Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-01-13
DEFERRED DEBATE.
HOUSE OF DELEGATES.
FaIpAI, January s.
VIRGINIA BANK.
IDebais eontinusS.l

:; .,;o, ,hc y,mo was up, and to I've an idle spec
t,tor in the midst of 50 much excitement was Ney
difficult He would beg leave to DC parucPa,ot
In the game and would respectfully present 10 the
H. ,hs reasons that would control HIM IN the
p,rt he meant to play, and forced hun 10 Tue side nc
esp,uscd. Though the present effort OF tnose ."
the other side to postpone indenni'ely thc ,on
sidera,on of the subject of deiaca,ons oil the DSnA
of Yirsinia they were compelled to look beyohu H.
,no into ali the facts and purposes embraced IN inc
reports and resolutions, on that SUBJECT now on inc
table. .,-,.. and
ought to he examined in all Its bearings, 10 DC COZ
r,ctlv undcrs,ood il demanded OF them the most
careful and calm consideration; and when they hau
considered il fully, their action should be uninha
Snced bytpassion or excited ieesng, ana sHouIu "e
ohedicnt only TO the dictates oil reason IL 'he h'elS
of the State REQ uircd their deliberate opinion, tue
removal OF Dr. Brockenbrough from the presidency OF
the the emotions OF pity and regret unaVoidapy
excited by the recollection OF the moruncauon 10 oe
thereby inf cted gentleman so respected rs nc
was should not deter them from the effort TO erect
he ,enovaI Their duty to the People required
them to look to the welfare OF The State as the piar
of light that was guide them IN the discharge OF
cle functions OF their office. ..
The friends Of Dr.. b. had displayed on his behalf
nm earnest zeal that claimed respect and admiration
All that generous friendship could do had been done
by the gentlemen from Richmond city and Acco-
mack, Mr. Bayly) to make the worse appear tue
better cause. The eloquent appeals oil the genI'e-
man from Richmond had not yet ceased 10 shect
those who heard them. To the argument oil the
gentleman from Accomac, nothing could be added;
he had urged upon the House every view oil the case
that could be presented in behalf OF Dr. b. But aoi-
lty could not avail, and nrgumen. could mol con-
vince when exerted and based upon unsouna pre-
misses. And those eloquent appeals to the heart
could not be permitted to control them m the DIS
charge Of their high duties TO the State
The gentlemen from Richmond and Accomac OPP
posed any action by the House because, us they
4. 10 arf IN he Slih
consideration. He held that 10 be untenable, and
claimed for the House penary power over the
whole subject. The Legislature was the embodied
active and tangible sovereignty OF Virginia. In us
lands the People of Virginia 1.-THE true sovereignty
had in their wisdom deposited the power OF the
State limited and controlled only by the terms oil
the Constitution. That power was so granted, that
there should be energy and unity IN It's efforts TO ac-
compsh the great purpose OF It's existence the pros
perity and glory OF our State
In the legitimate exercise of portion OF their
powers those who had preceded them, had chartered
various banking institutions, OF which tins Bank oil
Virginia was one;-Had called them into existence,
and surrounded them with restrictions and checks,
that their great capacities for good might be made
instrumental to the advancement OF national pros
perty and greatness and their equally great capi-
cities for evil rapressed as to remain undeveloPed
Such without doubt was the purpose for which they
were established. Ii that supposltion is erroneous,
and they were IN fact created solely as engines OF
individual profit and advantage, then the Consti,u-
ton had been violated and The first principles OF
free government had been grossly outraged by the
creation OF odious m9nopolIes. Mr.. 5. said, that
this horn OF the dilemma no one would take, and
would not enter into an argument to shew that
these institutions created To subserve the COM
mon good. All would acknowledge the correctness
of the position. Such being the original design OF
the Legislature, in its exercise of Its power OF cTea-
ton IL as u necessary consequence, is bound 20 eX-
ercse its powers TestIain these Institutions IN ei
fecIiye subservIenee to that design When they
reflected on the tremendous influence that these
institutions exercised on all the Interests oil the body
polite; that as banks OF issue, they have such
power over the prosperity OF every portion OF the
community, that recess OF society was so obscure
as 10 be unaffected by those fluctuations IN the cur
rency produced by their action that as Banks o
