Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-02-06
c;cI,l,,and, Va, Tuesday, Feb. 6.
TIE ST3TES.


oil Of monetary were owing more 70
The wild Split speculation which lately spread ,hrous
tho oile! cause II ne BANK BIZ! OF
the COMMITTEE ;nay adopted unanimously IN the
sna.e on Tie Gih 1t contains strong general re-
~ua.ions against the Banks. Among lis other provl-
Sous. are the following;
Fsch and every bank is TO have twelve directors, six
chosen ~ the stockholders and six appointed by the
Safe The direction Of The branch banks is also regu
lated There is TO be election OF directors, lmne
G2;sy after this act shall be accepted-ihe banks are
NJ hereafter loan pledges Of stock and the loans
already made. De gradually diminished I'LL extinct
The Title % o! property mortgaged the banks
TO be restored TO their owners. The penalties enact
ed against directions mssnanagng, are removed from
such directors record the. votes against The offence
Indicated Penalties are laid the members of the
board Of currency for negligence or improper conduct
/, has also been made penal offence TO exact commits
sion. besides the conventional interests, on oans &C
made bv merchants planters. Mr. Hoa, VINO was one
Of the distinguished patrons OF The BILL STATED IN
the Legislature tina. in proPounong 10 Inc
Banks the committee had found no less than seven mil
lions OF dollars had been loaned 10 ~ directors OF sucn
Banks! There are nearly nine millions of dollars lying
in ne hanks-so much useless. unemployed capital
Ono The general resolutions from the Senate about
the Public Lands the Sub Treasury System, &c, DC,
were made the order OF the day in the II OF T. for the
:ls, ut A series OF resolutions have passed the Sc
nate, respecting the RATION OF Ie1as-lhe prncl-
pal resolution is follows rod unanimously adopted;
Rysssl Gcacra assembly lie S0e 81 Ohio, That IN
;hs hei Of People Of ih STATE Of Ohio DO
4e's ssns Protest. against the Annexation OF Texas TO these
Tha, par, 0: the Repor, which concerns the c1psdien
On o; the neza,iun OF Texas. was adopted with one
dissenting voice and that part which concerns the
suiionai power OF Congress 10 effect ouch annexation,
with thirteen dissenting voices.
Efforts were mace in The House by friends Of the Ad
.7r!s.rs;ion engrah upon bill Incorporating Steam
Navigation Company the right OF repeal and The iudivi
cG3 liability Of Stockholders The propositions
ss:iret by decided ma orles We are SO much Loco
Focos 20 very cant word TO insist upon the
fist. No c1are. ought ever 10 be graned which does
10: reserve the Legislature The power Of altering o!
aoos,ng it, when The public nercs; demands it-As TO
Iye I'd pIorisioa we are willing ID make each psrtner
liable for twice the Of his s,ocsthat Is 10 say
ratio bat The whole extent OF his private
fortune. MIR Legare, in his late letter to Charleston
suggests that This proposition has been made By one
OF the recent Political Economists OF Eng!and-An IN
te,iipeni CORRESPONDENT from Baltimore writes Ibid
vou observe that Of the branches OF the Ohio Leg
isis,ure has passed au act requiring Bank which aP
pied 10 il for continuance Of It's charter, condition
OF granting il. that all the stockholders should De respon
sb their private property 10: lis debts hereafter IN
CURED: And can you give any Sufficient reason why
snch should bs The condition required Of all Banks
II you and were 10 enter into partnership and 90 into
trace we should be held liable the ulternosi tarhng
OF private property for the debts OF the rn and be
subject the rsu:y laws If We charged nno received
more than pc. cent 70. The OF our money Not
So with the Banks. And why Motive were not aware
Of The which he ree1s-out the problem which he
suggests clearly worthy of The most profound cons
Ge!aioa 4. the frs. blush OF st, We would say that
scarcely any would be willing 10 risk every thing
winch consists of great many partners, and where the
business carried by SO many otlcers.-!n these
should think. the responsibility O.; each part
ocgt: 20 be increased beyond tae amour; OF his
the whole extent OF his fortune. Where
the Company consists Of few partners, each OF
whom NAV assis, in conducting The tie Bank
JoHt Stock Companies OF Eng land the rue oil on. Cor
respondent. NAV fairly apply
kExTuckY-The bill! TO relieve The Banks from their
disabilities, incurred hy the suspension CT specie pay.
