Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-10-15

would prevent their being brought TO Market excepting
in given case, which might, possibly, not occur
Cotton Tor instance might have been offered in pledge,
but not 10 be disposed of any under given prce;
Stale stocks, present and for time past, aso
lutely unsuitable in these markets any terms, light
have breD offered 10 be lodged al certain rate oil vaue
ard moi in any circumstances 10 be disposed Of under
whatever The necessities of the holder, and however HIS
credit might he left 10 go 10 wreck ON not disposed
TO he ITS nccuse! hut asuIedly The business nf The w.
Bank must now be conducted in much s!ovenly
way Than used 10 The case, when with steamers short
ening tie average communication by nearly month
upon the double voyage out and homr open account,
doubtful al least from lis growing extent could be lett
thus unldnvIttd ir 20 he mercy OF chances IN such
distracted state If the money market OF this aid
other European countries as was well known 10 ex.
list from the tenor .f ell The advicrs received your
side Of tie water iur many months preceding. II must
be recoilecIed, too in behalf OF Messrs iloltinguer,
and as tending In incu!pate still more the negligent con
duct oi the Bank that previous representations against
over drawing have brrn made from Paris and strong
"Reminiscences doubtless against having the House ocx.
posed for want ii available assets provided with in
effective securities only The question Is not only the
amount Of drafts TO which hrssrs. Hntiinguer refused
acceptance but the amount aead running dcceptd and
for aehich then ,oere LIABLE together with the amount,
whatever that may be, for which, on balance OF &C
counts, Messrs Hnnguer were already in hard cash
Gdranee have stated the fairly lar ns is known
and appears the face OF i, behalf oil the french
Agency house; and OF you will have the expnna.
lion of the U. s Bunk on he other hand from which 10
arrive al correct judgment than with our incom-
Plete material is possible here.
But must acqnant you with another deplorabe lea
of Bank misrnana gene nt it, as have every rea
10 believe the fact be stated TO me am ciedI-
bly, informed that The of ihs disastrous event al
tavre and Paris, upon person with greater sur
prise and unprPparfd than Mr.. Jaudon, the agent
here So far, that is natural enuugh and NAV ensy be
accounted for But further assured that Mr JaGdon
kept by The Bank al Philadelphia in the most pro
r III NJ Tho pnnh
COUNT that he absolutely lett. and unacquanted
with The slightest particulars Of any matters in dispute
any complaints of cverdrawng. any large balance OF
money advancrs owing in Short that he was held as
sludousiy in the dark sGd has been all along of the
state Of the Transactions between the French agency and
the Bank IT, inst cd of being he is ought To be-
the sole confidential agent as well as servant o The Bank
IN Europe, he were merely Common mercantile COZ
respondent. in the usual OF The term, with whom
confidential communication necessarily limited 10
The nature Of the mutual business concerns n The
parties II is only proper add, that The cxeEtions Ut
Mr. Jaudnn, under circumstances so dscouaging, has
been abuve all praise and that his general intelligence
and activity with The stragh, iorwurdness of his deal
ings have for himself individually golden opinions
from ali parties.
So far MS the bills nnaccrped aud left Unprotected The
matter has been made all right. hr. Jnudon with Mr.
Aisnp Of the Directors Of the United States BANK
who is here, immediately The news oi Holiingurrs
went over TO Paris ard hns succeeded
10 nuking arrangement with The R"Ihschds for
covering the unaccrpIfd drafts it'll their acceptance"
There are reports also ha, transfer Of The French ng.n
cy has heen made n the same house bni can state par
culay that such reports any rate premature as no
thing has yet been decided ha! head II is not i'm
probable that neither Mr. Ali$"p nor Mr. Jaud"n have
powers 10 that extent and The question remains there
fore Cor adjustment al Philadelphia. In like manner II
hiss been reported that The Rnllsc'd i'll not take The
Paris without the London Agency the resumption Of
which by the Barings has been for time the
suh-c, n negotiation II is scarcely probable, however
that The United States Bank will ch"usr 10 place itself
n. IF nts p yIpip f.f
for HE house OF Hope * Co, If Amsier dam, would
probably 'hrnw up their agency also, If R"hschds
were to dspace Barng's as well as Hoinau"ts
MIR. Jaudnn has Gpc!uiPd cunlract with Hope u
Co. for State Stocks Ia The amour; o - coo COO against
which ha, house will make advances by ins,nmcns Of
$50 eco al stalled intervals, The United States Bank
will value upon Them Ia that extent as was most conve.
