Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-10-12
oensss:ss..


The following proceedings took place IN
the Richmond Legislature on September
goth /: =.
Mr.. Newman, of Mason, offered the fol-
Rssolpsd, That the Committee Of Courts
Of Justice inquire, into the expediency eIi
reporting bill for the suppression OF
gambling.
The resolution was agreed to.
The bill to abolish brokers and prevent
the traffic in gold and silver was taken
After the proposition Of various amend
ments, Mr.. Keen, Of PittsyIVantaI moved
the substitution Of the House bill on the
same subject for the Senate bill under de-
bate.
Mr.. Randolph, of -Riehmond, said he
would like some explanation from the pa
tron of the bill as 70 what the author Mr..
Collier) expected to accomplish by the
passage of. the bill one Of its effects
would certainly be 70 Danish gold and sill
yer from the COMMONWEALTH, for II is not
the nature of the people to barter the pre-
cious metal at pdl forlnotes. The trattse5i
in gold aud silver would be abolished, but
gold aud silver would be abolished with
Il. Certainly we would not heard e1-'
change at twelve hundred per cent but.
the currency would not be improved.
Mr.. Gutter said the main object OF the
bill was to prevent the depletion OF gold
and silver by reason of the s'blockade rum
iuers, - the direct effect of which was TO de-
preciate the Confederate currency. BE had
couveFsed with eminent merchants IN Rich
mond aud Peterborough and they all con.
CURED in the one opinion. That the de.
probation of the currency was owing to its
barter for gold and ''ereenbacksn that go
to purchase the cargoe5 of blockade goods
run through from Baltimore. The traffic
in the currency of the United States and
the Confederate States amounted to hun!
dreds of thousands ofdollars weekly aud
always al, q disadvantage to our currency
Of,three or FIVE to one, sd ~. J." ist'
!, Mr.. Goghill, of Amherst, was of the opin-
ion that the operations in gold and silver
were at an end, as far as il concerned tbs
Commonwealth; the precious metals Were
used to carry lon a trade outside ofthe
Common wealth. and il did not mattIr
much whether gold Was bought and sold
at twelve hundred per cent. in Virginia, or
at the same per Centum in North Carolina.
He did not know of any legislation that
would compel gold to remain in the Com
monwealth. The loveof boarding, and the
love and faith in it, that increases as faith
in the paper currency lessons, alone will
operate to keep gold in-the State, and then
it will be as useless a. though it were yet
uumined. ~ ~ p q 10 SOS 300 b. .!i
He moved that the billand substitute be
laid on the tSo1e. Is ta'7ss lH son
Mr. Seldom moved to recomHlit the bill
and the substitutes to the committee from
whence il came. He was painfully aware
that the traffic in gold and silver wac detri-a
mental to our currency, but he could not
see that any of the IAmedies proposed con-
tanned the ingredients Of cure. The oc.i
cupstion of a sectioaby the enemy would
compel the inhabitants of that country 10
provide themselves with q currency that
would either willingly or unwillingly, be
compelled to violate the provisions of this
bill, if it becomes law. The way to
strike at the root Of the whole evil of de-
preciated currency was to strike at the
blockade running. 'aa- + sac ~ p
Mr.. Coghill asked how the Legislature
was to strike at the blockade running.
MIR. Selden--Let the banks of the Com
monwealth call in their paper currency,
which commands premium of three hun
bred aud fifty over Confederate money at
the North, redeem it dollar for dollar for
Confederate Treasury notes, and holders
of the State notes at the North-these
QlpCkau6 EuuueFSt u Iuey uO bOb HahS ~
lose their money, will have TO bring them
here and receive for them dollar for dollar
in Confederate money.
Glr. Coghill said he knew it to be true
in the case of one State bank, and he be-
lieyed it to be true OF all of them, that a
very large proportion of their notes were
either boarded by persons within the State
or had been sent out of the State to be sold
at a large premium. -H 3i
The fictitious premium on and over our
currency is giving aid aud comfort 20 the
public enemy, for on nothing are they
counting more than in collapse and
breakdown of our financial fabric.
The Senator moved to lay the bill and
substitute on the table to enable the Com
mittee and Senate to gather additional
light from reflection upOn-it and the evil
il was intended to grapple with. Lai
The bill was laid on the tables il AZ
e uL.tI, l,....,, ~ ~ = MI. rlon n,orciaI