Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1830-01-28

have means whether the notes tn cirru-
iation genuine spurious. Shall permit
States to all the b-n s which h derived from
the aud tear OF note Site confessed he did 10,
altogether agree with the gentleman from Frederick
In the views he had taken OF tho Bank Of the United
states. He thought IL in the power OF the States
TO check. In great degree, its Operations. Ia Virgil
MIA, Tor instance, had not less than 3 millions Of
backing capital Of Our own.-If We not TO have
any Of our own banks, would not the .tionai Bank
be tempted to increase Il. own capital and spreawith
greater effect, the Union!-Hs conf:ssel he felt
great Jealousy Of this Insituiion--hat wherever Il
had prevsiied, had affected the political OPINIONS Of
the people; that IL was too we'll known, wherever
the interest of many individuals their
principles liable 10 be changed Wac IL not So
whenever the lure OF Internal I:nprov men,s from
the hands Of the General Government, had been held
euG He had no idea Of permitting that great In.ti.
luton to operate uncontrolled; Of regulating tho whole
paper circulation OF tn country.--He contepded,
that pro2ar degree Of competition was necessary
sssoag banks as II was in other cases-that this sp
rite rivalry, would cause il to pay more prudential
tenlon TO its own concerns
Mr. X. then went into examination Of the condi.
ton OF tn: Bank OF Vrginia-hs said. il
der. that should have sustained some To- SCI, that
while commerce had Undergone many revolu ions;
while many Of the most Intelligent me clauts had
been shpw ikea by tina times, II was not surprizng
that with the best manag ment the bank should have
suffered In some degree-but fyou gave il time enough
% wind up lie concern, by extending its charter,
would be improved by degrses. Ens h,ened as I. now
by its own experience, and animated ny every motive
TO make the best arrangements Tor It's correct ad,nni
trstion, would draw in its debts, aud la dine timr
make good its capitsl.-Mr. r. showed the very libsra
which this bank has pursue towards the Com.
nonwea i--in the very heavy bonus IL had paid. He
showed why was that II could not give as great a
bonus as Il had formerly done& among other re.-
son., thd ii conll nor, while I, had part OF IL. own
capital to make up; that its situation Appealed with
great force 10 the justice and liberaity the General
Assembly.
SIR. touchs upon the tim, at which thi, m mo.
rial Of the Bank Of Virginia presented and tho man
ner In which the other msn,risis ha been offered
He stated circumstance to show that there was no
foundation Tor the assertion OF any Coalition between
them-tha, II was wonder, the other BAuks, whose
charters were about to expire nearly at the time
should present themselves al the same tin,e-But he
di.cAim.d for HIMSELF and he had ltl. d,t Guilty in
dong for others, the slightest und :andiur ami
tcosiion between these Institutions.
Dir. KERcHEvAL said, the gentleman from Abe
marie had been very unfortunate in attempting TO
nom.se the time Of the House by the motion he had
mads-as evident iron the time, which the discus,
sion upon ,hi. motion had already consumed-H. ST. t.
cd that the House had now been seven week. in ses
'ior egislating upon comparative rhcs. and for his
own part, anxious he was 10 return to his Fri n,s
aud constituents, he wiling remain here and do
the public husiness-Bdt were they to sp.nL 81 much
tim in small matters, and suffer this Interesting qu e
tonto be passed oveR He alluded to tn. rumour W ch
bad gone forth that there had been sinister and i'm
proper coalition between ths banks which had soueh,
Tor renewal II had been said, that the friends OF
the Bank OF the Valley had 20, up their applies
ior renewal, as a.ceraned al the apk
of Virginia intended TO apply for a renewal He ask.
ed how could that assertion bs correct when IL, stocl
holders in July last took for the Of
dts charteri
been given to the charge asanst the Bank of IN, Al,
ley OF extsrtionAnd ho proceeded 10 ask what voui
be m s'aa'ion OF the community, these Banks were
compeiIedto wind up their Affairs. II would withdra
three or four millions Of their pap. r. from crcula
ton; and A. had been shown by the gentleman fro
frsierck'he Other Bank would be compelled in self
ueencs 10 curaii :heir circulation, Aud how as ,b,
vacuum {, be supplied From the Banks of the o.h,r
Sttes-Thrir notes would flow into the State; and in
s'eau OF the 'oshd' wholesome circulating medium
winch we bad at esent, a. go,d itse in our
pockets, we should be thrown upon the bank, of otb.
