Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-01-28
NEW RANK BILL.

NEW BANK BILL.
We understand that the BiIl "to estal-
lish sund-y New Banks within this Com
monwealth, now before the Senate, WIS
referred on Saturday TO Select Commit
Tee, to draft a new bill, suitable TO the i
IDEAS which had been agreed upon in tie
Senate. Yesterday, the Senate were act
ing upon the reported bill. filling up the
blanks, &c. We understand that the bill
as II now stands, contemplates the estab
lishment of tvo banks one at Wheeling.
with one branch at AjOrgantown, another
at Wellsburg, and another at Clarksburg
III HARRISON County, the principal bank 10
have capital of not less than $500, 600.
and not exceeding 5000, 900, of which
each o.! the branches is to have not less
than $500 000.-I'he other bank TO be
established at Winchester, with a capital
of not less than $500, coo, and not exceed
ing 5000, GOO, with one branch of not less
than 100000 amount, at such place eli
iher III the county of Loudoun or the
county of Fauquier, as the Stockholders
shall select and another of not less than
Sl0o, 900 amount, at such place as the
Stockholders shall select within tlecoun
ties OF Jefferson, Berkeley, Hampshire
and Hardy; and another, at such other
place within the same counties as the
Stockholders shall select, of the same a.
mount. Two fifths ofthc capital of each
OF the banks TO be paid up inspecie, before
the bank goes into operation
I'm addition 10 the amount of stock$ub
scribcd TO these banks, anumbero OF shares.
equal to 5per cent. on such amount are
TO be created, in the name of the Com
monwealth, for the benefit of the 4" Fund
for Internal improvements be paid
for, by charging an equal proportion
thereof on each share disposed of TO sub
scrlbers-to be paid in, in 30 semi-annual
instruments and retained by the presi-
dent and Directors, out of the dividends
as they are declared
This bill will probably be finally acted
on in the Senate day.
70 In the hurry in which we put onr paper
to press, some errors are inevitabe.-In our
last, for instance, on stating the AYES & NOES
upon the adoption of the first resolution of the
Select Committee, the name of Mr. Williams
tof frederck) does not appear, as il ought TO
do. among the ayes. Mr.. W. not only voted
with the ayes, but was the member to call for
the ayes and noes.
We are told. that we have statedincorrectlv
the remarks which fell from Mr. Mercer tof
- in the early part OF the debate on Friday
We most cheerfully. therefore, give place to
the following statement:
Mr.. Thompson, of Fairfax, having renewed
his motion to amend the report of the Commit
tee ofthe Whole, bvinsertng after the words
= TO extend the right of Suffrage" the follow
ing: p" to all persons having sufficient evidence
OF permanent common interest with. and at
tachment to the community ;; and sever
81 gentlemen, among others, Mr. bod
bridge, (Of Brooke and Mr. Estill (of Wash
inston,) having expressed their appreciation of
the motion--hir. Mercer rose, and after apol-
ogZng TO the house for again addressing them
upon the subject of the report of the Select
Committee, which he would not have thought
necessary. had not the worthy chairman ofthat
committee himself departed from the course
which the friends of a limited convention had
agreed TO recommend to the honse proceeded
in substance rs follows: What had been the
spirit OF that recommendation, To limit the
authority of the proposed convention to two
obiects-an equalization Of the representation
ofthe people In the General Assembly and a
provision for such future amendments Of the
Constitution. as experience had already dis
closed. or might, hereafter demonstrate TO be
necessary or eXpedieDt. For the power of this
General Assembly TO equalize our presnet sys-
fem of taxation, is as complete at present as a
new convention could render it, aud has been
| introduced into the resolutions of the commit
| tee to Obyiate, presume, (said Mr.. NJ an ap.
| preheHsiOn which might be entertained i'm the
| lower country. that after the equality Of our
| representation had been restored. the ineuuat
| ityof orr TAXATION would be permitted 10 re-
so inst right to complain.
! WHY depart from the report Of the Select
| Committee, foundcdina sentiment of modera.
ton, so we'll calculated TO ensureits object the
1 assent Of 4 majority OF tire people TO the propo
| sedcOnvention Sir regretted on Yesterday
| so see the friends Of measure, so essential Il
the future tranquility aud happiness of ia,
| Commonwealth, ABANDON their own principles
| Has any beneficial object been attained by thi,
! departure, IfyOu extend the powers Of ti,
convention beyond the limits so wisely fxet
BY the committee, where viii Won stop VIII
not the member from Wythc propose farther {,
amend tie resolutions, by inserting pOwe
10 alter or ahelish other parts Of the existin.
.constituticn2 Sir. am very far from pronOun
cling all the alterations which he proposes. eth
er unnecessary o. incxpedient. ! am Of opiu
ion. that the Executive branch Of our govern
memf world be improved by looping off from
the CouncH Of State and the independence
Of the Executive. on the Legislature. augment
ed bv an election ofthe Governor blythe people
ButI would vote against any effort to enlafg
the powers OF the Conventions N relation {
these objects, however desIiablein themselves
IS yesterday voted against the amendment