Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-12-14
Small Nofes.

Small Notes.
"The controversy in regard the circulation of small
notes narrowed down this simple issue either the
Legislature must give up the idea of specie
rcrace its steps, aud empower the Banks of the State
issue bills OF less denomination than fpe dollars IL
must devise some clicacous enactment than now
exists for the suppression OF the shnplacr nuisance
perfectly manifest that the Legislature pursue one
OF the two courses indicated The existing statute is
toriousy imperative Not only do small notes" circulate
freely aud universally but this coutraband currency has
supplanted the Legitimate currency Gold and silver have
disappeared, and to supply their function have the
paper issues OF banks whose olvency uncertain
their locality The existing statute against small
contemplate sbortion-of whit more effect than
the statute against blasphemy."
Thus reasons our neighbor of the Enquir err in
yesterdays issue of that paper. The 'shinplaster
pest may work its own cure. The currency of the
State has been polluted with il by the action of the
dominant political party. All their efforts to the con
trary have proved "a contemplate abortion" we are
now told. That looks like talking plain common
sense-the results Of every day experience. 1t has
come to this then that the gis of the whole matter
is our Legislature must devise some more eticacouS
enactment than exists for the suppression Of the
shinpaster nuisance, or, empower the Banks of the
State to issue bills Of less denomination than frc
doiidrS.' This is precisely what knew their for
mer legislation would TO at last But it is again
proposed remedy the evil 10y the following reso-
luton submitted to the House Of Delegates on Satur-
day
by Mr. KENrER that tho Committee on Banks inquire
into the expectancy OF adopting rigorous and eff
cicnt prevent the circulation of notes under
the denomination OF five dollars that thew inquire into
the eNpediency of requiring the Commissioners Of the
Revenue, before Issuing licenses the merchants of
their respective counties to such merchants take
an oath not to circulate receive of the said de-
nomination"
Well vel had oil 80
resolutions to inquire into the e1pediency Of adopt
ing more rigorous and efficient measures to prevent
the circulation of notes under the denomination OF
tive doars'-of the character of the above. The
time of the House has been spent session after ses-
son in inquirng into the expediency Of such resou-
tons, while they amounted to nothing in the end
The last session Of the Legislature afforded abundant
specimens of that, which will be remembered by all
acquainted with its leg station on THE shinpaster
pest" The resolution recommended is but a
rehash Of similar ones proposed last winter and after
occupying the most profound consideration of the c-
gslaure, to profit whatever, were laid aside Ii
is very likely that this one will share the same fate
after it has consumed consider able portion of the
time " the House.
But If it should happen to he adopted, as another
trial at more efficient legislation vha, would it be
' worth, we should like 20 know? Would it answer
any practical purpose? In the first place. it would
subject mer hantS and their customers to the creates
inconvenience, If the former should, perchance obey
the law. What other currency pray have the peo
PIE To offer in the purchase Of their necessary mer
chandi>e-thoSc OF limited means AZ least Int shin
I plaStcrS: Gold and silver they have not and cannot
get The merchant must refuse then the articles O.
their everyday wants; and So far as his custom in
their line goes, hal well wind up his concern.
Such would be the operation cI law like this upon
the poorer classes Of society for tho plain reason that
their rulers would take away the currency they
have, such as it i, without giving them any other
This is the fix that class would be ci in Upon th,
weather. classes, it might not bear so h6rd-those
T whose purses are pretty well flied with bank notes
above the denomination of five dollars, and who gen.
orally make large bills with their merchants If our
merchants had all such customers to deal with they
might get along under the obligations sought to be
impose upon them by the aforesaid resolution
Their business experience will teach them how far
they would be enabled 10 do 50.
4 proper regard for the oath proposed 10 be adj.
ministerrl under that resolution is about all We see
that could effect any thing in suppr Ssng the shin
plaster pest 1t seems to that equally as binding
obligations have been incorporated in the present
stat-tes 2ganst the circulation Of small notes The
Ijudges'and .uris, C: the State those to whom the
enforcement Of the laws consigned are bound I'M
der a solemn oath to nfi,ct the penalty laid down
upon all who violate tho statutes against the circula
ton Of this currency. How faI have THEY respected
the oath Judges, juries and all, have been guilty
Of repeated violations Of the law and have treated il
as u mere farce, from end ofthe State to the 9th.
s. What more respect we to expect merchants,
or any body else to pay to it
If all the additional remedy sIis Legislature can
devise to furnish the people With letter currency
than shnplasters, issued by any one VINO cnooses,
from tneatyGcc cent? up to five dollars is contained
in the resolution proposed the House Of Delegates
/ on Saturday. oar Democratic friends had A. well
take the Othe. alternative without any further cere-
mony, useless legsaion and at once authorize our
State Banks to issue notes Of less denomination than
five dollars. II will have to come to that before the
State is rid Of the nuisance