Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-02-19
DOMESTIC.


Observation-Disclosures BANKS
Iaterropatories propounded by the Committee on 6ans,
to The Presidents and Cashiers Of the ssrsrat 6an6S
of this Commonwealth. a..
ist. What is the amount OF circulation OF the VIZ,
o;n, Banks supposed to be in each of the cities OF
Baltimore, Philadelphia, and New York, respectively
and collectively ,,y
ood What amount of circulation would have 10 be
withdrawn to prevent serious run on 'ne '"s"''
Banks from those cities! ,,.
Ord. What additional demand, (beyond present iab-
ity of the Virginia Banks at the North arising from
any cause, would likely be made upon the BANKS OF
Virginia from the Northern cities, IN case oil fesump
ton A.:
fine funon a fair setlenent) from Virginia TO the
Northern cities ;,,,
tb II ha. been stated that the balance Of trade with
The Northern cities is and has been, against Virginia.
and Richmond particularly 10 tins your op'h''h' why
do YOU think so? and TO what extent - II true:
9Th What would be the earliest day ut which the
Virginia Banks Gun and maintain specie pay
ments ,cih the cooperation OF the Northern nahAs'
and when, ,cithout their cooperation:
7th Would or would it not be indispensable IN eiier
casey 10 curta the business of the banks extensively
and If 30. to what amount upon what description Of
debts can il best be made and at what intervals OF
time? 49,.
9Th. Would it in your opinion be better, that the
RANKING Institutions in our State should be required to
redeem their circulation, at the great commercial points
10 the State or cere issued at present? and you
think this would be improvement on The
tenn will YOU give your reasons for that opinion;
9Th In addition the answers to SPECIFIC interroga'
tories the officers are liberty to express their gene
raj views upon the subject of resumption
additional Inttrrogatoriss.
What we're the dates Of the late suspensions and re-
sumptions of the Banks respectively, commencing IN
1897?
what was the amount of specie and notes 10 circu-
iation in each bank, including the branches at the Sc
yeral periods of suspension and resumption aforesaid
as nearly as practicable!
y8aspcrs to the FOREGOING Interrogatories.
BANK OF VIRGINIA, I'd Feb. le42.
Answers to the several nterrogatorles proponnoed
by the Committee of the House OF Delegates on Tue
18th January.
Answer to the first Question.
have no data on which can form even oierable
estimate of the circulation OF the Banks o. Virginia III
the several cities mentioned Letters nave pcell
ed 10 each of those places and such information as may
he obtained will be submitted TO the committee FROM
the great scarcity OF money, both in town and country
in Virginia it is probable that large proportion OF Inc
and wherever be present. II will rapidly ma It's way
home, through the channel OF the Northern cities, while
Virginia is indebted them, as soon as the resumption
of specie payments shall take place
Answer 10 the second Question.
If all the circulation requisite for the business oil
every kind in the State could be kept full OF the paper
Of the Banks of Virginia. it would mol be necessary 70
withdraw so large amount of their circulation az u
occur but as the Virginia notes are Withdrawn, inc
space they now occupy will be Immediately filled with
the paper of the neighboring States, as ia exemPhed
in the State of Maryland with Virginia notes in conse.
uenoe of the withdrawal of the notes OF the banks oil
Baltimore Much, therefore, depends on The con,em-
poraneous acts Of the banks IN adjacent STATES !,
they call in due proportion of their paper, 1t VIII
leave more in Virginia for the circulation OF our
paper.
Answer to the third Question.
Whatever amount Of the paper oil the Banks OF VIZ
o;nia NAV be in circulation in the Southern and West
rn States will in case Of resumption, be transmitted to
the Northern cities as Of the most eligible modes Of
remittance that be made from those States and that
paper together with such claims on Virginia as may be
held by them will reach the Banks here through The
Northern cities.
Answer TO the fourth Question
I have no means of answering this question at al
satisfactory TO myself.
Answer to the fifth Question.
Tbere can be no surer barometer of the course OF
,,sde different places than the regular rates OF
exchange II is true, however, that the regularity o.
exchanges 10 occasionally disturbed by pan.cs exced
nv obbers for their benefit but they are ou
raosi,orv in their effect With Baltimore The raie al
Richmond is about2 p per cent against h'cnmohc
and with Philadelphia about per cent, and ne''her o,
,ho,e cities paw spece-of course Virginia must sena
issa 10 value 10 those places than she receives WIN
New York and Boston the rate OF exchange sun hgn
or. owing TO the same cnuse in higher degree
Ansye. TO the sixth Question.
This il puzsling question, which approach VITA
a,e,t didence but will briefly state my difficulties on
the subiect A paper currency, not conser'p'e 'h.o
coin n the will Of the holder, is great grievance 70
INV country chiefly from its tendency to depreciation
and auctuation which deranges the value oil properly
G a,most eyery kind: bur are laborng unoef 'na'
condition and the great question 20 oe soiVea ~