Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-03-24
legislature OF VIRGIN 4
HOUSE OF DELEGATES.
N1rSdag, March 10, 1872


satisfied III his n"n hGable judgment il ought, would
grea'y s.Te the Ge Of the House, aud would dispose
oil ms e@citing and important subject, not only IN a
summary manner. bu, in manner that would, he was
convince ne highly satisfactory and gratifying to the
people O: 'hE Commonwealth. The motion which he
meant 10 Maze, and did make to postpone this bill
Indeilnit y The eject OF this motion, if 1t prevailed
would be 10 leave the Banks the operation OF the
law, as i now stood, and compel them the
first day y April next. Circumstances had trans.
pred, eVs.ts unlocked Tor, but TO him gratifying
had Just occurred in other States, which could not fail
lie trustc !" haze eectc material fleet not only
upon the 'ii.s of members here, but upon the minds
Of ell We been insiilying and sustaining the
Banks M spens;9u- their continued Suspension
Of specie payments Their Chief argument had been
that our Banks could not until the Banks Of
Maryland and Pennsylva resumed. Well, those
Banks nave resumed-,hat IS 10 say, branch of the
Maryland Legislature, by almost unanimous vote, has
passed the bill agreed IN conference between the two
Houses, and concurred IN Ivy the Banks themselves re-
curing them 20 resume the first day Of May next :
and the Banks already voluntarily redeemng their
i've and ten dollar notes with specie. The Pennsyl
wanna Legislature have passed their bill, by vote Of
than three Ia in one House, aud of two 10
in the Other requiring the Banks 10 resume forth
with. The South Carolina Banks arc paying specie
Some Of the Banks, and the most Important ones, in
Missouri paying specie. The Banks OF New York,
and the New England States, are al! paying specie
The New JERSEY Banks 10 pay specie in August
next. 81 the work of resumption IS progressing and
prospecting every where ; and why should Old Virginia
lie the last Why should she lag behind the last post
ponng resumption, this bill proposes, to the FIRST Of
January next TIC soundness aud su':cncy Of Tie
Virginia Banks had beer much boosted Other
pension, had teen sad, had been forced upon them by
the suspension ri the Northern Banks especially the
Banks OF tyand and PENNSYLVANIA ; and that they,
the Virginia banks, would be ready to resume when.
ever the BANKS of Maryland and Pennsylvania
sumed Well pennsylgani will resume forthwith,
and the Banks OF Maryland have partially resumed,
and the resumption Will be entire Oh the first Of hay
next. And what could gentlemen, who have been
urging tins argument now say against resumption on
the part Of on. Banks. He hoped they sincere
in making thu argument, and wonld prove Their SINCE
riy by their votes on this question The same argu
ment or announcements he understood had come from
The Banks themselves, at Il time when they little
dreamed, doubt, that the Pennsylyana and Mary
land Banks soon TO resume" and he dad not see
now how the Virginia Banks could rrrac,, how they
could continue their opposition 10 resumption. But he
was sure they would do it, Their officers directors,
and sockholdes were too deeply Interested too deeply
md bicd Ia the Banks 10 consent 10 resumption THIS
Bank gentry have kept sort of "klmbroughs ac-
count borrowed all the money themselves, and
j, is hardly to he expected that they viii 90 for
resumption and thereby bring down on their own
heads mos: fearful and tatL curtaiment.
This brou tht him (l1r to notice the other arsu
ment The believed there were ony t'ro arguments nrg-
ed against resumption: md this was the grand al c0pan
dum argument, that resumption wonsd bring rum and
distress mon the People, "ttc dear People. When
he first heard this argument, he was utterly amazed;
j, he had lonr since ceased to wonder a, any thing
Tho Banks might say DO. The argument is neither
more nor less Than ts,hat the creditors of the Banks,
the holders of their prnmssory notes, tie farmer the
r,ecaac lie! !.,,or,nr aud Producing cinstes OF the
country ,Sho bold Bark notes, would he ag9rescd and
distressed beyond measurr, the Banks were To come
forward and redeem their promises, and lake ~ Their
notes. hy counting down the hard money tor them =
lLa; thu countrruan aho came to Richmond with
ion dollar Virginia Bank note TO buy sugar and collie
fr L;s family would lie most cgregiousy injured and
distressed If The Virginia Banks were 10 give HIM $40
IN speee for his note, which would Just enable him to
h,v c,y cents worth of sugar and coffee more than
no could buy with the note the depreciation or dilter-
once here between Virginia Bank notes and specie,
,ein pnr ccut But, say the BankcS, ali thIs GAIA
ni.v and dstress will TALL upon the people in this wise
Tho necple are most aarmIngiy IN debt To the lianks
and II inc Legislature compel the Banks to resnme-to
nay er debts they, in turn, VIII be under The neces-
si;y of compelling the people 10 pay up ana N ms
way the pressure wond fall upon the people at last
ms ,s not so SAID Mr.. - But. admitting !, for mo.
