Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-01-18
from ] SO - IsTs, SAY 8

zI55 5 5:zz s >
ENTHUSIASTICALLY SO
. 55@s
Such are tie amounts, and the str2atlor among
ard objects and the progress re increase Q: these
State debts. Having seen THESE notwithstanding
viewed the debt ~ lis gross and ~ rs deL21-he heAt
thing propose 20 examine !: TO see wiiat the States
received i; FOR such enormous Io5!!ties what
it is that represents these debts home and what
the debts themselves worth the stock nlarkct ci
foreign countries. And here car say IN greet, ana
with sorrow, that almost the whole amount OF what
the States received was Brtsh Cry eoods-mere BIZ
,,si dry g2ods::ol groceries. say II win g. Ell,
and with sorrow, tlat anost the whole amount Of wnat
the sxeen States received for their sterling bonds hear
ing sterling interest which will not be less han ten pc!
cent. to the people who Fay IL was British dry goods
viii ch have brcn sold Tor paper money 10 construct
roads and canals, and 20 bu!d up paper system banks
This what We have got !or i7UUUG,IuV OF sterling
debt. j he process was about tins: Inc bonds WEE
sold for BANK credits IN Europe or The Atlantic ctes
bills Ct exchange drawn upG" these cred tG III Ia
:or of merchants ~ :o5.. up the dry goods
the bill 81 exchange were pad :or 81 The merchants
IL paper maacyi aud this paper money, alter some
tame returned the banks rom which cane. thus
tue whole operation circle o! paper, gong round
nd round y Dape:, and ending IN is own extinction,
ana never emerging IRON lls paper CIRCLE D4t cCe,
and then 10 efec, i.aporta:ions of British goods The
goods warn out; the paper money mas retained 70
the place from whence came; tie operation is ever,
..d thing rCnlajas G.: the transactions b" the no.
6J3E 4 debt. is Gc:c@r interest, and the BANKS ca.
nails and road, v.l.c& raPsrss ~ he whole Of these
banks have ied once -ac mos: o: Eacn! l"cc IN t"o
v1Ys: Tie r-c.;.- part C.! the roads c1nas are IN
in she'd ana II .!cse Ia she'd srTcr1i are unpEoduc.Ee
nj tins IS i!e story ct the State Gejt7. The Gr;He1 q;
;.s.a !; i l,r. yy-5sa = east upon INC sa'UGo-s
-, 70: n,lt
debts are 40, cfen c rect debt Of the state. IN;
security GeGt incurred tor compan &c, corporations,
and individuals to whom the Stale credit that IS TO
saw the State bonds have been lent to enable them TO
build banks and make Improvements 0. engage n
some speculative undertaking, for which they had no
meaas u :hcr own part d the State debts II tins
FORM AMI that part becomes douoy objectionable to ne
from It's intrinsic unwaFth nc-s, and inherent vtons.
ness / have yet 10 discover, IN the constitutions OF
such Of the States as have examined for the purpose,
the power ~ which the Legislators Undertakes to
- tie cred ort!e State ;lct Is = -, :&o labor md
property 0! tic people 10 companies corporations Hna
ndv duals FOR Their ylte aoTan:a' ana = make tc
community stand sccUrt Tor re u ccss .; 'Her U7HcF
tatinvs cues, On the power the States; d3ay Il
where the authority canGy, tc shown and utterly de-
~ il IL the Can-fc.s =, tie United Safes As 70 the
" sG8n Of such loans rnd s.eag ;ys p. iat may %
seen n many instances, and osP'ca.y n soc :. utA
ern banks and aoore al, IN ccEa" T":iraad PToec.
n Flor da where the Leg s.1t!"c tUCcc.. first grained
cn1r,r- TO- ria road -. ponds 10
Lu ID IT, and wherein he corp at'rs sold the D"nGS IN
Europe FOR ran, then Obtained ff:ss on 0! Inc oht>
from Congress, thrr sold ;heIr'n their own acc'0i'
and afterwards demanded ~ ncs Tor the COM
acucg.acr. q: the ROAD. Tbs, ,1"cE! 81. rE're".s
ca:n Is 80, :..r ui. instance VII 81 .lU- ~ Cc.>!"r.
ii ii. .dr..1o =; ..ca loans a6G socgI - s
o,"- ,c:trre &c So say Csc. tie ~?
gthe. cnd1rs"fs, she MAJ = rlr ln' Gai te:r.~
ing t..ar FL IN uaEg IN o; az" w's''iH! Pr O.
oailty n gaeuGn. Tie ncnry obtained mast be cS-
pecsd ii All 1e, .ncsc constitute part q the Set"
ae..s s.. 80 c.::c: 6 'ca Congress F g cali
ID - provide.
