Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-11-01
ST., ;, "a e.s, in New Haven't

% yment honestly equivalent 10 specie even ns 70 o.
ver,pd INTO . Topic of newspaper comment-loee NJ
lsdephis (;az.t'e and North ARerican as ~ case u
the navy agent lhere
Again ii a collector, to meet draft, cannot ools,h
specie of bank where he has deposited Specie VI r
ronvsent bot in that case in order TO save the Puo''
credit. and indemnify the holder Of The dfa opa'hs' "ss'
offers Ia take the drnfl in ynent nf duties al he sP
cis par; this also is violently censnren ana we sL
officers and Administration. ins'taa on ne o'', - '
assailsd TSae Of collector "i rhaue'pn'a 49,
LASTLY # The daft is protested because the hn'aer
will take nothing however equivalent, except specr'
aud So. Gle caun-t be obtained by the o'hce' i,. Wv
suspend bank where hp has p'"efu u u"o. -, ~,
valiye and hg wishes and seeariiy u IS wen S"o
,brt IN tho d,, bppp returned Ia The !feEsSry Srot
me nt specie will be paid for II else" mere {" u'a. VIZ
be received al mar instead Ut specie, Tor ours ou ''
without being returned an" hrhcr; sue" dI
quoted in the Philadelphia papers at III cents y" u'
lar or owe, one tenth Of dollar above par, ana tqao' 70
specie ITSELF CO. 80 o,d of
the Union The "'her as very injurious 70 we e"n
ny: md The Treasury insiend ot the oanKs. Viuc"ty
censpred for il, occurrence. Sre Phade'p2ta Nat"ha'
Gazette and York Evening Star, in case Of collectors
of Wilmington and Fh'ladrlp.a.J a.:
So much for modern Wing consistency, Importantly
,,roh,ncss ius,ice and morality! AT all events, we
,bnS The community will soon brg'n TO suppose Tue "
redeemube shin plaster portion OF the modern wing PuiS
rather difficult 10 please. 900
/, ia no, n lille remarkable, that almost every one
Of these difficulties under The caves OF me metne
np,ace of III. bnas,ing and Great Regulator Of Tue
curr.ncy.-B
Tur DIFFERENCE Of THE TWO ScsrEssIoSs-A
con,pm remarks hst-"Ihe presfntsnspehsnn o.
s,ecie pu yments the South and West o. us OUTFITS
fr.n thai of 1892 in this Then euery bank soppPo no"
we find excfp,ons as the Patriotic Bank al Washing
Ton the Banks of Charleston and South Caf"llha ih
Charleston, the Bark Of Pittsburgh IN rso"re",
Commercial at Cincinnati. and the Clinton ana RANKIN
Rank at Columbus OHIO" 1hedirIence between me
two suspe nsions, fear for tie interest OF many WIZ
not stop where contemporary paIagtdph mas ie''
off The resumption Of SO was as general as Tue sns'
pension which followed But We have strong GROUNDS
for believing that such will be the case 4nder our
prescn, enbarrns>men's The resumption, "hen II
lakes place, It il should, We have Just cause lot
epprehpndnp will be even less general than has been
the suspension Unless We are widely in error there
are many that will revive from their present IN
solvent condition. Philadelphia SPIRIT 9f NE 2t"ies
10th. Editors of the Baltimore Republican.
GrnllrInrn-- Another suspension of payments by me
Banks Gf their obi cations in specie has produced aho
Their in The public mind The system ''seH
has been attacked by various writers, some lakng one
ground. some another; some proposing one remedy,
some another; and not few snx'ous TO abandon u alto
gether will not tax your pnltrneSss Tor column III
yuur paper attending To prove as good what such r.
pratd experience has proved TO be pernci"us nor IN
suggesting remedies for disease which no renrp can
reach My object solely |" present /" The cano'o me
ref crg, The moral, one single argument upon %hch'
in my Judgment, the correctness OF system oi paper
money inrrnscny res.s:-
The all Creator hes made the earlh and gwen IL
to man, adapted 10 al his wants.
