Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-11-12
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What will the Eauks d. = WI, " Z 're vsrnmfn,
d, ?-what will h- h. statute Do G'"s'i"ns asked
by every body huhV nGd s""'d rs Interest
opinion feeling dictate. We 9" h'' pr''rro 70
know wha, The parties III question VII 10 'H"ugh per
haps every calm has ideas more or less deter
inmate Of what tney should do
Il is clearly the duty q" the banks = O. vote al 'her
energies putting their house IN order Tor resumption
at the ea1les, possible day 10 this end t''Y
tail their business, with much raprd''y c"mp"r's
with safety and with hs causing as i''" sntt"fnI as
possible; bur they mus, even u u Should :" S'i
ex,en, be productive If saccss The drclara'i"n
Of dividends likewise another important feature IN
the process o, reaching sound and solvent c.nd'"n
which must te veh-u.sntly Insisted on. Public opinion
is insured npon this snh-ct Though u may cnnsp IT'S
Inconvenience. II IS regarded n neI'hsr hon 81 nor *
opt.nt !or refusing to lhrr Obligations
10 the pubIrc al IL -. 4 CT TO share pros II they
have means these nHan> niv" - other legitimate" end
than that oil cnu,fhn'sng 10 hung about resumpI"n
They must mol IN d,s,pStd IL dtvdrus presE"iait""s
of plate arpess.s t.: legislative boring IN
any other way All bJnk res"uic's are q"ed for one
grand object md all Bank effort has IL sphere wI'hn
clearly defined ruis h. laws "i the State and ihs
welfare Of the cntnnuny ih- paramount oh"cis of
regard aa"ra ,!Ia Banks themselves. their indivi
dual e.pr,nnS ~ Il ruGrse be much facilitated by
friendly ana ,fbeang >p'" each "'hsr. and The most
accomwoda,rr IAN Ger which is possible under IN cir
cums,ancss IL lGr,s ,rAt>; hn he great duty must
never BIZ mace second - rnlnnr cnnsic' ratnns.
AS for the G.v~t""' has air aht BEEN sh'wn 'ha he
will firmly fulfil the du'y entrusted hm Of seeing
that the laws faithfully executed " He will Dr.
bate upon the prppriey imprnyrctv at the laws but
take that The banks perform unlawful act i is
folly egslsie at all It euhsr 'ndv'du
ais may set laws aside h1n-v-i II tSp-Grn
nent 10 disregard their QUESTIONS We had better
turn at to state OF and best pensrs
u.s. without reference the general good The Governor
has proved that he understands his duty. and Thai hr
determined TO fulfil the trust rep"s'd IN him.
As for what the Legislature ought !" do there
naturally diversss OF opinion. bot there b- LILLE
difference among those Hho take enlarged
Of the present TO what they ought do
There should be legislative Sanction emission
Of notes Of a less denomination than hce dollars
whatever pretext such Heas"re may H. urged. hI"re
paper not the way |" the evils at too nuch paper
and resumption Of specie payments not IL b.. tncli
lated By enlargement Of The circulation at bile
notes. We eau only ret back 10 Specie paYmehis by
contraction uf bank issues. and The enla 81 such
issues ia strange MODE al reaching The point prupnsrd
An error .h's head ~!i Only postpone rrsump
tion bot IN all probability fix upon sna note cur
rency for years and years 10 masking he bar Ks
unsound and dang heretofore. An early
resumption is the first object Tor The consde alton # The
Legislature, and that body will doubtless TX dnv Tor
that purpose and IN all likelihood take MEASURES imr IN
vestigatlrg the condition of the banks OF tie Common
wealth. that the uns"und institutions may be COMPELLED
wind up their business md vacate hfir charters FIR
those that survive The searching oprra'"n conditions
and safeguards will Of course be necessary, both
punish future suspensions and abnvr al! The
likelihood of the recurrence at such d-plnrahe events
An important feature IN this process Of legislation will
be The gradual Withdrawal ui the smaller derOm "a
tons Of paper, that there may be gold and SILVER coin
for ordinary transactions and notes for larger CONNER
cial purposes The liability Of Stockholders will Ike.
wise be acltaed, for there rs evidently grow ing feeling
in ia OF reform that may nh secure The safely
Of the public aud corporate bndps To look sharply
after their Ulcers Tn. limitation nf bank prof also
spoken OF by u,drr impression that by IL
of the great temptations in"rdna'r secula either
directly indirectly, may BE- avoided end 'ha, banking
companies may be presens", from s,rayng from their
leglme,e daies either 10 back extensive Spectators
who absorb their means 10 themselves stock
Joining and in monstuns commercial "p-ra'inns which
belong 10 the rrGn;tlr community Il !pera,ivply
necessary make the banks NJ, The c"mle,"rs of The
public, but the AIDS and udjunc's ol INDUSTRY and
rational enterprise and I" c"ine them WITHIN ihr hints
c.facilaung Wholesome business instead at i'sterng
gigantic speculation Various modes =" doing this are
suggested, and It for The Legislature wisdom
mature the best possible plaG ,.at be formed from
conflicting opinion.
There are duties likewise imposed upon the ,eope :
They have been led and again The sarur
errors under which they suffering. hut hereto
fore have always been content 10 recover best iy
might, and 10 90 on SHINING against Judgment untIl
brought up suddenly by another Crisis. II is idle 10
TeProach another with luxury, with rxrravagance,
With proneuess in debt, with living last ard
TOO high, with buying too much aud vii, ta,Irg. drunk
ing end wearing too nuch We hav, 10 tsi,h II suip.
tus,y laws or in sumEtuafy cries TIE charges alleged
against are true enough, 10. they merely effects
and Ii is The madnpss 0l hankng hich has
spread this madness hron every class OF sncrty and
until one madness is cured The other insanity will CONT.
nue. 10 flourish We rush wildly forward brcause there
10 sufficient propeliug influence work push for.
ward, and when We have fallen, instead of dtducinp hp
mora! and con,vng the cry Tor relief 10 Europe
TO Presidents 10 Governors 10 Congresses, Ia Lpglsa
lures Thrss canno, help II IS not The duty Of 60.
vernmenis il i IN their power, 10 pay the debts
which We have ap:ndently contracted, and 10 furnish
ns with meat, houses snd clothing There is Her
cues TO drag Cur wagon rom the mife-we must do the
work ourselves; hu, Tar The future may sustain our
legislators and encourage their e"rts diminish the
force OF that UNIV h"les"ne III lurpce which has thrust
rs INT" SO many dcicaes. Deriving wisdom from sad
experience, Is The interest we'll the duty III iar
public TO sanction aud pr"m"t. speedy and !licpnt
Bank Reform II they Go not pursue tins COURSE they
will have 10 blame bat H,seivps for the prorsc
ton OF present evils and The acon Of future suffer.
ing-Pennsy iraaian
THE CAUSES OF THE PRESSURE
Is there single in ibis cnnmnullp ihal DO. -.