The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1855-01-06
THE DAILY DISPATCH
sATURDAY MORNlN0. 5ANuARY 6 1885.

II =
- SATURDAY AokNiN0s 5ANuARY 1855
vIRotsIA AID HKR FlxAxcIaL AdEsrs IN
WAsnlxGroN Yesterday' Examiner has n
long article relating to the contracts with
Selden. Withers ( Co. for the sale Of Virginia
Bonds, sndi exculpation Of Governor Floyd
and The Old Board Of Public Works from
censure, for their transactions with s. w. 4
Co. The Examiner states that in 1881, in
consequence of the slow sale of State Bonds
and the large demand for money for internal
improvements. it was deemed necessary to
make some movement to increase the sales
more rapidly than it argues could be done by
sales At the capitol. A contract was made
with Seldep, Withers q Co. for the sale of
q 0oo. 900 of bonds at q per cent. premium.
The agents were to have all they could get
over that. but no compensation If they could
cell for only that premium The Examiner
contends that the motive of the agents, un-
der the contract, being to get as much as pos
ssiblefor the bonds. measures were taken with
that view. and Virginia bonds went up to
ella. Afterwards the agents made another
purchase 1.-THE Examiner calls i'll of 81 100000
of bonds at 8 per cent. premium. But In the
interval between these purchases the con-
tract had been attacked in the Legislature,
and proposition introduced to require secu
srity from s., W. & Co. This was rejected,
says that paper, on the ground that as s I,
w. & Co. had been always in advance to the
State it would be simply. absurd to require
them to give security. .z-es ess-.ss
This movement in the Legislature, the Ex-
aminer regards the direful spring of all the
woes to our Stale stock and the ultimate EN-
barrassment with s., w. & Co. 1t contends
that distrust was first exerted-that the new
Board of Public Works, alarmed at the rigid
elamor which had been raised in the Legis
lature, determined to alter the original con-
tract and made another by which they placed
in the hands of s., w. & Co. the bonds of the
State which they were to sell for fixed COM
pensstion, for what they would bring. The
motive to run up prices being done away
with, the Examiner thinksthe agents made no
efforts to keep them up. Indeed it contends
that the contract offered direct bounty to
un1crupulous brokers (which it thinks "he
members Of The ser agency prored Themselves
tob9 to run down the stocks.
The Examiner although generating the
motives of the new Board of Public Works,
intimates that it was unwise in them to make
new contract with the same firm; and it
expresses doubt whether another contract
would have been made with it by the old
bosrd, as it believes they would have follow
ed the policy that it is best for safety and Sc
curity to have frequent changes of agents,
and that it was best to employ new brooms
as they sweep clean in financial as well as
family matters.
This is the gist of the Examiners expiana-
tions of the stock transactions. 1t is exceed
ingly bitter upon the Legislature of 52--'3.
We suppose these discussions will likely
bring out something like an authentic and
documentary history of the Inflated transac
lions with the illfated house of Selden,
Withers & Co.
The late news from the seat of war does
not improve the aspect of affairs much. The
Russians, instead of being injured by the
siepe, have mounted one hundred guns addi-
tional, and, in all pro liability, have fresh sup
plies of men and provisions. 1t is said that
the English have established a new battery
in position which will command every house
in Sebastopol; but this, if true, which is
doubtful, will have no effectupon the military
operations. There is gloomy winter before
the allies.
Russia, it appears, is amply prepared to
meet Austria either as an enemy or friend
Immense bodies Of troops are concentrated
in Poland and everywhere on the Austrian
frontier 1t is stated that no less than seven
teen Russian generals of rank were assem-
bled, ut the last accounts, at Warsaw, under
the command of Prince Paskiewitch. The
Gar will no doubt have his agents in various
parts of Hungary. In case the Emperor of
Austria should forget the aid given him in the
Hungarian war, Nicholas will no doubt be
able to put matters in that country in the
position in which he found them, when called
in to sustain the tottering throne of Austria
MIssouRI-EMIGRANT NIRGINIANs.-Wc
have very many subscribers in distant States
who emigrated from this region of country,
and when they are making their remittances
for the Dispatch, (which they seem to be fond
of they are very sure to put in a word about
their strong attachments to old Virginia.
Their hearts still fondy turn to her. We
have before us letter from former citizen
of Richmond who, with several others from
thispart of the country, reside in the same vi
entity, in one of the most prosperous and
wealthy counties of the State of Missouri
He sends us club of subscribers. He takes
occasion to mention, that in consequence of
the drought out there, they will be hard pu,
to i. to provide for their cattle during the
Writer; but with economy he thinks there is
abundance of hog and hominy" for the
o sople. He resides within GO miles of Kansas,
and says, that although they are peaceable
set of folks, they are not going to set still and
see that country made free territory. He
concludes thus:
al sometimes thick viii pay old Richmond
visit II would afford me a great deal of pleasure