Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-02-02

conduct of all persons employed in the Bank"
eecualy to the Stockholders for the perform
ance of their appropriate duties by all persons IN the
Bank
agree with the gentleman, that it is not easy to say
what particular acts the President of Bank IS bound
10 perform towards the other officers, IN discharge OF
inns general duty Of supcrntendence and that the OBJ
legation to supcrntend, does but vaguely intimate the
standing duties Of the President, in reference to the
Official conduct of the subordinate officers. And u the
gentleman will turn to the interrogatores addressed by
me committee to the President, he will discover that,
lor the purpose OF asceranng distinctly what The
President considered to be the duties ennned upon him
ny the provision OF the bylaws which have alluded,
the President was expressly asked state wha acts he
the habit of performing towards the other officers
IN discharge Of this duty In other words how he
pernended them, and particularly the late Cashier and
first Teller whether his examinations were stated
times; and if 50, at what intervals and If otherwise,
how often within limited time: And cspcciay to
state tie best Of his recoccon flor strict uccuracy
was not expected, how often he examined into the off
cin conduct of the Cashier and Teller, within two
years prior to the discovery Of the defalcaton; and
what he deemed "llis standing duties President in
reference TO the official conduct of said officers during
that time"
And, while agree with the gentleman that the Pre-
sent is not to be held responsible for the drafts
Of Merrill and Green, apparent upon their proper
count Of the Bank kept by some book keeper, unless
the President had SPECIAL to suspect error in that
ness accuracy in keeping the books by the book
keepers of the Bank unless those irregularities were
made known to him appropriately yet suppose that,
If he knew the fact be- that Merrill and Green had
over drawn, and that the books neggenty kept,
he bound by duty take notice Of the circumstance,
and either himself 10 have corrected the condnct OF
any such officers 10 have invoked the aid Of other
ipry his own was not ample enough to correct such
conduct Bu do dissent entirely from the gentleman
his suppcston that the President is 10 be held to have
rlr III. Al.
ted the Teller 10 have more than million Of money in
his possession and that the Cashier haLituay
glgent in dschargng the duty imposed by rule of the
Bank, 10 keep in his own possession 'sa the funds Of
the Bank, except such he might Judge proper to
main, be placed in tho hands of the Teller for the
operations of the day, he failed to nterpns
and either himself BY the aid of;he Directors, Cfne
cessary) correct this dangerous practice. Permit
10 say, that here agree with the cstimnble gentleman
from Richmond City, in the amendment which he offer
ed 10 the report the Committee Banks, concluding
with resolution ''tha, the interests Of the State do
demand the removal of John Brockehbrough from The
Presidency of the Bank Of Virginia II holds other
language, 10 wit 'No sufficient apology, however, has
been offered by that officer, for suffering the Cashier 10
allow Dabney to keep !or months and years together,
the large amount al funds daily shown by his settle
mcnts be in his hands On the contrary, the Commit
tee deem il 10 have been grave neglect of duty, his
part not 10 have required the instant correction Of
loose and hazardous state of things and TO have in
voked if necessary, 10 that end the authority Of the
Board of Directors"
The fact If this omission duty, may be permitted
10 saw set forth prominently in the amendment
of the gentleman from the City Of Richmond, than in
the report Of the Committee Banks pre!acing the
solution adverse 10 the reelection of the President and
in relation to this omission of duty by the President
entirely in the language used by the gentleman
from The City Of Richmond, and differ widely from
the gentleman from Accomac
In relation to the duty Of having the vaults inspected,
also tirr from the gentleman from Accomac and con
fully with the President, who this respect, also
differs from the gentleman from Accomac, and in rea.
tion to this omission, in his report 10 the stuck
holders, this language: "The President and Directors
have relied too much the vigilance Of the Cashier,
and he has relied too much the fidelity Of the Tel
Ter. They have examined into the funds cnrust
ed 10 the Cashier, which, in truth, are all the funds
of the Bank, as the bylaws rendered proper, and
he has allowed the Teller 10 retain more money in his
hand, than for the daily operations of
the Bank, without examining his vault.
II has been suggested also, that if the inspection
Of the vaults had been made, the dcalcatinn nigh; not
have been prevented, and reference has been made to
an intimation in the report of the Committee Banks,
that certain checks were counted money by Com.
mee of inspection If the fact SO, however, il
could only be because the inspection not careful
inspection. | do not mean IL assert that negligent
inspection would have ascrraned that the funds oil the
Bank were correct; certainly MOTOR know the
trary; but do to assert, that if any checks
found in the vault of the Bank they must have been
either drafts on the Virginia Bank, drawn by
entitled to money in that Bank, and which being paid
would have been but receipts 10 the Bank and should
have been appropriately distinguished paid and could
in no way be considered as funds belonging to the
Banks, ought to have been mixed up with the evi-
dences Of assets belonging TO the Bank or they must
have been checks other Bank, an office OF
the Virginia Bank, in which case they were not Of
value at ALL unless the makers of those checks had
money to their credit in that other Bank or office OF
the Virginia Bank md these ought not to have been
certified as valuable by the Committee Of the Board Of
Directors until the members had satisfied themselves
that the makers Of the checks had to their credit in
the Bank or Office designated IN the check an amount
of money sufficient to answer the check l do not
mean that careless investigation would necessarily
be true one hut to assert that careful and proper
nspec,ion Of the vaults of the Bank would necessarily
ascertain the actual amour. of money in the vaults Of
the Bank About this, presnme there can exist little
question
Il has been contended by the gentleman from the
City of Richmond, as appears in his proposed amend
ment that the existence of the order OF the Board OF
the 9Th Feb 1882 ought to be deemed some excuse for
The President and his amendment contains this para
praph: aln connection with this part Of the subject
your Committee deem il proper to advert tn the res"
utons of the Board of Directors heretofore referred
to, Of the 9Th Feb, ls:S} These, 1t VIII he seem
more especiay present the various duties Of most Of
the officers the Bank direct the Cashier 10 see that
those duties arc properly performed and in case of de-
nquency on the part Of any officer 10 report the den
Sc ouant 10 the President Your Committee can only view
:. these resolutions rs designed to charge the Cashier
more particularly with the interior control and man
arement of the institution, and ms modifying to that ex
lent the duty of general superintendent devoved on
the President by the 18th bylaw above referred to-
6 desire il TO be understood that of that Com
mittee, do not yield my assent to any such concu-
sion. but do dissent from the conclusion, and also
from, the intimaton conveyed by the sentence mme-
diately following viz and they are satisfied they
were so considered BY the President of the Bank.
brp the House to mark the language nsed in reference
to this matter in the report of the Committee on
Banks. " 1t has been thought that this order, en-
Joining those and other duties on the Cashier, might
hare been considered by the President, as relieving
him in some degree from bis general duties IN that
respect" that the President so thought nor have
! enough tn induce ME to believe he has so stated
lie is a gentleman of great intelligence and high
character and if he does state, will not hesitate
to believe him. Bnt do not distinctly understand that
he has so asserted The entire supposliIon deem erro
mt if hose resolutions did the duties