Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1823-10-28
FoR TuE ENQUIRER.
NJ nE trr,D

! X.
| FARMERS BANK OF VIRGINIA.
| (Thr Charter ofihi7 Bank will expire on the
| as, day of June 1927 and the Charter OF
IN" Bank ef Virginia on the first day of May
! 1883. \ II will bc readily seen, that the pGIlic
interest requicfs, that The Charters fthrse ivy q
important institutions should terminate, at one
and the same time ON which interesting
| event. it wifi appertain In legislative wisdom,
to drcide whether these charters shall he re-
nrwrd, or, what shall he the destiny of baDk-
ing institutions i'm this commonwealth. lAt
presentit is only necessary, To invite the p,itp-
lie attention 10 that branch of the subject,
which vitality affects considerable number of
widows, orphans. executors, administrators and
other Trustees--as also the general benef, of
the Community. The Common wealth holds
stock of very great value, in the Farmers
Bank, as we'll as in the Bank of Virginia of
course we will all ackno wledge. that every
member of the community, wh0 in any shape
pays tax, is Interested in that disposition of
this public stock, will insure profit instead
of loss. Ii win also he recollec,ed, that the
large and permanent appropriations, for the
internal Improvement of our country, and the
education of our youth, consist in a great
measure, Ofthis same stock. Hence it will be
readily seen, that the Commonwealth impart-
ed great credit and stability, 10 these institu-
tons. by Interviewing and consolidating her
| interest Herewith whereby many persons q
the above descrption-many other persons
| Identified with the agricultural and mechan-
Cal interests of the cOuntry-as also many tes-
tators by their wills, were encouraged and in
vIied, Ia make large investments of money in
the stock ofboth Banks it will perhaps be
found, that the stock held by our citizens Of
the commercial towns, bears but small pro-
portion to that owned by the country inter
est Sound policy and the general interest
| certainly do require, that the Charter of the
Farmers Bank should be so prolonged, as not
| tn expire until the 1st day ef Nav 1885 Some
other considerations are also entitled Ia Sc
| rlons notice. Debts ola large amount due to
the Farmers Bank are secured nv deeds of
| trust on real estate it this Bank, in cOnse-
quence of the approa ching termination of its
charter, should be compelled, hastily and alb
| ruptly To adjust and wind up its business a
vast mass ofprOperty, will he at one time for
ced into market, and the most caamtous loss
rs wi he sustained by the individuals owning
| the property: il is reasonable TO presume that
many mopied capitalists. will hold their funds
| I'D readiness To meet such disastrous event
IL is more than probable, that the present re-
dnced prices, of the real property incumhered
aS Just mentioned. may in some measure BE- at
| trlbuted to the crisis contemplated. Ii is
obvious tn all, that the Farmers Bank stock is
less saIeable and productive, than the other
Bank stock: for no other cause, than that the
Farmers charter is rapidly advancing to dsso-
luton by limitation of time. Only enlarge the
time until the 1st day of May $685. and IFS
| stock will prove to be as productive as the
stock of the other state bahk-and besides,
the real property encountered for payment of
debts, will rise in value and the prOprietors can
gradually effect sales and discharge their Bank
debts. The country stockholders particular
~, arr; requested to take into thrr serious con-
sidrration all the aforesaid matters, and al
proper means should he exerted, in order To eff
feet full meeting of the stockholders in the
course Of next winier-as it is sincerely belieI =
ed, that on prosecuting the case fully and fair
ly on its real merits, the Legislature will readi-
| ly grant the desired elonga;ion Of the Charter
without any new bonus consideration.
| do not hold share of stock in any bank
whatsOever-it is true represent the interest
of widow and her orphan children, who own
hank stock.-I owe not dollar to any bank,
and owe no man who is indebted tn Bank.
| A FARMER