Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-01-28

heen n The head of the Bank Of Virginia, from the pc
Rod of its charter to the present time, and am con-
tent that he should have the credit of conducting
s.through sunshine, storm and snow
MIR. Spenker-1hat we may appreciate iuliy Tue
GREAT financial ability with which this Bank has been
managed, beg that gentlemen will examine the STA
tstical report the Commissioners appointed TO seek
into the condition Of the Bank, and the extent OF 'e
defalcation where, IF mistake not, and II DO ne
sire 10 be corrected it will appear the face OF the
statement that on the 18th day of juno lelu, Inc
amount of the unavailable debit in the Bank Of VrgI-
MIA was 81 Ss 7g7 IS cents, exclusive of the James
River stock, follows: ,,, 40
prn,es,ed notes and bills (disc'D 5l7,325 90
Deficiency of late Teller, DILL. W.
o. D,of,s I02366 81
Da Nh, S:36sD G.
ST ,3os 797 95
to which amount if the James River stock should pe
added the unavailable funds will be about ) ,-ooou"
40 whereas the original capital was about Sl,oeO,0oo
CO. | do not mean 10 assert, thata considerable part
rthc unavailable funds are not TO be ultimately avau
ble | nm sure they will br, and understand that
larce amount is secured, and VIII ultimately come ho
the Bank lfthese exhibits are evidence al "super'oF
financial abilities and skill i'll banking, and 10 deprive
The Bank of which, would render 1t necessary To wna
No lis affairs but express amazement That snch
conclusions should obtain: and should ike TO " m
formed why is that this bank IN worse conu'''"
cause and that has been operating Tor long TIM
and that is, negligence ...-....a..;..,
for us 10 discuss and gentlemen may attemp; To esadt
il f they please but the fact is nevertheless So Nfg"
n,ufc has characterized the conduct OF lhe PRESIDENT
and Cashier for months and years past ne PRESIDENT
admits IL in his address 10 the stockholders lie says
s.And freely admit that more confidence from that idc
falludinr TO the long period OF hme) has been enter
,,ned Than can be folly justified. And again. "Ihe
4 bnyp rpIIp l IL
GLANCE Of the Cashier and he has relied too much
| The fidelity of the Teller
| And the Committee appointed by the House Of De-
lerates 10 enquire into the Shoe subject IN their re-
nnrt. state as ollows-"The Committee desire no, %
be understood as casting unmrred reprcach nn either
the President, Cashier Directors: and feel con.
,nced ha, none cognzant Of the facts OF the deiaca-
ton can Justly mputc to any OF them greater cehsure
than pertains omlsslon-ailure to perform, as they
ought TO have DONE the duties enioned upon them re-
spectvely and for the due performance OF which, the
stockholders confidently relied
In addition 10 this direct allegation of neglect oil duty
by the President, have only to add, that the gentle
man from the city of Richmond tNr Rob"rtson) has
admitted in debate that he was guilty OF srare neglect
of dutb and the gentleman in his amendment to the
report Of the Bank Committee, holds the following Ian
ruaoe: ssNo sufficient apology, however, has been oil
ercd for suffering the Cashier TO allow Oabnrv 10
keen for months and years together, the large amount
of funds daily shcwn by his settlements to he IN his
have been grave neglect Of duly on his part not 10
have required the instant ton OF loose and ha-
zadous state of things, and I" nave invoked, ne
cessary to that end, the authority Of the Board oil Di
rec,ors" And so, indeed, has every one who has
snoken on the other side md why such "grave neg
ec Of duty the part Of the President, filling 20
dirniiied and responsible station, and charged with
the care and controul of millions OF dollars should go
unpunshed leave those to determine who espousa his
cause and plead this floor for mercy aud tor place
told ~ fhp could look
the transactions OF the Cashier inspect the books, and
conduct the correspondence, (Which, by the oy am
/ informed il mostly carried on by the CasherD ana
manage the fiscal concerns of the Bank; and there
fore ought not he held responsible for defacaon Of
more than half million Of dollars and which was &C.
curing more than twelve months.
Il What are the duties, then Of President OF Bank
if he is not to have an eye over every Department, =
Not that he is to perform the labor OF book keeping
balancing accounts &c. but that he is 10 supernend
the whole Transactions Of the Bank, and TO see and
know that those who have the various transactions Of
the institution PERFORM do their duty, and likewise
10 see that he (the Presiden) does his duty.
And beg gentlemen To recolect that the late Pres
dent of the Bank Of the T. s. always held espon
sible for the action OF that institution, and for the osse:
it sustained Dr.. Brockenbrough contends that nc
could not be expected to take notice OF the accounts
his customers. But as Green $ system OF over-check
ing was carried by substituting checks on the Far
mers Bank. ought not the President to have noticed
The variation between the accounts OF the Farmers
Bank and the credits allowed that institution at thu
Bank Of Virginia. and which could not be carried OF
but by the connvancc Of the book keepers OF the Bank
of Virginia. and do not doubt but that had the Pres
dent caused monthly balance sheets to have been made
out and submitted to his Inspection, and compared
them with the books, (Which understand have no
been balanced for yeas this detalcaon could no, have
occurred.
Mr. Speaker, it has been suggested-nay, insisted
upon by the gentleman from Richmond that this grave
neglect of duty and the consequences resulting there
from will make DR.. Brockenbrough more active ant
yrilant officer in future. Sir cannot bring my minc
TO this conclusion; for, regard the neglect and ms
mana cement of the President evdencing want o
those qualifications which necessary to the eiilcen
management Of such institution Such habIina
Il negligence, cannot suppose is attributable 10 nccden
or any engagements connected with the Presidency
the Bank confidence in the other otncers but re
suits from the particular organization OF his mind-i
mind incline to believe, not we'll suited to the dry de
tails Of large moneyed corporation. infer tins iron
knowledge of the construction Of my own mind, anc
from the observations of others. But SIR, however tins
may he, am unwilling TO give my sanction to the prin
cple that malirasance office will the better qualify
the individual BY maeasance, mean neglect and
nattenllon; and one, IA: know or am informed
attributes the abstraction to any thing more.
Mr.. Speaker, have you adverted 10 the argument Of
the gentleman from Richmond What, sir negligence
beget diligence i-habitual and long -practised neg.
ect Of duty work an entire change in the habits of
y
I Would it not be abont logical to maintain the con-
of the propos;tion-hat diligence will beset neg
| gence;
/ The gentleman has referred to the fable Of Argus
and has bespoken our sympathy in behalf Of the Pre-
sicnt of the Bank, because Argus himself once
RENTED his eternal vigilance and permitted the beau
trul 10 to be stolen from his Did that gentleman
reflect that while the slumbers Of Argus might be ".
p;cal of the negligence Of DIR. Brockenbrough, he
should We, (even in poetic jusce) carry out and ap.
ply the moral of the fable. Argus, Mr. Speaker, sict;
so has the President Of the Bank; but, Sir Argus for
the inomen,ary lapse of watchfuness, was punished
with eternal deprivation of sight. According 10 radi.
,ion his eyes were transferred into the plumagc OF the
peacock, by Juno, in remembrance Of him. And, SIR,
the impartial application of this moral. while it may
afford to the President of the Bank justification for
negligence in the slumbers of Argus himself, should
certainly decree the deprivation of office, anao-
gous retributon.
The gentleman from Accomnc has told US, that even
the sentinel will sometimes relax his vigilance, and
s1eep nm his post when no enemy thouGht be near