The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-16
Richmond, Va.
Correspondence Of the Heraldl
RICHMOND, Va, Jan. 10, 1872.


Financial Crisis in Decentralization in the Cur
rency-State Credit Spectators.
The president OF the Bank of Virginia, DIR. Brock
! enborough. man who has given more fine dinners
and champagne, and oyster suppers, to members Of
the Leelslature-a man who has afforded more ia
ciltes to editors, SPECTATORS and loaers, than any
other bank officer in the ancient commonwealth
has been removed from office by the fiat of the
stockholders His lberaity to Thomas Richie
la green spot in the DESERT and Tom Green-his
devotion to the fine arts as displayed in the paint
, ings and statuary which adom the elegant man
slons OF the Richmond moblesse, purchased by the
facilities which the bank so literally supplied, could
not shield him from the bosom of reform. The
Enquirer Will mourn over the fate of its friend and
refuse to be comforted because he is not and can.
not De president OF the Bank Of Virginia
IL THIS salutary measure had been adopted when
the expose developed the speculations and frauds
which the two Greens had carried on through Dab
ney, the public and the stockholders would have
the last two years. The Bank OF Virginia was the
principal machine used in robbing and running the
people OF this State. 1t stimulated speculation, and
involved the State In debt for base and pernicious
objects OF personal aggrandizement. After getting
the Legislature to create State bonds for the osen-
slble purpose OF internal improvements, the clque
wrote to the country for their friends TO repair to
ttichmoId tnsfamter and purchase them, by which
pending one dollar of capital, except Just enough to
pay expenses to Richmond and then oPhiladephia,
the great Mecca of the stockgamblers, where they
buy the bonds, and dispose of them to some other
such innocent third parties as Earrings and Mori-
sons OF London. But being two slow in their move
ments, and before reaching Richmond the bonds
were disposed OF 10 some Penniless financier, who
realized his thousands of dollars by one single ope-
ration OF the paper system
BY such facilities as this paper system has afford
ed, Shocco Hill has been covered with palaces.
Green has made that elegant falling garden, and
adorned 1t with statuary, that seems TO vie with
the Louvre. The people of Virginia are now to be
taxed most oppressively for years in order to sus-
tam this system and pay for the sta'uary and extra
OF thousands OF poor farmers will be driven from
their homes by the tax-collectors and sheriffs be-
lore next January, for the honor of the State and
the Greens, the Dabneys, and Others to reve in the
luxurles OF Eastern nabobs. The taxes must be in
creased 40 per cent this year to pay the interest
the State debt, and the honor of the State and the
interest OF the stock gamblers sustained, while the
children of the ignorant taxpayers are hungry and
hall clothed. Reputation or starvation stares the
people in the face. The legislators declared they
will not repudiate, yet they dread the indignation
OF Inc people II they lay tax sufficient to cover
the delinquency of the Spectators who controlled
the banks and the James River and Kenhaway
Company.
Mr.: Parkes, ofKenhaway, made speech against
people for the sole benefit Of others, and he secuted
the idea of ever hearing Of vrginias honor being
iarn,saed by refusing orfalng to pay all debts CON
has yet paid her colonial debt; barrels full Of
her dsh0nOred promises now in existence, call
ing for Spanish milIed dollars ont of the Trea-
sury of the State. North Carolina, Maryland, Penn
sylvania, and Massachusetts,, are al! i'll the same
category, bu' of whose reputation Mr.. Parks has
enjoyed oblivious bliss to this hour; but his con-
stiiuens will probably improve his historical lore
before they pay another years taxes.
have heard OF single circumstance which so
powerfully illustrates the lniquity and Partially Of
the paper system, that will relate it. When it was
ascertained that Ben Green and Dabney had con-
suppers, statuary speculation, and sulphur springs
letter was written to brother, who held $l50,OO0
OF the stock, to sell out, the bank in the blue
stage, and must collapse. This friendly hint was
not lost, and the stock sold instanter at los,
while In reality II was not worth sous. This bro
Their has now his capital in his pocket ready to buy
in the land and slaves of his innocent and deluded
Will Bring her yae fh ~dep sy
zion Of property produced the present year by enor
nous taxes. and the payment Of debts contracted by
the expansions produced by the same capital few
years ago, willenable such persons double their
fortune in one year, and thus profit by the very evil
inflicted on their neighbors and country And this
most iniqutous transfer property from the honest
and industrious farmer, to the dishonest and cunning
bankers Is openly carried on In country where our
fundamental laws exclude all special privileges. But
all these crimes and ourages on equal rights are per-
petrated under the cloak Of Virginia democracy
Maryland is on the fair way TO repudiae her debt
as she finds it impossible to collect The taxes Geo
Poe, who made two hundred thousand dollars IN a
few years. in the capacity Of cashier Of the Branch OF
the u S. Bank of Mobile, built fine house in Bal
nmore but such was the amount of the State tax
on his income, that he sold out his house and remov
ed to Georgetown, D. c. where he hires good house,
educates his four children, and Supports his family
less than the amount levied on him by the State OF
Maryland to pay the fundhOlders.
Homo.
Nax~