The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-01-08


the contract on his part.
Reform is greatly needed in this branch of ex-
ments Of ali the banks are required to be pub
'snea IN the ,S cry pap.Is ard at lars. annual
a. ss
ing sept 80 1859 their publication cost 81 6E SO.
and Tor the past year: 81 81 81 In addition, You
at heavy cost. No two Of them are made up in
the SAME way and it is utterly i'm possible there
returns which are sent to this department: re,
commend thai the 'aw recurring their publication
the law in force "a requires them to be published
BY the banks in the towns and cities in which they
law a: allow. saars of 81 100 sSt to The prn,er
of the Senate. be repealed The public printer re-
ceives no salary. and can conceive OF no reason
for allowing salary to the printer Of the Senate
Let him he paid fair and remuuerative price Tor
the printing he may be required to execute, and
that IS all he has night to ask or expect.
Under the law the public printer is paid com ,
mission OF ten per cent on the purchase of paper
Is wrong both IN principle and policy. II IS an en-
couregement to tho expenditure OF public money
| cJmmissions. temptation is thus held out con
stanty 70 this cflesI to expsnd as mpch az POSI-
even eve under the most favorable
Hold out no inducement to expend more than ans is
service In recommending that this clause Of the
law be repeaed, and that the public printer g re-
to tP IS
and just prices for his labor intend to cast
| Fiction upon that estimable and prompt offcer
THE PUBLIC JAILs.
in which cnrp,rstion court is held. shall provide
fed that many OF the jaiis in the State. if not alb,
| soIutely worthless. are certainly insecure and
applications to offer rewards for their arrest, ere
constantly coming IN to the Executive, and IN sev
eral cases in which rewards have been onered me
prisoner had been shortly thereafter arres'ed. II
the courts will not see that safe Ja'ls are PROVIDED
Insufic'ency of the jail, will not TAX the whole
State to insure their safe keeping.
PUBLIC BUILDINGS AND GROUNDS.
| / communicate herewith the report of the SUI
| perintendent- 1t presents truly the condition OF
| the several biIc buildings and The repairs ne
On the score Of economy, these repairs should be
made soon as practicable. The longer they are
qu uas The Recommendations made b tn faith
,ui and excellent public officer are deserving OF
ee ." t to
| and cordially endorse his recommendation.
FINANCE.
| The report of the Aud tor of Public Accounts
vii exh bit the financial condition of the State In
all its details to 1t refer FIR lull and ac-
| curate IntoImstlon on this Interesting subject;
- the first day Of Octo"er last the close ct the
| fiscal year, the balance IN the t,essqry Sas S39,
so5 IS The Tim ted ID geceos for the fiscal gar "a
| b'rsemants for the same year. So s39 5i2 81 The
esmstsd es sncs n he treasury on the first day
| rsnuqrs 1851 is ss3 so 79l So. of thus ,amoun'
S23 All ,946 80 has been created the fret da
OF anuar,, 1852. The debt guaranteed for the
| James River and Kanawha Company. the Chesa-
tersbars, the Vlrgini. GENIAL Railroad, the Rich
| mond and t'anviile 2alroad, the city OF Wheei-
ed on the first DAY of January, le6i to So l76 575
| IT, affords n pi' ASSURE IN INFORM you that the IN
,terest on the State debt was pad promptly on the
| FIRST day OF III 8 month.
| The financial arrangement. and the uncertain
! ndlton of pu lie affairs hout he eonntr.
! h,u "A INN "a IT
| gid economy, individually Hnd as Tepresen fa-
tives Of the people In stirring AID eventiul times
| such as are n upon US, we know not what day
| may bring forth" | he future is shrouded in
| gloom-end look n whatsoever direction W. NAV,
| I'VE behold nothing nut danger and darkness
| recommend, the fore, that Sou ronhne your ap-
propri lions to ole rs of Indispensable necessit,
| ordioar, operations of the government and n
| as may be dem lndsd to put the Commonwealth IN
| against assaults from any quarter. We must re-
| trench and economize, and enforce rigid
| he financial storm, now raging 20 wildly, threat
| ems TO visit upon US.
