Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-02-11

FOR THE ENQUIREl
THE BANK OF THE UNITED STATES


The late proceedings in the Legislature OF Pennsyva
MAJ i'll regard to the charter Of the Bank Of the United
States, ure we'll calculated awaken the attention OF
the people OF the other States. 1t be apparent 10
the superficial observer, that large capital as
is contemplated for that great Bank cannot be designed
be employed in Pennsy alone. That State now
has upwards of forty Banks welding capital of about
twenty millions of dollars, and suppose that
Thirty five millions more Of capital can be probably used
in the commercial, manufacturing, and agricultural ope
raiions even Of that respectable and hourishpg Com
monweal If this additional capital be Prohtably
employed at hoe it must be in the utter destruction Of
most OF the existing institutions there 1t is pro-
bablc that the promoters Of The scheme look forward to
numerous affiliations in other States, and they Will be
enabled to endow many ofthen with abundant means to
carry on lucrative trade for the benefit OF the
concern becomes then, of deep consideration
with the other States, whether they shall admit within
their jurisdiction offices agencies OF this grand esah
shment which may interfere wth and greatly abrldge
the profits Of their own institutions AS sovereign States,
they have unquestonaby the power OF lnserd'ctns the
location of such offices agencies in whatever shape II
may be intended establish them, and the manner ot
introduction must rest solely with the wisdom OF tho Sc
vera Legislatures. Harmony in the commercial inter-
between the different States of the Union very
essential to the prosperity of the whoie but II should be
maintained upon the principle of the most perfect recpro
city Of interests. That Pennsylvania has the right TO
establish u Bank Of any capital she thinks proper will
be questioned but when she shall derive all the bene
fit of granting such privilege that bonus give, she
will hardly expect her sister States to permit the csta
blishlnent of branches within their limits without part
cipatng in that bonus This would place them in worse
predicanent pecuniary aspect than they stood in
with the Bank of the u ST. authorized by the General
Government nasmuch the price paid for the charter,
in the latter case, was shared BY all In regard to the
policy of the in relation to Pennsylvania her
Golf there NAV be difference of sentiment. The time
has been, when the grants Of such privileges round
sums Of money, were very fashionable in Europe and if
we believe m the truth of history we shall not select
those periodsas the most worthy OF imitation we MAJ
by the Pope as it tended increase the wealth Of his
lioliness's doulinious But in Virginia can take no
act as to the internal measures in Pennsylyania Az
that do, is, TO prohibit any lnermcouuns WIN
our own affairs and bellooves the Legislature TO see
that the Republic suslains dernent from this mon
strous project.
These reflections lead to remarks on the pre-
sent condition of Virginia in respect to her own banks
report has made the House Of Delegates by
committee of that body recommending an augmen;a-
ton of the Banking capital Of the Commonwealth, with