state, with the character of which were less &C.
qnainted He denied the truth of what had br.n
charged about the mystery Of the H,nks-He Contend
ed That the private transactions of persons it'll then,
ought moi to be publicly exposed that no man had
right TO enquire into ihs which wer. present.
60 the Bank for discount
GSome conversation eusued upon a publication which
had Appeared in newspaper this morning. upon tn.
circumstances uni-r which the memorial from the
Bank OF the Valley hid been presentsd-In the cour,.
OF this explanation. Mr.. McIihaney, admitted himself
20 he the author OF this pu bile aon-,tapg thu, h hi
never ard oil the it-non TO present this moriaI
aud that some Others hcd not done so hence he had
taken up the imprr sson hit this IN mortal had beer
suddenly up. without the knowledge Of the stack
hodrrs.-Mr. Macon Of +. stated, that the memorial
had been prediratei upon 'oilion op,ed by IN.
meeting OF the Stockholders in July lat h AZ IN. ID,
reco OF the Bank had determine TO present me,no.
rial upon the strength of his resolution, and tb.y II
put II into his han to present to the Hou.s-He had
Con" so, ara he .id not see upon what principle o.
courtesy or exprdiency either. il due from him
10 the gentleman from Lou ioun (Air McIIlaney1 To
iuiorm him OF HE Intention 10 present il.
mT. bpfD gave history OF tn P.ion II stated
mat cifcua notices hid born addressed 10 the Stock
holders OF the Bank, calling meeting for july las, to
take up this qs'iicn tina, wa. regularly decided II,
the meeting; he uDIer the impre sson :b.t AZ I,,,
al0bs Of b. stockholders informed of hi. ami
caiiou-and that II seemed e him. if there were anu
iog-Iollins IN IN; way, IL would have Advanced IN.
object, by communicating the plan some NOR. of in.
Members OF the A'semby-And this circum.t,nc.
be though, VS. calculated TO dis ipate evsry eI.rr,
Of rolling.
Mr.. CARsNADoN stated, that h. had no, be.n in
formed 81 N Intention 10 bring Tor ward this ap,c ,tio
'h'th- was N, very friend to d inks hi,n.nn h
should vote ag'instne Indefinite postpone IN, MT & tina
MS we were situated, he could not ,es how we coulI
avoid having bnks OF own lar, az W. all ,uf IN
evils OF The fysiem We ought TO he permitted to mi
ssne ofits benefits.
Mr.. EPPEs spoogIZ.d for throwing him self nst I'm.
on the Poit of tn House, (for that he hal
rxP"rencsd) but their prIiencr, in making few re.
mark. in opp sion IN tn. petit ms of tn. Is ,nk.-Bu
he thought himself bound to present his cons 10
this confederation Of the House He dacI.r-d that h,
was not satisfied by the exhibits Of the B,nL
and wa. disposed TO doub, either the fact, which il b,
sddueed or the conclusions which they had drawn from
hem.-Hs then stated the positions which IN. R,nL
Of Virginia had taken in it. memori ,I-.nI di.,u,,J
the accuracy OF many Of them. For instance ,b.
Bank said that IL hal fJr 2J years CO npii.d viii
its charter, and fulfilled all its engasem.n,s-but b |
asked how this PROPOSE ion could be main aimed when
u bai formerly suspended specie payments lie al.
ude to their assertion, that they had contributed 90
much to Internal Improve menl; when the sock in
which our State Fund for Internal rnproy emsn, va.
vessd baf Deprecated IL per cent; and IL va, now
necessary 10 take two years Of its divdends to make
good the capital.
He remarked that the memorial not ootv e.o,,;,.d
q had. 1f..I. a