But the Earth supply substances but Gold and
Silver as standard o value in the intercourse between
civilized natinn5
Anv md every attempt 10 contravene by legislation,
This immulnble law cf Saturr a4i act upon society
in difficulties distress and ruin, SO long as be persisted
The politicians in their strife for power-irdivduss
in their pursuit OF their selfish purposes seem 10
have forgotten utterly that the Creator has established
laws either morals in Nature But every nation
has pass through its moral education, and curing H.
will have to arm wisdom BY the things may suffer
ANY wisdom boz the wisdom nf experience, says the
great Lord Bacon, "is nothing but lip wisdom What
then has been experience OF ihis system Of paper
money, II would be an insult 10 the common sense at
the community 10 say that !; has been any thing but
embarrassment. distress and ruin. constantly returning
AID returning al shorter intervals, and with greater
increase The wine have poured into old bottles
has always bursrd Them and always viii The new
cloth have S"wed on old garn ats has only made The
rent itrr, and always Will.
But our Government has CAUSED all the mischief II
is said, "hy mrddlmg with The currency This is laise
The mischief, vas, the a,,en'pt. to Substitute for
standard of value currency other than that founded IN
Nature. by law OF the Ctealur,
Blu, had n good currency before Grn Jackson at
tackled The Bank" But how does ihs agree With the
severe ernbarassnen,s in lei9 and ISIS? good cur.
rency most surely leaves pace Tor Tie distress ana
ruin which the country experienced during those years
"3ul il the U S Bark had not been broken up, the
" States would not have Incorporated go many Banks
they have Ia rissues OF paper ~oLd nave oee res.
g. trained by il This is riu.ul argument II the u.
States Bank could have thus strained the State Banks
through apprehension that specie would be demand.
ed for their paper, why oppose Suhiftasury whose
operations would be Us restrictive. Besides, those ca
vllI.rs appear to know nothing Of the operation Of
Government nj Bank in England here its power is vast.
" greater Than any ever possessed by the Bank ot Inc
s. In debate in the Lords. Immediately after the
ADVERTISEMENTS of lc25, Lord Liverpool Prime Minis.
ur declared rha, "up"a investigation, j, WINS foand the
Bank of England could bring influence to bea' upon
private bankers to restrict The issues OF their pa
per
ter cf the u S Bank from Pennsy vana, was better
charter than that granted BY the IT, tle ss also told
ha, he had sent agent 10 Lnnton to protect he
commerce ard credit OF the u Yet under this better
charter The Bark has failed and under this agency
credit Frustrated would mol undertake 10 say that
these results the quencrs Of dishonesty, Of
bad management. N The first. we know nothing. Us
yet, Justify the charge. OF the Tier, The present
position Of the Bank nothing less than the
inssHsbe consequence of tie sysesn; as fully proved
No doubt, by the iaure al The Bank Of England, as By
the failure ,f The u s Bank Of Prnnsy !sunia.
What ;hsn 's 10 be dores is the cry. Issue more
pspei" "Chursf another Bank Of The United States,
many cry This ia madness. Are never 10 come
10 again! ls repeated experience To be lost
upon US inrepers Is there never be submission 10
those nnusble laws w,isn by On,rpoe nee itself for
the government &c the worid' Surely. in moral
educa,on have already suffered enough to make
error md To to retrsce steps 10 the
spot here our present Constitution found
II people disposed 10 think al all upon paper
money and Banks-four Legislation had been done upon
sound moral principles, should never have seen a
state "f things like The present The consequences
again upon us Mr. Gouge, in his work upon Banks
fussaw and predicted the last e0sSs which actually
took place two years eouner than he supposed The
late work Of Mr. Racquet hardly DOT o'be press before
his pre- dctinn also has received ito accomplishment
Th.re has been lack then of able writers orewsrn
Us Of what had TO expect, 10 apply the experience
tha, lha FUN Rnt ~
duce y Election enough in the community TO apply one
sound moral principle 10 the system All We yet see IS
some modification responsibility on the part of
the stockholders, still permitting by law, the existence