nient The Bank # Amsterdam is party Ia ihis ar.
rangement and doubtless lakes The heaviest share IN the
operation.
There IS absolutely no business doing, has there
been for time past in State Stocks shares hire
and therefore il would be worse Than useless 10 quote
prices, for there none, however nomnav they were
quoted u S, for example, are called Egg Is 10 but
nothing is or could be done those prices.
The produce market is remarkably quiet, and on all
sides there indsposlon 10 do business until Il can
be clearly what The Ban! # England
will continue follow. A, present ,hrrp IRE no lndca
tons OF reduction in the rate VI discounts and interest
and the precarons prospects ni the corn harvest cnn
hurs 10 render the position ." ths! Bank and Of Tie Ne"
Win, no American or American press would do the
Englishmnn Of the National nelligenccr promptly per.
forms for his foreign He most shamclessiy as
crhrs The admints Of Government, and the
operation Of here what every other press (even
the Bank pressfs) uRhPsilangly attribute TO foreign
causes The Bank Of England (Which 49, in fact, The
regulator Of It's branch here: however incompetent 10
regulate its affairs wisely al home has been borrowing
millions Of the Bank Of Fance-has employed 10 The
u,must the securities CT the English Government, 10
keep up It's vast unbalanced, unbaIlas'ed credit sys
tenn. But told that the COMMERCIAL demand
for The precious metals for The China tadethe drnn
to purchase supplies Of grain from the coniIrent-has
dried up It's resources and that this has forced il To
make the pressure lis debtor satellite the Bank Of
the United States, and drive il TO sell post noes
in the streets for months back, 10 purchase the notes OF
other banks, and thus obtain The means OF diaInng The
State banks Of srPce for export TO England This is
the admitted, pa pabe state OF The case on oil hands, and
yet The National In,egrncer has The eronley 10 charge
this acknowledged result nl the deranged state Of money
affairs in England, and their direct action through The
British insrrruti,n among 'o the ppon hs cnrrtn
eyand its arrangement md prostitution ty TIC Gortrn-
n1nt"-that IS Ou1 GOrtTnmrni!!
" hat step has the American Government taken TO
drive specie out Of the county or increase the pressure
on the banks' So far from operating in Ibis way II has
constantly extended credit TO Tie specie paying hanks.
and INDUCED those indebted to il. The Treasury notes
have heen employed facilities by the merchants ~
the payment OF their duties, and the Government has
used liz credit through The 10 add To The stock oil
individuals. It has made every part of lis machinery
work light and easily for The money market The OIL
GERS of the revenue all sections OF the country so Tar
from comnpnoncng "a 1cGr apon the currency OF the
banks have done nothing 10 cIscredt II; and the Globe
has continually exerted whatever influence II commands
TO rrpress the bnnks. and 10 discourage the ~
,nnrs which The agents Of The Bank OF the United States
have secretly diligently propogalsd for the purpose
Of making that inevitable 10 NIL which could not shun
The articles from the New York and Philadelphia pa
pers which quote, will, however, enable our readers
TO udre for themselves of The injustice and i1sehood Of
,he charge tina. the Treasury Department has, in the
rpnoes Manner operated 10 produce the new eauslro.
phe Giobc.
The SuspEXsroY The Rnnks OF Baltimore hive
followed Ike lend al Of Phladeph and suspended
specie payments also This was 10 have beenrxpPcied
They issued the following notice Thursday morning:
"Wherens information has renched this CITY that the