Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-06-19

hliss IA the long established nraesics % ressiy;av ;,
=" ha"a CHECKS upon another, passing Jhem immed.-
ateiy 70 the credit Of the depositor wlthoa. enouiriou
whelner they are good, and drferring until the ne i
day ,ne settlement Of them. How far this practice
VIII aoHat OF change, without Inconvenience, is for the
consideration OF Others. As at present regulated, il is
liable and has led 10 great abuses.
J. u answer 10 the enquiry which we were directed to
MAKE, whether any of the bye.laws Of the bank, or of
the general laws regulating banks, have been violated
or neglected, we have to report, that we have not dis.
covered any such violation or neglect deserving notice,
except IN me following particulars, which have refer
ence 10 the 9Th byelaw adopted in lS04-the 18th and
i4tn regulations for the internal government OF the
pa'K, ADOPTED m leO5-and certain resolutions of the
n'afa OF the 9TH February, lc31-cop:es of which are
herewith returned.
ne TN bye-iaw requires that 4 Committee Of the
Board, consisting of al least three members elected
monthly oy ballot, shall visit the vaults in which the
casl ana other effects are deposited al least once in eve
ry month, and make an inventory of the same, 10 be
compared with the books in order 10 ascertain whether
they perfectly agree there with.
ms oEe-law appears never to have been strictly re-
garded Down TO the year lSl6, committees were ap-
pointed under It varying in number from ] TO 6, and ge-
morally $ each year. In lel7 and ISIS there was no
committee. From that time 10 1880 committees were
appointed varying from to 3 each year. Since that time
a committee has been annually appolnted-and the last
examination ofthe vaults, preceding the flight ofthe first
teller, was made on the 10Th January, 1889. In practice,
ior many years past, the examination OF the vaults
seems 10 have been always nearly contemporaneous
with the destruction Of the notes selected as unfit for
circulation, and therefore cancelled. There was an
OBVIOUS convenience in this arrangcInent--and the
two processes requiring no little time and labor, each
was postponed until both could be performed.
In respect 10 the 18th and 18th regulations and the re-
solutions of Feb. ), 1889, we have asccrtained no facts
worthy N our opinion to be reported, except such as re-
late TO the amount of money placed or permitted from
time TO time to remain in the hands of the first teller.
I pom this subject our enquiries have not been carried
back beyond the year ls26, the reports of the vault COM
mittees prior TO that year not being entered on the mi
nutes. BY the reports of that and the subsequent years
all OF winch are SO entered, we find that at the cXaini-
nations Of the vaults from 1896 to 1870, the money in the
teller'S hands varied from about 500, 900 10 less than
800, 000-from 1870 TO 1886 inclusive. il IN no instance
much exceeded 800, Oo0-in 1887 il exceeded 800
000-in le3S, ,200, 000-in January, 1889, $3.50, 900
and at the time OF Dabney's flight, on the close of I'd
April. $40, there should have been in his hands, ST.
$4,000 30.
We submit these facts without comment-and in re-
spect to 50 much Of the regulations and resolutions re-
ferred 10 as concerns the superintendence of the con-
duct of the clerks, the inspection of the accounts Of
individuals, and other particulars OF the internal admin
lstratIon of the bank, we can make no communication
winch would not be very imperfect and might not be
very erroneous or unjust. Indeed we have prescribed
it to ourselves as an inlexible rule, to confne our report
10 a statement OF facts merely, except on those subjects
upon which an opinion seemed 10 be required from us
by the terms of the commission or IN explanation Of
facts. We have not considered it as within our duty
to accuse or viudicate, TO express appreciation or cen
sure in any case-and We have only 10 add, that no in
ference Enfavoratle 10 tbe Bank or any Of lis officers
can Justly be drawn from our silence in this regard.
All which is respectfully submitted.
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