Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-25

IuallarS. winch, compared 10 popuutloH
s so much greater than ouIs that 1t would require ours
70 he four hundred and twenty five millions TO be equal
10 il, This what the Senator from Mississippi tells
us that he has and would 10 God that we had all
seem IT, Would TO God that the whole American Con-
gress had seen it, Deyouy do wish that it was the
custom now in ancient tunes, for Legislators 10 exa-
mine the institutions of older countries before they al
tered those of their country The Solons and Ly
cnrruses OF antiquity would visit Egypt, and Crete,
and other renowned places in the East before they
would touch the laws OF Sparta nr Athens in like
manner should rejoice 10 Legislators visit the
hard money countres-liolland, France, Cubabeiore
they went further with paper money schemes in our
own country. The Cabinet, think, should be actu.
ally nut upon such voyage. After what they have
done, think they should be shipped on a visit to the
lands of hard money. And although it might seem
strange under our form Of Government thus TO travel
our President and Cabinet, yet must be permitted 10
say that can find constitutional authority for doing so
lust us soon as they find constitutional authority
Tor sending such scheme Of finance and currency
they have spread before
Holland and Cuba have the best currences in the
world il is gold and the commercial bill ofexchange,
with small silver for change. and not particle of bank
paper France has the next best Ii is gold, with The
commercial bill Of exchange, much silver, and no, a
bank note below 800 francs, (say Sl00) And here
lie, me do Justice the wisdom and rmness Of pre-
sent King Of the French. The Bank ofFrance lately
resolved 20 reduce the minimum size OF lis notes 10 200
1 francs, (say 500 The king gave them notice that
if they did it, the Government would consider it
injury the currency, and would take steps TO
rect the movement. The bank rescinded its resolu-
ton; and Louis Philippe, in that single act ITO say
nothing ofothers,) showed himself TO be patriot King,
worthy of every good praise, and ofevery egs-
laior imitation. The L. S. have the basest currency
n the world II is paper, down 10 cents; and that pa
per supplied by irresponsible corporations, which ex.
the privilege Of paying or not Jnst as II suits
cy upon the face Of the earth but will remain so
Reform IS at hand. probably from The mild operation of
law; il not, certainly from the strong ofruin. God
has prescribed morality, las, order Government, for
the conduct Of human affairs and ne viii not permit
these 10 be too long outraged and trampled under foot
The day of indicating the outraged law and order Of
our country, is at hand and lis dawn is visible
The If bank cnofmty will itself under The
DEGREES of Providence; and the will be more com.
plec and perfect, than any that could from the
| hands of man.
1t may seem paradoxca but it is true that there is
10 abundant currency, low interest, and facility Of
loans except in hard money countries: paper makes
scarcity, high interest usury, extoron and difficulty of
borrowing. Ignorance suppisrs that 10 make none
plenty you must have paper: this is pure nonsense
Paper drives away all specie, and then dies itself for
want of specie; and leaves tie country pennies until
| II can recruit.
This, Sir, is my answer 10 The demand FOR a national
currency, meaning currency Of paper money issued
under the authority OF law enacted, Of charter
granted By Congress. | am against such currency,
but ready TO recommence all the hard money mea
for the restoration OF the currency of the Cons
luton ana 70 stop 'ne curse OF atpfeea'ea notes ana
ing bankrupt law 10 bankrupt banks, and placing
tax upon every bank note, which the small and weak
wa. no, DC aoie 10 carry nus Is wnat an renuy 70
40 i'' the currency anu as 'of 'ne EAIhhNuh0, as
.hty are caieu' 'ipy VIII i'eht themselves wneh tue
BANKS are subjected 10 law ahu government Exchange
will regulate itself and reduce sef to the lowest point
the instant The banks are made 10 pay, or 10 wind up
ana o'S i'e'oh ne suoJecl 10" lot '"e Pufnose OF
sNns ioolat'on rom sthtema" whose a"'n1,''y
WIZ ~ unIuts''one". speak " ir' APp'e'on, OF Dos
'1 o' i'e M 81 - ' - Di"H - ~ :
i ai'I WI W. - c CIV "
'e' 49, " 'i ' ~ 800 80 " ~"
man 'ha' wh,ch IS necessary i"r mere l'en'!ca'ion
ne s'ys ~ MS pap"'e' a'ey Pu's"eu vi 'ne stale
VI ',ie ."t'e"o, an" '''e eAe,ia"S
, M '''i.' ~ n =, !, =, =. ~. W
much IN his There /, no difficulty wi,h ic exchange. where
baul pay specie. There lies III Whole difficulty. L.,
be Icinnrd ana h-r m hr no d'i.Iy on lhti cot Ihe
@ ~ ! ,'' i nn, ~ nv, ;,d sn,s i w,
WIN many branches, cnn manage tin exchanges v, 5rr prof
b perhaps, than lie local hlnks do The Tinted state
rtnn .,n ,"e - m n, =" ..''i- m'an
wears t!ir ,hau.c New ~, kept
hish TIA! oonisIa shipments q ,Perie Sef. md from
T." az" XIV w -, ~ 49,, ,, ,; ~ .',' y ~ ~,
n.r ;a. r..c, in t.r.ne he raes Il .,.bar. whenever
The hat> rcsnie tier prr functions Ihr effect = already
Ss ae' vi ' ~, nn'sen Boston anu 49, S a.t'
The exchange ca rise 10 ggcri,r Of enc prr amt which i cn,e
qreni!y the Wher The lnnk- rail silver
transportation would hardy be attempted WI" al exchange he
low ar = ii, ,bc ;sdo of tho sub;oc, ,oioc,od into
few l;uos with ins tribute brsides 10 Tho merits
Of the gold bin in reducing exchanges That bill has
reduced the exchange from one per cent 10 quarter
of one pc- cent between Boston and New York: and
will donblless reduce il in the snme nropornn nj OVER
the Union when The suhecton of the banks 10 law
and Government shall permit the restoration ola gold
circulation From one half 10 one per centnm will
~ ha ,la -, ,;,,,,n Lo,u,oa, ,L. or.,on ut, ~
IN, Union.
Th;s ,be u;sIo,, re Tho s,biocitbe I,,, md ,bs
nronhe,s ri ,ho case. and NOW wretcbcd mr. Cobnet
piap # reyulo,nr EXCHANGES NV Their miserable con.
,;,,nces anna, cornarei II no tru,h and mnc;tv
Of wha, Is here said,
Tho Roman b;s,ori,ns Mr. pres;den, ;,f,ro, no of
,r,,oe sooc;es NJ madness which ,fl,c,d be so,d;e,s
r Mort Ap,ony m thor rctrea, f,on ,ba plb;an yor
p.aa.ad H. RE ,hon ITO ~ ,rLno,n ,aa,a and
harh. Wish hay nnnd alone the base r. ,ba Armenian
,onn,n;ns md among The res, of one yIch had ,be