Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1842-12-09

II the memory Of the people OF Virginia, runs back f
the events Of last year, Mr.. Randophs aaipnment of
Banks for curaing their old accommodation debt M
sound strangely in their That they Ind been
y rcmss in their duties in permitting debt to
and in taking steps TO diminish the promne
topic OF invcctvc with all the orators who have
the pubic upon the denominations OF the Banks Whr view a
cocce icn to curtoil these very debts session after
son. committees were appointed specially charged To III
qro into the state OF every mans and expos
to the public gazc-that the world might see nv the
tent OF the slow, accommodation paper the gross folly AM
iayourtism of the Banks and as the effect thereof
unworthincss of the public confidence While this inn
mensc accommodation paper existed, which the Bank
coud NOT eonuoi-'' was impossible $50 it acgcdt
for the Banks To resume and maintain specie payments
This clamorous continued until last winter
when the Legislature closed it, by passing act RECURRING
the Banks 70 specie payments by the LIST Of No
vembcr The few of MS, who considered this then unde
existing circumstances mpoc and unwise urged that the
Banks would, To comply with the acquisitions of the Lee
gsature, be compelled draw in their issues to con,ruc
the line of their discounts, and produce the very
now complained Of We advised that instca of reouir
INC specie payments and consequent contraction of Ind
currency, the Legislature, looking the welfare of the
people had better forbid resumption under heavy penalties
But this was hooted at by the Soomons of the Locofoco.
party In their blind rage against the Banks they could.
not rec that in forcing the Banks collect their debts
they were doing those institutions essential benefit and
costl
what might and the exngishmen, OF the old accommo
daton debts was object and dear their hearts
The Locofoso policy prevailed The Banks were
coerced into resumption and required call their debts
And now they subjected anmavcrsions and thren,
ened with punishment for doing the thing required of them
and that too by the very men, who issued the order
This is than Turkish Justice.
And how stands the case with the gentleman who pre
iers this complaint against the Banks curtaing their
debt' Is he disnterested partyi Are his whers un
ung by the action OF the Banksl Arc his accommodations
niringed upon, and is it his suferin which cause
hrs patriotic oucryi Even admitting it, is there any Jus
tce or in his GLAMOUR Has he had his fill Of the
Banksl Has he not had an accommodation OF Bank Of
from 80 10 6OOOO during the last yoars and is he not
now in possession of ~ $4,000 accommodation
not this, in all reason, enough for man Is his so
mach "a capacious and Unsuitable the great deep Does
he want all and TO keep alwayl l. this Democracy Is
there any equality or justice in t7
But the Banks have curtaed his long standing debtand
substituted for has invaluable we-sccured paper the ephe
neral oO days, vaueess paper Of citizens of Richmond
This Is heinous offence, doubtless and we have not
word 10 say in mitigation of its enormyf be true
The sheer, however, implied in the accusation upon the
citizens oi Richmond, emnnating from high moral
soirce-irom whose own ruin and whose rcproach
damnaton, on whomsoever il falls be CALLING ex.
ecedngy To the iysrcken people OF this CITY, II
true, that the great majority of them not blessed with
not overburdened with wealth. and have splendid landed
pnncpaties; hut in cXtenuaon of their crime of poverty
itmay he alleged that they had the good luck To adm
mister broken estates reap the proceeds of pa,o
tic subscriptions.
The pr1essed object of Mr.. Hopkins resolution asex
pounded by Mr. Randolph, make the Banks partisan ma
chimes, and Ia introduce Directory which will extend the
limo of accommodation discounts. With Mr. Edmunds we
entirely concur that these Institutions ought shape
form to be connected with party that they ought to
be confined strictly TO business operations Ii their de-
pariure from this rule, when tempted by Gen. Jackson with
the public deposos, which overthrow their credit and pro-
duced much public mischief That extensive accommo
dation paper with the st principles of legitimate
banking-and that if INDUCED lead suspension is
too manifest for argument Mr. Richie has aready an
nounced that the Banks will him any longer; Mr.
Randolph, in substance makes the complaint from
which it be inferred that both he and the Junto are had
rum and TO relieve their necessities the Interests other PEG
pie, and the interests OF the Commonwealth all be
ciced and Directory to be put into the Banks, who will
give them as much money they They entitled
credit for the irnnknes with which they avow their de-
signs and freely awardt But if they succeed in their
object, nd Directory be installed, pledged loan out
the capital of the Banks political fnvoes and for indie
finite porods-the stock of those institutions must of
course speedily and greatly decline in value In twelve
months they will be like the Georgia Pcwiih not enough
specie 10 buy iced lemonade.