Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-10-22

and ynlue are bette understood. The preventive "f"'s
mus, be in accordance 10 The natural laws OF trace OF
ti,y III MT have lhe slightest efecl.- PenhsyeaH'""
(From Me Harrisburg REPEATER. 81 ot ~ oo.;
7nE NEXT LEsisLArrRE.-Ihe senate w. Tie
Of l5 Democrats Is of all other dtHomina'"ns n1
House will cor,ain about G5 Democras-o wings :,
ami hlasuns and .7toiitonists! soona
course will be ell ced L S Senator. The parry huSs
enough excellen, material and cannot, win ofu'"''s
circumspeclion, mistake happy s''eo"o"
n, no,a,v ,h. seventh OF October the board OF trace
Of m. civ I Phadelpra hi Id meeting ana aootesseu
letters 10 the several banks Of the city aud county o.
adelphIa requesting Ihenlo appoint c"ihmi.''es W W 81
a, the room Of the board, on lnfsony ."e
inc, !, lake into consideration the measures necessary
>, ,,ao, mo . ,irsncies OF The times Al ihe lihe ana
nlnce appointed II banks were as repre- ".
motion was made The daegae from INC ~
and seconded ty TIC cashier Of ths GTara cam" a' s
HINTS sh0ud suspend Space payments, jo'tHem y"
h; Question, ) banks the Schuylk The onned otHtts'
,be 1;iro,d the Moyamensing and western Vo'eo ~
The affirmative aud the remaining nine ~ me heeaEe.
On "Wednesday, the OH of OctGoeI Tue Ch"ea otauS
PL communicated to the other banks, lis deieth','
80, IN suspend that morning. at all events a'u'
nccordnply all the banks OF the CITY ana county
Uondr, specie ia menls in the course ot that Gay
ercsut;rG The Commercial Bank, winch reoee!heo 10
notes hu, did not pay lis depnsitors
In the course oil The day. the notes OF Tue Schuy
LII hank which had been refused TO be taken oy 'he
other banks refused y The citizens out OF
md /, yas reported that its concerns were Wou"a up
by an assignment of all its effects 10 The Bank OF te
Ii,aJ S,,,es This bpaever proved 10 be incorrect,
rs il made arrangements with he other hahRs on hu's
day. take their paper 10 limited amounts upon giving
them security " h.
Tie Gnasd Lank ISSUED one doilar, ENGRAVED chftks
=, ,,>,I-tLe Mate Of hici have Ge,n tnSThrtu
some days Lefors The SUSPENSION
We have thus given a naked end unvarnished nara
live Of events TINT every citizen OF pennsylvania may
make his own comments upon this disgrace!u lahore Of
these corporate money makers, W Puy VIC" Jus'
the people Of The Stale.
We shall, however, express our own sentiments ~
relation To it, and believe they will be the senti,
menis Of the dispassionae and rejecting men OF al:
parties
II is clear thpt there must have htn rrte6ncerf q
tioa and that This measure had teen dtt1ninea UPON
some b.frehGnd by the Bank Of the Uh'leo states
and is cuaGulo.s and by The needy specualos OF fhi-
adelphn no were unable TO sell their worthless stocks
or TO meet their numerous engagements. u IS equal
" clear that the board Of trade, which usurPed The
whole legislative and executive power oil the Slae was
the mere finger Of The hand OF suspension, ana mat II
was e determination Of the weaker and rsovent banks,
by panic or pressure force The stronger ones
the necessities of the former
II is asn perfectly eli ar thai the Wing managers OF
the susrenson DELAYED i, untH Mig sb'Dpt0Sitr GS.
stmJ,msr ord Hhie shinr'0s'r eounctS "ntttt'ed IN
ne t,iy IF Phaad,ir kd-to il is the universal bfhsi
that il lhls determination had been known a lhe polls
on Tuesday morning last, not Wing could have 'fen
elected in the commercial metropolis Of fennsyivanla
mocraiic Legislature nnd they have solemn culies 10
perform towards The people Of Pennsylvania
We will moi rtcapiru!rte tie evils oi \ mere paper
system forced upon Us in 1887 ty The reckless end un.
