Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-11-01

c,,6acncc in Banks continuing specie payments is
',iy established, and the Philadephisns are begin.
p IN drsgorge The stocks purchased under the hope OF
a,..d prices from irre,leemabe currency
49,. n sion Atlas of Monday says, "that money mat
80, ,rmarnrd OF the close of The week they were =
w. hanks there had been drawn upon for specie by The
Us Of New York, and checks on their own insitu.
refused in payment; thereby ubliging The Boston
Hnks send t" New York and demand the same specie
t,cs This constant transportation of specie forward
@ hack contributes IN no small degree, TO curlnl bnnk
DISCOUNTS "
.a an, hsh, upon 'hr condition of the times or the
s,.c,S al the banks We draw copiousy on the press
T Nv Yosk which treats more largely than others on
p,s statistics Among theR is the New York Herald,
u ,hs a7,h cit, from which we make the following ex.
racs; !, ..,
MI these evs down and has used gigantic efforts 10
ar, with her her fall the whole commercial snd
linking interests in the country 9he after rollrnness
y ra concesn, may be estimated from The facts attend
w me d,shonor Of her notes by Holinguer Of Paris
the bank had drawn open credits twice.
"a had twice covered them with available securities
Tn, last time her eiis were running very heavy Pa.
- and 10 them she made loan 10 the Mississippi
To,on Bank for S5UOOOo0 of their stock, which was
aid Tor one bali IN union Bank post notes, and the
ins, half IN U. S Bank post notes. This stock was
.nrsi to H",unguer, TO cover The exchange drawn
n ,hern and TN The receipt of which the bills were
Immediately protested The result is an utter ard total
UI Inc WINE clustering system throughout
h rrion IL all parts of the country ihuse banks and
= Airs v no have depended upon post and renew
ale WI, 90 down with the banks, while the other
hand all quarters we perceive some institutions and
ssrs Of dealers, who have conducted their affairs with
sam. reereAce To the signs OF the times, stand firm
b,le The storm sweeps by them. Such banks will be-
on doubt temporarily cramped, but the abundant crops
-, s,ready motion, and will soon afford medium Of
srrhange which wall degenerate business. From the
Wss, we learn that fsiust OF The OHIO banks maintain
ents with the fulluWinu or nj
Wooster Banks, Dayton Bank.
rhe crops Of wheat and pork in Ohio are very large
md IN, sound Banks will be enabled to xpa nd upon il
by pursuing the policy OF dlscounting actual
scons and refusing 70 lock up their means by renew
Ing paper OF those who cannot meet their engage
u,enis
The same appearance Of things is manifest at The
Suuh as Tar as heard from. In South Carolina u
The Sanks have So nded with lte exception of few
q ;he Charleston banks. In Georgia, the Savannah
Banks stand firm, and also those OF Augusta, with the
exception OF The Bank OF Augusta and The Augusta
Banking and insurance. Company. The Banks Ut Co.
lunstus have suspended "
The course before our banks is no plain and easy
and business will revive heallhy the wreck OF the
bankrupt institutions ard spectators is cleared away =
tn" position OF country money in this city, is the
greatest evil against hch business men have to contend
from the pursuu the part OF the country
banks Of shat policy whch The bankrups have endea
vofrd 10 force upon banks, viz: The employment of
their in renewing old notes rather than advancing
the crops solely. This policy no longer BE-
pe;severed in, that the city hanks dscounenance
II. by refusing 10 rsdeem country bills.
Another Of difficulty is The conflict still going
on between the new and old systems 1t has become
evdent that both exist the other ga
10 The wall The chef excellence Of the former The
sGiposed security which afforded 10 bill holders, by
the requirement Of ihe law Those securities are how
esrr like post notes. ultimately good but not readily
vsrtibe According TO report of the comptroller, the
following The descriptions stock deposited for such