Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-12-14


Ranks He Iusancrd the branches al PETERSBURG az"
Portsmouth and those Banks Of Northwestern, ~
which had resisted the squat. and n,'in,'itu ~
dit amidst the rreGeemabl, masses py wh'' - -,
surrounded Mr. S thou hit the Suspension mere d ,
Of questionable policy 't he was wiling 10 'iiu -,
reaS enable indulgence. NJ. ; ; remarks ci'"
many views which cannot present
MIR SxnrusnS further eX planned has amendment
Mr. BorIpIy ctsd the law OF ie"e 10 sho" th"' :
reourcd thc State debt, TO be pad III specie. nh
Mr. Sw,ru exclaimed the character Of TINS act' Win
s,;Il io;t The cost OF procuring specie to ia Oh ue
State. .;, >, omcnd
Mr. CARTER was against the proposition ~ a'' ''r.
IA ,hourbt the gentlemen who preceded MN VIZ ",
eb,:a hon, !, shadow If the Banks were coihPeilsu
~ nav The dividends in specie, they VIII c',d' III
n, ~ oe,uo il, and therefore the dlvdcnds wouiu
h. I,eea II was i,nlnatcrIal as TO the pfacuc" te-
su whether the amount was paia III pup , :.
Nr Lyons replied to Mr. Smith at some icns,h'
AZ cn,Er wished To bring the Senate back TO inc
.,;on The prima facic evidence before them, "on''
No, u.fy a condemnation OF the BANKS. nc o'c''
10 The amendment, because II was nrid""s anu '"u
what he deemed an od'ous d'st,hc'"i JEW" g.
Sa,c and private stockholders. 1t was mandatory ior
oa and not for the other lie thought II neiher just
mar nroper TO make the exacton, simply because We
had the power TO do SO. . -, ;o
NJ roxr,,Sr dcprccated the delay likely TO arse.
Whatever TO be done for the reiie' OF ''s
lie and other classes ought to be done spereS' az"
;,bout long debate lie would vote tor IN" amend
ment not viewing it making an odo'is dcthc.,oi''
if he thought it made such distinction, ne wou'u "
Tho last to vot. for it, But there was no truth III ta
ar rument. The State was not IN inc same
,;,l tho nr;va,c stockholders The State was bound
~ nav in nld and silvcr-n all ordinary transactions
Tho nriyatc stockholders not IN spite OF an nc
outer against the Banks Mr r. was glad !" near t'e
v,r. sound-that they were not "rolch corporations
Further remarks make by acssrs SMITH an"
Tyo<s in support Of their respective positions
Mr. S,orT also thought the amendment niade an m
vlious distinction 1t should be remembered mat the
present charter of the Banks was imposed upon t''h
bv the voice ofth State. II WAS Joint stock concern
and should operate equally
Mr. McMrLLEN moved to lay the eili ana a'''ci'
mcnts on the table Negatlved
The question on Mr.. ANnrKsoSs amendment was
then taken BY ycs and noes, and decided III the mega
tive BY the following vote:
.7ucs-Messrs Nash, Speaker Smith, M"ttett,
Faulkner, Bland, McMGi'eii, f"hta'i'e' 'N'''i''"'
Thompson-9
Noes.Messrs Campbell, Thornton, Cooke, Hnnton,
Pevton, Carson, Wiley Atkinson, Baptist, Bonduran''
Ponlson, Op;c Thomas Bouldn, Dyer, Lyons, Carter,
Woodhouse, Scott, Good-2o
Mr. SMlru moved to amend the Committees pro.
