Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-01-02
S3,444,Gs 50
,,yo of fh. loopsi IN
SoA 396.01s 10


Nearly twenty millions these liabilities are paya-
BILE demand, while most OF the assets can only oe t.
allied BY very moderate instamens. How there can
be any hope Of success with the loan in Europe winch
Mr. Jaudon went out confidently 10 negotiate we 40
not understand Surely the Bank cannot borrow WIN
out collaeras for il could not eighteen months ago.
when its credit much stronger than IT - now ano
of collaerals it has but very small REMAINDER snoun
the of the Bank prove finally as good as we nave
estimated Them or better three years at least Will be
required to realize an amount equal 10 'he ciai's
against the institution, now payable on demand. :
Under these circumstances the effort on the part oil
the Bank to resume specie payments, and on the part
of the other Phade phia banks to assist IN DONG SO,
prepos,crous. The Bank cannot continue 10 pay spe
Gle nor pay ALL and it is shame that the currency
and business Of the country should be again agta,ed
and put in jeopardy for its sake The proper course IS
liquidation Justice to its stockholders and tho pup
lie demand that il should make make no more sacri-
ces to maintain appearances. The fhaoeipma oanhs
have yet chance to save themselves. we lear u
is their last and fther eyes not closed with scales
which exhibitions of truth can cause 10 iaii tney
must their danger and try 10 escape In rh'iadei
phia, although there more men, who thnk as We
do than dare tell their thoughts yet 1t ~ the way
with the newspapers and with too many OF the BANK
Directors to answer all such statements by crying
"hostility to Pennsylvania and her institutions. -
But we beg to remind them that fourteen monlhs ago
them the history of their present position, ano
declared all the prominent facts when inns ANALYSIS
confirms We beg them also to remember that all our
statements and predictions concerning the course OF
this bank and the end of that course, have turned out
as true as if they had been spoken by nspraton ana
ask them 10 inquire whether II an enemy tes Us ''ie
truth it is the part of wise man to reject It because
of lis source But il has been the lot OF all who have
predicted events disagreeable to their fellow men, 10
be- called enemies. Yet when all their predc nave
been verified it has been common to allow them bet
ter motive But what is thought Of our motives IN this
matter we can tell neghbors of Philadelphia, is Of
more serious importance to them than to u.s. we have
lost good deal by resistance TO the bad admins
tratisn of the U. S. Bank. But We do not wish
TO retrace steps, nor TO stop until IT shall cease
to wrong the business of the country. 1t is OF great
Importance to the whole nation that the resumption
about 10 take place in Philadelphia should be sound
and permanent. 1t is especially important TO Phadel
plIiu If the other Banks without the United
States Bank the resumption will possess IN some good
decree the public confidence, and will be compare
lively easy thing. But if the United States Bank IS
included the public dstrust will draw every dollar Of
money out of Philadelphia Immediately and place it in
situations more secure, and most OF will come to
New York. To sustain such resumption will re-
quire that money should be made and kept intense
ly scarce in Philadelphia For once, the interest
Of every Philadelphia merchant whether ne be a
debtor 10 the United States Bank or not, is obvi-
ously opposed 10 the plans of the Bank. The inte-
rest of every merchant in the whole country is
also against the Bank New York and Boston and
Providence, secure all are, not behind cotton
bales exactly, but behind principles of truth and ho-
nesty all these places will be agtated and injured by
the proposed resumption. We know that the Phila-
depha banks have negotiated their loan on the plan of
clnding IT, s. Bank in the resumption. But there
was pledge that this should be the case do those
who loan the money care, think, TO have it So
They therefore not shut out from the liberty of turn
ing which way they please.
KESrucKr.-Judge Pirte's resolution in favor ofthe
establishment Of National Bank, "as practi
cable" has passed both branches of the Kentucky Lee