Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-06-21
tvol. xxxvIIT---No. Ia.


which, at the time, they could not con.
troll. and which in common with large
portion of our fellow citizens, they did
not toresoe, they are surely entitled to
tho indulgent consideration OF tho
General Assembly, and indulgence 10
them seems TO DO alike demanded by n
proper regard 10 the general welfare.
In addition 10 what have before brief
ly suggested, it should be remembered
that the crop of tobacco OF the pre-.
sent year, as ] am informed, is, TO a
largo extent, unsold, and the crop of
wheat will soon be matured. The
crop Of tobacco, owing 10 the decline
from former prices, and the limited de-
mand for ii, or rather the difficulties
which arc experienced in raising mo-
ney 10 purchase it, has come with
unusual slownoss TO market. Ii will
indeed he difficult for the planters
and farmers TO dispose Of their crops,
# tho banks shall be unable or be
prohibited from atlording facilities to
the purchasers in their negotiations.
Besides, the evils which would be felt
al home, by any obstacles in the way
of the sale Of these great staples, there
| would be large reduction from the
amount Of our foreign exports, which
Il is important to encourage, with a
view TO satisfy the heavy balance a.
gainst us, and the reduction Of which
can alone remove the demand for spe-
Gle.
Impressed with the soundness and
importance of these general views,
venture respectfully to recommend 10
the General Assembly, to relieve tho
banks from the penalties and disabili-
ties incurred by them, aud to autho.
rise, for limited period, the suspen-
sion OF specie payments. The mea-
sure is earnestly desired by lnrge
portion Of the community il will have
,, the effect Of re. establishing confidence,
and must scnsbly mitigate the severity
Of the times. The currency, if it can
be changed at all, and il be wise to at.
tempt il, can be changed with safety
only by slow and measured alterations.
Injustice, as well as great loss, must
attend any sudden and radical attempts
at alteration. AT the same time that
the banks are relieved from their dis.
abilities, and continued in the enjoy.
mont OF their corporate privileges,
great care should be taken TO guard
against abuses, and TO secure the re.
sumption OF specie payments at the car.
Hest possible period. The extension Of
their issues, us that would retard spe.
Gle payments, should be carefully a.
voided. The longer the suspension
continues, the greuter will be the DIFF
ficulty in recovering from it, and the
more we shall be in danger of per-
manenily disordered and progressively
depreciating currency. 1t is matter
of great moment 10 the public, and il is
important 10 the banks, If they would
preserve their credit with the commu.
nifty, TO guard against disordercd and
deprecated currency, and there is no
security against the mischief but by
n rigid lulfilment of their duties under
the laws by the payment Of specie.
| have endeavoured with breyity and
(rankness to communicate my views
on the present perplexing state ofpub-
lie and private affairs. They sre sub.
mitted with dinidcpce, and with tho
pfofoundest respect for the intelligence
and patriotism Of the General Assem-
bly,. We have but one object in view,
to cherish and defend the prosperity Of
our common country and now that
p. bar n,ogpar,tx- no. s,,lfnrad n 4r,r.,t1ry
gloom, let all minor divisions be for
gotten in hearty and united devotion
TO her true and permanent welfare.
This is season of the year when
it may be unsafe for many of you
to remain here longer than may be
absolutely required to mature acts
for the relief Of the banks. There
may be other reasons why the session
should not be prot.acted--no good can
arse from agitating the public mind by
proposing new plans of reform-evil
may There seems to be no settled
opinions ON many branches of the SUBJ
ject-Congress is about to meet.--lt
may be important 10 hear what they
have TO propose. Tho General Assem-.
bly, will re. assemble at the next annual
session, prepared 10 act with greater
deliberation, and time will have been
afforded to see in some measure the re-
suits of the present state of things. i
will therefore submit no other subject
for your consideration, and know Of
none which may not with proprety be
postponed.
DAVID CAMPBELL.
EXECUTIVE DEPARTMENT,
June 18th, 1887.
On the motion of Mr.. WILSON of
Botetourt, the Governors Communi-
cation was laid upon the table, and 500
copies ordered to be printed.
Mr. OAKLAND of Mecklenhurp said.