Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1843-03-02

exceeds the indebtedness of that period-so
that much greater circulation IS required to
slibserve the wants of the community How
can tie circulation be increased? Surely. not
BY leg'stating, so as to destroy the confidence
at all times necessary to credit'-Sureiv. not
by retarding the collection Of debts or post
poning payment 1t would be utterly incon-
sistent with correct banking principles, to dis
count literally under such state Of facts, and
it is perfectly impossible for the Banks to in
crease their circulation, and yet maintain spe-
Gle payments.
There is one Other view, and 4 will have
done upon this subject. If the debtor class
did avail themselves of this stay, by executing
bonds, the whole amount Of property thus
hrelcased, or great portion, at least, would =
gain come into market, and the same reason
which is now urged for postpenng the sale.
would apply them with equal force. But we
are met here with the assertion, that the times
may get better. From what s,tppos;tion have
you right thus to conjecture? From whence
can come an extraordinary demand for orr
agricultural products? Alas! these anticipa-
tons are not well founled-anI, IF not. all
your relief measures will only have the effect
of postponng the evil eiav. and then. as come
it must, the debtor is overwh elmed, together
with his confidng friend. Entertaining these
views, my course was obvious, and was con-
strained to vote against the measure. s vali-
alton law spoken of, but it had 50 few
friends and the difficulties attending ali relief
measures SO great that the measure WAS a.
bandoned. But. we may be asked, can there
be no relief afforded? We ansN er. that no
legislative action. in orr opinion, can effect 1t.
Ill we could devise any wav by which
the present indeb; edness could be liqai-
dated. none would give It a heartier sup
port than myself. We cannot. b, Iegis-
| latlon, discharge the existing debts Of the
people. Is there, then, no relief ?-None,
fellow. citizens, but through that native
energy which YOU possess, bv the exercise
ut which, aided by a strict economy. YOU
can. by degrees, emerge from the distress
! by which you are overwhelmed. am
admonished that have protracted this
subject too far, but the interest have
felt. and still feel, is my only excuse. I
am happy, toe. in kuown that the pres
sure OF the times has not fallen upon you
with the same severity with which other
sections of our State lave been oppressed,
and hope it is not travelling out Of the
record, when say. that this exemption is
mainly attributable 10 yotr economical
habits, your plainness Of living, and your
Industry. Other grave subjects have oc-
cupied our attention. such as the subject
of taxation. and the best means of Iiqni.
dating an increasing debt. Upon these
subjects have expressed my opinions.
which have been published. and which,
am pleased to learn, meet your approba
ton. again return YOU my thanks tot
your Kindness and forbearance; and. al.
though ! retire into private life, | shall
still be found fighting, side by side. with
you in all the great contests FOR principle
and my voice shall still he heard in de.
fence of our common rights. and IN ex.
posing error or political humbugoery.
SAML. c. WILLIAMS.