men,s. has passed both Houses by large maIores.-
This bill them ali their chartered rights and
privileges in the event Of their Fesum!ng specie pay
nents simultaneously with the surrounding States
NEW JERsEY.-This Wing Legislature is driving on
favor of the shinPaster system The act authorizing
the banks to issue notes under FIVE dollars passed both
Houses OF the 3o,h rt-"The BILL as i; originally pas
ed The Assembly, sanctioned the issuing OF SINAI! notes
by the Banks Of this State and city OF New ok, and
contained section restraining rs application 10 he
Paterson Bank In cuunc!i. this latter RESTRICTION Tor
the reason that the affairs OF this institution would more
properly constitute the subject matter OF distinct enact
r.en, and the application the la banks OF the
city o! n York. deemed unnecessary and stricken
ont. The bill! thus amended (5eng nothing more or
less than unconditional repeal of the law restrain
ing the banks that State from issuing notes Of less
denomination than five doars) received the sanction OF
the House o: Assembly, and is now a law. Il ms Is
another sin in the other extreme. Il is also "a step
backwards INTO G:roe'is;n
What beau;iip that Of sh,h plasters II Is
much be desired, that the Legislature Of Virginia
would tske up subject Seriously probe the evil and
attempt 10 find some practicable remedy Were they 10
authorize committee TO send Tor persons and papers, we
should have, sreId.y suspect some ccrous orve-
lopemenis Il SAID that certain firms and institutions
have issued them by Sheets and perhaps by qures-and
that person has purchased up about 500 WORTH
circulate them through one OF the upper counties.
PExysyLrAsIA.-Tne Reform Convention has rescind-
80 The resolution fixing upon The % inst. as day for
ne na Adjournment. and passed another. hSing on The
22d inst the day Of adjournment, unless the Con
yen,nn shall have sooner finished its business The
Legislature have not ye disposed Of the resolution con-
corning Mr.. tauon's resoluton-nor have they de-
nllive!y acted any bill touching :he resumption Of
specie payments By the Banks.
New YoRk-The Legislature have not yet passed
The hi for permitting the circulation Of bank notes an.
Dc: S3-1fe Wings for total repeal OF the re-
straning law the friends of the Administration are for
saspendng for two years They hare also se'ers re.
solutions before them. Mr.. Hcley. from the Select
Committee so much Of the Governors Message as
-caes 20 he origin and OF the present derange
OF the monetary affairs of the county and to the
Of The General Government the subject OF
Banks. and the co,leclioa and disposal of the Public
fSevenurs has reported series OF Resolutions, IN OPP
position 10 The Sub-Treasuty Sysem-which concludes
WILL! the following resolution:
ftesOlrtG III the ScRcte CONCUR That IN the opinion
81 tas Legislature the reiterated Of the
aforesaid scheme by The President of the United States,
seconded by the above approval OF HIS E4ceencv the
Governor and the perseveving efforts made TO procure
It's adoption have deeply alarmed the people Of this State
and furnish this tine prominent obstruction to the
revival OF credit and business and return TO specie pay
aenls by The banks and that the Senators aad Repre-
hta'es from this State in Congress, will best conform
s' scs and the wishes Of their constituents.
=; sn;"ac!y and faithfully opposing its adoption
,b SoesG ~ tie S'Ra:c concur. That his Excelency
ne required transmit to each of our Sc
fn.s'; ~" REPRESENTATIVES in Congress, copy OF the
-.s 80. T'can.s'e and resolutions with request 10
P'sse", Ne same 10 bo,!, houses
49, ,t. '.' 10 lay them on the table, with init
rbe abs .ua' @ soa'd call them up early day
t, $780, says they viii be passd BY TIE House,
uu' ltjeetso oy The Senate Mr. Mann has submitted
'ne ,oho~ins ~ way 9: substitute for Mr. Ho!ley's:
hes"t0ee !, The Senate concur, That ia The opinion
y! t.:s Ls:ia'u'T, l" iaespedient Cor Congress to