Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1807-03-13

Servat onS.
The city of Richmond and town of Mann
chester, hold commerce al position, which
can never be rlyalled. \ othirg less than
convulson OF nature, forcing other COM
munlcations can DESTROY the existing adj!
vantages. Upon the existing advantages
the most sanguine mind is unable to form,
adequate calculations But these anticiDa~
TONS are greatly retarded and obstructed
6y the short sighted and contracted policy
| winch ha: been already explained. The
destlnies OF these towns appear to have
been committed to the agency of men, who
cannot, or will not, see beyond their noses,
or who try all questions by the immedIate>
effect likely to be produced upon their in
| terests, prejudices or passions.
Hence it happens that the canal, instead
I OF extending its bcnchcent and benevolent
arms, to the eastern and western extremes
OF our continent ; instead of opening the
best communication between the Atlantic,
and Pacific oceans, is brought to a sudden
and unrlghteouS termination. When the
present race of inhabitants have disap--
peared, and shall be succeeded by others,
1T will be impossible to persuade future pei
nerations that these things were the deli
bcrate doings Of men who held high and RESI-
pectabc stations in the opinions of their
contemporaries As respects this subject, for
the present will pause, and ask the atten-s
ton OF the reader, to another, which also
has, or ought 10 have a considerable inau.
ence upon the commerce ofthis city as we'll
as its dependencies.
The Bank of Virginia to which here
aiiude, has now been in operation more
than two years, it was introduced and esta-,
bhshed IN opposition to a violent general
prejudice and against the wishes Of the
mercantile influence of this city-Sirce l.
has been in operation the attention of the
public has been again excited by many
complaints. Whether these have been we2
or i'll founded, VIII not be the subject of re-
mark : My inquiries have been directed to-
other objects lhave examined and weigh
ed the general commercial advantages
which belong to this place-the amount Of
mportatlons, expectations, manufacturers
architecture, aGri culture and incidental
deaiings-and from these data have con-
Guided, that it is Impossible for the direc4
tors OF the Bank, acting upon limited cir
cuiation, upon contemplate capital Of a..
bout four hundred thousand dollars to give
general satisfaction. 1t would be casv to
demonstrate that all Of this capital, is in
adequate TO tho rcasona bic demands for tho
Tobacco trade alone Believing this to tie
true, am disposed to acquit the directors
OF many of the censures which have been
promulgated-They cannot perform MIRA
cles they cannot multiply this pitiful fund
70 meet all the reasonable demands which
have been or may be made IEeY ccnz
feed a mUktItude 1lhen. EUe LoaUeS and tzvo
small fshea, and atiH haze Fragments.
A remedy is necessary. There may Ia
many in theory; but shall confnc myself
90 three. First, to increase he capital OF
the present establishment second, TO es-
tablish another or other in. titutons--third,
OH 81. 81,
sent it operates oppressiveY, because from
the facts winch have been stated, the
directors are obliged to appear partial
True policy and commercial justice, re-
fuire an equality of privilegcs-but how
can they be obtained when the means of afy
fording them do not exist IF the banking
capital should be increased, then the pri-
yleges might be equalized. IF the bank
should be abolished, then all men would he
reduced to an equality of chances and priS
viIeges by destroying the means of prefer
ence.
But the existing Institution canno; he a.
bolished-and the present company do rot
appear to desire an increase Of capital i
there remains then but one choice, viz. the
establishment Of other institutions
I will now dismiss the Bank Of Virginia,
and ask the attention of the reader to
s''hNNii'Ha NilNN - ltlhIG tGGOlc. 5OUlC@
thing where there does not appear TO LG
room either for satire or ccnsure. I aitnde
to the A9anYactory Of trina.
OF all the public institutions, whiN, exA
ist in Virginia, there is bur one whereof the
eye of the patriot and philosopher can
dwell with pleasure where it can look
with satisfaction, turn away, and look gain
with renovated delight. JHis is m manus
factory q trina. The plan has been con-
ccived with greatness, and has been exc
cuted with talents, taste and a general re-
gard to public usefulness.
The reflections which unvoluntarily az
rise, rs relates to this establishment, arc
so different, so widely different from those
which have occurred upon ether objects,
that I will not here disturb the pleasurable
sensations which this subject cannot fail to
excite and to me il is cause Of deep re-
greet, that cannot, in justice 70 my.own con-
science, present results, or even toierato
hopes, as relates o. others which are equals
" acceptable and delightful.
a FREEHOLDER.
p. s. Tt must not NC understood, that any
Of my remarks are /. tended to bear upon
the internal management, or details Of eli
Their Of these public institutions. / know no
more Of either, than is open to every be-
81 frf tlp to To-