Daily Richmond Whig. [volume] (Richmond, Va.) 1861-1862, 1861-10-05

DO more towards supplying circulating medium than te
Government do. Money was certainly very soulu'
10 the South before this commsnoed. oat s'aP.e
commodities found ready and profitable markets, and IN
us ~ in every shape yielded abundant returns fFos
peri.y and plenty abounded throughout the anu.--
Whs' then has become OF tie money! Tue answer
must be- that is still mere, or by lar ne gresr part pt
its. We know n has rot been sent or to any consde-
rabie extent Bat still it has dsappeereti mas been
withdrawn from its usual channels of calculation, and
wny Is it sog Manfestly il is because cophie In
credi. has been paralJEsd honeyed institutions and
money holders have concluded that money car
not now be safely put into circulation, although the real
basis of credit is destroyed but its activity but
temporarily suspeudsd Perhaps few sordd msers
are holding their money merely for the love of IT, or for
the snoble purpose Of enrchng themselves from inc
e.amies of others Il is hoped however that butfew
are actuIted by such miserly motives. 80
We uannOt with certainty arrive At the actual amoant
Of spsce ia the Confederate States, but il IL BELIEVED 10
be rot lss than eighty and probably not more than
hundred millions Of dClars The most of this Is in the
btks and il is 70 be licked up, then it Is useless both
10 the Government and the peoTla. How IS this 5.
capital to he made ayable aud useful in aiding the Go
vsrumsn? The FIRST st is the suspension OF the banks
Perhaps most Of them have already adopted this mani
fssy wise policy and those which have not must do so,
and the veral States in which they are located must
/ g1hz' the suspension But suspension alone will do
bus Ette expansion OF circulation equally Necessary
Suspension under such circumstances Will not dtp,Ccise
the value of their notes but they would circulate free
redcewsble in specie Toe specie then in the couu-
t-y viii eo,sttnte bas for sound creulAiug medium
OF between two and .hree hundred millions Of dollars =
To this sIeat may the banks safely go for il is pei
fscy certain that When peace il restored business of ell
descriptions ~il Immediately revive, and the banks will
not be called on for specie to any eorsd 'rabe extent
1. il only in anticipation Of monetary pressure that
runs made on the banks, but never when oSe has
Just passed
L.. il be supposed then, that two hundred millions
will b. rCqur,d be paid in annually 20 carry on
the var rhsTs It may rqpire greater sum, still the
money lis equivalent as circulating medium, - IL
toe country Blu in the absenos Of any market for the
products Of the country how the psoEe TO raise tito
paw their taxes and for the purchase Of the nectsslrs
Glitter A general rule good credit aud remuneta-
i've interest will opsa he mOrey vaults and as The gov
ernment depend upon the people for is resources
Il is deeply interested in sustaining their credit, especially
the credit Of the pllnug clsseg Bat sense Ct pari-
on must also yeisilueUce and operate as the mos
powerful Indictment Ia this crs Every one must see
and feel that struggle IA goiag in the SUCCESS Of
which il involved On'y his political liberty but his
yhts Of properly also This war IS for the rights OF
sDule aud lis burheus must borne by then. II we
fail shall 70 be free people, aud our property,
under one prcfext Other, will be taken from US FER
hap4 shall b. robbed OF the whole Of it, but az least:
snail be forced paw the that vctors may eN-
mend IN subugaing us must keep theimporact truth
constantly before "a that all is slsked on the issue;
i isa war in which mist succeed eos what it may.
Every one is therefore, deeply and personally Interested
in the result Toe nan Who has mouey IS personally In
te-es.ed 10 leudug il biz ueighhor on good Ultimate
sscury H receives O. Is the interest, but h. d.
RVS an additional he eff from tse aid gives the Gov
sFnmeut aud il Is moreover, patriotic use OF IT, Tue
backs are vitality Interested 10 aiding the people to sup
por. ths GJvcrunent tner very existence depends On
our suc,es3 II we e. the specie 10 their s will be
the mos, coveted object Of the victcrs In lid OF such
p1ley creditors mus: iOrbear for lime by common
consent They must not, clnuo, expect their dtbsors
% full engagements mada under prosperous eond-
tcl OF the resources OF the county And the petps
OF al elsssg aod o. all vocaiOs mes. be content Nth
stationary condition Iti no time TO be Cx &C rg or 10
exec: pscgliary gain from any article OF traffic We
must Al feel that IL Is nov our highes; duty 10 ard and
sustain each other.
