Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-10-19


las 10 the exer,ions Of those engaged in putting the
nn in exec ou But in addition TO this, and perhaps
superior to it, the committee rely upon the special At
traction which the character Of the stock created will
oIT.r 10 carital The leading consideration which de-
,rmpes ire atiracliveness investment, of stock
in the market they of opinion, Il not generally
uuch the rate of interest the adequacy of security
high rate Of interest is generally suggestive of ulti
mate insolvency. special pledge Of export dutie, SIS
guarantee for the punctual payment Of interest and
nal redemption of principal would give this stock an
advantage over any 10 the Market except the first
fifteen million loan, upon which there was a similar
guarantee, aud which now commands premium Of
thirty per cent Its registered and eighty on its cou
pom bonds According TO recently published state
ment of the Secretary of the Treasury export Duties
az moderate rate of imposition, viii afford an ample
securty for an annual interest of over s4s 900.
But stronger attraction than either of these the
mittee think, will be the exemption Of the stock from
taxation, and the contrast it will present with every
other form o. property upon which heavy burdens will
have to be laid to meet the expenses Of the war; and
| the debt that it will leave US
The report of the Committee concludes with the fol-
loving just observations:
"To the plan submitted your Committee are aware
that objections may be urged as they may and will be-
10 any plan. They have felt that the whole subject
was enyroned with difficulties, that wisdom patriotism
and On iron will in the pursuit of what Is deemed best
for our country cause, alone surmount obviatc
In some respects they have found necessary 10 mod
Nv their own views, in Difference to the known cond
ton aud wants of the Government and have prese
the foregoing scheme, as IN their judgment likely 10
incur feWest objections, aud to accomps the largest
aavino tha tnf A.ta
mined people ia q momentous crisis, to surmount all
unavoidable difficulties when their liberties aud honor
are in peril Great issues invoke great efforts. All
others are worthless amid the grand events that sweep
our national destiny, with gigantic momentum, to its
DEVELOPMENT Even the timd must become heroic in
the presence of such issues rendered in this
struggle Let Virginia do what she oai in sustaining
the finances she has in fighting the battles of the
country, End her example, like pillar Of cloud will
lead the hosts Of the South to gloruus deiyerance
| FROM all the peris that now threaten.
In conclusion, your comm ttee respectfully recon-
mend the adoption of the following resolutions:
l. Resolved by the general assembly, that the people
of Virgin WILL under circumstances, contemplate
the cessation of hostes until our enemies shall rtcog
nzs our separation final and our independence as a
na,ion or shall Withdraw their armies from southern
SOIL and that they will in vindcation of this purp'se
aud in union with the people OF her sister States de-
their to any extent made necessary by the
exigeneies OF the war; to support the Government in s
from our entire borders.
g. Resolved, that viewing with the deepest concern
and apprehension the numerous private evils and the
imminent public dangers which proceed from the pre-
sent disordered condition Of the currency the State Of
Virginia will unite promptly with sister States of the
Co0federacy in such equitable and considerate system
or plan by investment in Confederate securities or other
wise as may be deemed prudent and requisite pre-
serve the faith of the Confederate Government sustain
It's credit and secure TO it the OF conducting the
pra ent war to a successful termination. ii
Resolved that in furtheranoe Of the purposes ex
pressed in the foregoing resolutions the general assembly
deem il proper provide by Law for authorizing joint
stock companies and other corporate bodies OF this
State invest such portion of their they NAV
think proper the stock Of the Confederate Govern
ment and that the citizens Of the State be urged to in
vest in like manner, with 4 view to reduction of the
circulation and the support of the Government.
Resolved, that copy of the foregoing resolutions
be communicated by the Governor to the executives of
the other States of this Conedersey with the request
that they laid before the Legislatures thereof and
some responsive action invited thereon at carly day
~ pTactc be and that he be requested to appoint
or more suitable persons commissioners to said States
whose duty shall be to visit said States such time
the Governor shall deem most suitable and invite
aud facilitate far practicable the cooperation Of
said Staes n the purposes set forth in the foregoing
rosoulona.