Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-01-04

hat he ~ss present before them with the late Ca
shier. on the day on which the fret written inter-
sogatories were propounded. and on which day fire.
quent references were made to the report OF the
commissioners appointed by the Executive, and
which he was not understood by the Committee to
contradict or to be untrue in any important
par'ieuar-certainly IN none specially set forth IN
this report, and this report 90 far as relates to the
President, Is founded on The epon OF those commits
soners, and the report Of the President msde to the
Directors In July, 1910, in which, after stating they
mad sustained loss OF nearly one seventh Of their
capital, or about Is per cent by the bad conduct
OF some Of their officers and aso that the President
Nnd Directors have relied too much on the vigilance
oi,he Cashier and he has relied too much on the pro
sy oil the teller;-rhey have not examined into the
funds OF the Cashier (which, in truth, are all the |
funds in the bank.) the bylaws rendered proper
and he has allowed the teller 10 retain moro money
~ his hand, than was necessary for the daily opera.
ions oil the bank. without examining his vault, nc
eording TO the bylaws and regulations for the interior
management ofihc Va. Bank, and the provisions Of |
the acts Of Assembly, adopted in 1887, add his own
Abatement that the late Cashier had been requested
to execute new bond, which he declined to do - |
they have not tet themselves authorized 10 withhold
their report, the subject be acted on mus, oc-
, cur next Tuesday.
The Committee add hereto the various written
questions and answers Of the Cashier, and tho
interrogaorcs addressed TO the President, to-
gether with the resolution Of the committee, re-
questing the present Cashier TO ascertain from his
physcians whether the state OF the Presidents health
would permit him to answer the responses. There
are also certain nterrogatories added, addressed to
the late Cashier, and which the committee deemed
proper not to PROFOUND to him, the witness be-
ing personally present when the questions were
submitted, ard objeciing, the COMMITTEES rejected
them, partly because they not deemed mate
rial now, because he was no longer Office, and,
the bank contemplated suit against him, on &C.
count OF his neglect, IL was not deemed right to in
Stsf IL.
liability TO the bank. The inteuogaiories were,
however, founded upon the provisions OF the pre-
vious written answers Of the Cashier, the regula-
lions OF the bank and certain limitations which had
come obsolete.
Resolved, therefore, the sense of this Committee,
That the interest Of the State requires that the
President shall not be elected.
Mr.. RoBERrsoN expressed his regret at the course
pursued by his friend IN offering substitute for the
report just read, more particularly that substitute
only amounted TO an additional course of reason ng,
arriving at prec sely the same conclusion. The
great point which the House would have to decide
was clear to ali, and the substitute would bot en-
barra's their decision, which was the more TO be
regretted inasmuch es there was n necessity for
almost immediate action. The question for them To
determine, was the proprety OF retaining or reno
wing the present President. He had not been able
not being in committee this morning, TO be so fully
Impressed as he could have wished with what ough,
TO be assumed the bass Of the conclusions Ia
-,
familiar with the principal report of the Committee
which, being shorter and more simple than the one
offered as notwithstanding, too, all the ground
mat II was important TO overwhelming the SUBJ
Ject, as II appeared TO him. in full point of view
as was necessary TO enable that House TO tome to a
lar and just conc!usion;-he trusted that they
would not accept the substitute just Offered. To
the report oil the committee he had amendment
TO offer, which would enable all who did not arrive
nj the conclusions the committee had come to- TO Il
press themselves at once and fully in the mater
In The anne ndment which il was his purpose to offe
TO the report, he would be. leave 10 observe thu
while II covered but one single subject touched upor
In said report, he did not by any means mean 10 Civ,
lbs sanction 10 the many other points therein urged
nthoush he had not thought il necessary TO eniorc,
them IN the form OF amendment. He was o
opinion that that report did contain statements
which would have Influenced the Committee i'm de
eidng on the character and misconduct of the dill
terent officers who came under review 10 form q
Judgement less severe or harsh than hey entertained
we thought especially that there soms yer,
lmpo' tant facts connected with the conduct of Tho
cashier, that would have gone far soften the ude
ment OF the Committee; but under the circumstance.
