Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1830-02-09
YIRGLNLa LEGLSLATLRE.

pIRGINI.1 LEGlSL1 LORE.
RE.CHARTERING OF THE VIRGINIA BANKS.
Remarks Of Mr.. MihOr IN the House of Delegates,
Onproposing the 'e-chdrtring certain Banks, Jan
D. 1890
MIR. SPEAKER should have declined taking any
part in this debate, bus representing in part County
in town inwhch branch of the Bank of Virginia /,
located feel it duty TO ms constituents 10 declare
the reasons which induce the am about 10 give.
shall vote for the pOstpOnen'eHt of the subject
This IL not the proper appointed time to up
on alters OF great or general Importance The peo-
pie who sent u here expect short session, and
tenon 10 local matters. great and important change
is TO take place in the of our state Tn.
ganic Law has been amended and made new The
Constitution has been sent forth TO the people: doub
exists of its acceptance. Great and mpor ant changes
follow in the municipal and general laws OH their
necessary adaptation To ensure safety in these mat
tiers, the people will not be unnindful. The f st e.
gislaure under The new Government, will combine
;he best intelligence, capacity and patriotism in the
State TO this body such important subjects ought to
be referred, and J, for one am willing hand them
over.
said our constituents ected us TO act on few or
general or important subjects. The long locked for
change was expected by ALL The old Government
was to put of its cOyruptOns and the one 10 put
on its interruptions Assimilating il 10 domestic lie
good and kind old mother sick and expected
de- We sent to attend her last II ONE nts soothe
her dying agNnies and perform with decent and he
coming decoTum the necessary funeral obsequi"s
Are we doing this! are we not on the contrary, like
greedy heirs, and unduyu Legacy hunters distur bling
her dying bed, with the juggling Of ,nOncv and In.
rafting Of parchmenis? We calculate on her weak.
ness, and are striving 10 get all that
The present times, sir, pregnant with mOs
strange anomalies and the ordinary politician stand
confounded singular and unlocked for Coalitions Ia
a distinguished body lately dissolved, combining mos
of the talents and ligsnce, and much OF the patr
otism of our land we have sectional Ields ana
local interests, striving for the mastery; and giving
vent 10 angry feelings and expressions, going nea IL
to dissolve ITSELF and tonvul,e the state. The Tighi
Of man. the rights of things, were discussed, devised
COMPROMISED. Wpr 5.ize
on as boundaries and our state almost made al
eided people, Gentlemen of high Standing and of un
doubted love of country talked Of protests, and ihrea-
tened TO appeal to the strength OF the Vest agains
the unhOly uuTpatiOHS of the East. Luckily for OIL
tranquility, the storm ha, blown ever-peace and goot
feeling have returned and trust shall Fave q
good Constitution, and happy and satisfied people
On this floor, and on these Bank we see persons who
could the rights Of man, readily agreeing
on the rights Of nIOney-Hefe mountain
TO divide, sectional interests TO distract the basis
mOney Is claimed without ceremony: anil asked to b,
given almost without restriction ask and it shall be
given TO y0u "knock and II shall he opened TO YOU
seems to be the language held by these concentrated
and closely allied banking institutions. Coalitions most
strange have occurred in other countries and in our
own; here is which only be traced to the re.
noreless agency Of money, which has truly been said
TO be all head and no heart How long have these
Banks been in this temper OF Sweetness toward, eacl
other? | well remember in 1912 when the Virgin,
and Farmers Bank, by their presiding offcers, me
mo alzed this House againt the passage OF law au
hOfiLing the notes oil The valley and North Weetert
Banks to be received in payment of taxes, and the in
dignGnt terms in which the western members denounc
ed this interference These feuds are now ended
firm and stable union seems to prevail. hope thi
House will bresk up hs Unh0iy alliance.
1t will be said here, az stated in the Committee
that the petitions of these three Banks to this House To-
ate.chAtsr is wholly accidental and unhnown 10 eacl
Other: and that previous cOrTespOHdence co-ope
ration prompted this simultaneous movement Al
this may be true. A friend OF mine charge,
with premedifoied mprowpiu. | will not call this
pTemCiii0ied 0ccidenL
Mr. Speaker an in principle opposed 10 all banks
This ophIon " the result Of much thinking: and
practicable Observation. will moi detain the House b.
any examination or investigation OF the principles OF
which they founded or conducted. Its enough 4
say they trade fictitious capital By fictitious ca
pial mean the issue Of bill notes be yoad the sDe
Gle capital 10 redeem them. Gentlemen NAV call ibi
credit Give 1t what name you will, it Is nothing mon
less than three paper dollars loaned out ON interest
and silver dollar at home to redeem them Tn
charters Of these three Banks authorize such issues be
You'd their capital--and by this trading on fictitious ca
pal credit are the Banks enabled 20 pay their hes
w expenses, and make dividends equal greater ths
the ordinary interest Of money? This privilege
peculiar and ezciusiUc. II IL what is not possessed
others 1t 10 grant from the fountain Of power
Is unjust, because IL IL exclusive. No good and equ
government ought to allow H. Viewing this subject
this abstract light deny the correctness Of IN
premises have laid down.
assert without fear Of contradiction that " insfea
Of fe-charters these Banks asked charter ne nc
90 there would not be Eve men In this House VII
would vofs them New ltvbta have beeu shawn a