Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-02-16
RICH ID:
mocNIXo. rsanu'Y no

/
Locorcess AT Is;vE-la7,riIai esrTsspOassses.
The letters 81 ~. n c,kealTopgh, psesiient Of
the Bank Of Virginia. in reply to the in,errosa,o
res Of his Loeoioeo f,ends in the Legislature, are
highly important, ia whatever aspect REGARDED
They eontain ,sws respecting the currency, direct.
iy opposed to hose, which have been advanced and
are now acted upon by the party OF which he is
the rep1,ed leader in the State. They substantial.
!y most strongly rebuke the presumn,uous isuo-
rance Of those who in spiri, OF Demagog uisn, arc
seeking to subveu The most important interests of
the commonwealth; and they complair, with much
feeling, of the harsh treatment TO the officers Of the
Banks by these pert Intermediates about matters Vi
which they know little or nothing.
Whilst wo accord credit to the President Of The
Bank Tor his manly independence and Jus, rebuke-
lis no, to be denied. tina, ho has contributed as
much as any o.her man in the commonwealth, If
not more, to bring about the sac Of things Of
which he so bitterly complains. But for his own
agency, the evil times upon which he has fallen
had never overiaken hini-but Tor h., powerful aid
to 'he miiehieveus principles and still more misehie.
vons men, by whom he is now teset, and whom
h Is combating with tie spi,ii Of an old Roman.
he had nere been subj cted TO the mor,ir, mo an
n'yanees to which he is now exposed. We say nj,
powerful a'd-lor it is notorious that hc has 70,
twenty aes been in The Bark Of Virsinis-and,h thu,
tho Bank Of Virginia has been the fruitful parent
The feeder aud m'n;ainer OF the vicious brood Of Do
h''eH pemasosuss, who now thseaten him. his in
stut'on, and the Interests Of the State with ruin.
iher conduct may b. truly characterized ms the
o'seke.i irsTaii,dde- bu, if he had no, warmed
them into being, and cherished them. they had
never existed 10 disturb the paace Of his declining
years, aud make war upon tho w sliare o! the com.
r,onSo,.ih.
bn' we pass over this, and come TO the letters.
we repeat that their contents are important, and
considering the source whence they come, will have
n'Geh consequence attached TO them We comics,
some OF The views Hre such as we were not prcp,r
eI 10 expect from member OF that political party.
Ihey are truths they are n, war with nil Tho
d'ct''nes held by the Lo.oroco p,rty. Bu, The
boe'o' IS one of the very few Of that p,,tv. who
have the moral nerve 20 review old cpin;on. md
VIXEN Convinced Of error, TO avow new opj wiser
conclusions.
lie arp oscAed he delicate subject which w,,
forced up'n his consideration professsdly with ,,es,
t'ih!cnee, and treats II very tendery-so much 60
an iaci, as not 10 give satisfaction to his ca,ecb,es
and they repeated their in'eurogstories. To our
mind, however, he was sufficiently explicit, both
Ia has hcsi Sni his las; e,t.r-and probably il was
the unsavoury character CT his information, which
oo'uscaied the in,ecets Of his Locofoco oueris,s
and ;hey could not understand him, because thew
would not. Ii we understand the Doctor. and we
think there IS no ground for doubt or dispu,e he
substantially and strongly asserts, that our Bank,
CANNOT resume and maintain specie payments with
out Tariff. $50 long The says) as VIC buy more
in value abroad than We sell, We cannot maintain
specie payments with i circulation of or } dollars
IN paper for one Of coin, when Massachusetts.
from her economical habits and wel-directed adus
try, can keep up circulation Of paper with FER.
feet safety OF for one, simply because she sells
more than she buys, and her people n,e .a,isaed
with their paper currency for domestic purpos.sn
Again, IN his second Letter, he repeats: "The
position take is this that until there is something
approaching equality in va,u. between the exports
and the Imports OF the State, especially in time
Of disifusi, there be no security Tor the main
ten'nce OF specie payments"
lLese views are not only strong arguments in
avor OF iaEii-by which alone the balance of trade
can be brough, in favour of this coun,ry-but they
establish the farther posiion-at which the Demo.
,racy will be siariled-,ha, i national bank is bene
fetal, not necessary to the South, at eas, % lone
- We buy more from the North than we sell there
which VIII Ge the case, willis. our cred, lasts.
The letters Of The other officers of the Banks will
be published to'morrow-as they all relate to the
most interesting topic OF the day, and contain the
views of gentlemen, who are conversant with the
subjects of which they treat.