Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-04-29

transfer a plantation and negroe, from the owner e
the puseheser IN 10 days, and when the times are
hard the note shaving purchaser gets at half price
and the creditor gets half Of his debt and the debtor
has to 20 to work hard ior years, half starving hi
wife and children to pay the balance, or he takes
the benefit OF the Bankrupt act. that vastly odiou'
Wing measure as Is said-transieiring every thins
but his wife and some six young children. and goe;
TO work at so to buy another plantation 10 be PAD
for perhaps ut co. or to be left encountered with
another deed Of trust the inheritance oil ms chi'
dren, who are TO quit forthwith on the demise oil
Their parent and get some log cabin Tor their wiuoN
ed mother who rellnquished her dover IN executing
the deed of trust. Ave, ave, the lawyers under
stand that as we'll as the lender of money or the
seller OF plantations, in Isle OF Wight and orange
/ amegine, as we'll as elsewhere.
MIR Speaker as said at the beginning ieel en- :
barrassed Us to what should do. do not believe
| a permanent resumption of specie payments VIII
occur SIR for in this country, where there are
tweaty.sx different States-each with God knows
how many Banks, each Bank with God knows now
many directors, each State governed by ut least one
hundred legslators-divided into parties and ns
here the parties differing among themselves IN re
ference 10 this natter and each directory, and most
likely each member of each directory, governed by
different views-all disposed however TO make mo-
noy, and great many having very inadequate IN i.
tetest in the Banks, because among other reasons
iorsooth, to require them to have sufficient IN
terest guarantee the security Of the Bank would
be aristocrntici When, too, tits thought sometimes
very unreasonable Tor even the owners Of the Banks
to look at all into their concerns, and one opn-
ion seems 'omewherc to prevail that atthe meeunSs
o. the stockholders they should merely receive
! such reports as the President and Directors choose
| to make; and elect rc-e.ec, officers. DO not
know sir confess. what exactly 10 co, as REGARDS
this question. There is another however, about
which do know something: know It - not pru-
dent to huy stock N Bank 50 affiliated with the
/ James River and knnsvha Improvement that hall
n million of its assets are as good as gone; and
which with ITS compeer Is still so welded 10 inatua'
ton that this year II has completed loan TO ;hat
concern of 500. 900 or thereabous, which they ars
now through this powerful company asking the
Legislature TO make all the people pay by forced
subscription. | know thing or two. | and my
constituents have hecn bit, ard II has not been by
merchants thnt We have lost theSr large sums. Our
Committee would exclude all this class beyond n
certain proportion. | would rot. Banks are conf
mercial instruments; depend npon 1t. more has been
a;elv lost here by lands and mines than by mer-
chsndizei
MIR Speaker. said I d d not know precisely vha,
give here and really the que stion is inhniie y
more important to the COMPLIMENTS Of other gentle
m-r than 10 mine. The gentlemen from Richmond,
and from Lynchburs and from Petersburg are much
more concerned, they n''v res assured. than am.
Sir, though ve make rnneh talk about tobacco
croJ and wheat CROP; the corn and cotton and um-
bcr make far less show m the statements Of mos; OF
the Bank officers than the uncert-ln p-ouise OF the
crops they so much rely upon, yet we who dealtn
those things are not 50 hamperet, depend upon It,
ms some o,hers: rot so indebted to the Banks. nor
w Il find il so dficultto pay. To he sure il will be
lneonveniert this pressure. come VIXEN 1t may. nnd
the greater the pressure, the more hastily applied,
the greater the Inconvenience. But, SIR, we can
stand ii | reckon, as wei as they.
