Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-12-15
From the Richmond Compiler.
I'lIE BANK COMMITTEE. &c.

We were really IN hopes before the meeting Of the
LEGISLATURE that far from finding occupation Tor
Comihtlee Banks. il would have been deemed alto
gcther unnecessary TO appoint one. lie Banks had
placed themselves in thu condition so long sought 10 be
cosrccd by large portion Of the party now having the
ascendancy in the Legislature, aud the cnactnens con
corning them had become voluninons that, as Mr.
Worhng,on stated w ednesday three ei the mos, dis
ngulshed lawyers III this city had dcclared, under III,
responsibility Of their profession and the soemnily
an oath, that they could decide what the law
in reference 10 particular question concctning The
Banks. Nevertheless has been considered thai Their
something for such Committee bo engaged up
and lis appointment has been made among the
ding Committees Of the House.
Mistaken IN antlcpaiiOns with regard TO tho ds-
position Of outstanding Committee have been truly
surprised at the first business cut ont for II. This is
embraced in the resolutions offered by Col Hopkins. Of
Powhatan. and adopted nv the House "Wednesday
This resolution appeared exceedingly novel shape.
viz: OF an instruction 10 the Committee Of Courts Of
Justice bring in a bill, forthwith" Understood } 10
authorize lac Executive to appoint five Directors Of the
pincii al Banks, instead Of four. as at petent Thus
proposing TO give him the appointment Of majority
The form of the proposition attracted promptly tho
tcLtion VI The House. Gentlemen exclaimed against
il as contrary 10 CUSTOM and requiring Of tho House
to give a vote in The dark about matter which should
be first investigated The proposition to take from the
Stockholders the control Of the Bank implied misconduct
and NAL administration on the part al tho directors
elected ny lbehl, ald mat InTeu ch'iec. senth'l
contended. should be looked into. and sed thoroughly
before bill should be brought in This ground was
taken by Mr.. Cruchfeld. and sustained by Nlessrs
Edmunds, Chairman Of the Bank Committee, Billing
Carter. and Wouhng,on. Mr.. Cruichfcld moved to
make the resolution Of inquiry. and to refer il TO the
Committee on Banks, and this motion prevailed by A
vote Of "a 10 al.
But is not this proposition most strange and incor-
ssient Cnei Strange. because II ia manlfesily unwsr
and unjust and inconsistent with the avowsd prlnc-
pies of the mover against the connection between the
Banks and the State. II proposes take the entire
control Of the Banks into the hands Of the State Thus
instead Of limiting the connection much abiorrod and
denounced, 10 make il thorough and mpe,e TIL,
shrewd mind Of Mr.. Edmunds prou,py dlscernnd this
and he portrayed, with cearncss emphasis, tho dan
gerous consequences Of such example.
Of which had elsew here been Afforded and he deprecated
in strong language, their urrence in this State
The State would. under this plan, not only have
control OF the management Of tho Banks but OF
their money too. II has tyrannsed them already
If this complete CONTROLS obtained, what may we no,
pecl2
A, the first suggestion OF Tho proposition, gentlemen
were struck with the in1uiry-why was it desired t.
place the control in the hands Of the Execuve2 Iiat
there been any thing done Ivy the Directors Of iht
Banks demanding such a transfer Of the controll u
response to this inquiry hints were given; and Mr.
jefferson Randolph made very broad charge that tn,
Banks were tavurlng the towns and depressing III,
country people. As correctly reported in the Wing
he said the present Dccors had sent forth their man
date, requiring a curtailmcnt Of all accommodation
dcbts-whlch were confined mainly to the country; ant
bringing he money to the city, where 1t loanet
out upon epheneral and unsubstantia papers which
would be brushed away by the frs, wind that blows
For this he would dspace the directory il operated
gross oppression upon the larmers for the benefit OF In
towns.
This charge was responded to by Messrs. Boiling an'
Carter, with much pruprely and force. Mr., hoiiin,
we again quote the Wing in few words eAplainc
the in which the Banks had been acting durin
the year. They had, he said. been gradually and 4
rapidly as they could curailing their Accommodate
debt. much Of which had been standing for years. AN
which disabled them from paying specie, and CONVEX
ing It into sixty days business paperrcsponsble All
reliable---and at all times within their control. 1hi
wa. the only mode they could adopt, by whi,h the
could discharge their duty TO the community. and par
tcu!ary the task imposed upon them bv tho las. lie
sisature |. q. redeem the Issue in specie.
Foi this Mr.. Randolph blsmrs .hcse ins,tu
tons, when they deserve applause. How often hav
we heard it rung and rung again. through every change
in the many toned voice Of Mr. Smith OF Ise Of Wight
that tho Banks embarrassed because Of the large
mount Of their accommodation paper lcsns1 TIC "Es
change PsnA'hls model alwaya-he asserted, exhibi,e