Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-01-10
NUMBER ll9

increased more than 500, ,00O.0 in the
same time. Could such result have oo-
CURED if the operations of the various
State Governments had been conducted
upon the principles for which contend,
viz; the independent Treasury system. Ii
requires no prophet 10 ioretell the end Of
q system which exhibits such startling re-
suits.
Another objection urged is, thai the sys-
ten is not safe. Why not? Cannot the
treasurer of the State be as safely cutrust
Cd with the keeping and disbursement of
the public money as the officers of the
banks? They nre all respectable gentle
men and is there reason to suppose that
an officer of the State is less Trustworthy
than an officer of the bank? Experience.
however, is the safest guide in all such
cases Has not the experiment worked
well under tue Federal Government and
II II mas, have we reason to suppose that
the officers of our State government
Wonll oe less honest, less prompt, or less
t0lthtul in.cxecuting the lAW2 | trust not
The State of Mississippi has collected
ner revenue m slSecle since 1886. The
States of Arkansas, Texas and California
laye collected their revenue in specie also,
from the time of their organization us
States. The receipts into the treasury of
Mississippi from the lst day of January,
1881, to the 10th of February, 1852.
amounted to S4S2, ISIS o.. The revenue OF
Texas, for the year ending October 3lst,
1859, amounted to $l39,222 81 mud
ut that date she had a surplus in spe-
Gle in her treasury of $685., ,C5l 30. =
On the first OF October, 1850, Arkansas
bad in her treasury S203, ,9Gl O8. and re-
ceiyed from all sources, from the 3Oth
OF September 1850 to the the goth of Sep
tember, 1852, the sum of 1886, ,7G7 O3, una
king a total of $59O,73s IL. The receipts
of California, as estimated for the wear
ending Jnne lst. 1858, amounted to the
sum of S434,l5 These are the latest
returns that can conveniently refer to.
but they serve to illustrate my view; par
tcuiariy when it Is remembered that in the
| space of eight years, the amount of reye-
nue. collected in each of these States, with
theIr increasing wealth and population,
must have been greatly augmented. There
| IS no connection with Banks in either of
these States their revenue is collected in
specie, deposited in their treasures, in Gus
tOuy OF their own officers, aud disbursed
in specie by those officers, to the creditors
OF the government. In each of these
cases the independent treasury system has
worked as well as in the case of the Feo-
erNl Government.
The policy recommend has been tried
! by the National Government, the States of
Mississippi, Arkansas, Texas and CnliTor-
mia, and it has worked safely and to the
public satisfaction. This policy in time
OF suspension by the banks, such rs we
now have, would furnish sound and
healthy specie currency for all the ordina-
ry wants of business intercourse, and
would have powerful influence in re-
sTalnIng bank issues within legitimate
limits.
Ihe statistical facts that have present.
ed in support of my views, are tlrawu from
the most reliable and authentic sources.
They ale drawn from congressional and
other records, and have my entire conf
dencc in their accuracy. / commend the
subject to your consideration, assured that
its Importance will be fully appreciated,
aud that Whatever your acting may be,
it will be the result of your convictions of
what is due to the public interest
Events crowd upon each other with
astonishing rapidity. The scenes of to-
/ day are dissolved bY the DEVELOPMENTS of
to=norrow.s The opinions now entertained
/ may be totally rcvOlutionized by unfore-
seen and unauticipatcd occurrences that nm
hour or day may bring forward We
mnSt meet them as they arise, and our
opinions and actions must be controlled
by our Judgment of the requirements of
the occasion. Whatever duty to the State
demands. must lie done and to do it effect
unlly we must throw away all pride of
opinion and of consistency. While we
can have no idea of what the future will
develop, it is the part of wisdom to pre-
pare for the worst. In military point of
view, our State is perhaps better prepared
than any other, but to place her on u safe
footing, much remains to be done
That your action may besguided and
controlled by wisdom and patriotism; that
yStlr proceedings may be conducted in n
spirit of harmony and Cancellation; that
TIE honor, the rights and the institutions
of this Commonwealth may be vindicated,
protected aud preserved, md that our
common country may he relieved from the
horrors OF threatened anarchy and civil
strife, is my earnest wish.
JoHE LETCHER.
DISSOLuTTON