Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1854-12-25

In accordance with our usual custom no paper vii
DO issued from the Wing Office the morning ATE
Christmas day. Our country paper for Tuesday vii
be issued to-day.
We advertcd, in our Fridays issue, to the OK snl
distu bed state Of the monetary aud commercial al
fairs Of tho country. The subject is prolific one
and cannot be disposed of in summary manner
nor should it be met in spirit Of cavling casustry
We regard the principles involved in this weight
subjoct.matter oil too vast importance and by ia
too vital in their practical bearings on the govern
ment and the governed-to no considered in lgh
and partizan view. Tho present crisis is too mpor
portant-too rcsl-too portentous to admit of mer
temporary and one sided suggestions. So at least W
regard it, and shall continue to treat it.
In considering, however, this subject, we do TO
mean TO assume tho professors position, and induls
in the theorctc 81 cculations the moocd questions
Of political economy. We aim at a practical consid
Grafton of practical subject with the view Of pro
ducng practical results. We desire, as far as W,
can, to remedy the evils and prevent their further
progress.
We expressed tho opinion that the present condi-
tion things mainly ibutabcto the spirit Of e
gsaton which had of late years characterized the law
making departments Of our country. In this think
We cannot be nisaEen and for the following reas ms
The currency is the life blood of commerce, com
merce is the source Of general and agricultural pros
p!riiy. There can DC no question, that currency Is
the creature OF legislation be 1t derives its
existence and is controlled in its circulation and Va p
idity by legislation. As the law directs 80 the
rency cIists-as to its s0unaHtsS and raldHy As
the laws Of trade direct, rather dendd the
rency iuciuateS, and by its regular Jw supplies the
current demands of tradc-or is drawn oil in undue
proportions INTO improper unnecessary channels
The amount Of actual coin aud bullion has not
been diminished 1t exists some where, and in
form. Tnis is the basis OF paper issuvs-and Their
issues arc the source aud substance of commercial.
operations Now, II the precious metal are no, ,ii
minshcd,we ask why they now III their proper
place. forming the basis of guar healthy continued
credit system equal to the demand OF trade. Why
are the banks found TO curta-he State treaSur,
snpty-the ordinary channels OF commerce dra,nel
individual and corporate enterprises embarrassed
and many Of them stoppedy
We answer, that had II julicicus and provdent sys,
ten Of legislation characterized the deliberations O!
Congress and the State l. gisia,ures this state D!
things could not have existed. Existing facts prove
this. We find the Federal Treasury oveiil,wiur-
literally weighed do.n with the precious ,astIL,-
while the Safe Treasures and Sta,e Banks are .,:,;
ty The snb-trcasurv system horis this vast amour,
Of gold and silver, Withdrawn IRON commemorate.
MEL the people While it is the price Of their cn.Jar-
yaments. For it is the duties paid Oh the excessive
imporiati0ns which have drained the private CAPT
tai Of the importers and their dealers from every
part Of the country, and drawn it to England and
Europe Here, then, by the operation of law, the
duty portion Of the demands Of trade are locked M
IN tho Golfer. of the Federal government the orsi-
nal price or purchase portion is drawn from the coun
try sent abrol !, aud bon are thus dirsrteI from the
shinRcs Of home trpic. This seems 10 Us TO be too
obvious TO nee Comment
We here find the spirit OF legislation in this cnun.
try not only at with the uniform laws of trade.
but so shaped as to render the extravagant and un
due imporationS, which Jcci the Federal Treasury
the source Of State and individual deficit The very
fat, that the Federal treasury is fall to ovcrowIng
OF the precious metils-impost dltics, &C., s., is
the index gage, which denotes corresponding de
pletion in the conmunity. The People exporting
s3ecie-the government hoarlng it, Hence the great
source o! com ncrcsI prosperity and individual enter.
prise-mu:ua confidence general faith and rccipro-
made 4 sad fact by failure Tomorrow. This Ina =,
proiucei an universal srus', and the result is the
painful conit'In OF things a they exist. Cln
we then be mistaken n the p7inon we have express
ed-that to the Legislation OF the country is to b., a,
tribute1 the prcseit crisis
But 1t my be urged that the government is AMI
should he separate in its operations from the pco-
pie. We will g 'ant this, for the present. without nd
hitting the truth Of the pDSiua;c then recnr.
the important lucs,ion-Shy iSlthe S.l,e RI yirgia
IA at this time hampcrcd-hcr system Of InternaI
Improve nentS arrested her bonds Eli.1-her tr.,
snry enptS-ind hcr peopl. left in the dark as 1,
tho actual IN iltipn Of her Transactions u very
large amour, with a broken concern-S.ldsn i
Withers? Why are her resources not. as they
should be- and you'll be, if the will Of her people
prevallel-osyood suspicion, and her bond, atoy.
parf Lcta Democratic L,ssllture AMI Democ.a.
tic government answer.
! r0un PARTY ~ vIRoryIA-we are d,ilv s.t.l xh,,
sour our party will nd p. in the coming contest in N,
oid Dominion We mus: answer accordjn, to tho inf
nation given US 10 the pfcnes.
FROM all our numerous correspondents in tba, S,,,e
We receive the same glad things TINT thav int.nd ~,
nomn.te and support ticket com jos.d Ily Of man,
Ders OF our party leaving hose 0utsd. of the o,y,i,
nOS 20 ,SPp1ft such eau! date. az ,er judgment d
V"a' o'her course c'uld our pIiiy sIiely pur
soe. Ioe communication pifiy have selected as tb,ir
candidates tbose WHO openly oppose our Doctrines
Must o. friend. meet II G is.ucs ,,nJctcd ,b
may be answered tbt the Wing parry will prob ,hIy
Hses, candidate, more acceptable 10 our ffIepd. Ri
uot 1e ia'ai TO our ulunsto success II we were
esopt the Wbig noninaiunsS UuorIy and ir,.t,iov
ms 10 our ju1gm,n,. II our parry should pertni,
nc MiDg' TO seest cahdijl,c. for them IL rould mo a
xaasop Of ihe charge, 50 often repeated and go
1Hftknbs. r' '"' "Hs parry
LktES sSotds1y sgree with friends 10 Virginia who
ths purpose TO make independent nuininstons,
~ @pufs' would no suicidal, obviously .o.r
". 80 ~ above from the Anerican Organ puh