The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1870-03-09
/ important Message from Governor
, a Walker, s

Az E'SA e>N~
~ Walker.
6 Yesterday Governor WALLER sent to the
General Assembly the substantial messag'
Of the zsess;on-that which developers thu
state of public affairs and the measures o,
public policy deemed by the Executive t'
DC suited to the exigency of the times.
The document is quite exhaustive OF thu
financial question, and spreads before th'
rublic thoroughly digested review OF the
debt of the State--how contracted-hoN
much of the States interest in public wo'k'
is or probably may be good, and what part
is abandoned or hopeless, &c. Also, con
corning the railroads-their relative sue
cess-stanaing of their bonds and Stocks
SC. In al these respects the facts arc
complete and succinctly presented, anc
mike tho message valuable document fol
future reference.
al that part of the message devoted &c
the public debt is characterized by business
talent, and determination to proceed with
measures to redeem the public credit, and
,,Iace it upon the frmest basis The Gov
crnor, while proposing to initiate polio.
for this object is opposed to the resumption
of the payment Of interest until July, 1871
by which time the State will be entirely
ready.
The suggestion Of the Governor that the
State debt should be funded, and that
uniform coupon bond should be issued, viii
ten or twenty years to run, at the option
tie State, is excellent. At present great
confusion cxists-the bonds being various
md Issued under hundred or more acts
The proposed change would enhance thcll
value and greatly promote the ccnvenienc.
Of MI transactions with regard to them. VIZ
trust the Legislature will take early mea-
ssures "a carry out this wise rccommenda-
ton.
In al that the Governor suggests on the
financial point We think there is good sense
and practical value.
With regard to the relief Of the debtors,
Governor WALKER hits exactly upon the
cn!v feasible plan that, in our opinion, can
he aloptcd. 1t embraces two features ;
First. the homestead; second, sales re-
stric.el go that they shall not be made be-
low the assessed value Of lands. Creditors
10 be permitted to take them at the assessed
value should no one bid more.
This ID all that the Governor thinks ii
poss;blc to do for the debtor consistently
with tho Federal and State Constitutions
md the laws. This would put liquidation
in progress, and as in the approaching re-
assuzsmen. of lands, the owners will take
Gaze that they are assessed full! high; the
Stale revenue will experience an increased
tow Of health and yigor The plan Is
conservative and considerate. 1t Is the
only wisc one yet proposed.
We cannot withhold our approval OF tho
scheme for separating the State from all
Dor, in the management OF railroads, but
tie present aud prospective value o! state
s.3c', renders it very doubtful whether the
railroads viii exchange State bonds for
Stale railroad stock for very long time
&c come.
A most important proposition Is at the
close a the message, and that Is the recon-
!ncr,lat:on tina; the proceeds of the lands
GcuQtc1 bv Congress TO Virginia Tor cdu-
Cations, purposes lie divided between an uG-
rlcuItural school anu university for CO.
lorcd students. This would possibly give to
each institution $l50,00O. The colored
university would soon become richly en-
dowed by the gifts of those philanthropists
who feel especial interest in the colorcd
population.
Ii IL clearly our duty to give the freed
man every opportunity Of acquiring know
ledge and testing his capacity for the higher
civilization. The establishment Of the pro-
posed university would take away all
ground Of accusation against Us on the
score Of illiberality towards the colored
race, and would help to infuse kinaliei
feeling in Congress for the State so lately,
in that body, the victim of harsh aud un-
warranted conditions.
Governor WALKER shows his excellent
sense especially, in this closing recommen'
dation of his message. Take the document
as whole, we say most emphatically that
we never read an Executive communication
which more completely defed cuyil. 1t il
remarkable alike for its wisdom and fore
caste. It's recommendations are all pruden
aud practical, and it may be likeued to
plan Of a>grand battle, that is 70 ccmplet
end go we'll fortified at all points, that
leaves hardly doubt Of victory.