Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-12-05
prcscn,aves Finally Il contrary 10 all experience In.
dlydua should be found who having no in,cresi hcr

prcscnauves Finally, II contrary TO all experience, In
dviduas should bc found who having in,cres, of their
own 10 sharpen vigilance, should yet bring 10 the manage
ment OF such crgorsuon The requisite attention, skill
and integrity, may then be prudent enquire whether
general state Of indebtedness the part OF the governed
to the government he itee from the dangers here
that have attended II csevherc! n i, he bes,in., in.
clent 10 pnLic debit the creditor has direct pecunary
interest IN the maintenance OF the Governments does not
e converse oil he proposition follow, that when the Co
NefhIent - the creditor the debtor has direct pecuna
ry in,res inducing the destruction of the Government?
Why are the public Lands sold for as rather than on
evu" The txreil'ace acquired at Public Treasury
upon this is entitled 10 consideration The head of tina,
department, has not always .oun il am easy ser TO re-
dacc ino possession the few debts which hare various
times been due to The State iron, her cizens. Success
has rarely attended his Efforts in such cases and
when successful, Il has been after longer intervals than
odnsii'y ehataciet2c the transactions OF Individuals
Would it lie otherwise il the debts really due TO the ate
uomiialy due 10 q Bank?
The great enor app,chcnd which prevail. on this sub.
icc', Is that we are disposed establish Bank rather y
an eHpecicnt reie'e US IRON TAXATION, than with view
TO the great Office, 10 be attained by such an institution
sound circulating uicdiun In the management OF pub
lie a. OF private aiirs sometimes temple, 10 ne
glect that system policy which find, appropriate rc
ward in patient industry, and hope prosperity by
some scheme OF speculation winch is the most aluliny
when the least understood We forge, that the pbl;c
Treasury must at last be ropenishc from the pockets Of
the community; and that The Indirect is frequently the
most unequal and oppressive species of contribution Bank
stock IL certainly legitimate sbjcct of revenue: but
the stakeholder should pay Tor tho privileges confer.
red upon him. just so much he receives over fair
rate per cent OH his investment in the ordinary cou,ss
OF dealing, and 40 more. greater exac;ion has ten
dcncy either TO Impede the operations OF the Bank or uye
rise 10 the opposite evil excessive issues In the former
scarcity OF circulating medium produced in the
latter, the community Tor the deprecated curren
pay indirect tax, greatly larger amount than tho
actual revenue flowing into the Treasury Ii imposs
be TO ascertain with precision the losses sustain
cd. since the establishment, of tile existing Rants h L.
depreciation OF their notes think however tina, an a,
tenuve examination will satisfy every one, that mus
coed the entire revenues which has been derived from
all these institutions.
al venture, therefore, 10 the or
Banks at such places the business OF the country
require. the aggregate amount of capital TO exceed
three millions Of dollars, the direction to be confeJ
the individual stockholders. The dividends never n,
exceed such rate per cent as may be regarded fair
equivalent Tor the use and hazard Of the investment The
average amount of public monies deposit TO be consi
dered capital stock and the Public Treasurer to be en-
titled to dividends accordingly"
lie recommends revision Of the state laws of tho
State, the Oldest one in force having be en- passed
in the year 1885, under the reign of Henry the third
and the revised code extending further back thar
No. emitting the entire legislation of the mother country
with regard TO the State during period of four hundred
and ninety years, and embracing more Than hundred
statutes or parts oil statutes many OF which relate TO the
criminal law OF the country, feones and punish
capay and yet it is believed that complete copies of the
enactmcn,s arc not TO be found in half dozen libraries in
the state The consequence, he says, that their
law is as undiscoverable the sources of the Nile
On the subject OF he saws "there il rroI H.
no tax which be devised less equal in its opera,ion
than poll tax, and none than an income tax
10 their system more than third of their entire revenue
is derived from the former, while supplies are drawn
from the latter source Real contributes to the sun
port oil the government an amount nearly equal to the po
other species OF propertv and none NO. -; p" eNey
In no,icinr ,e respln,;,ns n pon 'hohieu capital
other State he saws tkat tbose If Msin sSues oil
New Jersey Delaware Me- Vari, Nj " us
Illinois CONNECTICUT MARYLAND al NPP' inuts,'a'
have approved of the Presidents Proclamation.
the balance in the Treasury on The 10, Of qua
was 81 g24 73, and The recents ipto H. Sran, ~'
that time TO the 81 October S33 he;no n, -
fiscal year, amounted TO SlSS $40 OF maL;n ,o,, e
SI96 IA TO- The Disbursements dutinr ,La s. $500 80
have been 81 3S s67 46 eaving baincs i; as ne pe'ou
on the first instant of S57 sly 81 or tho on,o, IS M
b,,semen,s 600 200 80 vi we amount oil as
OF the Literary Fund there was baiances m &c P y,
October, 1882 of SIS $50 So and the receo,s dur;n h
year, amounted 10 S2S 43S 40 making an ororaIs, =,
during the year or the Internal Improvement nd
a balance OF the first of the fiscal year IF nsie az
pok;ng an 49,, ., ~, ., "a u'ou'eu 10 Si'4oS OIL
during the wear have amounted IN Ell 900 90
balance on the first instant of @o76 OS -Ron D.
|
The DEPosITEs 1t has be asserted by one politica
Party That the removal of the Public Deposits from the
United States Bank has made plenty and bv the
other party that has made money scarce and nat tho
best relief from the present pressure to be fnd in o
storing the deposits 10 their position But we do
not see how tie removing OF the deposites should
make money either more plenty scarce Whether
million oil dollars is in Bank or another in Wall
street, cannot make less money in the
The money may be drawn from one Bank and depositeJ
IN another never oent is neither more nor less af
Ter all man The same million of dollars Other measures
connected WIN The removal OF the deposits may have had
bearing on The condition OF the money market If the
government oil The u s. Bank has by by measure
iTrated into an unnecessary withdrawal of the funds OF
hat institution from the use OF the community, has Ia
ken occasion TO do in the hope of producing from The
general distress reaction of public sentiment i'm s fa