Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-01-21
GENERAL ASSEMBLY, OF VIRGINIA.
HOUSE OF DELEGATEs-Saturday, jan 9.
DEFERRED DEG.4TE.

HOUSE OF DELEGATES-Saturday Jan, 9.
BANK or VIRGINIA
Dir. STROTHER said, that the ball OF debate was
in motion, the game up, and 10 BE- idle specta-
tor in the midst of much excitement very diii
cult. He would beg leave to be participation IN the
game, and would respectfully present 10 the House the
reasons that would control him in the part he meant to
play and forced him 10 the side he espouscd Though
the present effort OF those the other side to
postpone indefinitely the consideration OF the subject
of dealcations Of the Bank Of Virginia, they were
compelled look beyond it, and into all the facts and
purposes embraced IN the reports and resolutions on
that subject, the table.
The subject OF great Importance, and ought
to be examined in all lis bearings, 20 be correctly
derstood; it demanded Of them the most careful and
calm consideration; and when they had considered il
fully their ton should be uninfuenced b. passion or
excited feeling, and should be obecnt only 10 The die
tatcs of Ii the interest Of the State required,
in their deliberate opinion, the removal Of DIR Broken
trough from the presidency Of the Bank, the emotions
of pity and regret unnvodably excited by the recoec
ton Of the modification to be thereby inflicted
gentleman SO respected he was, should not deter
them from the effort effect It's removal. Their duty
10 the People required them to look to the welfare OF
the State the pillar ofght that was To guide them in
the discharge Of the functions OF their Office.
The friends Of DR.. b. had displayed on his behalf
earnest zeal that claimed respect and admiration All
that generous friendship could do had been done By
the gentlemen from Richmond city and Acconac
(Ar Dayly to make the appear the better
The eloquent appeals of the gentleman from Rich
nond had not vet ceased 10 affect those who heard
them. To the argument Of the gentleman from Ac
comac nothing could be added he had urged upon
the House every view of the TIA. could be pre-
scented in behalf of Dr. Is. But ability could not avail
and argument cond not convince, when exerled and
based upon unsound premises And those eloquent APP
pcas to the hear, could not be permitted 10 control
them in the discharge Of their high duties to the State
The gentlemen from Richmond and Accnmac op
posed any action by the House, because, they
tend, has power TO act on the subject under
sideration. He held that 10 be untenabc, and claimed
for the House plenary power the whole subject.
The Legislature The embodied active and tangible
sovereignty of Virginia. In lis hands the People Of
Virginia (the true sovereignty had in their wisdom de-
posted the power Of the State limited and controlled
only by the terms of the Constitution. That power
was granted, that there should be energy and unity
in efforts accomplish the great purpose of its
isence, the prosperity and glory OF our State.
IN the legitimate exercise Of a portion Of their pow
e:s those who had preceded them, had chartered
rous banking Institutions Of which this Bank of Vir-
glnia one-had called them into existence, and
surrounded them with restrictions and checks, that
their great capacities for good might be made ns,ru-
men, 10 the advancement Of national prosperity and
greatness aud their equally great capacities for evil
so repressed remain developed. Such without
doubt, the purpose for which they establish
ed. If tha, supposit;on Is erroneous and they in
fact created solely engines Of individual profit and
advantage, then The Constitution had been violated
and the first principles OF free Government had been
grossly outraged ~ the creation OF odous monopoles
Mr.. S. said, that this horn OF the dilemma one
would take and would not enter into argument to
show that these institutions created TO subserve the
common good All would acknowledge the correctness
of the position. Such being the original design Of the
Legislature its exercise us lis power ol creation it.
rs necessary consequence, IS bound to exercise IL.
powers restrain these institutions in effective sub
servence 10 that design When they reflected on the
tremendous influence that these institutions exerciscc
on all the interests Of the body polite; that banks
of issue, they have such power tie prosperity o.
every portion OF the community, that no recess of so
ciety obscure rs 10 be unaffected by those fluc
uatons in the currency produced by their acton thai
as banks OF discount they give iiie and animation tc
the business world and carried dcsoatou into the midst
thereof, they would perceive how admirably these
institutions were adapted to accomplish the purposes
of their original creation, when wisely and hTnly
controlled and how entirely aud dsastrousy these
purposes would be defeated If they not con.
troed recognition o. the design o. tie institutions
and consideration Of their capacities forced them &c
the convction that OF the sirs and most important
duties that they owed - their constituents, and to the
State was to watch with The anxious care, the
whole action and conduct OF these institutions that
,cy ght guard against the pervcison Of their pow.
crs and preserve, unnjured those statutory bulwarks
t;., had been reared around them to restrain within
those lnits that cannot be transgressed without the
ctinn of the greatest evils to the body polite. The
itollander who watched with sleepcs preserve
unweakened the dykes that shielded him from the
overwhelming waters of the ocean, was not more in
these Banks 10 the srictest observance Of the limits
that have been prescribed TO tlen Mr.. S. said, thu
he was surprised that gentlemen had not contended
that that House had no right to enquire into the
duet of these insutons-tlIer line Of defence
complete without they took that poson--They in sur
rendering that positions gave up the key of the deences
Gentlemen perhaps wise in not attempting to take
the position, they could have retained it instant
The House had shewn by its reference Of this subject
to committee, and by its reception of those reports,
that it had the power TO cSamne into the conduct
and condition Of the Banks--it manifest that this
right Of examination derived to the Legislature
from two AS guardians Of the public veal en-
trusted with ample powers to discharge their duty us
SUCH they bound to know, that the public suffers
no injury from the any ofthe engines
or instruments created TO advance the common good
AS creators of the institutions they have the power
ascertain whether the privileges granted used in
the mode indicated by the grant And having, in ad-
dtion 10 the creation of the Institutions placed the
State in the attitude ola private stakeholder, by invest
ing the peoples money TO the extent ofmons in those
Banks they bound the special guardians OF the
public 6sc know the state of the Investment, and to
enquire into the conduct Of those who had much of
the money Of the people.
The gentleman from Richmond City, in surrender
ing that position, took another clearly unenabe
that He urged that the right to examine was not fol