Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-01-03

10 be acted ca instead oi hf Dorfnah : In IA" oouis
of his remar hr made reference 10 statement OF
Nj iaeh-ni n tiYa t. the credibity and high stand
inc of the Wheeling Banks and seemed 10 base Ina
mon ton 10 dispose OF the notes upon this statement
deemed that sufficient information TO justify the CONVEX
sion # the notes int, available funds, neeeaicd IS the
Commonwealth was. lie made hypothetical remark
to the e.. that if representations made Ia
appear be thought the Banks there on the down
ward to insolvency. but expressed his Willingness
AZ the time. appearing 10 coniide m The statement
of Mr. Jaeksm 20 rlsk the notes IN the Treasury iof
what they would command.
Mr. Jackson understanding Mr. Wallace making
some unfavorahlc auson 10 the Banks IN the Norm
West warmly defended them. and rs warmly nSSniel
the Rchmand Banks lie called upon the Western
federation 10 stand by their institutions lie said the
action # The Legislature With regard 10 them was cal
culated d. icm injury and Protested ansi It IN the
name Of the people oi the Nest lie INDUCED this VEN
Of remark iar \ considerable time.
Mr. Wallace dsrlainfd any sirt Of sectional feeling
hostile IN the West, and was unconscious OF having sad
any Thing that justified the construction Mr. Jackson
hal nlaead upon his remarks He declared himself 10
be- IiTrsnan recognising distinctions between the
Fast and the West lie also oppressed his grateful
enc -, The services Of the West Ia the Legislature IA
s where tho interests ri his constituents involy
3D. 10 winch Mr.. Jackson had alluded lie dlSclaImed
having sad any thing feleeting the North Western
Banks and insisted thai the resolution he hal proposed
was that bsi calculated, IN his opmon 10 do them JUS
ucc.
Mr. loiiemaa moved that the second branch Of Mr..
Darnan4 resolution h. stricken out leranrnd'd that
twas nfatfir ~ ofor fwa propositions nj onccro say
o the Bank that viii ahe and So but II that was
incuuvcuent would consent toa more convenient af
augcmcnt
Nlr Donnan replied To ,lr IIoIman-he argued 10
show that would be- better Tor the commonwealth Ia
take ~ her bonds prsrsslon o the W heeing
Bank than iamahca saer fire IN the Wheeng notes.-
ii those bonds tabenn. thcy might bo disposed 81
7glIp az the, mrht be cancelled, and equal amount
ct the CONFERENCE.-The SCRIPT could hc issncd and he
had tho authority OF the Treasurer and other officers or
the ass, on that 1t would sell for % cents IN the dollar
The CommnnW ealth. II WIS true, would still be IN debt
for the full amount 81 the bonds hut then she would have
exchanged tn Nh'cng notes and lost nothing; and un
cs she ISSUED scrpas aboyc she would have 10 borrow
tho amount some otberaay The matter was as broad
5 % WIS ang.
ono, world he Ike the e boy vino took ezus 10 market
and told Tic people the price shilling per dozen, but
he would take niuopoaee He cNpessed doubts MS 10
whether the Commonwealth scrip would bring - and
nt,rrrl Ia sales at stock Ia sustain tins opinnn.
Mr. Harrison thought tie resolution vas calculated To
i'm urc the Nhooing Banks and seemed 10 regard the
reference 10 thu4o Banks III the Legislature cacua-
ted 10 aiu teir standing. The depreciation Of then
paper was OWN altogether 10 local causes. and he com
planned ii tie proceeding here as tending 10 excite un
Just alspielaa.
Mr. Jackson eonctlrrod with Mr.. Thomas. and cutter
oa 4 second timr into imprisoned STRAIN ol dcclana
tion with reference 10 the North Western Banks and
the Richmond Banks. He protested against the propo
sitlon Ia male the North " escrn Banks pay the Com
rnornycaith what he considered equal Ia specie. sc,
AZ. Cm6hirld declared that the remarks ot Mr..
Jackson wefe calculated tn excite suspicions as 10 the
eol,cnr, ofthe North Western Banks. Nh was alto.
rcthor mistaken in his construction OF the resauiun-no
man IL the lian>c except that gentleman. sad MI 1
had the fonolee idea II demanding specie from those
Banks The vehement opposition to the simple propo-
rnruatud 10 pTrWdcp the Banks lie Thought