Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-12-12
rp,roRs' CORRESPONDENCE.
RICHMOND, Dec.

I,ah
nv. B,fd. McRae and Nenable rartiri pated
.,l al,,r II e adoption Of very immalcriai amend
mis-. Mr.. Yenable's remarks were distinguished
y, strong, ptacica everyday sense. lie said lha'
housb The bill pufporIed 10 be bill for the relic
fs Banks it was, in truth, bull Tor the reid Of Ia
.,o,le of this wide Commonwealth Who, ht
a,tca are Banks Tie Sfate is interested III then
;. ,be amount Of millions oil dollars. about one
h,lfo( their entire capital. 1t was then. 10 reliev,
al. ,eyenues ofihe State TO that extent. from TIA,
,,nalties and damages imposed by existing law,
,non non specie paving Banks that this measure
nenled TO the Representatives of the people
And farther, he asked, what 10 become Of til,
abundant crop OF tobacco, wheat and corn, viii
which Providence bad blessed US, if the Banks were
10 remain feered as they now are, and the resour
ces of the dealers in those staples summary cut off
So far as the individual stockholders in these inst
tulons were concerned, MI Venable expressed the
belief, that, restricted they were. and IN the face
Of an increasing disposition to cranlp The bene-
fetal action oil the Banks, most if not all OF them
would chcellully the Banks wound up, and re-
n seiye back the OF Then stock which, he tru
f1y said, in the new State fittings which would re-
suit from their abolition. would enable tlen to
make investments III "tIer VI pei
haps five times its nominal value.
Judge May declared, in the Of his remarks,
tha, he had appre tensions as TO the fate Of those
institutions. Although all the odium Of defending
and unfolding them had been thrown upon the
Wings yet lie did not believe majority Of The O.
Their parry could be persuaded, coaxed, driven TO
DESTROY them Mr. do |. Were the Wings as
some of them disposed TO do, to abandon the
Banks TO the tender mercics Of t.eir assailans
-weie they 10 say, gen tlenen, bring in your
proposlioas, and W. will acceJe 10 lhem-lf gou
can bring about that golden millennium by legis-
laive acts, of which you have SO long been in pur-
suit. but which, like the shadow of some moving OBJ
jcct, has perpttually euded your grasp, go on and
accomplish you purpose-we will concur in all your
propositions the Wings to do this not one
OF all their number-.ar if one, he would find no
supporters,-w oud have the boldness TO 'cry havoc
and let slip The dogs Of wal" They are TOO intel-
gent, and have too Just perception Of the food of
evils hch would pour in unon the land to hazard SO
perilous an axperiment--an experiment in which all
would be sufferers, except the f0 who owe no.
thing, and 10 whom Others are indebted. And is
that dcmocracy,' which would PROSTATE the MANY,
ior the benefit Of the few! If ii is, it is Of near Kin
creed. by which One Man is made the sole law
giye OF the Republic, by his bold dictaon to the
Representatives of the People. | am well aware
Of the pre- udce which exists against Banks bu,
seems 10 me that the most bgotcd denouncer of these
institutions most have al least flht conception of
the evils which would necessarily result from their
sudden destruction, either by a legislative etIct to
that effect, or by the imposition upon them of such
hard and fia conditions as would compel THEN
stockholders, in self defence, to wind diem up. In
sustaining them, The Wigs have no more personal
inter- 81 llan then political opponents. The hold
ers OF their stocks may be found indscrinnately
scattered among both parties, and those WHO re-
ce"e accommodation from them are so likewise
But The hIgs, IL is sud, advocates of The a.
oases oil lie system. Not They are now, and
lucy nave ever been, willing 10 profit by the lie ssons
o'cxperence, and to engraft upon tie charters of
Banks every provision which promises in the re.
hottest degree, TO check their evil tendencies and In
conilne them within safe and saIulary limits All
that they protest asainsti, the Incorporation sueh
nciples in their afers as will. by des,,ovi,,
Their capacity for usefulness, effectuay subvert the
system Iiey sec no reason nor propriety in frt
tiers and restrictions, which, il adopted must de.
n
der capitalists unwilling to invest their funds in H.
In one word, Banks are either useful or lhey are
not II they be not why do rot those by mho,s
hey are depicted as chartered monsters, proving
upon the v'tas of the country, tchere Mcv hare The
Po'oer as IN Pennsy lvania, Tennessee Maine &c de-
molsh then at once? The fact that they not only
'o'efa'e' but con inuay strengthen the system, by
"us'hehting The number Of Banks is a conclusive
"n"ef 10 all Their loud hut hypocritical, denuncia
ions Ut the system itself. They are content IN
proh' by the policy, ulle they cunninely enlist non
uar prejudice on their sides by cnectipp to be hos
oie 10 lit is probable the Senate will anp,1 .,
probably Change the character of the law passed Inv
the House. =
To-day, MI Chapman of Monroe, Il presume in
accordance wiki the decision of the Drmoc,,,ic
4 caucus held last nighl,) offered resolution. pro-
posing TO proceed Monday next, to the election
3" United States Senator, to supply the va
eaney oecasloned by the expiration of the term
OIL William c. Rres, Esquire Mr.. Dorma,
opposed the moton-on the ground that sew
.ia members of the Legislature were, and wopl5
W. '' MONDAY next necessarily absent Finally, the
" ~" was laid on the table, by avoie Of 81 to &C
"e ''fe mention OF this agilatng topic kindled at
"ha'the Enquirer calls the "artiiciaI Gallo :
~ and i was very apparent that il the discussion
'een prolonged, there would have beet heat e.