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

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Other bankers and the proceeds of these sales have been
applied TO drawing specie from banks and car
!tug 1t 10 Philadelphia To purchase these post notes.
ceposl,ors have withdrawn their money from our banks
and The effect of all these has been to compel
Them 10 their discounts pressure has io.
lowed of which merchants the bel iess victims
single fact will suffice to show that the failure OF
The Philadelphia banks. had been long premedsted.-
The GIrard Bank had taken its measures for soppage
with so much deliberations that on The very morning It
spped payment it began to issue, IN defiance OF Inc
law one dollar notes ready engraved and printed
The banks Of N. York, however we're never, we be-
ileve in sounder state Their vaults well furnish.
cd their discounts have not been large and their crcu.
lat1on Is small They can make head against the rhla
oephia banks now, successfully es they did IN 1902
and happy 10 be assured that il is not only their
Intention TO do but that such course will occasion
no contraction Of the facilities they have hitherto given
ther customers In SO honorable determination they
viii be seconded by the community.
Now that The catastrophe limited at by LaDgdon
Cheves The former President Of the United Siaes has
arrived hope that the Democratic legislature ofPenn
syivsnla will repeal the charters Of the banks which
have been engaged in this great fraud put their affairs
into the hands of commissioners and lay open their pro-
cerdngs to the light II will then appear that we had
good reason TO remark when Mr. Biddie abandoned the
direction of the bank, that he did j, because he knew
that the bank could not long 60 op-N r. f. Post.
-fFrom the same Of OeioLer1l)
The danger which should have incurred, had Con-
cress granted new charter 10 The Bank Of the United
States, may be estimated. With it's vast apparatus
Of branches in all the States and IN all the commercial
cities lis powers of mischief would have been tenold
augmented Its direction would have remained in The
cunning and treocherous hands, for Mr. Bddles
skill in finance too highly priced by the stockhod
to be dispensed with. lis powers would have en-
sbed il either to defy the scrutiny OF Congress or TO
brbe lis indulgence it has done in regard TO the Le
gsaGre of Pennsylvania, although that Legislature
Represents popua,io" hostile to The bank me oans
would have been likely TO be restrained IN lis
irregular proceedings by Congress- than it has been by
The Legislature Of Pennsylvania.
Suppose that under the same di'eclion the bank, with
new charter from The Federal Government-with the
same temptations, and infinitely larger iacies-had
followed The rash les there is every prooa-
oly il would) that it has done, is II not clear that
The mischief would a. this moment be immense almost
beyond that imagine the crash fiigh,u and the
rum universsl The of the bank, for years. has
oesn series Of indirec,ions artfu shifts, and mysef
Gus txpediens Had The short sighted cunning which
prompted them been allowed larger field, and more am
PIE means, il would only have entangled itself and The
s"ni'nuny deploIably in the work Of It's own
ceylcrs
as specimen Of the wretched insincerty with which
INC shaIso Of the bunk have been managed take the fol