Bu- TIE circulating medium mus. Of necessity great
Is exceed the amount b. contributed TO the support
government TIC supply may be augmented 20 an amount
sg lent for present necessary purposes by means OF
u-,aucts Of the country To this cad let the Govern
uen bug the cotton crop or such proportion as may be
thought Necessary, say az ten cents per pound, paying
tor in treasury which would circulate the more
rsldly bPiag Issued in payment Of article Which
would ultimately insure their redemption. When mar
kst shall be opsued the government can sell the cotton
re,dv and being 50 large holder msy, 20 ne extent
control tie uarsepsnd realize pcc6 Us purchase.
Bu; surposs there should be loss it. who would
um.t.v sustain that loss? Toe taxpayers OF course
deficiency would be ade up by the trxng power Of
the Goverumera T5.1 gec.s % be a sure aud simpli
plr: 10 implicated uaehilery will be requisite in is
a,c7npi "a ne1t. The Government cen IS ab!sh age,
cits In srv csv p'g. 70 wbCA Co.oa l. sent FOR ship
nent and the c)01i anon merchant whom the cOg.oi
ia ssrt car sell 10 t5s Government Instead Of {, ndi
yiiusls Of! the Government should 20: like 20
ula,a 30 srEs Qulutitylr seaport: agencies may be
established a. sIaHis pCil's throughout the country
aud The cost to the government cluUo, greatly exceed
the commission "a by individual purchasers
Tae purchase OF the cotton in this way is certainly
far better for the PLANTER than the produces loan
10 be paid for IA Conej bordI which are not ke
~ L, be,on circulating medium, and it is better
TO- the government Neither Ihs painter nor the gov.
eramsnt can derive any present benefit from the loan
syten; its ,Asc; uuss 90 10 create dead capital TIE
y,.sruent csnuot sell the cotton if the blockade con
tuuzs nor can money be borrowed on il aud brought
ia;o tho county; the planter money the
hon "a whcn be iyss for t uader the loan system
Asa permanent Investment the bonds would be both
safe AID prof able but the country Is not generally in
condition 70 allow Of such Investments The planters,
or by fer the greater part OF thcm want active
thew are in situation 70 place their capital in dor
IN ant condition They have SUBSCRIBED ioerally, is
tru, 70 this Loan but in many instances their credit
d,u5. will be crippled By the operation. II some ia.
stances l. il be feared that subscriptions to the Ian
have been obtained under OF moral duress, which
was certainly not Intended By the government. Ard.
censure may have fIllen OF some planters who
really not in condition SUBSCRIBE their crops beug
already peiysd aud the redemption Of the pledge beg
iniiplslhis % the future credit which alone they
depend l. may reasonably be expected thai the amount
delivered viii fan short OF tde amount subscribed. But
b. tbs i may il Il not scheme suited % the condi
ton and present emsrgeueies Of hec0uutry. Besides
all this, the government will fad great dissatfsctoa
gowug GU. OF is operations selling agent, which
vii NOT occur the cotton is purchased at fixed price
These Fuggcs-0lf may resul. from mistaken view Ol
this m9or.Rut subject bu; they submit,ed4or What
they are WORT. W. l. SHARKAT. -.
DEAra OF VkrERAS-Ar. Samuel PdnDeI, Of Green
HILL Campbell county, departed this life at his residence,
on ths 20 ulimO in the ninety fourth year OF bis age.
Toe deceased fer many years before his death
OF the most prominent citizens OF that county He has
4 q I'D -ngE II,
big and extensively known for his good sensc, sterling
integrity and moral honesty. In this community he
leaves rtiyes and friends who and deplore his
loss even in the ripe age when his hour Of dissolution
larger crl Of friends who deeply and moso
extensively dspose the doom to which be f.la
victim. For long series Of years previous 10 his de
m Sc he had scarcely kncwn hour OF sickness. Ard