Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1822-02-12

grounds assumed in the petition il presents a
strong case for the interference of the lecslu-
ture. Some of the stockholders said Mr.. r..
u is true, are foreigners, but they have no par
ucipation In the direction Of the institution;
but, II must be recolected, that n considera-
Die part OF the stock is held by our own c,i-
zens, and by their widows and orphans and
some OF If, probably, by religious and benevo-
lent societies. 1t is, however, flitile consc-
quence TO inquire who the stockholders are.
lnasmuch as the stock is transferable and is
ualiy changing hands, unless it be the part
held by the government. Let the capital of
the bank be furnished from whence it may,
the directors having it under their control,
ana Inc government deeply interested in the
prosperity of the institution, il is proper that
they should have the power to employ its
capitai with the greatest possible advantage to
the nation Whether all thoy have requested
by their petition he necessary for this pur-
pose, or whether, if granted, this effect would
be produced, Mr.. +. said he was not prepared
to say. AS to the modification of the pro-
vision, oil their notes being receivable in all pay
ments to the United States, il involved "a va
riety OF important considerations. He was
aware that the existing regulation operated a
galnst the interests of the stockholders but
still 1t was an important part of their contract,
from which we should not release them with
affect the interests of the local or state banks,
nor OF the commercial part of our citizens, nor
interfere with the financial arrangements OF
the government; of which none were quaif-
ed to judge unless they were conversant with
the details of Thanking, with commercial opera
tons, and particularly acquainted with the
financial concerns of the nation. Mr.. Find
lay confessed that he had not an accurate
Knowledge ofany of them, and should not,
ION on that point with the Committee of FL
nance, that reported the bill. But, as to the
lneii,iblty of the Directors who have served
three successive years, IFS operation might be
understood by every one and, with due de-
| terence To the Judgment of the committee, he
had no hesitation in expressing his opinion
that the request ought to be granted The.
members of monied institutions, said Mr.. +.
are generally watchful of their own interests,
which would suffer them to pursue in their
own way, when it could not affect those of o.
theirs; and, from my view of the subject, the
interests of none could Lbe effected by per-
uniting the stockholders of the Bank to rec
lect agents whom they have found to be faith
ful in the management of the Bank, though
| they had served more than three successive
| years. Convinced, AS he was that no evil
could flow from granting the request of the
Bank in this particular change of any princi-
clple contained IN the act of incorporat ion,
and, therefore, would only move that The bill
be recommitted, with instructions to the COM
mttee to introduce provision, suspending
for five years, or otherwise modifying SD
much of the act of Incorporation, as declares
the Directors Of the Bank and its branches
shall be eligible who have served three years
in succession-not embracing the government
| Directors.
| Mr.. HOLMES of Maine, observed that be
was one, of those who, in the committee, had
negatived the application of the Bank for the
objects referred to by Mr.. Findlay, and it was
incumbent on him therefore to shew the
grounds on which they had been refused but,
not expecting to-day motion embracing in
structions TO such an extent, he was not at
this moment fully prepared for the subject,
and hoped it would be postponed to Monday.
The bill was postponed accordingly.
In the remarks of MIR KING of New York, report
cd in paper of Thursday last, an inaccurlcy oc-
| Cured, which IL is proper point out. He did
say that 1t was the treaty oi ST. Ildeionso by which
Louisiana ceded 10y France TO Spain nor did
he give the name date of The treaty by which
| this cession made, which, he SAID, had never
been published and that tile only public document
on this subject the letter from the King OF France
To ID Abadie. BY the treaty of ST. Ilefonso Spain
dcd Louisiana back 10 France and this Treaty was
| also kept secret