prime pied m. assures of the Bark q he unitd Sia'es,
and hv he time serving policy Of Governor R'net ana
We shall onty ask readers 20 reflect upon me losses
eniaed upon the puor and industrious classes oy we
exps ions Of such rnper minis as = 'h' h'aoe
pha Loan company. and hundred other equally l!au
duent asrcincns and by the issues Of shinpasers by
,bc city PHILADELPHIA and the n'her municipal Ger
paralIons Of the Sg II Gt snce ct tie laws q! e iano
The suspension would have lasted "rt vcT The sleek
ittbers and specue'ors only had been heard bot the
Democracy ni The Slate. I NSUS1AlNED ty nc Enc
cutrs- Mc hgsi"tirc tie lUd'c0t power 81 lie Ctm.
monweulrh, by he mere Influence Of public npnI"n,
forced resumption If honesty The part OF The banks
We differently situated now. and II beho"ves Us 10
apply the sl, dies and m,s, ftciun remedies 10 THIS
carcfr"us Gsea.e OF tie currency
Or these obligations which asusPrLsion Of specie pay.
men's imposes ~ churtrr. upon tie banks, the wosl
important is that dirdtnGS shall Gtt!0rtd ar pad,
whilst they riuse pay gold and silver This provision
should be- rigidIy enforced and the charter OF
any bank violating il. must b. forthwith repealed. on
the FIRST day Of the next session IL secures the CO ope
ration OF The stockholders IN forcing resumption ana
applying Ill the Of The banks towards fulfilling
their strict duty under all circumstances fknt ri 'edffm
irg Mtr notes which form IN reality, component part
Oh IRE currency al the state
Another sGnally imperative duty Is, to PREVENT
the issue Of s.l notes checks bills shnflas'e1s Of
crcrg dscrption uad,r fire dolars By the banks mum
cipai or other CORPORATIONS. or by individuals ms
should be enforced not ouy by using the provisions OF
the existing laws but ty similar application oi NE
repeating power Of the Legislature. We would repeal
al once he charter uf the city a. Philadelphia or oer
corpcru,Ion If they dare 10 sme 81 gle c'r''hcae OF
nan under five dollars ,ey did by hundreds OF IEou'
sands in lrJI.
i, is incumbent uprn he Executive, by means Of the
mower vested in The Audi!cr.Gersin 10 procure trtn
every hank in he State accurate "Ed GGiahd s'aie
f lis situation tie morning OF The hini OF NC
oher ,ach Of which statements should tc punished as
soon as received Each statement should EXHIBIT nc;
riy he rotcs payable drn'aud but nIso separately
all houds post mites ard other obligations, issued and
outstanding ard The times when 'hry fall dGe-a he
line Of notes discounted should discriminate h"Se zone
on persona, security alone
Those done collateral security OF The stock OF The
bank ilseE.
Those done on collateral security Of The stock of C,be
banks and corporations within the State.
nd those done collateral security OF stock Of cor
poru,ions in other States specifying the names ct h'
corporations, end The respective amounts oil each KIND
stock.
Ths was promised by Governor Rtner in his famous
procamutirn of May. 1897. In lie mta"ii1nt, ssi'
Gov Ri;ner q shoH fake care. through hc ou'ho'u!
rested in ,hs .7uditor General, 10 kcp M' r"tc and IL
legislature uhsn shall meet irtormtd 81 The amount
and Of hc othtr transactions RI tic hanks. ~
He NEVER PERFORMED lT-inr The Bark OF TIN
o. S did not make It's monthly statements, ard NJ
call was made by ths kudnra5eneraI for any nicima
lion uni The month Of November, 1897, six months al
the suspenscn and only month before the meet
ing Of The Legislature We have an Executive
who viii enfnrce oil tic laws OF the Commonwealth
and who will not permit any corporations however pow
eu violate, with npuni'y, tie statutes Of the Stale
ANOTHER UNITED STATES BANK SUSPENSION.
We have a, length the male of the Great Regulator
Accounts from the South yesterday, leave doubt tina
the lhroes oud expedents OF the u Bank Of Perm
sylvania have terminated, oil its recent movement
clearly INDICATED. III enoiher SUSPENSION OF srEci
PAYMENTS. Item hardly be regarded os any hing les
than a declaration Of insolvency The Philadelphia
Banks, believed, have followed The example OF thei
moneyed head, and refused redeem ,leir paper il
speoi.
consequences we shall no, venture to COMIC
tore We h"pe. rs We believe that The ass - n,si
tutions OF this Slate have H. " ia ;" = -,
lion unu hrn not 10 lie oflpfn 10 t
ienalioh of an example 80 pernicous in itself ond
inlurnus TO be credit md character of the country.