Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-06-21
FeipAv EvrviSo, June Il.

seat IN the body.
Mr.. Maefnand, of the committee of fifteen ask
ed earc 10 be allowed until the next day 10 report
not heing able procure the necessary information
and prepare report during the recess which was
granted.
Mr.. liaxan from the commrrcc on manufactures.
reported. The report is brief but gives the extent oi
manufacturing carried on ia Petersburg, Wheeling
. anu Rchmand the amount OF capital invested IN Tie
different manufactures Of each place, and eoncns in
the opinion. that Virginia possessing all the natural
advantages which she DOES, Is enabled TO carry on
manufacturing with as great facility and cheaper
than any portion Of Tie mon. wanting nithlng but
proper Legislative action and capital. The fepon
also recommends the appointment OF another CON.
mee. continue its tburs after the adjournment 81
the Convention. aud To forward lis collection al ntnr
nation 10 the President To be lad before the Legs
ature.
Mr. venable suggested, that the committee in
the hulty OF getting up the report, had omitted the
manufacture OF several articles ~ our State, aud IN
sanced that Of salt IN kanawha-he therefore NOV
ed 10 recominit the report TO be returned IA the
morning.
Mr.. Baxter agreed on rccommitting. and cited the
manufacture OF salt IN Washington county as being
omitted
Mr.. Nenable aud Mt Baxter were added 10 the
committee.
Mr. Mallory then asked leave to Withdraw ms
report which after conversation and assurances
on the part Of those who hadopposed II, of the kindes
personal feelings Tor the gentleman, permission was
gwen inr blm 10 Withdraw ii.
On motion, the Convention adjourned 10 / O'Clock
Saturday.
SATURDAY, June lG.
The Convention met pursuant to adjournment at
Il O'Clock.
Mr. Robert Anderson offered the following reso-
unns which lac moved be laid on the table Tor the
present, and asrccdto:
Resolved That the thanks Of this meeting are
ine. and they are hereby rendered to DR.. Francis
Mallory. OF the delegates from Elizabeth City
county. Tor the able and laboIioUs report presented
/ BY linn to the Convention.
Resolved, That DR.. Francis Mallory be, and is
hereby requested 10 put the said report IN
possession Of tins Convention in order that it may
constitute permanently pant Of, and be published
"ifh lis proceedings.
Mr.. Mlciarand. from the Committee Com
melcc and Trade, reported. The report answers
decidedly in the affirmative the questions pro-
pounded by Mr. Haxter's resolutions, aud recon-
mends an increase of banking capital.
The following is the substance OF the resolution
which the Committee presented. amended by
Messfs Cunningham and Southgac:
Ihala bold and spirited effort be made TO effect
The object Of direct foreign trade, aud that Com
miiiee be instituted 10 report what amount Of add
toua capital would be sufficient, provided that
Which Is in operation, aud that OF the Exchange
Bank about 10 commence, should prove insufficient.
and thai Legislature be requested To afford eve
" facility 10 those States who manifest DISPOSE
ton 10 send their produce to our markets.
Messls. Wombe aud Martin opposed the pro-
position OF an increase otbauhms capital, aud said
+ that when the Exchange Bank wen, INTO operation,
II would aliod sufficient capital.
Mr.. James iosc aud addressed The meeting at con-
siderable length, shelving the utter importance oi an
increase OF BANKING cnplal essential to afford the
importing merchants the means of giving that ac-
commodaon In country merchants, which would
withdraw them from the northern markets. lie said
the efforts which importers here had made to with
draw thatradr had cost them much suffering, as they
were under so limited capital.
Mr.. Rntfn sunucd substitute Tor that of the
committee on the increase of banking, MS follows
Il he desired change Of the course of trade may
T lie still more aided and secuted, by the action of the
State Governments which can be so powerfully wiel-
ded either according to the direction given, for the
benefit OF the prosraon of the best interests of the
Commonwealth This may be done in various
modes hul only one will be here specified, aud re
commended, as being the most obvious, aud the most
intimately connected with the practical operations oi
The Grade. This Is to increase the Banking Capital
OF Virginia tothe amount required for the trade and
business Of the State, and At the tune reform
the system of BANKING, as to guard much as
possible AGA the rIng tendency OF all such insii
nilons 10 sacrifice the general interest of the connr,
whenever the separate banking and stockhollng IN
terest can be thereby benefited. The reformation
OF banking operations is required At as much a,
thei extension and both ouChto be carried throngl
together llerctCf re- Virginia has suffered her fnl
share oithc great evils Of the general tankng polio,
aud operators OF all the States, and has proilcd b,
oht lew oi the advantages which full participation
IN the direction OF the operations would have secur
Ell To us ms they have, and IN Great degree at on
expense aud loss, secured To the Northen States.-
1t is highly cvpcdcnt that Virginia should cnlo
more OF the benefits of the Banking system, and h