Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-06-01

.,out getting Virginia paper to pay taxes,
I'd for every other purpose, until the un-
'hartered Banks suddenly started up, and
commenced gathering and locking up the
,,:rg;pia paper, which alarmed the direct
W. Of the Farmers Bank, who not only
o.ased to issue any more Of their own pa
.r but called it in and locked up too
!, that between the chartered aud un-
.hartered Banks. it is no wonder the peo-
Me cannot get Virginia paper to pay their
axes ,y
nd upwards Of 100000 of Virginia pa
ner which they uniformly refused to part
rsv;,h. cven to redeem their oava notes =
T'hat they were holding them fast until the
chartered Banks should commence specie
Clements. Altho' am decidedly IN favor
IF compelling the Banks to pay specie, l
think it was bad policy in the Legislature
n let these uuchartersd Banks remain,
with their funds entire, until the very day
when the Banks are COMPELLED to pay spe-
c;s: this will be seen and felt. The tact
e that the intention of the Legislature IN
Giving distant day, for these iazviess CON-
1anies to dissolve, was intended to relieve
fhe borrowers, and not the Bankers. Bot
they consider it as Intended Indirectly, TO
sanction them until the 18th Nov. and TO
give them an opportunity of making ano-
ther application to the Legislature, sup
norted bv the prescntments of grand juries.
and the complaints Of the people, Of dis.
tress rel or imaginary, actually caused
by the Banks themselves.
1t was certainly expected by the Leg's-
lature, that the unchartered Banks would
proceed forthwith to close their BUSINESS,
by redeeming their notes with their funds
of Virginia and other good paper and APP
NV their debts to refund the stockholders (;
and if they would do this, and circulate the
Virginia paper they have locked up, all
difficulties and complaints would be at an
end.-They have twice the amount of Vir-
ginia notes necessary to pay all the taxes of
that country, which viii not exceed $50 600
after deducting claims, SSc.--But it seems
they will not do this-the complaints & dis
tress of the pesple, with the prescntments
of grand juries, are exported 10 intimidate
the Legislature, and compel them to grant
charters.-F
There was something curious in the
great Bank ill,rejected b. the last Leg;sla-
ture-It dissolved all the unchartersd
Banks, erceht the one at Winchester =
should like to know, what particular me-
rit that Bank had TO this exclusive pTivi-
ledge and favoure What can that coun-
try town want with two Banks
In short, Mr.. Richie, what can that a
gricul;ural country want with more Sank
capital? / mentioned before, that the ex-
perience of several years proved, that the
Farmers Bank at Winchester. was sufi-
Gent to supply the wants of prudent mes
in all that section of country-TAat Bank
can and ought to supply all that country
with its notes to pay taxes. &c. &c. and nj
doubt will do so, as 1t formerly did, SO soor
as the present Raxk mania subsidies.
think the directors of that Bank excusable
for their caution. heretofore, surrounded a:
they were by so many rival Banks, anc
especially as they must pay specie on the
18Th of November. II ought not to be ex
pectcd that they should ruin their Bank tc
accommodate individuals. y again repeat
let the unchartered Banks circulate their
Virginia paper to pay the taxes OF theil
country--it will have much more effec
with the next Legislature, than all theil
threats or grand jury presentments.
EPAMINoNDEs.