Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1830-02-04

mysle,y Il which the gentlehian spaks -
Ntfre was tht proof IN which hs bad pro.
dueedi The gentlemen indeed peaks of the
foreign notes which the Bank ol Virginia pos
scsses IN ia Golfer ---of he anlTnpl bsnks Of
Rhode Island, and TIE Rabbn SKINS oi Ohio
and he eompia ned thatthe Back d dis
daned In show thsr real ebaractef Blu Mr..
NJ asked Whether III. gtntlrlnan himself had
no dlsdan,d Ia ash the Banks for the inior-
natod he had desired Inc Brnks nonldhayo
givsn the Information apd IL ths3 had not,
then eoud 4 have betn time 10 complain OF
then MISERY Bui Mr.. NJ stated thai thess
notes were issued by solvent Institutions hat
thcy were convertlbie into gold and 81 yer,
instead of rnhhn.skins aud without attaching
implicit confidence 10 The statements al the
Backs, he had 10 hesitation IN believing the
inot ma,ion winch he lad given. A. IN the
reserve which was Irnctisrd with the Books Of
the Banks with The ptisnf' accounts ul its Gus.
! toners could any man expect them to- betray
/ the accounts al ihrr dealers Would any
merchant Inv open IL the world all his hanss
actions Would hr have 40 little disc iion
nv 10 rntr,nt hrs affairs to n Bpnk. who oud
lnl open all ~ pecunlars transaG lions Ia ths
world AID how then an the gentleman
expect from Tho Bark such nm exposition, ~
would enable "s to judge of the solve ey o'
MI II. dealers AID In" valIj,ty al Nil us debls.s
Mr. Ms ID tat such nj never could have
been 'ute,tured, hui ION The suppas fun. that
The Bhnk belonged entirely 10 tn Common
wealihi thai 4 "ast n'rrly n public lnsiln
| ton whereas II shonld b recollrcied that !
was own IN part hy uifnfc individual.
i whose capital MAS yrsied III tue Bank. Nh NJ.
concluded nth hpoiog izIng 10 taking up So
much oi the inc ol the House, aud reminding
iham OF thr !, conyre fence, aud injuries which
mig bt result from a refusal To renew the char
Er
| Nj. Rnlhcrio nd stated, that if the House
| had permitted a bill 10 be brought IN, they
would have consulted the economy II time
aud hc regretted thu the question had nor tn
ken this cnar-e-Iie declnrd going into the
POLICY oil Banking lnstiiuiions III the ahsII att
| for, situated rs we are. in the mdst o. The
Banking Instlln' zoos ol other states, ,ht ques
ton was material, changed. II SEEMED ow.
thai W. acrr not destined 20 have sp,cln
Medium And il Banks arc 10 east. shut NO
have iusiiiutIuns of our own, or be depf ndent
upon those of nthcI States Shall W. have
40 means Of judging, whsih' thr notes In cir
culsiiun are senulne, OF spurious shall We
permii Other States 10 secute all the be fits
which is derived from the wear and tea 81
notes III confessed he did NOT n to- her
ARE with ID. gcnle man from Ffrdrrlek ina
The viows he had taken II the iauk of the Uni.
ted oiHirs he ihonght II was 10 TIE power
of lhe Suites 10 chick, in great degree. iiz
opera ton H. Virglnia, Tor instance, We had
not less than 3 millions OF banking capital of
Our own. II we were aot 10 have any Of our
own banks, wou'd MT The National Bn X be
tempted H. increase own cnpi j aud SPREAD
VT grcairt ed a. oyri la Ununi--la cnn-
| tossed h. toI' giea' jealousy oil this inhlinuon
that wherever IL had pfcvaned, Il had affect
ed the political opinions Of the people tina IL
WIS too well know u, wherever the .ntefrU Of
/ tnu -, w - HI
pies we,e liab TO be- changed. Was tn, 81
wbenrVer the lure II internsl Improve Its,
/ from the bands f he General Cove nmeut
| had bceo held ont lie had no ,dr, - per.
nlttmg that freHi insliIuiior 10 operate uucon.
| tlolled--af regulating ihe whole paper eircun.
ton Of The country. lie contended bd II
proper drgree of competition was neoes sty
among bank as II MS IL other rases-ihAt this
! sp,ft # Iivhirp, would Gauge II Ia ray more
prndrniial auentianlo Ia own concerns
MI H. Then went int. an examination of The
condition ~ IN Bank OF Vfguia- shi il
was ne wonder. tina ~ should have slniaed
some 'ossrs Mat whit commerce had nbdnr-
gone 20 many ~ lu'iuns While 80 many u
the most lntellgeni merchants had bren ship.
wrecked ihr unies, II whs not sup sins
that with the hes Ian gem nj the bnDk should
have suffered IN som" deg'"e--bui II you gave
! It time enough 10 nnd np its concerns. 10y 4.
|
degrees Lnbghten'd rs II nov Is byrs oWn
| oxpelIence, and animated hy eVetY moi1,, 40
make the best srTaagcmt uts fot lis cone, adi
ninIstfatIon, ~ Woulu dIaw IN dents 100 IN
| dn tim make sood It's en- Ital Mr. ell
tbc ver, hb, raj course viii, II tbi. bank has yur.
sued 'oNard. the Common Nralih--iu The very
heavy bonus IT had pan lie showed Why
/ II was thai II roujd not give = gent bonus
noe rs u has formerly done--& nnong uther
/ a
Of lis own capitals make up; hal H. situation
appealed NJ great lorce 10 the justice x liter.
ally oi he Gene ~ Assembly
Nj. L., ouched a. on the llme al whic this
memorial OF he Bank 81 Virginia wa ,tl.s at.
ed ~ the manner in u hich TIM "the, memorials
had been offered lie stated encums acctf
10 show, there was no foundation iot tie asser.
ton OF any Coalition bctwesn em-thai il was
no wonder, the other Banks, whose cba tens
were about 10 expire yearly al the sam t,me
should prrseu themselves al the same iiae--
Bu be disc,aigcd 10, INNS II and lie taa title
diff uliy oing tor others, the sttE btest
understanding aud coaillon between thrs, in-
stitutions
M. kerchevaI said the gentleman from
Abe, ar.e had been very u fortunate 10 1t
ten log To eronoms the tim, of The ot.e
the M lion he had NADIA, wa. eytd n - n,
the hns, which tee dis, uss,ou up #His m,-
ton had already Communicable stated fbal The
House had now been seven weeks 10 session,
leglslailng upon comparative tribes, aud ior his
o~n par, anxious u he was 10 return home TO
hi irien's aud constituents. he WAS will ng 10
roma here and d. the pubic bnsne But
we're hey To suend SO mnch time IN mail mat
tiers. aud suffer this interesting question: IN be
passed over lie alluded 10 he Tnmour which
mad gone forth thai there had been .ris,er
aud improper coalition between the Banks