Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1847-04-07

RICHMOND ON BANKS.

t kItHMOND UN BANhS.
gJeWe had prepared a week or two since re
view of Mr. Richmonds wonderful production on
Banks and Banking but the following does the thing
better justice than could and we therefore copy
it. Read it,
From the Wisconsin, argus.
THE GREAT ADDRESS.
We have Just waded through the famous address
of Thomas Richmond, TO the farmers Of wisconsin.
From the way it has been published and re-pub.
lished puffed and re-pufed by the whig press, we
had concluded that there must be something of it.
But the way he murders Political Economy is a
caution to all the sciences. By the way, we find
that the Western Star got his reasons in support OF
his 9Th objection, from this same old coon.
The said Thomas commences his argument by
assuming that there will be no body to buy our
wheat, but worthless adventures who have no mo-
ney or means of their own and are entirely depend
ent upon borrowing. This assumption, as every
one knows is entirely gratuitous, but for the sake
of the fun will grant him the benefit of it for
moment He personifes hard and soft and dubs
them Brown and Smith Brown, the hard, he To-
Gates in Wisconsin, and Smith the soft in Illinois
IN B. He had to 90 to Illinois to find soft Smith)
Well he starts Brown and Smith off to Buffalo to
borrow money to buy wheat with.
Smith who can buy with bills goes to Buffalo
Bank and borrows $4,000 with perfect looseness,
and starts for home But poor Brown, the hard
Only see how it fares with HIM He is a Wiscon-
sin hard, and must have specie
"Smith returns by first boat with $4,000 in bills;
Brown tries individuals about the city for the spc-
Gle none has it. We say, they use bank bills; we
have use for specie
Brown could have borrowed bills Of individuals,
then? Well, why did he not borrow them and step
over to the Bank and demand the specie! Oh! the
bills would not be on the Buffalo Banks. Wellsup-
pose they were not how long would it take such
man as Brown to exchange them for bills on the
Buffalo banks?-Not over ten minutes at the out
side. Or, how much would broker charge to
cash the billS1 One per cent on $4,000 would a
mount to 500; clever little sum for fifteen min
utes work, and one which broker or even mer-
chant would not be likely to let slip. They would
soon contriye a way to get it out of the banks--
But this would spoil Mr.. Rchrnonds plot; SO he
makes the Butfaonians send Mr.. Brown to the
banks.
YOU Mr. Brown, must go the banks. Well, Mr.
Brown makes his way to the bank. Mr. Banker
says he, / want to loan $4,000 to by wheat with
at>ouhport. Very we'll, replies the Banker.I have
Just let Mr. Smith have $4,000 at Little Fort
What paper can YOU givef Mr. Brown replies
i can give you my draft at three months, accepted
by So-andSo. in New York This will answer;
YOU can have the money. Well says Brown, ;.
suppose you arc aware that Southports in Wiscon-
sin our constitution prohibits the circulation pa
per; | want the specie / can't use paper money
Very we'll replies Banker, then cant accom-
MEDIATE you; you must go where they keep specie
to lend We kecpit only TO redeem our bills with.
Now steady, Tom, and let make Mr.. Brown
talk little.
Mr. Brown Well, Mr. Banker, ifyou will not
cash my draft in specie, suppose | will have to
take your notes.
Banker Very Well Teller discount 10 Mr..
Brown $4,000 at three months.
(TelIer counts the money, and Brown takes the
biIls)
Mr. Brown. Banker, you say You keep your
specie to redeem your bills. hay 50 o2J IN your
notes, for which Want the specie.
Banker But | told you | could not give you
specie Tor your draft.
Mr. Brown. 1rue.but yon win not refuse TO
give me specie for your own notes.
Banker But the understanding was, that Won
not to demand the specie os these notes. We
want our specie to redeem our notes about home.
Mr. Brown. I have just been round amongst your
business men and they all say they have 10 use Ion
specie. Now have use for Ii, and you must hand
over OF burst.
But Mr. Richmond will here interpose and tell
us, that if Mr. Brown tells the Banker that he can
only use specie, the Banker will not let him have
even the bills. But Mr. Richmond, cannot Mr.
Brown keep that matter to himself till he gets the
bills But that again would rum the difficulty
which Mr. Richmond is determined MrBrovn shall
experience, and he sends him off pray-coW-giyc
neniE, -I-giye -cat-miIk-cat-giye y-iou9-tul
again Grand
well says Brown can you tall1oc where can
get it Not short OF New DIRK Boston ] tain,
and perhaps the mint at Philadelphia. Mr. Brown
retires and takes the cars ion the east, stopping at
Rochester, syracuse, Utica. and Albany, trying to
yet Specie; but failing al every effort, at length