Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-11-08
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The National ln,elhcencpr Is out this morning with
the grand scheme Of Observation-Disclosures To turn
the Government topsytnryy, and pour out all s stable
means at To political spectators md gamblers in
ihe State stocks, and give impulse TO The infa-
nous credit system winch he's already visited on the
country every species of calaty, is the cue now g.
ven GU, 10 Tie partIsans OF Wh,gery. we have not
had enough Of DEBT AND GsSKKrrTcY-SATIoSAL,
STATE, A.p iNpirInrAi;-- oi CORRUPTION IN Flee
HONS ENTRAyAGANCE, and GENERAL pEMoRALiZA-
roS IN pablo private liie-of broken banks, with
their Of suspensions frauds, robberIes, and the
coase quert sutfenss inflicted by them throughout all
classes Of the community All that We have seen oil
wild sp cuntion in business-all that we have seen nl
riot, phrruzy, and rIiainy in pocs-drectly trace
able 10 the current of mercenary passions winch
flowed from the millions of imaginary wealth winch
the credit pnt alloai, from the issues 1t opened
through the banking internal improvement, ard State
funding operations-is 10 be broached anew.
The credit sysiem, under The effects OF which the
nann IS re>,ing-which had its origin in the pa
per expansions bceo:,en by the Bank of the U. Sis
but drop the ocean, compared with the flood
of stimulus which alr. William Cost Johnson Uhe
physician called N BY Whis9ery to save the nation
eating credit SYSTEM would pour down tic throat
Of Tue patient Here is Mr.. Johnsnns prescription
sci forth, with full directions, in tins morning Ma
,ional lnell'gcrcer. We copy from tie preamble OF
the bill, which contains provisions 10 give i: efficacy:
"Jo dea.t ne States, and increase NE raPaai IF hc
~
issue, rgoa he faM ofihe Government, ro hundred
muiens If Gorernmtnt stock, cf denominations Of not
less dian h"ndred, erecting one thousand dol
tars 10 be dtetded among Tie Suites, The Territories and
The District ct Coiam6ia, upon he basis " Federal re-
presentation IN Congress-.
Two HUNDRED MILLIONS OF PAPER MONEY 10 be is
saea q, y The National Government, (Which can
borrow dollar its authorized loan) and
distributed o benefit the States and increase the ca
?'ta fthe nation and this vast pile Of 'e taiM u
~ n.
.f net less tam oHe hundrfd eIreedtng one Mou
sand 6oifarS rests upon The foundation Of tie con-
c!ndns direction o! the bil'to suspend tie operation
Of the distribution of the proceeds of the Public Lands
until the redemption OF the stock Of the Govern
menii,
(amed for IFS wide spread ruin in EnglaEt) and john
Law 5 Mississippi scheme equally celebrated for lis
destructive sweep in Fancc) quite into ins:gniicanoe,
i!.e NAiianai lnitpencer seems 10 welcome Nth the
greatest pleasure 1t Gays: "7hc proposition f
raS maoaitndc and aa importance greater daa is
nasni,udc" After tins explicit and high communication
by way fsalvo for Iisein the public should not
adoni il as CT "an importance greater even than lis
mapni,ude"-it adds Vie do not pretend to adopt
Mr. JoAMsons ritrs Of the sutherland yet il goes
on TO do great deal mere in their behalf than pretend.
ins TO adopt them Instead Of pretending anything in
regard 10 the prrposi,ion the Editors go in
to urge it on Tie country in The following emphatic
paragraph 1--WE do hot pretend 10 adopt MIR. john
sons views says the n;eliigencer, and adds
"But we consider his proposition 10 be Of an en-
larced, national, and patriotic character such as does
credit 10 his Jodness as statesman and to his courage
as representative of the people. No, that we believe
the popularity of his scheme TO be limited the lean
proportion fvotes by which il was coun.enanced at
The las, session Of Congress when proposed by hm
tho House ofltcpresen:atves. II then new and
therefore startling; and ciashcd tesites with other
f,yorite objects We do mol know that il will ever
sacccsG; but Sc quite clear n Tie opinion that ii