Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-11-27
Smiths maj in
The district,
The Baahiry Syiyit-.fdd;tional Facts.
81 majority against Smith.


Banks continue be lhe order OF the day. he Com
mercal Convention Of Norfolk recomm Eds en- increase
Of The Bank ing capital OF Virginia Their Report hopes
THAT the terms may be settled as 10 attract sub'cnp
lions from abroad The policy being 10 recommend
her institutions by elieving them from onerous and un
necessary restrictions whilst provisions be made against
the abuse and perrersicn Of their powers.
The Commercial Convention of Georg also "recom
meucs TO the Legislature afford the necessary addition
of banking cnp;la Ike city Of Savannah, and olier
places both by the creation Of bank, with large
capital and the increase Of the capital and oil
any bank already located there, 10y The introduction Of
foreign capital BE- added 10 H. such terms and in
such manner, os the Legislature may deem advisable
and proper.
ln the State Of New York they pushing their Free
Banking System. The New York papers inform US,
that "Artices Of association and certificate for new
bank in this city, entitled The East River Bank of the
city Of New YORK. have been filed, with capital al
prfscn, of 81 00O Geo. with power 10 increase to SO OO'
O00 We understand that % per cent is 10 be paid IN
cash. and the residue in stocks and bonds and mortgages
air Deafc!d the Hon James Emolt Hon. James Tall.
madGe and other associates, have filed certificate with
the county clerk and Secretary Of State, establishing
bank with cash capital OF one million OF doals HE
institution is be 81 yed the 'Ncw York Banking Com
pany and will go into operation in this city as
The bills and other necessary detail can be prepared -
The Wiloughby Bank established by Samuel NlOugl.
b. will commence busiurss in day two at Brook
lyu II has capital Of 100000 with the privilege Of
increasing it to $4,000 Geo and TO continue nne hum
dred years S. a. WilIoughby, President. F. Leake,
formerly Of the State Bank al Albany, Cashier The
! plates are engraved by Rawdon Wright, Hatch * Co
sill further ave learn that certificates have been
| filed for bank to be called The Sluyvcsant Banking
Company be located in the Bowery, Bond street
The gentlemen interested, Messs. Russel Slebbins.
| Elisha Peek, Peter Palmer, R. Van Rensselaer,, ard
others. The capital 100000 dollars and may he IN.
creased to two millions.
The books of subscription 10 the stock Of the North
! American Trust and Banking Company, which author.
lied The receipts Of bonds and mortgages closed on The
18Th instant, and we learn that applications were TO-
ccvcd amounting 10 severa! millions Of dollars over and
above the authorized 10 he aken.-Thc capita! now
invested in bonds and mort cages is five millions O! dol
a!s in addition 10 cash subscriptions 10 considerable
amount received in this City and Europe.
Among the institutions thus quattered upon the coun
try under The shield and shelter Of the New York Free
Banking system, Branch Of the Bank o! the United
States. II acts by lis agents. Awaiting itself Of the &c
neral privileges, il establishes Branch in New York
as i i, had a special charter from The Legislature.
has this additional advantage that pays no Bonus.
issues its paper IN quantity thus IN fact evad
ing the stipulation of the General Law, which requires
that every note should first he secured or deposited OF
State Securities Mortgages Of real Estate and ei
issued by The Comptroller Of The State. But the Bans
Of the United States issues lis paper, payable al IL
Office in the City of New York
! ThHS hcy go'-Swecping on, creating new institutions
for indefinite periods with large capitals without AIDE
oua,e restrictions and resisting the influence of lhoss
lights which the progress Of the age must bring with it
The Empire Stale may yet rue the consequences which
this wide Tree DahInG system is GeSted TO produce -
Permit any man association Of Eicn to unite their ca
pals discount upon il, and receive dp0sieS Of othe
, capal-IhIs is much as could be asked ior-ihat II
10 say grant them the privilege Of establishing Banks
Discount and Drposiie- But do not make them at the
discretion RGnkS Of CircUiaOn-that is 10 say, have s
power Of changing the standard of value, and flooding
society with paper circulation, which, when 1t flow
back upon them, may !evuIslon in the genera
transactions of society have already published
article from Ike Charleston Patriot, explaining and jus
,ifvnr this distinction. We have another from the
source, which mean 10 lay before our readers
We ought indeed TO pause aud ponder, before we ie
loose this Banking spirit Al all events let US be more
cautious until the present Banks have obtained The full
lest safety in the resumption OF specie payments: Every
Bank calls for specie and nler!ees with TIT
! stable resources OF the present Institutions.
, We a.e happy The Banks Of Alabama abou
tong The mark al last Tie following notice was made
public in Mobile the l2th inst:
"Eank .N"tiCc-N heieas, tie several Banks III !hi
City did, The 10Th day of October last adopt joint
solutions 20 reun TO cash payments the first Monday
in January next-lhe publication Of which resolutions
deferred in order 10 ask The operation oil the in
terror Banks OF the Stale in that ct eci And whereas
the Bank at Tuscaloosa and the Branch Bank at hiont
gomery have adopted resolutions 10 resume the pnymcn
of their notes simultaneously with the Banks Of The
State. Louisiana and Mississippi: BE il therefore
"Resoiecd That public notice be given that The Banks
in this City will the payInen, Of their NOES !!
specie on The first Monday Of Jaruary next.
! GEORGE :. GAMES,
PTeSIdtEt Brunch State BGnk. .EObtie.
PHILIP MCLusKEr,
President Planters ard .HsrckantS BaEk.
WM Il. IlALLrTr,
Pr1SiGtnL E0rk IF .ifoLdc.'
! VIII nc. Mississippi follow The example Of Ala