Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1830-01-26

IS e succeed it, may isds DC mansxed too--bu, The
exPcrmcnt has to be Hlado and tnr wal, be sewcr IN
numbers possibly more Intelligent. aud will certainly
represent the peopissnorc cquoiiy. Does any NAN
imagine that these not the considerations which
procured the prcsent applcAlns. st 30
a"me both rs resardsths, period Of the session,
tue state otth country just passing from one govern
meat to another. and tina, length of time which has
to elapse before the expiration Of the several char
ters' II the Legislature feel tina, any aisrrspcc, is
p'd 10 them M these motives. Let those be blaod
vino actca upon and not US who merely state them
eorec'ara''y indeed but with firm and unaltcrablo
persuasion OF their truth. Why is it, il there was
not particular pnriaty for this Legislature arising
on' OF the considerations stated has the eonutfynot
only oeen put TO the extra and needless expense of
considering the Bank applications at time when
ho'h'nS IN the exgcncy of their cases required
oat thcy nave also doubled and trebled teams upon
the Gcnetal Assembly, Why or how is it, that the
Bank OF Virginia, the Valley Bank, and the North
Western Bank, have all their charters expiring nj,
different and distant dates come upon the General
Assembly at the same unexpected and unpropi,ious
momene Is there so hard Of faith, as 70,
oeheVe that his concurrence he effect of acc-
dent, and not the result of deep and Calculating
design! We have been assured indeed, that there
was no understanding between these several corpo-
ra'ons IN making Simultaneous application and to
og-roll it, aud have no doubt Of tho truth of the
statement so fur rs the Bank Of Virginia was con.
cerned. But if there was no interchanped under.
standing between thcm-if thore was no concert, /.
that combined movement should be made, in order
to enlist the local friends of the one among the nd
Vocates OF the others, and thus to get them all
through, upon the common and universal principle
OF gift gait--t is still evident, that the common
impulse Of preference for this General Assembly,
must have influenced all. Again we say, if the
General Assembly does not feel itself particularly
battered at this marked and most condescendinr
partialty OF the three Banks for them over their
successors, let not us be blamed, whose humble pro
vince It 49, to trace public movements for the infor
nation OF that portion of the community which
depends upon us for intelligence. ... 30.
AS for the arguments in favor of renewal nj,
this time, we amazed that ona so en-
lighted as Mr.. Mason, should have cmploycd
them One was, that the applications having been
made to postpone them would operate as rejec-
ton on the mind of the public, the consequence
OF which would be declension in the price
of stocks. This argument would have had more
force if used in favor of granting perpetual
charter. But is it quite fair in the present case
when these Banks having made most unrcs sonable
demand for the renewal of their charters that very
circumstance is to be used argument for yield
ing to their pctition' Another argument was, tAat
the State owned much of the stock, and would ana
tain loss from the refusal to extend the charter It
was stated in tho Course Of the discussion on author
ty, that now required to settle. the Bank Of Virgin.
ia unnl1 ho IL,
Suchis the issue of its operation for the last Is or
~ years, embracing portion of time of uuparslled
prosperity Curtailed of its Legitimate extent and
responsibility, as banking is. from the influence
ofrival institutions is it probable that the future Cd
eratons ofthe Bank of Virginia ever enable it to
make up this deficiency, pay dividends of even per
cent and restore every mans hundred dollars to
him. Nobody believes it--nobody can believe it.
Instead therefore of the interests Of the State ro-
curing the renewal OF the charter, they plainly arc
to withdraw its funds from losing business, and in.
vest them where the principal will be more safe aud
more productive.
Were not the officers OF the Bank of virginia six
years ago, decidedly opposed TO re chartering the
Farmers Bank? Did they not then argue, that ons
State Bank was sufficient for all purposes-tbat tho
cessation Of the Farmers Bank and the calling in
paper, would have no influence upon the circulating
mcdlum-and did they not furnish argument. or
hints at least, to certain speakers who appeared On
that side OF the discussion, to this effect For our
own part too poor to have any personal interests IN
Banks-knowing well from experience, their love of
revenge, and their ability to infict il. yet too proud
to shrink from it-above all, believing from the
bottom Of our souls, that they are tar the Inaui
stion, the most aaboica inveniioi that ever
plagued tho human race-wth the further be
lief superaddcd that contest with them is hope
less and that they fixed eterpaly upon the ncoks
ofthe people.-We still now, as six years ago, raise
our voice as one ofthat people, but knowing il to
be the voice Of vast majority, against their orgi
nation. renewal or extension. The Bank of the u
States evidently approaches the end Of its career
and If It is evor to be expected, now is the time to
begin root and branch examination Of the whole
progeny.