Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-11-05

bills (ul rather Earrings for llem) on Eulinguer might
be refused bit rom apprehension CT increasing The
alarm that a.rcniy exists
81 he accounts Of the suspension in he S by The
Liverpool, must CRATE q great shock in England; and
perhaps hasten The suspension Of the Bank Of England
II II be not already cunsumInaled.
The Cincinnati Gazette OF The Goth, informs u.s. that
the banks in Indiana Illinois and Missouri in each
State, have suspended md others have not-The State
Bank Of Illinois, and its several branches determined 10
suspend they received The news from the Ens!.
The Shawneenwn Bank has also suspended
The Norfolk Herald states, that The Banks Of that Bo
rough twill !et upon their oars, until the Legislature
shall give The word for action. We still think they do
not cnnsnlt their welfare in this determination; fo
the injury they thereby ncting the community
must surely react upon themselves May of Pc
tersburg said 10 have given elaborate opinion against
any action by the Banks which has determined the banks
in that osn 10 suspend operations other than those spe
cihed by the law applicable to their case
In this state of things, whilst portion Of the Union
comparatively small in point Of territory but
siderable for the extent Of its TRANSACTIONS embracing
the greatest commercial emporium, still pays specieand
almost all the Banking Institutions OF the rest Of the
Union have suspended payments; embracing particularly
the mammoth Bank Of the United States, with lis capital
OF 30 Millions large portion Of which is tied up in
unavailable funds, in cotton, State Securities and bad
debts whilst there appears Immediate il even any,
prospect OF this great Bank resumng payments whose
stock has sunk down 10 20 per cent? whose credit is
shaken both al home and abroad and which it is known
has been grossly msmanaged, aud il is believed will
never make good lis capital stOck IL Is really novel
and almost refreshing thing hear from the great West.
ern Emporium. any whisper like resumption. We hail,
therefore, with pleasure, even the following onnuncia
ton i:om the New Orleans Louisianan Of October 24lh
ANTICIPATED RESUMPTION 1t is the opinion OF
well innin med that The banks Of tins city will be
compelled TO resume specie payments, should The New
York banks continue TO pursue their plan of redeemlng
their notes in cash. II plain that the business of
this city long be carried in a deprecated pa
per currency, while sound currency exists in the great
centre Of trade The losses sustained by all business
men in such state of things would be ruinous and
not 10 be endured The rate OF exchange against New
Orleans and in favor Of York will be in proportion
The difference in value of the currency Of the two cities,
and the consequent confusion and arrangement of com
mercal business, manifest to all observers We
hope the solvent banks in this place will resume al all
haz ards and lea their weak brethren shift for them
selves To this they must al last, and The longer
they delay The more excruciang will be the operation.
THE WIG HumJug IF the Day.
Some oil the Wing party presses must see how grossly
the Bark of the u 5. has been msmanaged-how 1t
was compelled by It's misconduct 10 lake The lead in
suspension and how dragged many other Banks into
The vorexAnd yet these presses are laboiing To throw
veil this pet institution, and 10 lay the fault of the
present enbarrassnents nj the door OF the Adminstru
ton. Why, wha' Magician must Martin Van Buren,
be- Is he TO blame for all this overrading OF the coun
try all this orerbankng of the Bank OF the u s.: Did
he make alr Bdde or MIR. Dunlap give all those ad.
