Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1843-01-05
THURSDAY. .La.AT.7RF ). 1873.
EDITORS CORRESPONDENCE.
RIcHMosD, Dec. 81, /

hthMosD, Dec OIL, lc4Z.
The House Of delegates has been very thin during the
last week. many of the members not having yet return
ed from Their homes, whittier they had gone srend tie
Christmas holydays. The consequence has been that
Tor several days past, very little business Of importance
has been cilled up for the action of that body To-day
The most remarkable proposition heure the House was
resolution offered by DR.. Powell of Amherst (Which
he preaced by remark, that he chopped it would no,
sar'lc his political friends, slrueug the Appropriate
committee to inquire into the expodency of protecting Of
the Banks against brokers' The resolution was laid ON
the table. From the various movements in refer
ence 10 those institutions. during the present ses-
sion, begin 10 think that they have ceased to he
regarded ny our opponents terrible "AIodsiers" the
eAtei''nalion oi which was demanded by the he hest
considerations OF public policy happy To see these
Indications OF returning wisdom, and bail ihom as fiat
'ef'ng angury ol restoration ofonr national prosperity
"nch mas been 81 lately Frustrated by experiments,
vain as they were rash, to give beler currency ~
when we already had the best that human wisdom had
ever devised, from the fabulous Golden Age down To
our own impatient and bated attempt to restore" what
never existed! But by what means the Banks are To he
protected against the brokers' confess am at a loss to
conjecture VIII the friends of the proposition recon-,
mend that the Banks may 20 into state of martial
snspens,oin other words that while all other holders
OF their notes shall be entitled to receive specie heref
on demand, the brokers shall be denied that equal right
Such discrimination would hardly be in accordance " 18th
the principles either of justice or of "democracy;, but
even II 1t were, how could it lie enlarcedl How would
the Bank officers know broker from any loIy else
Are we 10 resort 10 tsI oaths Or even
they bore about them mistaken mark of
'hcr tdbdoed profession how easy would be fer them
10 place then bank notes IN the hands Of an agent and
thus draw specie from the Banks by proxy? The moyer
OF The proposition will find the subject enyroned BY So
many difficulties, that, if lis abstract Justice were
less equyoca, or lis utility more manifest there would
be strong doubt Of the popricy Of any legislative enact
ment in conformity with it.
On Monday. it is presumed, large majority of the
members Of the House will have reached the civ and
the more important measures Of the session viii h.
brought up One Of these is the application on behalf
Of the James River and kanaula Companv. far the
payment cut OF the State treasury of the January inter
ess upon The companys debt amounting To about 3d.
ooo' Inns application does not snrprze those who paid
any attention To the development OF lis lima ncla condition
the last year Indeed grows of the provision OF the
ac oi the last SESSION. requiring the Company in exchange
tor State bonds to tho amount Of $500 600 to cancel
SOOOoo OF the guaranteed bond, then in il, possessn
and hypolhecaed with certain European houses m Sc
curly Tor The Obligations of the company II the Leris
ature will now permit the Company to use those guar
an,ced bonds is hoped, without tho occurrence s5u4
extraordinary and not to be expected calamy that /,
Will be be hereafter enabled To meet punciualy its en-
gagemcnis But in order do this il is manifest that
revision Of the existing tariff of tolls is absolutely peces
s1r md b.a J,I
such shorttime that my intercourse with tho members
has been very mi'ed but as far as have been enabled
TO learn their opinion in reference 10 this matter !, is
mat 'he 'corh must be made topay its ,cay. and
that those who have been, and Who will be most benefited
by Its construction, in the greater facility safety and
choapneSs OF transportation are rather than those who
1--we remote from the ue and can enjoy none Of it's adj
vanlages, the legitimate and proper subjects of taxation
Tor hat purpose They contend that the State treasury
recev1n. its supplies from all sections of the common
wealth cannot justly be called upon pay the debts or
The interest npun the debts Of Company whose work
is, thus far al least local in its chacer and in lis bene
fits. And ii is very certain that if The tolls lie mol
adjusted on such scale to enable the Company to
meet annually It's Liabilities of all kihds the Stale will
soon, as the only OF reimbursement for It's advances
become the soe proprietor of its woks-and there can
be no doubt, if that result shall happen, that the
tolls will then be adjusted with exclusive reference
the capacity of the Canal To produce revenue
10 the treasury-a revenue not adequate alone
10 meet the expenditures upon its own account. bnt
10 the full extent offs ability bear taxation, and with
out The slightest reference the Interests or wishes
OF tho helpless minority living upon the line or sending
their produce and commodities hher for transporlaton
The true policy. then me- Of the people iv
ing trading TO james River is to keep the work in
their own hands and 10 prevent lis transfer TO the State
the greatest calamity that heall them This they
Gao do by such an Increase Of Tie Tolls ;. will cabo the
Company to realize sum sufficient 10 meet its
annual expenditures and prevent the perpeiual
repetition OF these applications TO the Legislature for re
liei and and assistance--and they can only do
IN this way. But, whcfcr with or without
cosscnt permission raise the tolls will unnnestion
ably be granted TO tho Company by the Legislature
precisely for the that fthe Canal were now
state work. exhibiting like deficiency between its
means aud It's liabilities, the representatives Of the other
Sc tons OF the Commonwealth, in choice between the
only two modes. IF supplying that deicency,--to wit
lrs oil taxing the trade the line. or secondly Of tax
their own constituents would naturally sustain the for
mer THIS is question in which the citizens of Lynch
burg and the country trading to that are especially
ntercsed and it w be very gratifying to me to rcceyc
such facts and suggestions from any one of them as NAV
serve to guide Inc to correct and satisfactory conclusions