Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1853-01-18
LEGISLATURE OF VIRGINIA.
FRIpAY. JA:uARr IL, 1875.
SB,E ATE.

,i,, uhor;yinc an increase of IL" capital stock o.
| The branch u the EXCHANGE BANK o. '''S'''' 80.
A. G.nnSo1aS said MIR Presidents Tie position which
.,v ne mrthcr uf the committee lrpH when 'h1 DIN
was rnnr,rd necessarily ct 20 critical "N1H''ahn III m
,. al san ,,y,,urs unn :'hich r'S ball il haSe ana
ho rX animal ION induced =: c"n'c'in ~ my OWE MN
that it should PASS. An' u. ~! en- su.cc"s 10 :,
those facts md considerations rs c!.a! an" S""~P "
nu n,d and I'M. minds u ,is :':n-ic as Were ipftSseI
on my own doatt not J"u will be brought - ''' s''"'
conclusion. . j. ,;,i.. ,.,,,Ii
one nj The principal Banks ii Ihis city 1e ~ ~
crca &c IFS caral stock? and, ia oideF I" 'c' W. ~,
properly and fairly, views nelc5saTil; hi,'I - :
more banking capital required IN The city o! the
S,ccur what direct advantage will enafe 10 ie oaN - NV
increase proposed in the bill! S"i'e lew 80" st@
which have enabled 10 COLLECT en- TITS Siej.''
have in nv It.cmen, conclusive bearing %! Inc .s'
braurh uf proposition. bnt sn""s ara
Tie banking caral city less Ibis tay than II was
thirty years ago trade dourlc what IL ~as htth
years ago This is curious fact TO announce III ''e
age ot progress and d"veoFniehthni u 49, ',Is,
true The capital o the Farmers Bank rahais about mo
same il was at The period alluded IL. The numerous ca l
ties md disasters wicn a"c bctaei iic virginia bank
la reduced CAMILLA! about !lon {" doais ana 'hc
withdra wal Of tho branch Of the unea states Dana
in this city, with capital OF million ana ut'he' pow"
er Of drawing the mother Bank or an! "h3un' m.. y
could ptofnby employ and how, ind 10 what extent mas
hs vacuum been SUPPLIED? BY lie location in this city 81
branch of The Exchange Bank with capital of $500 OgO
(Which By this BILL is @ 70 o. sass 10
Does not The Senate clearly see thai The acs are rs
have stated that there - now less facilities Tor com
of mis- city has greatly increased in The last w years nnG
that in coming years that increase Will be sun more TapE
s oIcs,i.n which is needless 10 discuss This is tact
50 eli az That who may rcad and preaeHs subject
for glowing hopes and proud satisfaction 10 every czen q"
this Commonwealth -,
RIM Mr. President 10 the Stalls cn facts which Consists
!, , romnnrs,n of the banking capital ri VirgnIn. win
some of the States Of this cunederacy and 'c canE
~ c.n.I -, Rrhuont with some OF the COMMERCIAL! cities
of The United States.
The banking capital Of Virginia is fraction abvyr
$40 0O0 600. That u Massachusetts, with whr "pnlo'
ton u about the same with Virginia is S4S 600 OCO New
York 500 900 600. Rhode Island, with popuMi"n ."
LAT 009 has $4,000 900 Connecru with p'rnia'l'n OF
about $40 000 has Sl3 000uUU. S'nn Carolina RAINING
State like uwn and with population "i 0UuUO h's
81 500 000 Thus much sir "' comparison 0! M BANK
ing capital OF other Snrns wn Virginia Now sir WI!
ask attention Of The Senate 10 the contrast which 'e
sign to present the city al Richmond and oh.r
CONNER cia cities respect 10 the amount 81 Trading 'aci
ties cnuyc ed by each The city Of Richmond has AT This DAY
banking capital of s., ll4000 Boston 2aWDm0. Pre-
ydencc nearly SO GOO Charleston nearly 50 OCoOOO ami
Nashville enjoying n"lhaG fe the trade oil kch'"n6 las
s. Isl 600
which she pursued This SUBJECT ar me Static VAIN
which have brought her contrast IN tile Fcg!'d .'e
wrong Let the facts in rla States sprah for
themselves With many natural disadvantages 10 cor'crd
with they all "u.sIrippinc Virginia III ne career q"
wealth active wealth and greatness, and VT, The Gems %
Virginia. daily acknowledge her decline by calling He' poor
Old Virginia" will then ask. Mir President Is there ~"
here an array OF facts going conclussey Ia hnw NAT We
should give 10 this bill favorable consideration
But, Sir. President, there - c"nsIic'alon arising oar :"
the able and prudent administration 4 the rEcahs" Bank
Of Virginia, and hr profits winch have 'erri'on resulted
10 thu Commonwealth which mind constitutes an ar!
puucn for This measure. This Buns las been IN operation
about fifteen years ard beside" contributing Inach 10 s
public treasury in the shape OF dividends, II mas contin
gent fund of S26 600 - per cent on liz capital stocs-
one hall vi which belongs IL the State. hcsicF, 81, y
ll bill pa.srs the and ale q! Gow stock 10 me
amount 500 000 will brin. int" HE icasnY Sl6OOU
the stock being cent premium and The STATE penn"
entitled half vi the unuant resulting from The PFC
In!ums
But Mr. President; there is Gno he; view "i is sltfc',
which, my humble judgment, demands the passage vi ms
BILL The Legislature oi Virginia, nj each succeeding ses,
sion appUpa,ing large sums of money 10 be expended
in the construction OF raj roahs and canals penetrating HE
agricultural and productive districts OF our State, III every
hle ivatn dlrectcn and many Z" them t,mnai-
!ng in The city ii Richmond. The friends ." these WORKS
tell ~ tell truly OF the great mineral develop
menl and agricultural Increase, which IL 10 result I"n all
these public improvements Then sir il their hopes are
azed if the immense and rich eIhts 10 6e poured In
one continent stream upon the apof Rchmon5 nov is s-
prepared meet them, without some augmentation OF her
cummsrcnl facilities! Sir you must place your merchants
in position this regard 10 contend successfully win lhc
merchants OF other cities or III" canEo Keep ~ trade
which your lines 0I improvement bring ITEM In VAIN viii
pended millions, and taxed our fc pie who
SO periodically rit; in vain wi YOU have looSc 10 the
bri.ht of the future vii WAL 'Hi 10 realize hfo
ken hopes and disappointed expeditions men, *r rt u
look it in time, by adopting policy which WIN Secure the
adgantn yes which all aim Attain. Clearly beeSng N.Y.
self that the bill nugh, pass trust the Senate have
I 10 the same conclusion, and that II will pass.
The u.esJa tiicu TAKEN and the bill rasscc unan
! uOgslv.