Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1854-01-03
= For the Enquirer
TIE EANES AND THE CURRkNCl'

iir,- rircu!aiior 80 device has YET Deer "a, ~ ~
although t:cy have for I"ng ''"e oce ~ ,nt;orsIy To-
h,nnnu ,rir notes with their branches ana ,e,t
iin, ,Irir i;sucs go az To send their notes 10 q, h
stancc as possible calculating thet Il WIN h vh az
time for then, find Their way nome asa' ho ~ the
much iosiirc; as dog the notes VIII conc was
rturr. IF O:toha- the entire specie IN al Tue " ;ssuc
s34i7G72 10 by law they were a nos sc- % ess
s7 235 $50 g5 Their actual Issue was *lZ 59' opl nj
b - ~ go Inn they might have had in The hanus
HE people. The Banks may Issue i've i'' mo wicr
Provided their coin is large enough ty uan Id IN Thai
lin pnount of their capital and their deposits auuea ~
su,n By this rnlp the Banks might nave owed the 80
muni,y 500 $50 6l4 G2 the sane date .nc5 20 This
being sl 1851 200, und their deposits 90 borrow
tpie of things does originate from the "an' U!
,rs of bank noes for The loans and deo!S ue 10 M r.
bear nearly The relations established ny INC nf n
each oshst is TO say Inc % Uan nonnt Of lis capital"
rhe total banking capital of tho State was, Isl maj
sl 3s7, 200 The outstanding debts cue s'cl man will
s,3 O69 IT'S ST. Now do apprehend ina any 40
enh IN think ina, VIRGINIA has reached that point 10
commercial community at which circulation WIN mites
he useiu The Of The nonc!cuia"oh VI onr
uus, nririnale therefore, In oil Two causes ron
s @ Ion ouod or hev arc 700 bad for circulation ~ soo
GOOD then we depcciGte them oeioic We .a
their circulation; ii too bad, we must lenueI % nn, from
,i,,nin Thai The reason why they do not remain o' h
mn, Banks il because they too indifferent anu 'The
matcrala in some shape other, 10 Keep lheh o Il
improvement of The bank notes h eoisIalure
is 10 that question that the attention OF W &c ;ch they
should be directed Is there any other moae cy @ stale
ca be rendered better Than that OF ooos ,o,osts of
Storks3 None occurs me. IL ~ "hat INC nonos.
hs nro,tieors of the Banks demand, and nstau " hv
Ing IT, they should insist upon it, for Is inc onIy
which their circulation can be improved anu n incon
e. s iruc that the system OF branch bunRs anu m
venienccs felt at this point growing out u ''e w., Ia
of hrnn oh notes payable al every point al WIN" country
branch may be cured BY requiring he YER this local
TO keen nns here redeem Their notes ye s ia one
$500 "nJ do not intend discuss It, lhere 70 nm
rusIom in existence, which, however, shoun o ensctinp
oy rec, nm, ia The operations 10 foreign bills o.
change These bills placed In me Manu- o. hank in
80 mho rxDoRsE THEN, send them 70 soie o1 .oIJ
Npyv
or occorrt of the bank here, and the proceeds 1 for
hv The hank here with charge OF one'l cond have
the and endorsaon Of yreina 10 furnish
o,dnrscr for ono. ouarter per cent 10 tnc any
"h,rts Of the State Would the depostlns C % to he
marrhan, in Richmond upon another III I've" sn, for
-, ,hn hank here for onequarcr per cent w.
the ourpoa of giving II currency IN bdr' s T., Tho diff.
for an instant defended by ANYBODY ,J Siorrs and
,nc, hcI,ecn such an operation in the oni'cu
ne hanneninr with bIll which Is 10 30 pala a.. hs
nor,? If bank. can thus act BY the sanction 81 ,,v pv
holders (for there is bylaw o." VIZ ber. shall we place
;i, nron Ihcir endorsing And eel strongly I f
y, ihc nnuion that the banks shouo ne p.o'o hmv
teae I; exchanges 10 totally vnIue!ess and without
lnt an -,ir 10 Inc amount, brought into Inc ohte,
is 10 interest that Inc h make oncHuarter ncr
upon HE operations oil inc ehuie que
~ lana no the rate of exchange can DC coh.huto DO ~ 10
80 ~ .l,nwcd 10 be the chief exchange ope.alots'
anu my 10 rcsrIl of this state OF incls but icw' IL any,
u s;ctrs or shareholders are tho advocates OF aec
iro. with The balance OF the wora % 'ons 10 W. wi ~
v,-onia ia so directed to crush dl'ec' uu :"
s'.,c,ons with the Northern Cities we may fta.
aonsb,v r,nect the great reformation IN INC - ~
Stale 10 be slow. Nothing coui DC so u'u ~ i,c
@ 81 ma Stale as healthy foreign commerce. Notnine
cou,d on: ch The merchants OF the aa'e mo,e tn''s
n,II me Banks being still allowed to operate N eA.
wou w cc,roinIy deprive BlnSa OF their prof's on
h9 Now as trade Ia done it is to The intG-
sst If the Banks tina, every cargo oil hour or ooaeIo ~
oes from Virginia should be sent TO New OK before u
nverv cnrno of goods which wo consume should
s rpna,nInrd through New York. VIII Illustrate "hit
mean Richmond miller sells cargo OIL ioui S
h., rels nj -four for Rio II the cargo Is oouEh1 oy W
W, I'm, is made by draft on The man In New
York JjrJn the bill the banks make oncquatler per- zen.
