Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1852-06-18
l3,T2I.s3s 35

The gentleman has attempted to be facctons and Sc.
we're in his remarks the Finance Report estimating the
SUN to be paid by the Commonwealth i'll the next thirty
four years He and others have affected to be unable TO
assign motive for the estimate. know not that is ex
tremev important they should be convinced OF the pro-
priey of The procedure Those who are predetermined
10 censure may well indulge on this subject Those
disposed accord to the Report Just consideration VIII
find Justification in the provision of The Constitution,
which deyoves tho necessity OF providing Tor me
payment of the existing debt in thirty four years II 1.-THE
duty pay. ii would not be ninportant to determine
the amount to be paid The Constitution requires that The
enactment of the present session shall exercise an ipor
nnueure over Of the Treasury through
the long of hirtyour years But those who aspire
to extended reputation for wil and would limit
their observation the two OF our Legislative tci
The gentleman insists ha, if he could consent ":reat
this array of figures with seriousness might readily he
shown rather had been shown, that obvious offset
exists in the ANIMAL proceeds of productive stocks to
the amount of upwards Of S540000 which, being multi
piled BY 81 constitutes righful credit of Slc.6o 600"
1t where asserted in the report that the sum to be
paid in thry-fonr years TO be raised exclusively by
taxes-but the gentleman with fairness of remark cor.
responding with the accuracy OF his estimates. grounds
himself that assumption. He also refers to the annual
ordinary expenses Of government estimated in the ri
nance Report average Of S630G9) for the next t
years announcing his ability to expose an eXaggerato %:
:GUl4 1863 on the authority of the First Auditor who
puts these expenses S473l2 e. II is 10 be remarked
that for year designated by the gentleman the Auditor
has included no estimate for the support OF the General
Assembly IT, therefore the gentleman had attempted this
expose he would have excluded the entire expense OF the
Assembly through the long Of "a years hat cal
cula.ion would have been hcalded through the country
altogether and reliable; and 60 verify believe
il would have been approximation 10 accuracy
most of the estimates which he has usiercd on tins
House for the illumination of the country;
Ii has been made subject of complaint by several
gentlemen for whom entertain the kndest regards. that
have exhibited statement of the resources OF The
Commonwealth applicable 10 the payment OF the public
debt. They deem there such resources 0! winch
have taken no account. The gentleman from AibcEarlc
ral pflS
public mind He represents the report from the Com
nitIee U: Finance as yielding reluctantly 70 coh-
stTant I'm order to preserve the scha:icc OF harness
10 make ausion the actual productive stocks OF
the Commonwealth. which come III relief OF taxaon'-
lie insists thar every taNpaycr ever public creditor has
right to be informed interesting an enquiry read
il" yield to The force OF his suggestion and an prepared
10 follow Tim lruEg In. detail OF his caicl!aoi SIR
the gentleman cuvates his taste Tor figures and giving
scope 10 te vent OF his inclination, he presents us WITH
table. winch puts shame the formidable tables OF tie
Finuncc Report. He complains bitterly Of my cpl,crEg
especially Of my mu'tipcaiion-but he comes for.
ward with brilancy OF performance which altogether
throws in the shade. Wearicd Of ancient modes and
dsGaninc customary lnrns he resorts to new modes OF
mrutaicn and lays the world under an obligation Ter
profound discovery il the complicated science of com
Dnaon ard calcEiaicn The gentleman is resolved 10
reach the Indispensable result of 9MO01 r resources
applicable 70 tie payment Of tic public debt. W!, ,c aid
u fiscal officers he makes list OF all the productive
locks held !y tic State By the Stale corpoia:oa-!id
forming Them into line he contrlves 10 display nrahe
column and having ascertain the amount OF the col
nnn, he The ordinary rule of addition. and en-
boys his invention i'll the science OF arimc,ic-'hc rapid
process Of calculating the interest on each item OF thcco
Extending The interest oncacE ltcnhc iorils an IN
ercst column and adding that, ascertas the footing 10
De l5nC COO He then determines by arithniecal cac.
aton that iJ0GO0 al per cent per annni Is The inter
est 0G00000, and trighwny proc!ains that The re-
of the State applicable the payment OF nic pub.
lie debt equal TO $9000O00 Trnly has he displayed
a wonderful ingenuy-for venture to anfm there ~
no oihsr process OF arhmetica calculation winch can
inc
ocd 10 lasting gratitude. if he could only procure these
S'ooooo TO be appropriated 10 the patriotic uses OF his
country, But they never can be found. The money
Will ciade all search Inc calculation will shrink from the
touch of investigation like the sensitive plant under the
rough, rude hand Of man.
After all Mr.. Speaker. perhaps i'll degree
indebted the Second Auditor for this ideal S900pOO0
Heceralny gave such hint but il only hint he
never would have committed such bundcr as to aihrm
its actual existence The credit of the potential dlscovc.
was reserved for the member from Abemaro and his
compeer from the county of Augusta. AT page IS of
Second Auditors Report find, in aluson to the $780,
3e6 81 note in these words: wv hich is equivalent 10
per cent Se000.000." Here it is mere modest note.
without any mark of attention. At page 81 the modes,
note becomes bold. There is an index pointed as
the hand of the gentleman from Harrison, directing al
tenton 10 the significant words: The aggregate OF
S5io000 is equivalent TO interest of per cent on
$4,000 00. Here Financiers take up the snlJec
and deepen it, and harden it. and mould II into $4,000
| sertaSIe money! The gentleman from Albemarle as
ser's mat they rcal and ndsputac yearly resour-
ces representing capital of upwards OF S9oO00O0"
and that the State is prepared now or hereafter,
al any ume when the General Assembly shall will
| it. by sale of it, stocks. TO pay off, without
any resort to taxation. this large amount of IFS
debt AND nd further he actually makes application of
the OO0ou 10 what he describes as the whole debt and
reduces to s39sT es Ga Thus docs he raise to dash our
hopcs-for he Immediately carries debt 10 Sc S36
60 And sir neither he nor any other nancier can pav
with smaller than is stated in the repos, from the
Committee of Finance One may speak speak and in
duge In fancifu Illusions. but whenever the en,un
gives place to to the mind which is truly informed
the debt will loom in its ample proportions.
But let proceed TO this table Of resources which
enable any time without to taxes pay off
% COO 600 Sir repeat .tXould Il rSALn The gen