The democrat. [volume] (Weston, W. Va.) 1868-1874, 1870-12-21
THE YlRGIN1A pVBLTc DEBT.

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THE VIRGINIA PUBLIC DEBT,
The cnrpct-bag Governor of Virginia,
7kpoNd1by the name ofGovefnor Walker
who now Ills the, place, 10 former days
occupied by BeprN Jefferson. Harrison,
Randolph. Lee, Monroe, Bsrheur Tyler.
Floyd, ToGaweH, and our oEa citizen
Governor johnson, has recently. irk hi.
message to the Legislature, (par, ofwhich
we print on our first page. INDUCED in
many unkind threats and inue pdocs
against this S,ate.groying gu. Of her fail.
ure to pay ii"t' tie treasury Of Virginia
her share of the public debt of that State.
He brisgs to his relief the7disceurtesy of
Governor Stevenson, ip no. replying to lis
threatening demands. Ofcourss we know
nothing which Governor Stevenson has or
has not done; but, We take It for granted
that he has done that which. isrright and.
in the right we defend him. We presume
Governor Stevenson has appointed COM,
uissiopers to meet the commissioners Of
Virginia to settle the equitable proper
tons Of eIpublic debt which each State
shouli bear. This was fulfilling his obi.
cations ,Ttis-was accepting virgjnia's
proposition. This va, meeting them half
way. ,sv s;i,gT 4, ,,gsr a,
h This State cannot consent togo beyond
an equitable adjustment Of these liabili-
tiess and, sill not; and III this her inseg,
rity must not be imPeached. r.. No threats
of Governor Walker xill driss, US into m
improper mode Of settlement or into any
mode looking ,o.ths compulsory one, Of
paying our share Of the pu bic debt into
the treasury of Virginia. Whatever we
owe, we will assume and pay to the cred.
i'ors Of the State, and if any creditor fails
to accept our bonds. let bim Igo unpaid;
as We have nothing further TO s6er. In
truth, we owe but little. il an equitable
adjustment Of the public debt be made.
Governor Walker seems to realize this
officially, and BY his friends in the Leg.
! stature wishes 10 drive US to an NJ bi1ra.
ton BY bond-holders who will be interested
in fixing a basis. Of adjustment, that vii
promote thefiu.erests Of outside capitalists.
From this we dissent. Wslare uu willing
10 place our Own resident bond holders at
the mercy Of the treasury of Virginia. or
interested capitalists. We cannot consent
to DO our own resident citizens AN injus.
,ice. They are the persons We Intend first
to pay, asi We intend to pay others to
the extent Of our liability, and there stop.
The share we should bear in the bonds Of
Virginia can never be allowed to exceed
the money raised BY them, and approprit
ased within our territory. To this extent
We will 80. and no further 10 Virginia
this would be taken as an equitable ba-
sis by uiue.teuths-sf herchisens; but by
a creditor representing the interest Of
capital and desiring ,otinaa,e the value
Of the bonds they own. a different basis
might be Fixed which would unjustly i'm.
poverish US and our children after US for
an indefinite time. Whenever the money
arising from the bonded debt Of Virginia
appropriated within tho territory. Of this
State can be asceriained, NC are ready
cheerfully to meet it, This may readily
be ascer.ained by reference to the public
records at the capitol of Virginia. To
ascertain this, it is not necessary to arbi-
,ra,e, Any person who can add and sub
rrac. may settle tho differences.
1t is true there are certain matter.
growing out oi..be administration of the
Literary Fund Of Virginia, which may be
properly used to liquidate the stock iu the
Fairmont bank appropriated bv ibis State.
Capacity and craftsmanship to bring them
to the surface should net bsoverfooked F:
and we trust Governor Stevenson may in
struct his commissioners to examine thor.
oughly into this subject. ,5
lHs9 ! IMMIGRATION. =.