Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1854-07-14

Of Er,ittn.k y, ftaaessGr, Miss,,rrl, Ml'rlasilH'' " ;.'"i
ban!a Ye.' the iaru,::I. land. III the latter, dIs Fn'ht'
ut about $50? per acre, while farming in1G 4, II .r !Ms
former ARE estimated AT an average 81 s-.,,': Nv
farliir. lands i'll Michigan are valued ~ ~ IIrr
acre, while those Of Kentucky are Piia'rl ~ ~ a.;
S6.yl. In Ohio, farming lands nrc Haiueu NJ sA''"'
per acre, while those in Missouri are estimated At
$500 per acre. Are not the lands IN Missouri W.
Kentucky intrinsically about rqua' 10 ii"SI !" :,
san and Ohio Yet what ail astonishing u,SPhrnH ~
cash valuation. We cannot aScrlb1 this dihcfchce III
values To %suvthiur ~ lrgitinaiciy, rs to tie dement's
flowing from the superior c"'i'i'clc'd' '"''r'"' "
the two more fortunate States H.,
The farming lands III ' ir-ihia W ~ W w. ~ ~
census returns at 96,l52.3ll acres, which at me ave
rnrr yniuu,inn ucS9.97 per acre In Worth S-lu,ilV,iii.
Suppose the people by advocating aud encouraging
induce IL great extension OF our commerce, ui' 20 !"
consequence were To double the present Nhiuc Oh our
,nr,ninr IuriLs, or elevate their cash price up I"
,bn W,rrjord standard of 1851 per acre, who
could calculate the direct and incidental dement's
resulting to all the great interests OF the state !
Who dncs il ST. well become To- tnkc the initiative
in this great movement us Inc COUNT! p'"l'c H.
Under this impression wc respectfully invite INC
c,-,n.rntiun and aid of all parties, all interes;-, anu
MI classes. II true To tllcmselret-li alive L" tlc lu-
ture uruspcrity of tho Statc-wc trust they VIII nc
tiyrlv and efficiently exert themselves in this great
common cause. The facts heretofore adduccd rcla'
five I, the extraordinary average value at ;hc farming
lands in those States enjoying the JOINT advantages Oh
commerce and agriculture, adin"ii!rI us tliat 'lc ln'lu
owners in Virginia ought not onl tn feel adccp ihter-
est in our commercial prosperity u oi
10 stimulate and sustain whatever movements innE oc
directed 10 the accomplishment ot that emu. Inns Is
emphatically the great question "i Inc ""f. :EI '
Ia DELAY prompt and decided action would ne T"cl'"i.
Our agricultural societies ca'i rcl"er Srt". y. u ~
iIuprrssiur upon their members the Importance "i Ell
c,iirnrin~ direct foreign trade, and inducing our cG"hL
trv and village merchants T." purchase inc" H'".h Vi
goods in rirginian cities, because orSahiIcu S"'ic.es
can accomplish great results ana II ms pcrh '''"n
,hnt nrrbnps of all methods ui enhancing 'h' 'ai"e
= - l,,,o, NINA uromisr more INV OTn)lN VI vi
ccrtnirly 10 attain that object, Than ralhu mnl 'A'cii.
siyr augmentation of our commerce.. inS src"t
o,estion, involving the future P"iic! ana "'S'ir! 81
the State, appeals VIII Grca' l"'P'"'' "7N"
tural classes for support.
" entitled to due consideration. Suppose W." we're 10
mike Richmond, Petersburg, Norfolk anu .N'rNni'-
dria,c centres OF trade. or III DINER M't"s, m ~" '
.;,uotion relatively to our own Sta'c' "h"' ,''n'
pt;InI.Inhin. New York and Boston are 10 ihclr re-
snrctiye localities; would not our spccieiunds Ee more
abundant, and our general circulation ieS" ".,'uhtli'S
mud therefore more healthy, because less im'uticsd
Im .ax,rnnnons considerations, aud more inutcdricl.y
r.snnnsivr 10 the cXigenclcs AMI tIriliilnda ~ "Hr "Wn
INTERESTS and wants {! When the great c"h!'ncrciai
cit;r. of the North have 10 pay cash dntice upon nm
porte,l merchandise, they seek their supplies rom uis-
iont points, otherwise the Specie III uIeir Guy o"iihS
,rnrld snnn he exhausted, aud down would Z" both
thr:r currency and credit. The substantial amount OF
sl,ccie needed in each comincrcinl centre mas 'hen u
he drawn from all tributary points nm" mus ny 'aTi-
r,, .y,,llieits the cash lNlus o. bI phHh Nt H'ut|
u w. IN ,l,cir PURPOSES. The brokers, i'll luying
tI,.;r hands upuu our specie, must either .cGd II 10 the
lurrc importing cities 10 sell to those paying duties or
else hold il for speculation upon our circulniihs oaik
INNER. Under this "survcIllalltc' our Dahko are IT,
i,,.j h, exchange lursc amounts with other banks at
r,,,,,, rn;nts so MS 10 make II more announcement TO
,.t notes in the vicinity Of the banks issuing them, to
he offered Mt their counters for cash, or It's equivalent.
Eut If banks. from whatever cSigcncy Oh by whatever
device, discredit their own noic-, they cannot ration
III. .-,,.t thnir MINER tN rpnlnlu ut par. SWCl eNIC-
dicu,s, therefore, by au-mcutiIlS the discount on tier
notes, stimulate the appetite OF the broker by ell
HANGING his profits. ,Lo
Eor,h. hus converted our banks from independent
S;ntc institutions into PROVINCIAL banks, because
thew are by the laws OF commerce., appeldaSes Vi
ror;hcru trade, worked as auXIlinrles during lis n"ou-
tide, and us subordiuntcs required to bear an unduc
rrnnortiou of all money pressurcS. But the DaliRs III
The trent northern commercial cities being al lcad
Quarters, their business men aud patrons 70 reiie'e
them in their hours Of need, draw Tue me p!ooa iFoni
mr. nroyinciul banks. By this method, sustaining
the commerce and banks OF one community D! ae'
pletinc and Gripping both the trade md banking IN
t.rest in all tributary points. /: We abandon our Gus
tom Of dealing so exclusively with the Norih,t would
not only materially relieve our banks from these
everlasting drains to sustain Inc commerce. u "her
States, bi,. enable them 10 MAINTAIN IN realty ana III
truth, .boua iidc' specie payments, ana 10 second
moro powerfully whatever commercial enterprises
we might think proper TO undertake. 10 encourage
direct foreign trade Is therefore Tue truc lo''t! " Jul
state banks; and every motive Of self-interest nnd IN
dc,epdrncc, ought to prompt them to second our e-
forts.
By examining and comparing the amount OF bank
;,, c,uitrl md circulation, together with their dis
counrs and bills OF exchange, We find that in the great
Commercial and agricultural States, there exists II
most remarkable difference in favor OF the coininct-
c;oI States. As illustrative of this position, wrr'icrto
,Ia fnilnyy;nr tables taken from the Repor. OF The 81
cre;nrv Of tie Treasury OF MHrci, Sd, 49,, on the
h,nks' e the various States, which purport I" have
- - ,nnr,r.l uoar ,hc rlns, of tie wear 1872: