The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-05

rear IA. next day. The heavy pressure OF su'cr
,,s..rerts upe, the columns OF oar paper VIII no
aar,,, At their reception AFTER the hour namen'
The Money Market'-P""'c ree""S
In this ctty, Saturday was very hes'y Jay
o. aIxays one OF the heaviest money paying aas'
~ .ha ,.ar. and now coming upon us in the midst
If not only n severe pressure. but panic, il be
.ama ocs Of the most trying days TO eur CONNER
>,a, community that It ever knew. Nevertheless
rosn,n.,hilities were met and notes paid Mer'
.h.,t, and manufacturers nobly complied with
go ol,lisations We believe there is not more
Lila commercial community in the Union than
oprs Of Richmond-not one more able TO pay All Il
owes, more faithful 10 its obligations.
w, 49,. .,,,,iacd 10 see In the exigcncy that ha'
-, -. a decided feeling of friendship an
"I.-n.,,, among business men--a disposition l.
.,,,h.r and 10 consider the preservation
- ,.n commercial credit Of the city as common
- =. uhirh all are interested. The utmos'
nnues.nca ia entertained in the Banks and III
-. ,,,,.,,l fading il exhibited towards these IN
a.,.,,ors nv MANY who have it IN their power eth''
IA than or t. subject them "a annoyance, The
ch,sf Executive officer Of the State has set noh"
ax.r,t. In his course towards the Banks, In the
following letter:
RICHMOND Va, Oct. list, 1851.
Ii The C1sai,r If The Farmers BInt, Richmond:
Ds.R SIs:-p,ease collect and place TO my credit
~, ynur books the within order upon the treasury
for $3.50. might we'll wish the amonn' was
thousand fold larger if my lawful due that m'ght
In the multiplied proportion. manifest my conn,
deuc, in YOU all 10 protect the puhllc credlt am!
the private interests of our people want sif'aIi
amount of funds that will pass current from mere
"a pbiladelphia-say SIS. Can get them AT BANK
without inconvenience7 Please answer III Sou
earliest convenience this evening.
Yours, truly. 1885,,
fSi,o.d> HENRY 4. WISE.
The sentiments of this letter, We know pervade
the pubiic mind: and if they but continue-if the
community holds on to the principles which have
appeared in their financial policy since the press
ure, and if the Banks shall pursue prudent
course and not reduce their line of discounts too
rapi,ily-we believe all will go we'll with us here
in Virginia, and we shall avoid those extremes OF
financial revulsions which inflict such widespread
ruin and distress, through loss of confidence and
a sacrifice Of property.
There is no demon stration of any kind towards
the Banks here to diminish confidence in their
ability to continue specie payments. They still
exnress the opiuion and very confidently that they
will be able to go without any very oppressive
curtailment of loans. The present month brings
with it large payments-the heaviest part OF them
however the first week or ten days. If the storm
can be weathered this month. we may expect that
We shall in this part Of the Union, go through safe
ly-successfuly maintaining specie payments and
bigh commercial credit. If but this is DONE i'm
mediately after the storm is past we shall be more
prosperous than ever, and our city will receive an
impulse that will increase its growth and wealth
more rapidy than ever.