Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-05-10
From the United States Garetfe.
THE REyENITE RUJ

We hear some people cry out that il is an infa
nous o1-we certainly cannot any thing in its
provisions that deserves uncourteous an epitb,t
Others, who dislike it, call an "eriraordinaru b,
1T - certainly an extraordinary bill, but we have
fallen on extraordinary times, and must pect SOM.
I"eIraordinary" legislation.
The hill provides for three millions OF income 10
the commonwealth, which sum was and is absolute.
ly necessary TO the preservation Of her credit and
the carrying on Of the government. Two millions
ars required for the debt, and one million for CT.
penses. Now no one be blind TO the effect upon
existing stock, and TO the immense loss that must
he sustained by The state upon that to be created
mad the commonwealth come into the ma rket with
the proposition for loan OF three millions of dollars
II would have been ruInous all round. The plan
proposed, then, will, it is confidently believed meet
the eIgencics OF the state, without depreciating ex
sting stock; on the contrary, il fully and promptlv
carried out, II will add TO the credit Of the state while
II supplies her wants.
Those who called for tax will find that one mil.
lion five hundred thousand dollars are to be raised
by taxation. This will fall rather heavily on this
neighborhood but we get used to such things and
therefore cease 10 complain.
The leading features Of the Revenue Bill, which
becomes law in spite Of the Governors veto by the
late, but constitutional action of the House of Reore
sentatives on Wednesday, have been laid before our
readers in an abstract published some DAYS since
We believe no essential alteration il any, was made
in the bill after that tine. When, however we pro.
cure an authentic copy, we shall lay IL before our
readers. We notice IN one or two Of the Loco 70.
CO papers OF this state loud denuncatons of those
members Of the party who finally voted in the ma
jority, and helped TO make up the "two thirds.p
This IS family quarrel, and il does not become u,
| To NEEDLE therein; but can we'll imagine that
the gentlemen alluded TO, seeing the position ofdis
grace into which the cid commonwealth was ney.
itably falling, ielt that sacrifice such as they have
! made was not too much for men Who in the as
sumption Of office, seem 10 have pledged themse yes
TO regard the public good as superior 10 their own
The measure may indeed deserve the name Of
| "temporisins" which has been applied 10 il; but
there positions into which the body polite no
less than the body physical, may be placed, which
| call for the application OF temporising expedtnts
until time shall be allowed foe the operation of per
manent remedies.
IL has hitherto been a matter OF complaint that
the revenue Of the state appropriated specific pur-
poses particularly the interest Of the public debt
has been thrown into the public treasury and PAID
out Tor ordinary or extraordinary expenditures
without regard to the provisions of the statute; and
when the interest was due, the money had TO be
! raised as 1t could. By the amendment proposed
by MIR. Senator Reed, II is made a punishable Of
fence in the treasurer TO allow Of any diversion Of
such funds from their proper specific purposes
THIS IS well and will be felt in the strengthened
credit Of the state No new expenditure is to be
aliowed-no new contract made-no channel left
open to draw III the public funds.
IL - SAID that several Of the banks will not accent
the provisions OF the law. or course the banks will
consult their own interests; we are bound TO say
that they have done enough for the common ealth;
but II some OF the banks should not feel called on
TO accept the provisions Of the law, the operation
will be more favorable on those whi:h do Their
issues Of small notes may DO proPortonateIy eniarg-
ed, and the advantages probably proporIionalely
increased.
The bill, too, gives repose 10 the banks, which
they certainly need which they have long neeied,
and which, we hope, will result to their advantage
bu, especially to that Of the public through them.