Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-04

The SPEAKER laid before the House the following
communication, which ordered TO be printed on
motion of Mr.. Warts, and referred 10 the Committee
OH Finance, on motion Of Mr.. EpGISGToS:
E1rcrrivG DEPARTMrST,l
January, j, lSl2,
Sir: transmit herewith fot the information of the
General Assembly, n letter from the Cashier Of The
North western Bank Of Virginia, stating the amount OF
the notes of that bank and Of the Merchants and Me.
cbanics Bank OF Wheeling in the Treasury actu-
ally paid in for purposes Of revenue shall be redeemed
nj par in the city of Richmond within 60 30 days.
Also statement Of the condition of the Bank Of
Virginia and It's branches the 9th day Of Dec. last
Very respectfully,
Your obi seryt.
JOHN RUTHERFORD.
To the Speaker Of the House Of delegates
NoRTu WESTERN BAsK,
Wheeling, Dec. ~, ISL. )
Join Ruiterfoord Esq, letting GOrcrnOr.
Dear Sir Perceivng that the subject Of our notes
now lying in the Treasury of the State is creating
field for debate in The legislative body, beg leave
to trouble you with a few lines in relation thereto
The Bank has invariably made every effort to sustain
lis character and reputation, both at home and abroad,
and this evnced by its continuance to maintain spe
Gle payments during period Of great commercial en-
harrassment, and whist nearly all the banks OF the
Union were i'll state of suspension; this latter event
occurring relation this Institution only March
Of the present year
Inc Directors are ANXIOUS ana S0ItcilouS mat ms
character should remain unimpared; and with tins
vcw and at Tie same time wishing to yield every as
sistance 10 the Treasury Of the State demanded hy lis
xiaences and also prevent The continuance Of the
vtupcIat!on and abuse with which too many State In
sttutions constantly and unjuslly assalled they
lave authorized me TO say, tint the amount of our notes
Mc Treasury mutually patd N far purposes 81 re-
rcnne shat he rfde,mcd al par IN the Cuyof Rtehmoad
,cithiR 90 or 30 ddys from this datc.
Ii this mode Of redemption IL cnnadcrcd satisaco-
rs, o. which cannot for moment doubt, arrange
inen;s will be made Immediately TO remit from time to
rimei III such amount may be convenient and safe,
until The whole is quida,ed within the time above spe
citicd-although, i'll dong this, we suffer an onerous
operation, exchange being now from to . per cent
premium on Richmond, and per cent. Oh Phadel-
phia.
Permit me 10 suggest TO you whether, with 'lew to
prevent the State from suffering loss by the inland ex
changes Of the country "a matter by the bye, which il
beyond The control both of the Legislature and OF lie
Stale nsttutions it mg ut not be eSpedent 10 provide
by law place of depose in some Western portion of
the State, where the revenue arising from some twelve
nr fourteen counties should be placed, and that the bills
of the Merchants and Mechanics Bank and own
should be there received and disbursed and that, IN
like manner the collections for revenue in the Eastern
counties should be paid into the Treasury at Richmond
IN bills of the Eastern Virginia Banks.
An early reply 10 this communication IS respectfully
solicited. am, yours,
Very respectfully.
]. LEST, Cashier.
Cashier Brady, Of the Merchants and Mechanics
Bank has authorized to say that he will enter into
the same arrangement the above stated for the re-
demption of his bills at the Treasury.
J. L.. Cushier.
DEPRECIATION Of BANK PAPER.
Mr.. HOLIDAY offered the following resolution
which adopted
Rss0red, Tha, the Committee Finance be IN
structed inquire into The expedency of providing by
law that any loss which may be sustained by the Tfea-
sury in consequence Of the depreciation of bank notes.
which have been may be hereafter lawfully received
the Treasury shall be made good 10 the State BY the
banks which issued them.
Mr. lioLtsnAY said he glad to perceive that The
Wheeling banks had resolved 10 secure the ) ale from
any loss their deprecated notes now in the Treasn
~. His object 10 have general law providing
that all bank whatever, should he redeemed BY
the institutions issuing them without loss TO the State
BILLS PASSED.
An act concerning non resident guardians and wards
an TO revive the oct incorporating the Capecepon
Manufacturing ConPany-An act to extend the Pro