Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-11-15
Z | CHI NJ ON ID:
MONDAY MORNING. NovRMnEn,,
REsuMPrIoN OF SPECIE PANMRNrs

RESUMPTION OF sPECIE PAYMENTS.
This subject is annually fruitful topic FOR news
paper discussion. The season for canvsssins i,
again, as the session OF the Legislature draws near
Is already arrived. Accordingly, we find the va.
rous presses putting forth sage views upon it, Il
avery favorIe theme with the Loco Foeo scribblers
as is with the orators o. the same political COM
p.eIon, upon the stump. They are all OF one mind
respecting it-and DANGEROUSLY demand an instant
and universal resumption. They DO not admit that
any considerations affecting the welfare OF the peo-
/ pie, will excuse longer suspension. They take Il
Tor granted, that every man is prepared to pay the
/ Banks what lie owes Ihem-and whether this be the
case or not 1t is the duty Of those institutions forth
with 20 comply with their obligations. The pa per
which has been most conspicuous IN the ouicry
agans. the Banks, is the Richmond Enquirer, the
Osgar of the suspended Bank of Virginia Nothing
will SATISFY the scTupuouS and conscienIIous EdIlor
OF tina: PRINT, but immediate resumption. His NICE
sense OF honor is shocked at residing IN commu-
nifty where any man or set OF men do not pay every
cent they owe-and he is so prompt aud exact IN
dlseharsng all the obligations against hlmself-thaI
he has no sympathy for those who are SO un(ortu-
nate as 10 oe behind the stump. Plank down the
cash, kiss the ealf.skn, so jail, are the only
alternatives which this merciiess Draco would ex-
tend 10 the debtor class. Probably, if he owed the
Banks 20 or $4,000, which he would not or could
not pay, he might entertain very different sent.
menis- lie could not be SO unjust then, as to
DO that which he himself refuses TO do. There
would be manifest indecency and " rons in making
/ the requirement. No man has a right TO demand
equity, until he has been first just to Others II all the
debtors OF the Banks would pay up, we doubt not
that the Bsnks-even the Virginia Bank inclusive
would follow the example, and resume and main
tam specie payments. Blu, no one who owes these
institutions has any right to complain OF their omis-
sion to perform their duties, whilst he is himself
delinquent, and withhoIds from them the means of
doing so.
! As TO the general question, we feel personal
! indifference. II our Loco Foco friends insist upon
resumption, they are welcome 10 it-ior aught we
wall 90 to the eonIrary-we have only to say, that
we deem coercIve resumption by the Virginia
Banks, impoliiic so ohg the Banks of the .igb-
OourIng States are in suspended condition. A
writer IN the Baltimore Patriot considers the idea of
resumption at an early day by the Virginia, Mary
land and Pennsylyan Banks, as absurd and pre-
posterous The latter, he says, are privileged by
| law TO remain suspended for FIVE years-and all
the signs warrant the belief, that they will avail
themselves Of the privilege. The New York Banks
The adds) will suspend IN six months, inevitably
unless high Tariff TO arrest the importation of
foreign goods and the expectation of Specie be
adopted. Under these circumstances, the only ef
feet OF resumption IN Vrgna-except III a modi
fed frrm-w be increased pressure for a time 10
be followed by suspension OF indefinite duration.
Ii has occurred us that the virginia sgi,l,,u,s
might secure all the blessings of a good currency.
within our own limits, by hrIhg some future day for
resumpIion-say the LIST of August next-and at
the same time authorizing the Banks to put all its
Circulation IN sml notes Of the denomination Of
81 ard 81, for limited period Of . or years.
The efficacy OF small notes IN aiding and maintain
ing spece payments has been s'rikingly demonstra.
ted IN England. There suspension continued for 20
years, and might have endured to the present time
but for resort 90 them. They will not be attended
with less beneficial results here.
But we repeat, we leave the settlement Of the
matter to others. II the Locos come to Richmond.
/ animated bYa fc'lOus spirit, and less intent on
promoting the true interest and honor Uf the cd
Commonwealth, than suJserying party ends, they
are welcome TO do what they please with the Banks.
They are institutions which belong properly to
them-they have made them what they are, and i,
is their duty and privilege to dispose OF them as
they may deem IT, They may wind them up to-
morrow-,he wings can stand the screws as we'll as
the Locos. But we must insist on one thing that
no suspended Bank shall complain Of any other sus-
pended BanK-anj no man who owes a Bank and
refuses 10 pay, shall demand resumption, while he
himself is in a state Of suspension.