Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1837-01-03
-. MATTER O. FACT
70 TIE EDITOR or TIE E.N2uIRER.


Hc7tGSe Of Bank c0ptai-lntcrH improvement w ne
State IF Irgina.
It is time now: sir. 10 begin TO gather our scattered
thoughts the subjects above Indicated. The great
body ni the Virginia people will expect thing al the
hands Of the Legislature, during the present session.
worthy Of the state Let each person. therefore, c"nir
butte his mite 10 the OF reflection, which must have
taken place upon these Interesting subjects, with view
to deinitivc action The following the results
% mine, 10 which If you please you may give place III
your Journal
l. Make The surplus revenue, TO he deposited with
Virginia. TIE basis Of increase Of banking capital, 10
be converted into new stock IN The present. and any new
banks which may be created, and to bear pretty nearly
lust proportion 20 lle capital Of each. And the
plus viii be equal the amount Of increase ncc"s-
sary permit such additional stock TO be taken by indl-
vduas in all the banks, as may be sufficient having
nevertheless: due regard 10 safety as well as pros
perity. BY this measure, the whole Stale VIII BE-
improved IN its commercial and productive resources
in proportion to lis natural advantages. Agriculture,
commerce, manufactures and internal improvements
viii be mutually rcsuscliatcd renewed, aud made gao
IlUus summer THIS winter OF our discomfort. 1--we.
ry species of industry will receive lis wonlcd add and
each scheme OF enterprise will succour 10 tic extent OF
lis consunpGyc necessities the productive energies oi
almost every other Agriculture heretofore the least pa
ronIZed will necessarily be the most Deuelltcd he
infusion Of this solid capital into G already existing IN
our wenanaged Banks, with such additional ones as
il may be thought prudent 10 establish, would raise ali
the great interests OF The Old Dominion, as by mage,
fem the lung sumber, in which, they have not very
quietly rcpused. In addition 10 these advantages Of
such disposition oi the surplus is Of no small con-
sderaton 1t is the ready cunver5IlItv, Ut tic Bank
stock thus created, into cush to pay any demand on
the part Of the United States | do not believe
that The surplus will be called for BY that Govern
mcnt. But our principles as well as our duty, i0tbd
acting altogether upon this suppositon The struggle
in Which il IS the duty Ot Virginia to act conspicuous
par is 10 bI.ng down The Income ut the United Sites
10 the wants Of the Government Ifhct that will be ct.
tected, no with certainty foretel. But when
We arrive that point how uuc longer will take to
create deficit, sufficient to require drafts upon Inc
States Should BE- tic wish of Congress thus to create
one is question sill difficult 10 divine. We Will,
hcwever, suppose that have reached thai point OF
ll; and reasonable computation upon The pro-
Jabe wants of that Government. The surplus viii be
from thirty five to forty millions oil dollars II then, five
millions year should required from the States, which
would he very large proportion indeed, TIC who're
amount would not be Pad in lees than seven or cIghl
years. think, therefore, we may saelJ CONSIDER Tue
deposit 10 held by tenure much more durable Than
the Lille any citrzcn OF this Common wealth Amd
though we cannot call the money or own, we may,
with perttc; safcty, Il Had It not been
deposited with the States, il must have been used TO
swell the profits Of the Banks or been sqGancercd upon
unconstitutional schemes OF the Federal Government,
increasing its power and patronage, which are, already
magnied beyond their just propoEtion
x Let the Legislature strike cut 4 wise and liberal
scheme provement, extending .o and giving
aid in every section Of the State. Authorize the borrow
rg of million of dollars year, for three four years.
Ped.ng the dividends the new bank stock thus cIra
the money borrowed, until the Improvements TO be
made vii! yield sufficient: and let the stuck IN
the said improvements with The faith Of the State be
pledged for the ultimate payment OF the money borrow
ed The increase Of the banking capital above sug-
sescd, and the borrowing Of million year for three
or Jour years of European funds, would give ample
capital 10 Virginia, that most OF our Ra road Canal
1mu Turnpike schemes would be vigorously prosecuted
ne oNcuI;les under which they have laboed, have no.
esu "a"I OF feasibility public confidence, but OF
I" ,r'I ut The great central improvement, (hc
LIVER Sanal with stock Of jre millions Of dol!
a's anu 1e sts pledged for three mii0aS actually al
'oss olea up ioi want Of capital Turn your eyes to
The Souti aud SCUM Western Rail road schemes. which
ought to be the pride OF the whole S.u!h side, and
Southwest, and you hardly find dollar subscribed.
Fix your attention upon the Valley, aud you will
find the garden spot of the upiands struggling with
dropping Spirits 70. the woned capital prosecute the
Stanton and Winchester railroad while the hume
charters for turnpikes through all western
mountains, rendered ank paper for the
Indeed the magical attraction Of rails and cars will, the
undoubted assurance Of handsome profits upon