The enquirer. [volume] (Richmond, Va.) 1804-1815, 1805-05-10
Hc C59 Gtt1Yzt

think OF this after anv,icr bank is e(labIhe,is I'm,
why are all theie points to be examined or brought
into view! SIT not enough to Fry, that the exiting
law does not contain i-,ie Se,itence, which either
authorizes, Or aludes to the increaie of the capital
1t will therefore be time enough further to expoie thu
erroneous opinion after ioe authority fhal be tbewn
by which the Legislature can increaie the CAPITAL OF
the bank.
But for the fake of argument, let it be fuppoied
that the Legislature, in all the extravaganza of folly and
tyranny, thoud pats act ncreae the capital of
the bank without the content of the ockholders bv
what means, it is aiked, would they direct the new
Rock to be Incorporated Would the old itockhold-
ers with ieia! hands become their own
Would the directors who are bou:.d to execute one
law, undertake the execution OF another which impair
ed, oppoied, contravencd it Would the leu,ila-
ture appoint ipecal agents with authority to 90 lor-
ward with the law in one hand, and the terrors
illegal vengeance in the other and enforce obedience
Would they command the officers of the bank to o.
pen their vaults, to unlock their ;reauies to unfold
their records, and compel them with paracdal haeds
to enroll the new edict
The friend of his country, and the advocate for the
advancement of pubic improv ement and human hap
pnes, will turn from this picture with niny led por-
lions OF attouihment and horror; lac Will not even
permit hiief to fear that iuch tae of things is in
the womb of futurity, anticipate that a Iolitary
legiiator can be found, who will either recommend or
tolerate iuch fragrant inroads upon private right, or
iueh dangerous innovations on public trullS
Upon this point, it mutt therefore be- concluded,
that there be alteration in the charter of the
Preient bank, without the content of the ilockhold-
ers; and as is not likely, that they will content to
any alterations which do offer rony allurenents
Tome other mode mult be fought latisiy the pubic
exgency To the writer of this none appears 10 eiTec-
tual, and 1t the fame tine 10 juf, as the etabiilh-
nIent OF a new and independent bank. The charter
may be granted upon iuch terms as the legislature
think proper to preicrbe. twhichappears mott eli
gible, is require annual premium or confederate
on to be regulated by the amount of the capital. BY
this means the profits of the fubcrbers ON the price
of ftosk icrip will be curtaed in all other ref
poets, there will be ne caufe for objection lit will
be time enough to examine and explain the proper
data upon this part of the fube, after it ihal be
known that the public exegency will be met by
Legislative juiier.
The writer of the dialogue having admitted that
more banking capital was necefary, has yielded the
mott important point Nothing has yet appeared, e.
ven if that the cafe to thew that an ndepend
ent bank ought not to be eablihed, and nothing can
be ihewn that the banking capital ought to be increa
ed by adding flares to that which now er;{}.
The writer of the dialogue mutt therefore either re-
tract the point which he has conceded or abandon
the plan which he hasreeommended. But let us ex-
anime what he iays upon this part of the iubjeS9
Wouh you, fiyf TIE soyif.r of tie Giasqu<, rattle,
iufrege tie capital Of tie praat IIai, Q, eGabh@
NEG bank 10 z0bieb be A.syrs, c1szu," On f5is
qH5fio" am not Prepared to exerei eoneiufv. obi
MAN. 9oW NE, ely sOatsnt n:yf BY oktrpnr i6at lie
rxpene< Of conducting 'zvS banis is eviently gy4f.,
than that Of conducting one. According to rht prin-
cipe it might be iad that the expence Of fpportng
one leglator, one judge, ruler, Sc becauie II
would be cheaper ought be preferred 10 the dviii
on and fubdivion of powers which ar necellary TO
iupport representative government. On the other
hand the proper enquiries for the politician and legl-
lator lhould be to atcertain by THAT means the Ef-
TEN OF banking may be productive of mot good, and
leait evil, and not by what means the flares Will be
mott profitable 10 the foekholders.
II as it is admitted, riorc banking capital is necea-
ry; if men OF opulrnce are willing to incorporate
their reiouroes and credit, for the purpoie of eab
ing bank; if t!,ey alto willing to pay a
large fun of money annually for the privilege, how
refufli by the Legislature be defended! Even
if there vas not moral obligation to render canal
and impartial juiice all the citizens of this COM
nionv cath, yet they would be bound BY the ,b;I &
fourth articles Of the bill of rights, which declare
among other things, that governneu it, or ougLt 10
St igfufN for tie common bensft, protection and euri-
~ Of The ta5le nation eo17m.uaiiy'' that no man
OF let OF men are entitled to executive or feperae e.
monuments from the community, but in confederation
of public lervices."
The advocates and petitioners for new bank.
without the aid OF another argument NAV fafeIv and
proudly and under the banners of this chartered nr;-
Vilege when thus arrayed the writer of this will
not allow himieif TO fear or fulpet that proper an
Piic2tion will be unluecelsful
CONNIE
The writer Of He Dialogue has d" admitted
Gays the an5ho. of the Remarks, in his 1T, 18th
and 10th ParagraphS) that more banking capi.
tai was neceilary." From this 4,ague eSnrefI;.
on who would not fuppofe, that more banking
capital was admitted to be necefary at tbe bre.
5enf time The writer of the Dialogue has how.
ever countenanced no fuch opinion. He has.
on TIE contrary, devoted three fow,tbt of his
dialogue to proving, that the preient was NOT
the Pr0per time for incrcaing the capital Of the
bank OF Virginia.-Stil this was the moR i'm
Portant, becauic it was the brevion, oueO,on g.
TOR OF what great ufe would it have been TO y
writer who advocated the ufe of an immediate
augmentation of the capital, to have enouircd
INTO the 6cf plan of effectirg it, until he had ef.
tabl'hed the ncceiGty of augmenting it at the
PrSIent time Is it not then fair to conclude, "a
the author OF the Remark5, or in other words.
an advocate for the Memorial for cRab,i0binr :,
neEv bank, has not once comhatted the &. rsafSr,
ings, that he has found it difficult or imnoIl;h,,
to reiute them And is it not therefore fair 70
conclude, that he bimjcLfhas F." admitted that
thol more banking capital il necelIary" If the
Preient time; aud that it would be impoIitic 70
r.N.