Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1842-12-13
RICHMOND DAILY WING.
TAKING THE BACK TRACK.
TUESDAY MORNING, DECEMBER IL. ls,s.

IAhfNG THE BACh IRACh.
The bill to authorize the appointment by the
Governor, OF majority of the Directors in the
Banks, yesterday, received its quietus. As soon
as it was read, Mr.. Edmunds moved that it be
laid upon the table, with the understanding (or
compact, the word he used) between its friends
and foes, that IL not again TO be called up
Mr.. Randolph, ON behalf of the friends of the
measure, acquiesced in Mr.. Edmunds statement.
This is curious piece Of legislation. The
Regency" when they introduced the original
Resolution, urged it with great earnesncss, as de-
mandcd by the best interests of the people and the
Commonwealth. They were unwilling to allow
the subject To be investigated. Ii was right and
proper, they had made up their minds To that
and adopted, it should be- They would brook no
delay. twas high time, (such was the language
OF MIR. Randoph) the State had taken the manage
ment of the Banks from the Stockholders. Those
Institutions had issued their mandate, requiring
their debtors in the country TO pay up, that they
might loan out their money on ephemeral, worth.
less paper in the City of Richmond, which would
be brushed away by the first wind that blows. 1t
injustice and oppression, not to be endured.
Scarcely five days have elapsed, since the gen.
temen held this language; and now they come
forward and openly abandon the measure, which
was so important to the public veal and enter in
TO Il compact not TO press it again. From tins
conduct we infer one of two things: that the Re-
gency set their colters too Deep and they are not
powerful as they thought themselves; or that
having the will to do, they want the nerve to dare.
In either contingency, they must feel proud of their
achievement.
We do not know that the Legislature of Nir-
GINA deserves any credit for spurnng such a pro-
position. For it only performed Il simple duty TO
which it was impeled by every of justice and COM
honesty The proposition understand it, and as
it eXpounded by Col. Randolph, simply subject
the property of the State and of the individual ockhod
depreciation The complaint urged by that gentleman
that the Banks, present organized would loan
their money such persons he thought they should
and calling upon their debtors 20 and 80 years stand
ing refund portion Of their dues This the com
plantihe evil be corrected. To remedy it, he would
deprive the Stockholders of the management of their
property and put into the hands of those who would
disburse il according TO Mr.. Randolph's wishes.
An assembly of honest could claim much honour
any where for not concuring in proposition of this kind
While upon the subject, will copy the remarks of
Compiler, in refutaton of the impuatons upon the
City by the member from Abcmare. All, who live in
town. know, that the Banks have been hard upon their
country customers the City has reapcd the benefit of
ulat OPPRESSION ule unes nave been hard
years-long before any pressure felt the country:
From the Compiler.
"As for the remark of Mr.. Randolph asserting oppres
of the country for the benefit of the towns could
be nothing unfounded The accommodation debt is
peculiar the county- distributed through the
also The assertion that it exists the greater ex
tent in the country shews past favorism of the country
for il IL considered favor get accommodation discounts
There is nothing unounded too than the sheer nj
the business paper discounted in the city II the very
best descrpon-never the Banks rgid-nover did
they require such ample securtes-and the
counts in the aggregate safe. This is what every bust
man in Richmond will tell Mr. Randolph.
But another fact il worthy of consderation-which is
that the discounts very limited and merchants of
every class less embarrassed for con.
duct their business. They unable collect their dues
from the country, and nevertheless compelled
their engagements Therefore, far from the ad.
vantages. which Mr.. Randolph would have us infer the
city people have the country, they compelled
stand the bnt OF the pressure with but comparatively lit
tic aid from the banks, which doed small amounts
short ime-whle their country debtors INDUCED
with partial instruments, and indeed strangers
thing like the summary proceedings and Strengthened
cumsances which they daily Mr.. Randoph's
remarks are therefore, in every unsunust the
Banks and highly the traders of the city, who are so
useful farmers and whose prosperous condition he ought
seek produce, the Of promoting the
welfare Of the farmer and Of the country. How peculiarly
peudced then, be the mind that could endeavor te
excite jealousy in the feelings Of Of these classes
wards the other