Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-06-22

The Joint Committee Of the Senat.
and House Of Delegates. CHARGED bv
the JOINT resolution Of the tvso HONE.
70 inquire. &C., have. according TO or
der. had the same under con.idsratioo
and beg lesve.to make the FOLLOWING
report
The Committee have received from
the officers Of the several Banks /.
statement Of their respective cond;-
ions ut the dates indicated bv ,ho,.
statements, and have sought and OBJ
tanned Information from some Of tho.a
officers. and from oshe, sources 10 ,n-
swer TO sundry inteTosatoaes-the,a
statements. interrogstories and answers.
accompany this report. To save the
delay that would attend detailed rs-
port, the Committee deem il expedient
TO present the information thus collect
cd IN this form, and to embody the
conclusions which they think that in
formation warrants. in the following
resolutions
/. Resolved, That the several Baaks
Of this Commonwealth. which have
suspended specie payments. consider
ing the circumstance Of overriding
necessity. under which that resolution
vas taken, are not justly obnoxious 10
eenSure for having adopted IL.
2. Resolved, That in the opinion Of
this committee. the solveney OF the
said Banks is free from all rational
doubt. and that there is just ground to
believe they will be ready 10 resume
specie payments. when The Banking
Institutions IN the great commercial
marts Of the country shall do 90.
3. Resoired. That provision by law
ought to be made 10 relieve the Banks
and community from the effects that
the suspension Of specie payments,
under the existing laws, has on tbs
charters and business Of the Banks.
Mr.. Stanard suggested that the two
hrSt resolutions Of the Committee be
passed over for the purpose Of attend
ing to the third.
This course was adopted. and the
third resolution was read and agreed
TO. The Committee on the part Of the
House, was directed 10 report bill ac-
coFdingly.
Mr.. Harrison offered the following
resolution
ResOlrsd, That the Select Commit
tee on Banks collect and have printed
IN convenient form, for the use OF the
General Assembly, The evidence taken
by the said Committee.
Dir Smith OF |. Of W., oppo<ed the
resolution, believing a. he had before
stated. that the statement Of the Bank
officers was only cslc.ia'ed w ihrow
dust IN the eyes o, the people He
DAD not believe the facts material in
this case could be obtained
MIR Harrison referred 10 the ies,i-
mouy before the committee, which h..
considered as having thrown much
light on the subject He wIshed The
people to see whether ii would be ssfe
for the Banks To extend their discount,
or whether .hey must eurtail for the
balance O: the year. lie had no de-
'gu to throw dust either in the eyes OF
the people or the members OF the house.
The resolution was then adopted.
Mr.. Voolfolk moved the adoption
OF the following resolution:
ResOfred. That the President of the
Bank Of Virginia and Farmers Bank
be requested to lay before this house a
statement Of the names Of all persons
who are indebted to their respective
Banks IN sum or sums over sic. 600.
With the amount Of the indebiadoess
OF each, and the names Of those who
are bound for each debt Aforesaid
showing at the same time the eharac-
ter or kind Of paper held by the Bank
As evidence Of said debts, and the time
at which each was originally contract
en--and that they lay before the House
statement, shelving what portion of
their debts we're loaned by the Direc-
tors, and what portion by the commit
tee TO purchase bills.
Mr.. Voolfolk urged this resolution
on the ground that such Information
was essential, in order 10 restore conf
denee to the people.
Much discussion ensued, and vari.
Gus amendment were offered. when
MIR. Voolfolk moved, az u substitute
to the resolution. the following:
That the President Of the Farmer
Bank end the President Of The Bank Of
Virginia lay before this house a state
ment ShewInG the number Of individ-
uals, Office, trade or occupation Of
each the number Of Grms, The trade
o. business Of each. and The number
OF corporations indebted 10 their re-
'Pective Banks ct Richmond, With the
ssggregats amOOnt Of each indivIdunP,
nTm's, OF corporations indebtedpess.
That they furnish At the cane time
The amount Of debts due their Fespee-
tive Banks in Richmond by citizens Of
n,enmend and the amount Cue by
citizens Of each county, city, town Or
borough IN the State; shewinV wb.,
portion Of these debts are loaned bv
the Directions, and what portion bv tbs
COMMITTEES 70 purchase bills.
Mr. Vi,eheT proposed 10 add
And the amount Of stock held bv
each, 'ae sBOoai q lbe eniiFe int
test which the commonwealth has h
the Hanka ~ fkf~ nsf., At