Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1810-05-08

were best calculated to promote the nuh
lie good, among which may be ranked The
BANK OF VIRGINIA, Whereby facility AMI
encouragement have been imp srted To the
agricultural, and commercial interests, OF
those sections of the state within the i'm
! mediate scope Of its operation and more
especially to the exclusion of foreign Bank
paper, bat too frequently counterfeit,
and at all times difficult to be negotiated,
or distinguished when genuine.
Your Memorialsts however beg leave
to state to you the grievances under which
| they labor, because of their dispersed and
remote situation from the MorHER BANK
or from any branch of that Bank, and the
inccnveniencies, losses, privations, and risk
LYNcKBuKG, the principal depot and mar
ket for the greater part of the products &
produce of your Memoir aiists' fields and
farms has been, aud IS now subjected to.
The whole country is measurably drain.
ed OF specie, and the utmost INCOMES ience
is experienced in the ordinary neighbour
hood intercourse, not to say one 81 liable of
commercial negotiations, Tor the want of
silver and small changes VIRGINIA BANK
NOTES, and none less than dollars hav.
ing supplsnted our gold and silver circu.
lating medium.
We suffer all the Inconvenience and
risks OF Bank, without participating IN
any of its essential advantages Bank
paper Is not either gold or slver--,t is
tie shadow only, or token, not the sub.
stance, which has acquired and with diff.
Guilty for revolutionary paper money IS
still rememberedj some credit among us.
because of our confidence in the pledged
faith of the state. Your MemorIaiists are
we'll aware of the danger and distrs IS IN.
| cident on the impolit.c, and lndiscreet
multiplication of ESTABLISHMENTS OF tai,
sort; but after entering once on the syst, m
OF Banking, tue CAPITAL STocK and IT'S
apportionments, and subordinate branches
ought to he proportioned and distributed
] in ratio correspondent and commeDsu
atey with the agriculture, Commerce, arts.
and trade OF the commonwealth.
With the prosperity of Lynchbure vour
M-mcrIalists consider their own ultimate
ly Intervene nz=and as it is distant Ise
miles frem Richmond, whence the Baok
Notes or specie requisite tor the purchase
Of an immense produce, now vastlv in
creased and increasing, beyond the inca
sure OF former years, must necessarily be
conveyed at short intervals, and at ex
| IRENE hazard, your Memoriaiists pray
that the Capital Sock OF e Back of V,r.
/ ginia may De so augmented and extended
as to allow Branch of Discount and De.
Posit 70 be established in Lynchburg, ua.
der such restrictions and regulations. ss
may by law, be deemed most Conducive
| 20 the public interest.
Your Memorialists respectfully take
leave to state TO your honorable bodv. a
| part OF the advantages that IN their on,ni.
| on YOU'D result from the establishment of
a H2nk ~ Lynchburg, lnow the centre Sc
HFEmarkcI OF vast tract of thick set =.
tled~ftrule country,J under liberal and
JudiCious management.
| No enormous capitalist would then
have ii in his power TO swallow nm. for
halt It's value, the industry of the labor on
husoanuman=ior the planter or farmer
would then ny ms own Tobacco Notes and
Wheat Receipts oe enabled to meet all de-
niahos, 10 tnsir amount. without sacri-
| fee.
| the competition in tho market wou,d
be increased, aud the merchant and trader
OF acknowledged integrity, and industry
wouiu &c placed measuraDiy, OIL. a footing
Win MS more wealthy n,ersanrile CONNIE
| titor
| 5 Agriculture and manufactures would
| then Dc restored and supporteo==.or the
| iaCiiities AND accommodation OF a Bank
"ouiu ehcfease compettion, and be a
ST mulcus to industry.
| Inc honest industrious Mechanic
wouil mud refuge and support for himse #
and faihily, IN the accom- a odatton which
ah enlightened liberal Bank direction
would afford hin,
5 Vast currency * credit would then be
e'Veh 10 LyncdGUIS Bsnk Paper, frsm the
deposits vi speC.e Gom the West which is
now has been tor many years back packed
Oh horses, To the htian,Ic states.-aDd so
famiiiar'sed would the planters and far.
intrs soCh become TO Bank Notes, that,
when 'hey found, that on applica ion at the
bahk, god and silver might ON sight be
hSd tor them the notes would commonlv
oe preferred.
Numerous other, and very cogent rea
Sons might De urged to prove the necessity
am sHpeai.ncy OF granting your Msmov-
ai:sts' prayer==they however forb.ar lon
ser to take up tue time OF your honora. .
oie BODY, than TO state this one remark
lhas " the commerce oil Lynchburg and
VI the upper country, without tue aid OF
some suCh Cash ESTABLISHMENTS as tn at
The"tioned, Cannot be maintained, unIes -
under the most disadvantageous and dis.
( COuraSIag circumstances.
hha tor which as IN duty bound, SC. sc.
&c.
~ Printers throughout this state who
! arc not immicai TO tho Interests aud pros.
! peTity OF thciT fellow Citizens in the high.
lands and back woods arc ren,as,..S -,