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

1
prepared for II by previous frosts."
The aurora Boreais which shone with such brilliancy
al ~ YORK, on Tuesday night last week, was at
various places IN the North though with some variation
IN Tue phenoncnon IL was observed also sea etwccn
Boston and Portland
Mr. van Buren, la'e la.l v Ar Rvc with tho riow We
Compelled The y c Ss !. ~hr
til s sp nc pct s,s 70 the hero" Who
jtiosssry ia,siigeaser '' - 's '''
The thing is hncd at by those d.cen, journals
The Charlottesville Advocate and the IN. sl,a Ban,
Now these ingenious Editors are all out Not one word
Exchanged between NIcssrs Rives and Van Burcn
about tue nomination of Vice President.
BANKS
Norfolk, Portsmouth. aud Petersburg are oskna cr
BANKING capital Movements are making in Kanawbo
farkershurg, Qn Wood county,) &c. &c to the Same
ehet Inc question possesses great interest and i'm
portnnccand Is expected to occupy great deal of the
time and attention of the next Legislature. of Vr,nia
The following Is copy ofthe Petition which is now cir
cuinng IN THIS City, for the nult pcaon of her Bank
ing facilities:
TO the Honorable The Senate and House of Delegates of
ne State IF Yirgia;a
he Undersigned mcmoralists resid;no in The city of
nenio'u snu us vicinity, again beg leave invite the
attention OF the Legislature 10 subject of deep import
ance, mol only 10 themselves, but to the whole Com
monwealih Believing that the interests of the STATE
and especially of this city, would be- greatly by
an augmentation If its Banking capital they respectful
~ ask the General Assembly To establish nno,l.r Ri
IN TINS city aud beg leave to offer of the reason,
winch have brought them to this conclusion
fos many years past there has been located in this CT
tal Of
one million of Enthusiastically the whole of this a,noun,
mas been actively circulated much the ADVANTAGE of
inc mercantile and mechanical interests Of the commune
ty.
The Charter of this institution is about to exirc and
IL Is generay conceded that it will not be reclarered
ne Undersigned deem il important 10 adopt some
measures 20 guard against the enbarrassmrnis which
must unavoidaby upon the withdrawal of so LARGO
proportion of the circulating medium of This uc;ohhdsr
hoou, and they can think of ,reH calculated TO
answer The purpose augmentation of Bank capita
established upon correct principles
R.nts
nearly as large capital ii would be perhaps prudent
OF expeuient 10 vest IN any single nsuton-thcy have
NOT IS believed, been able to afford for some
years PaSt;. snch accommodation, as the increasing
business OF the city has required as a considerable
amount OF their funds has been loaned to individuals re-
sung IN Inc country whereby the agricultural interests
(coniessedy amporant,) has received considerable
proportion OF the assistance that these institutions could
afford, whilst the mercantile and mechanical n,rs,
have severely suffered for the want of such accommo
dat1ns as welrcgulatcd Banking Institutions might
Tho profits derived by these institutions OIL that nor
lion OF their capital located in This city have been large
ana we would respectfully refer their annual reports
70 prove mat Then capital has been actively prudent,
~ employed, and to shew that much larger amount
might have been used to great advantagr-n further
PROOF OF which we would now suggest that from the cir
curstanccs of the times il appears on Virgi
mia, to free herself from the sl,ackes innoscd nm cr
commercial sPuit by the of adequate ankinr CANT
al whlch mas made her tributary TO sister States
VINO are IN great degree the importers Of
aud the carriers of produce from the want of
enterprise IN our citizens, but from the want of that &C
"nich Is easily obtained in the
North OF US, as will be by reference the. Bank
ing capital compared against ours, whether with respect
ito population exports.
The city of Richmond is increasing in nonpat;on md
cohercia Importance and its interest is
also rising, and only requires fostering aid OF add
tiona Bank Sapal, answer the most sanqune rnec
tations oil those who have engaged therein.
Much has been said charging commercial citizens
WIN me want OF enterprise, in suffering States
10 DC the importers oil our goods and the carriers our
produce which certainly is owing entirely to the want of
that Banking capital, which is abundan, 10 the
North of us.
importation in proportion to wants. and shipping
adequate 10 trade will be the certain consequence Of
more liberal spirit than has hitherto prevailed in regard
to Banking in this State.
The public Improvements which are of incalcr labe
Importance to of the State now also render
inpo,lah and necessary that another Bank should be
established in this city.
Under these views tappears your nemoriasts that
can only be question what of additional Bank
capital should be createdhow should be located and
under what restrictions notifications
ny documentary evidence laid before the Legislature
al 'eir last session. made appear that the eleven
states North OF Virginia then Bank piia in
the aggregate exceeding that of the State of VIRGINIA
more than three and half times about three times
greater than that of Virginia upon camparino tho ar-
gregaie value of their xpos against these of Srginis
anu moreover, your menoIaliss think they have good
reason 10 eeeve that in The estimate of the value of the
exports OF the Northern States there was included no
small portion OF the tobacco -four &c. the growth of
Virginia.
= our Tsmoriaiss would therefore, respectfully ask,
u wonld be wonderful under this OF things that
the Northern States should be- importers and carriers TO
considerable extent to the State of Virginia. and if
ID not reasonable 10 believe that the Virginia merchants
WIZ DO TINS business for themselves as n IL
bcrdi policy with respect Banking shall enable them
to do so; Moreover they confidently believe that a
more liberal policy in this respect would have great
tendency prevent that tide of emigration which is now
dcpopulatng land from the want of those facilities
ana means, which readily obtained in the South west
rfn States TO promote agriculture and other improve
ments
Though is well known that n considerable increase
Of banking capital has been created throughout the u
states, within the year past, mcn,ornlisis fully
aware OF the dangers arising from spirit speculation
which might ensUe upon sudden and extensive increase
OF Banking viii not recommend greacr increase at this
time than the actual wants of the country most inperi-
ousy require For this purpose, the of FIVE mil
Mons, Judcously located may perhaps suffice till we
nave the evidence of further experience in the sub
Jeet Or this amount, they would respectfully sur
gcst that about onr-hulf thereof should be located in
tins place, by the name of the Merchants and Mecla-
les Bank, with power t0 establish Branches in such
places IN this State the Stockholders may con-
sder proper. subject to the APPROX. OF the General
Assembly, the remainder may be located with great adj
vantage 10 the interest Of the stockholders and OF the
state generally, in Norfolk, where also branch OF the
United States Bank has been located and is 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.
fonr fnemofalfss beg leave further respectfully TO
suggest, as oil the benefits 10 the Common wealth in
general from the adoption Of this measure, that conai.
aeable increase to her may be derived by the
imposition Of annual tax by way Of bonus on all new
charters for Banking aud the of such az may
from time TO time expire
TO THE VOTERS OF Louisa
Let 1T be borne in mind by you that George Harris
present Representative i'm tIe