Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-02-24

nj Al
VIII fe the 'oies OF those who have alsnys heretofore
s'he "s Inc improvement IN eyer! shape, While ain
It'd Iy rs especial friends that that amendment viii
a'n' o o'ef> whose vote are necessary to s passgc
t'nw m,seli upon my constituents Ter my de ene
hey must do Ia, same
The Bank committee haas at length aru,iy prepared lis
OIL. II wti i expect. le reported Gil Monday OF Tues
day 1t s thus lar agreed that the Banks shall resume
sn tie III 81 Jomeey. Ist3. or sooner IL the prncn,
Banks IN Baltimore and PHILADELPHIA shall resume her,
that da, III. bile, all tie renal,i,s FIR sus
els on being rcrittcd. The bin also provide i,r the.
sue Of aud two l,lar notes. redcinallc in speci,
wicrc issited II yer, doubtful however, whether
can rri through the Log :sla,ue in this shape | NAV
safely say. however, that the day Of resup on will no,
DC earlier than tie Isl 81 October Among the prom 81
ons b,,de the committee Wis one 10 exact The BaLs
a Pe'aHy 4 per cent. On Ire trlolc a,sennt #
Their circulation c they rcnlaia in STATE Of suspen-
sion! The effect # this proposition, ii sues, ssiu and
viii I've renewed IN the liousc may he the fact
that on the Isl OF January last, the aggregate amount
OF the circulation Of TIE Banks tx this State was s. 3d.
Uo-sis per cent. upon " hich amount mould ho S6J.-
lN' moe than h0!t = Ho ,crr,tc 4 tie State. Bu, As
the State owns abb NJ half of The stock c the Banks one.
bali If tls tax would fall upon herself In oherwor,ls
size would ROB h,rs, OF iii ,idcnds in order 10 nav her
taN-"mptyiny one pocket fill the other The remain
ing i2Su.GuO would lie ,xac,,d fi,m her rartnos
the individual Stockholders. who worse or than her
would have 10 pay all. without receiving any--a
profitable partnership. truly, SIX rcr cent how
ever. was srncA @: tho section and prop stions
10 fill with L. and = surccss,cly spbnHl,,d and
rejected, finally. il filled with i9r cent which
would yield nucof g. IS and then the section
Itself was stricken from tho bill by the vote Of lis friends
who. IN that shape. disihed it, 1t might lie very we'll
to substitute such prov the Bank law fer the
lSfaIues which II now clnb.,dics. after a rcR,npon in
order to prevent future SUI nsons but doubt whether
would be wise policy To penalty Of one per
cent now. when we are cn'cayoring 10 bring about re
sumption, since lis manifest tcnd"nc, i. weaken the
banks aud thereby TO retard that event If a Ian
10 The Stale, by compelling the Banks 10 increase
then issues, has, all admit the effect Of defer
ring the resumption Of sp.,e payn ats ua,h ln1re
would the exaction Of this penalty have that effect
tax o6 per cent toe would re obviously oppressive upon
the individual stockholders, being about sir dars upon
the hundred dollars value. while lands are only taxed
bout l2i cents in the hundred dollars value | do not
know that bank stockholders are such an odous class in
the community, that they, conIr shy about ono in
thousand Of the spuati~n should lie made to pay one
thrd Of tie ta,e,,
bin passed the II m,e t Delegates to-day l., nm
loriiy Of p establishing independent Banh In tic
Furnishing town Of vlle in Albrrmarlc county,,
he annouHt eHeht Of this fact might oNct some sur
prsr, IN tho present Anti Bank age. if uncA planned
The capital Of this Bank Is POO O0a, but il may 90 into
operation SOON 81. 600 is SUI scr ed and paid in
all in sircr; and the Stockholders are to be bound in
their individual rs we'll a- t!lC corporate eapaci,y fr
all the liabilities u the Institution This You are awar.
is iavoTair idea among the Loco> many If whom vote,
tor tbs bill the Wings " no voted i,r it, are will
ing that Tho S'o''ssil!r people WHO end,rcd ,he4,
"tndtcns, saa Try the experiment as it is upon a
small scale; and if ii be slccessul ono it may lead
hereafter to substantial reforms in the Banhinu s,s
lem. doui whether the stock viii he Subscribed on
such conditions though the 10 ;toncr assured tia,
il y II DC.