Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1830-02-17
.6c1stst ossD gGaSssa.
MORNING, FEB. II, 1850.
THE BANK OF VIRGINIA.,

Disagree upon a.certain amendment. The history of
the matter is ms follows: The House of Delegates
passed the bill, with this, among other conditions:
that the Commissioner Of the State, ITO be appontod
by law should have vote Al meetings Of the Stock
oders on all questions equal oaehiyd of all the
votes gwen at such meeting. The argument in favor
Of the condition was that the State owned more than
q tnra OF all tho shares in the Bank, and nearer
uali than thlrd-and this being the case It was rea
sonabo, 1t was but right TO give the owner of so
much OF the capital Of the Bank. vote one third
as great those Tho did own twothrds of tia,
capital. Another argument vas, TINT the State kept
large deposits in the Golfers Of the Bank and bv her
ownership of 80 much Of its capital and the favours
which she had it III her power to dispense, aud did
dspense contributed greatly to it's credit and success
and was equtably entitled upon this aud every other
score, to an agency in its gorornment as regulated
by the Stockholders.
rms reasoning appcars 20 our minds, of that kind
which is called self evident. Upon what possible
ground is the representation of the stock of the
State objected TO. at the meetings of the Sockhol
ders' Having stake in that Institution approach
ing half othc capital, is it possible to believe that
the interests of the people shall pull one way, and
those ct the private stockholders another, Is it nat
manifest, that what makes for the interest ofthe one
must equally, i'll profit g. lose view coniuce to the h
eTest OF the other, and rersa? WHY then should
tho proposition to give the State power coual 70 her
great and serious involvement in the fate of the Bank
Of Virginia. be objected 10? How can any man OBJ
Jec TO 1t, whose determination TO protect the pub
c interest," is para mount TO all other considerations
which may Influence his public conduct, Halt
awhile, reader end we will explain this matter. A
ale hangs by 1t, Of which You have as yet received
no lntmatIon. To the Bani of Virginia there is
attached President, whose salary is $4,000 pcr
ahnum. Attempts have been made bv individual
SocRhoiders, to curtail this salary, which Utev cs
toemed enormous, whether considered in regard 70
the salaries Of other officers, none of whom. the
Governor and Civil Engineer excepted, have 40
great sa!ary-or IN regard 10 the duties required
which principally were, to sign notes and iak for
| the Bank IN the policy of emitting and curtung.
and buying Bills of Exchange-for these embrace it,
whole policy Some wished this salary reduced.
bsc1use rs Republicans, they thought there ever
ought to be correspondence between the duties
fs"ue'eu' and tho money pail--others because OF
tus and for the farther reason, that the profits of
The Bank, IN which many ''widows and orphans. I"
(poor things!) were concerned, did not Justify the
the Presidents salary, having proved abortive from
the fact, that almost all tho stockholders we're repre
sen'ed by Bank OD2eerS as Proxies--who. their sal
arcs being touched unanimously took arms in each
other defence say private Stockholders having
attempted IN vain to reduce the President't salary.
though they succeeded, no doubt by the aid of the
Prortes, IN reducing that of the other officers and
even OF the porter, who had hundred dolass taken
from his ptance-this being the state of things.
when the bill for rochartering the Bank of Va was
under consideration, Mr.. Rives of Campbell, moved
insert clause, reducing the Presidents salary to
$4,000, and that Of the Presidents of Branches
(whose duties are confined to presiding and to sian
ing their names to bank notes. to $500 each. The
motion was ncgaivod by not a very large majority.
because it deemed best TO leave II TO tl,, stock
holdcrs-but the House of Delegates 10 prove their
sense of the matter immediately adopted the amend
ment OF which we have spoken, clothing their COM
missioner with power TO give the vote, which thew
wished given in the character Of stockholders, and
not in that Of Legislators.
The Senate returned the BILL with an amendment
denying the State the power of voting ON her shares
by her commissioner, but giving her the right to
bout 80 votes!-on number of shares exceeding one
of Delegates yesterday disagreed TO the Sonotes
amendment--thc Senate insisted upon their amend
ment-a7d the House insisted upon their disagree
mcnt. And thus tho matter rosts
In respect to the Bank officers, we respect them all
and love many of them but viewing Banks as insti
tuilons that ought to be watched, and the power
claimed for the State, TO which it's great in
tcrest in the Bank justly entities it, it seems prcpos-
ferrous TO us that it should be withheld because a
pessible consequence may be the reduction of an
overgrown and disproportiona tc salary.
The DeJric in The Senate. w publish this morn
ing, the FIRST part or Mr.. Barton's speech in the
Senate, on Foots resolution; the reporters at Wash
ngton not having preserved the order Of Debate.
and Mr.. Birtons speech appearing before several
Mossrs. Webstcr's, Bentons, Sprague's &c, who
preceded him. The first portion of Gen. Hayno s
second speech appears IN the National Intellgeucer
u. Lii. H.