Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-02-13

SHSUEHStUH, aiE cCPialinn
small notes virtually for three years be eicluaI
for present relief as repeat On the other hand, if the
design be narc political agitation and party clanor
pardiess Of the public interests or il II he deeper
scheme to to crt'nStre ana rrtdecmaMt pnpr
currercg the Federal ma ority Of the House will
in their BILL and thus prevent the passage OF any aw
! the subject. .
TONS against thu Sub Treasury System lie at"rrssr!
the House exposition Of the monetary prof Is of the
| Administration" The effect Of the Sub-rr"asury
would, he sud, be crushing TO business to destroy Tie
country, and 10 extend the actual power Of the trhira
Government be yond any assignahe limit lie asked the
attention of the House to the details Of this Sub lrea
sury pIan-or, it had been recently baptized, the III
dependent Treasury bilsaying that he did not like the
new name any better than the old one. The whole
complexion of the project was too independent alsoge
iher and it was none the less odious to him for lie
change of name. NO question had been taken
An Albany Correspondent OF tie New York Herald
states that MIR Sas VI. Slilwe YVES a5nul to propose
scheme for State Bank Of 80 millions. ct requires
confirmation y
The Albany Argus describes the following scene,as
having occurred in the House Of Assembly Wednes
i.Mr Mann moved to amend his amendment, by add.
ing the words but that by the Constitution OF the t.
States Congress has power to charter a National
Bank to be located in any of the States Of this Union
"Mr. p King seconded this motion.
The Speaker decided the amendment 10 be out Of
order.
"Ar P. King appealed from this decision and pro.
ceeded sustain his appeal not however without IRE.
ouen calls order by MIR. Ogden and the Chair. for
wandering from The question. [Of the scene which fol-
lowed we have only space to say, that it tnmu!tu
Gus in the extreme. Mr.. King finally having been ur
dered by The Chair peremptoy to take his seat and not
being permitted to proceed without leave OF the house.
This Mr. H. Indignantly declined 10 ask, and while pro-
testing warmly in the name Of his constituents that he
asked favor at the hands OF the majority the Speaker
put the question, and the House refused leave. MIR H.
again protested that he asked no leave-and being order
ed again 10 take his seat, perempIoy misunderstanding
that nothing but forcebrute forceshoud prevent him
from saying that he spuned with Indignation the idea OF
asking any such privilege as representative oil the ee
men Of ST. Lawrence.
"rhe question was then stated TO be on the appeal and
Mr. Mann rose that question: bat was called to order
before u,tcrng word that could be heard and ordered
BY name to take his seat, which he refused TO DO While
Mr. M still standing, and had the iloor, the Speaker
ordered the clerk 10 call the ROLL and The dectsion o he
Clair was affirmed ayes 81, noes 1-hlr Mann ieus.
inr 10 vote and being excused by the llouSc
instrumentation Saturday. week, resolution
was sent 10 the Committee Banks "to inquire into
the expediency of establishing Bank with capita! Of
ten fifteen millions of dollars 10 be called the STATE
Bank of massachusetts,, and OF establishing branch
from the same in each Of the several counties ut The
State; also of the propriey of The States owning
part of the capital stock Of said bank and Of controlling
The direction of the same; and that they be further IN.
sirucrd report what, if any, alterations are necessa.
ry to be made in the present system of banking
MAINE.-1'he House was occupied on the 2Hd inst,
with the Small Bill Lac. The bill goes 10 "repeal the
law prohibiting the emission and circulation OF bank
notes under So. All amendments were voted down,
and The bill passed to be engrossed" Republican Sc
nate is yet pass upon it,
AlciIIGAS.-The Legislature have passed the bill
Incorporating State Bank, with capital Of $5GO0,UO0
founded upon the late loan of the State. The Bank Is
10 receive the bills OF the local institutions, and furnish
drafts upon New York. at the tate OF two per cent
SENATE OF VIRGINIA
The following Resolutions offered by Mr. Meade
in the Senate Of Virginia. Thursday, and make the
third series on the subject Of the Currency which that
body has produced.
al Resoired Gu the General ASSEMBLY, That it is ex.
pedienl 10 change the system OF Banking Er.
ginia-and that Common wealths Bank, TO be calrt
the Bank Of the State Of Virginia. ought to be establish
ed on State account, with specie capital OF - m-
lions Of dollars TO be increased from time to time as
circumstances and the wants OF The community may
QuireD form the basis Of its issues which, with lis
other liabilities, shall never exceed times the amour!
Of specie on hand
az Resoired 1ha, there shall he many branches
Of this institution the trade, commerce and wants OF
the people Of this Commonwealth may require, ana Tile
capital assigned to each shall be regulated by law
80. ResOircd, That the capital stock OF said Bank
ought TO be procured by sale of State stock in foreign
markets. bearing an interest OF - per cent, and re-
deemed in years.
81. Resolcrd, That The annual profits Of said bank
ought 10 be applied in the first place. 10 the payment OF
the principal and interest of the capital stock so Dor
rowcd and after the debt shall be thus e1tlngulshed,
then as far the will 10 the current expense OF
the Commonwealth, to the purposes of education, and
The internal improvement OF the State.
80 ReSorcd, That the stockholders OF the existing
Banks he invited to surrender their charters and their
interests in said Banks TO the Commonwealth Of VIrg
MIA, and in lieu thereof they shall receive State stock,
bearing interest f per cent, and redeema0le IN
- years. and the Bank Stock thus purchased, shall
be part Of the capital stock OF said Bank Of the State
| Of Virginia.
will not surrender them, ought not TO be renewed but
when they expire branches Of the Bank Of the State Of
Virginia ought TO be established in the places Of such
Banks and their branches
a. RcS0tred, That in addition TO the specie and all
other owned By the Bank, the State seU
ought TO be pledged for the redemption OF lis notes sd
| other liabilities.
So Resolvsd, That the directory of said Bank ard
branches should be appointed in such manner the L.
| gsldure shall, by law, prescribe.
"9. Resoired, the opinion Of the General .2Sstmbg
That TIE adoption OF system like the foregoing, by al!
the States of this conederacy, would result in the g..
neral currency and reception at Of the notes of EACH
in the establishment of uniform currency of paper, an!
would super.ede the alleged necessity Of National
| Bunk.
40. ResolrcI, That the Governor. of this Conmoa.
wealth be requested TO forward cory Of these rcspU,
ons to the Governors Of the several States, to be lad
before their respective Legislatures
THE DEBATE.
The House tf Delegates has been principally engaged
during the two last days of its Session the grca!
scheme Of Internal !mprovement-Mr Segar of North.
amp,on commenced HE Speech in behalf Of the Report
OF the committee, on Sasdaylnd concluded yesicr
day-lt full Of facts ano slatiscs-which were cal
culated to demonstrate the immense benefits of large
and liberal system Of Internal improvements. The
Speech presented throughout able and animated
gumcnt in support oil his positions
Mr.. Rives is The subject Of ibera squibs 10
the North For instance, The ~ York American Of the
9th publishes letter from lis Correspondent in Wash.
ington Of the Sd
'At meeting of the Cabinet short time ago.
decided by The sachens that if Mr. Rves could not be
concliaed the only alternative wond be to lay h'H
aside, which you could be easily effected ~
simply instructing the Senate Of Virginia to instruct 'e
Senator 10 vote for something he vii! not O course
he would Immediately resign, in conormy with TIE :