Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1858-04-30
tFron the Rtohmond south.l
OntFaseons AelIOn ID lho RIehmond Boz

Outrageous Action of the RIchmOnd Banks
The Banks of this city have made a formal
proclamation that. after the LIST of May, they in
tend to reject the notes of the Independent
Banks OF the State unless they keep deposit
account here for redemption
The necessity of preparing for the chnnges'in
the Banking System, enacted by the last Lee
gislature, is the pretext Of this surprising and
most mischieVous measure. The ffimsv excuse
will deceive nobody. The Banks of Richmond
are allowed twelve months, within which to
provide fol the new order of things; and 1t is
utterly idle for them to put forward any such
apology in justification of a resolution which
originated in quite another motive. -
The truth is, that the Banks OF Richmond are
controlled in this matter by blind spirit of re-
sentiment against the legislation oflast winter.
Already have they concerted operations with
the view Of throwing off the restraints ofreform
and recovering their old privileges and imnun-
tiles. Tothat end, it is primarily important
that the public should be exaspernted against
the action of the Legislature. In resolving to
reject the notes of the independent Banks, the
Bunks in this city mean to inflame a popular
clamor against the General Assembly, and so
compel a restitution of the exorbitant prerogR-
tiyes ofwhich they have been deprived. That
is their object. They put the people upon the
rack with the hope of extorting concession to
their unrighteous demands In few days the
community will feel the first turn of the screw,
and they will have no rest until an extra ses-
sion ofthe Legislature is convened for the ''re-
lief" of the Banks 1t is but "a repetition of the
policy of coercion by which in former day the
Bank of the United States attempted to enlist
the people in defence of its abuses. The con-
spiracy iuied then, and we believe is destined
to us ignominious defeat in the present in
stance. The popular intelligence is not so dete-
riorated as to be imposed upon by the trickery
of Il conclave of Bank Directors. The popular
yNirifi 10 mfr CO 10 Ia no L y06 infn
submission to their arrogant pretensionS.
Ii the Banks of Richmond are allowed to taboo
the notes of the Independent Banks, the conSe
quences will be most disastrous to the interests
Of the business community. Last fall the ineV-
liable evils of the panic were infinitely aggrava-
ted by the refusal of the old Banks to receive
the notes of the Independent Banks. Shall the
community again be exposed TO calamities from
which the trade of the Commonwealth has not
yet rallied, in order that the Banks in Richmond
may crafty mean jealousy of their rivals and
promote their own interests at the expense of
the public welfare? In this city there may be
few Spccia! tavorites Of the Banks who will
profit by their acts of injustice aud oppression,
but the general operations OF trade will be para
lyZed and the great body of business men plum
dered for the benefit of corporation and CO.
terie. Will the merchants of Richmond submit
to the outraged Ifthey have the spirit of manly
resistance for which VIC give them credit, they
may compel the Banks to recall their obnoxious
proclamation. Nothing more is necessary than
an adequate demonstration Of the public indig
nation. ~
Meanwhile the Independent Banks will not
submit to be crushed by their vindctiye rivals
without ut least rctalating the blow. They
will refuse to accept the notes OF the Richmond
Banks; and between the two the people will en-
dure such pressure as they have not suffered
within the memory of living men.
We do not know that any more words arc me-
cessary to an adequate conception of the mis-
chief which will result from this actionof the
Richmond Banks. As, however, we also desire
the public to appreciate the elevated morality
of their conduct, we must mention the fact that
they are now flooding the city with the very
notes which they intend to discredit in four
days.
Is it possible that community of intelligent
frecmen can quietly endure such injustice and
oppression