Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-09-05


The Debt.Paying Policy-Vrgiaia and .Ne1o York.
"RlsE or STocK.-A, auction sale of $4,000 Viz.
gina State Stock, by Fl Il w. Pannell, yesterday,
four thousand dollars taken by different purcha
sers at 500 %, and one thousand at 500. Very
recently, THIS stock quoted al IS
G.AortoM Herald IF Thursday, Juiy 13.
This is simple, but expressive record. II speaks
volumes II pleasant TO praise friends, and still
SO, when reflection convlnces US that praise IS
we'll merted. Such is The epiaph we might write up
on the financial history of the Old Dominion during
The last six months Her position has been like that Of
New York, of increasing debt and decreasing credit
and her recovery has taken place by pursuing like
fearless and faIihpeserving policy Al the session IN
March, Virginia Skies having sunk to 90 cents on Inc
dollar, additional lax law passed TO sustain the
credit and pay The debts of the State. THIS
hementIy opposed by the Wings and owing TO some
peculiar and onerous features, It assalled with
bitterness and fury scarcely ever equaed in all past
political contests IN Virginia. The canvass OF lc4o
as sharp that was would hardly compare with It =
The law held up peculiarly oppressive and yran-
meal upon young men, whose income, when exceeding
$780, It taxed Every PASSION of cupidty was excited
aud infamed, and directed against the measure, and
The Democratic party who had nursed 1t to lie
The Virginia press, during the canvass was never
more animated The Democratic party of York had
sharp skrrnish the law Of 1912 but their Virginia
brethren April last, had altogether more pitched bat
tie direct issue made the law, and the appeal
was carried 10 the people and they decided by an un
borrowing their chuice, and The effect Is
already felt II has gwen Virginia additional respect
and abroad. Faith, pure, unspotted faith IL
now on her crest, and her have TO be as
proud of their Stale honor as they are OF their own
and her stocks rapidly reaching those points they
touched in the palmes day of her credit; thus evinc
ing the sagacity Of her and the confidence
lheyare waking 10 life.
Like produce like efects-and we cite Vir
gina and New York IN point In each, tax
laws passed by the votes Of the Democratic party
The Wings IN both States, who profess such horror
Of reputation, were arrayed against them to man
But the people, in spite of every effort TO excite ava
and cuprdity most noby stood by these preserya
tive laws. They have determined that direct tax is
now the settled policy of New York and Virginia.
| II IS pleasant TO two such commanding States
stand out, the in the North and the other IN the
South and by their action giving healthy nerve to
the financial legislation of other States. Their inhu
ence, the one throughout the West, and the other IN
the Southwest, can scarcely be calculated
| Neither is the moral uninsructve This people can
rise above the paltry considerations of purse and party
faith and honor and character, and the reflected
light Of free Institutions far dearer to them than
pef They have also the sagacty to see, that while
making sacrifices and enduring prvations to preserve
un,arnshed the honor of their Government in the eyes
of The world-aD honorable and dlsinterested course
like this, where the people are sovereigns, gives Gu
muave and almost irresistible to power to the force Of
American example upon the monarchcal and people
Conforming institutions of Europe.
II cannot be too constantly in our memory that it is
the conclusion of the mJst rejecting minds Of the age,
that if the institutions of the old world tc.
raised il will be by the bright and cheering influence
Of American example, upon the public opinion OF Eu
rope. Our country and its Government is the Demo-
cratic light house of the world The eyes Of millions
are daily and constantly watching its light.
In this view, regard the benefits as flowing from
the exercise of direct taxa'ion under the emergencies
IN which New York and Virginia placed, as bring.
ing harvest, not only upon Americans at home, Of
sound credit, The true mother of steady prosperity
but also upon The people Of the world, in strens then.
ing the growing public opinion in behalf OF Republi-
can institutions the oppressed and king ridden
tries of Europe. The value of such bright examples
rs New York and Virginia, of honor and faith, is as
,ncaicuobe in dollars and cents, the value If Re.
publican Government would be TO the ,ong millions
of Europe.
! And to ambitious young men, it holds out the
Impressive admontion, that 10 "Be inst and fear not,
Is the surest road 10 high and honorable preferment
aud TO the confidence Of thinking people
There paragraph going the rounds TO the effect,
that Hon. john M. Niles is at present confined TO the
Insane Hospital at Utica. The story originated in the
fact that Mr. Niles on visit to his old friend and
family hysician Dr.. Brigham, formerly of Hartford,
and now Superintendent Of the Retreat at Utica He
has been also at the Saratoga Springs receny and
are happy learn that his disease supposed be fast
yielding to medical skill and change Of climate
[.feU Haosn Register.
| TIE YELLOW FEVER We see 1t stated in several
of papers, that Capt Pierce, Of The Wanda took the
fever board that vessel on her passage to ondout,
and died with it. This is not so-Capt Pierce left
here on Saturday, for his home, al Bangor, in Maine
1t is true, however, that he sick and came near
dying; but fortunate than the pilot, he recovered
The Wanda has gone with her fever to Boston, where
there is quarantine. Let see if they admit her
into that port-f. I. Plebeian, dug. 90.