Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1856-02-23
The Eanls O,jepsion,

Ihe hank Question.
be question Of reschartesng the Banks
OF Virginia, based on The jonl stock prin-
up'r, has been occupying the attention of
the House Of Delegates during the past
week. Several notifications of the law
rhatteting the Basks were proposed, and
one passed By the House, to the effect that
the branch bank notes should be redeemed
by the mother bank at not exceeding / per
csut discount. 1t was adopted without
derision.
Mr.. Rutherford offered the following
amendment which was adopted
Every quarterly statement Of this bank
shall. III addition to the Information which
thr code requires, also EXHIBIT the aegre.
gate debt due by such bank, the outstand-
ing debt due to such bank, its discounts OF
inands and foreign bills Of exchange, lis
loans TO directors, Its specis. circulation
and deposites on HE first day Of each
, month Ill the quarter it embraces.
Mr.. Rutherford moved further to
amend as follows:
| 1t shall be the duty Of the Cashier Of the
bank at its office at Richmond, to cause an
abstract TO be made on the Monday fore
| noon of every week, which shall exhibit
the aggregate amount of loans ard dis.
counts, circulation, specie and depostes OF
the bank al the said Office, on the proceed
ing Saturday the said abstract Shall be
promptly written in book TO be kept for
the purpose, which took shall be kept
upon the counter, opsn to general inspec-
ton aud may be copied from by any indi-
vidual.
This amendment was amended, On mos
ton OF Mr.. Lee, 50 as 10 require the brach-
es, also, TO make weekly statements.
NJ. Preston moved to amend by en-
grating the State stock system ON the
charter. Defeated. Mr.. Kemper moved
TO amend, requiring the banks to issue no
note OF a less denomination than ten dol
lars. Defeated.
Mr.. Kirby moved to amend the sill by
inserting the following clause
every Stakeholder in the Bank shall
be liable rateably, out Of his private estate,
| for the circulation and debts al the Bank
upon the failure OF the Bank, TO redeem
lis notes or pay its debts. to the amount OF
his stock in said Bank. !"
This amendment was opposed by Messrs.
Edmunds, Segar and Stanard, and sup
ported by Messrs. Rutherford, Gregory
and Garnett, and adopted-ayes 65. noes
II.
On Wednesday, the vote on this amend.
men! was Te.considered, aud the amend
ment again agreed to by vote OF 10 ayes
to 81 noes. we notice that Messrs. Chris
tan and MeChesney voted against the
amendment.
Mr.. Staaard offered resolution to the
effect that in the event a law should he
passed by the Legislature giving to the
State majority Of the Directors, the
Stockholders, IN general meeting, may re.
fuse to accept the charter, aud proceed to
| wind up the concerns oil the Bank. Mr..
Garrett moved IL amend as follows:
provided, That whenever .he CON-
monweaitf ceases {" be IL stock h older III
the said banh, no proxy or director on the
part Oh the State Shall be appointed there's
III. But the Governor may at any time APP
point Commissioners to examine and in
quiIe whether the said bank improperly
exercises its power OF issuing notes. and
the said commissioners shall have power
TO Inspect The papeIs snd examine The Of
ficers Of the said bank
Pending this motion the House adjourn
ed.