Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-10-15

/ clever operation NUtr let what the rates ol
exchanges were in that same City in September, 1889,
tast wear The New York Wing (morc good au-
thori,y) OF September II. 1882 gives the following as
The rates oi exchange IN y. York at that time
Pennsylvania, . OF New York, ol
/ New IIarpsnirc GA Vermont, q |
/ Massachusetts Ga Maine Ga
I Rhode Island, cal Connecticut, o. !
New Jersey, par Ga / Delaware par, o u
Maryland Ga Virginia a J.!
/ North Carolina, GA , South Carolina, " >
\ Gcorrio ga ) OHIO u )
T kcutuckr, Il - tennessee, Il :
/ Thus l. will be that exchange IS much lower be-
tween The East and the West acithDH; tnHcd suites
! Eaak than il was ~ih n t"ited suites Ba"h what
ground IS there then for all tins c!amor about ex-
changes. But the mass OF the voters who iced thc
cities are but little Interested Let US, therefore, come
up from ISIS with the counirys history. and inquire
as We come along s,ephy step what the real condition
of the country from 10 year, And let US look
along and see how every thing IS sad t" hav" Pr"sFof
al under the auspices Of the United States Bank Let
Us 90 upon historical recordsiacts unGcnet and un
Genlablc
For "rca, number of years there has been journal
OF the times pubshcda Washington, called Niles Re
gster From the time that the Bank was chartered IN
lclG 10 The time that lis charter expired by limitation
Niless Register was identified with neither OF the poll"
teal particsit devoted 10 PLAN history OF events
they passed and lis testimony from week To week Is
therefore worthy Of being taken trnc and reliable by
Tie pcope Let then look into the Reg ser OF the
the establishment Of & : Bank 10 have had on til" IN.
!u,tral departments nf Republican soc ely more
than twenty years ago, and the period that us CHAR
ter expircG.
In Jane. 1919, Mr. Niles says
st sickenng To the heart 10 the lists OF persons
who are published weekly in the Baltimore papers, as
making application for Tie benefit Of the lns"lv"nt laws
of MARYLAND The amount Of debts due by them IS
enormous. A similar work is unhnpphy gong on IN
all the large cites and towns ot the u > lhey VINO
-. al, pE fhn IN rp-
siding in palaces, thus engaged IN sfffM" tlelr
debts and dragging many sober and discreet mecha'
MICS and tradcsnGrn along with them. The pressure
of the timcs-tlc want OF something to give circu-
lation 10 money, and hence The possibility OF max
inr reasonable collections, also prevents many, who
are really well able 10 pay their debts, from meet
iug their engagements: the facilities winch 'li"y
minht have relied on, on an emergency SIX ihohihS
ago being now wholly denied 10 them Shch IS me
borrid state into which unprncipled SPec""ton, COM
bncd with papable fra" in too many cases, have re-
dnccd our country. The paper system has seriously
affected our moral character, and enough OF pure rF,"'
has sometimes happened 10 single bank 10 send
thousand little rascals 10 the Pcnitentlary' ,o
Tapriaciplcd specuiotiom and Yaip"btc tr@nd-en-
couraced hy the 'paper system, says Mr. Niles
Ave. fheu he struck the root Two years had thch
ELAPSED since the establishment OF the ErcaI Nesu,
la,or stocks had fallen, and xcangcs had increased
at an unprecedented rate, says the nteiiigehcc' ~,
country IS IeuuCtu ~ D"'"' '''''''
Niles. ;, VII,
In his Register of April TO- 1872 Mr.. Nils sad
Froln all parts of the country we near OF se'e'I
pressure on men of business, general sta9hauon "a
trade large reduction OF the price OF slapie "'e''
Real prnpertv is rapidly depreclatng in It's nominal
value and its rents profits are RAPIDLY diminishing
MANY Eirhly respectable traders have become BANK
rnpt and is agreed that many others must go, ''
banks are refusing their customary accornmoa aos'
confidence among merchants is shaken and per cent.
T.,
notes which little while ago considered as gooG
rs COLI! gold and whose makers have not since sui
lcrcd any losses render their n"tcs less 'aiuaoe
than heretofore - a.
United States Bank paper began to work II .Icra al
the cold gold out of circulation. ii destroyed the
credit of men OF property, and by IT'S power % cur
fail rt.nd its issues al will, made thousands oil no
nest men bankrupts by coraGc.ng them to give per
cont per month 70! money with winch 10 lake up raoes
,h,t il held as consideration for It's paper hese
were among the first fruits Of the great heguIaio
In the journal kept by Mr. Nilcs-a faithful and &C
curate record of The then passing tmes,-"e hiu anu
ther evidence under date of August y loi9. u Is s
at is estimated that there are 2O,uoU persons "9
sL;ug work in Philadelphia; in n York; l0,OOo able
bdcd men are said 10 be wandering about the streets
locking for it, And if we add 10 them the women VINO
desire something do the amount cannot be less 'a
% COO in Baltimore, there may be about iuooo
in unsteady employment, or actually suffering oeo'
bpv
cent men, lately good livers, who now subsis on such
yctua as two years ago they would not have gwen 10
their servants i'll the kitchen
To what distressing point the people had then ar,
rived,-many industrious were in state OF actual
suffering for want of ood-and mothers were weeping
.r Tho necessity which compelled them to SEND iher
children suppcrless to their pallets of straw AND YET
the United States Bank-the great regu!ator-'hee
Grand machine by which all the debts growing ous o,
had speculations are TO be pa'd-was IN Inc iui
bloom of operation. The testimony is unImPeachaoe
1 the facts cannot be controverted
In the volume of MIR Nlless Register Tor lo2o' is the
| following 1000 ~ ,soo ron,
uHouses which rented for 1900 now, On lS@o) REM
for $50; Fuel which Il dollars, now costs o.
Flour which was and il is now -; beel . GEMS,
: other things in proportion II is true we now pay
less for these necessaries, but we can make no mo
nev The farmer has become as poor as ra'' the "a
bor of the farm costs him than the produce
worth c1,l iii,
Aye-Thus it was The cracking of new bank o Dill
to the ears of those who were making haste 70 &c.
was like the g word of promise by Juggling heno'