Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-12-14
THE HOUSE YESTERDAY.

/ ''ab W oFaoty from Mr. Hollow man, on the SUBJ
lee' OF Banks, banking, non p iyuents OF specie
brokers, jews, lynch law. sc sc. The occasion
OF this outburst, motion made by Mr. Scott for
leave to introduce bill to extend the bill OF last
session, relieving the banks OF the payment Of ~
per cent interest from the LIST OF January ill the LIST
OF April MIR Scott, in a few and strong remarks,
stated the importance OF the measure. The last
Legislature had relieved the Banks OF all the pen.
alties Tor non'p ,ymont of specie until LIST Of April
next, except this twelve per cent interest. With.
out such a bill IS that proposed, the Banks would
be compelled To resume-they could not submit to
the PenNty-they would resume-they would
pay out specie long rs they had it-and
then they would be forced to close their doors and
wind up, their business. lie considered il i'm
possible that our banks could resume and maintain
specie payments, whilst the banks in the District Of
Columbia, Maryland and Pennsylvania were in a
state of suspension. The question, under these
circumstances, arose, whether 1t were true policy
and eonsonant to the lest interests of the Common
wealth, TO stand Ivy aud her banking institutions
drained OF their specie by Northern brokers. md
ultimately forced to wind their concerns Consid.
INK the deep rtcresi which the State has in tnese
institutions, ard considering moreover that the
banks were instituted for the benefit of the public
he thought that every blow dealt at the banks fell
upon the State and the people. The effects of
winding up the banks at this time would be mast
disastrous. The STATE was a debtor TO the b,nks
upwards Of 100000 this sum must, in Justice. he
paid before the State could exact penalties Of the
banks. The people owed the banks nearly 10 mil.
"ons' Were they prepared to pay up this large sum,
as they must do, If the banks were wound UNI
lie pr.NV
action duriag this session. Il morolv con,emp,,,,d
temporary rehe' to give the Legislature time to act
del bero,ey
This Grew Mr.. HoIeman forth in srandi,oopen,
speech 81 an hour. lie d'scoursed OF every thing
and more besides. MIR. SCOTS speech was very
plausible was only such as bank officer,
and stockholders were in the habit Of using. He
would give the law and gospel about banks. The
time had been, when man dared not call upon the
banks tor specie. II he DID, he was stismntized and
vihrd, and threatened with lynehiGg. This time
had passed away, in some dcsree-al;ho' there were
very few persons in Richmond or Norfolk, or Ps,srs
burr, or Lynchburg, who would dare TO ask Iank
for specie which they had degositod. They were
most v!,lanous establishments. He wished the en-
torcemeni of this penalty would make the bank, re-
sumo aud pay outtheir last dollar. They ought not
To have suspended (althO' Gov. Rutherford snvs
they ought not to have rcsumei); they would not. if
they had been honest II had ard one of the mos,
distinguished Bank officers say, that the Banks ought
not to have suspended las; spring. lie induced in
a very pretty flourish about the blush of sham.
ngrg the cheek, &c, at the idea Of waiting for m.
Northern Banks TO resume. lie would sell the /
Bank stock owned by tho State, It il did not br;r
'o cents IN the dollar to release US from tie Gegr,d
ns bank thrlidom. The banks had been in5uI,.J !
rom year TO year, and 1t was time 10 arrest tb m,
n iherr career of mischief. They were even erviny
'ut against the poor jews, who carried the small
lo'es and demanded little specie for change. He
liked little change himselE-"I don't know how il
5 with you, MIR Speaker"
Better give up 10 the Banks at once, to do as thew
lease, than to be indulging them from year to wear.
lie heard they had been selling their specie or what
vas the same thing, they sold n. York spsc,e
ands instead of going to New York and bringing
n the specie to repenish their vaults They wero
most abominlbe institutions and should he given
yer to pcrJIIon-ior It would yet leak out that
hey had been buying up their own notes at 4 dis
cunt lie considered The brokers the most useful
lass 10 tho community. They were the only men
rho had the independence TO call upon the bank,
Or specie lie exPatlnted at much length upon their
iuues-as the most meritorious portion OF III.
opuIaton, aud worthy OF legislative bounty.
Mr. Scott responded briefly but ably, as h. sl-
rays does-io this long winded rigmaroe, the sub.
taace OF which, he said, he had frequently heard
rom OrawIing partiz'ns Court Green. and
which he thought was better suited for that thea
re, than for the grave deliberations of the Vnginin
legislature. h
Before any vote was taken, on motion Of MIR :
hopkins the subject was postponed until to-day
hat every member might be in his place.
The gentlemen seem anxious to make the issue {
State Banks or no State Blnks-wc hope they :
nay have it decided they wish-they taking tn
cSponsbiiy.