The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-06-24
Prom The Baltimore American.

Prom ,hs Baltimore American.
the Public Stocks Credit. Resources. Of Virginia
We thak il Will not be eontroverled that The value
OF public stocks depends upon the credit oil the govern
ment which issues them and that TINS credit depends
upon the measures disposition, ana apS =. M ~ v ~
credit resources and conduct oil Stale are out iitlis
known beyond her limits and The Commonwealth OF
Virginia illu slrses this truth Al home she Is rated as
she deserves 10 be and most OF her public STOCK is
The hands of her citizens, who know ITS value, who
hold il fast and prize highly But at distance this
noble Commonwealth lis viewed as Stale entitled 10
consideration mainly Tor the wisdom and services OF her
orators and statesmen and her generous and patriotic
sacrifices for the peace and safety Of the Union. Her
immense her annual staples, her comparative
y limited debt, and the exact and scrupulous puncuay
with which she has always fulfilled her public engage
ments OF every kind, To be but little understood
abroad aud in this respect she may not be lnapy styled
he Great Unknown" But TO the minds OF those who IN.
stuie the INQUIRIES and necessary 10 proper
knowledge oil the facts the conviction Will be clear and
conclusive that Virginia, the OF natural advan-
tages and varied sources OF power aud wealth unques-
tonably stands high, il not higher than any other
State in the Union, and that her public debt compared
with her ability 10 sustain H. is but as leather on The
cancels back" The wonder is that, IN these fortune
seeking times, such valuable and inexhausuole ee,
ments of public and private wealth should not have had
One Of our most active and intelligent citizens, James
H. Carter esq lately addressed letter TO Governor Floyd
OF Virginia calling his attention to the various statements
which describe the debt credit and OF Virginia,
and asking his opinion about them For the information
of the public publish below the entire correspondence,
not doubling that the valuable knowledge which it dis
closes will repay the reader for the trouble II may cost
him
Letter of j. IL. Garter, esq
BALTIMORE, June 7lh, 1851.
Sir; The highly responsible and distinguished official
relation which you sustain to the ancient Commonwealth
OF Virginia must be my apology for the liberty take IN
wSab an s yop S
est in view of the extended system OF internal improve
ments now in progress in your State >,
several articles the subject OF Virginia and her re-
sources. They appeared in the National intelhgencer,
New York Commercial Advertiser, and other leading
Journals copies of which take the liberty to enclose,
and beg ask to what extent their statements may be
lied upon Do they mbody fully and accurately, all the
facts essential just estimate of the capabilities of your
State and of her claims the confidence of capitalists
If these be entitled TO entire confidence, the
new coupon bonds which yon about to issue should
rank amongst the most favored public securities OF the
country both at home and abroad
With the assurance that shall esteem as favor the
communication of such facts you may deem pertinent
to the subject. am, very truly, your obedent seyani,
1.-THE articles referred to the above letter here sub
joined.]
the National Intelieencer
VIRGINIA AND HER REsoURcEs.-For the information
of readers publish the interesting letter furnished
by the of the Census Bureau of the Uni
ted States These candid statistics, founded on official
returns which the act Of Congress requires, will
vince all who read them that the power and resources OF
this noble Commonwealth are very great
Census OFFICE, Washington, May g. 1851.
"SIR: In reply your letter may state that, although
not prepared furnish exact detailed statement of the
value OF the real estate and personal property in the State
of Virginia. the returns have been examined sufficiently
to stating that the value OF the real estate
may be put at S27S.OOO,0OO
Value OF slaves l47,0OOOOO
Other personal estate l05, 900 900
S53O,000 900
THAT there is this amount of wealth in the State OF
Virginia have no doubt and The official result, when
fully obtained, II 1t from the above, will exceed
rather than fall short Estimates have lately been made
placing the amount $500. 900 900, which think too
great. arising from too frequent recaptulaon of the
same capital in different hands-a kind OF estimate
explain the fallacy of which would require more time
than can spare, and which TO you would be unne-
cessary and superffuous.
"Very respectfully, your obedient servant,
JOSEPH c. G. KENNEDY,
" Superintendent Census.
al Hon. WIN. SELDEH"
Whilst this subject, II may be well to report the sub
stance OF other statistics lately furnished by the
functionares of Virginia. showing the debt, Liabilities,
and resources OF that Common wealth
The Official statement lately made to Virginia by her
able second auditor, Mr.. Brown, shows that
On the 30h September as the public debt of the State
held by individuals and private companies was
OF this debt there is held in
Great Britain 81, 1856, 9S9 90
In France and Germany 36S 300 90
Total in Europe 2,73s,2 90
In Virginia 1851 ,46l 10
In / 2Q