Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-02

M ~ for sir months, ending May, 1910, and
E p,,,;,,s Produce. Clearance Merchandise.
a. s5os, 444 lbs ,, W. ass lbs b
81 al. l5,i4s,56 lbs. 2,l97 ,243 lbs.
II ,ssul,s are apparent in all quarters The
E ta4 r,e canal have also greatly increased
EH ,,,l wealth Of the country is thus forcing IT.
FL ,,<,a all directions, in spite of all Obstacles
of New York. its merchants aud IT'S ira
i,wtns their money, their ships and the'l
Ell Al. While they are gaping at the antics OF
\. Congress, who, tor interested motives,
m -, excuses for borrowing money IN Europe
man vino are aiding the clamor for Bank,
{s# H., have nearly ruined New York 3y their
m s,.nce IN the Legislature OF TINS STATE
p meet. .nsc,s for a revival of business now are
The future promises no relief. The es-
III - he new Bank wall he the cause OF more
.,,,na,,cn of trade, and real distress than mas
IA ,,,oLen the public. The scenes OF misery ','a,
III ,,oessed during the tive years that suceeeoeu
iii ,hI,.bpsn, OF the last Bank, are to be rev'ieo
III .,,old caamities. The bill OF Mr.. Clay iof Inc
Il ~ = Bank with $50 100000, to be increased
$4,000, wall, from present appearances, oec'a'e
,,.r some mod ications. Al The same time, Tue
vi ~, Fillmore for the creation Of loan OF ST.
81 and the land bill of W. Cost Johnson VIII DE-
49, The remarks of Mr.. Clay upon nus OIL IN
III ,,ssry that he either does not know or does MOI
III i,hsr the situation of the country or the ope-
ii I his proposed bill commercially. The reasons
81 ,s why III. apital Of the Bank should he large,
III ,us He measures the capital OF the BANK ny
III .a IL time since the first Bank was created, and
,,,ula,ion. and the orient Of territory as follows
- established bank that Of 1876 which was esta
IN capital Of thirty i've millions, but inssnuc rs one
.ri, : TakiL then the capital OF that amount anu the
p d period as criterion, the capital OF oahk no"
II s, - millions. ..,
a curious calculation, and if the population
Increasing at the rate it has heretofore, It Will
: i pretty ..szeable" bank at the end OF the pre-
..n.u-y The next assumption IS, that the cap'tai
MA b. s0,0ao, 900, according to the increase oil
Il, since 1916 The wealth of this country IS com
LAS. U0,000000, and that OF Great Britain Al
4 roGou,OOO. The Bank of England ought there
4. % haze capital of S4o0,o00,0OO instead OF $50,
ol u present capital. Still more whimsical than
| . however, is the notion advanced, that the bank
I, on nj 10 he proportioned to the extent OF terrific
: TINS reminds US OF the freak of notorious wag
go.,oe who officiating at the Indian Queen tavern,
N, ranrer ordered sausages for dinner, requested
"a stand IN and be measured, as he wished to get
.sx,c; hprh, in order to know how many ''linas
,o,, Mr. Clay proposes to have the capital taken
hird by the government directly, IN D per cent.
~ redeeniahe III L. years, and the remaining ~ by
|.jy,.aals The government stock TO be said abroad
n. ne stated follows;
II M which dd not admit OF doubt tat tcre
dormant capital Tying inactive IN the country ana 'ia us
i, Nnl! invest il The bank, with suitable char
l. M; allow them do They could mol take up paper
FL Yck, ta great Barometer, without hnahs 'a' 'o"e!
t., and business scarce" u
!. macy ,s lying idle il is in consequence OF the
.,.o..lon : business, growing out Of the agitation
h. 4, hy spectators and political rari,zans nat
a,aey Is only waiting time when private enterprise
Il o. safe from the schemes of politicians, then II VIII
\, .b,,roei III the regular channels OF business No,
. ,s Of il will be paid into political Bank, to be
s.ls-sd !. the agents Of London stockholders. The
Su, stock with The Government stock must be sent
..l 10 be sold under The auspices of those at whose
!, alton Il was creuled In giving reasons why the
a; should deal in exchange, II is avowed that the OBJ
=: j.: the Bank 10 opolize the market, and an Ut
:ao!ance OF the details of business and the agency OF
37s displayed for which II IS difficult to account
TIL. bill, however with It's chief features, will, II is
zy h,ly probable become the law of the land as also
lie r5uilon bill reported from the committee by w.
llsnsor, a SYNOPSIS o! which we subJoin. We have
m 10 look forward to the probable effect of these mea-
,;.s apon commerce The books for the Bank are TO be
e,ea-c on ,he isl Monday in September when the go
stock wil! be created, and the remaining stock
p. C2on the market, offering to capitalists an invest
MT -Glranerd to yield per cent, nor more nor less
IT. ,"serren, 10 pay in The lst of January next,
!; f@0lo, aud when 81 ,000,0G0 additional shall have
Ter pad IN making Sl0,500000 the Bank is TO 60 INTO
o7410n. TINS sum is first TO be withdrawn from the
l,-'s, and in addition, probably the l2,0OUOo0 CO.
,an-n, stock about TO he issued for other purposes.
ll;w mlae So 100000 to be borrowed, as tirst
sP towards 'rel;rf' The first question IS, where rs
money to bs got. II we look abroad, we shall find
r- IN the foreign markets to encourage the belief
"a me L. S. per cent. stock will command par; less
I'm that, they cannot be sold. We then return TO this
1'ss and find that State stocks, the creations OF
%: gin,sr upon the market to the extent OF So
~ -, and large amounts Of them have been taken by
iiaSs temporary investment until business I'M
'oges This will mike S42 100000 If subscribed alb
',eled from The commercial capital of the county
sie now dull only because that capital IS not
7o.yed. II Il is paid into the Bank by January next,
: Bank canno, gain pay it out under IL months al
;1r>', during winch time the remaining $2o, 100000
constitute the Banks capital will be drawn IRON the
nk'is, making prospective absorption OF SoS,ooo'-
y oe,.e the B nix can move at ALL During the next
saisen months under this process, how can revival
iate be hoped for; After the Bank is fairly IN ope-
aon, 1t viii begin TO conflict with ether interests in
s'y quarter, and the capital of the Bank will move
'orgh channels different from any It before occupied
cannot settle into regular business for at least two
ars longer. The Bank is to monopolize the foreign
domestic exchanges. consequently all the present
rents fthat business will be broken up, and new
rs will be formed.
The Land Distribution bill is to 90 into effect after
nuary, 1912, consequently the frs, payment under il
Ike States will be made in July, lsi2 This will i'll
ne degree change the face Of affairs, 10y raising the
'cs Of the States, and of course increasing the
n;,on with the Federal Government for money
mi- these borrowing plans are maturing here, vas,
'nsc is taking place in Europe. 1t is impossible 10
d'c' the consequences Of the agitation on the corn
a. !, may cause alarm great as to induce large
rs n consos, and demand Of L. 5. stocks for in
'Jlp.lI IN nj
;esn capital would take place; but the market for
lion spoiled. The future promises nothing 10 en-
mage the regular dealer but every thing TO the gam
H.
,-LNIAN MILLs For sALE.-The subserihers offer for