vances cotton-and vest those millions in Unavailable
State stocks: Has he pressed upon The Bank OF the U
S. and forced it TO suspend, No man pretend it
not even Mr. William Rives, who has charged the
Administration with forming illicit connection with
that Inslitulion-yet when 1t suspended, his mouth
piece round upon the Administration, and
charged with compelling the Banks 10 suspend =
In a word, what has Mr. Van Buren, done 10 bring on
the present endorsements: Take any theory, which
the hgs have invented Is il the drain Of specie for
The Canton trade 10 supply The place Of Opium Is il
the short harvest in England, which has compelled her
Bank 10 ship her specie 10 purchase -FOUR Is II the
pressure that Bank? the pressure The Bank Of
the United States brought principally by her own
MISUNDERSTANDING Surely for Of these is Pres
dent Van Bnren accountable In the present case, there
is specie Circular 10 abuse no Removal Of the De-
po.ites; upon the State Banks Tor specie-no
thing which The Administration has done, that The
" hLs can fairly lay at his door. Their camor is all
cant. Their denunciaon is all for party effect
But must do many Of the Whig presses the justice
TO say that they have not abused The Administration,
like lie n. lnteigencer its followers Many Of the
Wing papers al the North attribute the calamity 10 The
Bark Of the u S.-Amung these, is The y. Y Journal
of Commerce, which exposes the late Manifesto Of The
Philade pbla Bnnksand places the saddle on the right
horse, IN the following terms:
''As to the recent suspension, the reasons are Incor
reety given The true cause of the Philadelphia
pens is the false policy Of her Banks since the
snr,ptinn They have been led on by the U S Bank
in a grand system of bolsierng and imitation Post
notes and all sors of ktng, shining, and shaving
rather getting shaved have been the consequence,
aud bankruptcy the conclusion Why could No. Ph,a.
delp MIA stand, as well az New York; The difference
results not from circumstances, but from policy. All
the reasoning Of the manifesto applies 10 New York as
fully as to Philadelphia; and yet New York stands and
nds spite Of the greatly increased and accumulated
difficulties growing OF the suspension a, Philnde
phia. The strength of the New York Banks proves
all The arguing Of the manifesto 10 be faacions and
shat suspension here was entirely unnecessary, upon
any other ground than Their own msma nagement. The
,ubc cannot be deceived about this however much the
funk managers may be. :" he Southern and South
western States are more embarrassed than ever Per
Ina so and the is that the Great Regulator has
lI., cnpiinnnllv nnnviuy iIs bellows them. They
have followed the wrong policy of the great Bank OF
Phllade phia While such policy continues, the coun
Try will remain insecure II is indispensable for the pub
lie peace for any of celanty in mercantile calcnla
ceived its deathbow, and is making lis last strug
GLE by producing suspe nson Of all the Banks in Phla
dephla, instead OF the bankruptcy OF one
The Globe is rendering admirable service BY laying
before lis Readers The Kentucky Resolutions from the
pen Of Mr. jefferson md the Resolutions and Report
Of Mr. Madison in $3.50 They The Law and the Pro-
phe,s OF The Republican Party They are The great EIe
nenis on which Governor Folks Inaugural Address is
luundrd-and which alone the Federal Government
ought 10 be administered We shall as as possible
initiate The example Of the Globe, by republication of
The same Documents
Ia lie Editor: "FAYETTE {. H Oct o. 1880
In looking over number Of the Richmond Wing
some time since, discovered that the enlightened Editor
Of that paper had found out that Whggery making
rapid strides in the Western part of Virginia! Now, Mr.
Editor convincing proof Of The profound knowledge
of your neighbor the street. will show give you
Tor example small specimen Of the rapid progress of
this m;scalied WhiggPry Mr. Bober Thompson in this
Senatorial District composed OF Of The Western coun
lies Of Virginia has beaten the Big General counties
n The seven This will show what rapid strides
WhigEery is linking West Virginia This district, you
will TecoiIect has bren represented by Wing for seve-
raj years of opinion, Mr. Editor, that in The course
of is months very few men in Western Virginia will
suffer themselves 10 be called Wings. Look a, the
Srannton Convention for instance Why is one OF the
most complete failures ever believe the county
Of Fayee represented in the Slaunton Convention
bv gentleman from Ohio county. 1t fine thing
tha, some person represented there as we could hardly
a,ort one from the county OF Fuyee.
FOR THE ENQUIRER. .
SIR Rires' Speech at the Louisa Dinner
To UiHiam c Rires, Esq No.
The most farcical and ridiculous portion OF your