The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-02-19

supposed to be...................... 37o'ooo
s55S 800
Messrs. GUILD, LEE, CROCKETT, and
MEADE addressed the Senate, and the sub
stitute finally passed by vote Of yeas 20,
nays 5, as follows:
YEAs.-Messrs. Alexander, Belew, Boiling,
Carter, Crockett, Davis, Dulany, Gait, Gray,
KeIlo, Lee, McRae. Meade, Mitchell, Ould,
Peck, Power, Richmond, Taliaferro' and
NaTs.@Messrs. Cabell, Keen, Lawson,
Powell, and Strother-5.
The following is a copy of the.bill as
passed:
Whereas a large part of the State of
Virginia as the same was organized prior
to the 18th of April, 1861, has assumed a
separate political organization under the
name of West Virginia and whereas
said State of West Virginia is legally and
morally bound to contribute towards the
payment of the public debt existing at the
date of separation: and whereas until
some adjustment is accomplished between
the two existing political organizations the
measure of Virginia's liability cannot be
ascertained; and whereas, while the State
of Virginia will exhaust all her resources
to fulfil all her just obligations, and to es-
tablish and maintain her dignity and Gre
dit, yet it is deemed proper by the General
Assembly, under existing circumstances, to
suspend the payment of one-third part OF
the debt existing at the date of separation
to abide the result Of a settlement with
said West Virginia. The justice and pro-
priety of making this suspension is shown
by the following abstract from the Audi
tors report for the fiscal year ending Sep
TENDER 80, 1866:
"lst. Let MS consider West Virginia and its
territory: The whole number Of acres Of land
in the State prior to its ACKNOWLEDGMENT was
81, $50, 03O; in the fifty counties claimed by
West Virginia, %, 1870 SIS, or nearly one half of
the territory of the State.
sgd. Its white population The total popu-
lation Of the State in 1860 was l,0E,5 in
West Virginia, S55,649, or rather more than
one third Of the whole.
Of lands, lots, and buildings in the State, as
appears from reports in this office, was in 1860
1877 947, ll2.l7; total value of same subjects in
West Virginia, $50, 500, 64l.6l. Showing that
West Virginia embraces within its limits a
fraction over twenty-five per centum or near
ly one-fourth of the total value of the land,
lots, and buildings, as reported for the State
in 1850.
Total number of slaves in West Virginia,
1881 which, valued at $500 each, will pro-
duce 80, 100, 500" .,e
Thus we find the astounding fact deve-
loped that by the secession Of the coun-
ties now organized into the new State Of
West Virginia this State has lost nearly
one-half of its territory, more than one
third of its white population, and nearly
one-fourth of the value of its lands, lots,
and buildings, to say nothing of vast
amount Of personal property, the value OF
which it is impossible accurately to esli-
mate. And here / would remark that the
debt of the State was contracted while
West Virginia formed an integral part OF
it; that by the votes of her delegates in
the General Assembly she contributed not
a little to its creation, and hence that she
stands this day as sacredly bound for its
payment as if she had never dissolved her
connection with this State. She can claim
no ulster exemption from its obligations
than could ON individual by retiring from
an embarrassed co-partnership claim
thereby to be exempted from the pay.
ment of his portion of Its liabilities. ]
trust she has no purpose to set up such
claim; certainly have no wish to believe
that she has. ste9s lcl
But should the result Of such settlement
with West Virginia establish that the State
of Virginia is bound for such suspended
debt, or any part thereof the credit of the
State is hereby pledged to meet any such
obligation so made manifest; and 30 far as
any Indebtedness is fixed upon West Vir-
ginia by such settlement, this State will still
perform any obligation, moral or legal, in
seeking to arrange or procure, on behalf OF
the creditor, q proper adjustment with
West Virginia.
BE 1t therefore enacted by the General As
sembly, That the State Of Virginia hereby
assumes tho payment of two-thirds Of the
principal sum of oil obligations Of the