Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-12-14

,r.s ood and offered nj auction until there were
no purchasers In the year 1877, IN the county -
! which I've one hundred slaves were sou unus dr
cution besides other property, and besides saie
L daeds of trust and otherwise. And similar ehcot'
were experienced in other counties IN when wa IN
ouanted And here, SIR, tby way OF parch'icssl D.;
mention. that at that tnne Johi x. .h"ai's and
drnt Of the L. s. Henry Clay Secretary 81 Htar' ~ ,
Tho Great Rcruator regulating The currency
debts contracted BY this paper standard nl VAIN,
debtors must have time TO pay III paper. II
+, vicious and erroneous system when las w ="
his papcr money! il established hy law; anu ~
tI xnoc,ot;ou Of having in this medium, debts nave
hccu contracted Would it not he a crying nl"'t''
10 require or by measures now to DC ahoPieo' - -.
these debts 10 b. paid by spccia standard oi 'u
IN sell twn slaves TO pay the purchase money W .
~ sell three horses 10 nay debt which one would nave
sod for enough to paw Sir, We must give tune ~. 'e
honest debtors ret out 10 some extent At caS',
who have been engaged III gahul'h9 sl"cu"',"
do not .ypct to benefit 1t Is an irrcVncaOic ocvi'''
h, mon must at some time pay the price Of folly
I'm, 7 do not wish them 10 pay more than cah',"' ~
avoided; nor Ia compel them to pay the whoe pr ice q"
oncc II will BE- easier 10 pay II IN !ns'o'','" S
| know, Sir, that every man has 10 eau ms lc'N " y"
before he dies bu, do wish 10 eat all anne al once
nor do believe my constituents, can, or WISH % '''
| all theirs at once. 80
Sir, when we come to pass bill which 10 be per-
manrnt or rrpcctcd 10 be permanent ana WIN pro-
visions 10 take effect IN future, Will go as lar as any
Senator in providing such checks and curbs as sil,
fcctuay prevent the Banks from again affecting ir
State with irrcdccmabc paper say again. II mus coS
the people great deal 10 get rid OF ths excess I" Pa
money For the idea of an rredeeiaplc paper circnia
lion is not TO be endured for an instant II IS saa, ta
i however far off YOU pu; the day of settling up whch
il arrives men will be in better condition then iha
about this time 10 doit-hu think they VIII 70 9oo'
degree At all events, you will have gwen mem no.
fire and if they ro TO make contracts III asFc
r,rd of = declared state of things, which 10 come
they will have 10 ground which I" blame The lcEs
laon of the State. do not expect TO keep men out ."
extravaganza bv laws by attempting to appoint thrh
Guardians directly indirectly But we are bnnnu 10
do Justice rs well as not work injustice by our cgis!a-
ton and then to leave all to take OF
re- then Sir the objects of the bill, amended by the
committee of the Senate are right and polite as II re-
CARDS its bearing the interests of our constituents IN
general how will IT affect the interest OF me "Iale III
lis political capacity:
Il have before me now u statement of tho Second Au-
oitnr made this morning The whole amount OF s'ocK
in any way owned by the Commonwealth III tie Banks,
is 40 IA shares $itdl lhD OF th's the Slate m us
individual capacity, II may so cypress myself retains
i5 900 the residue belongs To the fund tor Internal
IMPROVEMENT and the Literary Fund See Auditor $
printed Report, p. Is, in motel The dividends on ihs
G4l 400 at per cent III January, VIII Dc az
If the Bill should pass II came from the House OF
Delegates there will be TO dividends declared, and this
S2l PAP must be made up BY some other means Gan
any one tell me where it is TO come from: Are we To
borrow money to pay the interest OF that already Dor
rowcd: Can it be procured at per cent? BY the
tuuv increased mot including also that authorized by
laws now in forccD is the Of S6,4lo,i6s The
greatest part of that bears interest at per cent paya-
bic half yearly But 81 ,232304 of that is owned by
the Literary Fund, &c, leaving outstanding S',2l2;-
900 The half yearly interest the S6,441, l6s, me-
vcr,hclcss must he paid Where the money TO come
from If no dividends declared on the Bank stock.
