Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1830-02-01


sion. among the p'opie- would affect the value
ofi,. stock. ~ The mention IN the President
M.ssao. about the Bank OF the tniied States.
had Affected the yslus Of itss'ook AND might
no, a great ppariiiy of theit notes BE- thrown
hack upon II, 90 he exchanged for specie =
M n said he was no advocate Of long ma
protracted SESSIONS OF the Legblntnre-unles'
there was .rce,ity for IL But he wcol d not
adjourn white there was sufficient business he.
before H. II was fir more Important 10 attend
10 the public business, than IN he ahle 20 20
home 10 their constituents hnd boHsi OF the short
session ihey had had lie thought the present
session was very well fitted for the discussion
ofthls subject. as 40 faw genera subjects hRd"l.
ready been brought before II % tbs neIt Lrgs
latufe would have great deal ri,e 10 do put he
new government into execution As 10 the
mys sries which bad been spoken of,hr could not
feel the force Of the fsmtik The iouze would
have d Joumenis before II drawn by men 81 IN
questioned integrity. 10 eume Their msa'ntr'-
lie thought diIfTeutl, from the gentleman rom
Abcmarlr-hsi there WAS so me Iecnlafny
~ tins question winch distinguished II from o
thers-thr interest wlich the people had IN this
que .tinn. rs well as The Commonwealth. ~
institutions. SO deeply Interesting ON various
accounts 10 the community He said very
little time would be los.-as the bill WIS already
dawn.
Mr.. Mno- said, represenlng a county IN
which one ofthrsc Banks had Branch, he felt
it du'y 10 hls constituents, 10 eIplHin the mo
tivrs Of MS yo,c.--lie Thought 1t suanRc, th"t
IN" Bauks should press lbrT claims Al ills time,
II they hrr going On "a well ~ they say, why
should they be anxious TO renew their Charters
aud not he content = ~ enjoying Their prosper
dv Snnicrot 10 day be the good or evil there
Of Mr. NJ remarked upon the wonderful Goa
iitlnn which prevailed on this subJeci-thht
while gentl men were di.aersping upon the
rig IS al persons, II snm" Of them wcrr threat
enin e protest they should be found ngrecing on
the lights Of property, aud The rrs Is Of mo
ney Some years SINE, the Banks n this Guy.
protested against our taking the Npies Of the
Western bar ks-anj now We hear mol word
of such complBints--bnt, on the contrary The
most cordial co operation between lhem--We
had b. en srnl here 10 nihd up the concerns Of
The Old Govrrnmrnf--an aud 10 bury her with as
muci decrncy rs possible We were mol - (,
INTO general matters but Ia hand over su,h
concerns 10 The next Leg stature. md the next
Government Nj, VI. then went nto general
remarks on Banking lnstiluions-their object
" 10 operate on fictitious Cnprl'-S. Mr.. VI
tempted TO shew the misCLirls OF suchan mstI-
titinn.-He would say nothing of tie orlgnal
charteflng nf the Banks gentlemen, hh Inge 3.
niously put il upon the footing. not Of n ne uOrO
establishment, bat of continuing AN old Is ab.
lihmeni But. he astod whether there were
Eve gentlemen ~ this HOUSE, who wound srnc
ton lie chaurring Of tins Bank, II i wffe no"
put 10 them originally. Mr.. VI. said there was
private capita runaeh. L. cAtIy GA the business
of Society. without Gu .Ing IL .ucn Intitmi us
They on, make the tawns wrrt taev me -
tablsbed, thrive aud II thrm with splend,u ,
but they did not rendr rquul hen IL 10 'he
People lie adniited that he bark Of VIr
gIEin MAS in much better condition. than
hr lad expected from he rumOurs which hHd
been al o |. and pul lished IN the newspapers
Ito Was conf i0nt, i,om the exhibits he had
seen, that 1t could wind ~ with loss Of ~"
not more than b pr cent - \ud thu situated,
instead Of Containing the insttu'Ipn, heF was
anGiDns 10 see II wound up-As she us 50 near
the port, he vshcd ker 10 be Brought IA aud
chaned 10 the poit. lie thought II high tune
10 Mud up one Ol ho>r las'tulIou. \ sd,u, he
contend, Il that this House had not TIM 10 asrrr
taIh whether the Banks had made sUoh an I'll, r ol
sufficient Bonus =, ms The Commonwr allh had a
right 10 eIpecl for the privilege il would grant.
The. now "lrred bui bper ccut,on zach share.
whraias some wears ago they lad Il en- as
mncb a 20 per cent. lie conf ssed. ne was
On principle opposed - all Bank though
iurmeris h" had been deln ted by the sr en,lrd
VISIONS which had been once entertained on
this snhjeG' but he had pSid deeply for las
Il lnHon. md Suffered hv ihcir Institution. lie
referred q the Banks OF the Valley ~ admitted
iIom her exhibits thai She WAS la good sriu.
| alton but tor the privilege th,eh shf had
-S'd. sh. had offered less than II Ms worth
iisr mftkcd also upon he prom ing -i,pa. ion
o the Noru Western Bank-ani on, udri
With hoping, hat the abHh' qu,, u on wuulI br
laid over 10 the next Leg ,la,u,e Me rcsoln-
tons he now indefntelf postponed
| NJ llaTvie did not feel the force of the ar
grmens which gentlemen had broug LIT forward
| I ndrfi1nr uusponement--AS - the short
g slons, which ii was sniI the people expected,
/ hr said ihls had been the cry for the last eight
years. mud yet we had never had one As 10
| the argument that va were only sent here To
d the necessary business OF the peoplr he
a,ked what business Wns more important tlAn
ihiskery question o. the Banks He explained
tue cius", of the delay which had taken y ace
Ia the apple alton OF the Bank Of Virginia
that abe Directors bad no autnorIiy
10 apply for rcnrwal-and that it was necessary
- van for I've meeting Of the Stockholders
ten i"men complain ol want ui time--hut he
conended that this House had 49, much time
l. nnt more, from he absence of all other gen.
etal business, as any othtrsosslon would ever
tam the necessary IN formation here and sure.
" gentleman were not prepared TO appoint
onihul rrs 10 @ over the whole Stale aud
examine all the Btanehes.- Mr. IL. then pro
ceeded To show the interest which the State had
~ The Bank of Virginia for instance, 79i
shares belongng Il thr Board of Pubic Works
1916 10 the Ii erarv Fund, aud 80 purchase ,
out al The hnposabl- Funds # the Board OF
Public Norks-m al l0,29l shnres-and 65f
shares 10 corporate bofirs the Crnclnnarfl Fund
&c. lie also stated the large number of shares
belonging 10 widows and orphans, aud he
asked whether the House was prepared Ic
affect The value of this stock by the delay " hict
would arise
Mr.. G'lmer rose to say that Tor the purpos,
OF obsat'ng some OF the objections urged N
his motion, he would vary il so, as To lay the
Resolutions on the table with an understanding
that they would not be lakenup during tn,
session.