Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-11-27

every interra ', rest. her d.mcse welfare, were no
liable TO b. a rrG by TIC vrclssi;Gdcs which n'ghl &C.
cur in The r.ar!.rs ri tie East or North An 'NfS"r
binary change has CURED the foreign crIG.r!r" Il
the COUNTY change which exhibits The South ia The
attitude OF dependence on the North for the supply o
her demand of foreign goods and what is alike remark
able, far the sale 10 notifying extent, OF her s'aPeS
intended for foIeign consumption =, ,
The change commenced about the time ihat the NniH
decided favor Of rocy, which she has ever since
eady encouraged, TO her manifest and great b'hrn
but If which the South was reluctant I" aVaii "'s'"
and has not vet pro,led by she should ihat p''c!
is The BanknJ system and to lis powerful agency, as
the North has applied 10 IT, may Re ascriceo' III seH
degree. her commercial nscencanry
The effect of this policy in concentrating al ~
where il has been sppeasd TO with tqull Judgment ana
vicot laroe pDrun of the entire business &" In" whole
country is obvious II gave he capital ana csna' was
alone wanted to secure commercial success Inc firc'
Of establishing Banks, was, first, TO brns t"ge"r'' '"r
commercial purposes, the money OF lh"se VINO si''"
,u.crbe to lis stock and secondly 10 render capita! so
,;sed capable of performing the office OF lar tf'a'r
amount distributed among individuals As, thrn' an ~
diydua Of large capital is an unequal competitor Win
one of small so State or City, which brings 10 any
branch of commerce the advantages Of ample means and
extended credit must obtain the superiority OF one ess
favored in these particulars =,
By means of her bunks and their large capitals New
York has p,esented market in which every commodity
NAV be sold and in which there is danger ot an over
stock BY the accumulation OF commodities She mas
not been under The necessity OF restraining her oeai
ines in the products OF our own, ana Oh iofe'g" .'"
dlips TO some small advance on the actual private caP
"A, in rade but has been encouraged 10 enter
largely into Whatever attracted commercai enterprise
by ma wing in her to substitute ceuit lot caPa
So far she in advance OF the South, IN all 'hp 'act
Ties hch are essential 10 commercial activity lhat 'o
The want Of like facilities, many OF our enlefpHSing CT
zens Of no inconsiderabe private fortunes 90 thlher
TO profit by advantages denied 10 them at home.
Your Committee do not refer to the commercial as
cent,ncy of New York, and TO the influence OF her
h,nL al in II,
spirit Of jealousy complaint; on the contrary their
object direct public attention TO what ihey iesnto
as valuable and powerful agen, IN her policy in 'he
hope that II may lead 10 more ehHgn'e"su au INV
opinions among US.
of Northern commercial ascentancy. in other causes
than The one which The Committee has referred none
il IS presumed question that has been on elhcienl
auxiliary To doubt IT, would be to question the con-
nec,on brtween commerce and credit, which tue exre
renee of this country only but OF the whole worid
has ascerluned TO be inseparabe The ineVu"D!e 'eh
dpncy of is TO those points where crcal NAV
be obtained it'll the least encouragement and upon az
vauageous TERMS and without credit, commerce cann"
rise ar above simple barter and merchants have neishei
inducements space for their vocation.
II would have been desirable 10 annex TO this report
table showing the Bank Capitals OF the gcat cities oil Inc
North and East and in comparison, the small and lncon
siderable capitals OF Virginia and North Carolina III:
has been omitted for the want Of documents from which
10 compile it, The fact is. however, notorious, That mere
is not a point in any part Of country distinguished tor
commercial activity, which does not possess in al eni
nen degree all the facilities for banking; whilst The
Bank Capital of this State and OF North taroEa mas
been and is not only relatively, but absolutely small
and wholly Inadequate their capabilities, aud the
cxigrncics of trade
Jb. Legislature or this State at the session of 1887
authorised an addition to the Bank capital, which has
been in part only go far realised. The Law in respect
to part Of this increase has been suspendcd and II 1t
should he the pleasure of the Legislature at an early
day again to bring the mpo'an, subject under FeVs "
which is most earnestly and respectfully recommended
it's hoped that the may be settled as TO attract
subscriptions from abroad The true policy being 10
recommend her institutions by relieving them from one
rous and unnecessary restrictions whilst provisions be
made against the abuse and pcvverson OF their powers
CARD.
To HE Editor Of tie Bacon
In your paper of the I6h perceive that it is noticed
IS subject Of regret that the "member from CarksvlIe