Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-02-02

The necessity for an increase Of Bank Capital IN Fr-
gina 10 be ve7y generally admitted. But how
it best he Effected; is The question. Many PROPOSE
tons have been submitted and will doubtless receive
the mature consideration of the General Assembly,
Permit suggest that both safe and easy Of
accomplishment; and though may not be the very hes,
considering all the circumstances and necessities u lie
State, may perhaps promise much good as my other
Let the Legislature grant the James River and ha-
nawha Company The six millions OF dollars asked 10 com
pelc that great work in the way asked fer, which will
enable them 10 carry on the Improvement irIumphanily,
and without embarrassing the finances OF the Stale
The General Assembly may then provide for many
other improvements which shall not IN the aggregate
require more than from half million 10 million Of
dollars per uunum, for number OF years sufficient 10
/ com piele them.
To iase the means increase The capital cf the existing
Banks say million million and half OF dollars
year, for the time required 10 Effect the ohJects-sI,
eight, years Let the increased capital all be
taken by the State, and be paid IN by fling with the
Banks State stocks TO bear interest OF SIX per cent
PER annum, aud be reteemabe for twenty years a!iet
sold The stock not be sold nor bear Interest until
all ollr available cash shall have been exhausted
aud then only authority from the Governor 20 sell
much shall he Necessary TO redeem The ISSUES OF
the Banks, which may return upon them. Interest 10
be paid half yearly al the Treasury the stocks after
sold
The Banks 10 loan annually to the State so much mo-
ney os may be sufficient TO carry the improvements
projected cacep the James River aud kanGwha, which
would be ollie ise provided ior) and the Interest
the uas 10 be oseiigd BY an equal amount ct lh- hal!
yearly dividends of the States stock in the Banks
taking however, that he amount loaned 10 Govern
men. should not lie than hall or t"o thirds Of
the annual nrrease of Bank capital The surplus oi
the States Gvldrnds 10 be applied TO The payment "i
debts already contracted for internal Improvements; NJ
be added 10 the income Of The Literary Fund, OF be d
vided between the two Obj srts
The Banks might do business 10 double the amount of
the capital, and consequently give all the aid re-
quircd TO establish direct import and export Trade,
fur, .sb Tho nE mildly all
The really useful improvements of The State This plan
would simply the credit of the State into pro
abc Bank pita TO the extent necessary pr the accom-
pshnent of two gent and essential objects connected
with Pospertye one an Improvement OF the Slate
for the devPlupcment and enjoyment OF lis own internal
resources; the Other restoration Of direct trade with
foreign countries by which we may Exchange our sur
plus products for those of orcg On growth and mannac
ture without paying tribute 10 the people "i The North
and thus increase en"ymens and riches IN ptopor
ton the increase Of facilities in own internal com
nerce and the cheapncss by which il and our foreign
trade may be conducted.
CouMpRCr ASD ISTERSAI. IMPROVEMENT