The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1870-03-01
8mhntond Dispatth.
THE CIRCULATION OF THE "DIsPATCH"
LIZ LARGER THAN TIE COMBINED cIRCU.
LATIoN OF ALL THE OTHER DAILY NEWa
PAPERS OF THIS CrTY.
The Debt Of Virginia and West vir.
~gfnla.

The Debt OF Virginia and West vir.
~gfnia.
In the West Virginia House of Delegates
on the 24th ultimo the Speaker laid before
the House message stating that be had
just received from Governor Walker, of
Virginia, a copy of an act passed by the
| Legislature Of Virginia, and approved ON
the 18th instant, for the adjustment of Che
public debt of Virginia. Governor Walker
requests that the act be laid before the Le-
glslature Of that State in order that SINH
lar law may be enacted, to the end that an
appropriate adjustment of the public debt
OF Virginia may be had. Governor Ste
Venson, in transmitting the copy, recon-
mends that the Legislature take such action
in the premises as they deem appropriate.
Laid on the table and ordered to be printed.
The Wheeling Inteltigeneer says:
The Virginia authorities are very earn
est in their wish for an early settlement.
Claiming, as they do, that West Virginia is
bound for a third of the debt, they have
been Withholding third Of the interest
where interest has been paid by them; and
this state Of affairs seriously affects the
credit of that State.
Until now our Legislature has properly,
as we think, declined to take any action in
this matter on account of the anomalous
condition of public affairs in Virginia.
This reason for delay no longer exists. Our
Constitution provides (section article 81
that "an equitable proportion of the pub
lie debt of Virginia prior to the first day of
January, in the year 1861, shall be assumed
by this State; and the Legislature shallas-
certain the same as soon as practicable,
and provide for the liquidation thereof by
sinking fund sufficient to pay the accru-
ing interest and redeem the principal with
in thirty -four years." It is an unpleasant
duty to take even the preliminary steps
towards laying any part of this debt on
our State Treasury, but it is duty none
the less, as shown by the mandatory pro-
vision of the Constitution quoted. It is
now practicable" to ascertain ~ our
"equitable proportion" of this debt; and
since the Constitution says the Legislature
shall ascertain it as soon as practicable,
there is plainly but one course to be pur!
sued consistent with duty and honor.
Nothing will be gained, We imagine,
either in money or in credit, by seeking de-
| lay beyond what is unavoidable. The inte-
rest on the debt goes on and accumulates,
whether We settle or not. Whatever is to be
done when our share of the debt has been
ascertained, this State cannot, without risk
ing some suspicion Of bad faith, decline to
respond now to the action taken by Vir-
ginia.
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 Ex-
cellency makes no recommendation but
the facts and the law are before us, and it
seems to us they cannot be disregarded
| without exposing West Virginia to the sus-
| picion of seeking evasion or needless delay.
The Governor Of Virginia has appointed
commissioners. They are Judge Robert
son, w. T. Sutherlin, and P. II. Aylett.
The question is, whether our Legislature,
before adjourning, will authorize Governor
Stevenson to appoint commissioners on the
part of this State to meet them and begin
the settlement. If the State intends to do
| what her Constitution requires, there seems
to be nothing to gain by delay. We may
as we'll face the unpleasant business at
| once. ;
AS to the settlement itself, the basis
which this State will claim and seek to
MAINTAIN ia fixed in section of the ordi-
nance for the division of Virginia, adopted
| August 20th, 1861, by the Convention that
re0rganized and restored the Government
of that State. It is that West Virginia
- shall take upon itself q just proportion
ct the public debt of Virginia prior to Janu-
a1,Y 1st, 1861, to be ascertained by charging
to il all State expenditures within the limits
ther eof, and Just proportion Of the ordi-
nary expenses of the State Government
since any part of said debt was contracted,
and deducting therefrom the moneys paid
into the Treasury Of the Commonwealth
from the counties included within the said
new State during the same period" That
is, that West Virginia is to be credited
with revenues paid into the Treasury, OF
| Virginia by the counties now composing
this State between the period when the
first of the debt was contracted and
January lst, 1861; and against this she is
to be charged with fair share of the cur
rent expense of the State government, and
| with oil sums expended by the State within
these counties. This seems equitable, and
this, it is believed, will give us but little it
any part of the debt. Virginia will resist
this basis of settlement, of course; and
! the questions she will raise will be interest
ing and grave. But all that is further
along. That will happen whenever the
settlement does take place, whether it be
soon or late; and whatever may be agreed
on as the basis, and whatever may be "as-
certained" as the results Of the settlement,
our own conviction is that West Virginia
will gain nothing by refusing to enter upon
il, or by delaying it needlessly. The Legis-
lature, however, will be the Judge OF the
law, and the facts, and of their own duty.