Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1854-05-26
TUX 7 III fTIVfININNt
The Small Note Law

The hopes OF some and the fears OF others,thht
the new law for the expulsion of small notes
from the State would be Intellectual and OF no
practical effect, are destined not 10 be realized
An immense amount of that spurious currency
has alreudy been driven from circulation, in an
teipaton of the first of June, and there are IN
every quarter of the State. unmistakabe indl-
cations that the people intend to enforce the pro-
visions of the new law, and rid themselves of e
most worthless and annoying substitute for mon
ey ever invented. Every man has experienced
the evils and annoyanees of this species of cur
rency. and nearly every man is willing and an
xious TO abolish it. The honest and unsophisti-
Gated people Of the country have already posi-
lively refused to take shin plasters and the mer-
chants and others of towns and cities can have no
motive or excuse for longer giving credit to such
trash The Board of Directors of the Danyllle
Railroad hive adopted n resolution forbidding
their agents to take or pay out small notes here
after, aud the Directors of the Central Railroad
have come to n similar conclusion They have
published the following manly and patriotic nd
yertsement, which is worthy the attention OF the
law-bidiug every where
RICHMOND. May %, 1851
"The Legislaturo,by an act of the last session,
having prohibited the circulation of notes of less
denomination than five dollars, after the first of
juno, the Central Rad Road Company regards
the strict Observance of that law to be its duty.
agents not Ia receive or pay out, after that date,
any notes of less than five dollars, either in the
settlement of freight or passenger fare.
Persons having any dealings with this Compa-
nv cannot expect it Ia furnish the requisite a
mount of specie for change they will, therefore,
be expected to provide Themselves with the prop
en- amount topay for passenger fare and freight"
These are fatal blows TO hin-pasters If
every public company in the state would show n
4, IA, tln
land they ore bound by every moral obligation to
do SOL not small noto could remain in circula-
tion six weeks hence. VIII not the Directors of
the Virginia and Tennessee Railroad initiate the
example of the Dnnvile ard Central roads Or,
will they persist in violating n law of the State
for the sake of mere temporary benefits The
question is one of serious moment, and the Dl-
rectors ofour Railroad are respectfully called to
its consideration. NolG is the time to act in the
promises and to act firmly and deeisivcly.
so persons suppose they can violate the new
law with IMMUNITY, because voluntary informers
would he unpopular, and consequently few. This
may he true, aud it may not; but it must be re-
memhered that the question of the violation OF
the law will be one for Grand Jurors, ust as O.
! Their msdemcanors, and that they will have to an
swef on their oathS whether any nstanc of such
violation has come under their observation -
How will they escape answering under such cir
cumstauces
In conclusion, have "A suggestion to make tc
the banks of our city. They can he an etfectua
aid 10 the people in getting rid of the worthless
trash complained of. Suppose each bank to OBJ
tain from the mint ut Philadelphia or elsewhere
say $4,000 in denominations of dollars half
eagles, and three dollar pieces. They could OBJ
tain it without difficulty and with little or no ex
pense, and it would give to tho people here for
~ thousand doHars in change which would b'
more than sufficient to supply the vacuum crea-
ted by the expulsion of small notes from crcula
ton. Nor would this amount be entirely or per
manently withdrawn from the banks,as many sup
pose. No man would keep in his private vault
more Of it than would subserve the immediat,
purposes of change, but would make deposits o
the balance just as they now deposite their note
above certain amount. In this way,a legal AN,
substantial currency would be given to the com
munity, by the assistance of the Banks, wthou
subjectng them to the least Inconvenience or in
jury. Will not our Banks perform reasonable
and beneficial service to the community w
shall see. HARD MONEY.