Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-12-08

Dart that he has duly weighed the SUBJECT, ana ia"e
nm his mind irTeyocably, 10 the course whlch II -
his duty TO ursue A high responsibility rests "p'''
h;m md Il will crafty Ill homes, men TO see hih as
charge i. firmly ani iaiihni'y.
We ono,e tEc article in The Pennsy lvanlan:
,:PrlisnrYIo, or Sprcir PAyHE*Ts.-ihr deep m
c,,, on ibis subject hy al classes Of the com
,,nn.,y Is abundant proof Of its paramount import
nnc, n IS ~ no means surprising ihat Ii Is s'"t"
~ different lights By dii!rrsn mt individuals. J." NV
mir, Loul. men, tie 18th ui January appears 70 'e
day irau.ii. w'ta run and distress "'', ~ s -,
ccars,rIr.i Democratic advocates OF tic iaw 'n %
t,,, r.or,u II seems to b. merely day Wien US
,,c. long drlayed, 10 be again measured out 10 ~
ncon,e The cxlravagant notions OF tue nahS par.
ANS would astonis Us, did We not 50 aeii "i'h'sS
,Irir J.luson They have made propositions ~ Va
;os quarters 10 postpone the day Of resumption ior
;x months Tor year. and even for longer peii'a'-
correspondent o, ncighboring paper profess n! "
be Democratic has suggested the posiponemen. 'oi
wear, and even INDUCES tue hope Of op'ainhk '"'
,,ct;on of the LEGISLATURE and of Governor Porcf.-
No one who will take the trouble TO read Governor
por,ers letter 10 the citizens OF plltsburg, wf"
during the month OF Sept last, can Tor moment enter
tain this belief In that letter, the Governor staee u.S
tincty that he would yield hs assent 10 any IL" ~,
Ike further ofthe resumption tie staten
also that the day fixed, in his opinion, 100 rt"e
~ the time aud he could not and would not postpone
By this letter full notice was gwen I" lie banks AZ"
Ia the public of the course The Governor would pu'
sue and if all are not prepared for II, The ianli h
lonas ,o them ar 10 the system which The banking
institutions are organized. We have awaited our
selves of the opportunity afforded BY Inc VISIT .! te
Governor this City, IL ascertain whether iiss vc"s
on this prc sc subject remain unchanged; and II aiofus
US much pleasure be able To assure our readers on
the best anth0ry that postpo3eneHt oi The day :"
resumption beyond the 18th of JANUARY next, '1t re-
csce his apprebut0a lie is ANXIOUS as any one can
he 10 relieve the community from embarrassment ana
I - n n tIn X
mode Of mnscrng this relief 10 entail upon u' Tor
day longer than is already allowed, the hopeless evs
of the present suspension. The Governor anu NJ
friends had confidently believed that after his rms
burr letter above referred to, no idle hopes wohia Dr
induced by the Banks of any further acquie on
The psr, of Governor Porter in the present suspension
bu, if they are determined TO dendc themselves ana
10 try dc udc the public, IN the very teeth OF the
Governors assurances TO the contrary they must oe
permitted to soacc themselves with their ow folly
and learn hen the day ct trial arrives how utterly
qronndlcss have been their anclpatons
The article "in paper protesting IL be Democratic,
is a communication by friend of the Philadelphia
banks, published in the American Sentinel, journal
de voted 10 the interests Of those corporations we
cnpy passage two, which the confession IS made
that the IT, $ Bank and certain other OF the Pmiadc
uhia banks, cannot pay their notes without help:
orhc Bark of the L S is unable 10 resume on her
own resources on the day fxedhy law. Certain ether
Of our institutions are equally unable 10 resume. ms
is The fact Al fundamentals IS useless All attempt
N disguise the truth By false prernslons IS IDLE ne
iutcinus and sensible portion Of the community, as
we'll here MS in New York and Bns"n, know the train
of these avcrnents. The two last named cties III the
hone Of netlinr home considerable debts IN specie,
which were incurred by onr citizens in paper, may be
wiling TO hazard III: loan Of smaller sums To these
Banks their post notes 10 be immediately discounted
here and converted into specie on t.:r transient re-
sumption 10 bring il about but they we'll know that
any such movement by institutions would betray
.I. Ia hafh tsitr
| They we'll know that the of resumption Of
ISIS was, that il was based on the same iailacions
pr,ncp!c uhough in different fnrm) that IS adj
| vocaed hy them ior their own interests.
sin our vew their duty is plain. Let the Direc-
tors Of the United States Bank make fair and full
statement of It's condition Qhc days Of drluson are
pasD To the Legislature OF the Commonwealth soon
as it assemblies, showing the efforts they have made 10
conform the law; let them show wherefore they nave
been unable to accomplish their wishes: let them give
such pledges from men oil Their standing viii CON-
mand respect that they will, honestly aud zcaousiy as
they have done, pursue the course most likely 10 bring
the immediate abtie and active means OF The bank
into Just ratio with each other; and ask with frank
ness OF manner and integrity Of purpose for such an
extension OF time, in the present suspension lay. rs
will enable them put their institution III CONDITION
to meet rrquisilions This could probably be accom-
| plishcd in another year.
There is great deal Of truth in the first OF these pa
rarraphs The l.. 5. Bank is III dcporahlc condI-
ton and one of us Philadelphia sstcrhood, arc
in no better They cannot pay their notes, as this
champion Of theirs truly SAYS, unless money = gycn
| them 10 do il. Lend them money enough and thry
will paw their notes with the greatest ease, but then
there Will be little difficulty about their payment OF
! tho loan
I When the Philadelphia Legislature sanctioned the
fraud OF the Pennsylvania banks until the 10th OF ia
nuary we declared conviction, that as soon as that
time should arrive, the banks would ask for another
years indulgence. 1t is but six weeks t. the 10th
OF January, and the banks, hopeless Of obtaining the
money 10 uay their notes from New York and Boston,
are beginning to talk Of new nterposon Of the le-
gislaurc between them and their creditors. How long
is this game 10 70 on: Is the suspension law 10 be
newed from year to year like a lease:
f. 49,. T.Io.-o-- ,.7-1I,-1