Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1843-03-02
TO THE VOTERS OF
Shenandoah County.

1 deem &c proper .hus W di'i'"iee 10
you nv determination not to be cand-
date for the House Of Delegates at the
approaching election. In retiring from
public life, into which yaar great pafti-
atty called me, it would be doing VIC
lence to my feelings. if did not paool..c-
iy express my gratitude for the honoufs
conferred upon me. My youth and mex
perienee have prevented me from advo-
eating your interests as they deserved
and that which have attempted has been
but feebly maintained. | may be per-
mitted to say, however, that your wishes
at all times have been looked to as
guide for my conduct: and, if' | have
erred, it was the fault Of my head and
not my heart. therefore hope, that
those interests may be conlided 10 more
worthy hands, AID our common pros erty
and happiness promoted thereby.
1t nav not be deemed amiss to append
a brief account of some Of the grave CUES
tons upon which L have been called to
act. and to give the reasons which gov
erned my conduct.
The first of Importance to which shall
refer. was bill authorizing the banks
of this Commonwealth to issue small
notes. To the principle / have always
been opposed, either as temporary or
permanent measure. No enc theory in
monetary affairs has been mare fully con
tirmed, than that DO two substances de-
singed as a circulating medium. ct une-
quail value, can circulate together. The
one the least valuable will repel the 9th
er. Apply this to small notes &speeie, &
the former banishes the latter from circu-
lation. These small mites. it was pretcn-
ied at first. were designed to supply
the place OF specie duriug the suspen-
sion; but the friends Of the measure now
say. that at present il is to preveut sus-
pension & to enable the banks in the only
way to extend their circulation. My OPT
MON is, that there will always exist Il pre-
text for issuing these small notes. & thus
indirectly effect that Which dare not be
done directly. The known hostility of
the friends of the Banks to large infu
sion Of specie into general circulation,
is fosteretl under the cloak o! relief; and
that which is now done merely as a tenn
Dorary measure, will be changed into IA
permanent policy. Indeed doubt not
but there are decided advocates for such
a policy now.
The subject Of a Stay or Relief Laar has
engaged our earnest attention. nat
distress, perhaps to an une xa'npled de-
gree, is pressing upon the people, was
fully evince,I by the earnestness OF the
friends for relief. as well as by the mature
cor sideration it elected. .isa'nst this
proposition / was reluctantly compelled
to vote, aud will now assign a few rea-
sons. which then Influenced my nlnd and
are the same in substance which deliv-
cred in opposition to the bill. st. As
to the constitu,ionaii.y of the measure.
lay this down as principle which eau
not be successfully controverted, that
the legal remedies by which contract
may be enforced. and existing at the
time. nust OF necessity. form part and
narsel of any contract; not expressly
admit, but implicitly. Suppose there
was no law by Which IA contract could be
enforced. would any be entered lnto.
more especially when there existed an
entire want of confidence? This. / may
be told. is surprising an extreme case
yet 1t illustrates the principle But, sup
pose that law be passed. preventing the
collection Of money for Two years, would
any individual! lend his money without
hesitation, and would not the terms be
governed by the circumstances? When
money is loaned .upon4an usual cfdif, e..
tier the interest or discount Is increased
or greater security is required. This
demonstrates that the mode of COLLECTION
| does enter into the contract, and that tht
! terms are mere or less controlled b. l.
Now, by what authority can Leglsia
ture say, that debts contracted under /
particularsiaw shall be subject 10 restric
tons and delay not existing at the time
nor in contemplation by the contracting
parties. Or by What right can law b.
made TO have a retrospective operaton,& IN
h.at serious injury uponthe creditor class
| merely upon the plea Olaf riding relief +