Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1850-12-03

lhoriZed
This sum OF s. 900 900 will shortly require be raised b.
loans secured by the bonds Of the State. The sudden
even III. gradual sale Of large amount of State stock
can hardy be effected without depreciation OF their value
Tor on terms favorable the State unless such precauona
nv measures adopted may render them accepa
lc than under present modes OF procedure they ~e
10 be, to tho purchasers of public securities.
Under these circumstances, would recommend CON
ec reformation and reorganization ol The financial sys
I'm Of the State The form in which the public debt nov
lands is liable 10 objections The transfer Of stoci
encountered with many unnecessary iormaltes an'
tchnicaes impede the sale OF the bonds OF the stare
snd obsiruct their ready circulation in the marker
,t the utmost facility Of transfer from hand TO hand Is m
necessary condition the permanent popularity ane
raJy acceptance of any public stock. The evidences
Safe debt should be impressed far possible with all I'M
aliiies of circulating medium. The experience OF hs
ea government and Of several of the States has shewr
t The coupon bond possesses these characteristics in ht
best degree and meets with more favor Than extended
tony other Investment in the funds. The light OF such ex
Of ence ought be guide and should urge upon Us '
oocy of initiating such successful examples woui'
tbt elorc recommend that the contemplated issue o.
a5 10 900 b. raised upon bonds of this character.
ut in order 10 Introduce thai unity into our hnancia
SVEN which essential in many respects and especial
v its and orderly management al nome, nnt
to rcue confidence and aay doubt OF dstrst Abroad or
wo Id further recommend strongly the extension oil Inc sa
cbpc TO the public debt hitherto contracted by lie con
veron Of the bonds already issued into coupon bonds
redeuabe respectively The several periods now pre-
scucd by law. This change could be elected OF
teus advantageous 10 the State; for do not doun
tha considerable premium would be gladly PAID 10 Cd
tail the exchange of the present nnwedy securities Tor ONE
hons which would be readily and Immediately transferable
in urkc without any of the present formal restraints
VOID be advisable make such exchange compulsory
butt il could be effected premium OF per cent on he
mr. niue this stock, would recommend the calling IN o
The Id bonds and the substitution of Others with coupons
utthcd transferable by delivery alone This would IN
rocc uniformity simplicity and order into our system, IN
Mac of tile ntrcacy and confusion with which II Is now
trarneled and would Afford 10 the bonds ready sale and
FRI circulation such could nor be reasonably unticipa
ted continuance pcpcatlon OF our present dcicc-
tive ystcm In order perfect this arrangement II would
b. necessary authorize The payment OF The coupons or
Interest at the Of the National Government or II such
otter point might be designated by the Board OF Public
Works
ln addition 10 the direct debt Of the State above mention
I'd The rendered herself responsible for
III bonds Of several corporations within the State 10 the
4 unit oil S2Si4,37l, and has promised future guarantees
ioo he amount OF 81 l03520, making sum total OF
3ti7 S9l. The effect of the States guaranty To these
II is 10 render them virtually State bonds in the estma
oSof purchasers and foreign holders They thus compete
H market with the debenlures issued BY the State for her
oyH benefit and they necessarily pressed by the COM
Pt which issue them, into the market, the State finds
hrkf subjected to constant and injurious compet-
th 18th securities, which, while they derive their principal
v and virtue from her endorsement are nevehe less at
Ines tending depccatc her own stock, 10 impede
AGITATION. Ii the State be thus forced continually INTO
nap position, and be made at every turn the rival ct her
will vuny attempt 10 elevate with her night hand
she il thus steadily depressing with her left In order
pycnt the increase continuance OF ata policy,
ADJ the State, AT all times, the command OF her
ud markets. the choice OF her opportunities and the
section OF her times OF sale should deem II eXpe-
dnt identity these guarantees with the other bonds OF
Sate by issuing in their stead coupon bonds similar 10
se recommended above and protecting herself ana pro-
wing their payment and Tor the payment OF the inter-
thereon as may fall due by taking from the respective
cnpanes ample guarantees and mortgages Of their proper
Iy this measure neither the liabilities OF The state nor
Obligations OF the corporations, will be increased or al
ted while the financial affairs of the Commonwealth VIII
moulded into symmetrical uniform and simple organ-
Zion which will facilitate The circulation and sale OF her
SIX and consequently give 10 it Increased value IN hs
kci and establish her credit on permanent anu assured
Y bis.
he report exhibiting the state the literary fund is here
+ transmitted and you will be grahcd ~ see The en-
c.mgng prospect which itpresents.
