Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-04-07

their party for th. PresIGcncy-"Gen Harrison, on
Gen Rum Thus ended this hoiserous fanaronadc,
IN winch principles discussed, acts OF the
Administration rcproved; suggestions for the rene
dy OF any evils real or maginary Surely, the peon!e
Of Marshal! Will act Understandings, having such men
| to instruct them. Mr.. Newman then addressed the
meeting. lie young and fiery Democrat, and .tG0m
| ms Provncla!isms you would imGcd atcly recognise
nm as true o! the Old Dominion. Re discOursei
oi matters and things in general: exposed the
tons OF the banks aud carried the war among the Aho.
| lttionlss "!nto Africa until his hour expired Col
Farrott, an old veteran at stump oratory, aud nla
too who h1s rendered the State service came on
the stand his hour chiefly occupied in defence
"t Alexander Hamilton, knowing we'll that i! his prin.
cpies iri, his party would 70 it'll them Col Parriot
was followed bv. Col I"~"r-"" h. $50 r. =. =.
to do "kaie with the v-ch.ngers, and entered
into exposition Of the laws of trade; that they
immutablc and eternal he showed that labor the
source OF wealth. raising exports which brought back
com; that the expansions of paper credit had gwen
fictitious value 10 the production of the whole land,
and enabled foreign agriculturls to enter into
| petition with IN markets; that they sold
their wheat here for paper dollar and took away
the do! az IN silver: that the e1travagant nporta-
ons Of foreign merchandise the contraction of large
debts in Europe by the different States, and the prrp-
tua drain of specie TO NEE. the Inege.. ;.o-c debts,
and pay for British ncry, the real the true ar.
the papble cause Of the present distress. lie th"n4
went into an historical review OF banking, from its
| first inception down To the present t!me-showIO.
that in all the countries Of Europe. it had been
an inflated bubble producing Grran cement, Distress
and loss-hr then contrastcd the condition OF France,
havin. bank, with England aud her banks
demonstrating that the increase of specie for
given tune. iaurnld in France, whilst IN Eng
land for the time il stationary. lie then
went into history OF the Bank of England, showing
that there had been three suspensions Of specie pay
meats; that IN the first suspension there were 2iO
country banks and that 81 bankrupcd; in the third
suspension, which lasted % years there We're 900 banks,
and 2i1 became inoolvcn aud that III" paper Of the
Bank of Eng land Was III TINT time al discount al
- - per cent or only worth so 81 .o7eycry $i0c;
thu, showing That bank concentrating all The money
| power OF Ens!and could not, her snail territory
mot larger than Vrgnial control local banks nor csc
IA sound circulating medium. Could then, q National
Bank do it, this broad Republic: lie read let
Of Mr. White cashier Of the branch Bank OF the u
5 at Baltimore, showing that Distress alarm and run
had pervadcd the money market, IN different parts "i
the Union, from :22 10 1870 lie was here arrested
by the Limitation of his time.
| .Col Kelly then came 10 the stand. never heard
this gentleman before, do ever wish 10 hear him
again he has OF the qualifications requisite Tor
pubic speaker he neither nsructs or amuse he
Wo,rcd ont befor his Time was hall uperc the Wings
were in CONSERVATION, they felt If tho day WAS
/ lost wien Il few Of thea called for Major Coed.
This increased the excitement, Tor many DID not Know
on which side he was going 10 speak ne lever rose,
and anticipated knock down and drag out argument,
when at the suggestion Of tic Democratic speakers,
the excitement was aaycd and the 'Ihlor went
on. His time occupied in explaining matters IN
relation Ia his in the Legislature, and III oppcs''
ton 10 the Sub Treasury bill 1t was mere re.iterf-
ton of his spcech in the Courthouse on the same sub
cct on former occasion, with the exception OF
.weights and measures which then thought were
LI1 IGa"yc aAneylSa&e. TIL" material objection urged
commercial trade of the IT, States, that the principal
mart of the Revenue of the Government was collected
there and that the tendency of the Sub-iTeasnry plan
would TO colcc. all the go'G and silver OF iEc coun
try to New York and that god had no in'rinsic vaGe
in itself except for crnGmeHS. Col thompson a'kG
FIVE minutes 10 reply He contended that gold had an
intrinsic ralue; that from the time Abraham pad down
his 80 shekcls for the field ii Nlachpea, through all
ages and in all times it was the standard OF value mat
the labor OF man had given value even in mixn; 1t
with alloy and preparing It for circuat'on;-h' men
refer To his former argument wherein he had de-
o,tra,ed tie Laws ofrade, and brought Major Goncs
objection Il, the Sub reasury tia. test he wanted /"
know # the balance OF trade was !" favor u -'e%
~, e .on,,-v hank notes would liGuidate that ua.
,nc,,r country bank notes would discharge Inc Va
r.i,s Of the New York merchant - the Brush manu-
IL they would not from necessity be CON
ncIl.d - return the notes the banks Tor redemption
~ gold and silrer-therc law OF trade More GER
am i, was only necessary to present 10 the mnu 10
have !, und, rs,ca! and believed.
"Mr Newman then rose, and in asirnin Q. tnaisha:.
elooucce paurtfayed the descrnn OF Riyes from a''s
pnnubl,cou party traced Iii; ,rcon 10 his rejection
bv the Baltimore Convention fr The Vice fres dency'
and con,rlsed the present associates, "!th ms !o'
,ncires and professions and showed clearly 'hat 10
had ,Jpuagcd himself from the Republican ranks 20
on. Wings, The day OURS, light shines n, ana '''e
star Of Democracy is IN he Ascendant