Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1852-02-13

prene Court.
Mr. =. H. Taylor has three very pretty musica
pieces viz : The "Ravenswood' VALUES, composed on
Douizc,ris Lucia" by the skilfu Jullien THE Wild
aunts Me-" song adapted TO fivofte Swiss melody
and "EuaIe" song written by IL. S. Cornwell composed
by s. c. Foster. They all published by T. FIRTH Pond
& Co.. New York
! For The Enquirer.
The writer has courted no controversy with any the
subject comforting the Governor the power 10 appoint
majority Of the Directors OF the Banks OF circulation IN
this Commonwealth, will he decline any controversy
that may be thrust on him from any quarter.
Let remembered that the law as now exists IN the
Cnd of the State provides that the General Assembly
if see f provide By for the appointment on behalf Of
Inc State majority OF the Directors Whether II was
wise or lust power appoint majority OF the Dr.
ecors should under any Of things be taken from the
Stockholders than the State, and De given TO the TO
vernon elsewhere invested, on behalf OF the STATE IS
question into the examination Of which, this writer has
not yet embarked He has deemed II necessary 10 enter
upon that sea Of troubles for the plain reason that by an
existing law il is already provided that II may be DONE II
the General Assembly think f The writer has been inds
posed to impeach the wisdom justice OF that exsns pro-
vision Of laws and he has been equally ndsposed 10 I'M
peach the Of the makers OF that law 10 the
extent Of alleging supposing that the law, az II e5ss
would been made if coDjuncture could arise IN
aw- for the General Assembly, TO exercise the power 10
provide the appointment of majority OF the Directors
behalf Of the State The writer has regarded the egs
ave declaration that the change may be made as emoac
ing foresone concusiun in respect its possible wisdom
and Justice has yet oroorne 10 carry his inquiry
further thar into the humber sphere Investigation whether
the existing power make the change can now be properly
exercised This definition 81 the writer's position, Is DEEM
ed by him enuugh-io he courts no conuovcIsy-n the
way of reilly 10 The article Of the Whg Of the 2st instant
80 far as article INDUCES in denunciaon Of the VII
er's suggestion clear violation OF private rights The
writer would present only refer the Wing 10 the la page
BOZ which gives power make the change; and II be
rr that would be invasion oil private tights 10 exer
else the power under conceivable state of things the
Whiy would cleverly ii would employ lis columns In
fiDu
be made less general authorize the change whenever
The General Assembly shall think fit 50 10 egisate
There are however topics Involved as 10 which me
Wbp cunruv rts my potons and topic as TO which
that aric does injustice, no doubt unintentionahy.
The Whi.s article says:
"But tits is not all nor is it the worst Of this PROPOSE
ton The author 0! the communication 10 which We have
alluded suggested controlling motive for lis adoplon
by lis means great political influence might DC a ca
hand and pretend 10 give his language-"e oot
attempt u express the idea he conveys
Such only my language, nor my moVe; nut II
is no, which my language, or INC TENOR o. my com
uncaiion conveys or warrants TO DC inferred me s
has done exactly as predicted would be done by those who
d.prece the proposed exercise the power 10 make Inc
change said would be asserted that we were seeking 10
introduce The strife Of politics OF party character into the
management of tie Banks. denied that such was my mo-
tive or my aim Relying on the justice and wisdom oil my
parythc Democratic party-ny communication declares
that we did wish 10 bring the Banks any more uhocr
rule have long been under Hhlg RUE
If il be true that rcat political influence mas been exert
ed in favor Wing party BY virtue OF the appointment
Of majority Df the Directors by the Stockholders o'hcr
Than the then and Then oy can 1t be inferred from
my communication thata motive TO secure tal aovan'hS'
!or my party operated to pToduc" my proposition Inc ut
cost cxien! which cos ration moved me was ms:
at ii there believe there Is, political advantage re-
suna nom Tie appointment Of Bank Directors II Is just
and proper tina, Democratic pariy winch largely IN inc
majority in this State should enjoy H. The only fact IN
,,anccd going show that political aid and comfort
.u and will result is that whilst the country Is Defoclac
n. cities wuere.lhe Banks situated Whggsh The
cause OF my thinking and declaring !u II Is just ana proper
ha the Democratic party should enjoy the resulting Tdvan-
S,at. ,uI,
M Democratic with the private Stockholders, VINO are
Democrats hold majority Of the stock believe .S 70
~ the ,acr though do know 1t ny exact Information
,,nnsitcriny all do know (Which is not ttIe on thF
,o,t cn1f nty believe that majority OF tle st1cN Is
aid hy Democrats There Is (oc taat hs 1t Iay) hnother
consideration and which was coniroH ing motive 70 my
oousitiyn which nlnnc would make nc change N6t
l, Of Inc is held by foreigners IL by pcrsons
residing ul The State The amount OF taxes pad and 10
oe paid by people Of the Stale depends 10 no consida
BE degree on dividends the States STOCK IN the banks
Whatever others may think am therefore, decidedly and
clearly of opinion say, whether majority OF The Stock
holders belong 10 our party another whether the Di
rccors ALL majority Of Them, DC Wings or Democrats,
That the controlling influenza in The management OF the
Banks ought |" be in the hands OF The constituted auo'-
ties of the State.
