Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-11-06

fuse until after the election is over. The times are
good. The last seven years are the best, notwith-
standing the suspensions and the panics which the
country ever saw. Compare them to the previous Sc
ven commencing in 1919, and coming INTO Mr.
Adams Administration, and when the Bank OF The
y. S. in full operation: compare these periods TO-
grther and the difference Compare the year leu
when was first elected to Congress, and when the
Bank of the U. S. four years old, with the year
1910, when stand here addressing you alter ~ years
service and when the bank has been four years Dead
and count up the difference. Compare the pFces Of
prodnce property labor compare the condition OF the
people, the state Of their towns and cities, and the
state of the country. Compare all these thnis and
proclaim the result see many here who con re-
member things twenty years ago: who can reniember
tobacco bringing its owner in debt when snapped 10
New Orleans; pork bringing 81 25 per hundred; beef
bringing 81 80, wheat and corn hardly WORTH trying
to market; hemp no price; and calves xix dol
lars; fine young horse for merchant to ride TO
Philadelphia, S60 labor So month, and hard rgging
and low bowling TO get employment at that; and in
the country and lots in town. considered the cocst
property man could own not particle OF gold
TO be seen, very little silver, the banks shut up,
the actual currency medley and farrago Of every
variety Of deprecated paper; the National Bank in
state of collapse-and only kept alive from DAY
to day by infnsons of public deposites. Such was
of National Bank and long after. To those who
cannot remember, let them enquire. There are enough
to answer-enough to tell what the condition of the
country My friend here, (pointing TO Frederick
Dent, ESQ., Of your Vice Presidents, still good
Democrat, though a merchant, can tell you what
was the condition Of st. Louis, as well of the
try, in the year 1890 and for years thereafter when
we had every thing the opposite party now camor for
when their favorte men We're in power, and National
Bank in existence.
The times good except in particular, and that
is the fruit Of vicious banking, headed by the Bank Of
the United States speak of the Currency, and the
dsordered state into which it has been thrown By two
suspensions in three years The first suspension
in 1897 it was, so far as New York and Others
concerned the effect Of the deposlie act Of 1886
which ordered thrty-six millions of public money TO
be refunded and distributed by them in one year
far as Phadel phia concerned, and others, il
the effect of political designs and their pecu
mary condition far the mass Of the banks was
concerned they followed the lead of those in the great
commercial cities The controlling power of the
pension in Philadelphia, and political change in
the Government was the great object OF lis policy.
1t made the SUSPENSION it contrived, plotted and pro-
duced it. 1t took place in May, 1887. Three months
before, namely, in February of the same year, Inv
ted Mr. Van Buren, then President elect of the United
States and President of the Senate Invited him into
the Finance Committee of the Senate, and there
told him that the Banks were going TO suspend. knew
that the New York Banks would be driven to it by the
~
from policy and that the country Banks would all
follow suit, some for political effect, some on &C
count of their own situation | told the President
elect three months before it bursted, Of the lower
ing storm which was to salute his nascent Adj
minisraton. | told him of it; and he remembers
well what said and since the event, he often re-
peats what told him. All this was in February. The
mouth of May came, and with it the universal suspen
sion. This suspension was intended by its political
contrvers to last till the Presidential Election of 1e40
and they did their best to make it last but It mpos
sibe. The resumption of the New York banks in The
spring of 1893 and one hundred millions of specie in
the country, broke in upon the arrangement and forced
general resumption. This knew to be temporary
on the part of the political and gambling banks
knew that another suspension for the Presidential Eier
ton Of Is4O was the stone Of their pohcytha
the Bank Of the United States would again suspend for
that event, and for her necessities and that she
would be followed willingly by others. ! knew that
the New York banks would not suspend second time
that there would he SUSPENSION and NoSsrsPESsIos
flag, and all this wrote down and published in my let
tiers to my constituents in the years 1898 and 1872,
long before the second suspension took place. l
wrote and published it in ST. Louis in October,
Just twelve months before the event took place.
wrote and published it again in the months OF
May, June and July, in letters to my constituents,
four five ard six months before the event More than
this: again told the President that the second uspen
sion was to come upon him. told him so in the IN nth
Of April 1882 Just months before the event met
him near the lower oriuge IN GeorGetoWnj ne was OH
horseback riding out: gave him my opinion aud my
reasons he well remembers it all now, and often repeats
it, told him half the banks headed by the United
States Bank, would close their doors before met
arain-that Suspension and disordered currency was
the trump card of that institution and its confederate
politicians and that they daring enough and
desperate enough to play it-and besides, that the
bank was rotten, and could never do business as n
Bank again if she did not get the public deposites and
her notes made national currency. This in
April In the Oct. following the Bank of the United
States shut up and all the South and West followed
the example, except the bank Of Missouri which was
under Democratic management. Thus was my second
prediction verfed-veried in every particular-not
only in the general fact but in the Details in time man.
ncr, and circumstance.
How did know these thingsa How did know them
before they happened Because knew the men and
the policy of the men; because knew the institution
and the political designs and rotten condition of the in
st,ulnn, on which all depended. From 1c32-,he
year of the veo-to the year $780, panic pressure, dis
tress expans on, contraction and suspension the
order of the day with that institution, and III conrde-
rate politicians. To make mischief i'll the moned and
commercial world and charge that mischief upon The
Administration, their midday and their midnight
work. All this | knew; and thus, having the key
which unlocked the door to their policy, / was always
able open that door, and to read that policy. was
able TO foesee and TO foete every movement and made
no mistake about them No almanac could foreell the
turns of the COMETS and the changes of the seasons
with more accuracy than could, and did, foreell the
suspensions of the Banks, and the forthcomings of
hard times. If had been almanac maker, would
have put them all n-nade column for the eclpses Of
the Banks-another for hard tmes-a third for good
times Such an almanac would be of infinite value 70
the farmers it would enable them to know when to
SELL and when buy Its predictions about the times
would be far reliable and far valuable than
the astronomical predictions about the mcohtr. In fact,
said Mr.. B., it would be the best service could now
render the country to make such an almanac. Would
il not sell well [Cries yes, yes, yes We would
call it Bentons Almanac, and Bank Deector. [Cries
yes, yes.l 1t would make mistakes, and would
enable every farmer to know when hard times were
coming as we'll the bankers themselves, and their
lawyers and politicians. Great cheering, and cries
for the almanac.
Mr. B. said the currency the great question of the
age and this universally known to the Opposition
though did not appear to be universally known TO the
Democracy. To ruin and disorder ito deprave and
vtiate ito disgrace and degrade it, until people
would call out for KING BANK TO restore it, was
the aim Of pay to improve and perfect it, should
ko he fba and with this had those