1812.060: Propositions … with Some Objects of Benevolence and Public Utility.

Published: 1812

Full Title: Propositions to establish a mechanic's bank in the city of Richmond, connected with some objects of benevolence and public utility. By Henry Banks.

Author: Banks, Henry (1761-1833).

Place Issued: Richmond

Issuing Press: Augustine Davis

Description: 24 pgs.; 23 cm. (8vo).


A commentary on the anticipated agenda of the forthcoming session of the Assembly; Banks had published similar commentaries before (1810.109) and after (1811.025 & 1811.026) the December 1810 Assembly; his principal concern was the lack of public institutions that could assist the economic development of the state, particularly the limits placed on finance as a result of limiting banking functions to a single Bank of Virginia controlled by the wealthiest Virginians; the December 1811 session chartered a second bank, a Farmers' Bank of Virginia, but that legislation did not match the scale Banks had proposed previously; rather he wanted dozens of banks that would democratize the state's financial institutions. This tract also offers the text of a petition to the 1812 Assembly (1812.111) for a mechanics bank at Richmond, which he hoped would be the starting point for a debate of legislatively-approved projects of "public utility." However, the Assembly rejected the petition out of hand on the day it was received by the House of Delegates, December 5, 1812.

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