The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1870-02-25
TIE VIRGINIA DEBT.

- THE blhGlNlA D6bAs %
The question Of adjusting the debt
between Virginia and this STAT, has been
brought directly before the Legislature.
Gov. Stevenson, yesterday, transmitted a
copy Of an Act of the Virginia Assembly
providing for the adjustment, forwarded
to him for that purpose by Gov. Walker,
who requests that reciprocal action may
be taken by the Legislature Of this State,
The Virginia authorities are very earn.
est in their wish for an early settlement
Claiming as they do that West Virginia is
bound for third of the debt, they have
been Withholding Third Of the interest
where interest has been paid by them j;
and this state Of affairs seriously affects
the credit of that State. l.t
Until now our Legislature has properly,
as We think declined TO take any action
In this matter, on account Of tho anomal.
Gus conditioned public affairs in Virginia.
This reason for delay no longer exists.
Our Constitution provides Csec. 8 art.
VIID that IAN equitable proportion Of
"the public debt Of Virginia, prior to the
first day Of January, in the year 1861,
shall be assumed by this State; and the
Legislature shall ASCERTAIN the same as
soon as practicable, and provide for the
liquidation thereof by u sinking fund
sufficient to pay the accruing interest,
land redeem the principal within thirty
flour years" 1t Is au unpleasant duty to
take even the preliminary steps towards
laying any part of this debt on our State
treasury, hut 1t Is duty none the less, as
shown by the mandatory provision Of the
constitution quoted. 1t is now "practic-
cable" to "ascerLain" our equitable pro-
"portioR" Of this debt; and since the con.
stitution says the Legislature shall asccr-
tain il as sOOn as practicable, there is plain
ly but one course TO be pursued, c0nsis.
tent with duty md honor,
Nothing will be gained, we imagine,
either In money or in credit, by seeking
delay beyond what Is unavoidable. The
interest on the debt goes on and accumu.
lates, whether we settle OF not. What
ever Is to be done when our share Of the
debt has been asccrtaineL, this Suite can
not, without risking some suspicion Of
bad faith, decline to respond now to the
action taken by Virginia.
We do not know what view is taken Of
this matter by the Legislature, nor by the
Governor, for in his message transmitting
the act Of the Virginia Assembly His
Excellency makes no recommendation; but
the facts and the Inv are before US, and 1t
seems to US they cannot be disrcgardcd
without exposing West Virginia to the
suspicion of seeking evasion or needless
delay. ,'a
The Governor Of Virginia has appoint
cd commissioners. They arc Judge Ron,
ERTsoX, W. s. suTHERLTN, and P. II.
AYLErr. The question Is, whether our
Legislature before aIjonrning will authO-
rize Gov. STEVENSON to appoint commits.
slones on the part of this State, 70 meet
them and begin the settlement, II the
State intends to do what her Constitution
requires, there seems 70 be nothing to gain
by delay. We may as well Glce the I'M
pleasant business ut once. ~ r.r
As to the settlement itself the bnsis
which this State will claim and seek TO
maintain, Is fixed in section 0 Of the
ordinance for the division Of Virginia,
adopted August 9Oh, 1851 by the Con.
vention that reorganlzed and restored the
government Of that State. 1t is, that West
Virginia "shall take upon itselfa just pro-
portion of the public debt Of Virginia
"prior to January LIST, 1851, 10 he ascor-
"Alncd by charging to It all State cxpen-
cultures within the limits thereof, and n
Just proportion of tho ordinary expenses
"Or the State government, since any part
"Of said debt was contracted, and deduct.
ling thereirom tho monies paid into the
treasury Of the Commonwealth from the
counties included within tho said now
estate, during the same period" That's
that West Virginia Is to be credited with
revenues paid into tie treasury orVirgin-
ia by the counties now composing this
State between the period when the
first Of the debt was contracted and
January LIST, , 1851; and against this
she Is to be charged with fair
share Of the current expense Of tho
State government, and with all sums cx-
pended by the State within these cOun-
ties. This seems equitable, and tliEs ii Is
believed, will give us hut little il any part
Of the debt. Virginia will resist this
basis Of settlement, Of course, and tic
questions she viii raise will he interesting
and grave. But all that Is further along.
That win happen whenever the settle.
ment does take place, whether Il he soon
or late; and whatever may be agreed on
rs the basis, and whatever may be "ascGr.
taIned' as the results OF the settlement,
our own conviction Is that West Virginia
will gain nothing by refusing to CntGrupon
It. or by delaying II neeilesly. The
Legislature, however, will be tho judge Of
tue law and the facts anL Of their own
duty,
An EYE TO 'Te.-Ex.scuator Hendricks