Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-09-30
KELIEE To TILE SrArrs.

The Hon. William Cost Johnson addressed the
people OF st. Mary'sa few days ago on this sub
ject: His speech is very long, but we propose
Publishing il at future day. II is proper that all
sides should have full understanding of his scheme
In connection with this subject, we publish the fol-
lowing extract from the New York American, OF
the 25th:
State Debt in D.taui-we think the following call will
fall deaf New York but par, and parcel
all the Satesit is the mighty heart tina, propels the blood
through all the living arteries of the nation. Whilst we
feel the benefit OF strict integrity in paying State debts OF
desire not monopoze these benefits but
them extended the limits of the Union. But
ii the limbs parolyzcd, the heart may live but lives
desires yc-t desires the Giant body
full action. and then pusatOns will give and receive
health.
To J. ID. II. OGDEN, Esq, President of the Chamber
Of Commerce Of the CITY of Ner York:
Sin: Few subjects have been discussed with less benc
fetal results than the deiacaon OF the States, which, il
calmly reflected upon, fail to be regarded the
important OF any before the county When speak
OF the payment OF debts, would be understood
meaning more present. than the payment promptly of
interesthc lender asks any rate. when the
OF public debt faithfully paid, the lender who
the principal will always find his place supplied by
another lender The aggregate amount OF State debt not
larger than be sustained, where IN this case the
Of principal has been applied useful purposes
and not, the with other nations been created
The general benefit that would result 10 the large
by he restoration OF State credit could only be surpassed
by the actual injury that has been sustained by the downfall
OF that credit. Not a State, community. an individual
has escaped directly or indirectly injury by thai
downfall OF State credt-he only form, when FELL OF pub
lie security existing with US.
one hundred and 6tty millions Of dollars, struck down
fatal blow, from all purposes Of usefulness could not
fail be felt by all nierestsand infinitely us was
that blow against public credit than much
much gold and srer owned been sunk sea by
nj n tnds
and commisseraed butino case swOrsei not only
the dead loss Of much capital but also the loss charae
ter-he value Of which be measured BY gold or sill
Ii was remarked by one who knew of the
world than he had proed by that he would willingly give
thousand pounds for good character because he could
make twice that sum by one. As with individual, how
much more important 10 n Nation :!
IL said in the good Book To HIM that hath more shall
be given; but from him that hath not shall be taken oven
that which he hath, or scemeth.to have. Deplosby
have We iourd this 10 be.
We hear from all quarters of the country that pros.
pcny abounds Ii this be iEue and fail pay our
State debts, it only adds difficulty and our short
sghtcdness Better by far for would be on the score
OF good character that whilst pay our lust debts
that poverty, loss OF crops and all other caames of pc
cuniay inability awaited Our prosperity and our un
Willingness pay OF il, adds but to our DISGRACE
The period Is approaching when the epsntion of
the States and the General Government is about 10
he whole civilized world now the audience and the grea,
drama 10 be performed the actors One practical
view OF TINS subject Is worth all theory. 1t this every
dollar OF State debt default of payment of interest lust
SD uch destructive OF capital let credit be restored to IT,
and It Is the best OF security Just so much gold and silver
II Is true economy, then, to restore State credit
address this communication you as President of the
chamber OF Commerce of the CITY Of New York; point
OF all others looked take leading action in This most
porant maiter,-and solicit your active effort in the call
oi meeting OF that body, and place the sube.t in
pacuca aspect nndto adopt shall
Il hSht iecIlng and Just action in the premises.
a MEMBER OF TIE CHAMBER.
We await the action of the Chamber with much
curiosity, and still more interest.