Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-02-01
RICH MONDE.
MONDAY MORNING., FEpRuAny
Resumption dsy-Smsn .Nste Bill.

Resumption day-Smau Note Bill.
This is resumption day-the day, when. after
long interval of suspension, the Bank, have unss,
taken to comply with the first condition of ava,
Bank Charter, and that fundamental eona;,;on
without supulating to comply with which. n,
Bank has been or can be ehartered-nsmelv. IN p.
deem their paper, having no intrinsic value in sol,
and silver OF universal value in all ages ard conn.
tries.
We may expect TO see some excitement aroma
the Banking Houses-the excitement of eur;os;,,
at least-but no one anticipates any serious RIM
lar less any serious inconvenience TO the Rank.
When Charles tho Second was restored MI f..
land SO lately in battle array against him. ,urnee
Out 10 reeeNe'and welcome hm-so that the merry
monarch exclaimed, "what fool have been no
70 nave taken possession my Kingdom before :,
10 apply the moral of that lacetious Kings wit
the Banks we think, will say to-day, "why. this re-
sumption is but simple thing after all; we hsv,
allowed bug-bears TO frighten us.n
The safe resumption of specie paymen,s-,s SAT,
all conhde perfectly it will be-is regarded =,
very important step in the redemption of m,
country from the ruin and prostrnt;on or H..
jackson era-that step indeed, which. until :,
be taken, commercial confidence oanno, I'D
facilities cannot be known, enterprise cant
launch out into action, and ssheral proSpfty
cannot be felt Banks in tbs country have
become Of necessity (wofupy, we ar,f the
lew who thihk) the baromeie$ of its busns, trade,
prosperity and happiness. When they te cromp
co. all are eramped except the capital, who then
reaps a rich harvest o. per uts-hen they are
distressed, distress vgeneral-wheythey are easy
and pr6speFSus;s the. cnumyd'y where they
are established They are, in S'fr'", Jt9rNbi.
tiers, the exp<ents of the shal eondi,ion-J
either lom saoice or necessitvall men are comp,t
ed to regsd them in this eooiry with extreme
/ licitudefor they have, measure, each mad
fate iyfher hands. Vsinia is an example. AID
mount that a comnvoity may be greatly distre!
~ Its Banks are gstressed, however great its g
liabilities, and ho~@ver successfully they have he
TAXED for producaon. What a vast powsr is ,b,s
no less than to create or destroy countrv,s ,,,o
penty-trusted TO n few hands! How diIi,er,,,
hithtuliy, sNuPulously and conscientiousv ougt
sleh power TO be exercised, upon which Pee
Pies happiness is SO dependent! How a,sr,n,I-
has It been abused in this city,
! But let that pass rs irrelevant now. The R,rL,
resume to-day, and it is in the power of the Con
7
Assembly TO secure permanency TO the rnov.
''e"'' nd extend the greatest relief In the vho,
oy authorizing them to issue one ,rd ~,
uo"ar notes. y proposition to that ,f.., =,
iea'ea by culPable maneuvreipg in m. S.. y
the close OF the last session. WIZ,
WY the State has been flooded the mas
tiur.- '"e sl'h pIasters Of the Cohens of Raj
,t...-' "''u Tue BALTIMORE & Ohio Rail Rood-.b;r
no Oh, winch all were compelled 10 receive g,
mill tho S,,,s cond be had-shin plasters n b;ch
" 'A'ryland the Other l,,, -
sene'Ou' justice suarant>' were No, -, W."
al least OF the Rail Road, 40 I'm 'i'oSe
which, but for that guarantee, must 'he ioo' and
serious loss 10 many poor people. Our cas'oned
Banks were denied the privilege bv ,boss s'"a
Statesmen, Messrs Bouldin and Exrr, S,o;,l. ge
meeting the demand for change bv issuiro, s,,,,l
notes, and the Cohens Immediately st.nned i, 81,
suPpiIed The defect! The direct effect has bo.r ;,
transfer 10 their pockets instead of the yi,g;n
Banks, the whole interest On tie issues. and so,,
80 or $4,000 for lost notes. wear and lea. n
&c. 1t Is no wonder that in Contamination ~ 49,,
legislative stupidity, citizens from other STATE
P'eSS 'hef~ A@azement, and her friends the mel,n
N"O'y aPprehens'cY2S that Virginia will die of an all
1'la''l0n such hnaneiSfauai,aiis .B9wsyer, is full
On par win that Of the Jackson ,4amins,,,,,s.,
and era generally.
ne small note bill, authorizing our own R,,L.
10 issue for the present. notes of the de,or,;...
oil one and two dollars, is again before the 49,.
azure we say for the present, because M ono
ueH"es sueh regulation TO last after the financial
u'lhcuities oi the times have ceased. ITr,u H.,
Pe''ou' IS universally regarded by busine,, rosn
as Of the highest importance, TO sustain IN, RI.
and through them the interests Of all
1t cannot be denied that this is , nsriod 49,,
'"e legislature should extend all the aid in IL, nov.
'ghten the burthen Of the times. II is ,bs Lac,
Per'ou al which distractions should prevail ,s,n.,
common sense and the general safety. WIN, ol,.
Jeeuon, on principle, is there to the iss,. or 90.
and TWO dollar notes, that does not son,it, -,
70 every denomination They are eou,Ilv Con-.
VertIble into specie, and far more useful IN n.
y oay htue transactions Of all, and espeeiallv oC
the poor In this instance, they will afford III.
most important aid to the Banks. with who's. o,o,.
Perily that Of the community is so st,or,,,, I;,tsJ
we are aware Of but one even plausible obiec.
'on' ana that IS, that they will pro ianto, diminish
Tue circulation ofspece. Were it so. vber, il tho
dHsrencei If the holder prefers specie !, i. ri.
option to get it, Few, If any, will prefer specie.
u they do, there will be no difficulty in making ,bs
exchange. ''"S '"e
mere are near two millions Of small notes in cir
cu'A'ion IN Massachusetts,. in that State the B,nk,
nave not suspended specie payments since the Gr.t
resumption, and specie is in abundance circulation
experience - superior to Theory.
IL a city correspondent appeals TO the Peonl,
% richmond IN strong language to elect 10 IN,
House OF Delegates man who will reprs,en, ,b,,-
who knows Ia -irfeelings, wants, wishes and oo;.
nion'-who sympathises with thsm-and who from
his position IN life, il they suffer, he mus, suFs, 70,
IN short we suppose he means a man. who. bav.
ing his fortune yet TO eS,iblish s net placed abov,
Just dependence on those he is deputsd 10 RAM.
GENT THIS doctrine IS we'll enough. II il shall soi
''verge into that most damnabe Of all the sboni,,
the r'eh-ihe- the array Of the Door ao,ios
weakness Of human naturc,-dieh. is an inbs,.n
70 ne'on productive always Of blood and ,,ngbt IN
and which every Patriot ought to frown dr.
more Indignantly than treason itself
The TRADE agaips, lawyers, is unworthy =, ON