Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-09-24

and made 10 fee! lis power: bu! the mode OF lis
operation on The Government Is worthy Of obser-
yation. The Government yGu rememtcr depo-
sites millions annually with The Bank. and the
Bank trades ~ On these derosi.cs. So Ion, G. the
Specie OF The coliniry i not in demand, and the
notes OF the Eank and specie arc At par. 50 long
there is 10 difficulty; bit tie moper; that specie
arp,ecla,.s, the Bank notes Gepgeca,e. Wei!
he Gcycrrmcnt 10 carry ON lis operations, is
compelled; 10 make immense contracts, ard. as we
have shown teforc. during tie Use III TIE great
bubble, contracts Tor eXtyava@ant and iil-tianed
Improvements Il he's borrowe, 10 Gerry On these
woiis, ard for lis own existence, millions upon
millions from other cCtir,iics: 10 meet the inter
csi upon these ioans, specie is required by the
Government, because lis creditors will not
ccivc The deprecated notes CT the Bank and &C.
mand specie IN payment. This, oi course, only
aggravaies the malady under which The Bark X
laboriEe; then, all sof,s oil expcter;s are rcsorcd
to, 10 avoid paying specie 10 tie Govcmmcnt-
Then, the Directors on the part OF the Go-er;l-
men. in The Bank, inioim the Government tina;
Such and such things are done in secret, which
they lear will leopard The public interests. The
Governments either fears, or PROCESSES 10 fear, that
the public Gcrosics ere not safe in The Eank, ana
threatens 4 removal O. he dCpoS's. Now i!
becomes important TO the Bank. that a President
favorable to the Institution should he {, the head
OF the Government. i nov election is al hand.
Thousands ere to ~ sguandcrcd To carry the elec
tiers \ new element o! G!scord is thrown into
society. \ lew source Of yiliGiny is opened
Men OF talents and influence are 10 he bought
over by GUucegrs ami fees. ana men who are o2-
posed 10 the E:Hn 10 b, seaccd ~ threats Of tie
screws. I'hc elections are IL he carried 4; every
hazard That fountain, which OF all others in !?
free Government should be kept pure, is corrupt
ell al is source TIE President COMMENCES lis
operations 10 coGu,e!.ct tire workings ci the
Bank end war Of determination conmCnceS.--
l. IS needless 10 enquire which Is ri"!!t or which
is wrong. The result that is necessarily pro-
duccG, is all thai is important in tie view w are
nowlaking. The dcposes are removed. Thus,
another iiDmcnsc amcrgt upon which lie Bank
has been trading i removed in IN instant. The
notes al ;hc Bank are :lo:c and more deprecated.
The Government, besides its debts, has NAVY 10
MAINTAIN in every pat o.. The worli; il has Mi
ni>cIs 10 pay al every foreign Court. Ii cannot
pay It's sailors in Russia or China III shinplaecrs
1t nIGsi have specie. II is 4 hard alternative.
II is hard upon Tie people 10 require them 10 pay
taxes in specie, VIXEN they are required To take
sl!nrasic:s or deprecated notes in their ordinary
transactions. But the faith Of the nation Is nj
stake, and i must b. maintained 81 every hazard.
Then, comes the specie c:rcular-ard then comes
an outcry lou" and loud. not against the Bank.
the cause OF al tits III: tut against the Govern
:acE, !oI vindica,irg the honor Of the nation and
pre-eryin% lis national faith.
Now. the Bank begins 10 pursue vacillating
coursc-;o-dav expanding its circulation With
show Of strength and energy, ard running up the
price Of every article in NEUTRALITY-SUSPICIOUS.
again cutiai!;nc At rt;nons rate and depressing
every thing with equal lapidi,y.
In The mean tine. al this ia-do. all this dis
tresS. has begun To produce some Stir i'll other
countries. Bill after bin drawn uron this corn
Try has been returned upon the drawers; capital
ISIS have become alarmed and agilatec; United
States Bank Stock, which was largely above par,
has commenced lis fall; state Stocks heSE TO de-
sceu5; Stocks Of Joint stock companies tumble
down, as il their c.> we've knocked from unGer
them he thermometer IS ch;llcd-at every aTri-
val ddwa j, goes lower ard lower; The agents Of
Tie States seeking new loans 20 GETTY on Their M
-Iuyehchls alc la:chc -: every WOk stops; tiit'l-
SANS arc ins'aaianeou>iy thrown CIT al emriIE-
'Gcn-acggaTcd; The States are required 10 pay
the interest on their loans in specie; no adequate
provision HIS leen made Ia meet This contingency;
taxes must lie par; in specie the people We 81 sub
nit 10 il; instead OF that, they ale voc!icTcuS Tor
stay laws no man is sustained who votes Tor IN
position of taxes; OF course, the interest is net
paid: and not OILS i!Gt hu; they begin 10 inresti-
ere. ted; they take advantage oi every little flaw
in the contract every departure oi al agent rom
literal E.lruciions The del itself is lcruG'aicd;
Si;ta credit is Blasted; STATE stocks tall 10 nothing:
The E&nk owns immense amounts o. these SOCKS,
obtained; ly loans to tic States il calculated
upon the sale ui these stoc:S 10 meet il enc gc-
menS; The loss is tremendous Now, properly oi
every Kind is thrown into market a::dcr the deed,
Of trust 70 body is able 10 buy; those who yc>icr-
day wee rich to-day are teesas; the fcoplc are
ruinct: Tie Banks of course. are ruined; Bank
alter Bank is smashed TO atoms.
The grca, Regulator hce:ns ID Re alarmed for
lis ie: it tc@inS 20 speculate in cotton and ether
Articles 20 bolster up lis waning fortunes. 10
proven. the great depreciation oi STATE stocks, ii
hccolne>a purchaser Of thee stocks in foreign
markets.. 4 MONOPOLY III cotton IS 10 he created;
immense amounts ere purchased ~ is aserS-
Irall;. j; is compelled To force his cote, into
market at an immense sacrifice Millions
arc sunk as cl'cctually, a il in the deep
bosom of the ocean buried" Officers now
sec pretty plainly how the land lies-thcy begin
10 peculaic, immense amounts are los, in this
way, and The Regulator finally eyrlotc>, scatter
inc Gesoation and havoc into every circle 81 So
ccly, amid the cuises and imprcca;ors Of lis
dclGtied debtors. And al it, death there is weep
ing and wailing, and gnasling OF iccth-Noi
the weeping and the wai!ing al the mcurncrs
who lament over The vir;uots and the good: bu,
The teallul eye f the widow and the orphan left
pcnnylcss ami de>olate, lhc siuprcca,ions OF the
strong ana The powerful shon OF their locks, the
curses OF Il: friend Of man wai!.ng orer Tie
stigma inflicted upon na,iona! hcnor. aad cnlea
voring with his tears 10 wipe cut the Disgrace cast
upon the fame Of tic only lend that Liberty had
chosen IS her honorcd home.
and lhosc who have seen ,heSc ;hirgs wish them
revived 1t is the tcrveni PRAYER Of every De
nccrat, that Heaven may never cursc this na-
ton again with suc!, IN Institution.
HISTORY