506 



THE FARMERS' REGISTER. 



Constitution. 



We, the undersigned, hereby unite to aid in 

 forming an Association for promoting Currency 

 and Banking Reform; and agree to be governed 

 by the following constitution. 'I'he means to be 

 used for the objects of the association, will be to 

 aid the diHusion of correct information in regard 

 to the uses and abuses of banking and currency, 

 through the circulation of cheap publications, and 

 by any other available mode for spreading know- 

 ledge and truth on this subject. 



§ 1. Any person, friendly to the objects of the 

 Association, may become a member by siirningr 

 this eonstiiulion, and paying to the Treasurer an 

 entrance fee of" one dollar. 



§2. The oilicers shall be an Executive Com- 

 mittee of seven members, to be elected by ballot 

 in general meeting of the Association, to serve 

 one year, or until a new election shall be held. 

 The Executive Committee shall choose, out of 

 their body the President, Secretary and Treasurer 



of the Association, who shall have the powers, 

 and perform the duties, usually belonging to these 

 several officers. 



§ 3. The Executive Committee shall act ac- 

 cording to its discretion, for furthering the objects 

 of the Association, in all matters not otherwise 

 directed or controlled by the Association in gene- 

 ral meeting. 



§ 4. Each member shall pay (besides his en- 

 trance fee before mentioned,) one dollar at each 

 annual meeting. 



§ 5. Seven members shall constitute a quorum 

 at any meeting of the Association ; and three 

 members a quorum of the Executive Committee. 



§6. This constitution may be amended or al- 

 tered by a majority of the members present at any 

 meeting of the Association, after notice having 

 been given of the proposal to amend at the pre- 

 vious meeting, or, otiierwise, to the Executive 

 Committee one month or more previous to the 

 amending. 



TO THE GENERAL ASSEMBLY OF VIRGINIA*. 



7%e petition of the subscribers, voters or residents of the town df Petersburg, respectfully showeth ; 



That the general currency of any country being in irredeemable and therefore depreciated paper 

 money, must always cause great and still increasing evils to the properly interests, habits and morals 

 Df the people. 



That the losses and in|uries caused by such depreciated currency, are principally and necessarily 

 borne by the producing classes, whose earnings and products are either directly made by honest labor, 

 or derived from real capital which is itself the i)roduct of previous labor ; while the profits and bene- 

 fits of the irredeemable paper system accrue to other classes, and especially to the banks. 



That since the banks stopped payment in May 1837, the people of Virginia have been suffering 

 under the evils of an irredeemable and depreciated paper currency, and that forming the entire cur- 

 rency — with the exception of the short intervals of lime, when the banks truly and liilly paid their 

 notes and other dues in specie. 



That immediately after the first stoppage of payments by the banks, the General Assembly was 

 convened for the purpose, and hastened to pass an act of indemnity for the violation of law, and of 

 indulgence for the continued denial of payment by the banks, to a certain future limit of time ; and 

 that like indulgence has been again since extended, and before being extended, the privilege was 

 assumed and acted on by the banks, in violation of the then existing law. 



That though the last such legislative act of indulgence to non-paying banks is to expire by its 

 own limitation next January, still, judging from past experience, your petitioners fear that the indul- 

 gence will be again and again extended by law, to the continued and increasing injury of the cona- 

 munii}'. 



Therefore, we pray of your honorable body, that no further extension may be permitted of the 

 indulgence to the banks in their denial of payment of their notes and other debts ; and that such 

 enactments shall be made as will hereafter effectually prevent any bank of this state from withholding 

 payment — or, at least, shall prevent the banks making profit (as heretofore and now,) by refusing to 

 pay their dues, and inflicting on the community all the evils of an irredeemable and depreciated 

 paper currency. 



SEASON AND CROPS. 



On the evening of the day when our last re- 

 marks on this subject were printed (July 30th) 

 the much desired rain fell here in abundance, and 

 generally in all the neighboring counties within a 

 few days thereafter. There have been repeated 

 and abundant rains since, almost every where in 

 this region ; but still there are exceptions. The 

 corn crop will be a good one. 



The wheat crop so far as known, seems to have 

 fallen short of even the last stated expectations. 

 On the lower James River, however, the product 



has been better than was supposed after harvest. 

 We regret that the facts communicated to us 

 on this head have been very lew. A farmer of 

 Fauquier, and one of our subscribers, wrote as 

 follows, on August 12th : " The crop [of wheat] 

 in Fauquier, from the best information I can obtain 

 is greatly below an average ; in very many in- 

 stances it yields little more than half the estimated 

 quantity, in very few instances more than two- 

 thirds. Quality good." 



Within a week after our last month's elateraent 

 that the i)rices of wheat here and in Richmond 

 were too low compared to those of New York 



I 

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