Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1830-01-26
KtrttttOtVU EEdnf0,
TUESDAY MORNING, JAN. 20, 1880.

-
Re charter The Bank q pirginia:- The House
of Delegates were yesterday engaged in considering
the report of the select committee to whom had been
referred The m'mMials at the Banks OF Virginia of
the Valley. and the n Western Bank, pr wing the
Legislature for renewal Of Their charters. The re-
port Of the Comm ttee as is said by v1te of To o)
was favorable to the prayer Of the petitioners
Whentho report came up. Mr.. Gilmer moved to
postpone 1t indefinitely which drew ON an ella borate
discussion Mr.. Gilmcr and Mr.. Minor supporting,
and Messrs. Rutherford Harvic aud Mason OF Fred
opposing tho motion. I'm favor of post poncmcnt i,
was argued fhat the present session rc,dy I'M
reasonably protrac'ed; that had been determined
| IN consideration of the change which impcndcd in
the fundamental law of the State, not TO enter upon
general Legislation at this session. that if this rcsolu
ton was proper in other cases il was much more so
where important peculiar privileges asked that
| the next General Assembly would be much more fit
than this from the fcwncss OF its numbcrs and the
more equal representation Of the people TO decide
upon SO Important measure, and to express the
public will, and that the charters of oil the De-
'itioning Banks had than three wears to run.
no possible injury could result from the postpone.
ment of the subject at this time These views
were powerfully enforced by Mr.. Gllmcr, and Mr..
Minor in addition, entered Remuneration of bank
ing institutions in general. On the other hand
was argued, that if the Legislature gave the app
cation the 60 bye, it would operate injuriously upon
the stakeholder and the publc-upon the stakeholder
because being construed rs an ntmation TINT the
charter would not be renewed it would tend TO low
or the price of stock--upon the Public as the banks
would instantly proceed to call in their debts in Or
del to wind up their Affairs The State it wus urged
would suffer in her corporate capacity as she owned
2-5 of the Stock Of the Bank OF Virpinia-and ap
would suffer, from the reduction of the Circulating
medium, produced b. the suspension of the bank of
Virginia reply to the argument, that the subject
had best be turned over to the next General Assem-.
bly,, 1t was contcnded that that Legislature would be
laborionsly engaged in organizing the new Govesn-
ment; and that as the investigation had TO be made,
and the question TO be ududicated by the Legislature
some time or other, that now was good time as
any otheI The discussion is to be continued this
day.
low the matter is to end, II requires no ghost TO
tcll--tor when did money come off second bes
IN any contest? Six years ago, when apple WINS
made for the renewal Of the dhurtcr OF the Farmers
Bank OF Virginia, public opinion not less decisive
y hostile than Is now, to the of the project
Then 10 now, large majority of the Legislature re
fiec'ed the opinion of the people, when the question
OF renewal was first broached-but the ranks Of this
majority were soon thnncd by the lobby and extran
eous influence, which them will be brought TO
play upon members in detail. The Legislature will
make wry mouths, manifest little unrulness. but
will finally yield to the skill of the anglers and suffer
itself quietly, to be dragged to shore The people
indeed, in every section and with an unanmity which
prevails upon other subject feel IN indignation a.
gninst banks, bordering upon abhorrence and would
If they could, sweep them with the bosom of destruc
tion-but the people thing and the LegisIa
ture another. We will venture to say, from what
We know personally and have heard, that not twenty
men, living in the County of IIcnnco, out of this CT
" can be found, who would consent to charter the
oank oil Virginia, or any other bank-yet of the
representatives. ofthat County, doubt acting up TO
MS sense OF duty is an active partzan Of that bank in
its present application We cite this instance, be.
cause is at hand, and because we have some know
ledge Of the people Of this County.
The circumstances upder which these banks have
made their applications for renewal are worthy of
notice. All Of the charters have more than three
years to run, 30 that whether renewed now. or
one year, or two years hence, must to them be
matter Of perfect indifference. A new Govern
mont, Is within 2 months, to go into effect, which
oil men admit must in the Of things, be bet
ter qualified and ut much less expence, to decide
upon the merits Of such applications, than the exist
ing General Assembly, almost mob numerically,
and cgisiatIng Mt cost unknown to any other poo
pie In addition to these strong and unanswerable
reasons for denying their application, the most dc
ci'Ve' the most unanimous repugnance. animstcs the
pubic mind at this moment, and has animal ed II since
the detection Of the banking enormies in Car
DINA against all Banks whatsoever One would have
imagined priori that Of all other seasons for ask
ing renewal Of the Bank charters, this would have
been the last which Bank agents would have volun-
tariIy seIected that the public distase of Banks so
powerfully excited, prevailing with much bitter
ness, and so much ununiinity would have been per-
United to subsdc little, before the Representatives
OF TINT public were called upon to the charter
OF an expiring monied corporation Yet this time, and