Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-02-07
2,83I,246 70

SO that on III" first Of January 1924, there was due
the Farmers Bank, not much short OF three million,
OF u"''n's Ian any person estimate what distress
s"d ruin 10 individuals, and what risk TO The hank
'seli, viii attend the calling in such sum AS this M
period of pecuDiary distress, aud when the country
has gone through sucl, an ordeal has been ex-
perie1ctdr Considering the Conimo IN wealth as a
mere stakeholder, she is deeply interested in fi,e re-
suit bat regarding The duties which are sacredIy in
cumen, on pdtei nal government, she is certainly
buhnd o protect her citizens, from, measures which
cannot hut he calaniOus in the extreme II is well
known that IN many cases where time IL allowed 10
debinrs and what due is gradually called in no,
only the debts hut The debtors may he saved Such
Is the policy which The bank is pursuing il acts with
care and d'scriminaiion and whilst on The one band
It endeayours TO secure it's debts, IL slndiousy avoids
on the other, long possible me lsmres calculated
10 crush those indebted TO IL.
These views ot the subject are resnpcifulIy sinh
united Ia lhr Legislature by Your petitioners with
pe'trc' eonfi'Ience that they will he weighed with
The dei'era'mn which The importance Of The subject
requires, ana 10 as TO lead 10 determination which
will be Isl calculated promote the interests nT
those 10 " hom lie hank belongs, and Of the COM
muniiy in general. There is a further lrlt in which
this subject will be presented. II has already been
sbewn, that The compensation paid to the State al
the origin OF The bduk large az 10 defeat dur
ing Iis continuance any reasonable prospect of lis
being proIiahc 20 the suhscrihsrs. The State has
large interest M the back, growing entirely las 10
The original shares oui of sums paid y other stock
holders. IL has tecrivrd much greater dividends
than any ordinary sockhodcr. II the charter he ex-
DetIttOnrTs AL
IDENTIFY 80 the hberay aud justice OF the Legislature
tbat they will not ask any compensation for such
renewal : Nor is ~ lie interest of the Common
weai 'hni II should. Que great object is 10 resture
the Value ol tie stock. renewal of The charter
VIII have fli1t effect bot NOT, if accompanied by
cen''nd of compensation. Tire stockholders cannot
~ lth ~ ccepi OF renewal cingged with bonus,
aud Il they did, the price and value Of The STOCK
w"nh Keep down. IL must not lie lost sight Of, that
TIE Sh'e Is no' only stockhDidrT, but vastly the
iftges' sock holder. She holds u,bre Than one filth
ni al The sock Of the bank IT, demanding y bonus,
she would be demanding ~ 10 y certain extent of her
sell u she suffers loss her stock ,y Inc sudden
winding np al the ins'iiuiinn, she would lose more
'i'an size could gnr, 10y any bonus which could be
obtained. Such course would either prevent
trnr""l, or ii took place on such terms u would
dt ai Oir great Object for the attainment Of which a
,c""wdl wuud be desirable the restoration Of The
t"'lnr ri The s'ock Besjdes, by renewal under "a
VOr"be n"spCss, new spring and impulse would he
g''"n ~ he insnlion, whirh would contribute main
" y" us prosperity, Nd IL - highly prOhaiff that the
CDarnoTwrs,ih would fnh 10 Ne ipcreasei profits
'r'iHe f"ain""iurn, Tor liberal and mag ganiuous
course IN r'on IT, %. The considerations which have
be" urged -rr'Ofurs, relate an0st exclusively Ia
hc Siaie 'ftl nd'vdrtls considered merely "A stock
h"hr'S mere arc, however, reasons Of policy ap-
lf' tg ~ lie gstcrnfcnf which rnptf ~ h,ve great
weight TIE Grnerd Lrgtsl4inr. Of Tie Unto1 are
h0und 80 i'kr of flr general interests but there
~" duties - wei Hs nerets ch hronr also 10 the
> HcS, i"sW cntct. liz i've present situation Of
ih"g- ~ NAV "trn Lr ,uIDfftri To The gOvcfun,eut
nf iii- COuairnwealfb, 10 resort fn hanks rre,t,d
Hnd fU-Ierrd ly iself, 10 d us hnanrin operations
Dh 10 pfnmnie oi-tfs ol great public interest," The
iin'h 81 tbs 's demonstrated w The iac that during
i've llre' advances we're jrnmpilv and clee,f,lS
rade Ivy he htoE, IN I'D, amit patton nr the pu6
lic resources t,,fotns have uccssionally been made
~ aid public woib., aud that The iuterts,s of tne
5tite ~ his insu'ipr, have been ny ,Ie,o
ten go purVsrs % public improve aud The pro-
motion ri hicraiUe. " vii lie lnf lie Legislature
10 decide, whcihct, under ~ the aspects wIcl, hi.
SUBJECT pFesrris, fhey vii Quake II The duiy uf hf
2 NsnHt .arfN sIsss.
sonale extension ol Tie charter, they will enae :,
90 restore 'he value 81 he stock aud 10 promnss the
gfeai Objects which are, IN some degree depeudest
on tie prosperity of ibr institution. Your performers
ior lie which fbey have stated AVID for such
Y'liers as will present. themselves fn tie mind ri the
Lsgslyfofr 0pthe concentration Of tue subject tes-
prcioly pay tfAi your honorabs body viii extend
"e" chplsf, los spoh period ss, w sour wisdom ,