Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-01-05

committee had TO- to express themselves Mt once
and fully IN the matter In the a;,e nd.nent which il
was his purpose Ia Offer TO the report he would tcr
leave I" observe, That while it covered but one snrlt
subject touched upon in said report, he did not by an
means mean 10 give liz sanction 10 the many other
MS therein urged, although lie had not lhouoht
necessary u enforce them in the form Of an
He 81 oaion that that report did contain state.
inents Which would have influenced the Committee in
deciding ON tie character aud misconduct of the
different officers who came under review, to form a
judgment l"ss harsh than they entertained
lie thought especially that there were some very iuaort
ant facts connected with The cnnduc. of The Cashicr
that would have gone far 10 soften the judgment of the
Committee; but under The circumstances under which
they placed, it almost indispensable that the
attention OF The House should be confined to the promo
sion now before ticm.-He had not had time 10 take
any other course than the one which he was now IA
knight was not until the next morning. that the re.
port was prepared and presented 10 the Committee :
but there had been the day before sufficient indication
oil the sentiments ci the members of that Committee
and OF the conclusion 10 which they would come 10 cna
Bile him to prepare the amendment which he had to
propose.-He thought it wond not be in order 10
offer the anendnlcnt but he would briefly give his view
OF The SUBJECT lie presumed it would he Indispensable
Tor the course oustcc and The House would see the
proprety and necessity oft in enabling them 10 come
TO right conclusion in the matter that they should
have the two views in n printed form, and then he
thought his amendment might he brought forward.
The SPEAKER said that the amendment, if now pro-
posed, would be in order.
Mr.. RogERTsoH here read his amendment-rIp tho
paragraph Of the Committees report BEGINNING with
these words, in respect TO The Prcsidcnt &c. strike
out all after these words "aH such dutes as man from
time TO hmo DC required Of them respectively, by the
President and Cashier, and in lieu thereof insert the
fullowingl
.7mendment TO The report Of the Bank COMMITTEES
STRIKE out all after "Cashicr,'' 10th page
What mny he The precise extent and character Of the
duties designed to lie imposed the President BY the
terms "superntend the conduct Of all persons employ
ed IN the Bank, 1t IS difficult il not impossible to de-
fine. But whether any designed to be required
ny them, the performance uf winch would have led
that officer to earlier discovery of the extraordi-
nary fraud SO long successfully practised upon the
Bank, may, perhaps, be determined with reasonable
certainty. 1t seems to your Committee, there were
but two madcs by which such discovery could have
been made by the President; frst in the earlier stages
OF the transaction, by examining and casting up Green
and Alerrs account: and secondly, at late period by
count Of the funds in the possession Of the first tel
Ter But, in the absence, on the part of the President
OF any knowledge or suspicion Of irrenularty in that
account more than any other Of which there appears
not the least reason 10 believe any existed that officer
does not appear to your Committee blameable for
being ignorant Of the actual condition of it more than
OF all others: and as such examinations and revsas of
the numerous accounts OF large banking establish
men as would keep the President constantly advised
OF the state OF each Of them plainly impossible they
do not think he is Justly to be held responsible for VIC.
atlon of duty IN not, through such examinations
tanning knowledge of the earlier irregularities that
tend the origin of the dcialcaon. Similar considera-
tons go 10 excuse that officer for acquainting hun
self with the losses the Bank was constantly SUSTAINING
by personally examining and counting the eller's
funds. In connection with this part of the subject,
which respects the Official relations Of the President
wit, the subordinate officers OF the Bank, your Com.
mttee deem il proper 10 advert TO the resolutions Of the
Board OF Directors heretofore referred to- of the 9TH
February, 1889. These, it will be seen, more specially
prescribe the various duties Of most Of the officers Of
the Bank, direct the Cashier 10 that those duties
properly performed; and of delinquency on the
part OF any officer TO report the delinquent TO the Presi
dent Your Committee can ONLY view the resolutions
designed TO charge the Cashier particularly with
the interior control and management of the institution,
and modifying to that extent the duty Of general
superintendent devoycd on the President, by the
18th bylaw above referred to; and they are satisfied
they considered by the President Of the Bank.
No sufficient apology, however, has been offered by
that officer for suffering the Cashier to allow Dabney
to keep for months and years together the large amount
of funds daily shown by his settlement to be in his
hands. On the contrary, the Committee deem it 10
have been grave neglect Of duty his part not 10
have required the instant correction of loose and ha
zardous state of things and 10 have invoked If
sary, the authority of the Board of Directors.
Another means by which the President and Direc-
tors might have detected the defacaton before at least
it had proceeded very far, by count CT the
neys Of the Bank once month directed by the 9TH
bye law Ii is doubtful whether this bye-law ever
strictly Observed 1t is certain il has been but partially
pursued for long series of years. and for the last ten
years the settled practice seems 10 have bcen TO make
the count but once year. Your Committee can see,
however, little if any cIenuaton of the neglect at
any lime Of this requirement afforded b. previous
authorized practice and the President not only as
member Of the Board of Directors, but the Chief
Executive officer of the Bank, ought, in the opinion of
the Committee, mainly TO fall the blame of the omis-
sion.
Your Committee having now, as faithfully and
ratey they could placed before you the means of
estimating the "negect and misconduct" of the seve
raj officers of the Bank and especially Of the Presi.
dent in connection with the late extraordinary dealca
ton proceed TO the further enquiry referred to them
viz whether the interests of the State do not require
that the President shall not be be -eected,''
This question, it is obvious, involves a far wider
range Of inquiry than is satisfied by examination of
the Presidents conduct reference TO the particular
subject referred to the Committee TO be Investigated
If indeed that investigation had afforded the least
doubt the entire integrity of that oficer-is ge
neral diligence, his solicude 10 advance the interests
Of the Bank, his competency TO conduct its affairs
then, indeed would your Committee be constrained to
overlook every other consideration, and to recommend
that the mana cement of the institution should be placed
in other hands.-But if, on the other hand, there be
reason TO dstrust his fidelity his capacity, or to
doubt his general attention 10 the business and inter-
ests of the Bank, now has appeared to your Com
Hiiltee-i u moleu'el 40 ieiS ~
dencc shew for long series of years. the Bank OF
Virginia has, under his management, aeen conducted
with the greatest success, and as well at home az
abroad, enjoyed the fullest confidence, in degree pro-
badly exceeded by that Of other banking institution
in the Unon-ft further appear, as it docs satifactory
that the recent discharge OF his duties by that officer has
been exemplary and efficient and that the institution is
rapidly recovering from the blow it recently reeled
unde- we consider the peculiar advantages possessed
by that officer from his long familiarity with all the great
&C fhnp from gp Ytpuu lodi
as banker, and the confidence every where reposed in
him. all tending give credit strength and prosperity to
the Bank-if we that at time, when every material
fact yet discovered known 10 the general meeting
of the stockholders they decided that an immense ma
orty of votes that it against the interests of tho
institution that DIR. peterborough should re removed
from the Presidency of it-your Committee, in view OF
these various considerations do not feel warranted in
concluding that any considerations of public policy or
due regard to the future interest OF the Bank, re-
quire that the management Of the Institution should
pass into untred hands out of those Of lis present pre-
siding officer =.
Resolred, therefore, The opinion Of this Committee,
That the interests Of the State do not demand the re-
moval of John Brockcnbrough from the Presidency OF
the BAN, of Virginia