Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1823-12-20
ron THE rseriaER.
FARMERS BANK.

To ne members # d,, General .1s,csby iron, the
Potter md .N"'ih B'si'rnpos IF rosintl
GENrLEMtH :li - ui,ti. sinoh ,h.i "A urouosition
will he subai.ned 10 Tie present General Assemble,
eS'rud ,lIr charter at ils Farmers Bank leu wears
shout ano her bouu>. I he charter nt the V.tpi,ia
bnnk hAv,ng that priuil ~ ran, is sununsrJ ,bat IL
vii be Ter the general interest uf the state tia, both
banks should expire AT The time and th.,ely
eHl n' General Assembly, either 10 wind then, v,i
| consolidate, or reucw III m
. - ot your constituents, rcsnectfpllv ,sks ner,,;s
sion TO ohsi you Snme c"nsi,le raiums in I,ou, Of
continuing The Farmers B,Gk. I shall say n,,,,p
upon the disputed question, whether hanks are hrne-
ct"i nr injurious 'Oa rouu'ry--mv mprcs n,e
that IL Would hsv. been bette, Tor TIN, src,on of coun
rs Al n" bank h'd ever h-en established an,nny us
but has u n" n"" The incs'inn-you have established
h"mi--sou have e'l our people cn,p,non--rr.,,
numbers oI good men ne involved ia ibes. tanks
ani YOU win hen,up su,lnly. you will cause the.
'u" ut an. 'n""re"i families, and dsircss aud rres-
sure "p"" our section oil county unaxampied in our
i,mcs.
call >uur attention particularly to this valley anil
"e 'uJ'c"n' county, aud address you having "a
local knowledge, interest and feeling, leaving The
srna,inu of Other sections of The stae 10 the ronsi
dFrat'on OF the members from those scciions-and
AN You to reflect upon the equences to tins VAL
"y ava the north "esfrrn part Of the state, If YOU
suddenly discontinue the Farmers Bank az W,ncLps.
'e'. The capital of that bank is S $50 OCO--of This
sun am well informed, not more ihan \ SO COO IS
nnw held IN this counirv-The Stockholders within
few years, IN consequence of the pressure on our
part al the copnir', having spid ont their sock-and
tAis stock was puichased aud held ia The Ia wer
couniry-of course, VIXEN the hank is wound up, this
par "i The capital, must lac Withdrawn from us-l
h"i hS sum safely at 200 000.-it is believed HAT
Tue notes Of This bask in circulation are about
10000 of This sum it is believed thar AT least
luO,O0O rs at a distance, ard will he reiursed and
exchanged Tor specie other money and Withdraw
rom u, whenever is determined disconiiue The
bank. Thus
Of the capital held at "a distance there
Willie S 200
Aud notes now circulating distance
winch will he returned and exchanged
Tor other money. 100000
100000
how ~ This large sun, OF money he raised Onl,
ny compelling the debtors to the bank TO pay up, and
that hy rapid ehiria,ls
You are well aware, gcntlem n, of the pressure
winch bas been upon our county, anil iS--and
The unexampled scarcity of money in consequence of
he failure oi our staple crops Tor three
crss'on, which has caused the runons fall in the price
oil our lands and other propeuyI say runous fall in
ire price oi our lands and other property all per-
sous IN debt, have eSperienced-and say that ibis |
la" IN the price OF propery, has been caused, by The
sudden aud rapid reduction the money o The coun-
hy-(tor the price oil property depends greatly upon
me quantity OF money ia circulation in country. y
Ia nus situation OF our country, again ask ynu to |
CONSIDER the cnnsequ' noes oG disseminating tho Far
mcrs' Bank ~ Manchester /? II il Is wound m, The |
effect will he TO take from this country 800 600 Tor
ever.
debts due the bank, redeem the notes in circulation
and pay To The distant srockholdss their capital this
will he taking from, the of 100 900 wear
for the three ycnrs-can pay that sum annually |
without rnining the innocent families of mary good |
(sav imprudeut) men who the debtors 10 the
hank and without csusisg universal distress ~ The
country ~ large? Our property is SO low thai II |
is ruinous Ia al those who had the misfortune pur
chase lands payable tby insfaimenis, and those who
unfortunately are much in nebi. But what will be |
The v'ne oil properly, and the SITUATION of unfortunate
debtors u y lOO,OOO per annum for three years must
hc Withdrawn from this country ? That i, must he !
wi'hdrawu from us forever, is unquesrioaabe-you
can satisfy yourselves Of this truth 10y calculation, aud
authentic informaton by examining the hooks OF the
Farmers Bank AT Richmond
On the other hand, what public good will he at
tanned by winding up the hank Say that banks are
an EVIL, but The wisdom Of The Legislature has esla
hiished them Say that the people have heen impru-
dent, Int will yon punish them for their mprutence
by running their innocent families, and distressing the
county Z The ev lof masking has been doue--the
continuance OF ihc bank will not cncrease them he
cause this btnk ran add little more to it's debts or lis
sirrniai'on--having already done good and profia
ME h"siness Tor the siockholdersso that the bus
ness OF The bank will probably remain stationary.
have said nothing in favor of the banks or their
siookholders-mor any fhing abour the great ineI est
held 10y the STATE IN The Farmcrs Bank, although
much Nigh, well he said on the Latter. IL might well
he said, thai The fund Tor Internal improvement.
aud the literary fluid, will he seriously deranged and
injured by winding up The Farmers Bank. leave
ih- storkhnIdPrs 10 plead their o,yH cause uIe,dI
Tor the people-and world suggest those who are
friendly 10 The proposed Potomac Canal, TO consider
how that great and interesting measure wli be affect
GU ny W'hrdWihg so nitch capital from the country,
most deeply interested in lis success.
u IS understood that the stockholders cannot paw
another bonus. Indeed that serms ev,den, from flc
small dividends they have latteTIy received This may
first view be obj cou To heir apple atinn-bu
when The general interest la this matter is
aud when il ia also considered HAT the extension o
her charter 10 years will only pat the Farmers
Bank on equality with the Virginia Bank (Which
paid no bonus Tor Ills first chnrter,j trust TINS uh-
lection will be waved by the legislature.
One OF YOUR CONSTITUENTS
FOR THE ENQUIRER.
The following statement is submitted To the |
consideration Of the Legislature.
Under the present establishment OF the |