Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-04-25

OF a judg meni not less clear and peneirating. and far
better balanced dian that of Mr.. Calhoun himself
to dissent from his seni-barbdrous views, and IN ,
pose a measure which he believes will be ruinons
to the country. We again ash our readers to give
it an attentive perusal.
DIR. BROCkENBROUGu-TIlE BANKS.
Some days ago we stated thai the restriction,
contained in the Bank bill passed during the late
session of the Legislature, =" were imputed to the
President of the Bank of Virginia" by one of the
most distinguished members Of The House Of Dele
gates and We might have added that the charge,
although made by that member on the authority of
rumor, was not denied by the City Delegate, WHO
merely expressed his ignorance of the existence Of
such a rumor, and his own disbelief of lis truth.
Coming in such an imposing shape, and remaining
SO long uncontradicted, we took it for granted that
the a~soription oftle authorship OF those restrictions
to that distinguished gentleman WIS well founded
and we consequently suggested as the most appro-
pirate measure for the protection Of the interests of
the State in The several Banks, that her proxy should
be instructed to vote against his reelection as he
President Of the oldest and mos, influential institu-
ton Of The kind in The Commonwealth II the ru-
NOR had been true. we have seen no man who doubts
lIldt iIlIS sup Nouiu nave Dccn Dotb HtCcsSdIy ~
proper. But we now stttc, on the authority both Of
the Richmond Compiler and EuquiIet. that the
President Of the Bank of Virginia al nothing al ali
10 sag about the restrictions imposed by the lais law
while it was pending, and that he disapproved of
Them"
The President of the Bank, however, will permit
US to say, that, as he disapproeed Of those reslric
lions. ii might have been well if he hal said some
hing q about" them, to those, by whom, if we may
Judge from his party assertions and his we'll known
influence in all financial questions, his opinions
would have been listened to with SO much respect,
and perhaps yielded to, when the proteslations of
others would have been as UNDECIDED as the idle
wind. The guardian ofthe interests Of the Bank,
was he faithful 10 his trust in permitting the incor-
poration into the Bank law Of restrictions Of which
he disapproyed, without at least cndeavoring, by
single appeal to his political associates, by whom
they were devised, to prevent taeir incorporation into
that bill (! Has ii been his habit heretofore to be
thus inactive, when the interests Of the institution
over which he has so long presided, and those ofthe
State, so closely ideuiifed with those Of the Bank.
were il peIilled by these Loco Foco experiments !
Il .not, why was he so strangely silent on This occa-
sion
Again-Do we not sec the President Of the Bank
of Virginia actively taking the field, in behalf of that
very political party by which these " restrictions OF
which we are told he disapproves, were incorpora-
ted into that law, aud by which party, if they gain
the ascendancy in the Stale, they WILDE perpe,ua,ed,
at least until the pasied energies OF the State, her
crippled commerce, her dropping agriculture and
her exhausted resources, shall arotse the peopfs
to a just sense of the danger into which these W.
Il -. - III h. H.. Il
they shall again return to those old paths in
which they have heretofore walked in safety and
prosperity : One of the most odious of the - re-
strictions' of the Bank bill was suspended by "A law
hastily passed in both Houses on The last day Of the
session, upon the earnest appeal of the President Of
The Farmers Bank, who deserves, for his timely
suggestions on that occasion, the thanks of the
whole Commonwealth. Had the period loi tho
commencement of the operation ofthat restriction
not been deferred, the Banks would have been com
PEELED not only to have refused all farther loans. but
immediately to haye commenced a system OF rap'o
and extensive curtailments, which would have been
felt in all the avocations OF life. Commercial men
would have been stript Of their resources-and tho
tobacco, the wheat, and every other article OF mar
ketable produce would have been reduced fully one
third in price, for the mere want Of means to pay Tor
them. Indeed, there is no imagining the bllshttlat
would have fallen upon every department oil 'no"s'
try. Yet the President of the Bank OF Nifg'nia'
we are told, = said not word about lie Ought
10 have said a word, most a~ssuredly. his pos'uoh
and his influence alike, in our humble opinion' re-
CURED ii at his hands. II, therefore, he Is not cen
surable for suggesting these restrictions as "'
c~hecrfuliy conccde, upon the authoritative ae"'a'"
The Richmond papers, that he is not, he certainty "'
though perhaps to a less extent, for not pro'eS''s
against, aud endeavoring to prevent the adoption %
them.
Its not one of The least Of our objections to "e"''
c%endancy oiihe Loco toco party in this State 'ha''"'
Gripping of The Banking institutions, by RESTRICTIONS
rs absurd as they are mischievous, will be one '"'
certain aud immediate consequences. Inc '"'e'
diclion of IS and $40 notes, though one oil the 'fas
of the evils TO be apprellendcd, will be a serious u,
conveniei &C 10 the community, in deprivlng t'e""
tlse tuo.t useful denominations OF DotcS--dn inSoi