THE BANKS.
| On the 2lst day OF November last. the Banks in
| the city of Richmond sus pended specie pa, ments
and short iy thereafter he other banks an the
been communicated TO me offic ally by the Treasu
rer caused the accompany ing order to lie sent IT,
We're oarefull, conside red / came to the concIn
| son that was safer and cheaper to make the
| three deposit banks the special receivers and Gus
tndans OF the revenue as 1t should be paid in by
he collecting officers. The Capitol is not tire
| proof; and II had directed the revenue to be re
ceIved ana retained by the Treasurer until II was
| needed IL would have been necessary tn emp,oy
| an additional cerk. at a salary OF perhaps ~ 800
per annum. his course. If adopted d. would nave
thrown neavy responsibility, upon he treasurer,
| aud would M have been safer or more convenient
| than the present mode The revenue collected
| since the suspension is on special deposit In the
| banks, and is to be drawn on special checks.
trust his arrangement will meet with your appro-
u fter the suspen.ion of specie payments. the
pyInyY ho lhzrn hf,tu
| are the specie tundS 10 be provided ftT the pay
| ment of the State inter st aud the redemption of
| the only fair and proper mode was ascertain
what per centage upon the circulation of all tine
tthe date of the latest quarterly return of their
condition., W uld realize the necessary amount
tanned that 1t would require seventeen per centum
| and then rec,ed the Trea'urer ana auditor OF
the banks, calling upon them to furnish the quota
necessary Ito meet the Obligations OF the State.
| of the banks, protesting against the Arrangement
and insisting that 1t was The duty OF the deposit
objects, but at the same time expressing willing
| ness to aid IN saving the credit OF the State All
Circular to be sent to the banks Both of the cir
cuars are herewith transmitted c..
On tne zo aa acers Of tbe Iaey Baeh 3hs
| Merchants and Nj echanics' Bank, the Northwest
ern Bank, and the BRANCHES OF each. the CeRtIal
state stock banks assembled In this city after
| spending some time In the discussion and consde
ration of the subject, delivered to me paper,
he r.with transmitted for your consideration. On
the next day committee, appointed by the Con-
| ventlon, waited upon me- and we had conference
OF several hours IN regard To the plan had adopt
| ed he objections to the plan, as stated IN the
conversat. on, were very much those that are en-
bodied in the paper to which have referred, and
are set forth In three of lbeir resolutions.
The first resolution sets forth principle which
| meets with my cordial appreciation. | utterly g.
sent from The principles aVoWed and the doctrines
as ted IN the second and third res ,lutons, and
in IN tlof h
principle assert In the fist. The policy recon-
me nded by the Convention would result IN placing
| he redemp tion OF the debt, almost entirely upon
| the deposit banks, and to that extent embarrass
| manufac -unng interests OF this city. The banks
as well as the citizens are bound by every con-
OF the State. and the burden ous Int to be ma 10
bear, as near equally possnie, upon all. A
polio, VII en- imposes that burden upon one cit!
| therefore dec inc to recognize 1t. Nor did ap-
prove OF the dsGrl~i allon winch this resolution
proposed to make Detween Virginia bondhudeIs
aud others IN the first place because it was
just TO our own CIT zens and IN the second place,
because such liscf mlna'on, II So netiooed, was
to rded a decia auon "f inability on the
part of the STATE to neet her enga- enents, and
must have lpjurOusl' ahectea he ere at abroad;
The preservation OF the states credit i. at all
times al oblec, OF the ii st Importance. lt Is es
pecit ly important that she shall MAINTAIN hef Gre
d now.
ca Gu atotl . no cepos's of all The banks of the
Souum,,n wealth n the hTst da5 OF b.tober last,
exu,ud ng the STATE dc pasIts' Aslngle Itastra
Iun viii, DO tficenu TO dem"nstrate the inju-mce
OF tins plan. al W, IL as lis impracucaDilip. Inc
Rank OF Ri hmond chartered at The last SEES.
son with q cap tai of not less than one hundi cd
thous AID dollar aud not more than one m.lt9n.1
W hen the minimum apltai was subscribed aud
the bank wa organ z ed, they applied 1or an issue
of noes . the amounted wenty thousand dollars.
having one tu tn OF that amount or hve thousand
dollars III spec Q. Accord ng 10 the views emo'
died TINS resolution, w"ud nave been REQUIRED
20 assess, IN this instance seventeen per cent up
on one hundred and twsnt' thousand liars when
the ank never nad q eli cuiatIon, ceedins TWEEN