The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-25
What Follows Suspension.

\ L
affecting exclusively single class of men--
dealers in money and stockS-eXcltc> TN
reasonable fears in distant places; and these
fear, il Petersburg led TO = dram upon Tx
deoos;;s i'm her banks that forced nearly al
of them to ,ieid to the pressure, and they
suspended.
But there is no such connection between
the cities Of Petersburg and Richmcnt
as involves Richmond III The sitShtes
degree III TIE failures Of banks i'll Peters
bur-.
Then, ttcre is no real grouad tch0tercr IN
lie suspensions in Nctc York or Ne su$pcn
sioas IN Petersburg for distrusting the bank:
cf Richmond.
If not, is there anything IN the banks
U.,mStirsS to occasion Suspicion Of their sol
yency? CERTAINLY NOT. The Richmond
banks have confined their acts to the le@tl-
mate business Of aiding farmers. merchants,
and manufacturers, and for all their loans
they have the very best security. They are
more than amply able to meet all their lii
biii,c> to dcpoSitors.
Ticn. ,rly disrust Mem2 Why withdraw
deposits from Mcm?
If Tie dcpositors call in their money at
once, 10 bank can stand up against them.
If they force the banks to suspend ,ohat
frhc1rs The winding-up Of the banks,
ard tie locking up of all the capital and all
the deposits in them until the process OF set
Z. iri
plcted.
What riU then be our situation ? There
will be unpaid notes, protests, and failures
inuumcrabc. There will be no capital TO
sustain merchants and manufacturers and
general trade. There will be no money to
support all sorts of enterprises, and to foster
labor. Confidence will be gone, and general
starnation of business and all sorts of pur-
suits will follow. All sorts of property will
decline iii value, rents will fall, many houses
be vacant, and many tenants unable TO pay
their rents.
II we look to the country the consequence
will he that the farmer will get no advances
upcn his crop; he will have no money to
pay hands or buy fertilizers and when his
crop is sent to market there will be dimln-
ishcl competition for the purchase OF 1t,
and OF course it must go for lower prices.
Nor, then, this is CALAMITY! 1t is a
calamity which must reach every man, wo-
man. and child in the community, and take
wears to recover from. The man who has
any business to follow, any house to rent,
any family to support and educate, IN fact,
who has any responsible relations to society,
is f.:ithless to himself and recreant TO the
community in which he lives when he does
a thing that will help TO embarrasS the
banks and bring such fearful consequences
upon himself and his nelghbors.
We beg our felow-citizens to contemplate
tnese facts. Their banks are sound--Why
dis,rust them? Their city is prosperousand
RAPIDLY growing-why blight its prosperity
and check its growth in drawing out OF the
banks deposits that are entirely safe in them,
and which being drawn out of them become
i trouble and Il danger to those who have
them in their houses, which may be robbed
or burned!
To avoid the terrors we describe the whole
community should act as one man III cher
ishiug confidence and protecting their sound
and substantial banking institutions from
anything that may cripple them or place
them in peril.