Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1830-02-01
IySCHBURG. FEB. I,IS3O.

t.f
-
~. Mem Constitution. We do not think
,b.re is any reason to doubt OF tie acceptance
II the new constitution, by very large mhlo.
x;tv of the people. Almost every man may hni
:, some provision which he would expunge,
alter or modify or some omission which he
would supply but, taken rs whole, nearly
.vsrv person whom We have heard express an
ooinion give it decided preference over that
which it is Designed 10 snppnnt. The "1ten-
sion of the RICH. Of suffrage the equalsing, in
a great degree. OF represen tallon-the reduc-
,ion of the number oil the House Of Delegates
the alteration in the character and the reduc-
Cd number Of the Executive Counci-aLd the
increased responsibility of the Judges, whl's,
,hsir Independence is fenced in with Ii triple
.hield,-sre advantages which must not, and
will not be rashly thrown away, becans ea,h
one did not &c, all tina he wanted II the new
constitution m4lat entirely equal and JUS, III al
its provisions, it is incompa ably more 80 than
fbe old And the question for each individual
10 ash himself, 10, NOT whether the NV consthu
ton is such an one as he would prefer above all
other. I but, is it. or is il not, preferable TO the
old and to vote accordingly.
The B1nks-Thc proceedings OF the Legis
l.,urs, which we insert this morning. embrace
40 in,eres ing Debate on the subject OF rechar
yerine three OF the Banks of this Common
r.,
three or four years TO come, We th,ak II would
bay. been better had the application Tor their
renewal been delayed until the government had
zone into operation under the new constitution.
And, besides, the Simultaneous application OF
three Banks, the charters OF which do not eA-
pre at the same periods, looks too much like
Io. rolling-in other words. as If the friends OF
the different institutions are afraid to rus, III
fate Of each Of themupon It's own merits o. claims
and had therefore, in effect, SAID to one another
you will support me, will support you -
a most iniquitous, though We fear a too frequent
mode of legislation. But, rs thu application
has been made. we hope it will be granted at
ibis session, lest posponemeni should operate
to the depreciaIio" Of the va4e Of tn" stock
and a heavy loss fall upon tie State, and upon
individuals who are lily able 10 snst"iu it. If
q new company were asking for an act of IN
corporation, no one would more cordially dep
xecate its su cess than ourselves. nasmucn as
existing insti' uions sufli lent for all the
purposes Of traffic. But The considerations
.ob n data
minaton, lose their foe wh"o Institutions,
long since chartered, come before the Legisla-
ture their soyency uuqaeslioaed, aud 10 act
of fraud or msmanagrment imputed to them.
---0n the subject of Banking, we have come to
this conclusion Isl, that nough some evils
do grow out of such institutions, vet that they
are necessary in Commercial communities 10 al.
ford money facilities to traders titus preventing
monopoly OF capital in lew hands, DIES
Uuctive to fair competition, & consequently so
injurious 10 the interests Of the planter. by de-
ceasing the prices of his produce--and . ls
even If this were not so, that We must have
Banks Of our own TO guard ourselves against
beiag flooded with notes Of 'reign Banks,
which We shout otherwise be compelled 10 re-
sort to as circulating medium. Whether these
considerations are sufficiently strong to counte.
tact the moral evils Of which Banks said to
be prolific, we leave for professed casulsts to
discuss. We believe thai they are.
llJ' Posisenpt.-Since the preceding re-
marks were in t,pe, have received the pa.
Pers BY Saturday evenings mail. by which We
iearr that MIR. Gilmer's motion TO postpone IN
definitely the consideration Of the question
of rechartering the Banks has been
rejected, by vofe Of rs % lll-aud that the
House had agreed TO me resolution OF the
Commute" declaring their application for new
charters reasonable
The Cdnddds ~ rnelgelic and forcible
writer IN the Boston pa,iot advocates withesr.
neStn"ss the purchase al tn. Canadrs.'' lie
takes the broad & round that as the obstruction
10