Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-02-10
~ nc E.lllors nf TIC Enani.cr:

To TIC Editors Of The Enf.ifcr:
Iperceive with regret, iha, The COMMITTEE on
Finance have recommended a reduction Of the
taxes, and what is more remarkable, the Com
m,ce are opposed 10 the payment OF The public
DEB. directly from tie treasury. The idea that
we might re-invest our debt in six per cent stock,
which selling a, a considerable premium, then
appropriate The amount thus produced by The
premium paid, 10 the payment OF portion of Tic
debt may suit the policy OF asinie flGancierS, bar
is wholly al variance with conmon->ense, every
dav transactions. Suppose, say he Committee
We could sell our stocks al a premium, how ca>y
could we pay he debt But suppose that or
stocks sold at discount and he State were com
PEELED 10 meet The demands of her creditors,
wouli there not be runous lossl have known
STATE stock 10 sell al IS dollars, when in reality
The State was perfectly able TO PAY all her labi
lies And suppose tina, the period arrived wbeG
a large amount OF our stock was dcmaEdabic, as
OF right bv the creditors and The Stale bonds al Il
discount Tie tables would be completely turned.
No. gentlemen, sounl policy and common sense
leach rs thar individuals or States, shund, when.
eva in heir power, iquidae. 10 The extent Of he,r
ability. Their debts. The position II he commit.
iee has an awful squirting Al III idea thu; 4 ,ua-
tionaI d-bl is national blessing or that It's abl
should he held rerrc'ua!ly il icyrerem over the
friends ot internal Improvements. llO. kcd, with
some anxiety, Tor some recommendation ios dis.
posing Of the anticipated surplus. SGG1al6 t.
of oar debt is now redcemable al the pleasure /
the Legislature and yei The interest is 10 lie ~
upon that sum, amounting annually 10 $40 15c,
and. the taxes reduced, because il is impo!ilc 10
demand any more money from the people, and
any higher taxes paid, than The wants OF The Co
vernment require. And this annual interest is 20
he paid and The expenses Of an agent along with
il, in the hope that we may fund the debt at a
preminm. No, gentlemen-pay whenever you
can; save The large annual interest, and BY de
orees, without burden>ome taxation, we should
in due time be wholly relieved from debt. II The
taxes of lS43 (Which were less than the average
Tor 50 ycars) had been continued The S661 .96 81,
now redeemable, would have been paid cii-
PAY al YOU 90. is 4 correct maxim; and pay wien
YOU can is none the less so. | fear gentlemen.
that too many demagogues are creeping inio our
legislative ha lis the dear people must he protected,
and il the taxes can be reduced wha, political
capital may not accrue 10 them? Res: assured,
the great mass Of the people ia not agree with the
Recommendation OF he Committee. The annual
saving oi interest 10 which have referred, would
paw more than hal. O, The expenses Of The session
ofthc Assembly, aud why no, then appropriate
the balance in the treasury 20 the payment OF the
debt
Another result, much TO &c lamerted, is 10 flow
from ihis reduction 81 The taxes. mean noihirs
- he dorc io. The cause oi education CnUill
ihe;e have been more general expression q!
opinion in favor q some change in The present
system? and YET fear he Legislature viii al
lorrn and mol atiori even ray Of hope upoa The
snhleci. lave we become so selfish and
arisfo-raiic that we cannot pay one cent
in taxes, u educate cur INDECENT children =
Do We fear that the native mind OF these unfor.
lunate individuals may be 50 Frightened and
polished b. liberal system Of education, that
il NAV interfere with cur young men, whose pa
rents can now give them collegiate education I