Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-11-26

~ b'ttnf hstN tftSt NtStOuUfS,
pressed their dealers, and attempted 10
lay ina stock of specie, they had failet: in
tiieir eNertions, aud the Legislature had
been compelled TO meet on the subject.
MAY not The same thing happen again, if
cnoiher day Is fixedi Nav not varie-
t. ofcanses arise To dcley the measure
The iinctuailor OF exchange, the state of
tie s,ecie market, and other circumStan-
ces which cannot lie anticipated, may for
bid a compliance. And il Il particular
day be fixed for the purpose, what is 1t
bntto give notice to the other STATES TO
come To our vaults, and obtain specie for
their own The House mad, indeed, been
told, that the banks deserved no indui
gence; that Their Directors were no bet
ter than tine Conyicts IN the Penitcntlary
for his own part, he could saw, he had the
honor OF knowing some of these Uirec-
tors and, without intending any dispa-
ragement to the gentlemanwho had made
the remark, he would saw. that that gen
tleman would sustain no dishonor By a
comparison with them.-tIe knew that
frauds had been imputed 70 them--hc
knew that it had been said, that they had
borrowed the sum OF $50, 900 i'm specie TO
make good exhibit before this Legisla-
ture but this had turned out TO be ca
luminous and unfounded statement-IIe
reminded the House, that they had the
power by instruction 10 their Treasurer,
TO elect the Directors of one bank, and
the aid of the Council to affect the cleo
ton ofthe other; and yet, not contented
with this power, the House would wish
90 exercise new coptroul over the Di-
rectors. Hebesought the legislature not
again to plunge into the dark-not again
TO ilN ona particular day, which might a
gaain reduce the banks Ia the alternative
OF obeying the law 10 their own ruin, or
of rcqurstnga call of the Legislature -
suspend it.--NIr. r. made some further
remarks, which we have no time to
sketch.
NJ. TaSemeU asked Of the gentleman
of IIenrico (Mr. Cl,an,berlavnc) if Con
gress do not adhere to their resolution
what then ? is he prepared 10 saw. that
the banks shall, on the goth Of Feb. paw
specie at allevents?
MIR. GhnmJeriaync Observed, that if Con-
gress did not adhere, he would sill prefer
the day which they might substitute for
the both OF February was obliged to
the gentleman from Norfolk for his sug-
stion. and would beg leave to amend
what he had offered.
The Chairman said he could not amend
an amendment-but he might Withdraw
the amendment with The leave of the
Communicable. Uombcrlaync then OBJ
tanned leave, and offered The following a
mendment:
" Until the Goth of February 1917, if Con
gress shall adhere TO its resolve on the subject
of dues to the United States-but if il shall
extend the time on that subject, then to the
period soextended."
MIR. Merce, rose and delivered his ideas
at very considerable length to the Com
mittee-The short time which is allowed
us for making this sketch, and the variety
of arithmetical statements with which his
speech abounded, prevent our doing any
sort of Justice 10 it.-Iie observed that
this amendment did not present the sub
ject precisely as lie wished it-and if it
should fall he would then bring forward
bill, containing a preamble and two
sections fichich he then read differing as
he observed, not essentiallv-ratherin
form, than in substance. from theamend-
ment (the time fixed on being the 10th Feb.
or any. otnerday TO which Congress MIGHT
| extend it. )-ie reminded the House. that
for this period, he found an authority in
the Governors Message at the opening
OF this session, stating that " If Congress
adhcres 70 the Goth of February, / hope
the State authorities will be compelled to
pay on that day"
Mr. Nj. said, no new facts had occurred
since the 18th of November, the date of
the message-aDd it was therefore presu-
mable, as the Governor had convened
the Legislature at the request ofthe banks,
with whom he had previously consulted
mat these banks are prepared to paw on
| The 10Th Feb. or 10 travel pa,i passu with
Congress- But what had the last Legis-
iafure done? They too had fixed on a
particular day--after having in vain OK
pected, first from New-Yo rk, on account
OF her commercialimportance, and next
from Congress, that they would set the
example-He stated that Congress had
indeed at last selected particular day
but had delayed making this selection
until the very last day of their session.
Mr.. M. contended, that if they should ex-
tend this day beyond the Goth of Feb. our
commerce wonld desert our shores-that
our merchants would enter their goods. 4
Dond them at the ports where the circu-
rating medium was under the creates,
depreciation-that the merchants Of Ros-
ton and Salem, would also send Mei,
vessels to Alexandria and Baltimore. as
the circulating medium of those places
were 10 or 10 per cent below par. where
as 1t would only cost one per cent to
change the destination of the sIip-aud
one per cent TO send her back to thei,
own portS-and the same thing would
prevail III the ports ofVirginia-t!iat Con.
gress had thus been bound TO Iegislate on
the sutherland that i,,sf;co and a.