Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-06-08
RICHMOND WING.
"WEDNESDAY MORNING. JUNE

We transfer with great pleasure the following ar
tcles from the Richmond Enquirer. Not shade
of suspicion should ever be suffered for a moment
to rest on the St,te credit, and the more psrticu
larly now. when some States have, on the shallow
est pretences, repudia'ed their debts. The credit of
Virginia is as good that Of any other State in the
Union, and il the prompt payment Of the current,
interest and the final redemption Of tho principal
Of her debt, in specie its equivalent is calculated
to keep her credit unmpaired, then unimpaired it
will remain-for atho' the madness OF patty has.
and will again, bring forth apoogists within our
borders ofthe vilainous conduct OF Mississippi,
yet son OF Virginia dare, in our Legis alive
Halls, TO advocate such q doctrine. The noble
conduct Of Kentucky, in assuming the forged stock
of the Bank Of Kentucky, because forged by one Of
her authorized ngents-the noted Lovs-would
have done honor to Rome or Greece in their palm-
est days; and Virginia will never suffer the ustre
Of such jewel this incompatible daughter, to be
dimmed by the misconduct OF her mother.
From the Enquirer.
STATE CREDIT.
We regret that any remarks OF ours should have
given the smallest ground for doubt. at home or a
broad, that the interest the State Debt of Vrg-
MIA would be punctually met. The object Of our
first remarks was indeed to prevent ultimately any
such result We therefore most cheerfuly give
place TO the following statement, which is entitled TO
the highest credit.
We have, also, the pleasure to add, that we un
derstand arrangements have been made dispose of
enough of the loan Of s250,0O0 on the part of the
State 10 the James River and Kanawha Company
will provide for interest due the bonds OF said
Company. Arrangements are also in progress and
will no doubt be duly consummated for relieving
the bonds now in the hands ofths Morrisons. The
public will thus that the credit OF the Old Do
mlnion, in every particular will he preserved in
violate; and what object is more desirable, than
at all times, and especially in times like these to
preserve the Faith OF the State, not only pure but
free even from suspicionl The good credit of
State is, alter all, the wsest economy.
COMMUNICATED
Under the Editorial head Of the Enquirer OF Nav
3lst and June 81, two articles having reference To
a loan al 100000 on the part OF the State TO the
James River and Kannwha Company, are, uninten.
ionally, have no doubt, so framed TO authorize
some doubts in the minds Of the holders OF the pub
lie debt OF Virginia, especially foreign holders
the payment OF the semi annual interest due in Ju.
ly next on that debt, should the sale of the stock
lent to the James River and Kama wha Company not
be effected. The explanation in the article Of the
80 instant, though intended 10 obvatc misappTe.
honslon u, however, well calculated TO weaken the
public confidence in the ability and determination OF
the Commonwealth to meet her engagements, as it
implies ihat doubt has been entertained on the
subject. On this point il is important that the pub.
lie should be dsabused for il is fact that at no
time has doubt Of the punctua payment of the
interest on the whole public debt Of Virginia been
entertained by the officers OF Government charged
with that branch of the public business.
The phraseology Of the original communication
is capable of misleading the public in another i'm
portant PORT. The 100000 State Stock alluded
TO IN it, i', in fact, State Sock, but the Sterling
bonds Of the James River and Kanawha Company,
guaranteed by the State, which have not been sold
by the Company, bnt are merely pledged to the
house Of Messrs Morrison and Sons, rs security
fora sum of about 10000 Sterling borrowed Of
them.
Whilst making these explanations. it will not be
out Of place TO notice a foreign paragraph which
was copied into the American papers two or three
weeks ago, in which IL WIS stated that the suspen-
sion OF payment by an Eagsh house would "ocea-
SION some delay in the payment OF the dividends on
virginia SIX per cent. srork, portion Of those
dividends was reunited IN the shape Of hills on that
house" Now, it is proper 10 state explicitly, that
the interest," on ALL the debt of this Common wea IN
IS PAYABLE Of its oUn Treasury ut tho seat Of Go
vernment 10 the holders their agents. and that the
pof'on of II alluded to in the paragraph obove re-.
ierred to, has been paid IN cold and silver. The
equivalent thereof the Treasury Of the Com
monwealh. This State has issued no stock or bonds
payable elsewhere