Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-09-10

Walter Forward of Pennsylvania, and Charles A.
WickliHe of Kentucky, Qor Postmaster Gencral) &c.
name these simply as they reach me. | ,hYk no
change will be made until after the adjournment Of
Congress-
THE RANKS.
The true maxim is, No National Bank and Prompt
Resumption Of The State Banks. All prospect ct the
former being indefinitely postponed it leaves The State
Banks no excuse Tor much longer procrast'nauon oil
their engagements They bound 10 spare M efforts
to resume Us early as possible The Southern Banks
will be able to discharge this duty, us soon as the
Banks of Baltimore and Philadelphia are ready. The
Old Monster being at lis last gasp, and having made
an assignment OF It's assets for tie p.heht oil It's creui'
TORS will present no invincibe obstacle to general
movement We hope arrangements will be promptly
made to bring about concert and cooperation among
the Institutions in Pennsylvania, Maryland, Virginia,
North Carolina &c. Public opinion begins to display
its salutary energies this SUBJECT large meeting
of the merchants and planters ct Decatur county in
Georgia have Resored, "That after the first day OF Oc
tober next, whole business transactions shall be
placed upon specie basis, aud that we Will not re-
ceive the of suspended banks in payment for any
debts goods or merchandise or for our present
CROWN crops of cotton.
| "Resolued, also, That we recommend the merchants
and planters of the adjacent counties to call meetings
and adopt such measures will have tendency to
unburthen the community of rotten and iredeemabe
currency.
The "Public Ledger Of Philadelphia, states in lis
Money Article OF the 9Th, that the Market of United
States Bank Shares opened the day before at New
York al 81, and ran down TO "a "Fowards the close
of the Market, prices little better, United States
Bank Shares closing at 81, being decline of per
cent the closing prices of Saturday Bills on Eng
land are held at per cent.-no demand. On Phila-
delpha, 81! 974. This (snys the Ledger1 is more
favorable than have witnessed before since the
suspension, and indicates that, the United States
Bunk out of the way there IS not even the semblance
of an excuse for Banks continuing their dishonor
able position of insolvency The trade and business OF
Philadelphia is greatly suffering for want OF an instant
resumption There should be cessation OF clamor on
the part Of the business community, until tins act OF
Justice and honesty is fully complied with 1t is no
part of the business Of the solvent Banks, nor is 1t
their pnlcy to wait the pleasure and CONVENIENCE
Of the insolvent They have been INDUCED Tor
wears in their unnatural position, and II they are now
ready to act honestly, should be brushed from exist
ence."
The Money Article of the New York Herald (of
Monday,) urges the duty Of resumption in similar
tone
The Bank of the United States having ceased
business and lis affairs gone into liquidation, the great
pretext for refusing To pay specie IS taken from the
banks of Philadeph,s In January last, those insn
tons protested their willingness return 10 honesty
hut alleged that they could not do 81, while the u s.
Bank remained suspended in their midst Their asser
tons were so far conded in by the eastern capitalists,
that they consented TO loan the banks large of mo.
ney TO supply the place of that which they alleged was
due 10 them from the U. S Bank. The resumption lasted
hut few weeks and the final failure of that concern
they all AGAIN suspended and have continued so up TO
this time The public have been taxed three to hive per
cent depreciation the currency furnished by those m
situons. What pretext Will those banks now find tor
continuing in this most disgraceful position DO they
ina zine that the public will remain quiet under the
present state of things: They may indeed plead the
authority of the revenue law but We apprehend that
public opinion will have much influence on the bank
movements these institutions had IN causing the
passage of that law. Not only IN Philadelphia, but
ihrouphout the South, the community Us moving en-
moss, 10 nut down bank rule. At Petersburg the re-
port of the committee Of the currency reform assoc alton
appeals strongly to the interests Of the people dscon-
tinue the present banking system. The following is an
extract:
be distress from 1919 until 1923 produced b shaving
lima mnne, cannot sci here Like produce
like effects and the Of things unless this
gambling in exchanges checked y the Legislatures refusing
suspension OF specie a.er nea JANUARY, Tue me s.
ecied by the Banks and Legislature Us h:hs Inc s' "p"
he taking four months bills on y York and
Boston, nj half per cent discount from me ace o. IN pms anu
selling funds IN those places nj three and half To four
per cent tereb making two to TWO and half per cent eN-
change"
"This states the evil in strong terms and the remedy
is briefly pointed out as follows
aeady The Georgia plan Of debts by
notes. making specie value Of the note The basis has had an
admirable effect exchanges .
This is The true course II the deprecated notes
continue to circulate take them for their actual value,
and no more. This is applying mercantile law, which
II is every man power to execute and s far better
than going to legislatures with the matter. The Bank
of Michigan has advertised It's intention to wind up ITS
affairs speedily possible This is the best bank in
that State and lis citizens will soon be in possession OF
the hes. currency in the Union.
We have received the lat No. Of a new monthly,
"The Bank Rcformer,' edited by Mr.. Edmund Ruffin
in Petersburg It's object is 10 d'fuse widely pos
s,be the principles and beneficial operation Of
honest and legitimate banking, and the mischie vous
effects and fraudulent practices Of the existing bank
ing system Of this country The fact s, that public
sen,men nj is rising in all lis force. and demanding
form. The opposition against National Bank is be-
coming more and more decided-and the claim for q
prompt resumption of the State Banks is increasing in
the same proportion.
Let the Banks resume specie payments and all those
complaints which hear about the difference Of FIX
changes and all the cant about the necessity Of Ma.
tional Bank, will cease.
More Unsmothering !-Ihig Deecnry and Dignity,
The Efigy of the Chief Magistrate Of the United
States has been burnt by certain Bank Wings in Elk
ton, Kentucky, and in st. Louis, Missouri In this
last Whip CITY, placards were circulated in all parts