS law IS ais"
good and wise Law II obi g4s The stockholders 10 look
into their cancerns;u prick up their directors
and force them steady course OF re'renchmen and
preparation for q speedy resumption: and IL sewers
the combination Of BANKS, and induces each one 10 r
sumo according is ability without respect TO the s.!
vency insolvency q others IS ne only recipe Jor
an earnes. and guick resumption
This fully tried IN ieia.i"n to the New letk
Banks in 1887. BY The suspension 3r%s OF aay -3I
%as sHSfsa a5 Pc ST5 81 is
any pers"n fer them any doidsnd tmteres, Ps
1ohotersr until 1t shall tie payment Of rs nctss
and Evidences q G.J. n SPECIE Tins enactment Sc
cured The obrctor before The close Of the yeas lnsd
for resumption, the New York Banks, IN defiance Of
MIR Btdle aud The hank oil The United States. and Their
threats Of destructnn resumed specie payments, and
have :coh,inaed ,ic; 10 the present une Let US do
the thing and The result wI!! looT as sure
the will rise tomorrow.
OF The crying injustice Of the other plan, we have q
most striking example during Gov Riucrs disastrous
reign. The Bank Of the U. s curing the las, susren
sion, made fire half yeaJly dirdends eour per cent EACH
equal in the whole to SEVEN MILLIONS OF Dol.
LARS, and this they called PROFITS and paid 10 their
stockholders whilst they would not pay one dollar to
their creditors The people Stll pore-a least one halt
OF the stock owned in Europe-aad of course one
half Of this asaoun 50 500 co., sent in gold and
silver Europe pay the English nobility whIs, this
British bank would n, degn TO give single dollar IN
specie 10 the l;er and aechanc IN Pennsy that
held its notes.
ls;t ,Ir.; cba ,d hppn q
divide, that her stockholders here and abroad, wouG
have forced her 10 without delay, ana HAT she
could have made her most uno1s sPecuio'ions IN
cotton with her specie notes or have loaned
her nir:,-y her credit, The worthless paper Banks
OF Mississippi, which have reduced ncr 70 resf nj
state OF bankruptcy, Ihere0re some tanks IN Phtadd
Phia aehich could not tuen Jrayng specie, make dst
6end toltou birding Mtr cdpttn and not ht'r p1cfS
No SMALL NOTES AND no pIrIpEHps We observe
with pleasure that the Pennsy lvaninn agrees en,I-y
with The subject OF excluding oil notes under hive
dollars and Of prohibiting all dividends by The banks d.
ring the continuance OF The suspension We 90 mol look
for truth goud advice from Conservative papers OF
Conservative meetings at this time The Wigs and
Consev aliyes sometimes pretend to be with The Demo
cratic party when iumphan;y victorious now, but II
is simply 10 obtain by management and caJolery, what
they get by open and bold demand We ia We
confidence in their paid agents We are with the
people, only against all notes under five dollars no"
and forever but in favor OF Cen JarksOn remedy The
abolition Of all FIVE dollar and len dollar notes, 50 as TO
secure specie circulation under twenty dollars for The
farmers, mechanics and operatives OF Psnnsylranin.
1t is axiom in political economy, that it all notes
are excluded Of the lower denominations specie mus,
and will circulate in their place; because the home de
mand is stronger than any possible foreign demand
When The ussgnals were cried down during the
French Revolution and disappeared entirely from cir
cuation gold and silver Immediately supplied their
place. So if all bank notes Withdrawn from ccu
iaon 10 morrow, specie would OF once, from necessity
appear and take their place.
The same reasoning applicable TO partial exclusion
under twenty dollars, and the .fs 49,
diaely follow. The bank hounIe ale already on The
scent-hr cry is smc. notes The cry of,he people
10 NO DIvIDEaDs-So Shin rLAsTEEs-So SNAIL NOTES
TIRE BANK OF the UNITED STATES This journal
denounced in the strongest and most emphatic terms.
the successful attempt to echarte this monster It
exposed its nquties and SO far as was III It's power, has
laid bare its schemes 10 the of the community II
has uniformly shewn that the bank was pursuing a
course Of policy runous to ITSELF 10 its Stockholders and
10 the people, and that its inevitable end must be total
and complete bankruptcy.
The time has al length arrived. THREE YEARS SEVEN
had only elapsed since their
menHment under The Pennsylvania act, nhen their Sc.
eond and last suspension and real insolvency took place.
During this period ,hey have divided amongst their
stockholders twenty eight per cent or 500 0OO every
dollar OF which has been paid out Of their capnal Is
IN reality worse off than lis predecessor in 1872 when
Ms Cheves would no, allow i 10 declare any dividend
Tor Two years The present directors homes, as
that high.innded gentleman, they VII not declare even
ifpermi,ted) any, dividend Tor five years 10 come
The secshd largest bank in the world drew bills of
exchange on HoltiDguer, Il Co. OF Paris when thew
were told and knew they would not BE- accepted and
sold them for cash 10 The American merchants end on
Monday The 9Th of October sold post notes of that date
in New York. when they had determined fail The day
after the election.
ssh perfectly well known, by who all familiar
with the ahjee Of United Bunk
Toto mere loo State Bank the Loco foeo sa,e of
MIA was not At all THE Wings. When
granted by State Of which the
Van Buren, Senate aud an ant, Masonic House Of Represents