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


travasant, and disSiHatei his money -.
MIR. III. admitted, that the experience q
the late war was calculated 10 proiUc'
some alarm, by the uerangemsn, which 7
had Introduced into the circulating ,n I
dun, Uc.-Dut lie contcaded, list. TIA
there was very lI;tie danger OF war iol
some timc To cone: that Spain, so ili
from interrupting oar commerce, could
not guard her own that France hpd e.
nocgh 10 do AT home, and was unable Ia
drive her assailants from her own bosom ;
and that Great Britain would be with
held from hostility by her debt and the
state OF her finances that we may. there
fore, look To long peace; and 2dly. that
by the time war might come, we should
be prepared against recurrence of the e.
Wis which we had witnessed during the
late war, by our present banks providing
themselves witlia stock of specie, and the
new ones being restricted to the payment
OF specie.
Mr.. IL. acknowledged, that when elect
ed 10 that House, he was hostile 10 the
propositions for new banks made last
Winter while he was incensed by the
strong language which had been used by
the Western People at the rejection of
these propositions; he still thought that
language improper; but, when he came
TO recollect, how that spirit was excited
that these people did not stand upon C.
quail ground, he could not forbear SYM
paihsins with thenl-he did wish TO see
them united to the people of the Lower
Country as members of one common
family.
EIr. ChnmJerlayue enquired of his col
league, if he believed the present banks
existed in violation of the constitution &;
billofrights!
NIr. Hay replied, that he did not chuse
to be Intercepted by any man-though
lie thought he had answered that question
alEeady.
/Mr. THICKER said, he should not 90 into
the general question about banking but,
should confine himself TO very few
points.-lie contcndcd, that all the peti-
TONERS asked, was To use their own mo-
ney in their own way, to ENJOY equal adj
vantages with some other sections of the
State-that, ifindced he could think with
some gentlemen, that these institutions
intringed upon any rights guaranteed by
the Constitution, he should be Tie last
man To vote for tliem-tbat Il bank was
only an Institution TO lend money, which
every man " ouid have Il right To lend with
out it-that one of our laws had indeed
narrowed this natural right, he meant the
law prohibiting the circulation OF private
bank-notes-a law unknown to England,
and therefore as many bankers might eX-
list there as pleased: because, they need
ed no charter, the only restriction upon
them being, that no banking-firm should
consist OF more than five partners, with
out which limitation, other institutions
would soon rise up 10 rival the Bank of
EnIland-that our OWN laws, therefore,
only narrowed the natural rights of indl-
viduais, and all that Il bank charter did,
was to re-establish this natural right
that gentlemen had commended, that such
institutions endangered the liberties of
counlry-Mr t. asked, in what way ? If
it should be said, through the Stocknold-
ers, it should be recollected, that nine
tenths (at LEAST of these Stockholders
were residents of the country, many of
them had been represented as widows
and orphans-and as to the Directors,
they were either appointed by the Stock
holders, or by officers responsible 10 the
members of this Hoase, and who were
the members this House hien, whose
political existence hung upon the breath
of the pcoplc-He asked, how the liber-
ties of the people could be attacked by
these Institutions Where was the con-
cert among them? And, if there were a
ny danger of that, was 1t not better to
alternate, i'll order TO weaken 1t! Was it
not better to pursue the old maxim, Di-
eide ct impera Break these mountains in
TO dust, and they will prove harmless
Have one hundred banks, instead OF one,
and you strip them of their ierrorr1
Mr. T,LtckL,,,-,, rose N address fhe IIc,,eo
We can barely glance at a few of the re-
marks which he expressed. He SAID, he
had hoped, tldtthe resolutiOns would have
might have had all opportunity of prepar-
Ing himself for the discussion but, Tie
bare possibility that the motion for an in
definite postponement may prevail, indu-
ced hint aid in the attempt. Ifthey could
would joyiuily hold up his hands, and fe-
licltate his country upon the reSult--nay,
if bis hands were Topped off, he would
hold up the bleeding stumps.-fIIe rcpeI-
led the idea, that new banks otFght 10 be
established, because others already exist
ed-FOr, the system was wrong at first,
and lie would not do evil that good might
come Oft. He commended, the true course
was, to reform, and 10 retrace their steps.
There we're two banks already-Could
the House manage these! You see we
cannot. For 30 days, we have been abo-
ring al 1t without success--iie cCntcnded
that banking institutions were gaining an
alarming iniiuemcc-Cutof one Read and
hundred will spring from it-that the
banks were gaining ilcrculeau strength
they were growing every day--one zen
flau,af, haf .rtyioH a, ,,ttIft,.f,s tl,,..