Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-12-06

nrincpIes and entcrprising spirit Of her people, and
above all the friendly associations hitherto subssng
between us, render in every respect desirable.
LETTER, huff pricute-ha!f public in rs character
The writer of the following Communication appeals
10 US for its publication lie leaves no discretion
about the first part Of it, and indeed, several parts oil
it. which are ia! TOO complimentary in themselves, and
place MS in position which we have not vanity enough
to claim. We publish them, therefore, with respect
ful protest against the into which the too great
kindness and too favorable feelings OF their author
have betrayed him. The compliment is far too eXtrava:
rant in its character-and without any aiiectaon oil
modesty, we must dsclam its application. There is no
danger that the alternative to which he alludes can IN
any event take place. The other parts of the communi-
cation are egi,imatey public property. They touch
upon "high maters, (as Mr.. Burke would call them)
in which the interests of this Old Commonwealth are
deeply concerned. With the writer we go at once Tor
an increase of the public taxes, sufficient TO supply the
necessary funds the Treasury, and supporthe Gre
dit ofthe State If we have 10 make new loan land The
Acting Governor says in his Message that VIII be dIh
cult to dispense with loan short oil 0,0O0) how can
we obtain it, on the best terms, without laying solid
and satisfactory basis for the payment of it's interest:
The Banks may not be able TO lend the money them
selves as MIR. Gregory suggests-bu they may be-
come, correspondent proposes The agents Tor
making it in other ways.-We approach Stay law
also with much doubt and apprehension In some
tons of the State the People are suffering under their
embarrassmcnts. We have q fellow feeling, and we
deeply sympathize with them-bu is a stay law the
ADEQUATE remedy Passing other views OF the mat
ter. how can the merchants of our towns discharge
their Indebtedness the Banks or to the Northern mer
chants unless the merchants and farmers OF the coun
try comply with their obligations' How then can
the Banks redeem their notes make any DISCOUNTS
unless the cnrtas of their customers are pad Or,
how can our merchants pay the Northern merchants,
who will reach them through the Federal courts, when
the funds Of our merchants are locked up by Stay
law;
DECEMBER LIST, 1872.
TO THE EDITOR OF TIE ENQUIRER.
enclose you ten dollar Virginia Bank note, which
you will place to credit of my account for subscription
TO your paper. 1t will, think pay the present year
and one year in advance Be this as it may, my object
is TO do Justice at least TO my subscription. intend
no attery when soy that the Democratic party can
not hope ever to have organ faithful and so et-
fcent in support Of the great principles oil human IT.
berty of the Constitution of our common country
Then surely no subscriber will, for moment longer,
withhold the patry debt, at the risk Of leaving the
publication of i paper so important to be arrested by
embarrassment-which could not he felt, If even ar
rears are paid up. Whilst have my pen in my hand,
must add something the action Of the present Lee
gislature some of the important subjects 10 come
before it.
1t is an important crisis in the affairs of the com.
wealth. and we, the people, looking with great
anxiety TO the results Of that action The frs! and
overshadowing subject, calling for immediate console
ration is some substantial and permanent arrangement
wealth in debt and the only reliance TO pay even the
interest punc,ually, is temporary loan from the
Banks. Now, these Banks must sustain their present
position specie paying banks, whether the common
wealth individuals can MAINTAIN payments without
their assistance or not They owe II to their stock
holders they owe it their noteholders aud they
it os proper obedience to sound and wholesome laws
The Banks cannot continue 10 exhaust their specie III
making advances TO the State, without at the same
time Frustrating the markets Of the State, and thereby
~ z,,Lt tt,an ,nuId ho
pensaed by many times the amount of these Temporal
nv loans Besides, when is known that the payment
OF the interest Of the public debt depends on the un
certainty Of bank discount loan, the public creditor
views the State the eve OF PRACTICAL reputation,
and the necessary consequence IS decline OF the
price of State bonds and indsposon to lend on any
terms II is not consistent with the dignity oil the good
Old Dominion to sit in judgment on the Banks IN order
to bring them TO specie payments and TO compel them
to furnish sound currency and at the same time 10 be
applicants FOR loans Of temporary nature, at every
bank in the State to the State itself from protest
and The Treasury from bankruptcy. presume our
Legislators wise enough, without any suggestions oil
NINE TO devise scheme in DETAIL TO feet the import
ant object alluded to; but viii venture TO say, that
for the amount of the actual accumulated deficiency,
permanent instead of temporary loan ought 10 be
provided for the first business of the session. If this
attempted proper principles, there can De but
little doubt Of lis success. am informed that the
actual deficiency is about $3.50 000for the interest on
TINS ana the gtauu1l VI
pledge Of certain and specific income OF $4,000 per
from taxation any other reliable source, would
be an pile provision Such loan could be nego,iaed
on the hes, through the depose hanas, and with
the aid of these bonds these banks could in good time
be enabled 10 make the necessary arrangements 10 meet
the warts end sustain the crodt Of the Common
and at the time give considerable relief 10 the
present embarrassment Of trade IN every
quarter
believe but few doubt that one OF tie leading
causes of the prevailing difficulties throughout the
Union, the failure OF the State and General Govern
ment provide adequate and certain revenue to meet
all just demands against them Practical reputation IN
the Government, Gemoralzes the ctizen-and under
such circumstances confidence is lost, and credit is
blasted and country blessed with all the essentials OF
greatness and happiness, is like to be PROSTATE and
miserable, to dwinde in all its interests, and TO remain
dscredited at home and abroad. You, Sir, haze often
heretofore been successful leader, in asserting the
principles Of ;e Constitution The people look 10 you
now in this important crisis to take the lead in urging
pom legislature, place Virginia on high ground
and TO make an example her sister States for prompt
ness and puactuay the discharge Of all her obliga
tions. apPrehend that besides the tax necessary &c
secure the loan above entioned, rery moderate in
sc ,ana,,l will he necesaaru make the