Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1861-11-08

the Country was flooded With shinDlas,ers
tnese small notes were not received on the
l. 'Sttr I'm Shore and what was the CONSEQUENCE:
During the whole period of suspension. sir
We had As much gold and silver as we wanted
loraIi the purposes of ordinary traffic. If YOU
went during the same period to the CITY of
Norfolk, Il distance OF over ihrtr.fve m;Ine
from uIy cnnnty, you would lind it almost
InFoSs!o!e Tor you to get n note Of any de-.
scrlptlon changed into gold or silver, eyce,,t
oy paying some five or ten per cent. You
could get IN that city the lowest. the most
ragged and the most miserable locking paper
you ever saw, from North Carolina, and some
portions of tins State.
In 1917 there was another suspension md
"" refused to receive these small notes on I'M.
hlstcIn Shore. The result vas, US in 1887 !,
suprrabnndance Of specie.
inere has been anolher suspension siuce
tneh; ana the sane consequences resulted
W haa q superintendent of specio. -
o'her places, where small potos -
c,o HrS Z perfect csa7th OF ,nllc in
,o,a w. HeEa u" Sere issued,
rb;,h !, a:s,'oN' specie.
- 1e" results Of this snail
49, Il the different period, IL
and if you adopt that pulley
same consequences will follow, and
d. and silver will at nnc. disappear like VA
Ter cast upon thr sands Of the sea shore.
That ordinance * objectionable in another
respect. IL Will not only Danish al the pre-
cious metals from circulation; but it fails to
provide that the banks shall redeem even
these small notes III gold and silver al their
counters. Is this Convention going to uh!h1-
rize the banks OF this Commonwealth 10 is
sue that large amount Of small notes, and n1,
require them t" redeem chest no.csf II ;ilcy
CO., can only SAY that the Convention viii h"
ACTIN without dur regard to ,he interest,"! aid
sr!eiy OF tine pcop'r The backs of ihc Com
~ninnwea!tlI have ira"n chartered no; fo; TIRE
especial benefit %! the r3.ioratnrs, but 10 s!b.
srrv; the convenience: Gf The public; anG re-
gar't the adoption "f this ordinance the t"st
bargain that tie banks Of the Commonwealth
could make with this Convention IN order IL
aInGsS large profits by the usr Of small means.
Why, sir, the banks OF the Commonwealth
have sought 10 inference the Legislature from
time To time to grant this provision. but fail,
ed. This Government, II Was hoped, vas "a.
pidlY becoming a hard money government. |
bat u Seems the banks will never allow il Ia
bccolac such 50 Ion. ~ the public authorities
a'!O" tncln II exercise Their corporate powers
in this way. The people will have less specir.
They will be lar more Inconvenience than
they are now, tnr want Of smsIl change To car.
ry on the transactions Of every day life, while
L currency will he pu: in circulation which has
actual? no rrpr' sentative value. Bat, sir, Gu.
Legislature las required that every merchant
who obtains Il li,:rnSe snail take an oath that
ne will neither receive nor pay ont any nDie Gf
| less denomination than s.. Do you mean
y this ordiGaace To absolve these mcr~
from the perjury which they corn
nit if they receive these notes The gentle
nan from Eichm"nd mir. MAcGARlAxD) this
morning remarked tina, one object Of his Or
finance WAS to suppress the !s>,le II small
by corporations and irresponsible PAL
les.
Sir, ifsuc! cnrooratioas nr individuals issue
ncse notes they mus: know that tho; are
ding Sd in violation Of laS, and they oGcourse
ill take the responsibility of their nets. It's
n indictable %c!f.ns.; and if they are guilty oft,
ley must of Course abide the result. Bur, sir,
these irresponsible individuals and corpora.
ons possess this power now, will il not be
lc multiplying Of g deprecated currency
y the sanction Of this Convention, which will
lace our issues 50 far in cx:ess Of our specie !
nsis IS to derange all our transactions with
Their States, and place US at Il disadvantage in
&c matter of exchanges?
10 pass such an ordinance as this w0aid b.
do what was not contemplated to be done
introducing that measure. Who eTpr heard
u convention legaliz;ng these issues: Why,
we gre dwindling into al insigniicance
Ia: would require g microscope to discern
hen we cen descend SO far as to Inipgle in
e little speculations Of the banking institii-
ons of the State, the commentaries OF the
in regard to our course here may we'll
deemed UNSUITABLE. Our posterity, when ;,
the history Of this Convention, would .
startled when they come tn read in the pro.
Of the 2+th O.! April, in the lar of
r Lord, 1851. that a cu;nuiitic" If this bod,
ported an ordinance TO Il Convention of the
people Of Virginia, authorizing The
ue Of one and two dollar notes By III. Banks
this Commonwealth. Why, sir, ,hn blush c,
shame would red'ien the cheeks of our chill.
en- rs they would read his in the history rf
. ancient Dominion Of Virginia. They
'uhi be struck with constcrnatiDr al !indinu
It Il subject Of this character was befors an
iembly ut the representatives of the sore-
gn will Of Virginia for considrration--an as
n6iy which met here to settle the question
liberty Oh the one hand or slavery on the ,
and on the very day when q committee !
tins body had been in ~c0nclaye with the !
oi the Eonfcdtrate States, and !
5 ready TO make Il report Of the result of L
ir conference with that iiIncriuuary. VIC
lr- HaEvIE-N!i The gentleman allow the No
lmlltee. to which he is just referring, to pue
ie n report , Tn'
IT. FISHER y "il' yield the li)or to the to
Iin!ttee To enable them to make their r.. rF
and will How move tn liy the ordinance y
Consideration upon the tab,r. ~
he motion was agreed tn. ,bs
lr. joins TYLER, Of Charles CiL;.--. ALI in. ind
'ctcd by the committee appni:tcd Dy This u, 70 {
y to confer with the Commissioned tom the CON
deliberate States, to enter into tcr,uS rs 20 y
form Of alliance or union that may he Ell.
d into between Virginia and these Conred-
. States, 10 report to you an agreement -
Oh has been signed and sealed by the par. j
subject 10 your approval or d,sappro. =
here fellows after that an orliraHc., which dou
be submitted Immediately upon tie adop. Con
Of that document. Cha
ne following is the agreement: b.
rention bctreen tie Commonwealth NJ TIr. Thu
ma aid tie Confederate State nf 4ns dtiy,
win
lie Commonwealth of Virginia, lonkinu to We'd
ccdy union 0e said Communicable and Tho i,
slave STATES with the Confederate State. Levi
mprice oocord;p, 70 h., ro Thur
-. 49," P'''"''''' y! MS I'll
fur the provisional government Of wesi
States, enters into the t,lioTiT. lenpnr,r, fr$s
ft A. 81
al meeting pressing tSIrcDri,- .c East
The common rights, interests and safety w
nd Common wealth ard said Cnnf.d.racr. u
Until the union Il said Colnmunw ialth IA
said Confederacy shall be perfected. and
Commonwealth shall become a member of
Con'ederacy according to the Constitution. a.
I'm powers, the whole military furc- anl
airy operations, offensive and defensive ct
in the impending c~onfi,, 20