Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-12-07

themselves by drawing these interenceS
from certain facts--interences, which he
utterly denied The banks ambitious
The banks struggling for dominion r
Trace the history OF their progress,
and see where is the evidence OF these
charges. In 1904, the Bank OF Virginia
was first established. But from 1904 To
1914, where was this spirit OF ambition Z!
This domineering spirit, imputed to the
banks? In the hour of prosperity, this
spirit slept but, it seems, the moment
they were obliged to suspend specie pay
ment-the moment they became depen-
dent on the justice, the cIemency, the
good temper of this House, they suddenly
became dominecring, ydisposcd to contest
with YOU for power! In 1914, what did
they do? They undertook to suspend
their specie payments-andf for what rea-
son! Because specie payments had been
suspended by otherinstitutions, and they
found that they could not stand alone
Did the Legislature condemn this reso-
luton No-as the gentleman from
Spottsylvania (Mr. StanardD had correctly
remarked, it was unanimously approved
by the House.--They could not stand a.
lone; they were unable TO pay, when o.
Their banks had suspended payment; and
yet is this House now called upon to COM
pei them TO pay when other institutions
are still i'm the same situation, and when
the Journals of this House contain your
vote appreciation.
Passing then from 1914 To the era of
this vote, vote which bars all intermedi-
ate attacks, what is the next scene that
rises upon us? I'm February 1915, peace
took place. The banks we'll knew, that
it was their own. as well as the public in
terest, TO resume their payments; but
such had been tlie pressure of the war,
such the endorsements introduced ilto
our commerce, that they could not open
closed. The Legislature, however, grew
impatient, and passed law in February
last, which was wise and polite in every
respect but this; that without any regard
10 the general situation of thi. country, it
undertook TO fix day for the resumption
ot specie payments. The banks, aware
that 1t was impossible for them to stand
alone, made an application 10 the Execu-
tlve-but inthis feeling, they were not q
lone-the truth was, that many others had
expressed it-and Mr.. III. declared, that
he himself had also taken the liberty of
addressing letter to the Executive on
the same subject, prior to the application
OF the banks.-As the 18th of November
approached, the banks found the necessi-
~ ofappealing to the Executive, and the
Executive called us here; and vet it is
now said, this is question which the
banks had determined to decide for them
selvesl
One word more upon this point-The
banks had not only been charged with
ambition and spirit of domination, but
some very strange images andvery coarse
epithets had been presented to YOU The
most sacred writings, the most obscene
pages of the Heather Mythology, and the
cells of the Penitentiary itself, had been
ransacked-and whence do all these wa
ters of bitterness flow ?-When the I'M
chartered banks, who were instituted, not
only without law, but against the law, had
laid petitions before this House for some
relaxation of its rigour, they were re-
ceived and heard with the utmost courte-
sy and condescension. The House had
listened to the pathetic representations of
the gentleman from Loudoun, of the dis
tress which would necessarily be expert
enced by his part of the country. There
was no enquiry made, no reproach
breatled. The only question was, how
much time do you want, gentlemen, to
wind up these institutions? The gentle
man from Loudoun had named the 18th
of May-the gentleman from Brooke
preferred the 3lst August. The House
yielded to the longest time. These banks
had asked indulgence twice; and it had
been most literally granted them. But
when your chartered banks. those banks
IN which the Commonwealth herself was
SO deeply concerned, were brought be-
fore this House by your Executive Magis-
trate, they are received as if they had
been guilty of some enormous crlme.-
And trust me, Horatio, there is some
thing in this neither your philosophy nor
mine ever dreamt Of"
But quitting all these changes, and ia
king 1t for granted that the Banks had
been well administered, (ofwhich the do
cuments on the table furnished sufficient
eyldence,) let us proceed to investigate
this subject, according to its real merits.
The gentlemen from Norfolk and Spott-
sylvania had descanted on its Importance;
but without dwelling upon this point, il
must be admitted TO be a very difficult
one. Two years have elapsed since the
peace, and yet the Legislatures of New
York, Pennsylvania aud Maryland had
not said one word about compulsory mea-
sures. 1t is said, indeed, that North Ca
rollna has lately begun TO consider it but
we, III Virginia, must always he the first
III any measure, the first in war, the first
in peace, the first in action.-He liked
this spirit-itwas spirit wlIichimpelIed to
high achievements, but il sometimes led
to the deadly imminent breach" 1t
ought to be watched, and il was the part
of old men, like himself, to admonish il.
Newly Ork, which contributes so much To