Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-05-31
RICHMOND, Va, TUESDAY. MAY 81. 1872

The peace of New Orleans was disturbed on the
2lst May by popular commotion, and the Bull
ietln says II 'threatened at time serious conse-
quences In fact il had not altogether abated al the
last accounts "he origin of the mob the sudden
and unexpected depreciation of Municipality notes
ing from The resumption of specie payments. For some
time past this species Of paper had been regarded
the Safest that was in circulation and was taken in pre-
terence TO bank bills great dea of had been hoard
ed rs secure deposit by small dealers and persons OF
limited means Hence, when the shlnpasters fell IN va
lue the depreciation felt by every nhabant of the
city more or less and heavy losses fell upon the poorer
classes Majority of the latter had no other kind Of
money, and when the Municipality bills refused
in the market they were stripped of the means OF buy
ing their Bread and the necessnres of life From such
state OF things very strong excitement very natu
rally arose. The popular discomfort was first mani.
Tested yesterday morning at about 10 o'clock by the
assembage of crowd at the Mayors office, to demand
the redemption of the Municipality notes. His Honor
made speech the multitude explanatory and conci-
liatoy well calculated to allay the prevailing excite
ment But neither the promises nor threats OF that
functionarv were needed.
The mob consisting of 5000 men, then commenced
an assault on the brokers' Offices on Canal and Com
merce sreet--and robbed them of from 10 10 20 600
dollars The police then ntertered, and arrested about
dozen of The depredators, which for time ntmdated
and dispersed the rest
The Second Municipality Council Immediately as
sembled and its Committee reported that the amount
Of small notes in circulation is S3I5 000-the amount
of outstanding debts due to the Treasury S27oUO0
They passed Ordinance, autliCrising an issue OF
Treasury Certificates, bearing y per cent. interest,
remburseable in years, and receivable by the Trea
surer in payment of city taxes, &c.-The Council Of
the First Municipality authorised the Mayor TO borrow
from the Banks 5000, 000 10 be exclusively employed
in redeeming the Municipality notes.
The Loan Of Sa5O,O which was authorized TO be
made by law of the last session of the Virginia Lee
gsln,ure, is not yet taken. The Board Of Public
Works have limited the price TO 95-and no offers
which have been made TO the Bank of Virginia, Qhe
constituted Agent Of the Loan have yet reached tina,
uma,um In case the negoclution be not completed,
the 5000 900 worth of State Stock now pledged 10 the
Morrlsons will not he redeemed the interest due on
the lst July will not be paid the credit of the
State must suffer. We understand that The Board oil
the James River and kanamha Company will meet to-
morrow-and cannot permit ourselves 10 doubt, tat
some arrangement will be made for redeeming the ere
dit OF the State, and for extnguishng the floating scrip
and other debts Of the Company.
We are happy TO hear, that the Company have put
the completion Of The Dock under contract, and that
resources, sufficient for this purpose, will he raised
from the arrears that due the unpaid stock OF
private subscribers Some OF these stocks have be- n
thrown nto make, and publicly sold Some funds have
have also agreed 10 take Of TIE due, in
payment of their contracts. 1t is expected that the
Dock will be completed in July or August and that
i, Will Immediately produce an annual profit of from
IL to 10 COO dollars When its connection with the
canal is completed, the receipts will, of course be
augmented but will from TO 500 600 dollars
and the Company have resources At present for nc
compshng that enterprise. They must wait for more
aus pcious seasons, and bide their time.