Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-02-03

ought not 10 have the right TO issue the small uote
ano me P0ss mote: too, and he, therefore, wishss
this act, they should be placed ON the same foolin,
wan iha other Banks in the State, aud should M
longer have the right to issue post-notes; and il h,
Soulc succeed IN correcting that abuse, he shouls
therefore, that the motion for indefinite postnone
ment would fail, so that he might be enabled e
4 move his amendment y
Mr. Smith OF Isle of Wight, advocated the adop
ton OF the motion for indefinite enforcement
Mr. MeRAE supported the bill.
Mr. RobERrsos said, from his relation to IN,
question, he would be INDUCED with a few add
uonei observations. The gentleman from Isle o,
so. aad spoken OF the bdl as for nobody's bene
nj but that Of gambling spectators. He had no,
favored the House with the grounds of that OPT.
mon. As he mr. r. was utterly at a loss 10 kno !.
now operated such effect, he must, iii /, was
snewn TO do so consider the remark made merely
% oa'am-tosIcite prejudice against the bill where
Argument Jailed. Again: The gentleman from
Russell was for legslating for tho people not IN.
oanks, &C: He (Mr: R.l agreed in the general cor
RICHNESS OF the remark. He was for the bill, pre-.
| ciseiy because IT went to benefit the people One
mode. by furnishing them n better medium for a
worse, had been strongly presented by other cen
uenen. Another he had before glanced at. hut
tearing he had not been fully understood be would
! endeavor TO explain. The Banks are required 10
preserve ratio OF coin to circulation of not less than
10 90. III they fail to do il, they are REQUIRED r
stanty 10 refuse all further loans and discounts iii
the proportion Is re-established. The effects of
s1cn stoPpase could only be most DISASTROUS
now, by the aid OF this bill, the Banks might. some
times, preserve that ratio when without n. IA ev
would be unable; and thus avert those disasters 10
the communicate the peope-which would else
enSne lie would take the case Of one of the Banks.
tolllustrate the proposition; That Bank has cir.
cuaton of $500 00O and holds coin to the nmonnt ~
SSoo,ooo-that is more than 81 in specie to s3 in
notes-far within the required ratio. Now n de-
mand Tor 100000 say by Baltimore, nnd a do
nesue demand OF sloo,o 200, would reduce the spe-
che IN the vaults TO 500 0Oo and the Circulation 20
Seooooo-a proportion Of only 81 in specie to Sc
IN noles-a state Of things requiring at once sus-
pension OF business by the Banks Now, suppos.
ing the domestic demand for SI0O, 200 obyated by
the use of the small notes. the Bank ,youId In We
s2vuOoo Specie IN its vaults against
OF S'oo,oVO; still far within the required propor-
t,ons OF one TO i've and preventing that shock to
the interests and the business of the people which.
she opposite state OF things, would be inevRab
ai.er some further debate the question on the in
aehnite postPonement was put and lost
AfEs-Messrs. Southall, (Speaker,) Coles. Car
Penter, Wiley. Byrd, Hannah, Jackson, Haskins.
Meredith, Burlington, Cox, Burwell of c. & W.,
Halifax, Clarke, Smith of l. of w, Davis, Dab
ney Habern, Ballard, Booton. Dc,s Goode. Boyd.
clayton, Tanzey, Wade, Smith OF NJ, M'Pberson'
brown OF p Heath, Radcliffe, Snider, Smith OF
T Toek'; Shpman Cowan, Bevins, Conn, Williams,
lat, Warren, Goodson-45.
NoEs-Messrs. CaSell, M'Cue, Stuart Bur.
well OF B., Mitchell, Vandoren, Fryar. Jones
hyie, Toler, Irvine, Corbin, Coleman, CardweIl'
Broadus, Irving Scott, Marshall of Fauquier, Nc,
| Laughn, Payne, Woods, Hale, Wood. Catber
Wilkinson, Erskine, Vance, Odel, Thomson. Mini
len, Lee, Armstrong, MRae, Hamlet Gregory.
stephenson OF j., Worihinston, Donnelly. Tayloe
oil N; c. Beard, Ramey, Harrison, Caldwell, Or.
. n, haTell, Taylor OF n. b, Etheridge, VERIFY,
mcdonnell, Hlden, Chatham, Hiner MAY, Tun.
stall, Keen, Burner, Dey, Suother, Robertson.
Dorman, Leyburn, Crutehfeld, Fitzhush, Ste.
phenson of T., Walker Stephenson OF W., Full.
on-67. W"
The question then REQUIRED upon the amendment
OF Mr. Smith substituting LIST June for LIST August.
and was lost, ayes so, noes 81.