this discussion, which gu directly and strongly to show
want wisdom in allowing individuals and the State TO DE
Joint hoes stock in any corporations and MS long as the
a,icv tolerated. there may and probably Will DC such an
occasional if constant cashing OF interests and views
OF cement whether joint stock companies Tor bank
ing any other joint stock companies as viii make desi-
rable and the people At large tina! the government OF
the State shall have the control in the direction OF them es.
pccialy when stock Of the Stale large proportion OF
the whole stock OF the company.
The article of the Whg asks What would be the benefit
OF the measured Are the Banks misalanaGedl' suppose
the questions asked 10 be answered Gun bono That s
the first question: and the answer Is for the beneht OF me
tay.paync people Of the State Am 10 DC asked hop
their bentfR The answer by reducing the number o!
bank officers and their salaries and thus increasing Inc OIL
vidends Ia the and cssCning taxation. Am 10 be
asked saarGd officers Of the Banks ought 10 be re-
ducedl answer The Bank Presidents; not one IN hse OF
rss Of course $1,000 or $3.50 And TO that the saa-
lies the ;ees and clerks are too high lei vacancy &C.
cur. and will be that no other clerical business IN any
part State will keep the best PAID IN ohcT places from
fockiuC like doves the windows OF the Banks.
Tho other question cited above is, the Banks risrdn
ared? The answer is yes Am to be asked in what
spccsl The answer part. By paying too large salaries
in almost all cases and in some instances 10 larger clerical
corps Than il requisite 10 the business Most CLERKS
work all dav; work six hours al most-aGd by
pnyng Presidents what is dune by cashiers Prooo
bly, the Pr sidcns of the mother Banks ought 10 be paid
suitable salary yet learn how the Presidents Of
Branc Banks en,e themselves by any services they
render S more indispnaby is the mismanagement seen
u the equcn, and large emhezzemcnts and oooeres That
have occmrrrd and been discovered Let a Bank be
robbed whole contents, and one, who does
wish the rr, order OF lngs disturbed, ready BY
exact caai n 10 shuw is,t is trivial affair for thai
the stock is impaired only dollars share! AS have
before said proposed change will be favorable Than
the present order OF things bring existing but undereoped
msmana cement public view and cpobation. The change
would probably bring about improvements as well as discov-
cries. Most OF the losses by excessive accommodations
have resulted from The fact thai the Directors at the several
Banks in the city, in The dark 10 what s going
any bur their Board The change proposed might
bring about of weekly exchange sheets OF discounts
between the Banks in the vicinity.
But am tired OF writing aud leave the fruitful theme al
mos, untouched Indeed have only aimed 10 invite 10 the
consideration OF the subject ADLER pens and tongues do
desire make political capital Influence for my par
~ am willing that the opposing party shall always
enjoy advantage which necessarily results from having
the appointing power office and the controlling influence
in the Banks Tam not willing that the Legislature OF the
State which taxes the people almost at WILL shall allow TO
remain other bands-and small extent foreign