Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-04-20
From he Gio6sl

We have been preparing the public mind for the new
panic which is in rehearsal, TO he played OH at the
called session. in mid of the Bank Bill the Distribution
hill the Tariff BILL the Fourth nstament bill, the Five
Million French Claims bill, the State Assumption Debt
BILL etc. etc. etc. All of these measures require the
aid OF q new panic and n distress. For this pur-
pose bank suspensions are continued wherever fede-
ralsm has the upper hand, wages are reduced prices
lowered small notes multiplied, and every effort made
by Whggery TO destroy the constitutional currency
But the great effort is 10 break the New York banks
They have been successful in stopping many OF the
country but that won't do: the city hunks the object!
and if Whpqery could succeed in stopping them, then
general and permanent suspension could be peipe-
uated until the people would submit to the establish
ment Of National Bank Such is the diaboca designs
of Federalism The Bidde Bank is still at the bottom
of the mischief; and, with It's stock sunk 10 - cents
the share and its paper at 90 per cent discount II IS
vet strong enough TO plot and to execute mischief
AGAINST ali the good banks, and especially those OF ~
Rut the prospect s that these architects OF panic, DIS
tress. and mischief, will not succeed-that the New
York banks will weather the storm; and, far IRON be-.
ing broken, will become stronger from their honest ana
wise course in preserving specie payments Inc loi-
lowing article from the Journal OF Commerce IS cheer
inp and satisfactory and shows what New YORK has
Gained by being honest Specie flowing upon her from
all ouarters-more specie than paper-exchanges nn'-
yersally in her favor except acifh hard money CAOa-
FOREIGNERS and Americans transferring their business
from Philadelphia to New York-her merchants and
citizens free from distess-money penty-the borrow
ers from the banks all ready to pay back any day.
Such is the picture of New York, and all the fruit of
sticking TO hard money payments-refusns to follow
the infamous lead Of the Bank of the u s., which has
brou ph disgrace real distress, real misery upon all Inc
cities and States South and West, which have been
subservient to the infamous designs of the party which
is in favor Of bank suspensions With these few remarks
we recommen nd the article to the perusa of all good c
tizens-a who wish to see the new panic end In Inc
disgrace of its contrivers and ploters.
FIFE TnE Pos y ( ' Of S { s' YORK.
We hear from Philadel pha and other places Mt the
South that the Banks of N. York wilspeediy suspend
specie payment This report has been so confidently
circulated, that it has, at least IN some sma
embarrassed exchanges in this city The citizens OF n
York suffer less from such error than those ut DIS
lance who deal with us, yet the injury is general ana
should not be inflicted without at least some plausible
ground TO support it, But do notexpect TO prevent
the repeti,on We have no doubt many men are very
sincere in believing that the n Y Banks must soon
suspend Perhaps the fact that write this ace and
so show that we care omethng about the matter, Will
confirm their opinion Those who choose to believe US,
will have the benefit of the truth There is nothing IN
the state of things at present which mas the east Ten
dency to produce suspension here. Specie howing IN
from all quarters the exchanges of the whole world
are in our favor with the exception tmay De, oil Cuoa
The paper held by our banks almost all OF i mercan.
tile paper given for actual purchases, and VIII De PAID
al maturity and very little of it has more man ninety
days TO The merchants are so VI he'i
circumstances that the whole loans of the banks might
be paid in without producing any very great distress
Specie as plenty paper What then IS the cause OF
suspensions, We shall not break because Philadelphia
breaks, Baltimore, any other city Their course I'M
poses no necessity upon but rather brings US strength
Tn. uncertainty about Southern currency making
York, more rapidly than before, the settling house Of
the whole Atlantic coast Indeed, we understand that
it is no uncommon thing for transactions in phadel-
pha to be made payable in New York. though neither
nFf Tho Ipnd dino
houses in Philadelphia and further South, have found
it convenient to open accounts with Wall street banks
and keep their surplus funds here. Bills OF exchange
drawn in foreign ports any place upon our Atlantic
coast, very extensively made payable IN
New York So, taking it all in ALL those who look
for The dishonor Of New York, will find the result
they anticipate, receding further and further from their
grasp.