Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-12-24

Oct oa,,, r.soiut;on. He f3red not for his
p ,,'n NIT. whether enc Vas asked Tor, or
CIV" '..;lI;nn' nc the people wanted IT, II they
I'D E,rnish the capital and employ
:, 70 their own satisfaction, he would grant
Mr. IT. confessed, that he experienced
oat difficulty III selecting the path
sh;ch he should pursue. THIS was not
The nropcr time, nos the proper Doggy, TO
axan,ine the abstract propriety OF bank
;pr institutions. Such an investigation
would lead him TO Il bourne, to limit, al
most as distant, as the 3ist OF March
Other gentlemen too had gone mo that
d;sc,,ssion-and he should therefore pre-
nr The course ofansweriug iheobjections
,,hich had been raised against the bank
;nu system. And what were they g he
Gr,t objection was, that il was unconstltu-
tional to incorporate bank IN Virginia.
and where does this objection arise! from
= worthy gentleman from Oinwiddie, and
= worthy gentleman from Ilenico. He
wished that this objection had sprung
from any other quarter, for one o. these
gentlemen represented county which
lad banking capital of ST 100000; the
other from county, with 1 capltal OF
nearly one miliion--botii these capitals
originating in the repeated petitions OF the
people whom they represented.-l The gen
teman from Bath had right to urge tiis
objection; hut that those g,ent.smeh
who have banks among them, shoute OBJ
iect TO their extension beyond the limits
of Richmond and Petersburg, was indeed
extraordinary. (NIr. King rose 10 explain
he was against all banks without dis
tnction. MIR. T. said he certainly did
not mean to charge the gentleman with
inconsistency foras il was the first time
rhe gentleman had been on this floor, we
had no standard with which to compare
hispresent opinions-but he had right
TO presume from the present appearance
Of that gentleman, he had no hand III the
establishment of former banks-l'ie IN
consistency, TO which he WAS referring,
respected the quarter from which the Oh.
lection came, not the person who had
urged it.=That gentleman would excuse
him, for saying, that it was very young
man who had made this discovery at this
very late hour-in 1893, when the people
of Alexandria (whom he could now wish
were part of Virginia,) petitloned for "a
bank, what had taken place! The peti-
ton was received and almost unanimous
" granted. Yet rely upon IT, Ia 93, the
Legislature was composed OF rs wise men
as now fill these seats. In 1903, the peo-
pie of Norfolk prayed the incorporation
of a bank and their petition was not on
~ received, but the present system en-
grated on it (; instead of giving them a
stone, the state was blessed with four
banks and yetin 1903, there were men
within these walls of no little attainment
in the science of politics. In 1910, the
people ofRiciimond asked for anew bank
their petition was not only graciously re-
ceived, but the Legislature granted them
more than they had conceded TO the
Bank of Virginia--Six banks had been es-
Tablished instead ofone. lie need not OBJ
serve, that no objection had been urged
on the score of consttutionality but
when the opposition found that the
measure would pass, they were glad 10
receive part Of the benefits. In 1913,
the charter of the Bank of Virginia was
extended for II years, without the slight
est objection being made on the ground oil
the constituton.-Betw 1893 and this
memorable year 1916, we have also pass
ed 40 statutes, whose object was to send
TO tile peniientary or the gallows, per-
sons who had forged tie notes of these
banks, or been guilty of similar offences,
without one word being alledsed against
The constitutionality of their charters
Thus from 1868 down TO 1916, the uni
form course ofthe Legislature was in "a
vor of the power which had been exerci-
sed.-But again have YOU known no
prosecution OF individuals, nor Judgment
Ofyour courts, against suchaS have coun-
forfeited the notes of the banks or the
checks of individuals? Have you known
ofno suits instituted by the banks against
their debtors Scarce year elaps-
es, in which actions have not been
maintained on the basis OF this unconsti-
tutional charter. Yet it has escaped the
acumen OF all our lawyers and all our
Judges, TINT these laws were void, be-
cause contrary to the constitution. Cen
tlemen would then excuse him, if when
hefound for Is years, all our Legislatures
and Judges deciding in this way; the
worthy members from Henrico and Din
wddie would excuse him, if he did not
place the most implicit reliance on their
opinions, as much as he respected them.
Mr.. II. wished next to look at the intrin-
sic evidence of this subject.-As to the
powers ofthe Federal government, he had
nothing to do with it-But that they had
the right to incorporate bank, the v
had pretty strong evidence in the wisdom
of Washington. the virtue of Madison,
and the skill of that gentleman, who had
planned the charter of the present bank of
the u. S.-but admit that the federal 90
yernment have not this power, it is GER
tainly non sequitur, that the States have
itnot. The Federal government being
founded on grant ofspecial powers, YOU
l~,,,rH to 10 x,or,r f,urrcr 80, fi,o go