The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-05-27
From, the Mac Orleans .1drertiser
RESUMPTION TRIUMPHANT.

Az opposition knoched dorm !--Resignation
OF President Larergne !-Public opinion
stamps ,rM appreciation The seren resam-
ing Baahst
Yesterday, the glory of the day before was con-
summated. The city saw the sun of specie payments
shed its benefcent light over her vast extent and
fdence sprang up, like new grown plant, in every
mans bosom
The seven Banks did not lose over twenty thousand
dollars. In the aggregate, they received over sixty
thousand. Many of the unwary who had drawn coin
the day previous deposited their precious treasure in
the vaults whence they had taken it in alarm and hun
dreds of new accounts opened by men, who fol
months past looked very properly with suspicion OF
all Banks which did not pay their debts.
So completely has allopposition to resumption beer
knocked down, that they who presumed TO offer any
on Monday, were among the ahscntees from theil
usual haunts. When they seen, here and there
fitting to and fro, the shout Of laughter at their folly
was sent after them by the rejoicing people
President Layergne of the Consolidated Bank see
ing that public opinion riumphantly sustained him
or he went for resumption) and the resuming Banks
and rejecting that he occupied false POSITION sem
in his resignation to the Directors, yesterday They
refused, we learn, to accept it. He told them thai
he would not take it back unless they agreed to re.
sumo at once, 1t was sine qua non with him What
the Board decided IN the matter We do not know, but
this we know Mr.. l.. acted in most praiSeworhy
manner.
II IL rumore1 that the State and Consolidated ia
tend To pay coin to-day We do not see how they can
do therwise. II they do not they will be guilty a
treachery to the State and the stockholders and will
infct injury upon the note holders that ought to
he punished with the utmost severity of law, and met
far and near with the most decided Reproduction.
As to the Citizens Bank, a variety Of reports are
float abou, her. One is that she has $500 600 in her
vaults If she has she ought be punished for not
opening them ard making her paper equal to coin
Another is that the - h section OF the Bank Law is
be put in force against her for violating it, by paying
out municipal shin-pasers. There is great curiosity
to know how she came by that trash
The general impression seems TO be that the State
and Consudaled-w be forced into resumption, and
that the Citizens will persevere in her laundering
course until premature death overtakes her. Con
fdencc in her ultimate ability To pay, s. beginning to
be disturbed and all too Ivy her own foolish policy
She WILL hope take the alarm before it is too late
and return to the path of honesty.
Taken all in all we have cause TO rejoice, There
is now no United States Bank to terrify State Banks
and drive them from their propriey, 'better cur
rency to buy for circulation, Nicholas Bddlc &c
look up TO as a Ncckar, but our leading men have be-
come convinced Ivy the discussion Of the subject
that suspension dire evil is worse than hundred
wars that Bank has any right to refuse pay its
debts that nothing is money but specie and that pa
per is only useful when convertible at all times into
coin, and hence the prompt return to cash payments
sought eagerly by men of all pursuits as the only
means of escaping from utter rum better state
of feeling exists now than has existed III tins city for
ten years past Suspension can ncrd fdht place dgta
The people viii never permit the Bank that shall dare
il to stand hut ii viii be consigned over TO the tender
mercies OF the laws