New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-11

NpntcNcI otutT Cuol gee mo. NC ufStu esaluN
Gov. Wise, at al events he cau1Ot be accused Of
sighting his GubernstOIjsl duties. Instead Of
sirgle message, he mas opened the session of sae
State Legislature by sending n three messages.
The fret Of these documents principally employed
in explaining and yIdiostiug the 'urse which the
Governor adopted under the existing monetary
pressure and bank suspension as t. the collection
of taxes and the custody Of the public money.
interviewer, however, with these personal OK plaza
tons is dissertation on banking in general, With
sugst s.ious as TO Virginia banking in particular,
and tue improvements Of which it stands IN need.
This document is Of peculiar interest at this present
time % tending to throw q certain degree f light
upon the course which, under eIistiCg crcum.
stsnces the leaders Of the Democratic party may be
inclined to adopt toward the banks and in relation
to the currency generally.
Gov. Wise shows very little disposition to
engage in an anti bark crusade, at least not with
the banks at home Toward the banks of our CIT,
his feelings are not quite 20 smisble. The cen
trszstion Of trade, and Of banking Along win it,
in the City Of New York sticks terribly n his crop.
1t wss, he tells the good people of Virginia, q
strange delusion TO imagine that 10 crushing the
Bail Of the United States We were Riding our
,elve forever Of money monsters. Have not 70 y
"city banks of New-York," be asks, "now al.
"most the same control, and specializing Ard con.
tracing and expanding power over finance aud
"currercy which the Babk Of the United States
"wss wont to WELD Z" He even complains that
the Independent Treasury" Of the Federal Gov
eminent, the adoption of which i, so warmly urged
upon the States BY Lord Treasurer Cobb, ha, be-
come in fact but a sort of tender to lie NeS-York
bsrks-a paper-money convenience. What he
alleges upon this point deserves to be pondered well
by taO,e who imagine that the suppression of bank
notes would have any other result than tie substi-
tuition for them of Government paper, which night,
perhaps be still more liable than bank notes 70 the
epidemic disorder Of bee ming rrsdeemsble. The
idea that under the Independent Tnea,ury yssen
the United States pays its debts in specie it, accord
ing to Gov. Wise delusion, 90 far q, Virginia 10
concerned. As two.thirds OF the revenue Of the
United States is received at New. York so by the sd
Of drafts on its repositories there which the Govern
ment is authorized to sell at psr, the dsburae uen.s
are, in effect, made there also. ga draft or New
"IOIk for expenditure, here il Richmond Gan be
"sold at premiums and instead Of bringing specie
here to add to basis by circulating the am our,
disbur,ed in specie, the United States Govern
- n ent turns broker, cells the draft draws pre-
"mium to the Treasury at Washington, draws
"specie from our bank, hinder, our local accom-.
mCdsions pro tahtO, aid ths draft goss to
Now. York, ard draws and e1pends the specie
"ttere. Thus by the powers Of receipts and ex
"pendituIss both, tie banks of the com nercia,
center, powerful enough already, are made ore
powerful still; every thing centrslizes in them,
"aId they can put the whole dependencies Of
trade at their mercy st any moment 9her il nay
be tleir interest to pull the ~i:es Of contraction
or expsnsien." "In respect TO danger aud DIS
"sstsr, in what does Ills difsI fron e ass pa.
monster
One Of the re medies which the Gc7er,o, Pro-
po,es fer this state OF thirg, 10 TO repeal the psSes
of the ditburspg ofhcef' to ,e. drafts on the &c
positor.e,. Bat what would be he result CT that
1t N sht operate II he ;,jury Of New YORK., but
we DO 40! see that il wo1i much benefit Rich
nOti The o., siscs would b. shat he specie