Such are the rcpro5c natives OF the State dcbts.-
These IRE what States have realized n exchange
Cor their sterling bonds and sterling interest The best
or the banks are dong bn c; the best Of the roads
end core'g 10 ha.l.y paying repairs, management and
interest The mass OF these institutions and wcrHs
may be thus characterized: Barren banks, which cannot
;.n,i: SUSPENDED banks, which will not pay; broken
banks, winch canaat pay; unfinished roads ana ca.
AK - ..-ele-z. f7ished ones, which ei
thor their ou ners IN deG. barely paying tire
expense 81 pa.s, tic cost q: management, and IN
:crcst upor tie outlay. Tins Is -. @o.'1.s.on-
Thar ,alqe at hone IS shown hy Tie thermometer
ii In. stock market, where they Ean-" az al ,"e
.eUre~s below r7r down to the fre,z NJ Pp'nt G!
zero. In Europe although: ba,ss" b q" crcdt o!
:rv rate from MALT T. tfae-!ougths Of 'hriT
nominal yuiuc: ana dis is tle s"eA wh.cl tne re-
ccral Government 10 ne called upon u raise 70 Pa
mr. above H. for the benefit OF the holders IN Europe
,.he the representatives Of this stock in AmerIcl--
the banks the roads, and the carals-arc TO remain as
tLn are or 10 be galvan zcd INTO new nj OF epaehe
ri arirn' on Lv the bl"rE Of new a"Jte, contehctec
abroad L IS ID this that the assumption g u Dc
cainl~d--no not t!:e a5snmpt7n-th2t W3!d WI! '.'
10 sed here The pcn Ct lr. jefferson has z.a- pei
unon Il an Immortality Of ,nia:ay, ard VIII nc: g re-.
mated here The Public lands viii De invoked t1r that
nu,nogc; and BIZ ;I,s ,rdfecton the NATIONAL comm
vii virtually De presented gift 10 the cap ta SIS o.
i Europe: md 10 the capitalists only, but 10 the
stocL nhbnu fry asc-that restilrntal spawn OF the
funding and pa per sstems-whch having So often mae.
tered the Parliament Of Great Britain, next to Try
their hand on ne Congress Of the L. s. diversion OF
the national domain to the payment OF these oeSis "oulo
immediately raise them fur above par-would be pre-
sent OF 80 or 90 cents the dollar, and OF GU or "
millions in the grosstc the foreign hcders' ahd' VT
tually present Of SO much public land TO them t'
in vain for the bill say that the proceeds OF the amos
are to he divided among the States The 'naeotea
States vii, deliver their portion to their creators '
will send j; TO Europe; they will be nothing o.' .ne
Receivers General and the Sub lteasuFe.s " 'I
bankers and s,ocacbbc!s OF London, 10.
s,erG.n Tie proceeds o! the sales o. .ie anus WI.
20 u them, The hard money, wrong rom inc nafo
hand Of me Western cuitvaor, "! &c % tSsse iofe'S-
crs; and the whole influence u 'aeSe 'o'@'g"-'
viii he ;1Yaed tsv G!ec:oc 70 tGe enhancement Q!
~ r;oa NJ our puo!ic lands ana 20 inc prevention OF
49,. ~ ee of ali The laws which 20 graduate their
r;ca or I, Grant pre.emptve rights 10 the settlers
ne nov take rapid view Of the evils OF this as
umntou disguised it may Be with the cloak OF the
national doIa.:n for distribution, OF with the
drspery Of surplus revenue for division, or de2ose,
a:noir tie Sta.as. have already grouped into SIM
gle assea.b!age Of TEXTURES the rao.e prominent a!a
naIoae,e OF these evils and shall not stop TO a.'ate
infinitely upon them The bare Preseatas 10
of TIE picture Is enough 20 fiji the m:nd "a the
mos, painful and dsquIstng aPpTenens:ons' .e'
more revolving than 10 comPei the non-indspeu
10 incur bu.t5ens fer cscrs which they nave 7eaSeu