Sir, deem that this effort At reSuul pion is pre-
mature-I deem 1t piena urc believe that such a
feeling actuates many who would break down the
Blinking system, and such the shocked feeling OF
many, cue to repeated suspensions, that the Banks
will lie unable TO sustain their specie payments.
was glad 10 hear the sentlemln from Isle OF Wight
in discussing the Sco,tsvie Bank Bill intimate that
while he liked the provision which required landed
security for the stock Of the Bank say, that the
evil complained OF by him was not that the Bank
was not secure and consequently needed little such
guarantee of its solvency,) bu, that It was the ina
billty or rather the failure TO redeem in specie
demand, that was the evil to be avoided. was glad
To hear this, for though the gentleman thus express
ed himself, others, many others dstrusl this
score. But, believe that another distrust is vet
greater-a disirust not 10 be easily overcome. IL
will be believed that the banks cannot continue to
pay specie, and this will bring not only foreigners
but those OF home on the Banks for redemption OF
their notes.
Blu, SIR, the public mind is excited on tie subject
and will have another experiment; and the friends
OF the banks have, too placed great reliance the
argument that the banks of other States were sus-
pended and therefore twould be improper 10 resume
and feel that it will perhaps be unwise 10 oppose
popular impression, cannot countervhh. | think
il perhaps prudent TO let those who have so much
contributed to bring about this state of things have
their own way in getting out Oft, and If they
can relieve the people With their steam doctor nos
trums. As Wing measure, believe IL would be
as well: and apart from politics, and a mere
practical question, believe il would perhaps be as
well. Not that dread any mob, not | sir Ifsuch
thing could occur in Virginia, 1t would rather re.
suit, think. from the action proposed by the gen.
tleman FROM Isle of Wight than from that other,
! should deem more ludicious. Bat after a few
more experiments think we shall be more sober
will read a story sir:
There is an Eastern story, which gives an account
feet as 10 be indesrucuOe by any human agency.
IL was, consequently, greatly esteemed and held at
a price Of infinite value.
cat 'ength il became the property of wealthy
merchant; who, on dying tequeaihed i 10 his only
son, as his principal patrmony.
"For a time the young merchant considered him
self the wealthiest man IN Basdad. He could at
any moment have disposed Of his valuable Jewel
at the nearest BsZaar for sum sufficient 10 have
bought up a whole street of common merchants
with all their perchan disc together with innumera
ble caravans from the Indians with tie silks
specs, and other goods. md the Great Cniiph him
self, II was supposed, would have shared his throne
with any one for the possession OF It. But at length
the young merchant became discontinued with his
treasure. After ALL said he to himself il this stone
should not be what the opinion Of the world has so
long held II to bel What, Il instead OF being indie
structible, il is said 10 be, lis susceptible Of be-
ing crushed by single blow OF the hammer 10.
stead Of bengproof against the influence Of the
intense heat, what If the FIRE might backen and de
face IL!
Thus ,ormeniod with suspicious which had new.
or entered the brels; Of any previous proprietor Of
the rare gem, us possession, instead ofh satisfaction
a pride, and an honor, become to the young mer.
chant only source ofdisquiej, Of care and anxiety
| He was continually haunted with an overwee mir .
desire 10 try experiments upon it. Suppose says
he, | were TO place il under The hammer, and prove
whether no Il be capable OF resisting the efforts
/ Of mechanical force, Or were 70 place II in the
| furnace for few days, end sec whether or no Il
can withstand the influence Of intense heat.
"In this state Of mind he consulted with an Old
Dervise, who had been friend and counsellor OF
hisl father "Be satisfied, my son, said he, with
your treasure. Do not all men believe It 10 be per.
feet Is not its value in the market now as great
as possibly can be, after It shall have resisted oil
your experiments BE not the first 10 throw sus-
pIcon on your own forune-ihe gift OF the proph-
e."
"But the young man listened not TO the advice Of
tho old Deryise lie subjected his gem to the test
Of fire and the hammer. For a while Il resisted ]
the efforts to deiace iniurJ u; and seemed
deserve folly the reputation II had long borne.
But the more the precious gem resisted his efforts
10 destroy II, and the more il seemed 10 approach
its reputed perfection the more was the inhibition Of
the silly merchant excited to try new experiments
on u. lie went 10 WORK and built a very expensive
machinery, with new combinations Of mechanical
powers, for the purpose Of sublecting II to more
trying tests All being ready, the precious gem
was placed in a position 70 be most easily effected
by the accumulated force Of the machinery, and the
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