Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-17

slch purpose, when ii considered that the Coin
monweah was the chief stakeholder in the banks; that
she controlled in oil elections directors and that there
fore, II any harsh or unusual condition be put
upon hem on account Of any of fault in their ma
mage men the bnne Of those fault, lay chiefly upon the
State 1t was calamity common 10 all, more than their
own faults which bad brought the banks supplnnts 10
the bar oflhe Legislature Besides we farther
Mr. Med emphalicaly TO say that he approved the poll
cy Preserving to the Legislature IN all nca of ncorpo
ration the right OF repeating them for any reasons of
public interest which it might deem sulcient-hat he
looked to this policy us safe and sound nnx
ious that it should become the fixed policy Of the State
and would not, therefore, either endange or discred it
by attempting premature aud improper application oft
now ne would not risk grea! and US, new prln-
ciple OF charter limitation by introducing it under cir
cumstances not only improper for its introduction, but
well calculated TO expose if sacrifice 10 prpudiced
and extraneous objections.
FOR THE ENC UIRER
spell isput upon understandings by The words
public faith and national credit which fascnates us
into an opinion that fraud, corruption and oppression,
constitute national credit, and debt and slavery public
iailh This delusi9n of The arstocracy of the present
nge Is moi less apparent, than the ancient divinity OF
Kings, and yet il required the abors of Locke and
Sydney TO detect that ridiculous imposture. Public
faith IS made with great soenny TO mount the fos.
trum, and 10 pronounce the following lecture. Law
enacted for the benefit Of q nation is repealable but
law enacted for The benefit of Individuals, though OPP
Pressve to nation is charter, and rrepcalaGts. I<
existing generation is under The uteage OF all past ge-
neralions and must rely upon The responsibility OF me
grave for the preservation of its liberty. Postey be-
ing bound by the contracts of its ancestry in every
case that diminish lis rights is daily growing less
free by doctrine which never increases them. A
government intrused with the administration OF pub.
lie affairs for the good of nation, has right to deed
away that nation for the good of itself or its partl.
sans by law charters for monopolies and snecures;
and posterity is bound by their deeds But although
existing generation re.assume the lber-
~ property held by its ancestors it may recon.
aplf hv liSli
its descendants. -Taylors Inquiry, section Isl, page
81. And on page sixty three, whilst most triumphant
y lashng the supporters of that most runnus and
rannca doctrine, shat policy and justice requires law
beneficial to individuals at the expense OF nation 10
exist for the period prescribed to sustain which is
necessary 10 the elemental political maxim,
that the good Of the whole ought to be preferred to the
good Of the few,) he uses the following language 10
illustrate the contradictory opinions of those who main
tain That all charters repealuble the same mouth
will soemny assert that the principles OF equity an.
null every contract which defrauds individual; and
that justice and policy require catalogue OF law char
| feet
Being sincere and honest believer in the doctrine
here so ably supported by John Taylor, whom suppose
some Of these newght politicians would call " Loco
Foco,' truly delighted at! the Introduction OF Mr..
Woolfoks Resolution" ind provided, moreoUcr, The
Legislature shall have the power to repeal alter or
amend the charters OF all the Banks which avail them
selves Of this act at its will and pleasure This reso'
10 me 10 recognise IN
doctrine, that the legislature has the power 10 repeal the
charters Of all institutions, which. after their creation,
may become injurious the public good or fail in any
to efectuate the intent for which they were ce-
ated. The decisive vo,e oo of rs ayes 10 43 noes on
this resolution, seemed 10 indicate that new and bright
| era about to dawn upon the Old Dominion. The
imposing voice Of the Virginia Legislature had solemn.
y declared by strong voc that were no longer 10
be bound hand and foot al the footsoo Of corporations
shat have neither souls TO be saved, or bodies TO be
kicked But this CLEAN Of sunshine destined 10
with modification and regret This resolution, the en-.
ering wedge that would have rived and spntered
system that has been alone supported by the magic
names Of "chartered rights" "Pubc faith, &c. was
Withdrawn by The tim!d and irresoute. lnstaner q
olhy Wing arises, talks about Dallas Loco Focos, and
other names; aud 10 my establishment, men
whose democracy had thought was as true rs steel
whose frmness was unyieldlng-alurmed at name
shiverng at phantom, arise, and say they did
not see some that they could not hear and all that they
did not understand, the vote that had been given.
reconsideration is moved by certain delegate OF whom
had expected better ings-the resolution is lost, and
thus the only decisive blow that has been struck tor
years in behalf Of the peoples rights is taken back The
Delegate from Rockbridge-the nobest Roman oil them
ALL who by his cultivated mind aud thrilling eloqnence,
peculiarly fitted illustrate and sustain this subject
in the House and before the peopleacknow The
power of the Legislature TO repeal charters that are IN.
consistent with the public good-yct thinks this is not
the meihe harvest suppose is not ripe Tor The SICKLE
much regret that so meagre report OF his remarks
was furnished But let me tell him. that little more
sleep and little more slumber, and little folding
up The sleep, and the time will have passed tor
action His abilities, great though they be, will be una
BILE to strange the grown monster.
A GOOCHLAND DEMOCRAT.