Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1830-01-28

orain but the Bsnk.:-- Mr. G. alluded 10 the ~.
IN which the Bank Yti ions had been yot up-that H.
memorial from the Bank Of Virginia had been kent
"aek Tor 0week, and when il rumored that Il was
a"out &c es'abi agency The Roanoke the cues.
uon was brought forwa,d-the North Western BANK
also same iorwardand that this Colossus stretching n,
e'i rom the Roar oSe to the Ohio, had .ttemp,.J 70
th's' variety oil feelings in its favor. Mr.. G. con.
endeSr that was better To lay THE uuestioa 6r
the new Legislature under the ne Constitution: th.,
there was no necessity for any precipitation; the Bank
of Va had TO live years aud months; aud the other
Banks, years and months.-But gentlemen saw n
IL necessary 10 give time 10 the Bank make up bv
two years dividends for IL. loss of IL per cent and thus
restore its 'ovency But MIR. G. asked what difference
you'll il maka to the Stockholders whether thoy receive
their whole stock IL per cont minus, at last or be de.
prved OF IL per cent. il, the shape Of divdends-And
suppose the next siature should refuse to renew
the Charter. the Common alth may In the mean time
receive i,s dividends, and winding up will no, lose
all the value OF its stock, but only So l2 per cent
stead oil the par value-But Il is said that the Bsnks
cannot now wind up its affairs without running the
people. He asked had il come to this, That an In
sutuon, which had formerly promised much bene.
1T to the community could not settle its concerns
without bringing ruin upon the people. And did nof,
this statement prove too much! Would il not prove, tina
1t was high time to arrest its proceedings, lest lon
ger II con rued the extensive would be its opera
tons, AMI the greater m-chief II might bring on the
Communi'y'-But Mr.. G. said he would express no
opinion upon hi. point-anh all that he contened for
wa. that II was NJ: necessary for this legislature
deciie the question tut refer il 10 the new Legislature
which might come letter charged with the wishes Of
the people.
Mr. &. referred 10 the condition Of the snk of Viz.
giAia; stating om i's exhibits in what way its ios,es
have been incurred But he stared that there are mys-
teries about the concerns oil the In iuop which could
no, be penetrated; that il like the den whose door
many tracks were seen going in, hut nud pestigid
hersum-The gentirma nom Frederick says all this
mystery IL dream that theirs is no snch thi ig-and
in that spirit tells the Commonwe h dream, ,unit
shall be awakened to righ u reality Mr. hen pro-
ceeded to anayse the differ items in the Bank Ex.
hib-he a.kd for instance, what was the character Of
the foreign Bank noes which il possessed were they
ON the Bsnxs OF r. Island, Of OHIO, where it 10
sliI 49, nta. I.s. D.
to the Item o! debts which due TO The Bank Of
Virginia, who will pretend to judge Of hair validity
which ate -prra'e, md which are desperate?
M q. denied the analogy drawn by Mr.. NJ is,n, be-.
tween the lie OF the natural man and Of this Corpora
tion The cases woul be parallel, indeed If when tho
came into lite he assured he could only live
so many years. because ne would then have been COM
PEELED 'omake arrangements during the whole period of
his existence 10 wind up his affairs But the Bank has
been actually 20 premonis!ied-And,e even if this Bank
were TO he INDUCED with IN extension OF its charter
for 10 -or Is years to wind up its concerns, doc
any man believe ihatthey wouli be prepared TO
20 to its long account at the end Of the prescribed Pc
Rod!
