Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-12-10

egcs lac instructed il take that part cf the Governor
Message consideration which refers 10 Educatiu
Il the earliest moment, and report such changes IN Inc
common school system az they may deem proper and
rXpcdicnt.
On Mr. GoonF, motion. laid on the table
o.; Mr. Flo"n'> motion, R,soircd, That the Commit.
Tee the Militia Laws inquire into III" cXPedicncy OF
repeating The proviso of the Goth section of the ac for
he better organization of the militia, passed eth
| March, l-:l.
| On Mir ALpEE>ox's motion, the Committee OF
Courts Of Erstc" instructed 10 nqur" into the eN
| prG,"ncy 81 authorizing the county courts OF Fa:re
and Nicholas 10 appoint three persons IN each county
10 soIinizc The rIrs Of matr!mony under the existing
| laws
| On motion Of Mr. Jackson of Wood Rcsored, Tina,
the report Of the Board Of Public Works be referred 10
the Committee Roads Ac ana that said comm ttce
inquire what further provision necessary to be made
by law for the completion OF the North Western Turn.
pike Road.
On Mr.. R,mEys motion, the Committee OF Conrt>
OF Justice instructed 10 inquire mt" the rNp"-
dency Of prohibiting b" law, til" employing Of slaves.
free negroes nuIatucs al public ferries within tbs
Commonwealth, across the Potomac or Ohio Rivers,
and the andng Of slaves, free heroes or "nait"s on
the Virginia shore of either Of sad rivers, when they
may be employed IN any way whatever on public Terry
boats.
O Mr. PowrrI's motion, the Committee Of Courts Of
Justice required inquire INTO the rxpcdcncr Ct
amending the laws OF this Commonwealth III r"la-
ton to the issuing aud rCHc,riHg of executions ISSUED
by Justices Of the Peace IN judgments granted by them
upon warrants, prohibiting any Justice OF the lracr
from ISSUING rCRcriHo executions on any ludI-
mcn,s upon which an execution has been previously
issued without due return having been endorsed there
on by the proper officer.
Mr. McR,r offered the following Resolutions:
| |. Rc<oir,d, That the Committee Banks be in
sructrd to inquire into the causes which led to III"
suspension specie payments b. certain Banks
OF this State; that SAID Committee inquire INTO the con
dton ard management Of such Banks, and the natur"
and measure of rclci, any, which is proper to al
! ford them.
mcnts in the possession of the House, relative t"
the present condition Of the Banks, be referred SAID
Committee
Mr.. Jackson of W. proposed TO amend the lst rcso
lmon. b, I,drng the words, 'sAud that 'ney ais" IN
qmirc how arthc Of blls and under five
dollars, wall have tendency to prevent FOR promote
put in on the suggestion of Mr. Smith Of J. of W. i
such suspension in future. The resolution thus
amended, was, Mr.. Nenahcs melton, lad upon the
iab" And the 2nd resolution was adopted.
Mr.. GREGORY submitted the following resolutions
"RcSO'rcd, That the Committee Banks be instruct
ed to inquire into the cNpcdicncy Of ctarrcrn@ Banks,
without requiring of them specie basis Tor their
notes
Mr. e.. said that gentlemen might be surprised at
such propositions but he had deliberately considered
1t. He wished the Banks to stand upon their credit
aonc-Wc could not lcgIslac specie INTO existence.
Under this system, it would be- the interest OF the
Banks 10 have specie; because they could not other
wise ret their into circulation. He offered the
resolution that gentlemen might consider the subject.
Mr. SNiru Of Isle Of Wight thought had been
acting all along upon the system proposed in the rcsou
ton, and il had entirely failed II" regarded the re-
solution idle and supcrrrogatory. liz spoke al some
length as to the operation OF banks and the best system
Of banking.
Mr.. GGrGoRY replied that ii time we had looked
to some other system than that which have,
which has sgnaliy iatl"d twice within the last five
years. He opposed 10 r"islanm individuals into
credit II would be- The inter- of the banks alwayS to
He wished TO prevent rams upon the banks by brokers'
and to subject the banks 10 suit for ilur" 10 pay their
notes in specie, Just ind vtinas
Mr.. R,rcIIrr would 1--WE his support to the rcso
luton II assured that II would accomplish the nhrc
which the mover avowcd But he could not perceive
how il would produce that effect On ia" contrary, ne
thought would be seriously injurious To the best IN
tcrcsts of the State He therefore moved 10 lay the
resolution the table but wthdrc" the motion at the
suggestion OF
MIR. ROBERTSON, who said it would be- fortunate, m
deed, if the gentlemen from Williamsburg and from
Isle Of Wight had succeeded, as they seemed so conf
dent they had, in discovering principles which would
protect us for the future against the evils of disorder
cd currency 1t remarkable, however, that the
principles Of the two gentlemen not on were not the
same, but were directly opposite and contradictory.
Beth of principles, therefore unlncky, could no;
he true, and both in his opinion and probably IN that OF
tie House DeSiueS were equally utterly
Seeing that paper currency yet had been used
0t all times cxchanrcablc for specie, gentleman
seemed disposed to have paper, except on condition
there dollar for dollar 10 sustain II; while another,
starting from the premises, for abandoning
the specie bass and founding the currency credit
merely The gentleman from Isle of Wight de-
med that our system rested on specie bass, because
sometimes paper was no. actually convert bic =
But this seemed cavlng al terms: for the currency,
under system which required convcrijby, was
arranged generally TO effect tn" end, has always
been held n specie bass. On the other hand,
the gentleman from Williamsburg proposes nothing
but what has been often tried, and as often aed
the issue Of paper credit merely II tired IN
France when they issued aSSgnaS the credit of the
Government: il tried in this country during the
Revolutions when Congress issued what was known as
con'ia6niai money Tn" h story and fate OF both eSpe
rimcnts were the same There principle BY which
10 regulate the issues They became excessive, dcpre
catcd and finally abandoned but not without pro.
ducin9 in the meanwhile, great embarrassment and
heavy losses Ii mus, ever be 50, some rcsr ctvc
principle on credit ISSUES shall be discovered, similar
that which natural causes present TO the redundancy OF
the precious metals IL IS this uniform quaint " Of
the precious metals, than Of any other known commodi
", having intrinsic value, that has recommended them
To the whole civil zcd world medium of exchange
as money. Hence it affords the safest test for paper
circulation, and the only one which the wisdom and
experience of centuries Of all commerce al countries Is
vel been able to DEVISE But VAIN hope that anv
paper system be erected which stand TINS test
under all circumstances. When the fluctuations ol
trad" require that naton IN addition 10 us products
shall send forward aso gold and silver II make good
an unt;v0rabc balance there must always be risqur o
temporary necessity of suSprndng cash payment
Nothing short Of control the seasons themselves.
can ever obvatc such fluctuations, The consequences
they inevitably entail The course taken by tn" gen
tlemcn the way, (McSsrs. Gregory and SMITH IN
roinu somewhat nj larr" into the subject has compelled
me- Differing from both of them as do, tnfO cGiO, Il
offer, without preparation, the views have done, on
question requiring be treated with the greatest
Since the question has been discussed, II may. perhaps
he due to the country to show, by dccs vote
aTan.t the resolution, that the House will enter
tain an inquiry INTO the cxp"dcncr of departing from
the old and cherished principle of convcrbilty, on
demand, of all currency in paper, INTO com.
Mr. GREGORY did moi offer the resolution with any
view of action now He wished to call gentlemen
attention the subject for the purpose Of future DIS