Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1852-10-18
A SINGLE FACT IN THE DEMOCRATIC
RULE IN VIRGINIA.

In the present days ofincreased and increasing
State taxes, and unproductve and languishing pub
lie improvements, it may not be wholly without
good results to ask what has been done with the
public monies, and how it happens that SO little
good has been secured from the very large debt
which has been incurred by the State, mostly for
the purposes of internal improvement. Among
other items which should be looked into by the
people before deciding on their future policy, IS
the Coupon bond negotiation, in which Gov.
Floyd figures conspicuously, and in which the
pocket of Virginia, pretty roughly handled.
and comes out minus. II will be remembered that
at the session of the Legislature in 1s50-5l, the
Legislature passed an act authorising heavy
loan, and directed the Board of Public Works to
negotiate the loan, and to issue coupon bonds
therefor. Under this authority, Gov. Floyd, as
President of the Board of Public Works.! entered
into an agreement with Seldom, Withers & Co., for
them to sell $4,000, 900, on this loan, and agreed
to let them sell the st million at par, and the other
three millions at two per cent above par, and the
said Seldom, Withers & Co., were to retain as
contingent compensation for their Services" all
they could get above that sum. The Gov. further
agreed to deposte to the credit of Seldom, Withers
& Co.. the interest the coupons, one month before
il ,cds due, in specie, in the banks at Richmond,
and the right asreserved to Seldom, Wthers Co.,
to be agents pay this interest. tSee Doc. No. &C,
Va. Lego ~ y,
Messrs. Seldom Withers& Co., we Learn, dispo-
sed of the first million at one hundred and five
dollars and pocket from the tax paying citizens of
Va, on this Million according to contract the neat
little sum OF $4,000. That portion of the remain
ing 80, OO0, 600, which sold, brought, Learn
Sl0s per hundred, and the stock is selling
higher so that even at that rate they will make on
the three millions, the additional sum OF $4,000,
and perhaps more, thus realizing the sum of $3.50,
600 off of Virginia tar payers, who are already
taxed to their eyes to supportthe expenses of the
State. But this is not all: Messrs Seldom, Withers
& Co., have the ofthe interest one month in ev-
cry year, and it must by the contract, be paid in
specie. The interest on four millions of dollars
per annum, is s240, 600, and the interest on that
sum for one month, which passes to the pocket OF
Seldom, Withers & Co., amounts to S12C0. The
bounds run from 80 to IS years, and at 80 years they
would receive for handling the interest," about the
sum ofS36, 0O0 making in all the sum of 1896 900,
which passes out of the pockets of the tax payers of
Va, and into the pockets ofSeldon, Withers & Co.,
without estimating the value above Sl09, per hun
dred, and the premium on the specie in which this
interest is to be paid, without stopping to enquire
into other such operations carried on by the Dem
ocratic rulers of Virginia, such as the Washington
Monument, &c. &C., We ask the the people of Viz
ginia, if they prepared to sanction such pro-
ceedings in their Government? '.fsIr Etsi -
We ask whether they want such administration,
and whether their tarss are not already high
enoughi And we would ask another question::
Whether the people of Virginia would not prefer
having the public lands so disposed of as that
Virginia, instead of being eaten to her vitals by
management such as we have referred to, would /.
receive more than one millions of money and thus
have it, in her power, to lquidate her present
debt, wipe out all her liabilities and give her an
immense surplus fund, with which TO develope her
mighty wealth. and scatter the blessings ofmprove-
nnent and uniyersai education broadcast over the
land, and in short time present to the world the
spectacle Of Virginia rising from the sleep of ages.
shaking off the lethargic stupor which SO long
has overshadowed her, dashing forth into the chan
Eel of progress and improvement; and, by educat-
ng all portions of her children, cast off the foul