Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1818-01-01

NNhom retaining competent miiUencc
: IN the directions OF the bank And the IN
5 fiuepCe retained IN the valley Bank is a
peftcctnuiliiy. therefore, the evil should
not nc EXTENDED by an Increase of capi-
! TAI.
~. The interest Of the community at
large. The citizens OF Virginia, are all
! entitled TO the Ssipe privileges, aud when
iavors are conferred by the legislature ON
p, a part, d reference should be had To the
| rls his and eajoymen.S Of Tie whole
! We are all deeply interested Ia the seer.
! rity Of tie circulating medium. 10 IN
| fringe This right wOGld shake the FONDA
| ticn OF private property. Bat The secu-
! rily Of the bank would re best promoted
! llV the cOnnoi ol the state ih Its dIreciion.
! The very name OF The stale would add
| dignity 90 the paper, and the loss of pub
| lie confidence IN the issues will ben pro-
! portion To the extent OF private influence
! IN the direction. And bank should be a
| boye suspicion 70 controvert the posi-
! tons here advanced woud amount TO the
| pie would he better promoted by u few
privileged individuals, than by the re-
| representatives. ottlic hole cOunonwe alih;
which IS pipabiy absurd. And, conse-
Quentiy, the capital OF the Valley Bank
| should not be augmented, without an a
mondment of its charter.
| 3rti. Even the interest Of tic stockhold-
ers will depend, i'll d great measure, on
| iiie control and patronage OF the state
| !or it has already been SHOWN that this
control would advance The security and
! currency OF the notes. am here fortu.
naiely supported by the uniform theory,
and successful practice oil Virginia.
Again. 70 increase The capital OF the
| VII.
! ice TO the banks previously established.
| Ii would be an Indirect ccnsure on the
! whole tenoroftheir constitution and con
| duct. 1t would subject computations un-
! der The salutary influence OF the State 10
an unjust competition with other corpo-
| raiioUS liable 70 be guided by private ca
| price. 10 the branch bank at Winches-
! Ter The injury would be peculiarly oppres
slve. Why, then, increase tins novel pro-
! geny toa gigantic sizel Is it because the
| other banks have always maintained Il
! spotless reputation Is ii because their
| i:deIiy was proved IN the day OF war and
| calamity! Is 1t because you anticipate
| more patriotism, more support, from the
| Valley Bank, when the war-whoop OF the
European aad bOiIgnal savage shall "a
! gain rcsennd through oar country You
aust answer no. Let The innovation,
a.
ing be carried ma farther.
What then must be dOne with the ca
pilal demanded, If The Valley Bank is not
20 receive IT In reply, 1 Viii first sub
nit a case for consideration. The legls-
latGre has alfeany granted 10 this Valley
a bank capital OF eight hundred and fifty
thousand dollars. Ne ask Tor more. Sup
poSea similar demand exists ia other parts
OF the state, destitute, or more n,Oder-
aiely supplied with capital; and imagine,
moreover, these denaNdaTts 10 be farther
removed from The accommodation OF tie
District and Baltimore banks " ould YOU,
gentlemen Of the legislature, comply VITA
! our claim, and reject theirs Are you pre-
pared to accommodate all parties. even
at the risk of overwhelming the country
with deprecated currency And can
you decide, without Il longer pause, that
the case supposed Is merely Imaginary
| But II is now, perhaps, too late 10 urge
| these considerations An evil has been
committed < should be remedied. This
can only be done by establishing the ca
F, pItal demanded in such manner as to
| counterfeit and balance the operations of
! the Valley Bank. Either one OF the state
1 banks al Richmond, should he authorized
! TO locate sufficient number of banks i'll
, this Valley; or the branch of the Far
! mers' Bank al Winchester should. with
( the consent of all parties concerned, he
I organized !HtO a mother institution, with
( the same capital and as many branches as
/ The Valley Bank. The advantages of this
! plan are obvious. Il would end at once
! the clamor for more capital; and those
| WHO sbould still prefer lie Valley Bank
| would find vacaccies enough; for veri-
| " believe more than One-tllIrd ofthe stock
! would be gladly removed 10 bank eSta-
I blished uuder the auspices aud control of
the state. Il Citizen Of the Valley.
+ No. III.
| The Bank of the Valley is, and will al
ways be, decidedly federal. Six direct
ors OUT OF nine viii iniallibly he POLITICAL
| iy opposed 10 "A majority Of the people
Hence assert that the influence retained
by the state in tIe appointment of three
directors, is perfect nuliiy. II is ne
ceSsary 10 dlaic on th! part Of the sub
ject; and should my Cls WatIons be re-
| ceiyed with spirit q utolatauce, my CON
science assures ne lncy originated in "a
sense OF public duty
am equally oppose % political per-
secutI0n, and t. political suicide. II,
reasoning from, 81 experience, and from
the nature of thugs, Ne allow 20 federal
ISIS as may privileges as they would al
low us, un eT similar Cirl umslauces there
is certainly no foundation for The com
paint ofinjuslice. Shouidtlle legislature,
IN matters not Of general but of special
right, extend lis iavors equally to both
parties, il would do more than lc.eraisis
have ever done. But suppose the leesa-
turc should confer on fcdcyalists mmuni-
ties which il had uniformly dcnicd to re-
0HtHcals? Is this wisdom or folly. Jus.
tice or Injustice II is, III plain language,
! 70 ID.