Kanawha Valley star. [volume] (Charleston, Va. [W. Va.]) 1856-1861, 1857-05-12
IL KANAWHAzG IL IT. VIRGINIA. -TTTFSDAY NAV /

D! ia
benefits which may be conferred upon
t he States by the adoption Of this
MEASURE. =
III Mr.! Calhoun said !:
Il regarded II then and still do. as
simply . dcposite. But while I re-
garded It as q deposite / did then and
now DO believe tbatfit should never be
withdrawn butt in the event Of wa.
When il Wollld be found valuable
resource. The surplus was not law
fully collected. Congress had no
right to take a cent from the people
but for the just and constitutional
wants ofthe country. I'd take more,
or for other purposes is neither more
nor less than robbing brecriIninal
tor being perpetIated BY a trustee ap-
pointed to guard their interest. 1t in
fact belonged To those from whom ii
was uniustly plundered ;;Hand if the
individual and the share of each,
could have been ascertained lit ought,
upon every principle Of Justice, to
have been returned to them. But as
that was impossible, the nearest prac-
tlcablc approach To- justice was. to re-
turn it propertionately IL TIE States
as q dePosito till wanted for the ,use
of the people from whomfit was {un-
justly taken, instead ofleaying.it with
the Banks forthe benefit Eof Ispeculat
tors and stock iobbers. 50 far from
this (being Distribution the Opposite
act, Whether viewed i'll the causes
which led to it, or its object and effects,
stands in direct contrast with it.
Sd vol. p. 5S1..
IL On TIE Goth Of December 1886,
Virginia passed an act declaring her
willingness to accept her proportion
ofthe Deposites, and III the preamble
of that act, expressed the following
sound and Just opinions. R VI
THAT while. tile General Assembly
regard any systemIof taxation by the
Federal Governments producing more
revenue than is necessary fol- the
wants of]the Government econor1i-
cally administered ,fas in{politic and
unjust and denies the TIGHT Of the
Congress of the Unitea States 10
raise revqnaeffar We purpose tof de-
posite or distribution amongst the
States. Nevertheless believing the
surplus nloneySin tho Treasury To-
have arisen under extraordinary cir
cunstances, not likely TO continue,
and considering the provisions Of
said act, to be a temporary expedient
to relieve a redundant Treasury and
being willing in good faith under
such circumstances, to receive the
proportion Of said surplus proposed
to be deposited with tile State Of Viz
ginia- therefore be It'll enacted, &C.
AT this period the trade and indus:
fry, Of four State was suffering mate
ffafly from a deficiency Hof Banking
Capital. The General Assembly
therefore increased tile capital of the
existing Banks $4,000, 600 -reser-
wing to herself a riaht7to subscribe
one meiety Of the increase, and in
vesting 81, oOo, 900 ofthb amount re-
feiyed fronfthe Federal Government
infthe capital stock of Her Banks.
This deposite. We have had. for near
81 years without: accountability for al
dollaisofinterest, We have never been
called supon to- refund auy part of It'll
TO the Federal Government and
our State Treasury has lin the form.
Of RaHk taxes and dividends realized
from that Deposite neafz .fo,4r. MILL
Ions Qf dollars which have been ap-
Piled TO relieve the farmer and me
shanicI from the payment of=sofmuch
taxes, which otherwise must have
been assessed upon his lands and
abor. Since that DepoBite has been
made with the. States we have had a |
oreign war we have aided by pur-
,hase almost an empire to our former
;erritory Incurred. ana1 nearly paid
Ma debt ofSlOo, 00O, 900. and Jet no
demand has been made Eby the Fed |
,raf Government upon die State for /
my portion of its funds. row in their
custody Isl. A
It may beIaskedifthe Federal Cow
srnmelt dogs not exercise its right
this money, what snbstan-
ial difference is there between Dis
ribution and a Depositd2 The diff 4
erence is3vital both in the power as |
serted, and III the practical operation
,fthe principles involved Congress
nay deposite-it cannot constitu-
ionally distribute. Again. ,Distri-
jutiol as proposed is to be m act Of |
annual recnrrence-a fixed and es-
policy causing an habitual
of the States upon thel
federal Government for their. annuii-
les stimulating them 10 eytrava-
rance lty an absence Of all response
,ilitvfor it's return, and creating a
nrplus fortiie mere purpose of Dis
ribution. Whilst a Deposite, 50 far
IS ithas ever been countenanced byH
ny respectable Statesman in this
;Qantry, can onlytbe Of rare occur
dsace- growing ont of an nnforeseenI
md unexpected condition of the II