Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1837-01-26

ing over the mountains mud rocks 20 EofdohsFlie, VIII
find no difficulty on the Ridge road, through the "Wll-
derness," 10 Newark. The Louisa Railroad Company
will find al Improbable investment of their funds, IN
constructing this "Wilderness RaiL.road, and the lnha-
bitants above GoIdonsvIlle appear 10 be quite indifferent
about contributing any aid, except the representative of
Orange, who furnishes no means except "words,' which
is not 'curTenl coin" in making Railroads.
Our energetic President gave US a speech on Tie Sno'
ject, last Louisa court. He recommends Ia Inc SUCK.
holders /" submit To The amendment and UT 'lr cash. J
for one will not 20 with him. consider IT sri'ins ~!
rights. |! they have their price, The Leg's'ainr"" ~
ginia car""t pay it. humihly conceive. ti:nt n cur Pre-
siden, had !r!l out The latter CLAUSE 81 his rnrIi"rlal to
The Legislature, and fcnaiT;i at home "Irii'g me last
thirty days Of cold weather. il would have been heiirf
for his health, and the Louisa Railroad Company. ms
zeal appears 10 have brru t"n great for has Judgment.
| conclude with a passing advice. Don't sell ynur
stock f"r less than par: ami be- careful whom you d'pulc
ynnr Proxy. 1.-THE Elur.iai! Hawk IS upon The 'op.tnCs;
IiIai OF ~" old tier." "IVhitc uian berry unsarlaIn.'
a SrotX HoLuER Is THE LOUISA RAIL r"Ap.
no THE EDIYOK OF TIE Enquirer.
SCHEME OF a BANK.
] shall! not go into detail; but will state my leading
features.
Ist. The stockholders are never to divide more than
u per cent. per aInun, the excess to 30 10 Tie Slalt; III
lieu Of Il bonus.
2i. The Legislature to alter or abolish the charter al
pleasure.
OBJECTIONS.
/. On the part of the Stale, it may he said that no
EXCESS would ever be madr-ull would hc swallowed up
in salaries and extravaganza. To this answer: =.
LIST. That my scheme secures the highest degrec o! IN
trgrity and fidelity in the administration OF The Bank.
I'd. a muiety Of The Directors Of the Bank "ilI he all
additional guarantee.
Sd. If these reasons should prove insufficient, then
lie power Of the Legislature can he cxritct and will be
effective.
/. may he objected by individuals, that none will take
stock with such 4 restriction upon its pr"iils-lhat they
lock fur larger naius. 10 this, answer,
lst. That q per cent. is the awful interest OF the lard,
and that il is not jud!cinus Or wise, To secure 10 any por-
ton Of our citizens exclusive and usuIluus gains.
"a. That 4 per cent. OH capital Is u better profit Than
is ordinarily realized.
Sd. That the State loans are usually effected at an in
tc7cSt OF D per cent.
ith. Tina, the Virginia Bank has mol annually derived,
since lis Incorporation, but little over an average ri I
per cent; and lie Farmers Bank: for tie same tue, not
quite . IL per cent. per annuH; ~hicll, as Tar as expert.
rEcc gurs, proves that u per cent. should give cHiiFe ana
Complete satisfaction.
Arain The power retained to the Legislature. il may
be suri, is !nadnIrsSiblc. 10 this, | answer, have no
doubt that the Legislature have the power, without lis
reservation, whenever It's exercise is demanded by the
putiic intcrtSts; but AS a different idea has been. 10 Il
great rNtrnt enlrridlnpd. IL is retained ~ express terms.
rs Indispensable, Ia Il laithiIl administration "t the Bank,
and il proper security Of The interests ol the Stale there
m; but to obvlate the objection ti'at the Stat may prag'
nll'Icai!y interfere with lie interests OF HE Bank; letlie
Stale subscribe half The seek.
ADVANTAGES.
| assume it as 4 clear proposition, that Banks. admins
tered with common intelligence, prudence and integrity,
would easily divide, not ouly q prr Ct, bat pay Il cnusI.
derailc excess. The Banks above named. have s'st"Imcd.
undcr that worst Of PASSIONS: the lust ct gain, iIriIIeH<r
lusscs-Eavc paid heavy bonus IN the State, and yet have
divided the sums above stated. By taking away all temp
,alions t. over.tradc, and inlusing into the administration
Of the Banks, uniformly good moral principles, The van
to individuals would be fixed and certain, and cpu!d MT
be otherwise than considerable 10 the State. The aGvan-
lages. then, are
LIST. \ nearly uniform market pricI for the s.nci;, sup
pressing thereby all gambling in st0rk. and providing
sale and permanent investments Tor females. orphans and
old men .;iired from active life.
%. Certain Of realizing for Individuals The naXimunn
dividends, he bank would be under no temptation /"
it would be under no necessity Of issuing notes under
fifty dollars, and would, at all times, keep Oh hand Il
healthy supply of metals.
Sd. 1t would enable The Bank to keep ont uniformly.
or nearly so, any given amount of note circulaiion; Illus
Iabrur, an unsteady currency. Its sad by learned VIII
lcrs on the currency, that an increase or d c'la.e 81 o'e
million Of pounds, in the note circulation OF the Bank
oi England, affects the price Of property t!lrnng!ioui that
Kingdom: stability, rs near rs iily be. is, therefore, o.
vlousiy, Of the last importance.
4tI. 1t would greatly Facilitate Tie approach to that
long abandoned, but most desirable po!al, III me cur
Grncy, which separates The Consumer and HE D'a!rr-
Il point, at which paper and metals may S"jdy ana "se'
Jnhiy divide.
lih. This system being under clearly the action oil a
rurd srt uf moral principles, aud ope rated under due and
proper responsibility, would command uhflaI'Ird coHi''
drncr.
All which is respectfully submitted fo1 The public c'n'
sidcrau,o". by EXPERIMENT.