Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-11-27

prepared LOT II ~ previous trosts.
The .3urOra Boreaiis which yhone with such brapcv
at ~ York on Tuesday night last week, was seen al
various places in the Moth though with mc variation
III the phenomenon 1t observed also at sea bel
BrSnn and Portland.
Ms. Van Burrh a,rIy paid vi. 10 M Rive. viii, Tho ~ ~
presume, OF EXPLAINING him acrl wh r. ,r,
compelled The ''puck.l' Convection Al lamo 10 ,; h
tr''o and eve VIC pref the here c
sii a. ui'" W" hope the E. received cue sails.
Misunderstanding &,c:i g,.e.r s0 ""' '"''>
he sulnr thing Is hncd al by thnsc d. cent Jnur,}s
inc charlottesville Advocate, and the KIM villa Banner
N"w These ingenious Editors are ali cut Not one word
was exchanged between hessrs. Rves and Van Buren,,
about the nomination of Vice President.
BANKS.
Norfolk. Po,smouih. and Petersburg, are asking for
Banking capital Movements making in KanawLa,
ParkerShurg In Wood county &c. &c, to the snrr
effect The question possesses great interest and im-
portancc-anI is expected 10 occupy great deal of the
time and attention of The next Legislature Of Virginia.
he tuinwlng is cHpy nithc Petition which is cir
cuating in this City, for the multiplication Of her Bank
ing facilities:
To tic Honorable the Srnte and House Of Delegates of
the State IF Firsinia
The underse ned menipralisls residing in the city Of
Richmond and it's vicinity, again beg leave invite the
attention Of the Legislature TO subject Of deep import
anc- only to themselves. bu, 10 the wlole Com
nonwcsth Believing that the interests of the Stute
and especially Of this city would BIZ greatly promoted by
augmentation of its Banking cupita they respectful
in this city and beg leave to offer Of the reason,
which have bruugh, them to this inclusion.
For many years past there has been located in this CT
ty branch OF the United States Bank, with capital Of
Que million Of enthusiastically the whole Of this amount
has been actively calculated much to The advantage of
the neican1lis and mechanical Interests Of the commun
~
The Charter of this Institution is about to expire and
II N generally conceded ,hlt il will not be rechareIed
The Undersigned deem it important to adopt some
measures to guard against the rlnbarrassnens which
must unavodaby ensne upon the withdrawal of so large
proportion of the circulating medium of this neighhor-
hood and they can think of 'ceH calculated 10
answer The purpose as augmentation Of Bank capital
established upon correct principles
Our Stale Is .nkS. as We conceive, already possess
nearly large capital would be pcrhaps prudent
or expcden to vest in any single insttu,iontley have
not however, IT is believed been able 10 afford for some
years past. such accommodation, as the increasing
business Of the city has required as considerable
amount of their funds has been loaned u individuals re.
siding in the country, whereby the agricultural interests
(concssedly allImportan) has received considerable
proportion OF the assistance that these institutions could
afford, whist the mercantile and mechanical interests
have severely suffered for the want Of such accommo-
lons as well regulated Banking Institutions might
safely afford
The profits derived by these institutions OH that por-
ton of their capital located in this city have Leen large
and we would respectfully refer their annual reports
TO prove that then capital has been actively and prudent
ly employed, and to shew that much larger
might have been used 10 great advantagp-n further
proof OF which, we would now suggest, that from the cir
cumstances Of the times, it appears incumbent Virgil
MA, to free herself from the shacklrs imposed on her
spirit by the want Of adequate Banking CAPT.
tai. which has made her tributary TO sister States
who are in great degree the importers IF merchandise
and the carriers Of our produce not from the want Of
enterprise in our citizens but from the want of that
communication which easily obtained in any Of the States
North OF US, will be by reference to their Bank
nS capital compared against ours whether with respect
10 population exports.
Ill, ,of R;ob =:
commercial Importance, and lis manufacturing interest is
also rising, and only requires the fostering aid of add
ona Bank capital, to The most sanguine expec
ations OF those who have engaged therein.
Much has been said charging our commercial citizens
with the want of enterprise suffering sister States
10 be the importers of goods, and the carriers Of our
produce which certainly owing entirely the of
that Banking capital, which is now SO abundant 10 the
North Of US.
Importation in proportion to our wants. and shipping
adequate TO trade, will BE- the certain consequence Of
liberia! spirit than has hitherto prevailed in regard
10 Banking in this State
The public improvements, which are of incaculable
Importance to the prosperity of the stue, also render
il important and necessary that another Bank should be
established in this city.
Under these views tappears to your memoralsts that
it can only be question what amount Of additional Bank
capita! should be crestrd-ow it should be located and
under what restrictions notifications
By documentary evidence laid before the Legislature
their last session. it made appear tina, the eleven
tine aggregate, exceeding that of the State Of Virginia
more than three and half times, and about three times
greater than that of guia upon comparing the az
gregate value Of their exports against those Of Virginia
and moreover, your mcInoIiasts think they have good
TO believe, that in the estimate Of the value Of the
ports Of the Northern States there included no
SNAIL portion Of the obaccn -four, &C. the growth of
Virginia
Your mcmoriasts would therefore, respectfully ask,
if would be wonderful under this state Of things, that
the Northern States should be importers and carriers to
considerable extent, to the State Of Virginia, and If ii
reasonable 10 believe, that the Virginia merchants
will do this business for themselves more Ii
bera policy with respect 10 Banking, Shall enable them
to do so Moreover, they confidently believe, that
more liberal policy in thus respect would have great
tendency 10 prevent that tide of emigration which IS now
DE- p0pulatiDg land from the want ut those facrs
md means, which readily obtained in the South west
rrn States, to promote agriculture and other improve
Inents.
Though is we'll known that considerable increase
Of Banking capital has been created throughout the U
States, within the year past yet your uenorIasts tuy
Of the dangers arising from spirit OF speculation
which might upon sudden and extensive increase
Of Banking will not recommend greater increase at this
time than the actual wants Of the country most mPfT
ouSy require. For this purpose, the amount of five mil
lions, judicously located, may perhaps suffice I'LL we
have the evidence of further experience in the SUBJ
ect Of this amount they would respectfully sug-
gcst that about onehalf thereof should be located IN
This place, by the Of the Merchants and hlcchan
les BANK. Win power 10 eStaolSn III o1SH
slaces in this State the Stockholders may con-
slider proper subject 10 the approval OF the General
Assembly; the remainder may be located with great ad
vantage to the interest Of the stockholders, and OF the
State generally in Norfolk, where also branch of the
United States Bank has been located and about TO be
withdrawn and such other parts of the State as the sun
dry memorials this subject may suggest and the WIS
dom of your honorable body may determine.
Your men,oalists beg leave further respectfully to
suggest as one Of the benefits TO the Commonwealth in
general from the adoption Of this measure, that cons-