Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1854-01-06

zeI people "soas cf keeping al foreigners from entering
d When The people 1f territory fail almost entirely TO &c.
veope the That has placed q. their conl-
mand the interest OF civilization requires others to go IN
aui possesa the land They cannot should they &c al
oYtd 10 r!ay e dog in c aRgr aEI Keep ohes from
possessing she: they have failed 10 occ9y dni aTr"pr
ate
Mexico has performed any cf The ordinary dGiea Of
Government towards The people OF Lower California. She
las established ard ready means OF communication
rDf The people among them or The OF the World MOI
Ina che undertaken pu;tci hem rom The wen1et
ing rnobsrs who niel &c !cI7c:y. Ihu' abandoning
tic peninsula dni leaving 20 wEs - wa "a ie wa
ers Mexico cannot Complain c!iern tiHe u anu MAKE l.
rana5!c.
Ua such considerations have aEi Fly companions in
arms acted in the coH!sc sc nave rur5ucl And io Inc
o enterprise pot on1 trust in hin, WHO con-
trolls The Jesnies o n:ons and sdiaa them 10 ne "ays
Presiien, oi Lover Caiotri.
THE BANKS AND THE CURRENCY.
/ 80. "
The crcJi o! the ComTIc wealth has h"an committed 10
the internal improvements c he State The whole OF on!
projected iGcs mus; 81 CcpictiOn. Fo rowcr can pre-
vent it, Sonre OF lais bv means s'sd rT6n the iah q
the Said Inc whole of the leading res o rail roads III
euG n.us be fnialed This EilEE Into rXstrnce
vast amount OF labor which will br pa or ou Of the "a7a
derived f.ca the sale of State bonds bonds made current
pY State eniorsalon BY compelling bank ss"ca 10 ne pol
toned upoa State per cent sucks, limit 20 hi extent
will be- pacai upon the expansions Of tho Banks RG with
out ta restraint wha. 20 he the os n.as? Sim
ply that Stale stcckS will be sold beyond the ma Of the
State cGI proceeds Brought into the STATE cE thtsc
orocesds viii 10 vf;y short ,ne find their way lhe
basin Of b2nsia2; nnd then comes on expansion G: TIC
banking system Of the State Let u show the a; os E's
noposoa We begun Issue and sale o. State sIccks or:
or wo Yeats go TIE as! session Of thn Legislature crna
ted o six 10 Ten millions, and wha has iao'
t1 arcc addition the banking capital Of The Slsc, oi
naay wu and half millions Of dollars In twelve cigh
,rcn months. Ic system Of State osHS aud appro7ria-
tons "a n r!aHcy and The tendency TO expansion H on
ia MARI OF ;hc banks clcay msrkedadccd, has already
commenced Unless checked Gnd bd'rd II %;li carry us
into tho widest expansion and eXtIasapance 40 not IA
pto nm n
action Of e State in the premises ay only ous!EesE Il
c show tie dangers 10 be unprecedented ara 10 Suggest par
remedy weh to avoid hn eY,!s when M must follow
a their iisucs shall be guaranteed 70 their Eoe holders
and 10 sare the banks themselves from ben" engLlphcd
by increasing hc operations; end let The increase OF bank
~. rcn and hc depol..cnl under that increase, take
Mice wou, any d:ltment 10 Tho public welfare or Their
on safety The tendency Of tho system aa!s mas Deen 1ha
owovs viii be 10 expansion and enlargement Tic liiniia
;ons ia al n. charters which Originally suggested by
hn pesenl prcsdeut Of the Bank Of Virginia that no banS
hod exceed III loans and discounts twice It's capital is
sornI an, isdcious pIGtipc and aliough an express
provision from which cpg mol Ia be allowed 10 cCpa
set was in c returns made 10 M ESee9"e Soo s, S 'e.o
y ihs N6,lhwt:crn Bank o: Virginia slO3 597 o. by the
Bank Of The Valley sll7977 81 by The Ex:hsnge Ban1
s3O7 zoo 81 by Tie Eana o Virginia sl52.W+ ~ masng
,oGshcT 81 596 90 Of l!egnia,c loans ard discounts
ard involving every Bank in The State not oolonen upon
! State per si6css IN locaFe ol 'Heii CHARTERS, n
Lemnos'taru beyoi question Tue proposition contcndeh
inr in ury"us orcc that the spill, and The le!tt! OF the
bwcen the nta and the Banks are both yc.ted
lin
Wpon lhen It Is true the State Stock is have hsd on!
