Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-02-16
M u,v. ap3 Means.

' 10. 10 CONTROVERSY with the Compi-
1--we shan e"' Mans and Means That journal mas
about Wv NV ,hs mark with great and com'henuaoie
Gently 'os 40 would much rather touch on ,noso
IL which we agree, than those VI. W."
ats on ""N Whatever then may be the Penehane
il d''ekh ,- we are happy TO receive rom ~ ~"
3rf reisnoo', ,-o,cs abont ssthe maintenance oil
u aaqa ".,d;, for that, Wing and Democrat anu
sw" # YOU pleasc) are all as enc i"'9 y"
1i'! AN that we have io sag 'aen Gays Tue
q SUI 70 lay on the buriienS 'i"e GENE" -,
mp 8, tia, freemen may mol 'ee' "''''
.al'ed . with This important subject, we Jay DC
II cona'",,o" rsrv interesting communication from
e on, 80, merchant of this city. lie Po'"'s gu,
'e'sno,, If lioht the state of our hnances-anc
n luz s,y.c,s which an efficient system OF taAa'
A'''i,nI.,ed TO produce upon the creot OF Tue
cn Is ..r,a of our stocks, and the rei'ef OF the
''f' ~. na s,,ll more the relief OF The feope. Lei
6's' 49,, crisis then, as becomes men, VINO value '"e
smfs' u" md without any regard 10 party consi-
.5ic '4' ~ ,bp only question be, not who orgna-
;luots os,r,no, upon what party 1t IS to operate,
-L, wil hes. serve The hepGo"c
.... ro,7oR or TIE ErQUlRER
TIKI EDi' hil has been reported from the Finance
pear -" g tho n o.! D., setting apart permanently
H'n''s ,rr from the taxes on land, lots, slaves,
t'iOV ,aerses. &c. 10 pay the interest and pm
-, ,nb!,, dent The annual interest on the
p'' aah, e sIS3, O00-ieaving 500 ,oco oniy' as
"a - ,s5eem The prncpai-and 'h's is 70 De aPpiiea
e, 10 the payment OF '''ne 'eupo,a - n,sa,
u" =, toa, or NAV hereafter be contracted TO meet
Bnay nv. 80, ~ tho Treasury This temporary debt
3ns is $3.50 900 due the 18th December
1 is'' and BIZ forced loan IN effect, re Dor,
k's' 80 no Maid ut The rate CT five per cent every oo
pow, Io5 coo wear for three years, and the re-
nor Sssj0, coo in the first 'nr "en,nS oi tne
rbs debt 10 be created to meet The osiicency N
Treasury, or paid by increased taSa'on' So'ooo
EoF ~ doeercy ana $50 600 tina, the State IS bound
anhuI. ,bI,,;;on 10 pay for the James River and
|ty So, Co,onopc The validity of this obligation
49, acknowledged by al 'ananimous vote ot
N ti,.o of DELEGATES aud Senate; the sum OF SlS,'
po has ,I,.,dv bcen rad The total debt due, and
:, mid This wear, over and above means from exist
,,r,,;on IS S2l5 900 and in the next three years
I'D ,our months. including annual Deficiencies, oou,ooo
dollars. &C ~.
+, November last, previous to the meeting OF the
s,;.la,urs. so.e toads bearing interest OF b per
rsS, aer annum, sold in the market at discount OF
~, mr. cent TIE decided stand taken by the Com
,,,tse on finance, and the unanimous vote oil the
LEGISLATURE against repudia,ing their solemn obligation
entered into IN 1882 10 guarantee certain DEBT oil the
lanes River and kanawha Company, have caused
,ss state bonds to rise 10 90'only 10 per cent dts
count
TIE passage Of this law, setting apart certain stable
ne principal Of the public debt, evncing deternli
,7on ultimately (,n 80 or 30 years, this sum VIII
' 10 pay the debt is confidently anticipated by the
mercantile community TO raise the stock TO 20, or up
wards
The advantages of this law will be,
lst Instead of raising by increased taxation upon
he people this year S2l5,000 repudiate solemn en-
$4,000 additional taxation Will ena
ls ihs State 10 borrow advantageously the remaining
,l 0CO-,o be re- paid the lth and 9th year, and the
eiseacies Of the 2nd aud 3rd year can be paid The
sL In the present condition Of State credit, unaided
~ s,ch Legislative cnac!ments, the State could not
,g-:9N money without. runous rates CT interest anu
erre sscn of her stock.
BADLY The Banks, the merchants, ind people have a
lrr interest in approaching and sustaining this stock,
+ which there is 100000 held in the State. Fer
very $1,000 eco of this stock, AT PAR, the Banks can
ocrre 900 specie, and discount $4,000 on It,
nd add that much 10 the circulation Merchants can
ems, II TO New York, and draw on it, and thus dis
barge the foreign debt, which pressing them. 1t
VII take up THERE the Virginia notes, that would
.herwise return on the Banks for spece-ASD, THESE
uroKrAxr OBJECTS ATTAINED, would give greatly ia.
reaset value to all good securities, and thus draw
9TH for investment, and put into active circulation
.-re sums now boarded By wealthy and lorebanded
viduas Indeed, it is difficult 10 estimate all the
iyan;ags that will flow from the passage OF the law
auesliontor let it never be forgotten that the dit
renee between rigid cura OF the circulation by tae
anks, and the consequent depression, or moderate
taxation and expansion, Is JUST TIE pirrEKEHcE BE-
WAFNLlfE ASp DEATH, TO COMMERCIAL MEN-and the
erence between continued curtail, which draws INTO
e Banks every dollar, there TO remain, received Tor
reduce or return it Immediately from the country, if
reaches it-and moderate relaxation, that suffers the
oney 90 10 the country, and there circulating, PAY
q pl Br AFTER DEBT, is that between distress and
ease. There is, perhaps, law that
omises so much relief TO all, this, WHICH ASSouS
&. 10 THE WORLD, THAT VIRGINIA mas COMMENCED
iE PAYMENT HER DEUr, and will not add to it, year
MFR YEAR, UNTIL IT ENDS ~ REPUTATION.
Yours, most truly.
This stock has sold, within day Two, a high as 60