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

| Nh Ckgn5cfl1yite rose 10 reply to some
remarks OF Mr.. Doi,lridge upon hi:
spee..h-twhich We have noi noticed in
/ ths has,y Saetcin-he SAID il was scarce
! ~ necessary for him to pursue the subject
alter the able speech Of the gentleman
| from Dinwiddie (aIr. king)-a spsec.
which the friends of the country and the
Constitution had heard with dclis,.t-Alr.
e. again deprecated in the most ciaDIa-
nc terms the influence of the banhs-lie
commended that eyca here in this city, the
elective franchise had been subjected 10
the asccndancy of the existing banks, he
could name persons who had refused To
vote, lest they should dispIease the banks
he observed, that some gentlemen had
stood forward as their advocates, because
they felt their intluence-Ntr. c. said, ii
any thing could contribute to reconcile
HIM 10 the idea of "a Bank, it was the pro-
position to promote the Literary Fund
bat even that would not induce him to do
IT, as he had been told by very good au-
tEorsty that men were not to DO evil that
good might come OF 1t.
MIR. Hay observed, he did not know
whether ine gentleman last up had made
any aliiislon 10 him, when he stated that
some gentlemen had advocated the banks
F'SONAoC lICl were kiltii illiutHCt
for his own part he was no bank director,
he was no stakeholder, he had no interest
IN these insitutionS-he was a landhold-
er--nor should he regard any such allu-
sions, if they were intended for him, for
ii his character for Independence stood ON
50 slippery d ground, that such insinua-
tons could affect it, lie would not turn on
his heel To save his popularity. II.
Contende :, that II was not now necessary
to enquire whether Banks should be es-
Observation-Disclosures they mere established
why then waste any time In discussing
thepolicy ofestablisliing such institutions.
nor was it material to discuss their CON
fOrmity with tie bill of rights, because
that point was also settlcd-and with
proprirty ; for the charter gave no "ex-
elusive privilege" no monopoly; for
when the Farmers Bank ofVirgina was "a
bont to be esta Dlished, il had never been
contended By any theorist, that the Bank
OF Virginia was possessed of any monopo-
ly. MIR. IL. confessed, however, he could
not reconcile the argument of gentlemen
with the course which they took while
they denounced all monopoly, they would
III fact gran! one TO the existing banks by
refusing similar accommodations to the
Western people III. also contended
tlidl Ill W DIS HOW unnecessary 10 cilIu|Tc
whether state bank was compatible with
the Constitution of the o. S. {: because the
voice oil seventeen States, and of our own
with the rest, had decided in the very
charters, which they had granted, that
there was no restriction upon their power
TO grant thcm-lhat this question was for
the present gone by, though a time would
arrive when 1t should again be heard, and
that his object was to limit the charters
ofthe new banks to the period when the old
ones would expire, that the question
might then be deliberately discussed
but that now, when our friends and bre-
thren from different parts of the State
came and SAID, Eve too wish some banks !;
we too wish TO employ our own capital in
our own way" it was too late for us TO urge
these objections; as they might very pro-
perly retort &" Strange! you should think
of these objections now, when you never
thought OF them at the time when your
own banks were about To be brought into
existcnce"-that;be Western people would
only lie offended, aud ;liey would have
thel right TO be offended by this mockery
Mr.. III. commended t!:en, that such arSu-
meDts Were irreleN anttO The question, wle-
ther the number of banks should be aug
mented 2-lhat gentlemen had also urged
other objections which were improper,
because they we're premaiure-ttat they
had assumed, for instance, that there
were IL new banks 10 bc established but
how was it possible TO know this, until
the blanks came TO be filed up? But if
any gentleman was of opinion, that there
ought 10 be but two or three banks :;
that there ought to be hut one, and that
at Wheeling, he may with perfect proprie
~ vote for the resolutions, because when
the blank comes TO be filled, lie may vote
for IN many as lie pleases-I'or his own
part, Mir II. had hoped, and should have
preferred, that the experiment would have
been gradually made, but his present i'm
precision was that he should vote for as
many Us may be asked for; for when men
came forward and asked permission 10
employ theirown capital in their own way.
tie mischiefs, If any, would fall only on
their own heads.
/NIr. II said the only question was, shall
Tue number of Banks be augmented p
He-argued that they ought-lst. because
there was great anxiety i'll the Western
people TO employ their capital in thiS di-
rection-the tables of the Hons had been
loaded with petitions tot this effect which
was a sufficient evideuce that they wish
ed TO embark their own capital in the same
way-and, 2dly, because, i'll this extend
ed country, new sources of labouT were
continually opening; new uses for CAPT
tai unknown to OTHER countries while in
England and Holland, they had Banks
enough-there were private ones: but in
this country, we had not private capital O.