Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-02-06


communicate them 10 the Legislature, with such recon-
menGalions his wisdom might dictate.
In truth the Banks constitute subject peculiarly
demandin free and foil interchange OF opinion be-
tween the Legislative and Executive departments
But it is said that the charter is compact between the
Stockholders and the Governmcnt-and should the Lee
gslaue dvest the Executive OF the power OF appoint
ins the Directors, it would be breach OF the coi-
pact. <,
NV answer this is, that tie po'cer is left to the
Executive unimpaired-that if the resolution should
pass he appoints the lawful number of Directors and
lust such may comport with his pleasure.-Ihe re-
solution does attempt TO command, but on the con-
trury implies that there is obligation to comply
From the foregoing considerations, conclude that
the House has ample authority TO pass the resolution
II Is it the duty of this House to pass il?
This inquiry involves the nature and cause OF the
late defacaton, and the management OF tie Bank from
its foundation TO the present time.
This branch of the subject has been so thoroughly
discussed by gentlemen who have preceded me, enarg
ng they have DONE all the de tais OF the dealca-
ton and the circumstances connected WIN II, that
shall dispatch this part Of the subject with that brevty
which the Exhausted patience Of the House demands;
and with this vew shall present summary OF points
conceded, rather than m expanded argument. de-
falcaon exceeding half million, exists IN the Bank
of VIRGINIA 1t is admitted that various laws and regu-
lat;ons intended as checks the officers and guards
on the money and funds, have not been Observed
that had these laws and regulations been enforced the
defacaton in all human probability, would not have
taken place-that the President, the head Of the in
stitution is bound TO that the laws are faithfully
executcd-that the subordinate officers perform their
duty: in ine responsible for the management of the
Bank. This responsibility is admitted generally
Gross negligence, 1t is conceded, prevailed i'll the
Bank and the question arises whether the negligence
is Of sufficient degree to justify the rejection Of the
present President. If the loss of half n million OF
dollars under the circumstances attending this dealca
ton, and the negligence which has prevailed in the
management of this Bank for many years, do not call
for change in its administration am at loss to con-
ceve what will.
| Believing, as | do, that Banks are only useful
but necessary TO our community, and that their
preservation depends on proper administration, this
subject rises far above contest between the State
and an individual II could consult emotions which
gentlemen so eoqucntly invoke to their aid, my
would be different from what it will be- My sense OF
duty, however consrans me TO vote against the motion
indefinitely TO postpone.
Mr. LEE said that he spoke with candor, when he
said that he had not intended to participate IN the pend
ing debate. DR.. Brockenbrough prominent and
conspicuous member OF that party with which he (Alr.
~ was usually found acting and he had thought II
might be as well to permit the defence TO be made, as
the attack had been commenced, by gentlemen upon
that floor of different political sentiments, and he kne W
there were several who thought the resolutions under
discussion wholly indeinshle, and who, however much
they might differ with Dr. Brcckenhrough, politically
would step forward and lend willing hand TO screen
him from unmeri,ed obloquy and punishment. But as
experience had shown that human ingenuity in impart-
inr motives was unbonndcd-as gentlemen had seemed
to think that the political friends of DR. Brockcnbrough
should come forth and show their hands, and The very
significant inquiry had been made, (i not IN debate,
at least III private conversational whether gentlemen
feared To take upon themselves the odium al de-
Tending President Of Bank, Mr.. Lee had determine
ed Tor one forward and express his views upon
the subject; aud contribute his mite 10 the defence OF
citizen, whom although Bank President, he deem
ed uniusy assaulted by the resolutions which
I hal ad s,t la nj
If there be responsibility attending this COURSE
there be odium attached to the attempt to ward oil from
the President of the Bank Of Virginia attack, he
believed unounded and unjust, and to defend him from
reproach which he deemed unmerited, and from pu-
instrument he thought wholly incommensura,e with the
offence of which he had been guilty, taking II in the
very aspect in which it has been presented BY
those who had portrayed in the strongest colors,
then Mr.. l.. for one was wiliing-nay, he was eager
and DESTROYS to bear his full share, and would glory
! SO doing.
Mr. l.. thought that the inrcst CATION which had been
made b. the committee Of this House, and according TO
its order, right and proper. He did not deny to
this body the right 10 examine into the affairs OF any
public institution in which great public interests were
involved and to search all and any abuses watso-
ever in their conduct An astounding dciaicaon had
occurred in a banking institution i'll which the State
was deeply ntcresed: and therefore 1t III every
sense proper that all the facts and circumstances
tending i, should be thoroughly Investigated and made
known TO tins House and The country; and nctwiti-
standing tins task had been performed, aud well perform
ed, by the Commissioners appointed by the Executive
shortly after the dcalcation was discovered, yet he
deemed il right that the ground should be reviewed by
a committee of this body composed Of the immediate
representatives Of the people, IN order that any fact
or circumstance which they might have overlooked,
might be made known any Of fact or reason
ing into which they might have fallen, pointed out
and corrected. But while lie fully approved the ac
ton Of the House in raising committee for this pur
pose, and although the report itself bore ample tcs'
mony to the zeal and fidelity with which that commit
tee had discharged the duty imposed upon thcm yet
dissenting as he did, from the conclusion 10 winch
they had arrived as propounded in the resolution
recommended by them for the adoption OF the House
and also from that contained in the resolution &C
companying the substitute submitted by the gentle
man from the Borough of Norfolk (Alr Iaylorl-
differing also as he did, from the gentleman from ~
Ter (Nlr Scplcnson) and the gentleman from Isle o.
Wight (Mr. Smith,) in the views taken by them o
this subject, indicated by the resolutions submitted
by the former. and the substitute therefor proposed bJ
tie latter-and concurrng, he did, III the amend
menl proposed BY the gentleman from the Cily .
Richmond, (Alr RobersonD 10 the report of the com
mi,tce Mr. H. should, Of course, sustain by his vote
the motion of the indefinite postponement oil the reso
u,ons of the gentleman from Tyler, and the substitute
for the same submitted by the gentleman IRON Isle o
Wight
MIR L. thought there 4 palpab!e and obvious oh
lection the proposed action Of this body, 10 he .nun'
in the fact that the question Of the reelection OF DR.
II BrGckcnhrOunH rs PRESIDENT oil the OF
was no longer he considered open one, hui hat
virtually been settled by The action othe stockholders
Certain il was, that action that could be taken il
that body could the election ii any other ndi
ydua The stockholders in the Bank III general meet
me assembled upon the day prescribed N the charter
lad proceeded TO discharge the duty which dcvolvct
upon them of clcc,ing five Directors required b.
law With every fact and circumstance attending The
late dedication before them, and doubtless fully weigh
ed and considered-wth all the lights that had beer
or perhaps could be, shed upon this subject, Gor Mr.
h. believed il conceded the Committee had brought
10 light material fact or circumstance attending
this dcialcaton not already elected in the report o
a the Commissioners appointed by the ExecutivcD tho
stockholders had declared by decsivcnay, an over
whemins vote, that in their opinion, their interes
would be promoted by the reelection Of DR.. b., an'
accordingly had elected him Of the five directors t
be- chosen on their part, with four others pledged Il
support MS reelection as Presdent.-The law will no
10 VAN thing. Why should that body, composed o
.v,,acrs he betrayed into action tina, must fail 10 nc
I,. 81 sfp,,l,