men tn he So for the sake OF the argument, and what
Ala = all amount to- Why, to ust hs-lt you compel
ona man 10 nav Just debt which he owes 10 another,
that other NAV he compelled IN turn TO require pay
meui of 4 debt due TO hm from third person, ana
,b,, third person OF fourth person, and so on. al m
min 4
,roveJ that the Legislature ought to do away al once
. tho nayment OF debts, and the obligation oi con-
,rac,s ,l,one,ber For he Mr. d. demanded 10 know,
nv what right upon hat principle OF eqla lustce ana
fairness could The General Assembly undertake 10 re-
lon 80 rho Banks from their contracts from their pro
,;sos I, nav" while they held individuals 10 riga
ecrn,nce Of their contracts, and strict nhilment
of tcir promises 10 pay: low could so UNJUST 80 ia
r,,nt discrimination be made IN favor oil those ou'ous
,s,;u,ons: If discrimination were 10 oe mace at
a.. ,nItu Al p1ls
are hest entitled favor and assistance IRON Inc Le
;sl,.rre These powerful corporations already ENJOY
cd too many advantages over nhFiduais' they hau Ut
a., r.ceiyed too much favor, too much indulgence,
loo much power and privilege ioT 'he goou OF the Peo
,,n and he hoped stopping place had been reached
e., individual owed debt, even to the Banks u one
Parks here hold his note, say Tor SiGO, the bcnk
,, emo him. hold him 10 bail IN Richmond, ~ ne can
! c,u,h; here far from his home ana us i'ieHas
,. him il prison il he fail or be nnacle to give lhe
ba and when judgment IS obtained 10 SUI nun u
TO-, an execution of every particle OF property; and u
Lo deh, be not then discharged, the poor fellow WI
.ro n uo n jll, or take the oath OF an ns"iveni
d.b,or irving M his all, even Inc ilttie patch u
.or,d and the humble shed that has Afforded
80 and j, shelter for his vic and ch'ldfeD ana
h,, cn- the law which the Legislature Pass'n out
,La other Gav. preventing the requirement OF spe'
-: n sa,isf c,on O. executions, the BANK fnGhl IN
IL, unon "a ment in specie But suppose tie sai"e ~
d;vidual To hold Sjj note oil one o. Tue Ddihs W WI"
Mace which h. has received as me wages u ms 'a1
or in paymen, for his little crop which he had sold ne
comes down to Richmond TO buy necessaries Tor his
family and finds to his surprise that the note which ne
I'D rsceiyed for 800 and winch purpoEted on us face
- no worth that amount in fact worth only 81 aud
,bo, if he had the money, mean the $500, IN hard
Nancy for the nole he could purchase s. worth ol
,ocds more than he could purchase with the note
He roes to the Bank and demands payment Tor the
note Uor il will be recoeced that the Bank note IS
not payment of the debt, but only evidence OF .ne
o,;.,ence Of The debt-evdence that the Bank owes
the 500 to the holder of the note and promises TO pay
i'll The Bank refuses payment What can he no. 40,
What remedy has he: None. none whatever. me
rlo,,re have shielded the Banks and left him with
out remedy Can he sue: If he will go to lawyer
and pay good IA, fee he will be told that he may sue
il IS privilege that any body may enjoy by paying 'or
!, But will he gain any thing by his SUIT Ao'h'ng
at all Can he hold body to BALI No. nv Gan hod ne
put any body in jail: No. Can ne maze any o"uy
,,te the insnivent debtors oath or surrender up any
nroper,y. No Can he find any property TO levy h' US
execution on Hardly; unless The sher'i, coaa
hr some chance slip into the vaults, IN which event
,n,osed he conld levy the execution upon mo-