Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1851-07-15

the pIntay - represent their interests III the legsa
tuie-Sia:l not select man best quahed 10 serve
's: ,"rs ,o:soot he will take special care to pro-
ie"t l4:a t>-w feel deep concern Tor the sue
cras oil the !eu>ares entrusted to his management and
viii posse the ability, integrity Of character and know
ehSe "h!"t wiii ensure This strikes at the
"hoe representative system, which is designed TO com
nc ~ one bhy representation Of the interests OF all
through the agency OF special representatives OF the
parts.
Again, should be. pleased know il the gentleman
from Accomac (Alr. WISE, will exclude the poor CLERK
oil maiiact'rlnS company because it IS incorporated,
nT any ncer OF such company, receiving salary OF
s0 Why docs lie not exclude the clerk or officer Of
company OF the Sort which is not Incorporated,
or OF the commission merchants and Wholesale dealers
hthe large cities Why not exclude the merchants them
seyss very large part Of the public revenue is de-
rived from the tax on licences the merchants Ill
recty interested in essenng this tax they wealthy
anu influential as class and therefore they ought to be
excluded The same reasons would exclude lawyers,
physicians, landowners, indeed ALL except those who
have no interest in the State at ALL
Mr.; VOOLFOLK Ibeg leave to suggest to ny
friend from Accomac, (AIr. WlsE,) that he will ON
PlIsh ms ends eheetuay, BY puttingi prohibt at
the END OF the NTH section OF granting acts of nco Va
ration and we will this State from the danger
being oTerrun and swallowed up by these corporate
bodies. Now, say every object Joint stock compa-
ny can desire to accomplish may be accomplished
der an act OF limited partnership, but If you permit
the legislature 10 90 and grant corporations for
and every PURPOSE this commonwealth NAV be shinged
all over with corporations. You NAV exclude the
officers OF these companies from the deliberations
OF the General Assembly, yet the stockholders,
their agents will be equally as dangerous as the off
GERS OF the corporate bodies themselves would
suggest theleroTe, to my friend, that the best
accomplish the common object we have in view,
would Dc 10 prohibit the legislature from granting any
acts Of incorporation at all and if companies choose
TO carry any kind OF business and engage in any
speculation, let them resort to the law of limited CO.
partnership by which they be protected from all Ii
ability, over and above what they put into the concern
If the gentleman will incorporate such principle will
go with him heartily and most cheerfuy. Here per.
NIT me to observe that generally in all questions. except
the basis, the views Of the gentleman from Acconac
meet my hearty concurrence. If the gentleman will
only Introduce provision prevent the legislature
from granting acts Of Incorporation think for one that
lie wll have done good for the commonwealth than
III all the other acts ofhis life great and glorious rs
they have been.
Mr.. FERGUSON. What is the question:
The CHAIR. The gentleman from Shenandoah, (AIr.
NILLIAMS) having called for division of the question,
the first question upon striking the 5th section.
Mr. FERGUSON. desire only to say in regard to
this amendment that do understand bank drec-
tors to be excluded BY it, The position taken BY the
gentleman from Augusta (Mr Shelf EY) is not applicable
10 that amendment y bank director receives no COM
pensaton Tint amendment only applies to officers
under corporation receiving $50 per annum. ap-
pllshng his purpose, because he attempts to accom-
pllsh too much Now cannot any good reason why
there should be general exclusion OF nil the officers
OF corporate companies. But there is reason. and n
very strong reason in mind why NIL officers of every
grade md description in the banks of this Common
wealth should be excluded from the general assembly.
shall on NIL OCCASIONS entertaining the views do in
regard TO these institutions vote to exclude presidents
and directors OF banks from seats in the general assem-
bly, look upon these corporations occupying dit
crent position in this Commonwealth from rail road
companies. We all know the influence they have in
every community where they are located. Gentlemen
may disguise and deny ii as much as they Pease-t Is
Il papabe. plain and startling fact, that they have ex
ercsed influence wherever located, upon the Potl-
cal sentiments Of the lnity. and their power Is
brought to bear upon every occasion i'll controlling the
politics of the country Never by my vote shall pre-
sident director of bank salaried not alarIed be
permitted to take seat in tlr general assembly Ny
opinions do not apply to other corporations TO the same
extent NJ in this case would exclude presidents of
railroad companies. That is far MS I will 60 there:
II the gentleman will specially exclude presidents and
, directors of banks, | can go for his amendment.
, AR. TAYLOR have been satisfied by this discus
sion that it is very easy to break down but not to build
up have to the conclusion, in view OF the dill
cutes presented here OF presenting any satisfactory
substitute in lieu oil the provision reported by the legis-
ntive department., adhere the original provision
By the committee. As to the amendment now
before the committee. submitted Ly the gentleman from
Acsomuc (lr WNL) submit that there many
reasons WHY lnucn larger CLASS Oh
embraced in the amendment. 1t will be mpo!ltlc IN
framing constitution. 10 fcter The action OF the
government place serious distractions 10 the work
ing III the machine. The Legislature will have power
if they think proper if the evil bIcomes manifest, to
provide by law that bank director railroad con-
tractor shall be eligible seat i'll the general assem-
bly, We know that until tue last yearuntll this new
code wen. into operation director of banking com
pany eligible 10 scat The Legislature. have the
power in granting acts of corporation. TO make the
lo.,, oil, M.
that the code does dsqualiy them. Ny impression
was, that the code does not exclude them But 1t
suits y argument better that it does rose to notice the
remarks of the gentleman from Logan, Mr.. FERGrsoH
have been, perhaps, more intimately connected with
the banks of this Commonw than that gentleman
have had better opportunity of observing the course OF
the directors OF these institutions and far my
Information extends tie power Of the banks has never
been exercised in the least degree in the section OF the
country where ain located, 10 influence the politics OF
the country. do not believe, in the place where re-
side that it crossed the mind Of bank director 10
think for 4 moment Of nquring whether man who
asks for accommodation at the bank is whig or demo
GRAFT
Mr.. FERGUSON. Ii such is the fact, then the sto
res in circulation from his city have no foundation il
truth
Mr:TAYLOR. That makes il incumbent upon me
to declare upon this floor that do not believe in any
statements which in the least degree connects any geu
teman who has charge of any bauk in the city which
have the honor in part TO represent with the charge oil
having abused the power vested i'll them. am glad to
have the opportunity of thus publicly meeting the
charge aud dsavowng that any such statement has any
foundation in truth
lam asked by the gentleman from Acconac how d.
recors of banks are appointed ieaTe that to other
gentlemen 10 answer will say far the action Of
stockholders OF banks are concerned, am justified
in saving no political considerations have ever en-
tered into the minds vi those charged with the
mower | wish | could say the same 20 far as the
action OF another department Of the government Is
concerned within the last Years 1t ia true there
ha been an effort made of late years to divide the d
rectors of BANKS among wings and democrats doubt
tho policy of excluding wings or democrats. nm
h.ppy again repeat as far as any ntmaton has been
thrown out here or elsewhere against the purity of the
management Of the banks OF Norfolk and the action of
any OF III. directors that any such statement in any
degree tending peach their character, is utterly
4 without foundation.
But this ia aside from the issue hop, ms do not