Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-12-11
LEGISLATURE OF VIRGINIA.
HOUSE OF
TinTsdau, Dec. ..
RESUMPTION OF SPECIE PAYMENTS.
;, Byap offered the following resolution:

HESJ Of sIENiE aE.Ni
Mr.. Byap offered the following resolution:
Resoiced By The General assembly Of pirgint4, That
the Executive Of this Commonwealth be and IS hereby
requested promptly 10 correspond with The Governors
of the States Of Maryland and Pennsylvania, for the
purpose of signiiying TO them, and through them, TO
the Legislature Of their States respectively, the dispo-
si,ion Of The General Assembly Of Virginia, TO co-ope-
rate with those of the States above mentioned, in fixing
a common day in the ensuing year, by which measures
shall be adopted to require the Banks of Pennsylvania,
MARYLAND and Virginia, to resume and continue the re-
demption Of their notes in specie; and that in doing SO,
he is also requested to suggest the day Of -,
1912, us that on or before which, in the opinion OF the
General Assembly Of Virginia, The Banks should be re-
ouired TO resume specie payments.
MIR. BYRD said the resolution lie had introduced was
one of much importance, and upon q subject involving
some degree of delicacy. 1t was a resolution, too,
which required the grave consideration ofbothl branches
OF the Legislature. | cannot, myself, devise n better
plan for e%fTecting the object of resumption, about the
desirableness Of which, no difference of opinion exists.
We only differ as to the mode Of effecting such an OBJ
iect. We not only desire a resumption, but such a re-
sumption as will be founded upon a sure basis, and
will! thereby ensure the continued payment of specie.
| do not appear here as the advocate Of the Banks; nor
am an admirer of the system; but it has existed so
long, has become so engrafted upon the country, and so
with our mode Of doing business, that
whatever legislation may be had regarding it, is obliged
to be adapted 10 a continuance Of the system. ! there
fore conceive that any attempt at resumption would be
futile unless it were aided by the cooperation Of Mary
land and Pennsylvania. For the present, | will move
that the resolution be laid on the table for considera-
ton.
Mr.. DAsHEY said that the resolution which had been
moved by the member from Frederick was, 10 him, IN.
expected, and, he must add, e hat surprising 1t
touched upon 4 most vital and nll.absorbing subject, and
he for one was unwilling to act upon i in a hurried man
ncr- on the spur Of the occasion. If he rightly under
stood the character and effect of the resolution, il propo-
sed that the action of the legislature of Virginia should
await and be made to d depend on the Legislatures ofPenn'
sylvania and Maryland, OF, what is still more humiliating,
on the move of the banks Of those States. He was
opposed 10 placing this Commonwealth IN so degradinsa
position. fthc banks can bring rs to this, how tar may
Ihey not uggrieve and degrade u.s. The banks tell US
Lhey are willing TO resume The payment OF specie, II The
Northern banks, or at least the banks of Maryland and
will consent TO do so, and this resolution
seems in a manner TO re-echo this arrange language of
our banks. Suppose The banks ofMaryland and Penn
ne yer resume, are our banks to suspend and re-
use the payment of their debts forever, and the Le-
of Virginia TO remain all the time with folded
rms patiently and humbly awaiting the action of the
MARYLAND and Pennsylvania Legislatures and Banks'
Mr.. d. said, for these reasons he desired some little
ime, at least, to look into this subject, and moved that
he resolution be, for the present, laid upon the table;
,ut at the request of Mr.. Byrd withdrew il, MIR. B..
10 renew il after he had submitted a few re-
marks.
he gentleman from King William, and at The motives
,scribed 10 him by that gentleman. The gentleman
10 suppose, said MIR. b that The adoption of this