Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-12-20

We had in the House OF Delegates, Saturday. a
sample OF financial statssmanship, which may sue
eessiulIy challenge comparison with any Of modern
days We refer TO MIR. Ho.leuan's substitute in IN,
way oi Ryder, for the bill authorizing Temporary
lean on behalf ofihe Commonwealth. See tppa, =
the Legislative head.
Justly To appreciate the propo,ei wisdom Of thu,
proposition, We must advert 10 sCme OF the ci,cum-
s,arecs under which il was suggested. Tn. Cha,
man oil the Commute of Finance had stated ,b.t
there were only $4,000 available in The Trea-
'ury At this time. That the 5. Of January 81 so
"oo would % required to pay the interes, on the
public debt then falling due In this cxi,enry. To
preserve the public faith, he proposed n Temporary
loan of Si5o,ooo TO supply the d, 6cieney.
The lofty spirit Of Mr.. Hollcman reyol,d n, H..
degrading spectacle OF a great Comnonv.,,,h h,,
rowing the means TO redeem its faith. n. ,,, ~.
wi'sto work TO extica,e her from the mo,,ir,i,,
pred''amen'-and being, Gas Mr.. Dsnoon s,iJ a
Mr.. Stevenson.) "a man OF prcd;g;ous rasourc,
when hard'usked"-his success was comn,n,r.,
with ms genius and the laudability of his on,.rr,
tie Submitted his proposition, which will s,sri M
test of scrutiny and of time. and which will crd,,.
upon the political records fo.evcr, a, an uoo,,,,b,
bic feat Of profound siste,man,hip. The I.,d,,
arguments by which the proposition was su.,,;,.,
were worthy OF u:-A commonwealth .A,,i
any more than an individual, borrow 10 nav
""en can co 50 ny any other means. Thi, was
the 'mprcsnab'e position assumed. Ia vain did M,
nara common sense OF CrGtclfsid nssail it, md
maintain that II rested upon sandy found ,,on-bv
demonstrating that was not true Of an individual
ahc oy consequence was not true OF a Comnon
"ea''h-trat he should sacrifice property worth Two
hundred dollars, yielding I2 p.r cent. in,-rss, ,o
pay a debt OF hundred, when he could borrow \,
. per cent. In vain did the luminous Iosic or IA,
man, rourtrhy the ruinous effects of The Conn
monweaIth forcing its stock into market. In x,;,
do the keen dissectins knit. Of Scot Law b,r. ,Lo
crudit'es and absurdItes OF the whole prn.c, II
vain 90 Jackson affirm, OF his knowlecIs. that
me wheeling notes. which it was proposed 10 dis.
pose OF at discount OF $ per cent wee as cood "a
the notes OF the Richmond Banks There stood NJ.
hnleman's axiom, drawn from Political Econor,.
unscathed and uns>arhea ble-backed. loo bv anna.
answersble argument from Mr.. Holl,dav tina, :,
was more economical TO sell the Wb.oI;n.
depreciation OF 10 or Is per cent, than 10 bor,o
money al per cent. We think he estimated the
dhfrenee IN favour Of the former plan at per cen,
III 'i'"se VI i'e'eSates Gy tte manner in o. hirb
they treated this Use proposition, furnished ono,L.
practical II!us;ra ton Of the truth Of wha, Cbonca
I"r oxsnS,iern said respecting the wisdom which
governs the world. They turned deaf car n IL.
sage saws Of Mr Hoeman and tn, omnpo,,n, ro,ic
Of Mr. Holiday. They refused Inv vote Of an n
aO) to direct sale of bank stock a, about sen tho
hundred and At SIS less than other p.onle could 90,
Tor ';-and they booted at the economy. wpeh mo.
posed TO sell at a discount of Is per cert no,..
which might be disposed of at par! We scarcely
Know what TO ssy in eItenuation ofsucb e,resions
i"iy on the pa IT of the assembled wisdom oc m.
Commonwealth! That Mr. Holemnn and Mr. Hal.
nday IRE highly indignant, and that they look with
greater contempt than ever upon the supd,v Of
mankind, Is altogether probable, and CONSIDERING
The provocnt;on, altogether justiiable. Bn, we
would intereede with them. We would en,r.a,
hem TO forbesr their wrath. They can afford IN
be msgnnnimous. Those who could not appreci
'te their wisdom wore a. leas, governed by hone;t
motives permit, therefore, their honesty to ex,en,
ATE their folly. They will reap a suficien, glory
in being the fathers and advocates of the wsest IN.
best, matured and most comprehensive financial pro
Jet Of the day