Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-12-03
rANE Nnrr CALCULATION.

The act of l22i placed restrictions upon the banks
which intended to proven, the possibility OF ano
Their Suspension like that and another 10
an irIadcenable paper currency, which had inflicted
sucl. deep wounds upon the people of Pennsylvania
their indnstry-thcir prosPerity-and hc!r happiness
This provided, that Goe should be issued ty the
banks rechartercd by il of lover denomination than
five dollars. This the deliberate sentiment ola De-
nocrGtic G0reynor and Democratic LEGISLATURE cmho
dying the unbiased sentiments oMe Democracy of the
State. II uas emphGtcqtya Democratic measure
By IN act of the llth OF April, lc27 the banks Of
the State prohibited not only from issuing or re-
ISSUING any notes Of lcwcr denomination than five
dollars BY virtue Of ans construction given TO any act
Extending the charter OF sucn bank but also after the
first Monday Of September, lS27, from receiving me
notes of banks authorized by the laws OF this STATE
Of lower denomination than fig dollars.
This iraS also Democratic
On the 18th Of April, lS2-, was passed the TRUll
DEMOCRATIC ACT, prohibiting the circulation Of
all notes ocvcry description under five dollars thus CIV
n@ 10 Pcnns yvana solid sdrcr circulation, IN place
of the paper trash which nundang our neIghbor-
mo States No act was ever more Democratic in its
prncp!cs and It's results and act has received
a more unqualified and hearty appreciation from the
community 1t has stood the test of nearly ten yrars
experience, and 0nr suspcnslon and II will remain
landmark Of the Democratic principles and practice OF
that Democracy which laid the oIndatlonstone OF
sound currency, and elevated to the Presidential char
Andrew Jackson who has done more to free the peo-
pl, of the United States from the dominion of Tho
moncd arstocracv th., 49,. ",nrr individual whose
name = ;o--.:s.yu'on the page of history.
This act has been aDf0"ckcd by NIL SHrr6CdBg iCgisd
farcs and gorcrnorS whether Wing Democratic, al
though the close of the session Of l~:}- organized
plan formed 10 repeal H. expose and defeat which,
we contributed our hunbl but honest and sincere ct-
forts.
The act Of 1928 carried the principle of prohibition
as far as was then pactcabc for owing
standard the gold coins of the United States drawn
from circulation. Upon the reformation of that stand
ard in 1884, and the consequent influx gold, and the
common of gold coins it became matter Of policy
extend the prohibition to all notes under twenty dol
lars 50 as to allow the quarter half and whole eagles,
10 supply the place of tn" five and ten dollar notes.
This he pT0PoSition Of Gan. J0ckSon, IN rhose pa
rty intelligence ead pairio'ism, tie ho"cst trcemea Of
PcRn<yrnRo. hire he mast Implicit confdcHcc.
This viii give To the mechanic the operative and the
farmer entire specie circulation for all tn" ordinary
purposes of life whilst the notes of twenty dollars. and
upwards will be reserved for the purposes Of commerce
and more extended business.
All wages will BIZ paid i'll gold and silver, and all ar
tccs of food and the ordinary ncccssaries OF e VIII be
purchascL and paid for in the hard money. The
poor will have his hard earnings secured to hun by
the OF actual money instead orag promises TO
pay, which may be worth something or nothing, accord
ng 10 the ability and willingness OF their issuers We
are bound to secure the industrious classes OF society
against The increasing efforts If wealthy specuato;sani
soucs. corporations wrcst from them the fruits of
their labor and il way W" 10 il etcctually,
rs hy prohibiting all notes Under twenty dollars
The direct effect ofts prohibition will rlso Ec to de
crease the bank issues and Of course 10 reduce the pre-
sent amount opaper money. and al the same
time give each bank larger quantity of specie in lis
vaults sustain It's remaining circulation and to pay
its dcposi.ors.
The increase ofpaPer money is the great evil Of the
dav-its reduction would be OF the create bless
ngs-and no single act would more certainly produce
it Than the entire and total prohibition ofthe circulation
of any notes within the State ola lower demon nation
than twenty dollars.