Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1830-12-29

:. M Ps.u'n' IL share OF this capital stock sells
uis proves that, In the estimation Of The
purchaser the superior advantages of This
OF his hundred dollars. worth that prenium In
u.. e opersuons OF the bank, Its capital is used in
'oanher deemed by the purchaser more advsn,areous
than any In which he himself could employ his ,nons
FOR the privilege OF having his money invested bv he
certain premium. The premium is In reali,v ,ha.
onsueration Tor this privileges: equivalent given Tor
nv supposed sdvantages of particular mode Of inyes,
my capital; not. itself, On investment of capi,,
this privilege OF having ones money lent on, i ,n
bank was originally created by the government In IA
sor oi NOSE who should take its stock in other words
Oh me rank Vds IL created for a o.6,ife or az, in
aennte term The term fixed Whatever premi.
u. s,at any moment paid for stock, Is in re-
ahty consideration for the privilege during the re-
mainder OF this definite term To Withheld = renewal
~ e oua,'er, would not be TO depreciae the property
pss unaer tue direction OF the bank The money
which, from the conditions Of lis incorporaton "a u.ces
sary TO be supposed TO be there would be s,jlJ
ana It's value would not be impaired. To denv tho re-
% .ou.a on,y DC refuse TO create privilege
similar 10 that for which the premium has been Maid .
The premium which has been paid for the exis,;p r
vege may be more than 1t worth; but f there be
case In which Government may with iu,,ice coo Az
the citizen. cdreat enptor, Ii Is this Had The tor.
been indefinite, the would be widely diilarent
Every one will feel the difference between the refusal
10 renew privilege created Tor definite period and
the sudden withdrawal Of one created for an iudo6n,o
period The member Of Congress TO whom the Report
on the Bank is ascbed, is said TO be one of the most
oent upon the Withdrawal of the sugar duty Let him
august MS scales and ascertain how much the consider
au9ns which he has so zealouy urged in behalf of the
interests Of The stockholder ought weigh regard to
Inc circumstances which have caused the citizen TO nav
premium tor the privilege OF putting his money into
ue sa.e keeping and under the profitable cement
o. She BANK Let him calculate how tar by the time the
charter expires the advantages for which he ba. thus
paid VIII have remunerated him for the consideration
given. IL he finds that this remune ration will NOT he
completes let him further enquire how far the had h,r
gain be fairly ascribed the conduct of
how far any act of theirs has afforded Just ground for
calculating on continuance of the privilege beyond
the term for which ii expressly granted If the re-
suit be such satsfy him that the bank ca pita pur
CHASER VIII have been betrayed into loss by the con.
Duct Of government let his respect for public faith
list Nun In the defence of the stakeholder On the other
hand let hin weigh the circumstances under which The
c"Zen mas oeen led not TO purchase privileged mode
oil lending his money, but 10 convert CON
verthis money Into property Let him consider the
obJec, OF the duty and its history Let him calculate
Prospective withdrawal OF that duty,
10 parha'i'y disappointing him Of certain advantages
leaving him his capital untouched; but in suddenly
ducing the value OF that capital to three four,hs q,
halt Of what he has paid Tor it, Let him note tho
aggravation Of the injury that would attend a Sudden
cessation oil the duty and II he finds in all this mo-
Thing TO cntiie thepauter to small degree OF for
bearance at leas 10 short notice. let him not b..
restrained by his Discrimination 10 the pro
perry oil individuals" from adding his weight 10 The
power that would crush the planter
Ash have b~iore stated, the present IL PURELY a re-
venue duty Sugar. planters had art nor part in lie
imposition Sugar-pantpg has, in fact be On called in
existence by It's imposition Under the stimulus,
Sky millions have been invested in the business. The
circumstances under which that stimulus has bssn
administered are such TO have justified and neces
sary create strong confidence in long continuance.
AGA s stronger conldsnce that II would not he sud.
denly withdrawn. This is undeninbIe 10 respect n m.
greater part OF the duty: one-sxh was imposed after
me wH IN consequence OF the ex,raordinsry neces.
sities OF the Governmen the remsinder for ordinary
revenue, at time when the public nditures re-
comparatively small. That these fve.six,hs would
commune as long as the Governmen mt should oure IN
ordinary revenue, has, TO the present day been ar
.Seontes'aoiy lair presumption An announcement a
THIS Gay, oil determination on the part OF Governmen
to sufer the U g. Bank die would be tended 40 II,
the effect OF limiting he premium on its stock; In ohe
words on The capital under its direction, the value
or me remainder OF the term. OF the advantages de
iVto from that direction. The s,ockhol iers would
meanwhile, be LEFT 10 the enjoyment OF those adyan
a. .he end oil the term the stock itself wouId' re
MAN unlinpa'red. An announcement OF a deter min
hon TO make the contemplated reduction of the dutv
would Immediately cause fall in the value of surs,
properly l. OF from twenty-five 10 fifty per cent Au
estate yesterday purchased at 6fy thousand dollars
would tomorrow sell Tor twenty five or thrty pro
pery now estimated at six'y-mions, would then h,
worth thirty or forty millions. This would he the r
terence in the eH.c', If the planter were aJ,os
the same time as the totkholder But II he were M
allowed this respite the effect would further be TO pu
property thus " deprecated"
The question has been supposed to be simply. wbe
her the consumer OF sugar shall be taxed for the be
nj oil the producer! But, nde pc ndently of the fac
that the tax lie not laid Tor any such purpose this
ton presents the subj in utterly false Ight TT
u ue mar ho'e who have inherited their properly
purchased at remote period, derive positive benz
from the duty But with regard the gre at mass IN
recent purchasers, the fact is quite other wse Tn
duty upon sugar enters into its price, its price dee
mines he profits oil property, these profits def,
u mine the price at which such property il sold TIL
recent cash purchaser has therefore, paid the d,fy
dduoce Tor several years to comes dit
mas contracted to do So portion of il has been mai
in the price Of land in louisiana another por,ion in IA
price OF slaves bought in Virginia This duty ha, bee
mus paid or contracted for, under the confidence b
would not be withdrawn, at least without no,ic,
Under The undeniably fair presumption that an hmm
lau' not by any agency Of his for his benefit but
the people oil the United States generally with Vie
soiey 70 revenues not under extraordinary circums,ar
ces ior extraordinary revenue, but under ordinary cir
cutnsences, for ordinary revenue,-ihat such an i'm
post alter continuing for thirty years. and after occs
sonng an investment OF sixty millions (he far
part OF 1t within very short peTod) would no, be sud
denly removed. la regard to the grea, mass of the s
gar-growing interest, then, the gu eston is not az IL
stated to be- The tax is not paid for their benefits the
nave themselves ProsPectivey paid the The cues
non 49, whether, supposing the post to be
be not an strict justice, the duty OF the people of IN
United States so to shape their course in relation 10 h
SUBJECT as TO avoid breaking the necks of all who bav
suffered themselves TO rely ordinary degree q
y consistency 10 the revenue measures of the Cavern
ment and an ordinary degree Of respect for the pro
: perry of ibdisijuals." ~
have heard that some, while they canno, derv IN,
hsrshness OF the proposed in regard TO fe an
interest," It'll avow their determination 10 pursue t., az
means OF deinolishug the protective system The oh
Iect being TO remove imposts laid for the express MIR
po OF protection, this impost s to be the first "a
moved, b. cause II incidentally yields prote cIon Til
Interest is to be sacr6ced, that the sacrifice 10 /,
se either necessary or just; but because il may per
maps prove the means Of relieving other interests from
conceived injustice. Let every Just man beware hoe
re imapl In ha inf,