Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-12-15
GENERAL ASSEMBLY OF VIRGINIA.
HOUSE OF DELEGATES,
Wednssdoy, Dscembcr Q.


Hednesdoy, Deeembcr ..
BANK OF VIRGINIA.
THE following is the conclusion of the Debate on
taking up Mr. Stephenson's resolutions
Mr.. STEPHENSON Of Tyler rose for the purpose Of
moving that the resolution might be laid the table
The resolution it stood, cut off the most I'M
portan part of the enquiry viz an enquiry into the
conduct of the officers Of the bank, for he was of
opinion that if the officers of that bank had done their
duty, it would have been impossible that the immense
defacation which had astonished and alarmed the
State, could have ensued. He thought it necessary 10
enquire whether the officers placed that nsttu-
ton and receiving large salaries from the country for
the performance Of certain duty, had performed
that duty not lie anxious that that House and
the country should know who really was the party
that had neglected his duty, and to whom they were
to attribute the present position Of the bank this
specific enquiry was not comprehended in the amend
ment just adopted by the House. He knew that it
would be said that the President not in fault, that
he ignorant of the defalcaton, and that he had
been exoneraed by the stockholders and directors
from all blame but it clear that was in
fault and it the duty of the House to ascertain, if
possible who it was.-H He wanted full and searching
investigation into the whole circumstances Of the
case.-Surey that object would not be objected TO by
that party the House that professed to be the anti
bank party.
Mr.. TuysrALL in the same position as the gen.
eman from Tyler, and must vote for this resolution be-
ing laid upon the table He was in favor of search
ing investigation into all the circumstances of the Bank,
and into the of the late defalcaons. He was
anxious, too for the public to know who really were
the antbank party in that House. short time ago
they heard of nothing but the wild cry of Banks, and
of the necessity for the strctest control over, and
vestigaton into the affairs of this Bank but tie
opinions of gentlemen on the opposite side seemed TO
have changed; the current had set in opposite dr.
rection the wind had shifted and they set their
sails for different course. He, like the gentleman
from Tyler, thought that the Committee Banks was
the proper tribunal to investigate this subject and they
ought to have full power investigate fully into all the
circumstances of the
Mr.. MAY thought they might get over the difficulty
by making little addition to the resolution of the gen.
tlenan from Albemarlc. He would suggest that the
following addition be made 10 the resolution "and
that the Committee enquire and report how far the said
dealcation had been produced by the misconduct
glect of any of the officers Of the said bank
Mr.. Coles had no objection to this. His only object
to have the most searching enquiry, and it with
that view that he proposed that the matter should be
ferrd to Select Committee.
Mr.. McRAE said that although the resolution as
amended now much more comprehen sive, yet it
open TO the great objection Of being referred to
Select Committee, instead of to the Committee on
Banks, the only proper we'll as the qualified bo
dy to Judge in this matter He advocated at length the
propriety of the course which he recommended, and
should vote for laying this resolution upon the table
Mr. GREGORY had still further addition which he
should propose to add to the amendment He made
the proposition last year, which then met with
no favor from the House; but had his proposition been
adopted they might have been startled by the
immense dealca,ion which had been lately brought 10
light He would propose to add TO the amendment,
sand that said committee ascertain by count, other
satisfactory evidence, the amount of the specie and
bank in the vaults of the Banks in this city, and
report the ofnotes and specie in each of said
Banks to this House.
Mr.. MAY urged that no good could result from the
adoption of the amendment. 1t could not prevent the
defalcaton which had already taken place. would
it be any safety to the public, nasmuch as the specie
must Immediately be given back again into the hands
of the officers. If the committee had this additional
burthen imposed upon them it would be impossible for
them TO make re port before the end of the session.
Mr. ROBERTSON defended the officers of the banks,
and stated for them, that they were most anxious that
the fullest and most perfect enquiry should be made
INTO the whole of their proceedings.
Mr.. STEPHENSON should vote against the amendment
Of the gentleman from Williamsburg, because he be-
eved that no benefit would result from its adoption