Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1845-11-14
RICHMOND DAILY WING.
TO THE PEOPLE OF VIRGINIA.


In the preceding number Of this ssres Il as stated thu,
the 'stsfsndi"s deb, Of Virgins. u . little lee. than sig
m'"ns t~ss there shewn how smsn the amount Of thu,
dobt . when spportioned amongst entire population
snd how ve1 sms the u interest that deb
sapposng the Whole VI that inerest to be charge upon
ssr Treasury. wss further shown how much lees that
debt lie than 'hose Ct eish, other States OF the Unon
some oi which States have experienced from their
idsb,sdnss any financial difficulty sud tho remainder Of
which are u present relieved from the embarsssmens
which they cap, fenced for time and consider
ed in solvent eondion But what will you say, Virgin
ans. shalt demonstrate you, that your State il
really in debt ct ALI What. IL shall demonstrate
thst although there an outstanding charge sg,ns, her
Treasury there the disposal Of that Treasury
suicsni 10 hqsdsis snd sxtngu.h that cb.rye-( not
more than sufficient Yet such Ia the fact and that this
30, will proceed 10 demonstrate by reasoning o. indus
p1fsSis - any Of 6nassiai character cen o.nte
true that according the last annual repot, of the
II Auditor. the Outstanding liabilities Of the Common
wealth. amount To 4596sOl7. Blu, by the same report
spprs" that her funds and resources 2ss
9a3 o. these funds and resources true that all are
not available productive The amount Of those h., .re
either avssbe pre- ducve is according to that report
t61Oi]i5. or this amount. dividends were actually
paid TO the Commonwealth in istt, Sc. SOL 45-which
dividends did not however, an average Of ak
per cent OF tho amount stated by the I'd Auditor as
unprodsefire, which - 5sT 53s-it is not to be
s''s OF number Of Stocks in roads, canals and other iu
povement., which may hereafter become productive. md
very valuable. They may therefore, be estimated NJ hav
ing u psstaf salue-though n greatly reduced valuc-
Aud In point OF fact, portion Of these Stocks have nm
actual market value. For example, lanes River and
ksnswha Stock will command about q 10 ON tho Sha,o
aud Louisa Rail Road stock from 30 to $40
And that we may have clear view Of actual fnan
chi condition Of Virginia, let suppose that the State
should resolve immediately. within the year wo
to liquidsie her outstanding debt Tho question is could
shs do so without Increasing the taxation Of peope
The answer is she could. And ii il be asked how nm
swe ey bringing her fund.- and Offering then,
To the highest bidder. Aud let Us see what these
'unds would bring her under the hammer. fair and
reasonable estimate.
have prepared table Of estimates which think will
ia the main, be found to be fair oue and certainly moi
very pide Of the mark. have esrn,ted Virgin. Rank
Stock st IS per share This may he considered an over
been low o5S, and that since been as blgb s
80. and will nov readily command 40 Il will not be con-
sdeed unfair 10 suppose that will shortly attain tho per
manent value OF S75. The other Bank Stocks are esma
ted Of par IL true, that the last sale Farmers Bank
stock was only 81. But intelligent doubts that Il
worth and will stand price in The
IL mas been steadily advancing since the drranye
ment ct the Banking system, and has in the last
egnGen months IL per cent Petersburg and Roanoke
faii Road Stock is also estimated par And this tsri
mate rbased upon good authority. Richmond, Frede-
rcksburg aud Potomac Rail Rad Stock 10 estimated NJ
$50 And voucher for the correctness OF this estimate
haLsded IN the asseveration, that holder Of Stock
will consent to with Tor less TINT amount since
the late dividend has been beforehand few NJ than
par Old James River Sit OK paying per cent is cs,ima
ted only at par The amount reported BY the 2nd
Auditor as nhpI odsefr<, estimated only OF the nett
value OF Is cent The table of estimates here exhibit
tod conians statement Of the par vnue or original cost
OF the stocks the vi value and value
Par rdive. Eat. Of roiHe. Esn'd ralue.