Star of the Kanawha Valley. [volume] (Buffalo, Va. [W. Va.]) 1855-1856, 1855-12-19

IN Effort Il improvement, and how shall
hat Improvement Be effeetedi ! am not
preparing TO urge an immediate radical
.change 10 our system Of currency, be-
!ieving As / do that all sudden changes in
monetary affairs tend TO derange the gene
al laws of trade, and unsettle the bust
ness arrangements of the country; and
therefore, any attempt at change should
be by a cautious process; yet, if ,eifec-
ed at all, it must have q commencement,
and probably there viii never be a more
.propitious time than the present to enter
Upon such change. sa .S~ .~#
The infnx ofgold and silver from Cal
ifornia, Australia and elsewhere. is with
out parallel in the monetary history Of any
country, and proffersa corrective, which
if rejected, will entail upon our people a
currency upon which they cannot and
onght not rely. But should the legisla-
ture dissent from these views, and proceed
to reorganize the banking system, either
upon the old plan of a mother bank with
branches, or that of independent banks
based upon State securities, respectfully
suggest the following changes or amend
ments to any now in force, or hereafter to
be granted: That all notes in circulation
be made payable at the counter Of the
bank from which they are issued; that
each stakeholder be held personally La
bic for the debts Of the corporation to the
amount of his or her stock respectively.
/ also recommend the prohibition of the
issue or circulation, after aspecifed time,
of any bank note Of less denomination
than ten dollars. BY making the meas
ure prospective, gold and silver will spec
Oily supply the vacuum caused by the
Withdrawal ofthe prohibited bills. Like
the act Of the lat session, TO prevent the
circulation of notes under five dollars,
the wholesome chan ge will be speadily
and impereeptibly effected; and thus, by
a wise and gradual process, notes Of a
highergrade may be excluded, until, at no
distantday the country will have the bene-
fit Of sound constitutional currency, suf-
ficient for all ordinary dealings, and sure
basis upon which to found bank issues
and paper currency ola higher grade,
should the wants Of the community de-
mand it. The adoption of these sugges-
tons would, it is believed greatly improve
our monetary system. especially if sane
toned and practiced by fneighboring
States, several Of whom have strongly
indicated . preference for some similar
policy. - ~. l. -
In this connection, /, beg leave to call
your attention to the repeal Of all laws on
the subject Of usury, subject which has
recently attracted public notice in this and
the adjoining States. However necessa-
ry restrictive measures Of this character
may have been in former times, there is
obviously a strong prejudic ice against them
at present. All experien nee has shown
that every effort to keep down the rate Of
interest by Legislative attachments, has
proved abortive; and failed to accompli4h
the end. That the price Of money, like
every other commodity in the market,
will be regulated by demand aud supply.
and thattany laws intended to control il
are constantly violated, evaded or disrc-
garded, the tendency being % demoralize
society, by inducing an habitual disre.
gard Of the laws Of. the State. 1t is more
oyer confidently believed that the laws
now in force, tend to increase rather than
the rate Of interest paid, and
operates TO the prejudices Of the borrow.
ers, who are generally the m pre- needy
class, and whose interests were intended
to be guarded. And indeed it is difficult to
understand why the liberty Of the citizen
should be restricted in regard to moneyed
while he is deemed compe-
tent to the management and control of
other commodities in his possession
Without entering further into discussion
on the subject, ! would respectfully rec
ommend q repeal, or such notifications of
these laws as would leave the citizens free
to stipulats for such rate Of interest rs
may be agreed upon by the contracting
parties. ......-..... ,-H.I H.:
In my last annual message recon-
mended the purchase Of Mount Vernon by
the Commonwealth. should be insensl-
bic TO the pulsation Of the public heart,
as well as my own feelings, ii l tailed to
renew the proposition at this time. The
bare ullusion TO the tomb oil Washington,
with its hallowed shades and sacred relics,
awaked a feeling Of reverence and patriot.
ism in The American bosom, aaordlng un-
mislakable evidence that not only Ylrgi-
mia, but most, if not all, her sis.er States
plead with persuasive eloquence for the
rescue ofa the sacred domicile from the
threatened danger Of DISSERTATION dan ruin.
The accompanying correspondence on
the subject is respectfully submitted. I
The amount claimed by the proprietor
may DO considered exhorbitant, In the
ordinary transaction Of business, might
BIZ true; who shall undertake Ito calculate
the value Of the homestead and the grave
OF Washington, with igs pilmeyal sim.
pliciGy, Or 70 place an estimate upon the
thousand sacred recolleetions which
crowd the MUD aud cluster around the
heart, in token Of admiration lor him
whom all delight to honor. Dollars be-
come dust when compared with the ines
PATRIOTISM inspired by aylslt 10
the tomb. Thousands will repair 70 This
American Mecca 10 pay homage Y the
illustrious dead. Butnowever ready you
may be " purchase and pay for tnls
that honor has Deem partially
from you, and is reseryeu for the