Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1837-01-14

tn aiuc Of bGik holes cG;i.d l!c kc materially varied,
81 long as specie ahunGau in und, and the al
fairs OF the institution ordinarily well managed
and the credit too. al Tic banks, would rest upon
broader spccie foundation. ....
The reports Of The committees Of the last and prrsent
Legislatures recommend increase at the bEnkIng Gu
piia of the State-raG r,iic opinion nu;hnEzing (asI
beiievp) uderat. increase Of State Banking capital
the mode in which it should b. ccnc has elected tie
fore going elections, which will b. hr,g ht tn elise hy
few further remarks. the Of the cor:al Of Tie
United States Bank, now Withdrawn, srru,s l." Pruvr
that capital lc us.d advantagruuay, und this
can te Einir ra restored by giving PioEt direction
to THIS States pTapar ui !he surplus; Tor, II Ibis
ney wrs na the present hunks III TAR ra- u
interest," VIZ: per ccn:.) w.th the p'ivgr to He
banks If issuing paper upon II 10 some tq:itaL!c extent.
consistent with the power now possessed by them
their OH gina stock in issues, not only would the Gum
withdrawn Er restored, but still larger amount; whilst
the annual interest could be applied TO any purpose The
wisdom Of the Legislature might suggcstas !-sscning
the land tux iuriherng internal improvement, edu.
cation &c; and whether this surplus is ever reclaimed
or not money may be borrowed upon without loss as
ndriduals may sill be found who would be now pleas
ed to lend their money 10 O Virginia at per ccnun,
thereby producing much is loaned 10 the banks,
which can be USED for lun, and well defined period;
and which, in the event OF any future demand the
part of the United States Treasury, &c provided for
(possiby) ty the pohis OF the schemes of internal I'M
plovrnlcn To which the money is 1ppled and it
is safer infer that the surplus will be reclaimed the
United States Treasury has certainly the right do
this Stue, having set it example by pressing the
demands (Gpon Tic Treasury of the United Sates)
growing ct tic money transactions Of the late
1t is true, that public credit might command the
amount OF the surplus in good times; but it is NEST
probable that The demand for restitution would be
made only ut time Of some national pressure for
funds growing out OF circumstances, likewise press
ing upon the private means of citizens, cssenns their
power OF investing money in the Stale funds. You must
then resort to taxes to BE- instantly collected, and
most iEconvenent time, procure loan from banks at
high premium suffer tic credit G! The Stale TO be in
lurrd; whereas ii you lend the money TO the banks you
throw the obligation upon them CT raising the money
when called Tor, whilst the Stu.e receives equal
amount, borrowed upq the faith of the per cent paid
by Tire banks. and continued during tie pleasure OF the
Legislature, paid by some profitable investment Of
STATE Improvement. BY pursuing this course, the
plus money of p United States may be udvanlaneru
Is used without farther injury than What is likely
suit to our political morals and as Is conn hope
rs wei! as best ntcrcs, thai! money may be here
after taken from the pockets Of the people than the Uai
led States government, economically managed. may
qu;re, We shall not in all probability be much wors,ed
But il You adopt any other plan OF raising the Nancy
vast injury may be done The additional If one
ar! half two millions Of dollars, added 10 this in
of the stock o! banks from the surplus
would be sufficient ~ lis proper distribution among
the branches Of banks and tie mother institutions
for these tnas Of up:uarioIs speculation; and
certainly cnough when money, labor, and lncrchan
GZe back to their orig iEal standard valuation
in the time. the increased value Of gold vii! ensure
supply OF specie to fiji the place of the small notes t.
be withdrawn. 1t now only remains for me To state,
that if TIC barking capal must DC Increased 10 strength
monetary djcnc's, it should lie done by limiting
the Of the present banks to dollars and upwards
Immediately, and 10 twenty fifty aud upwards soon
as the L,lisatIr. mty direct, by nlnug the surplus
money "f The United States, Deposited in the Treasury
of Virginia to these bashs with banking privileges up"
it, for which they should pay fair interest," and giving
them additional capital uf two millions Of
stock, with extension Of the charter OF each for ten
twenty years, under the usual proporonatc bonus.
bp cd bt
the S;acs-and by Mtm The State would avoid injury
from the restitution Of the surplus, and al
nence system that would give Increased stability TO
| the character Of Tic circulating medium, and general
confidence to cur monetary system, which never be
attained BY 4 currency issued by small independent
| banks. UNCS POFULl
| BuehiHslam January, 1851.
FOR TIE ENQUIRER.
To tie FocrS or the Congressional District compuscd Of
The counties Of (nroiinc Essen, ki"g WiHism, hing
d. QUtca art .ftEdiesiz
it Will be recoliected that time since, meeting
called in Middfsrx, by portion OF lis citizens
friendly tie present Administration, which convened
and adopted prtanb!e and resolutions calling The
lrnlion of the district generally, to the importance of
selecting suitable individual Of their political com
plexlon to he voted tor at The approaching spring election
10 represent Us IN Congress- All the other counties I'M
cdiaely responded by calling meetings and appointing
delegates 10 convene al fappaannock in Essex, the To-
cation fixed on by the fret cnnty moving in The matter
They accordingly the th of December last aud
the result Of lhcir abors III general conventions
! the nomination Of Archibald Harwood Esq of King
and QGcen, in the Senate Of Virginia, the gen.
teman best qualified, and mos, likely 10 he acceptable
and agreeable c the democratic Republican party.
! have great ven.raon and respect for the old maxim,
"uni'ed we Stand, divided VIC fall but cannot give
my cordial assent 10 The proceedings Of that meeting. in
a$much am inclined TO think it did not fairly reflect
and represent The wishes Of large majority Of tie Ad
mnistra!icn party reside nj IN those counties.
| do not wish 10 be understood as disparngIng the
claims merits Of the present nominee for this elevated
stutcn but at the time: must he puTGoEed for
saying that frnm all the information gather it is
my candid and deliberate opiaon, that John NJ GsrEc,,
| E:q is the who ally and unite the forces Of
the party effectively and successfully against
Wing opposition, land there will be onc) than any
oth"r in the five counties
think too ha! the party in the district, 10 which he
belongs; Mr.. Garnet large debt Of gratitude itr
| the consistency, perseverance and zeal with which he
has defended and sustained the Administration against
the Vaccinations, misrepresentation, AID unmered
! abuses cmanaiing from The Antics.
Mr. Garrctt is also Of legislative experience,
having served in the State Legislature several sessions
besides, competent judges award to him high Abilities
great fund Of genera! information. political reading and
research.
would Cor these reasons modcstly suggest the pro-
pricty of calling another Convention al such tine and
place may be agreed upon FOR the of canvass.
ing closely and generally the claims of Mr. Gar
nett
would say, that Caroline being large and pcpulous
county, ought nd from u TO ~ delegates taken from
the different sections and each other county in proper
,ion according III The number Of her vo!ers taking ga
rolne the standard. AN ESSEA MAN.
LOWS, 9Th January 1887.
COMMUNICATED.
CONGRESSIONAL CONVENTION AT TAPPAHANNotK:
At convention oi Delegates from the Congressional
district composed of the counties Of King Il Queen
King William Essex, CarollEe and Hliddiese1, held at
Tappahannock Oh 2Gh December, 1886. pursuant to pre-
vnus notice. for TIC purpose Of recommending su'ta
bic individual the candidate Of tho Republican party
fart he CoDurpSS. a Nj,
was called to the Chair and essrs Henry Tyler Of Ca
r.l;nn md w R,nndhns &c Mhdlrsrx nnnninlrd Sc.