Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1830-01-26
3S6rtset1 oeIU S9a 1eSW
TUESDAY MORNING, JAN. &c, 1880.

the report ofthe select committee to whom ha been
referred thc memorials of the Banks of Virginia of
the Valley, and the \ Western Bank, praying the
Legislature fer renewal of their charters The re-
port OF the Comm ttee las is said by vote OF to 81
was favorable TO the prayer OF the petitioners
When the report came up, Mr. Gmer moved to
postpone ii indefinitely. which drew an elaborate
discussion, Mr. Gimer and Mr.. Minor supporting,
and Messrs Rutherford, Harv;c and Mason of Fred.
opposing the motion. In favor CT postponemcn it
was argued that the present session was already
raascnaby protracicd that it had been determined
Ill consideration VI the change which inpended in
the fundamental law Of the State, NOT enter upon
general legislation at this session. that if this resolu
ton was proper III other cases. ii was much
swhere important peculiar privileges asked; that
the next Gene;al Assembly would be much more fit
than this, from the fewaess of its numbers. and the
more equal representation Of the people. to decide
upon so important measure, and to express the
pubic VIII, aud that as the charters Of alr the pc
titiuning Banks had more than three years to run,
no possible injury could result from the postpone
ment of the subject at this time. These views
were powerfully enforced by AIR. Gilmer, and Mr..
Minor IN addition, entered Remuneration of bank
ing institutions in general. On the other hand
1t was argued, that Ii the Legislature gave the appl
cation the go bye 1t would operate injuriously upon
the stakeholder and the public-upon the stockhoIder
because being construed rs an intulation that the
Charter would not be renewed, it would tend low
or the price of stock-ipon the Public, as the banks
would instantly proceed TO cali in their debts in or
Ter to wind up their affairs. The State it was urged
would suiier IN her corporate capacity, she owned
60 OF the Stock OF the Bank of Virsnia-and all
would suffer, from the reduction Of the circulating
medium produced by the suspension of tie bank of
virginia In reply to the argument, that the subject
had best be turned over TO the General Assem-.
by 1t was contended, that that Legsla ure would be
laooriousiy engaged in organizing the new Govern
rnen aud that as the investigation had to be made
and the question to be udjudcuicd by the Legislature
some time or other, that now as good time as
any other. The discussion is to be continued this
duy.
How the matter is TO end, 1t requires no ghost to
teii--for when dad money come off second bes
III any contest SIX years ago. when application was
made FOR the renewal OF the dharter OF the Farmers
Bank OF Virginia, public opinion not less decisive
y hostile than 1t is now, to the of the project
Iheh 40 now large majority of the Legislature re
hectes The opinion OF the people, when the question
OF renewal was first broached-bu the ranks of this
majority were soon Trimmed by the lobby and extran-
eous influence, which now then, will be brought to
play upon members in detail. The Legislature will
make wry mouths manifest little unrulness but
VIII finally yield to the skill of the anglers and suffer
itself quietly, to be dragged to shore. The peopie
indeed IN every section and with unaumity which
prevails upon no other subject, feel Indignation a.
ganst banks bordering upon abhorrence and would
IL they could, sweep them with the bosom of destrrc
t'oh-put the people are one thing and the Lcoisla
lure another. We will venture to saw from vbot
we Know personally and have heard that moi tyvent,
men, living IN the County of Henrco out of this CT
" can be found, who would consent TO charter tho
DanK OF Virginia, or any other bank-yet one of the
representatives that County no doubt ac,,nr I'M 70
his sense OF duty, is active partizan of that ban in
Its present application. We cite this instance he
cause 1t Is at hand, and because we have some know
ledge of the people of this County.
The circumstances under which these ba,le b,,
made their applications for renewal are worthy of
notice. All of the charters have more than tbr.e
years to run, that whether renewed nov. or
one year. or two years hence, must to them. be
matter of perfect Indifference. new Govern
nent, Is within IL months, to go into effect, which
all men admit, must in the nature of fb;nos h h,
ter qualified, and at much less cxpence, to decide
ing General Assembly, almost a mob Numerically
and iegisating at cost unknown to anv other MOO
PIE In addition to these strong and nuanswerable
reasons Tor delaying their application, the most dc
cS'Ve' The most unanimous repugnancc anirnates the
PUBIC mind at this moment, and has animated it since
inc oe'cct'on OF the banking cnormities in n Car
DINA against all Banks whatsoever One wouId have
imagined priori, that of all other seasons for ask
ing renewal Of the Bank charters, this would have
been the last which Bank agents would have volup
tary selected; that The public dstase of Banks So
powerfully excited prevailing with so much bitter
ness, and so much unanimy, would have been per-
United to sabsidc little, before the Representatives
OF that public were called upon to renew the charter
OF an expiring moncd corporation Yet this time. and
not another. Is the preferred. Why is this,-
Ihe sagaclous individuals who make those sppcs
TONS have not chosen their time in so extraordnory