If coffee is brought Escs !" If h Ranks ,hat
the coffee should be cold in New ORE 10 hchmonS eo
Ger for his bill being payable IN New loth' ms Dams
make one-ha per cent upon their chtck 10 laSc u" nv nv"
-, , Rjrmond merchant nj its maturity That the Is INKS
shn therefore 5e Southern rights in 'helr ana
oninons and hostile to direct trade Is natural unn Is c
srl, o1 human ni:miy State pride and PATRIOTISM are o
irt;,Iren barriers againp, sishIcss. lhat t'ryrshou
counenaucc and hold up and sustain u'ose W"p s.:p M
protuc;ions to Sew New York ard o"n gown AZ "
hc present course OF trade, IS natural ny Gazing
them Of lrom dealing in exchanges, The true Poey tn
will dictate different set OF oPihlonS5 ma pacuceT
Legislature has wisely resalned me oahSs .,o" % h
rorev N any other government State whatever b' oy
means of hills OF exchange they take Inc acrcPnccs VI
citizens Of other States, and thus turHsh 10
lhcm for sales apd commissions iNc eiiecs VI ~
State than any any other State govcrnSnt could
State go strong that should co"',nH ,or ms
life time Office; they have indicated II III !her Nohs
,u,joo IN ,Ecr elections: and in every way. AND do not
think il woni be all I'M udirons 10 require oy Inc c9u
laons respecting Banks and all other Incorporated aSn
lions that officer shoul remain longer thoh certain
term OF years any position IL Is past "l human nature
that ever man. end every Of men, will attach themselves
to certain subjects, and despite Of their own judgments
,cv w give 10 their acts The direction 10 which their anccs
irciinc lhrm The continuance OF The aanc occrs IN
Bank for any length OF tine, viii rs surely create iaVoes
in the cpa uent of the institution as that man ls human
bring remedy against Justice, sovereign cure Tor par
iiay preferences: be found IN regular change 81
al the officers in all The Banks. Bnt hn answer To This Is
tha: if you have good officer yo SHOULD Keep hl hc
Officer Bank makes the opinion OF Inc shhre!oGcfs and
if az al aTu he can render his removal almost impossible
ain very far however from believing in the vast su7eor-
~ OF any Bank officer or in Their perfection as 10 tnna
they Oh the officers In any incorporated Company sHou De
exceped from the operations Of that public sentiment which
controls and rightly the "Cry men Who al Their places
in the Capital OF the STATE are TO decide wletG5, as INC
of the people, they should sanc!y Bank OF
Gcers and all officers in Joint Stock Companies lrnm me
rules that the people have made Tor the their Judges
NC.
There ia faint evidence Of The popular wishes in this re-
spccl by requiring that the Shareholders and The Executive
shall! each appoint director every years bu every
man a familiar with Tie operations oil bank must Know
hat ie PRESIDENT Cashier and the other ohse!s VINO hle
the recipients Of large saarcs permanent hxules con-
with Bank and tina, they are really The controllers
fEhe entire operations OF The Institution, except mat one
fourth OF the Board may discount hs is pn
cipe calculated epubcansc Bank 10 distribute It's lees
and rewards lis salaries and its Offices and 10 cut mp ne
edary and monachal principle which 10 adverse 10 ioe
and equality and should be adopted feature IN OIL In
which calculated 10 destroy their usefulness
if they have any is that Of their tendency TO put into ucra
live situations who without sovency, and mast live
feeding anI clothing derived from other peIsons Every
should know from absolute personal experience that la
and economy, intelligence uhd morality arc the Irne
four dlons for position. ANY system which produces o
ersn, result is evil Interpretations Of oil kinds necessa-
ry should lock ac! their intcreuta Ii - inc business
Of Legislation 10 prevent them from reapasslng non INC
rjobls Of the ucople d. n. L.
For he Enquirer.
THOTGHTS FROM THE COUNTRY.
The Christmas holiday have broughmany OF me mem
Des OF our Legislature homo 10 their families 10 en-
oy some relaxation from business und TO mn.e amongst
heir constituents The messages OF our Executive ana
The Pr sdent OF the United States form no
,art Of their daily conversation The Message OF Gov.
Johnson is highly lauded by ALL thorough business
document satisfactorily setting forth The condition OF Inc
Commo wealth, with many important suggestions as re-
zad= local and general policy which is 10 tcvenpe her
hcrr nd hero