Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-12-02

sfanger aad for the favorahle estimate which fIey
are pleased TO make of ny poor services 10 the
State, sssas.s
We live in period distinguished by romarkable
characteristics. few years since, our country, in
each Of ia great ard Diversified interests, pros-
porous and pros9ering and all Of them. in perfect
harmony. we're promoting aud extending one anoh-
or We possessed u currency readily convertible
into specie. and sn5sefving all ITS purposes In every
quarter OF our widely spread Union. But this hap
ry condition OF the people did not accord with the
taste oi aspiring demagogues aud Political leaders,
AMI the most reckless aud nnlifing exertiens have
been successfully made 10 change that whole scene
ol bright and almost unbroken nalo nal prosperity
The change, and It's consequences. are before us and
upon rs. The poor have been excited against Tho
rich in classes, while the members Of each. from Tho
very nature Of our Institutions constantly chang
Ing their positions. The metcnntlle aud the aeri-
cultural interests have hefn. Ia The most nrlful man
ner afrayod against each ollier add both eof them
against our lDlmt manufactures. wllllo our pss,ex-
pricnee abuudanlly ulRialesis thai whaayer pro-
metcs lmpairs lhn prosperity ofone, eeis ais ost
equally. that OF The others. Recently The xieaerd-
nary efforts lave been txelind perhaps With fatal
success, In induce general bostliiy 10 banking
institutions. Against lhese tbc laelndiccs of the
people hive bceu exciled by designing politicians
that II | consulted only the interests Of the Wing
party, rs aparty, would. during The brief space
which have prescribed iur my eopGtciien with
public ataus, leave them, miihoutan tflpi 10 ihrr
support, 10 The disposition OF Their egemies. Mo-
!
people To heu teal INTERESTS OF 70 The principles and
peIicy oftheittrue ftieuds No seline could be
devised which would mnre surely and fap,dly
= make the rich richer, and the roor poorer
From teeeut statement Of the pubic debts Of tho
several States of the Uuine, il hppr lat their To-
lal amount exceeds one hundred aud seventy mil
lions of dollars - fr N statements belure the
last Legislature, the cut.tlaUdug debts due 10
tie several Bnnks Of Tie Siate cSeerded sixteen
millions Of dollars. il las protdly ueroased
with their increased capital, aud may now he
twenty millions. Can any rational mlnd uniu-
llnenced by the bias OF deap prejudice or strong
interest, tolela'e, iur moment. lie dea Of
tablishng an exclusive specie or bad money cur
rcncy among people whose public and baah debts,
say nothing of private ones, extend 10 such sums
Destroy The Bnuts, ~ Impose on lie stogtholders
burdens aud restrictions which viii destroy lieu pio-
s, aud thus loree HEN 10 Wind up tilfu 3als, and
state Of lhlngs would cusue more dis.n sang aud
appalling than Gin be described ot conserved. No
class IN Virginia would suuot much as the ac,,-
cultural because ther wealth Consists in PROPERTY
and large portion OF them are, to some extent in
debtCd. Our mercantile capital is aeknoe dyed by
all pn'ies 10 be deiccnl--our farmers and manners
not nny require advances on Their produce, hot
thry dema competition in the markets Tor the
purchase OF thctr large and valuable staples The
hanLs furnish the means by wltth nolauly onfnlrt-
chants Of limited cafl, bai escn slfngcrs aud fof-
eenets enter uto HAT competition. TEey maize
Temporary loans 10 the oar. who Nonld othefwhc
be uuable-and they purchase bills from the other.
Whp would sci Ion transport ttetfs eDrtie ilum
distance without a cetlaiBy ofbrns ALE 10 use il
adwntaeeously But tiese ron atls have ALREADY
exceeded hellmla Which | had pft.ettef The
immediate npouanee Of the Hbjcci II fAttn WILL
hope, induce you 10 excuse tleir ltneth.
Allow toadd, Hat Whe would sastain our
Banks, am 30 advocate for no-fitdttna}l Ianer
curcncyi md have long been oi opinion that
without somr nauoua Institution 10 fatrtale eS-
changes, and TO keep s1lpfay restlan on the ,sne
and circulation Of the local banks, will he npossi-
bio 10 render them steady and Constant pecie paving
institutions. II, On fbfher uia, tbs opinion shall
be confirmed. rs fit yeala or p1st experience
strongly confirm i, aud If 1ss whose rover and
province il is to decide The CUES lpn OF a Ma
lionaI Bank. shall, with al the consequences
before tieni, decide against such in institution, is
will doubtless be proper and necessary, whatever 10
d,ydual distress or ruin may cHsuc, lufenuunco the
banking sys en- aiogethcf
anuex a toast, which viii lhiul, yonr to ol'Jr as
mine aud pray Sou to tender 10 The company, and
accept io1 youfsttyes. assuraoces Of my high re-
spect. Yours, faithfully,
IF, NAY.
The Wigs and Co seivaiivrs OF New York
Let ns follow their nobe example aud without
regard past d fiefences, or political theories
aud distractions, len us corda ~ aud zedlously CO.
orrfare in rcmedyiug practical grievances and
Nominations.