The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1871-12-29
FRIDAY EVENING. DEC. 30, 1871.

took occasion to say, in response TO the impnta.
tion that the Funding Bill had been Conceived
In Wall street, and born in the brokers' shops of
Richmond" that the bill in question came direct
from the hands of the Governor, who was the
author OF it; also, that the plan was not new
one. and that two years before his election he
1.-THE Governor} had drawn similar one for tho
city of Norfolk Correspondence Petersburg Dat
~ I,,der.
So Mr.. Daniel fully confirms the state
ment that the Funding Bill--that financial
"white elephant" did not emanatc from
the Legislative, but from the Executive de-
partment of our State government.
We say "white elephant" because in
llindoo story, it is said, that a tyrant de-
signing to ruin an aspiring subject, pre-
sents him with "whitc elephant" an
animal which is gifted with enormous
power of consumption, but its voracious
appetite must be satisfied with no other
than the most costly edibles, while its
housing and attendance must be uLon the
same delicately magnificent scale. 1t is
moreover by constitutional guarantees
declared and held sacred, and can neither
be killed, given away, nor stinted without
cnsuring the eternal destruction of the
unfortunate donec, yet to keep it is GER
tain to ruin him temporarily.
The parallel is complete. The Governor
has presented us with "white elephant"
in the Funding Bill and Mr.. Daniel and
his CONDUCTORS have searched out his pcdi-
gree, and announce he is sang pur,
veritable sacred creature, and the people,
to whom he has been presented by the
Governor, must feed him with their SUBJ
lance, if it strips their own larders.
The Governor, it further appears, not
only made this same Funding Bill tout of
his own head" but it is his mature effort,
to which ne was enthused by the success
of a little preliminary adventure at Norfolk.
AS Burns has it: -A
Her prentice han she tried on man. f..f
And then she made the lasses O -
so the Governor tried his prentice ham on
Funding Bill for Norfolk, and elated with
success in the construction Of his sslittle
co." came to Richmond and got up "big
thingo on the same model.
Not long ago we saw in the windows Of
certain brokers' offices in Norfolk, notices
to this effect-"city scrip, receivable for
tares, for sale here !" and, inquiring what
this meant, we were informed that brisk
business was done in these little coupons;
that "blest paper credit" of which Byron
sung so well, was one of the city insttu-
tlons of Norfolk and although it was
skinnlng process, that the people, like the
philosophic eel losing its epidermis in the
hands of the cook considered it nothing
when they got used to it.
If A. owes taxes to the city, he can dis
charge his liability by paying in coupons,
and the treasury consequently is well sup
Piled with its own promises to pay. b.
has claim against the city for labor or
materials, which he presents, hoping to
receive the amount in current funds the
treasurer, however, not having received
taxes in that shape, cannot meet his reason
able demands, but, in lieu of cash, tenders
city scrip, with the offer of Hobson's
choice-"that, or nothing" b. in doubt
as to how the coupons will meet his note in
bank, or pay his laborers wages, is told to
take them to Messrs. Broker, HAPPY & Co.,
who will discount them, and as he finds no
other resource he does SO; and Immediately
he has passed them over the counter and
received his cash, Qess liberal discount
they reappear III Messrs. B., II. & Co.'s
window, to be purchased by others, like
A., who have taxes to pay, and prefer to
pay them in the kind of currency which is
cheapest. So "the old thing works." and
1t is very pretty working for the brokers
and rich taxpayers, but quite the contrary
for those who seek pay for labor, &C., &c.