Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-11-12

q" has made every part Of It's machinery work light and
easily for The market and for the merchants and
banks Then iNrk % Tic rer"rei cnnr ta- n. tn cuG.
,rr iGr crops Description mast .hurCan,-na
pressure nr banks from then d a,fs 0, drposnrs-
for speceno want Of confidence in their entire
sovency-no drain for The precious metals purchase
Western lands-n interruption Of commemorative world
at peace, and every thing smiling and prosperous un
connrcl with The money market Why is il, then that
the Banks compelled they saw suspend cond
time, within wears, Is it moi manifest thai some of
right IN ls:l ), and again in s31 in uscrihng
tese arrangements al he currency delrcts inherent
our Banking system which we then enteav"r. 10 pnlni
out. and 10 suggest medps which had they heen adup
ted, would, verify believe. have prevent. the
renee 81 The eVi? Instead Of remedies. our Legs
lalurt (ncser mnch infested with the Banking mania
that of most of The other S,a,es give US pQiaiirss
and instead Of reducing already redundant Banking
capital, and confning its location 10 the commercial
towns on The seab"sId providing against the issue or
circulation OF notes under $50 800 making the stock
holders responsible in their private "runes least TO
extent and directing NIL The State be pnid
gold md snrer- took none of these precautions but
contenitd Itself with irw drlusive regulations of lille
or no importance, increased the Banking piIa from
something over six, TO thirteen and haf millions #
dollars, and scattered oil the STATE curupt and
demnralze the people u The interior here it could be
wanted ir no other purpose and where il will most Ger
teniy effect that.
"Ihis is much be regretted, for il makes the task
OF returning 10 the right path difficult and painful
Yet this mus, be accomplished, our plan uf Govern
npnt has failed TO accomplish Of its essential ends
The most crying evil of drspnsm, is to inhic, on
country hr evils Of nctua,ing and debased currency
II is an Intnerahlr evil and the wonder almost s that
people who self governed have horne with ii so long
Now The remedy is in their hands, and The only qurs
ton "a, hat measures ought to be adopted
sound and nnurm representative Of value, not lsb"
TO depreclulinn constant and periodical commissions:
In The FIRST place. whnreVsI is dune ought 10 he The
result Oi caim. enlightened Judgment after the subject
Z IL mol nu In
party question, he dealt with hastily lntPnPe
ratrly The interests which have arisen under The laws
establishing Bank charters, ought to be respected and
prueaed, far may be consistent with the necessary
rrfnm. or should The general good require them 10 be
suPerceded reasonable indemnify ought 10 be made by
,hr public who have participated 10 The general tror
In the next place, nothing ought 10 be thought u Inch
has been tried and iuund wanting The Federal Ca
vernment can do little towards The reformation Of the
currency, as long the States charter Banks on i'm
proper principles. Expe Renee has proved that Uni.
ted Stales Bank Conducted even with prudence and
caution can neither give sound currency nor fegu
late exchanges. This conclusively shown BY The
late Address of the Standing Committee Of the Demo
cratic Convention 10 The prople 81 Mississippi, that II
would be wasting words 10 enlarge upon II II the
rency is sound The exchanges must he very moderate
never for any length al time ce.dlng the expenses,
risk and loss Of interest incurred by the transportation
OF specie. IL unsound Bank or league OF Banks can
equahzP 1t. All The arguments in favor Of ) Bank
e. these purposes hay con,tadrcsd by nd'spu'ahIe
facts Besides regard that question serd TOR The
present and every attempt I" revive IT, or Ia setk The re-.
mrdy IN such establishment, will but lead Is away
from he proper md practicable Nor Will The
system Of dtpos!ng the public n"n-ys in The Banks TO
ad their operations nave any other effect than involve
The Government IN the general bankruptcy. The Con.
servatiV's themselves must now yield that point and II
sbe made apparent when all the facts relation
In The late dealings OF The Treasury Department me
To be madr known. The evil lies deep be affected
by these n"sruns and must be sought in a thorough
reformation Of The American Banking System.
total abrogaion, accompanied by surrender 10 thu &c
neral Government on he part oi the States OF the right
10 charIer banks, and such restrictions that Govern.
men may forever secure 10 te people uniform stand
ard of value.
THESE the great and vital questions for The Press
to consider and discuss aud cannot but think, II its
conductors had before his seriously turned their
lion 10 them. divrsed al party feelings and preJndces
should have escaped this last act o Humiliation and
dishonesty have myself no doubt, that the system q"
free Banking. when each partner Is known and is
sponsibe in hs private Ion for oil the debts
I'd is far preferable 10 that With which have been a
iictd; yet there many interests concerned IN the
present system, that might be better 10 amend than
supercede IL
sin The mean time the Banks owe duty to the pub.
lIc which hope 10 them discharge IN good faith -
They ought 10 render esor, 10 The shin plaster system
unnecessary by giving out freely small change, under
interest discourage these runVus expediens. The
tide is turning against them, and they will be over
hrlmsd It ihey unaccumnodaing or cnntumaci"us
~ouh advise them n friend not 10 irrare turf her
the already excited feelings Of The great body of the
people, and above all things, 10 beware Of relying on
any political party for counenance and support. Suie
Of N. IN have already committed great by taking
part IN the political squabtes "f the day; md this alone
would have endangered their existence II long con-
tinusd.