Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1854-01-25

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him. however, that the course intended TO be pursued
that instance ouencedby some other motive than tha
ssesIt,nlng tho working Of other Banks lie desire,
at me investigation of the affairs Of the Bank Of thu
ou Dom inion should form distinct subject for the con
sdera,on OF the House apart from any other inquiry OF
smsr character was not proper that the operation
OF othsr Banks should be held palaon OF offence
Tor violations Of law the part of the Bank of the OIL
DOMINION even though such made in regard 4
any OF the Banks In Richmond
Mr. ToNLis said that nothing wa, farther from his con
mat an intention to the Bank Of tn
Ola Dominion HON any violation OF the Bank Law.
BROWN alter one or two other reTaiks Of the sam
OF those already given moved to lay the resolu
quest
Mr. STAPLES ofPatrick asked the gentleman from Kin,
William, Mr. Tomlu, if he had any evidence that th
practices charged ,sanst the Bank Of the Old Dominion
existed IN any OF the Banks in Richmond whose affair
the resolution proposed to examine into,
MI IoNLN, said there no evidence to that effect
inc desire to institute this inquiry investigation
founded entirely upon suspicious with regard to thei
Mr. BROWNS motion having been received,
ton.
Mr. BRowS, again withdrew hi, motion a, the requcs
| the resolution.
He was in favor Of thorough investigation into III,
proceedings Of all the Banks that the House may, wher
the question Of their recharer came up impose such
strctions as the result OF these enquiries would
AZ the ines, prudent and tending TO the public good
he held tho contraction of debt OF $4,000 bya Direc
though that debt be contracted through third person. e
| be violation Of the Bank law.
Mr. w made some serious charges against tho Trans
Allegheny Bank Of Virginia in the county of IL
| reference to which he urged strict inquiry.
Mr. BRowN again made some remarks the strange
course pursued by the committee who charged with
Old Dominion, insulating that sought Justify any
violations OF law the part OF that Bank by similar
violations on the part Of other Bank n such they should
succeed in detecting
Nr ToNLIN observed that he gave utcrance to no OK
preston which could warrant that conclusion.
Mr. BkowS observed that the resolution left for
such an inference lie renewed his motion, Law the
resolution on the table, and upon demanded the ayes
and noes
Mr. MAYO made some remarks In vindicaton OF the
Banks OF the city of Richmond giving his o.
ded upon aud strengthened his experience A. Director
Of one of these institutions for the past FIVE years. that
there was no violation 10y them Of any Of the Banking
laws.
Mr. CAMPBELL said tina, as a member Of the committee
appointed TO investigate the transactions OF the Old Do
mnioa Bsnk-he felt bound To explain the position in
which he stood with regard this question lie could
not with any propriety speak OF what TRANSFERRED during
the deliberations OF the committee the subject Of the
Old Dominion Bank did he II necessary since
the report would come mp the clerk could pre-
pare IT, which would be about Thursday next.
lie understood the object OF the gentleman who offered
the resolution to be full investigation into the
tons of all the Banks Of the State In the Of his
remarks he gave utterance suspicious which he
entertiined with regard the Banks cerred in the
resolution. For his part he had suspicious, but he
nevertheless desired that full investigation would be
had INTO the Affairs OF all Banks that they know when
the subject Of their recharer before them what
she conditions OF tese institutions really were. With
full light upon all matters appeaning them they could
act more understAndnsly upon subject important to
the public interests.
Tho gentleman from Petersburg (Mr. Wslace) oh
served that various constructions had put upon the
charters heretofore granted to Banks particularly in
regard TO the limitations placed the indebtedness OF
Directors TO the banks with which they officially
connected His views were different from those advanced
by the gentleman upon this point for he held the ndeLt
edness OF Director To Bank with which he
nected, above the prescribed by the charter when
contracted with other parties, not to be violation OF
the Bank charter. However, tie report would soon
be laid before the House. he should 20 fully in the
reasons which influenced him that conclusion. He did
not doubt but that desire ascertain what was the
construction put upon this clause in Bank charters by
other Banks the purpose the resolution
nov before the House.