posed amendment by striking out all except the word
Prorided and inserting the following words: "ihe
Banks of this Commonwealth in which the public mo-
MES are on depose, shall pay the interest falling due
in January next, upon public loans, IN specie o, us
equivalent if the public creditors require tiff there
be 40 much in said banks 10 the credit OF the Common
wealth
Messrs. Cooke, Lyons and ATKINSON opposed the
amendment, and ii supported by Messrs ANptR-
sos, ScoTr aud SMITH
! The question, on Mr.. SMITHS amendment, beng
then taken BY and noes it was decided IN the al
| firmatve by the following vote
! 4ucs-Mcssrs. Nash, (Spcukcr) Thornton, llunton,
Carson, Wiley Poulson, Smith, Thomas, Dyer, Car
ter Moffctt, Faulkner, Bland, Mchullen, fontaInc,
| Anderson, Thompson-l7
/ .Nors-Alcssrs Campbell, Cooke, Pcyton, Atkinson,
Baptist Bondurant, Opie Bouldn, Lyons, Woodhouse,
| Scott Good-l2
| Some further proceedings were had, when Mr.. Nc
MULLEN, thinking there was possibility OF getting
through the bill to-day moved to lay the bill and
amendments on the table; which motion was agreed TO-
| The bill from the House concerning the Corpora
ton Court of Winchester, was, on Mr. ORR motion,
read the first and second times, and committed.
/ On Mr. Overs motion, the Senate adjourned.
.Fond0g, Dire. 9, 1889.
! The bill changing the time Of holding the Corpora
ton Court for the town of Winchester was reported
from the Committee by MIR. OrlE, read the third time
and passed.
Mr.. Woopuors 81 presented a memorial from the Ex
change Bank of Norfolk Laid on the table.
TIE BANK BILI.
On motion of Mr.. FArLKsta, the Senate took up The
bill for the temporary relief Of the Banks Of this Com
monwealth.
Some conversation took place upon the amendment
of Mr. SMITH, as to the effect Of the vote about 10 BE-
taken
Mr.. LYoSs gave his views Is to what he though
would be the effect of the voehe considered II qucs
ton whether the BANKS shonld be closed, whcthc
they should be allowed to proceed with business usli
al Mr. L. enlarged the injustice of The rcqns!io
contained in the amendment. and expressed his prefer
/ cncc for the bill as II came from the House
/ Mr. ANDERsoS replied to Mr. Lyons, and supported
the amendment, contcndng that the Commonwealth
had the right the moment the suspension took place
to demand the payment of her dcposites in specie. n
Injustice Inconvenience would result to the Banks b.
this requirement As long the Banks act correctly
Mr. A. was prepared to sustain them, and he thought
probable they were entirely ust;abc in the late sus
pension and would have been wrong not to suspend
But he required justice from them.
Mr. BorLpIx addressed the Senate as follows:
{ Mr. Spcakcr--I shall avail myself OF the present op
portuny to deliver my sentiments, conciscv can
on the policy of the Bill and the effect of the amend
ment While | am III favor of the BILL and opposed t
the amendment proposed, do not mean 10 be under
stood as bcnr in favor of Banks and paper money oil
abstract principles; but the contrary am oppose
to the whole system Of paper money, because view
it as founded on fraud and deception. But sir, tn
question now for consideration, is not what system
abstractedy considered, is the very best but what
the existing state Of pecunlary affairs and finance
of the State is the best We can do Not how the pa
tent got diseased. who poisoned him. hut how he
to be relieved from the malady under which he labors
1 or it is to b. palliaed.
The Bill rs it came from the other House has pro
f viso prohibiting the Banks from declaring any dvi
dends until they shall have resumed specie payments
The Committee of this body report tllc Bill with re
communication that the before cnt;oncd proviso b
stricken out: And the amendment proposed by III
, Senator from Culpcrcr, is to compel the Banks whic
have the custody, deposit Of the public revenue,
pay such part of the interest of the public debt ma
fall due in January, IN specie Or It's equivalent, $
much public money is then on deposit.-The first con
sdcration which here presents ITSELF isis the object
the original Bill proper one' Now, maintain, tina
; however much may dsapprove of the paper none.
in 10 uIu md mn aUPm =
however may loathe the canccrous disease Of pape
money which aiflicts the body polite, the ntcres
of my constituents and Of the Commonwealth al large
requires TINT should for the Bill, amended b'
the Committee Of ths bod y-and if for the Bill, agans
the alteration proposed by the Senator from Culpepcr
But dong do not vote for the relief of the Banks
Directors and Stockholders hut of the people nj large
If none but the Banks officers and stockholders wcr,
concerned they ought to be, and have doubt woult
hc, compelled to wind up their affairs and stop business