under which they were placed, It was almost indis
pens'be that the attention Of the House should he
conhned TO the proposition now before themAtnl
had not had time 10 take any other course than the
ono which he was now talSlng;-it was not unit
that morning. that the report was prepared and
presented TO the Committee; but there had been the
day before sufficient indication of tho sentiment
OF the members of that Committee, and of the con.
clus'on TO which they would come to enlble him ,o
prepare the amendment which lie had 10 propose
lie thought II would not now be ia order TO offer III,
amendment; but he would briefly give his view q,
the subject. He presumed 1t would be indispen.
sable for the course Of justice, and the House would
see the PROPHECY and necessity Of it in enabling
Them TO come TO a right conclusion in the matter
that they should have the two views i'm a rrin.ed
form, aud t;en he thought his amendment might be
brought forward
The SPEAKER said that the amendment if now
proposed would be in order.
Mr. RoBgRrsos here read his nmendmen,-Ttp
me paragraph OF The Committees report beginning
WIN these words an respect 10 the PyssiS.af" sc.
strike out all after these words "aH such duties as
may from time 10 lime be equrtd Of them rsspseirs-
w. BY the PresideA and CASHIER and in lieu thereof
insert followng:l
amendment 10 the report Of the Bank Committee
Strike out all after Cashier" 10Th page.
What may he the precise extent and character
OF the dues designed TO be imposed on the Pre-
pldeni by the terms 'superinen ,aa conduct Of all
persons employed IN the Bank" IT is difficult if not
Impossible, 10 define But whether any were de-
signed To be required by them, the performance OF
which would have led that officer TO an earlier dis
eogery OF the extraordinary fraud long success.
fuIy prietlsed upon the Bank, may, perhaps be
determined with reasonable certainty IL seems 10
your Commute, there were but TWO modes by
which such discovery could have been made by the
president; FIRST, 10 the earlier stages Of the ransac-
ton, by examining and casting up Green and Mer-
Iliis account ana secondly, at late period, by q
count of the funds in the possession of tho first TEL
sr. Bot, IN the absence, the part OF the Presi-
dent, of any knowledge suspicion Of irrosulsrity
In that account mors then any other, of which
there appears not the leaEt reason 10 believe any
existed, that officer docs appe IT TO your Com.
nltee as blemoaDle fos being ignorant OF the actual
condition Off more than all Others; aud as such
examinations and revsiS Of the numerous accounts
OF large banking establishment as would keep III.
President constantly advised cf the state of each o
them, Is plainly mpozsir le. they do think he IS
justly TO be held ponsible for violation OF duty in
no, through such examinations, atteining q knowl.
a.. NJ the earlier Irregutrtts that attended the
o,S, NJ ,bs d.f,lc,.an. Similar considerations 20
to excuse that oHe.r e.. not ucquai::"-, himself
with the losses the 3 INK was constantly susia;9'n-
by personally examining and counting tho toller's
funds In connection with this part OF the subject
which respects the official relations of the PTesi.
dent with the subordinate officers Of the Bank, you
Committee deem il proper TO advert 10 the resolu
tons Of the board Of Directors, heretofore referred
TO, OF the 9Th February, 1889. These, II will bt
seen, more specially prescribe the various duties
most Of the officers OF the Bank direct the shier tc
sec thot those duties properly pofformed; and IL
case OF delinquency on the.part Of any officer to rc
port the delinquent to the President. Your Com
mittce can only view the resolutions as designed Il
charge the Cashier particularly with tie int
rior controul and management Of the institution
and rs modifying 10 that extent the duty Of geners
supcrintendanee deyolved on the President, by ID,