Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-12-25

Wach snail give It's bills circulation through all classes
Asny amounts, and in all parts of the country.
Now another most important TRUTH equally well set
lied by experience is, that paper issued for crcula
Ion, under the authority with the sanction Of the
Government of the u s., does acquire and retain this
advantage of known and unquestioned character and
universal confidence. No matter whether the note or
OIL present itself in Maryland or Missouri, Maine or
Georgia, if promise payment in specie, demand,
anu that promise be supposed to be guaranteed by the
Character and credit of the Government, it springs i'm.
mef'a.ely TO value equivalent to specie. The I'M
press OF the National Government, connected with the
-c OF lis immediate convertbilty, stamps the paper
s mark Of perfect and universal reliance, because
he People in ali the States, alike interested in
'ae General Government, alike acquainted with its
proceedings and have like faith paper 10 which it
yves rs sanction. We to be called upon, there
' 10 act this subject with three important truths
Alde clear before first that paper circulation will
'hae among US; second, that no paper circulation
on'Tesal credit be furnished by State banks;
Ha That such paper can be furnished under the au
"sf''y Of The Government Of the U. 3.
IT'S under the influence Of these realities that it is
NV proposed to issue, TO some extent, paper curren-
y, according TO the provisions of the BILL Its uses
se expected TO be twofold. In the first place, al
10y stated, It will furnish safe paper medium, IN
so Isa payments may be made to Government of all
os ana taxes. Few PERSONS perhaps, sufficiently
oppressed with what would be the value Of this, in GER
IAN emergencies
- - 10 70 government are now TO be PAID IN specie,
= 'ae notes Of specie-payin banks. Let US sup
pO'e mat some exigency should come suddenly upon
~ country, requiring the immediate assessment Of
y, taxes and that the exigency should CON-
IT, az The State banks to suspend specie payments
:, posture Of affairs, how could taxes be paid:
=, specie there would be little to be had; of the bills
~. spece'paying banks, none. Government would be
eh by absolute necessity to the of paper rest
~ VI s own credit, and created for the OCCASION
, would nave no other resource. All must see how
H. useful the system proposed would be, upon
nsPpenng OF such an emergency. The Exchequer
oe found in operation and in possession Of
'.'a'' quantity osspecie IFS notes would have become
10 The public; it would have in addition to its
and its own established character the amount Of
whatever that amount might be, to sustain its
-. ua'on Ii would furnish notes for dsbu-seme nts,
6 receive them for taxes. With these means and by
i"'u and skful management though it nigh, be en-
/ sseo by the prostraton of other institutions around
~. would still retain lis own credit and that credit
he vivifying and fructfyng germ amidst ge
s.. 0sht and barrenness But this part ofhe bill has
naner purpose equally still important The
intended for the people well for the Co.
H. nt The Issue Of Treasury notes always redeemo
ban gold and silver and the Of them in payments
Treasury and in the purchase ofexchange, eau
+. Dc beneficial is conceived, in high degree, to
"a'!s commerce aud all tie business concerns of