Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1848-01-11
Dec. "a. 1911.
Ia The E1iLnrf of he Ennuircr.

To the Editors Of The Enquirer.
Gen,lemen notice in III. Enquirer to-day IN
extract from The Baltimors Sun intended 10 warn
The Virginia Senate against the "repyoach" Of
allowing small notes OF the Virginia Banks 10
circulate. The Suns extract has little efec,
nearer home. presume; for, same sho;, time
since, thousands Of One Dollar Baltimore Bank
Notes were pu! in circulation in this place by
The paying of canal hands, &c. Now, believe,
our people are as law.loviGs generally as any
in he world. Is il wise in legislators wasting
lime in passing laws 10 say no such noies shall
circulate here, when il is we'll known our Sta.e is
flooded with small notes from other States7
believe nine-enlhs of the people prefer Virginia
Bank Noles. Now owe you money, and, by
way OF sample, send you variety o. small
notes. A SUBSCRIBER.
Fredericksburg, 9Th December, lS47.
I'VE publish our friends Gard with great plea
sure, desiring that the Senate, which is TO acl
uron the subject, should hear both sides. Our
opinion is still interchangeable, that i! would be n
mischievous policy to legalize The issue cf small
notes, and thereby drive away the circulation OF
specie currency. The views Of "Calx," pub
lishcd by US few days since, struck US forciby
We commend them 10 The consideration Of The
Senate
Yes,erday's Baltimore Sun commeul. a, fol-
lows upon This subject:
SMALL NorEs-lD announcing the fact few
days since, tha,th lower branch OF The Virginia
Legislature had passed a hill auh ,rizing the is.
sue OF small notes BY the banks al that State, we
coupled an expression OF resre, ihereat, with the
hope shat the other branch Of the Legislature
would defeat the measure by refusing 10 concur
in the action Of The House" This the Rich.
mond Republican seems 10 think rather pre-
sumpiuous on our part and speaks Of i. as being
"modesi, very" |, also characlerizes j; a. "a
very natural hope on the part OF the Sun. when
/ ii is remembered ha, hundreds of thousands OF
Maryland small notes ale in circulation in VIZ
siaia." The editor docs Rot appear 10 be aware
that This very tact furnishes the strongest argu.
ment against the measure, so far as the grenl
mass Of The public are concerned. II seems 10 be
almost invariably The case, that he small note is
sues Of banks in particular localities are ciicula-
led TO a lar greater extent abroad than al home
and thus where there are banks or other insiitu
lions so issuing in several States contiguous 10
each other. he people o! each soon find them
selves suffering The Inconvenience Of f0reign
small noie currency. The notes having taken
the place in the community OF specie, TO The eX.
,eni OF their issue. they soon gel abroad mol only
through the muliiiaIious channels q; travel and
trade, tu, oiieniim:s b. efforts OF special agents
and the moment they are away from home they
are more or less deprecated. These facts, in
connection with another equally striking, thai
such OF the notes as remain al home are boarded
as are other bankable funds, FOX purpose Q! tepo-
sill, &c, llius making it actually necessary that
they Circulate abroad principally -geader them,
i, will readily be seen, positive evil 10 all class
eS.
The Norfolk Beacon, while j, iayors the pas.
sage OF this Identical "smali no,e h'l!n bv The
Virginia Legislature. furnishes US in the foow.
Ing paragraph some Of the sironses, reasons
against The measure:
I'll the States north and south OF us. had net
authorized The Banks chartered By them 10 issue
small holes, we Nigh; stop 10 consider The pcicy
OF The measure upon praori reasoning, br; We
arc now q onded viii the notes of the North Car.
DINA and Ma!ylahi Banks, which Oh up our
circulation under IS, giving he prof, OF their is
sue 10 institutions which pay no bonus and
maze Nc dividends for The bensf, al this com
mouveah or the stockholders in lis bauks.-
But wore than all ihis The loss ia heir d, precia.
ZION, DETACHMENT and fearing Of signatures gen.