But gentlemen tell us by way Of ad terrorem that
there i Brarrus which has already extended its
arm' through ti. great empre and that 10 necessary
20 check 1t by Va. Bank-But Mr.. @ asked how il
was possible for Bank constituted that of vir-
GINA To combat an institution with a capital of $4,000
o0o-But he hoped the time woull come, when some
OF the arms of h Briarens might be tied Topped
of-andi's gigantic Influence reducedAs TO the idea
OF there being necessity OF meeting the Bank Of the
u. :. with similar nstuiion. of our own il reminded
him OF the ANercan, who finding that there were vol
canoes in other parts OF tie world, wished have
canoes in our own country-Anl are we prepared to
have Bank Volcanoes in Virginia, because them
has been creates hy the Government Of the ". So
Mr. o. said that whether there ought TO be State Banks
or not WAS not necessary To decide this que sion at
this momsn;-thM we ourselves the peiat Of
our own dis olutionand that the charter of the Bank
was to continue long enough admit of the new go
vernmsn' TO decide upon It's fate. He asked il there
was not 'osnehng meant which did not meet the ear.
why this mysterious importantly for ecipitatc re-
naSy alp all Al, e. ~. N
W await the decision ON the next Lrgi.lat Why
not await an an Hence hrtorc that botyi-Mr. G. con-
Guided by saying however, that If this House should de-
'erm'ne 10 go into TINS subject, he would heartily
operate with them and give much Dispatch a. posi-
ble 10 the passage OF the Bill.
Mr. MASON OF +. rosa TO reply to Mr.. Gilmer.
He thanked the House for the attention which thew had
already paid him and assured them he would not have
troubled them again. but for the msappehenssn which
ue gentleman from Albemarc had made of his argu-
ments But that gentleman knew well of the carte
and Heyce OF argument knew that if he suffered
propositions TO be assigned TO him, without showing that
he did not hcn they would be made to stand as his
MIR. Nj. then proceeded TO notice some of the
remarks OF Mr.. Gilmcr--For instance the gentleman
had represented him saying that ii was necessary to
counerva the Bank OF the United States the mighty
Colossus which was bcstriding the Continent, by
having Banks OF our own. He had laid down no such
proposition, because he well that the State
Banks could not counteract and put down gigantic
lnstHion but what he did say was this that gentle
men by pulling down the State Banks, could not attain
the object they had in view; that the Bank of the II
States would still remain TO food state with its ma
per- and that other State Banks our confines and he
yond our own regulation and jurisdiction would still be
iound ospread heir paper State. In confirma
ton of this idea, he stated that n had been told since
the other day, that the Bank Marietta in Ohio had
extended II operations into Virginia; but for tho
North Western Bank would carry them on TO a great
cnt and that he had doubt she would be willing TO
give Bonus of 100000 if we would put down this
North Western Bank.
MIR. Nj. admitted, that the gentleman had not misap-
pretended him about the Bank dividends, nor had no
Inexperienced that gentleman. he conendcd that
the argument OF the gentleman this. that YOU sarye
the horse, while the grass growing: YOU paraze
the two great funds OF the State for years until their
whole stock restored s. that the same manner Won
would sarvc the widows and orphans who the stock
until their capital was made good. Mr. NJ. showed how
the stock could be made good, by re-charicring hem
without cutting off their dividends: And how was il 10
be done? The Bank makes than per cent upon
sockholderst lays by surplus fund from which its own
debts may be paid and It's sovcncy in due time
MIR. NJ anibadSertrd UPON the argument of eptbets
which MIR. G.. IVA emp oyed-his speaking Of Shyiock,
aud the roaring lion with his bleeding prev-the n,ys.
tericf and III. clue OF Arisdne in the Cretan LADY.
rn,h which lie coptendei. far from being
gumeDts Themselves that they d~trac eli from the orre
OF his arguments. But the que son did not rest on
spithes 4 rhetoric, but on hard dry facts And where
was the mystery Of which the gentleman spoks p
wbers the proof of it which he had produced? Tho
gentleman indeed, speaks Of the foreign which
the Bank OF Virginia possessed in lite coff.rs-of The
bankrupt banks of Rhoe leland and the Rabbit Skins
Of Oo and he conpia aimed that i- Bank had di,J,ned
to show their real character. But Mr. NJ asked whether
the gentleman himself had not dislained to ask tho