Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-11-01
BLACK WALNUT.
For TIE Eh-OTfEER
fun TIE EN VLIHkN.
RINK SrSufuSyUn

Bunk Suspension.
This second recent though mol unlocked for stop
page OF specie payments by the Banks commencing
Phadelp hu, demands The cool consideration OF every
pure patriot whu avdrniv wishes his cnunirys veal in
lhs hour paper progacy aud proiuseness Hence
the FIRST rational inquiry arises, From whence flows all
Of those ills, aud whilher shall !ee for refuge
from ,I,t &c impenrng doom? 10 point the evils Of
the present Banking and the best resort for reei
lereltn, Is NOW my purpose The rst great cause OF
s the individual interest of private persons
in their stocks when the grrrdnc<s Of gain loses sight
OF the general good and public safety, whilst present
pratt the ailabsrrbng rule by which they work Yea,
Ia such extent Is liIs Shy lock system carried. That
their safely is los, eight of The restraints of law
and moral cbl CATION let loose and until cloud,
which mans hand IN The Distant horizon first up.
peaed. now h"vrts over Them with Imminent destrnc
ton they aroused 10 a Of their deficiency and
solemn accountability The Eambrr ui these inslliu-
tinns with their respective anagUnisc interests, a-o
in the OF their dangerous and demoraI
ising practices Then come, The failure, 10 fulfil the law
OF their rather, the rotten performance of
their condition prrcsden-vz 10 provide and kcrp the
proper pr"p"nn Of specie the basis OF their stock
and future rssups. How often does one bag Of gold
Temporarily borrowed and Transferred from Bank To
another energy and existence 10 Of lhose
Ia wirss institutions: Last though not least, Of all the
fruitful, and COUNTLESS oil these present
lerngs the existence Of one mammoth institution,
whether national Otherwise 10 carry out and
hy irresponsible agsncies IN matiematicaly increasing
ratio oil OF the dangerous and destructive principles of
Vas FIonl dHu progressive gun "HCu l!P HiHOl ones
aim atm lis huge fall, carrying the mnJr portion OF
these private stock institutions by the board with For
illustration of th truths would refer my readers he
history Of banking institutions for the last FIVE years
with a close investigation Of their circumstances and
condition. Dnes the question arise what brought about
the first late suspension Of sprce payments? The
irrssisrhly is, tie y S. Bank. Is 1t ask-i what
has produced the !ae suspension The reply proper s
State Bank called the U. 5 Bankand in proof nf this
may safely appeal 10 the friends aud foes of both OF
| these institutions
But suppose The present unusual action Of the Banks
were extended Ia ndiv iras. and what lu exkbi
ton Of It's horrd have with all OF its dreadful
Consequences According 10 The moral code proper,
what these rotten institutions ARE permitted TO do
should individuals do likewise. But no-ihr law with
al of its grinding power acts literally these whilst
MGSe riot awess their lust and acquisition OF gain
These things ought not 81 10 he j. asked what then
is your remedy my is the same that suggested
Twelve months ago; and loI confirmation thereof can
appeal The concurrng testimony Of legislators and
,rlsc mcn innumerabIp That the s0lGry State Banking
system upon Stale capital alone only sheet anchor
ri hope for stable and safe monetary system BY the
love and honor which bear TO this common coun
try, d. conure all good and great men 10 cooperate
with in this only Effort for stable circulating
medium N Jr