Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-01-18


II viii be seen BY examining the statcmcats, thai The
coaition of the bank contrasts iavoraaE WIN "Ha'
va, lis condition at the last annual meeting ne CT
NJ l,.s haeu reduced about sever hundred thou
sand dollars and deposits the amount Is less y
.bon. 100000 The balance due from other banks IS
larger than il then vas. s s"pce; VIZ"
nronoro. 10 nc c:-cra.icn lalgcr than the iow pEe.
scrhas bs- Of course bccc reduced below the alouh'
Mold The Is. January l-89. y IS not kac"n 'hat any
~. sD, hag been ade daring Re past ye"T' OF 'ha'
re security for debts Of form years has oee'' M.
paired c..,4,,,,, so,,e carly
Ioerod hen the resumption specie payments is'i,
be safely commenced The directors o. tne pans anu
the remark is doubtless no less true {" inc -
cid 20 no part Of he community N theiF anH'e' io
,und and legal currency and they feel especially an
earnes. solicude that the notes OF TINS Danh s'9uiu y
ALWAYS convertible into com al the pleasure % ''
Blu, from what has been before sad, ana Tor o' e"'
sons which will suggest themselves resumption ot"'t
- b,,ts =. ,ha Srh or nj least o. those that
have susnendeG aic prepared Tor u, ana ia"oraoe
,;a:c o! trade bas bccm cs'ls''d "o"'" .
- the brnk and in il Consequences am
oppressive 10 t:c COMMUNITY i woa.d pace iHc IN
r,,i.r ,eccssty o. 50 c.rtaug is operations,
iiirt for time il would cease 10 be bank OF discount.
For II 5 who'll ont o: ne QUESTION 70 snplsS, ma ~
specie. at premium an! obligation" now "G'sta'S:!-
,scpcCnr The AMOUNT u coic n i,1ssess!on inc oahH
would or ough; to adj 10 It's liabilities ny dong any o"-
siness Whatsoever Ii the banks Shall DC reduced TO
such necessity or indeed TO any near approximation
TO it, the depreciation OF property OF every descr'PE'
and the interruption the commerce and trade OF the
State resulting from the denial OF te accustomed oaA
facilities would be carfuy and extensively mischev-
Gus The fact that New York has been able 10 NAM
tain specie payments, at no nconsderabie cmoarrasS'
,nent and loss mas: be admitted, and the greater
therefore is the credit which II rejects upon her, Goes
not imply that attempt 10 n:ta.c her example,
would not ipyoly. greater sacrifices Than fell % her
poran or hat there would be IN the end any certainty
OF success. Her position the great centre OF eA-
change is cmincn'ir N her favor Credits on New
York any pa: ofte country are equivalent 70 spe-
ce-at premium generally with reference 10 The spe
Gle s!aaiard Hence she is moi exposed 10 The loss oi
specie By domestic demands. She enjoys lesces other
nesuablc advantages, the fruits in TART OF her gigan-
tic enterprise, and OF vast portion u the public reve-
nue. of,yhch she is the depository.
The question TO the time when specie payments
shall be resumed proper 20 be considered By the meet
ing if be lis pleasure 10 entertain il; and the drec-
tory may be relied anon to carry cecrluy cut any de-
c!:-a:on Of is opinion
|, is ..re::r..as 10 know that: Notwithstanding the
susoe SIGN hank notes have dcpFcc!atcd, hr have
been maintained al theiclui value. contrary opinion
has S."m 2'r"t,nes y"niuccd, Upna superficial or IN.
accurate view Of the facts The large reduction which
has been effected IN the circulation OF tins bank, and
the reduction that is known 10 have occurred al the
other banks would prepare Us TO expect that the cur
rency was neither redundant deprecated. And
when the fac; adverted to, that the price Of all kinds
OF properly has fallen estimated with reference 10
bank notes as the standard-and that this true o
property the mos. saeab!e at al times, because the
mos; generally coveted, and of property Of the most
unreasonable value the obiigs.;c.. &C The Common
wealth, Cor example, it must be apparent, there is nc
reason 10 apprehend the currency to be deprecated
none certlily suppose ii TO ne redundant II true
Specie compared with notes is ~ premium; but thai
han~-~- c.. ,,.c uemai,u advances the price OF
bullion above what is pad for it Al the mat well
when notes il fact deprecated Ithappcnrd dhfing
he interval the long sus-sion in England, ti.a
!. -l-r