Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1856-03-26
vdRG1NIA CREDIT, &C..
-, Fi,o Ohio I.aVisiatIre. on

The action of the Ohio Legislature on q re-
cent occasion, shows, with great distiuctncss,
III what light the financial condition and abili5
ty.iTad4 heenergy Of ourpeoPle, are viewed By
oy,r neighboTing State As far asthat action re-
fleets upon the ability, Of Virginia to pay her
lebts. and the natural resources ofour State,
and the energy Of our citizens, We most elr'-
phaticsiiy Eepudiateit. With kind soil and 3
genial climate, with coal, iron and limestone in
abundance, anda liberal deposit those precious
metals the possession of which, at this day, is
esteemed a. honorable, accompanied By citi-
zer,sllir occupying a high position in the scale
Of civilization by energy of character and edri-
cation, Virgins stand first in the confederation
of States in point of natural wealth, and in poo
Itticsi infnsnceand love Of country, second to no
State in the world
fsisnot 10 be denied, that the great resources
Of our State are, in the most favored localities
but-psrtially developed, while in other local.
t;ss the great mineral wealth lies untouched in
its native beds. The attention Otour citizens is
DoWi6eflg more particularly directed to this
subicet as a means cfopening up sources Of en-
tsrprise, yielding liberal reward for invest
,nents Of capital and labor Of individuals, and
a. enhancing the general wealth and prosperity
ofour State. The great drawback heretofore
and nogy, has been and is the absence OF rail-
roads and canals traSersing these rich mineral
districts, and affording an easy, cheap and ex-
peditious mode of transportation to the best
markets of our own and neighboring States
The State, approaching the benefits arising
from judiciouSiy constructed Improvements, and
knowing and feeling the evils growing out OF
their absence, stepped forward and gave such
ala ON the three fifths principle, as was ncces-
sary to encourage the undertaking and compile
ton Of certain srcatlines of improvement. 1t
WAS her duty, as the parent Of all we arc and
have. to do so She was able to extend such
aid, without the fear of Gripping her financial
condition; and as to the idea of reputation, no
man in Virginia, having the least regard for the
respect Of his fellow-citizens, would scarcely
contemplate, much less advocate, a doctrine SO
repuisive to the feelings Ofall honorable mon.
While We never asked the State of Ohio to
rseeiys the bonds Of Virginia, as a basis. on
which TO place her banking system, we are dis
nosed to DISPUTE the sonndness Of the financial
reasoning that rejected them. We dodeny that
Virginia il rapidly destroying her credit, and is
accommodating debts that will ultimately bring
her 70 bankruptcy. The State Of Ohio encour-
aged internal improvements on the same princi-
pie as that now pursued by Virginia, and it is
NOT to bo presumed that we have not as able
commanders to steer safely the ship of State, as
our neighbor ever the river has.
The following fromthe Ohio State journal ex-
plains the action of the Ohio Legislature, to
which We have alluded:
VrRctNtA SrocES-To show the estimation
which the business men of Ohio place upon the
financial position and ability of Virginia, we
win state = single fact. A bill has passed the
Senate of Ohio, allowing the independent banks
that SECURE their circulation by n deposit OF
State stocks to deposit 90 per cent OF the a
mount so required in tho stocks OF certain otner
States enumerated, and undcr proper restrictions.
When the bill was originally reported, the list
embraced Virginia. But when the subject was
considered in committee of the Whole, the old
Dominion was stricken out, and the stocks Of 1t
are not to be portion of the basis of security.
To show that this isn0 whl. becauscitIS slave
State the bill authorizes the use OF the stocks
Of Kentucky and Maryland;
Il is useless to deny the fact that two great
States are rapidly destroying their credit aud are
accumulating debts which will ultimately bring
them to bankruptcy. Virginia and Missouri
have Wadel to a knowledge of the fact that rail.
roads are essential to the prosperity of States.
They have not the capital and energy among
their citizens to do the necessary work. They
ask the States to embark in the great enterprise.
They have done so, and vast public debt, with
little progress in roads is the result Both States
are destined TO see trouble, and that before ma
= ny years
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