Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1851-03-28

To the Editors NJ nc E19uirer
be leave through paper Ia call the attention 81 the
General Assembly currency ii the Stateai ms time
ii is known ALL mat the Constitution {" the tnii"
Suites prohibits the Srics separately rom coming none
but il ia known, a, that they d. u,!e through banks,
the currency Of the corn' aud they ve uod sraken 50
do claim the for themselves alone a. S'ute 10
% win be admitted ihat j, Is the aay oi State 70 !ur
nish s;cency Tor The business OF The people o a STATE
and in such of such value suitable Tor the pnr-
pore md also keep such currency sound II possible II
these propositions he admitted mink II il the dny OF The
General Assembly row. authorize issue ot notes ~ less
denomination than five Gpll1rs hy the Banks OF the State
That the community of the whole State may say, require
notes o the value indicated is evident from The tree ccna
lion Of The small Banks other States; such
circulaon Us Il reluctant taking bya business would
imply but zach circulation from hand o hand, aS ID con-
stuie them part the currency The State and that too
in positive violation oil Jaw And why is so Because
there is time, scarcity of coin, and i Is absolutely
necessary tina, there should substitute ant ne ntcrss'
" for such substitute great TINT the law o! the Had
against the circulation OF small notes IS migratory
Thes: things being true, ifcn what ought 10 o. aoas
to afford suicency Of good currency md Keep god -
If the General Assembly VIII pardon ne or tSe pre-
sumption beg lraye suggest that the Banks OF TIE
State be Immediately authorized ID ISSUE small notes
Then the citizen would have good cnrency bapkao e
and redeemahlc currency and the business nicn OF ne
towns and cities o the State not nced 10 pay p'e'nms 10
brokers' for bank notes. And by such IN ISSUE we
currency would be Kept soaa for the banks ' of eFaa
10 keep tile spccic they no" IN haEc ard hold aShis
the storm. which coming ;h part >. inc c9mnercia
world; cloud as iarg. AS mans hard now above '
horizon and 10 Is not observer u the comnercli '
ran,enl vino has not percssedit
Then r.essrve yoGr State currency for tho benefit 81 INC
citizens primarily and the Banka Incidentally by the ISSUE
o sinai: notes that me Ranks may retain nitch CON hs
,hev can 10 meet demands thar viii aesU.cdly be MADE
against them before long and prevent suspension again
q. spesie payments
It's e.d that small rotes vii hnnisA specie from cireuia
tion So they vii. Bet lie snail o. othsr Bank
vii! do il as electnaly eye ocy have done u
And what becomes Of the srcce vixen Withdrawn rom cir
cnlation WAY The BtNs wkich .saue The saal notes -
(; and retain. ...ainsi CAS- s. !; At premium
"a hey nav deem cxpeiicni. Oar Banks are dfan"t @
specie 10 ill TIC Golfers c Banks OF other States ana w'
have hf irredeomans Bark IN place OF y. Such
state nf things ought to be prevented ii possible have
been opposed 10 snail circlson ard ehouid ee op
posei 10 il now i: ii believe there necsssiV
Tor it, But w;!l say, the tine that i i folly L
restrain our Banks ana permit thc Ess ~ "ty":
ard he District on enc side u.s. ~. ii North Carolr.
the other furnish large portion oi the cuFeicy d ol
State rot only te great nro, but - the absolute d.
advantage Of ou Banking institutions. And however deal
rabe il might be- Of State 7clicy 10 prevent ~
circulation Of small. notes, i; e useless atamp' II h.
legislation unicss States which surround vii en.
into compact with iha; they vii! prohol; their Bank
.rom suing them as,.
hore Therefore that the Gene,ol Assembly will .e, 4
this Sc sson pass law authorizing Bans: OF ho Stat
10 is TIC notes If less denomination than five jc!iIs.
/ Mafc. l9, ISL. CITIZEN.