he colleges of the state unusually prosperons-ihe
lvery particularly so il seems al length ~ have reached
destiny which the prophetic vision ol It's lllnstf
fader long ago dscerned in the future may DC SAID
qualification that this noble institution Is second 10
change of the law introduced in the Code has pre-
vted the printing Vt the report of the Board o visitors
I.derstand il of unusual interest Iul o important
iunaon Il ought TO be prined but Ter this provision
j Ut be made by law. .
ne military institute continues to be great fvoe with
Virginia public From the report of the Board oi slsi-
you will see its prosperous condition. ana you WI. Dc
psed the high testimony bears 10 the energy hae-
: tyd ability of the superintendent and professors
i loan, amounting something over twenty nous,
s adnllars made GONE years ago l" me fioy a,u
Il lry College. The trustees have been relieved rom .h
pant the annual interest," upon condition vi educating
siren young men, free Of charge for tuition BOARD hFe'
This al the charged by the college, IL equivalent
toxtcen hundred dollars year interest upon twenty tnou
sa and OF almost any other school or coesc
nr1inu would amount 10 al least three tousahu oo"
Thnrcasonabcness of this upon 80 useful college
mest 10 all. The institution Is III able 10 uas 'h'S
enn they entertain the hope that the legislature VIII re-
lie them except far 10 require board ana ui-
X lioanounng equal 10 the annual interest upon
d thnoney due The State. II,
Medical College in this city is 1ourishing under the
inl and enlightened gwen II last winter by the
l,slature. ,-
81 hf,tb
anerewh transmitted. They are full OF interesting mat
have no means of information concerning The asylum for
tDeaf and Dumb, and tina for the Blind al etauh'oh.
l. pune however, they are prosperous
he Bank returns shcw institutions TO be prosper
under the udcious management Of their present OH
he report of the Superintendent of the Armor shows
,condition of that Arsenal. The arms are IN thorough
Sc of preservation. The operation OF mounting cannon
a,orsed by the last Legislature, has been steadily gong
l. oand the work is executed in tho most superior slye
tho Adutan Generals report beg leave 10 call your
anton particularly The necessity for having compete
r. e,ment OF the militia Is apparent, whcn we ieiieci ''
l. oannlal quota from the general government IS
related Ivy these Virginia Inns, nl'doIoteuy os'
sy by impeec: returns Inc only mode q,
nuoxinalion correctness in them, was through ne
crol of the tdutant General the pay Of aoIuahIS
(; oesnents THIS has been c!.ag'd by Tie ac' oue an
sous injury will result the public Interest unless some
aus passed TO correct return.
connection with this subject beg leave 10 eau your
anton again the necessity OF encouraging Tie Voi"h
IA the State. / lie importance Oh ma h' ~ VI 81
i wis well known With small degree oil fostering care,
Vinia could have Il body OF twenty-five thousand men
.onpped and ready very short notice Tor acua SET
81 The preparatory drill through which they 60 woun
ple them very shortly when III service To ne peiIccus
y Client: herewith transmit for your consideration me,
NAL from convention OF officers assembled IN Richmond
inctobcr ast, touching the subject VI volunteer 'gaN
III hone will be the pleasure of the Legislature to eX
en- the members OF uniformed volunteer COMPANIES rom
:. &c upon irics II is thought by those best aoij y
me that This act will most materially encourage Tie VOL
j. uIer corps. -, ..., r.
10 Washington Monument commenced under sicn ia
vo. auspices has been prosecuted with rgor, and pro-
y.nr more rapidly usual with works Oh t' ciia
y rar Its cost il very greatly diminished from tue TACT
thahc stone Of which is bult Is procured "h quarry
thropcrty oil the State itself The beautiful granite CON,
p,,g this structure, costs therefore, nonlns except m
pri OF qIrtng and transportation nc 1ahes ii'ei 'o
Kawa companys elGs 10 accept toI ot 'nc sohc paso
lucown the canal intended for the monument dimnlse'
j. snrher the outlay.
Suo amendments necessary IN the law resui'in=
wells and measures 1t is very important subject ~ '
pul. and d, serves your attention.
lind herewith memorial from the American association
for advancement oi science. ~
r Vatcnare The worthy and Jealous phanropsi ha'
recdly sent some valuable and highly Interesting work
10 tStato library the university aud the military Institute
rcmead that tho ludabe object he has at heart be los
4 tereby the legislature. -....-. -
Il constrained to call yonr attention 10 The SUBJECT oil
rcyupnary cLns An obligation more sacred never rest
en- un nv PEG rc than that resting upon The Tinted oaio'
to pshusr debts If Congress persists in refusing 10 DIS
char.hem Virginia ought assume the obligation. Inc
grouGy urged against The claims mere rcteNis. ~
IL, boon tID