Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-02-09


very fountain whence has long flowed the everwidei
ing stream Of civilization. From the day 1t was es-
tablished and men felt secure that they and their
children would enjoy the fruits Of their labor they
went to their work with alacrty and confidence Hope
inspired and joy cheered them on their path,r This
great and sacred right the very springfield aud guarar
tee Of progress this bill strikes down. Ria sti7de
aud confseation, in effect, uito'a compensation Of a
part Of every maaS property, and not for pO5lie
bat for pirate uses. It is taking from one by law to
give to another Say Justly says there is 40 security
for property when despotc governments can take it
from subject without his consent" This Is the prnc-
pie meant 10 be conseerated by Bill Of Rights Its
SPIRIT aud words are both violated by this measure
For not only violates in effect the right of freely df
posing of ones owibut Also of freely acquiring pro-
perty For whee yon forbid s SELL except for gs'n
terms you prescribe terms at the same time to all who
would bny Though be starving, and have means
he is willing barter for food you refuse him the priy
lege unless another sells which you undertake
to prescribe, and which he is unwilling TO accept
All men are alike Interested in opposing such law
the poorest equally with the richest For the poorest
man hopes and strives by his labor TO become the owner
of property but pass this law and what inducement
has lie to acquire what smother claims the right rob
him ofy-for toaaks without compensation is mere rob-
berry.
viii discuss, for moment, what omitted in lis
right place the novel position of the gentleman from
Petersburg that high prices the cause not the ef
",
gentleman from Jefferson well showed Is against
him. 1t is postuate with all writers on the subject
known TO me, that increase of money causes 10
crease OF prices IL Is ratified by all experience =
In the sixteenth century prices that had undergone
but little noticeable change, for long period Of
time, except occasioned by more less abun-
dance of commodities, soon trebled themselves,
following nearly the ratio Of the increased qusn-
tity OF the precious metals furnished by the neXy
discovered American III ines. So IL u agreed all
hands that n similar Uniformity OF prices though the
world again broken by the augmented amount OF
gold thrown into circulation from California aud Aus
talia and that prices of all articles under similar cir
cumstances, have again gone up. So il was In France
and in this country when flooded with assgnats, and
continental currency. In all these all things re-
NAMED, approximately, before, except the circulating
medium Was not the inference thatts increas. caused
high prices irresistible? Let in the exist
ing go back to the beginning and il cannot
tabsh the fact that increase OF prices followed and did
not pecede, increase of currency. What occurred on
the instant Of rupture with the United States -
Two things mainly. The substitution of an immediate
cash demand for the subsistence Of the numbers
called into public service in lieu of the system OF
credits and barter by means of which 1t bad been OBJ
tanned previously by the same persons for Themselves
and secondly instantaneous cash demand for large
quantities OF articles Tor which existed before-Is
arms and munitions oil war armed vessels dc. Prices
then quiet appeal TO the recolectons OF all To
the contrary the feeling manifested sell low to the
Government aud to another. 1t not until millions
after millions OF the new paper filled the markets that the
everywhere accommodating began TO Increase the
number OF buyer and augment prices And this enlarge
ment Of issues has constantly gone on and still goes on,
and must still enlarge prices Indefinitely lift be not check
ed Could credit have been employed by the Government
1t had been by individuals before the war-or, had
tes been largely increased they ought TO have been,
cJncurenty with these large issues the amount Of cir
culaton would have been kept down. and prices would
have attained their present elevation Let the
volume OF the currency be decreased to-morow-by
funding-by taxing, or any means whatever, prces
would instantly fall. Or let the keep
tonary-great as il $50 that the people should know
il would not be increased and still prices would sensbly
fil-ior, the fear OF increased depreciation, is itself
cause of enhanced prices of no nconsderable import
hnce With all this re have nothing TO do. The power
and the duty reside elsewhere Not TO add TO the vol
ume OF nconvertbe paper and to aid the currency by
ugal expenditure, and large taxston the limit OF
power over prices so far as they depend on the quantity
of currency.
have now said all deem necessary on the principles
involved in this measure. confne myself to them.
On them the BILL think, should fall where is If il
advance further to require il, shall beg the op,
portuny TO show the working OF the bill. | undertake
TO show, it il be necessary that is imprsccabe but
TO partial extent-that 80 far it be carried into
effect it will work nothing but mschief-snd ii fully
IL
crate Government and prove fatal to cause.
Instead of entering this wide field propose to cite
those authorities of the wise and that experience of the
past, on which rest my conclusions. sensible how
little weight | can claim for my opinions; but | may
fairly challenge, for the authorities shall cite to
tain them the respect which all the world has united in
paying to them.
Mr. r. followed his speech by numerous citations from
Hume Burke, Thers Llmartine, and from the speeches
OF Pitt Grenville, Grey, and other English statesmen
i'll lS0O-a year Of great scarcity aud high prices in
Engand-and showed the evils and disorders resulting
in France from the attempt 10 regulate prices there
but We have not space for these extracts at present
THE REPULsE OF THE YANKEE GUSBoATs AT
GENESIS POINT.
The Savannah papers of Monday last bring full ac-
counts ofthe attack upon battery Genesis Point
by five Yankee gunboats, among which a turret
ironclad supposed to be the Montauk. The News says
About o'clock Rews reached the city by a courier
that battery Genesis Point had been attacked by
four or five gunboats and the ironclad turret boat
which bore conspicuous part in the engagement
Tuesday last; that the irouclad anchored within
Areequarters OF mile of the battery, and that Major
John b. Gallie commanding the garrison, had been
killed early in the action This painful very
rally increased the anxiety of citzens for further
Of the progress Of the fight. Some two
hours were passed in most painful suspense, aud the
hearts NnOse TtlAtlftS were III the
battery throbbed the ncessant thunder OF the heavy
guns that mingled strangely with the pous peel of the
Sabbath bells In the churches the novel and
Impressive. While from the pulpit went up earnest
thanksgiving for newly victories over the invaders
of our homes and fervd aud heartfelt prayers for ogr
brave men Ut that moment engaged in fearful combat
with the foe the deep emotion that pervaded the con.
grega,ion, found eloquent expression in every face Still
the deep-toned thunder OF the cannon reyerberAted
through the air aud Jared the windows in every part
of the city. rumor had reached town that several
of the guns OF our battery had heen dismounted BY
the heavy missiles OF the ircnclsd turret boat which,
short range, eectually commanded works. aud the
greatest fears felt for the fate Of the garrison
Public anxiety vas, hosever, soon relieved By the
cepon of the following despatch from Col olmstead:
The firing seems to have ceased. The last despatch
from the lttery reports everything working beautiful
" and the iron.clad slowly falling back, having been
struck repeatedly. The garrison is in fine spirits
Casualties slight. Since Major Gaies death, only two
men have been wounded.
The account in the Meas proceeds as follows