hort tne 10 develop hr inc!naIIons; eEouSh however:
has occurred demonstrate HAT one OIL Inc oicule 10 De
nuarded rcaia is the want II integrity IN he dcc:oty ana
very much aouaL policy doe' mol require mat
the Govsro, eioui nave 'o spPontlneh OF par o. 's
Directors In ev1 9nt oF m h"adaJ n @
10 bo.h se OF Bank Commissioners, appointed by INT
S O. Ill i hd shGaId Snk Fl IL e Il" You'd s:
= @ AID Spcs ,sH a.Cse 6 based apSa
Of The STATE a..ics the assumption that in anoant l. is
eph hundred :h!on Of dJars In tohnd nuiihea, " c
mos TeIubI. calruaton tho circulating medium may be
one to thirty sCme writer's have stated as low rs one 10
,ii.Ity 20 and Jle!s high Is one 10 twenty hvc)
have taken The nGdun upon this sunpost'oh Our circulation
could be in rond nr!nbers 81 UOOO00 Uciuse l*t The
circulation os 2nk no;es from 'hc BanSs in Virginia was
SIG 597 56 g. lhclr deposits or IN round mum
,rs ,oseths. eighteen millions G! dollars Now, II we
nav ,sma,e a circulation r gold sir: small notes and
, note. CT che, S,aoa. which circulate in virginia over
and above tho ln1unl Of Vrg:. notes which 60 into Other
S,... a, The lr"HcG between eighteen and twenty
milGns we sa, compelled 10 fi i:ic circulation nj
;s su:: Ii our ciIcu!aen be fand this ~o:d seem 10
be the casa i.on fact tha. our Banks can circulate no
morr What spectacle do ne present "a l're and power
"a Srnr viii tic power 10 eSre he worthless issues be-
low s. We ar, allowing vast amount nt cur own ngtes
- bo dive, IN ,ron our ovn 8ania and their places taken
nv money Instead therefore, U aiiow-
np and encouraging iasues the Banks orshl 10 exert
nvcrv r,racY hey have prevent lner circulation Bal
tha eossurcmist devise md ont The REFORM II s
dua 10 The reopp the Banks lGd 10 themselves III We
are 10 live OF law snd DO c9Teru &c pay ta%ts -
annnnr the poyrrmcnt the natural inference Isl we should
have lis protection Bat and above hec c0fsltd-
iona there is e grand and imposing proposition Ia wicI
,,o rrna phoaH have 1c!ca and that s, mat Ire Sae
n,t i;i. an expulsion from amongst them c; the
precious metals pod Gree upon them valuces? substitute
Tor nelr abor. This 10 an outrage against winch nolns
c,n hn brought Is naiRlon for II anything be r"e Il
Kat Ihe ia5ornr worthy Of lis tr end dare maintain in
n his behalf thai s entitled TO II in good MONEY yea IN
gold and silver The opinions OF eroses oanHets ShSSeFe
and their defenders The contrary n0t"lths'anaaG
Inn sirike eli Ten per for o:cr estimate md re-
hIs sum ossO GOO 900 s720 100000 (seYen hundred
and twenty mona) ami aTFy the medium o one 70 MY
,,i.n
IN nlins In roundnumbers We shall ten have eighteen
millions for our yan circulation and dero.ts-tnn' millions
in hc notes Of ler States, million l1r gold hno SILVER
md ropner and million for the miserable srbsltutes oe
low 1--WE dollars And this last estimate seems 10 me 10 Dc
near the truth Although no certain data can DC rnsne up
on which the caaton can be Innhe II s cohJectuu ana
10 scrrs 10 bc rcsco.nbe. Now how sad picture We
IS have to contemplate currency OF s24VGVoVo IN ws
ono dollar OF The metals oay Is me oe o' u c p0s
d crnse and the anes, principles OF political economy
" for certainly all of the ansact"ne below u, ana M
In hn change between the denominations c 80
Gin slS and so On up The precious metals should he nan
died Instead Of tc!ar shin ana INC Tscons az
low down 25cens The PERMISSION oy e ~ he com
of reons Il truly moas'rasiy and readers me tainle
10 &c, on The pa Of the Lc2i"!1c c:!mEa! 10 m "'se
c " ,vs oqdea .ha, pon, In The history o banks and
,c cnrrrncy mhch e results Of ho system ma ft9'-
ead almost an l:ire expulsion n tie p'eeo9S t's I'm ~
c;,nI.ap Eysry scnIuen, which can hda!ess Se: "
hnac who re].r must demand change IN lis enoehci an
whist 10 all entiTe m y, '
Il fabric bfcanst ni iis ultimate conle''on ' ' a., -
~ M, c,mmerce: vs do not wish 10 see tie pre-
own away for sonnes sTsh and soSny as
e @ snv demand Tbe scar 0f ci!Sis is wholly ground
css reforms advocated in hSs9 m bs ssj Mhos m sntse 2c
] suard oven preatc- and radical Changed There
Ieen favorable c%s" IN syss s sI of ,e Com. me-
State opacing ho cn';tc hanh'ms s ,os, y rbnsc wr
II r,onwealh unon GOOD basis e. eau rest io T.,
IT, will have many % ssn'@sn to [ssi c ne he
e aenc Is tho progress OF the puzzle W. shonId
s1i'I noi dcnse our cnrrencyby meaos We should
render nearer sPec Il possible as goa , "a
,esnec Tho only security for the eorency o. me Fsp
soc The integrity of B1nk oes n
That not enough mike paper currency as sa m ="
c,r s Il can be made however reliable as Fen 'he Pcsc
cicers my be- Put the guarantee Of the sIae to every
bank non and then carries on s ase 1 NO. ib I ,hc
,n,i,v Of hc officers Of the BANKS but INC "i' oi ''
TENS his hegnni the stronger VII cuan me %aA' ass III I.
J! Of line ;eaereascn. Of the action a :e D.
i"Te But l. it sonnd policy bring soat ra2et n M N
which ihe chief elements will te hn Vsue "i :s Pam
which The State has authorised But as dsseni 10 Io
from he proposition lha, one sc' o ~. snI i