The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-12-25
RATR or SUBSCRIPTIONS.
RATES OF oFApvERTIsING.
One SuuRfe, one time, 40 lines or les 10 col
The state Debt-awest virginia.

anu okatH NaAAAhf
From 0e Richmond DtSpdteh.
The Legislature has been somewhat
slow in taking up the subject OF the
State debt with the view Of examining
the suggestions OF the Governor and OF
Mr.. Taylor, the Auditor OF Public Ac-
counts. Mr.. TaylOr's briefand com.
prehensive report affords the basis OF
Legislative action at once clear and just.
He shows by statistics how large a part
OF the resources Of the State have been
Topped of by the outrageous dismem
berment OF her territory, and what
would be the debt of Virginia upon a
fair division oft with the State taken
out OF her domain. Having arrived ut
this conclusion, he proceeds 10 show
how we are to pay the interest upon It
until 1t Is paid. His plan is entirely
practical, and can hardly be improved.
First, let us briefly present the ao-
count OF losses 10 this State by the SO.
cesslon OF West Virginia.
/, The whole number of acres OF
land In the State Of Virginia before her
dismemberment was &c, $3.50, $50; the fifty
counties In West Virginia, 23,l9O, SIS
very nearly half the territory of the
State. f. f...
2. The whole white population OF
Virginia was /, OH .547; OF that part now
West Virginia, 355, ,8i9-or more than
one-third the whole population Of Yir.
ginia.
8. Tho value OF real estate ofVirglnia
was $377, ,947, 1l2.lT value OF same in
that part Of the Stale now West Virgil
mia, SIS, sos, ,6il.6l.
Thus, according to these official esti-
mates, this State loses with West VIr.
ginia nearly half its territory, moro
than one-third OF It's white population,
and nearly one.fourth OF the value OF
It's real estate. t..t
In the matter Of slaves, the contrast
was wide. West Virginia had only 49,
SSl slaves, valued ut 9,l90,500. Vir-
ginia had Az, ,647 slaves, valued at 1896, :
323, 500, the tax on which in 1850 yield-
ed a revenue OF S2Te, 900.
This property has been annihilated.
Mr.. Taylor makes further exhibit OF
our losses. In 1850 there were sixty
six banks and branches in the State, OF
which twenty were located in West
Virginia. The capital OF these banks
was SIS, ,520,55O. Their circulation Sl2,-
900, 600. The amount of dividends and
bonus paid into the treasury by these
banks was, In 1860, 1856, S,S63.43. Such OF
these banks as were located in this
State were ruined by the war, anil will
be able to'pay only small part oftheir
circulation; and the State held stock
In them to the amount of 81, ,6GO,02O
In view of these calamities, of course
the credit of the State has suffered se-
verely; her stocks having fallen from
nearly par before the war 10 now thirty
three 10 thirty.fOur cents in the dollar.
Mr.. Taylor yet adds TO these losses
direct 10 the State, the vast amount OF
personal propertydestroyed, which most
seriously affects the revenue of the
State, while 1t produces n degree Oi
suffering and desolation amongst the
people before unknown on this conti-
nent.
Virginia cannot be held 10 pay the
whole State debt, now over Iorty.Mree
millions Of dollars. The facts induced
by him make stronger the obligation
that rests upon West Virginia TO pay q
part OF 1t. She has lost but little COM
paratlvely, while Virginia is almost
destitute. Mr.. Taylor says West Vir-
ginia ought TO pay third Of tho debt.
1t was contracted while that State was
an integral part OF the State of Virginia,
and the votes OF her delegates in the
General Assembly contributed not a
little TO Its creation. She hns no juster
exemption from her shnre Of its 6bliga.
tions thnn has an individual retiring
from an embarrassed co-partnershIp,
thereby to be exempted from the pay.
ment OF his portion oflts liabilities. But
Mr.. Taylor trusts she hns no purpose
TO set up such claim; and so do we.
But we shall see.
Now, as to Mr.. Tnylor's plnn for
managing the debt, elevating the credit
Of the State, and ultimately paying In
terest and principal Of the proper share
that belongs to Virginia. For he just
ly says that If West Virginia will as
sumo none OF the debt, We should then
scale 1t, pay what we doom TO be our
part, and leave the creditor TO get the
remainder, If he Gun, out Of West Vir-
ginia.
Mr.. Taylor proposes 10 consolidate
the debt Of the State by calling in all
Its bonds, and issuing In lieu thereof
consolidated bonds, which consolida-
tion, he suggests, will efIectunlly cure
an evil long felt in the department
from the issue of registered stock un-
der nety;foWr different acts Of Assem-
6ly. The cOnsoIs issued under this
plan to DO issued on the LIST of January,
1868, and made payable In thlrty-four
years thereafter.
Contemplating the cooperation Of
the sinking fund, which he advises
shall resume It's functions, and BIO aid.
| pl In every DOSSlblO Wny hp nFOnogps
to pny tho interest by beginning ut Il
low figure and rising until tho average
Of six per cent. Is attained, according
TO the following scale:
For tho fiSt four per cent.
For the next four ycars."...........,i per cent,
For the next four per cent.
For Ian "a = n