Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-01-06

fari9rs Resolutions End Bills we-s
ported by Committees. which were ryceiy
ed and laid upon the table.
A resolution was received from the Com
mittee OF Propositions and Grievances, in
favor of forming distinct cannty out o.
certain parts of Kaaawha, Randolph ana
Harfison.--A motion was mace in the
House to reject the said resolution, which
was regatlvcd.
YESTERDAY, the Legislature re.ele ted
Mr.. William g. Pendleton, Register Of
the LAND-OFFIcE.
BANKS ENOUGH!
Mr.. Mercer, from the Select Commit
mittee on that subject, presented volu
minous Report on the " suudiv petitions
for Branches Of the existing Bonks, or the
incorporation of Independent Banks within
various parts of the Commonwealth" The
Report takes wide range-It is impossi-
BILE tor us at this time To present even asys-
tematca bs,ractcfits principal propositions.
ltattempts 70 show tliat cit is scarcely
possible that under government which
requir oonus equivalent to 20 per cent
for the charter fevery bank which il in
corporates, those institutions can be multi
piled beyond the wants and convenience of
the citizen, or the security OF the State :"
and that as this bonus has been cxacted
from tae existing institutions, Justice and
good faith require that equivalent privie-
gcs should not be conceded without like
cGnsidSratiCn--that most of the petitions
are derived from those parts Of the Com
monwealth, which DO not ard cannot draw
the greater part Of their paper currency
from the present Virginia Banks-
that the Legislature cannot create
these Petitioners into branches cf tho
fTesent Banks, as the Stockholders Of
the last have determined at their late meet
ing. that they would not extend the number
of their 6ranches-and that no charter
should be granted which did not forbid the
institution from suspending its specie pay
ments, without the consent of the Lecis'a-
ture.-lhe Committee still further report,
on another branch Of Their enquiry, that
the paper of the chartered banks has de-
preciated at least nine 1er cert. below par
that this has arisen from the suspension
of specie paymeats--that the causes which
led to this determination have ceased to
opcrate-and thst when bank departs
from the spirit Of its early institution. it
must be regarded rs having violated the
principles fits charter That It is the
duty OF the chartered baaks-1. To adopt
the specdiest legal remedy for enforcing
the payment of the outstanding balances
due to them from the Northern D INKS, and
to maintain no intercourse with any OF
those banks, which do not issue specie
2. To receive TO paper but their own or of
such banks as pay specie. 5. To sell the
public stock they possess 4. To favor the
importation of specie by discountiug real
paper or extending to their mercantile
customers such accommodation rs shall
terminate within period fixed by law fol'
the resumption g. specie payments and
s. To import, if necessary, by the par
chase OF bills, the current coin of the u. s.
or bullion FROM whatever quarter it can be
had.
The Report winds Op with the following
propositions that 1t IS expedient TO estab-
lish Is new banks, viz ct Abingdon,
Charleston in Brooke, Wheeling, Morgan
town, harrisburg, aIi.crs6urg, %tddntoii,
Winchester, RomDey, Martinsburg, one in
Jefferson county, che in Loudoun, at War
renton, West Eud in Fairfax and at Dunn
fries.-1he said banks 70 pay the Common
wealth, premium equivalent to what has
been paid by the existing banks that they
shall emit specie ; if they cease to do so,
without the authority of law, their char
tiers may be revoked by the General As
scmbly /; the public taxes to continue to
be paid in specie, or the notes of the Bank
of Virginia or Farmers Bank--yhac add-
tional means be provided by law for enfor-
cling the issue of specie by the banks OF
Vrginia--Sc that the most effectusl means
be provided for protecting the privileges
OF the chartered banks, against the abuses
Of unauthorized private banking.
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