Discount they give life and animau n TO the busi-
ness world and carried desolaton into the midst
thereof they would perceive how admirably these
institutions were adapted to accomplish the purpo-
ses of their original CREATION when wisely and hrm'
ly controlled, and how entirely and diSastrousy
these purposes would be defeated 1t they were not
so controlled. A recognition OF the design OF the
institutions and consideration Of capacities, forced
them to the conviction, that one OF the FIRST and most
important duties that they owed TO their constitu-
EMS, and TO the State, was TO watch with the most
ANXIOUS care, the whole action and conduct Of these
institutions, that they might guard against the per-
version Of their powers and preserve, uninjured,
those statuiary bulwaTks that had been reared
around them 10 restrain within those limits, that
cannot be traRssTessed, without the infection of the
greatest evils to the body polite. The Hollander,
who watched with sleepltss care 10 preserve I'M
weakened the dykes that shielded him + ON the
overwhelming waters OF the ocean, was not more IN
the line of his duty, than were they when holding
these Banks the slrIctest observance Of the limits
that have been prescribed TO them. Mr.. >. SAID,
that he was surprised that gentlemen had not con-
tended that that House had no right 10 enquire into
ihe conduct oil these nstuIons-lheir line OF defence
was incomplete without they took that position
They in surreDdering that position, gave up the
kew of the defvnces. Gentlemen were berhaps
wise in not attempting to take the position they
could not have retained j, an instant. The House
had shewn by It3 reference Of this subject TO
committee, and by its reception OF those reports
that II had the power 10 examine into the conduct
and condition Of Tie B,nks--It was manifest tina,
ihiS right Of examination was derived 10 the Legs
llture, from two As guardians OF the pub
10 veal, entrusted with ample powers 10 discharge
,heir duty "a such, hey were bound to know, that
the public suffers no injury from the msmauage.
ment of any oil the engines or Instruments created
10 advance the common goOd-As creators Of the
Institutions, they have The power to ascertain whe-
thCr the privileges granted were used in the mode
Indicated by the grant. And having, 10 addition to
The creation OF the intltutlons, placed the State 10
the attitude OF private stockhaider, by investing
the peoples money 10 the extent Of millions 10 those
Banks, they were bound, the special guardians
Of the public isc, 10 know the state Of the invest
nent, aud to enquire into the conduct Of those who
mad so much q the money Of the people.
The gentleman from Richmond City, in surren.
derng that position, took another clearly unten-
able as that He urged that the right to examine
was not followed necessarily by the right 10 pu.
nish. Mr. s. said that the righttO exsmne into any
subject derived either from power over u, or
interest in IL II derived from power over IL, /
The examination is made chat that power may he
exercised for the advantage Or preservation Of is
guhiect. II derived from the existence Of an inter-
cs, the examination is mide that that interest may
be preserved. by the detection or remedy.rg any
cv that eKis.s-ln the one case the power tbsi
created or controls can correct or puuish In the
other the interested party raise voice Of pro-
teslatlon IN deieLce Of his interest," cnd can seek tie
5'd Of power 70 protect It. Mr.. S. SAID c.bc, was
sufclent for his purpose. lie claimed fi., thrv
hada right TO examine, as consequent uron the no.
session Of power over the whole banking svttep,
81 the State. The power that was exercised IN
call them into existence, 10 subservc the common
good. could and should be exercised % control them
40 an Obscryancs Of charters, and Ia punish suv
alteration from Their proper sphere Of action gYt
4 they had not the power claimed by him over The
whole subject they had large interest in tb,ss
Binks as stOckholderg, and m preserving tbot h.,
terest they could complain Of any evil tbat threat.
encd their interest, and express their sense oedon
ger, and opinions and wishes, 70 the person ho,diov
power Of the subject
The gentleman from Richmond seemed TO ins,s,
that any action by dat House would he eve,ci,c -
power 20 punishment and that therefore n sho,rd
here pause. Though the information obt,i,c5 H..
their examinations shew that tbe general and ,,,,y
ruar interest Of the State had been despiv &c.
their voice was TO be hushcd into silence tbc,, -