Mr. ELLYsoS said he had objection to the re solution
If that portion OF which had particular reference to the
Banks OF the city of Richmond stricken out He ob.
ected 10 the selection of two particular Banks of the
Commonwealth for the purposes Indicated when no spc
cihc charge IS made against them. That would con.
venience the committee to investigate the Banks Of this
city, and save them the necessity of absentng themselves
from the business of the House. not 10 his opinion
reason strong enough to the investigation pro-
posed ~ih regard TO the Banks Of Richmond. Why not
select the banks in Norfolk, Wheeling for an inquiry
"f this character Little more if any, inconvenience
would arise from investigation in either of these places
than would follow trip to Alexandria for a similar pur-
% a
sion OF the necessity of taking the proposed by
the resolution, would frame il comprehend all Of
the banks Of the State to which this plea of suspicion
applied with equal force IN the case OF the Banks in
Richmond, against which the blow seemed to be aimed
Let commissioners be appointed, whose duty il shall be
TO hold investig alton into the Affairs of all the Banks OF
the State Under any circumstances he felt assured that
the affairs oil The Banks in Richmond would be found
conform strictly with every requirement OF the Banking
laws OF the State. lie would to strike out the
| words, in the city Of Richmond.
NJ atI h. .F..,t...-
Investigation should be had with regard to all the Banks
| OF the Commonwealth.
With regard to any of the Banks in Norfolk his word
for they would be found prepared for any investigation
which the House may think proper TO institute.
Mr.. PATRICK, said that in his opinion the debate was
taxing too wide range and ought with all propriety be
brought to close Too much Of the important time Of
the Honse already occupied and that further
cessity for debate may be obyaei he would recommend
gentlemen TO suffer the resolution originally offered 10
pass II the affairs of the Banks of Commonwealth
TO lie investigated the better would be 10 a
point commissioners for that purpose suggested by h
friend from Richmond, (Mr ELLYsoN). It would be i'm
possible for any committee to perform such duty within
the constitutional term Of the present session. He
the gentleman from Richmond would withdraw bis amend
men that the resolution may be adopted in lis original
! form.
Mr.. BoGLg said he desired 10 say word in relation IN
| the Trans.Alleghany Bank in Tazewell county fie
thought II his duty 70 do So the in which that
Bank was conducted being called in question by the gen.
,lemln from Petersburg Sir. WALLACE
The Preslcn and Cashier Of that BANK were in Ii
city when this House met and several DAYS engaged
making preparations in regard TO their Issues alter the
runofs Of improper Conduct Of the ars of that Instt
tons, circulated. lIe visited them In their rooms
while engaged in making these preparations and from con
versations which he had with them a different, times uuon
this subject he satisfied that tue ruinors were unfonnd
ed. lie had the Of these gentlemen to that
effect From his Knowledge Of them ho felt fully confident
that they would not lend themselves to any mproper I'M
dgnhed proceeding such Has circulated in regard 10
tho Institution, with which they we're connected They
assured him that they had certificates of the depoys m
conformity with the requisi,on, Of the chatter and that
in all their other relations the regard 70 its REQUIRE
ments observed.
lie had seen letter written by OF the Directors of
uat Bank, Who after adyeng the charges alluded TO-
says that 30 far his knowledge extended in regard 10
the management OF the Bank every requirement. of the
law governing that Institution strictly COMPLIED with
lie went on 20 say that he nothing improper in the
coudnct Of the affairs Of tie Bank and that so soon IA lac
discovered any practice exist which was not straight
forward and honorable he would Immediately resign n
connection with IT, lie Mr. BooLEJ would say in conclu
sion that The charges utterly uDoundei and az
proof Of the entire satisfaction which he felt fact he
had no objection that particular reference should be made
| TO That Bank in the resolution before the House
Nh BRow yasked II in order 10 offer ,nbstilni.
| Tor the resolution
The SPEAEER said not until the resolution as perfeo.od
when would 81 after the amendment offered By the gen
tlenan from RichfnVnd was acted upon
Ar F.aF agH.sl Al /. II