Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-04-21
PANlES.

We hear much talk, recently, OF falling Of
Socks, apprehended suspension # Banks, &c,
from the passage OF the Snb-TreasuFv, and
War with England and Mexico. We have seen
50 many OF these false alarms gotten up for per-
sonal or political objects thai We have but lille
faith in their reality. A certain class wishes 10
keep up the high profits of the manufactures, AMI
CIV out "ruin," if the Tariff be reduced. And SC
on with every other interest that IS IN danger ol
being in HE least affected by tie action OF Co.
vernment.
We have been always opposed 10 any sudden,
radical change in national OF Stale policy. If an
important reform is 10 be Introduced, we would
DC in favor Of making il gradual, 50 asto prepare
all classes for is natural effects. The Constilu-
iona Treasury is, 10 our view, The on: simple
and proper plan OF taking care Of the public mo-
ney; and, II j, be connected with revenue Ia
riff and a liberal warehousins system, It's ger
name attendants, and il line enough re ai'owcd
10 bring these Important measures mo ha''hohi-
Gus and ctficien, action, VIC see no real cause Tor
alarm. even among The most Iimid business men
Pm; we designed merely 10 refer TO the follow
ing anli-panic article from The Journal OF Com
merce. That paper IS The organ Of The mefcah.
lille class. As will appear on The lace OF us
article, il is utterly opposed TO ne SUB ressu-
re- and has raised its voice most loudly against
ev,rv s,,n which had the most distant approach
10 an interruption Of our amIea'ie relations WIN
foreign powers. With all the facts before i, II r.
diculss The imaginary panics which are bow CIR
culaling through The land, startling Inc timia
men ot business. If Inc Journal OF Commerce
treats The subject thus lightly, We may be vel
assured that the alarm is imaginary. we none
thai il, confident tone will remove the tears OF
those who really lcok upon the dark side Of things.
So,hine can change lie course of those who cry
"ruin. from personal or political purposes;
F.om the Now York Journal Of Commerce.
pANIC.-There is reason ID all 'h9s'i o., al
least there ought 10 be. 6ut me course Oh oui
Banks and Of many people N wan sHec.,
seems to us 10 have little reason 10 u as Possi
,is IF we understand The case. our Banks are
reeusiny Ia discount commercial paper almost al
,ree;heT. ard thereby checking suddenly The laci-
LIS nnon which The merchants haze right 10
ra,. nnl,.s there Is some real and substantial rea-
son for did.ren, course. The Sudden cur.ail-
o non, ~ Inc Ranks is ayowedly in reference 10
n. Snb Treasury Bill. We have, az we think,
yery clearly proved that there is nothing in The
sub. Trsasorv absurd as The measure il, which
can cause any serious pressure on the money
market. No man can show how Tie collection
and disbursement ofthe pu lie revenn:, in specie
can produce any great commoli"n, nos .. even en- u
Inc nresect balances are removed to The Sno-
T.sssnrv, There is nothing in the worst shape
If The measure, which viii necessarily raise Inc
;n,eres, Of money one per cent for three months
E,.idss The SrbTreasury is not Law; and we
sneak adyised,y whea We say TIA; the President
srJ his Cabins, nave no strong wish that il
should tho becom. 50. Whether it will pas. the Sc
na,e OF mol, is quite uncertain: The probability,
u ,hs, if j, passe. a! all, il will be in modified
.h.ne. II contains no provision requiring the
Secretary Of The Treasury to draw ou' the