Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-15
Friday, May II, 1888.
IN

Mr.. Davis offered the resolutions OF the Legislature
of Massachusetts,, protesting against the annexation of
Texas to the United States as a measure unauthorized,
impoGtic, and unjust. On his motion the document was
ordered 10 be printed, and laid on the table.
"Reminiscences against the execution Of the Cherokee
treaty were also presented by Mr.. Pierce, Mr.. Morris, and
by MIR. Southland, (six or seven from New York, Penn.
sylvania, and New jersey and laid on the table.
Mr. Riyes. on leave, introduced 4 bill 10 r~eorganize
the United States Marine Corps. Read twice, and re-
ferred.
MI. Mouton, on leave, introduced a bill 10 authorize
roods, wares, and merchandise imported into the U nilcd
States 10 be deposited in warehouses. Read twice, and
referred.
On motion of MIR. Robbins, the Secretary Of the Trea.
sury was directed TO inform the Senate, as soon as prac.
ticable, of the amount Of goods imported into the United
States from May 10, 1887, to May 10, 1888, and also the
amount Of duties received in the same period:
BANKS IN THE DISTRICT OF COLUMBIA
The Senate resumed the consideration Of the bill 10
continue the corporate existence OF the banks OF the
District Of Columbia.
MI. Niles spoke and read extracts at much length in
opposition 10 the bill.
MIR. Buchanan said he should be pleased 10 vote for
this bill, and he should do 80 if it could be brought 10
the form in which he thought it ought 10 be; but he
could not vote for it in lis present form. lie would,
therefore, offer two or three amendments, which, if not
adopted, he should feel compelled TO vote against tile
bill. .
section Of The bill, which allows 10 each Of the banks a
capital of $500, 900. He thought n $3,000,0 900 bank
capital for this District quite too much, making a direct
increase of 81 200 900. His object was to continue the
capital of each bank as it now actually was.
MI. Roane said he should rest satisfied in the end with
this bill, in any form which its friends might think pro.
per 10 give it. But he was opposed 10 this amendment.
1t was the design of the committee not TO fix the capital
at the amount actually employed, but to give room for
increase, in case the business of the District should re.
quire it, in consequence Of The expected increase Of trade
with The West. But they had taken it for granted that
there would be no actual increase Of capital, unless the
state Of business should demand it. MIR. r. thought it
very important that the contingent privilege should be
granted TO each bank, Of increasing lis capital, if neces.
sary, 10 S5OO,O0O.
Mr.. Williams was understood 10 speak in favor of
fixing a limit suitable 10 the actual capital, leaving it TO
Congress hereafter TO extend that limit, if it should be
found necessary. He also argued in favor of allowing
all individuals in a community 10 partake equally Of the
benefits Of banking.
Mr.. Hubbard spoke in favor Of retaining The second
section, and modifying it so as 10 reduce The capital of
each bank, if thought best, from $500, 900 to 1886 900,
which was the present actual capital Of The Bank Of
Washington.
Mr.. King said, he happened TO be chairman of the
committee appointed TO examine into the condition Of
the District banks at the time (l634) when some of them
had suspended specie payments. He was then preju.
diced against them, and therefore was disposed TO exa.
mine with great strictness, whether, in suspension, they
had been subject 10 any improper influence, and the
committee were fully satisfied, after examination, that
there had been no such influence; they had done all
they could to continue specie payments, but had been
compelled 10 suspend by the banks in Baltimore they
had then acted a most honorable part, by giving public