Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-04-26

weakest understanding that the RUIN 80 SiVldY
would never have the same extent occniea. bu,,
Sir The h,s ory Of Banking IN our own State shows M
same tendency. Without gong INV .ne A. md
A the H. of Delegates, OF its late session. by theih
,. be seem tha, The Odd of Januny 1888 tle banH
~ Vrouia in this city, Wilh capital here OF VI soo
Soo only had loan 81 G6 G2 40 to one hundred ana
CIR ne rsons or firms only and that while the uhoe loans
of the Bank here amounted to only 81 co. ~ <t-, no
on the 29h of January, 1895, The Farmers Bank OF W.
gina in this city, with capital much lees ,nah 'ia. VI
the Virginia Bank, had on loan 81 4Si '4uo ~ "
seven persons or firms ony-and that, while me WHO
oaus Of The Bank have amounted TO $24oo4.- Oh o"'y
Does not this demand correction: Inc "ho'e D"'
loans of CONNIE rcia and manufacturing cry, h
ing 10 So 3l7 $50 SO, of which $50 100 - 'e
hands of t,po hundred and three persons or G'"S oy
Should not this state of things be corrected aho o @
future prevented! 1t does seem TO mr., on " o' "
manded by The strongest considerations OF GUY
Under This view Of the subject nave ptePa'eu 1'
submitted Mr. Speaker, the amendment IN WV 49,
Il provides that all applications tor loans sha'' We
into five classeshe smallest class TO be st
and all undoub,ed paper, lin the Juos'nent :" Inv .e H.
reclory.) in that class to be irs' o,scouo.eu ~
secopd class To receive Ike oispositoh' ato SO "'
,broupb nil the clsses, to the maximum limit OH
not this rule perfectly fair and JUST BANKS are ,nsu
tinted orolessed!y least for the pe"pie, ohd not of
Gas n-;,r,J Decudtgrs This anne ndment arrests tneIr
nd,ncy and secures, degree, the purposes
of h.;, nrcinaI institution. And is II not better u
should be so. Is il moi beltt by numerous ana mooe
ra,e loans 10 "a up 10 competent and healthy ndepsn
dsnce b. mass than by enormous loans, build Up sha
class oS me,fhant princes? The one, living within the
hounds o., moderate DESIRES consuming no more OF the
wealth Of country than Is necessary tor subsistence
and comfort raising large families 10 habits OF Iugay
and industry; caivurg with jealous care chafec'ef
Cr ,,oh, and far alrg constitute IN part, the bone
and spew Of the county, npun which, IN the hou' W
difficulty and danger, Liberty may earessy ana conn
IDENTIFY repose The "ther class handling immense soS'
lose all lust idea Of the worth OF money-handng I'M,
nense sums it becomes full of prde van.glory ana
ostenatron The nordnote desires are geneFa'eo'
and il literally dresses in fine linen, ana iares sGnP'u'
ously every day l. falls an easy prey to Inc tempeI
Nor j, this ali The vice of this example aifec's 10
great extent the simple habits OF The RePubc' ano Sc
rously inpars the web of her existence. mat mere
ore many bright exceptions, readily allow. Bat as
general proposition, not the truth OF my sketch I'M
doubted,
But. Sir the relations between The banks and their
borrowers their social and moral aspect will be es
eenliay improved. Now, /, is too common, i"r those
asking loans, with esp in hand, crIngng men, syco
plant smile and tule of woe, to supplcate as favour
that loan, for which they have 10 pay IL IS Illuminating
the very SOUL it degrading to the proud spirit OF tine
free. But my proposition assures to every man as I'll
right the money he DESIRES # his paper is und1nbed
and the bank has money Ia loan Who can ia 10 appre
cn,e this noble difference:
But, Sir il strengthens The banks beyond estimation
Instead of hundred debtors there may he Thousand
The foundation Of the banks is deeprned and wdened,
and they Cannot fall Llrge debts frequently lost,
hopeessy and foTcvr Hlghfyers who tail, never d."
So without prording for The amiy and live The spHn.
did pouPer upon the acquisitions OF their own f"uI
frauds They aerer pay DIX. Such are losses when
endanGer banks and absorb their profits But small
deJIs rarely in danger, and when SO, are easily
secured Ii is a principle of honor with Ihose, who
owe Them, tina, they shall he paid appeal 10 every
Senator aud ask, if ii is not so: ! will mention "a a
striking and illustrative fact TINT the Savings lnstilu
ons Of this city haze been for fourteen years making
small loans, and have lost singr debt but "'",
and that by forgery Is it not iEcU Obvious, HAT Ia"
safely OF the Banks would te materially increased by The
adoption uf my Amendment;
Bu, gentlemen that we must trust 10 the oIscTc-
ton of The Banks this answer that has been dune,
and have shown how it has resulted But II IS asked,
if mean 10 impesch The integrity of the Bank Dr'c-
tors? To this answer, No. mean TO protect their
integrity against tcmpatIon and regulate their fscre-
ton We have q Constitution. under which we have
convened and by which we regulated; aud We haTe
laws which define crime and how II shall be punished;
bg hey do nc' impeach, lrus integrity, hut arse
out Of melancholy knowledge, that "iDan Is prone
to evil and desperately wicked. But is said lha; Tie
nmendmen; IDLE, because team easily be evaded To
this answer, if So Why oppose il? Blu, il canno, be
lent and unworthy practices, and then only To limited
extent Ii secures certainly maxinum limit. This Is
great good IL admits large class IF small dealers
now practically excluded, and this is immense ad-
vantage alters the mora aud social relations between
borrower and lender. II greatly strengthens and pro.
tec,s the Banks, and hope wi9l be adopted.
The amendment was finally adopted by vote o! Il
10 IL.