The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-06-28

can go into bank. get as much money as
ne wishes to purchase cargo with, send
it on to Virginia and make the purchase,
and after the vessel is loaded, draw ON
the owner for the amount of the cargo and
his commission. Comparatively speaking,
all mercantile profit is drawn from US !; our
produce is exported. and our imports i'm
ported by the merchants Of other states, who
derive all the profits Of our commerce,
which, in a different state of things. would
remain with us, and constantly increase the
wealth and resources of the state. have
been induced to enter into this train of rea-
soning and statement of facts, in order.
more clearly, to illustrate this POSITION. to
witt that in order to prevenr a banking in
Situation, or its directors from having po-
hticai or other improper influence, it was
not necessary to destroy an institution which
was in itself useful. but to correct its abu-
ses by extending the banking principle till
all good paper could be- accommodated d.
j have stated that in Pennsylvania, until
the present alarm which this discussion has
produced. any person deserving credit,
could obtain it to any extent he wished
The banks in such situation compete for
customers, and in such state OF things their
political influence is gone. In Virginia. OF
1.-The contrary, III consequence of the limited
capital OF the bank being very inadequate
TO the demands OF society, it is a matter of
special favor to get into the bank A bank
ing capital, to this limited extent is an in
jury 70 the community, for in such a state
the bank not being able to accommodate
all, must select its favorites, which gives
to them particular advantages which others
do not possess, and enables them to apply
TO usurious purposes the money they get
out OF the bank. by lending it to others, who.
ii there was a sufficiency of banking CAPT
tai, would themselves go into the bank and
De accommodated with that very money for
which they now pay an usurious interest.
Slch bank is an evil, and in such state
OF society, where there exists such a diff .
Gully of loaning money, man worth TWEEN.
ty thousand dollars may have his fortune
Sacrificed to pay five thousand. This state
ment will clearly illustrate the object have
IN view. which IS to show that by extending
the banking system to the proper extent, it
you once commence 1T, you destroy its po-
Atical influence and proven, it from being
an instrument of either public or private
oppression.--Such is the situation of tin e
bank OF the United States at present.
Whatever may be the disposition of their
directors, they are, incompetent for all the
purposes of influence.
Mr.. Giles said it was with regret he in
terrupted his friend; but he seemed to SUP
pose the banking capital at Richmond was
a. =
ciety of shavers. This was not correct
ffe (Mr G haG conversation with the
President OF the bank, from whom he un
derstoed. that the bank could do more pa .
per than was offered to it'll Mr.. Brent
SAID he had heard no positive information
as 10 the fact he stated: but it was we'll
khown that men, as good a. any in the u.
States. had not been able to get their paper
accom- modated. He knew the President of
the bank. for whom he had sincere vene-
ration and affection; no blame attached to
the bank. He said that the establishment
OF bank any where. however pure. provi
ded 1t was not adequate to the wants of
society, would produce shaving
Mr.. b. said he had many other remarks
which he wished to submit, but the hour
was so TAR advanced. he would not trespass
turther on the attention of the Senate at
present If a tit opportunity should hereaf-
ter occur. he might again take the liberty
OF making few observations on this sub
Ject !; but he would avail himself of this oc-
casion to say, that he did not mean TO make
any reflection on the directors of the bank
ut Virginia; they were not in the smallest
degree censurable. He believed the affairs
of the bank were ably and konorably con.
Quoted by them.
1t may be proper to state, that Mr.. Brent
male second Speech on the subject of he
Bank OF the United States %. The rest
mas not yet appeared in the National In -.
.teUigencer.l