Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-10-15
a'4s1Is sSa.
(frOm The Jcrhson .NissssiPpian. Of SrPt IS
EXTRACTS from The .ldaress If HE S'a"di"g Committee
cftis Democratic Stare Rights Contention.

81 the Democratic STATE RightS CoHEeHttoH'
GCoscLrDEp.
|, is one Of the besetng sins oil Federal politicians TO
set al naught the experience Of the past and 10 Geny Inc
MIST familiar Of history. Hence The assertion OF
that party, that during the existence .! United states
Bank the country had always n sound currency, both
State and National. it would be difficult 10 make an
assertion more susceptible OF efuiaou, by recurrence
TO the history Of The country. In truth, during the
whole existence Of that institution. the history OF our
currency is history nf rsvusons ard deprecated mo.
npy The years 1900. 1919 % 1899 1886, le2s.
and 1872 oil years Of commercial distress agd of
bank failures. although National Bank was thin in
successful operation The failure anc suspension of the
banks in lSo-'20. and the general bankruptcy which
peraded the country not surpassed by The susPen
sion ot 1897.
The United States Bank went into operation in lSl7
In 1919 the banks g" Tennessee suspended spece pay
ments in ls2l specie paying notes commanded from -
to L. per cent in the currency Of the Stale In 1898
the paper of the Tennessee banks at discuun: Of
% pr cent in Philadelphia. and the banks Of Nashville
Did ~" resume specie payments until September leu,
Such The condition of he currency OF Tennessee
for series Of years during The successful operation OF
the great regulator.
We have already sen that in -2I The local currency
Of Ohio worth only fifty per cent in the notes t."
the United States Bank We need not ai!uGe To the
condition If ihngs Kentucky during the greater Pc
Rod Ut The existence al The great regulator THE Bank
OF Kentucky commenced dscounng in April, SCI; liz
notes IN very short time 81 discount OF % per
and coninneG Ia d-Precaie until prii and May,
of le2 when two hundred and ten dollars Of paper
would command only one hundred dollars in specie
Nor was The condition Of her currency much improved
until The close Of the year 1926 All are familiar with
her rrls her c"innption and her final repeal
Of more than !"riy bark charters Nor The relief
measures Of Tennessee lsss udious
On the Odd II July, 1921 thu Slate Bank of Illinois
commenced .ts issues, and days they 1T dis
count nt fnv per cent, In l.iGhe currency Of North
and South Caro'inl in good condition, and The
,,,.. r ,ts L,,Ls ,C ina ,rsr commended ,rs,,i,,
i; uh;I,I.i.I;, Nbsn ,Le L,,rrb ,fth. n : p,,k
u,. es,-LI,'beL :, Ch,rs.,on !, cnnnurc.d rr,,,
y,ran, session. n, discounts In 1919 IN m. .l:,d nj
Inc ,ts scnur,sI ITO lr,rch \, ,ha, r,ce amounted
., 81 .0o ucO and =, S,yorrob ~ rrn Cpu Tins ,sck
I.ss ,,,c.sJ,o, IF ,hs Natal E,rk n,oa,red nver
.o,,,n j, H.. 80, = DO al t,,Ls IT, l-Jn -, no
GU "a h,L', c.,;, . r;n, so,;a 49,, 80. Ia
100 ~ f.r,,,. :, ,i., ST. ,,s,s,o :. ~, ~
49, In,I, ,.s,,,,, ""ao;, 'a,n.nIs Ezra l,n
80, - .. 49,, - r. r 60 - s,d al 80
sr,I, ~ ds,,sc;,,L cu,,.ncy n,,,y,,h.,,nt,,, IN.
currency "'' VI"
IN h,nks ., Sr.h r.,oIo, eG,sed .,oc. ,,,rc,,s
= 40 and III >, ,.r ,,c 49,, ,,y ,.r. :, c,,,iv rn
- 100 g. Ya.,L r.. r., Ia $780,,
- 80 d , =, 49, ,,, , -, I,on,, -, -
- 49," ~ T.ho So. n,,,,a,t a.
$3.50, .s, =. 49, a,.' a.. :, go,
ron, ,esn, nv ,,k.n bro,s coum,,,ee cf tho er,.,,
t",r - "", -, r""' W '''' ''7 a' w" - e
hapi' - n"n'nS IN ''l'' own n.'es d ''sc"""t'
IN Nv E"R'""o M hanks d'd not suspend ~ ie!",
o"' :" 20 - ""o - '']e wiz tAt"S'st '"''"''s "
.ne o''Hs ~ ,.n. e". Wv ~" "ns
y, ~, Wv - M ,,,L s,s,a,, co.. "
lhp '''.'hs 90 '"f ""hh system sayeI
he n'c'S t,"o"'ru upon ."r poo.s arc, ''a' no
man ca" .''F. s '.''rS ~ any mum re-
c''''.e pa'. ""' - VIZ" ~ 80 "'";. -
Wv ,I''e - w. ,.' o' '','
o'hc", i:''e's'' !" P'''pr'''' ~ " u's"ee ~ 81
lnu,s 90, it c,un, . ",is ., comprx ev,s
.', iron, -bsr REDUNDANT or loo restricted citcua.
ian nI ,he cnIv currency WHICH can be obtained and
hence sudden variations n hr o,cfs Of all exclsnrrsbe
on,rot,,,ps "a, e,ce,drr The customary nr,fs Of 70.
rri,, ,nd,srry and commerce thereby corv,r,inu all
1,..c,,rs II brsress ssnec;aIlv Al a distance from
,be sra,s Of .oreipn commerce. INTO mere lo,terrs
..W. c,n perceive liza, III. issues OF notes from the
banks in this STATE have been Annoying To the banks
Boston ard NV York. while theirs, funded
oernr security haze been equally mi Trous to Us Both
parties ought vulCrtar,ly concur in permitting specie
IN circulate throughout the country, h,rshy rendering
the ca p,,as aud credit which conducive uuiua.
advantage
Such was The uniformity and soundccss oflhc
cy Of New England under the auspices OF the United
Han