If We were wiling TO make up this deficiency by taxa
ton it would take year 10 collect the money.
II also appears by the annual reports OF the treasurer
nd nd ch are N pvp : hands,
the revenue for $50 will fall short about SuO0uU and
that too after estimating the dividends that part OF
the Bank stock which yet belongs 10 the State at - ",
900 of the available of the Treasury; and al
ter allowing in the proportion for the expected
dividends the Bank stock held by the Internal I'M
j provemcnl Fund and Literary Fund Is it not mani
fest that however indignant we may feel at the con-
duct Of the Banks, obliged to authorize con.
tinuancc of their operations and 10 take away the for
tclure and penalties: If so. ought the alteration Of
the Senator from Cupepcr to b. adopted: The eicc,
OF il would be compel resumption by III" Banks 50
. far as the Commonwealth had TO procure money 10 pay
the interest the public debt This would bc partial
can never support measures Of that KIND. If the IN
tcrest of the community does not require that the orr
ginal bill, amended by your committee, should pass
say at If il does, pass the law with provisions
which will apply 10 all alike. The practical effect Of
70 this proposed amendment would be- 10 make the pr
\. vate Stockholders pay half Of any premium
Hill Of exchange, which should be bough hv the Bank
for tie purpose of renting the money of foreign Gre
20 ditors Now s il :" Is too small mat
Ter TO occupy the Legislature Of great State. when il
h: is ruislang vital an interest the are
s. now considering Sir all that is now needed or dcs
" rable be done To put the machine again in motion
u and let it proceed in us accustomed manner, without
IN clogs which may unnecessarily impede It's operation
r. while considering Of and, SIR, dcbdt:ng about
what shall be- done II is not thought, it seems, that
a the which the Bank would have 10 pay
N count OF the proposed alteration will exceed OoO
extra One half being paid by the States half Of the
n stock, leaves 800 10 be paid by the other half This
" $1,000 having been paid By the Corporation of the
y Bank, will lessen the dividends the next year Just
il much But Sir, il is admitted by Senators, that
s. all the State will gain by this, will be $4,000 Dis
patch is all-lmportant III the passage of the bill. While
we have been debating, Jew Brokers have drawn from
the Banks great deal more than any sum YOU nav
gain by the alteration proposed. The Tobacco of my
constituents is coming TO market daily; and they have
- lost more III the price Of their Tobacco in week,
= account of the disorder of the money affairs of the
" market, caused 10y The present disabled state If the
Banks, than The whole amount of the gain to the Com.
- monwealth by this amendment possibly to
Sir, the law passed in lc-, directs the Banks 10 pay
any loss incurred bills drafts in renting the in
terest of the public debt and charge il to the Common
~ wealth i'll their accounts.
- 1t would BE- most to the interest of the people tina,
:, the bill should immediately pass and that next year
: this loss if any, in paying the interest of the public
: debt should be paid out of the revenue
- shall take leave 10 make few general reflections
before conclude Sir, as il appears to me- the task Of
: reforming the vtated paper currency of State is
. an arduous one. These who in truth willing that
should be done, and TO contribute their aid effect 50
desirable object should proceed with caution and de-
= liberation, but with decision and frmrcss Al! hmcri-
h ca now willing that energetic should BE- en-
!" poycd TO correct the mschics arising from redun
- dant paper currency But great should b. taken
- lest III their zeal for the public good, those who are
acting in this matter should push the practical opera.
ton OF correct principles to extremes, and thereby
" only disable themselves from any useful action on the
- subject, by tie odum and disrcpute which they might
> incur, bit do great injury TO the country.
: lis true, that should BE- so much afraid OF
;, doing wrong not TO do right Decision the great
cause of success in things. But is very DIFF
= crrn quality from rashncss One should be fully sen.
sble of the danger which about him. in order cretun
" TO guard against rnd j; off Ill must be aware. Ia