The question thea REQUIRED upon agreeing To IN.
amendment of the Committee when
MT. BRows OF Preston offered the following
amendment:
lands and tenements Of the Eive stockholders
IN such banks as may issue tksrIls aforesaid shall
be liable 10 satisfy all judgments and executions
covered IN or issued from any of the Courts of this
commonwealth on account of the non payment of
such small notes. And IL any person or persons
snail have any such Judgment or execution against
any OF The Banks OF this Commonwealth, and the
same eannot be satisfied by reason of the deficiency
OF assets belonging TO such Corporation il shall be
lawful for such person or persons 10 file their hill in
any OF the Courts of this Commonwealth HAVING
Ohancery jurisdiction, and have a decree against
such stockholders in their individual character
Mr.. CRurcHFiELD moved the previous question.
and the amendment was rejected Ayes 4s, noes g.
ATEs-Messrs. Carpenter, Wiley, Byrd, Hannah
Jackson, Haskins, Meredith Burlington, Cox. Bur
well OF c. & W. Sangster, Deskins, Wood, Gather
Johnston, Guerrant Taylor of H., Clarke. Arm
strong, Davis, Dabnsy, Habern, Ballard, Marshall
Of l., Booton,. Digs, Bryan, Clayton, Tnnzey
Hiner, Burner, Brown Of Preston, Heath. Ratcli6e'
Snder, Smith OF r., Shipman, CoNan, Beyins, Conn,
Williams, TAFT Warren, Goodson-is.
NoEs--Messrs. southall. Speaker, )Coles, Cabell
MCUe, Stuart, BurwelI OF g., Mitchell, Vandoren,
rryaI Aye, Ioler, Irvine, Corbin, Coleman, Card
Wei, Broadus, Irving, Scott Marshall of Fauquier
9ma,Laushln, Payne, Woods, Hale, Smith OF G.,
Wilkinson, Erskine, Vance, Odef, Thompson, MuI.
len, Lee, M'Rae, Hamlet, Smith OIL. Of W., Greg
cry, Stephenson Of J., wOrthingtOn, DonnelIy,
fayioe Of K. g., Beard, Ramey. Harrison, Cald.
VERIFY, Smith OF y, Mcconnell May, TunstsIl'
Keen, Dey, Elliott, Robertson, Dornan, Lev burn
CTutehheld, FIzhugh, Stephenson of T., Walker
Stephenson Of Wood, Fulton-84.
Mr.; LEE, OF Harrison, then moved the following
amendment:
Provided, h0toeps', aud be IL further enaei,d
That 1t the Merchants and Mechanics Bank OF
wheeling, and the Northwestern Bank of Virginia.
or either OF them, shall avail themselves Of the pro-
VISIONS oil this act and shall issue notes OF less
denomination Than i've dollars, as herein authoriz
ed' 30 much Of any act acts now in force as au.
Ihofizes SAID hanks or bank TO issue any bond bill
note, check, order, ticket other paper whatever
payable 10 bearer or otherwise, II any period sub
sequeni 10 its date, otherwise than usna demand
sha.. be- and the is hereby, Iepea!ed;" and IL
shall not be lawful for the said banks or either Of
them thus accepting The provisions Of this act there
after to issue any such paper payable otherwise
than upon demand; and # any oficar Of said banks
or either OF them shall thereafter issue any such ma
per IN violation OF the provisions Of this section he
shaI! forfeit and pay the sum Of one hundred dol
ars to be recovered in any Court Of record in This
commonwealth, by bill, Complaint or information
Dy any person who will sue for the same, one half
thereof TO the use Of the Commonwealth for tbe b.
neht OF the Literary Fund the other half TO the use
Of the informer. 80
Mr.. CRpTcHFfELD again moved the urey;oDs
question, Tor the purpose Of staying unnecessary
ueoate, and thus wasting the time Of the Hou,e
- Messrs STEPHENSON, Of Tyler, LEE. and NJ
|oSHELL, hoped the House would not sustain an,
previous question. The House, however. pu, an
eHtinguisher upon al the forthcoming oratorv 10
sustaining The previous ques,ion-Ayes So, noe,
The question then came up on agreeing In 81,
LEES resoi uIIon, which was negatiyed-A YES 81
noes So. -
The Ji was ordered n be engrossed and Rad 9
third Ime-Ayes IS, noes 90
On motion Of Mr Leg, the House adjourned
JUEsDAI, February q
The Senate announced that they bsd u,ssed H..
bili entitled act prOvidnz Tor taxing tbs 80. -