Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-12-21
VIRGINIA l. EGISLAIcKE.


Cnunty of Montgomery read 81
fine and passefi-iycs -, Noes %.
THE House then took up the Report of
the Committee OF the Whole on New
Earks.
Mr.. Hing, moved TO postpone the iteso-
lutions till The 3lst of March consl-
,lered the whole systeul as one ca!cula-
ted to separate the people from the gov
eminent and the government fgom the
neople. -lIe wished his name recorded,
indelibk recorded against system
fraught with such injurious consequent
ces and he should call for the Ayes and
Noes.
Mr.. B.nlks declared, tho he should vote
.ainst the indefinite postponcmeht OF
The resolutions, gentlemen must not con-
slider him pledged TO vote Tor the bal
itself as that would depend upon the
number of banks which were proposed to
he Incorporated, and the places where
., ~ were 10 be located. IL this were
question of the first imprcssioR, he would
yote against the establishment of any
hank but as banks were now establish
cd tlle benefits of the system were con
fined to one section of the Staie-Ihe
question then is now one of sheer justice
Ilfthen gentlemen would content them
selves with small augmentation 10 the
nr.sent banks, with such restrictions as
would make them to be specie paying
hanks. he should vote for them Other
wise he should vote against the bill.
Mr.. Dodd,1dge hoped, that gentlemen
would suspend their opinions, until these
resolutions were gone through, and
scheme was reported of the number of
banks which were proposed to be estab
lished. He said he would not so into Il
nv remarks on the general benefits OF
banking, which had already been deve-
doped with so much ability, but he would
merely animadyert on doctrine which
had been maintained that banks were
fatal to the liberties of the people; and
lcontrbutedto increase the inequality be
tween the rich and the poor. He called
I mon gentlemen to name tie country in
\ which they had produced these effects
In what country were the distinctions be-
tween the rich and poor most remarkable?
I'm China. where no banks existed. In
what country did the classes OF society
approach nearest to each other! In re-
publican PENNSYLVANIA, Ohio and Mary
land. where these institutions fiouriShed
an the greatest degree. So far are these
consequences from being produced, that
If the speech of gentleman pronounced
Yesterday. had been delivered in village
ofPennsylvania, il would have been Ia
ken for the speech OF a visionary theorist.
Mr.. ID. contended, that so far from des
froving the liberties of people, they ra-
Their contributed to improve them. Has
England lost her liberties, for instance
IS she less free, than when AN English
Queen sent down her mandate 10 Parlia
ment to arrest their deliberations! Where
are freezer assemblies at this moment, than
indeed almost licentious one? Surely
these facts do not demonstrate that
banks are calculated to deterlorate the
political institutions OF country.-lf
great distinctions Of property prevail in
England, it was owing 10 her antiquity, 10
her civil institutions, to the right of nhe-
ritnig and transmitting property. Would
gentlemen also abolish this right
Mr.. ID. combatted the objection Of
some gentlemen to banks, because they
sometimes reject discounts on good pa
per.-Iu this city he had no doubt OF the
fact-and what was the cause of 1T lie
cause its banking capital was not great
enough to answer all lis demands. Di-
rectors, where they are unable to accom-
modate all persons, will select the best
pa er, and sometimes the paper of their
particular friends: Mr.. d. contendej,
that this argument only Went TO show the
prepriety Of increasing the capital; SO
that if a man cannot obtain accommo Ia
ton at one bank, he may apply 10 ano-
ther and thus the only way TO lessen
the evil, is to augIn mt the number and
increase the competltlon.-lie also con-
tended that this was the only way 80 low
er those great dividends, which had been
so much the subject of complaint /; for,
as the capital was increased, the profits
and with them the dividends are reduced.
My word upon it (saId Mr.. D. If you
increase the capital sufficiently to answer
all demands, you would no longer hear
those odious epithets thrown out against
the Directors, which have been lavished
upon them this wnter!-Mr ID. said, that
the same complaints, as existed IN this
State, had prevailed i'll Pennsylvania the
same complaints of the interior against
the partiality shown to the towns; untilas
manv banks had been established as were
sufficient and then all complaints ceas-
ed, and banking itself had ceased to be-
come a subject of legislation IN Pennsyl-
ania.-Mr. ID. pointed 10 Ohloa and Penn
syl,ania as proofs, that banklng.did con-
tribute TO give new spring to industry,
that the people were there contcnted, and
towns were springing up, while we were
languishng for want of caplial--he SAID,
that it CALLED the Westcrnman to see
in a neighboring state the remOtcst paris
fits territory as much encouraged as Its
commercial towns. vale those OF rgln-
Ia were plning away-Nhere We see these
things before our own eyes, you cannot