The enquirer. [volume] (Richmond, Va.) 1804-1815, 1807-01-15
Ibe Gilqutrer.
RICHMOND, 1873 5ASUARr.
To tk< Honorable General -1gsa,5,, of g7.siuia

t-....|.--
The meafure adopted yefterday by the Houfe
OF Delegates, concerning AN additional tax on
the Bank of Virginia 10 fraught with evil of
'uch magnitude, in the opinion of the writer
OF theie remarks, that unlefs it be arrefted in
ITS courie by the maturer reflection of your Ho-
norahe body, will go nigh to fubvert the infti.
tuition. That bank-Rock as we'll as every other
ipecies of tangible propertyis fair obiea of
taxation, the writer is perfectly difpofed to adj
NIT but he confciencioufly believes and will!
endeavor to demonftrate,
LIT. That tho tax impOfed by the charter is
exorbtant.
81. That It'll nyxR to encreafe it.
50. That it is ooviouAy imbolitic.
IT. Mott men will at once admit or reject
the accuracy of minute calculations rather than
examine them, bat il isthe duty, and it 10 be-
lleved, viii be the pseafure of the Reprefenta-
tives of the people to give every fubjea which
comes before them,a patient and difpa,iooatc
Investigations: BY the following calculation,
which Is made upon the mott favorable princi-
pie TO the fate, it will be found that the nett
revenue paid into the trcafury for the charter
OF the Bank Of Virginia amounts to more than
one 6Hadred tboajand dohiarsi That that a.
mount 10 fully efficient, may be afcertained by
inc ioiution OF this hmpe quelion-Does any
other fpecies of property of equal value pay an
squal amount |! Examine your Auditors
Books and fee whether all the lands. houfes.
aaves, &c. of many of your richeft counties
where the value Of the property exceeds in ten.
fold the capital flock of the Bank of Virginia
pay into the treafury one hundred thoafand
dollars IN the conrfc of ten or fifteen wears. The
writer well knows that in one inftance lers than
eighty dollars is annually paid on property,
which AT a moderate eftimation is worth be-
tween 80 and 10000 dollars, and of that very
moderate ium confderabe portion is expend.
ed in the collection.
2. When the back of Virginia was eRsblifh-
ed the enemies of the commonwealth refufed
to become tubfcribcrs, " becaufen faid they
" the overwhelming influence Of the hate
p" would leave Us no power over our o&a
y money, and becanit, although it has retain
" ed Al enormous COZ liberation for granting
Z" the charter, it will hereafter impOfe addiii-
" onai burthens, without regard 10 the exprefs
a" liquidation of the law" Is it come to This.
that the enemie} of the fate are the only true
prophets The friend5 OF the ftate, OH tbs
contrary, viewed the Gate Influence as the firm
eft and mott beautiful pilsc of the whole edi-
ice: they coniidered it, in fact, tate-bank
they were willing to involve their intersfts with
the tntereits iof their country they were not
by the obnoxious term :. union Of
tate and bank:" they believed the power of
the people would not be abufed in the hands OF
their public iervants they did not hetitate to
embark their property in the fame veiicl with
the property Of the Fate, merely becaufe the tate
managed the helm : they urged that the fate
had been open, fair and candid tia. ;he an
OF incorporation was plain and explicit that II
was undtrlood b, S.,nd future cavil, that the
bank was to lend 10 the Rate three hundred
thoutand dollars at the uader rate of four per
cent, to he repaid in ten annual nha.lments,
and that tbe Rate was feni-9nnually 10 receive.
from TEE commencement, the full Dividends on
three thoufand flares. Thefc were the terms
Propo'ed and adopted by the Rate this was
the ccmPcEiltioH for granting the charter
Is 1t then JIM, that the p.ghtsd faith OF
the commonwealth h0uld be violated that
fuch men rs theic fIould era be deceived into the
iupport of an etabliihment and then puniihed
for their confidence Every man conyrrfant in
tdch aitairs knows that an additional tax of one
quarter prrccntum will depfcfs the value OF bank.
lhares at eItt or per cent and for what ia
It inpo'ed q Do the exigencies Of the country
call for great ldcrifice on the part of any par.
tlcular portion OF the community IL any
cenfrre caa ON thofe who cooperate with tbr
alte IN the direction of the affIvs of the bank
Are they accuted OF" favor, affection or PARTIAL
ty 3? No. Contrary to- the courfe of other
banks, they are not bound down by locality,
they give aid direSiy to the honeR and punetua
iohabitant ct the country as much az 20 the en-.
ierprizing AND indIaIiouS inhabitant OF toe
town.
Sd. The b1nk has been in operation nearly
two Years. The tSns6cial efTe9s 81 gradually