The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-01-17

A n into iiacns observers Know tUats ~ - y
INN possible FOR piiyate credit to escape the
influences OF public tlislionor. a Il bust
ncss-yaen know that public aiscrcdit acts
upon private Just as tho weather tempera.l
ture actsupor The iermoa ieter. The state
nents thai are made about occurrences III
the con,tnerclataaf business world showing
how the interests Of Virginia are ,oSas'lssele
ing from uncertainty and alarm that exist
concerning the financial measures OF the
present General Assembly OF Virginia are
as numerous rs autumn leaves. We notice
only now and then some OF them. lney
are alI OF the same tenor: d;strust OF Viz.
ginia and her people-the impossibiisy OF
making loans TO yirginians-and the con-
stricted compass that prevails In all trans.
actions with Virginia people. The loglcai
reasoning Of shrcWd business communities
is that private character cannot escape the
moral influences Of public disbonor, or
that the means OF conscientious persons
cannot escape injury from the fearful con-
sequences OF public iaithlessness. So that
these consequences fall on The Just and the
unjust.
The people Ct Virginia should study well
these important points. They will proba-
bly, be forced upon them in amanncr which
will make them better acquainted with the
value OF public honor to citizens, high and
low. We have just received letter re-
lating 10 this subject from professional
gentleman Of high standing. Eirginian.
now living in Baltimore. His letter is prac-
tical, and presents the public and private
interests OF the State in q manner that will
certainly set some people to thinking. We
publish it, as follows:
Eoctter gr0s,a {. ylrSiniasa iss Baltimore.
BALTIMORE, January Il, 1878.
To the Editors of the Richmond Dispatch:
sly Dear Sirs,-I know give expression
to the universal feeling Of Virginians who
have been impelled by the depression in all
departments Of commercial and profess
sional life to seek rev homes among
strangers when assure YOU OF tho painful
interest felt here in the result Of the dis
reputable effort now being made by SO large
a portion Of your Legislature to repudiate
in part or in whole the States honest OBJ
legations, and TO degrade the dear old Com"
monwealth.
TO those CT l,s who have come to Mary
land, and who arc familiar with her history,
and the similar effort made but a few years
ago to dishonor her credit. and the result,
it seems marvel Chat any respectable por-
ton OF the population OF the State OF Viz
gina could be found to countenance such
madness. There are few here who have
any commercial relations with Virginia
wao in their personal experience have not
begun ulreadu to suffer the penalty OF this
attempted brcacli OF faith. Within the
past sixty days, in my own professional eX-
pericnce. ia1o cases have arisen where prl-
vate enterprises have through inc sought
loans in this city, and have met with con-
temptuous rcfusals. In one case, that OF a
manufacturing interest, whose credit here
tofore has been good in this city-a case &c
pendent upon foreign capital-a loan is
sought. and though the concern is possessed
of and offers ample security, it cannot borro"
a dollar. The enforced inactivity OF this en-
terprise alone keeps idle from one to two
hundred laborers, sending, doubtless, q
score OF more OF them to recruit the RANKS
Of the army Of tyamps that will soon be-
come to YOUR rural districts an insuferablc
nuisance and evil Can't the people be
made to sec this? Can't they be made 10
see that when foreign capital shuns the State
they will be the sulterers-and they will de-
serve to be; that ii is to their interest to De
honest?
Seek 4 loan here on Virginia security, and
what is your answer? Nothing but per.
sonal regard for the intermediary here will
restrain an insulting rebuff. If your. State,
is the response, will make with me solemn
covenant, and then at every session Of its
Supreme Council seek to break faith with
me, why its citizens will soon catch the in
will readily learn the snow
way to pay old debts.
Could you but get the ear OF the people,
and you will in good time, trust-could
you but open their eyes to the stern fact
that demagogues are making fools Of them,
you will reap the reward your unremitting
efforts richly deserve.
It never does us any hurt to sec ourselves
as others see us.