The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1871-01-06

OF West Virginia about one filth OF the
value Of all the public property possess-
ed jointly in 1861. This claim we place
upon the credit side OF our account as
an Offset to the portion Of the public debt
we owe.
We have spoken above in merely
general terms. There were some por-
tons of the public property of Vir,
ginia which, being within the borders
of West Virginia at the time OF sepa-
ration were converted to the used Of the
new State, and four-6fths OF their value
is to be entered on the debit side in our
account with Virginia. The Asylum
at Weston is ofthis class, and the stock
in the Northwestern and other Banks.
Upon the other hand, we are entitled
to credit for the moneys in the Jeher-
sonville Branch of that Bank and Tor
its circulation which was redeemed
here. These are particulars into which
it will be necessary for the commission
era 10 enter; but which are not included
in the outline which it is only our pres
ent purpose to draw.
Now, if Virginia was financially
solvent in 1861, that is, il her public
property was equal in value to the
amount Of her debt (and we believe this
was claimed at that time) certainly one
fifth of the property was sufficient set
off for one fifth Of the debt, and there
fore West Trginia Owes nothing. II
matters not indeed what proportion Of
the public debt may be charged to our
account, we must be credited with a
like share, Of the public property. II
we owe one third OF the debt, as is
sometimes said IN Richmond, then Vir-
ginia should pay us one-third of the
value OF the property in 1861. And it
is a matter OF no concern 10 us how far
that property may have deprecated in
value since the separation, or to what
uses it may have been put; the value in
1861 is all that we care to inquire into,
and the financial condition OF the State
at that time is all that can be consid-
cred in making the settlement.
Theseare the general principles upon
which we believe the apportionment of
the debt should he made. They are
simply the rules Of ordinary business,
and the transaction under them will be
plain. Ineligible and just. The people
of Virginia must know that no correct
apportionment Of debt can be made be.
tween us, without at the same time
giving US credit for relinquishing our
share in the ownership Of the property
which was held by the Commonwealth
of Virginia at the time the separation
took place. 1t is probable that when
the exact balance is ascertalned by the
commissioners, it will be found that
West Virginia owes something-how
much, we cannot say, but certainly not
nearly so much as some OF the MEM
bers OF the Legislature Of Virginia
seem to think. 1t may be that the az
sregate value Of the public property
held in 1851 was not equal to the
amount of the State debt, in which case
West Virginia would be justly charge
able with her share Of the excess
This can only be ascertained by careful
estimation OF the value OF the property
of the State at the time Of separation,
and when the balance Is found and it is
ascertsiDed just how mnch the people OF
West Virginia owe, arrangements will
be promptly made for its discharge.
Certainly the people OF Virginia will
not refuse TO allow US the credit We
claim. We were partners i'll business
holding property and owing debts. The
partnership has been dissolved. 4 di-
vision of the property necessarily &C
companies division OF the debt Ger
taiuly nothing could be more unjust
than for one OF the partners to insis;
upon the other paying q proportion OF
the debt corresponding to his interes: in
the firm, and denying him any share of
the property on hand at the time OF dis
solution. To state such proposition
is to show its absurdity. We are con-
fident that the people of Virginia will
not insist upon the extreme claims we
sometimes see put forth in that State
and feel well assured that simp.e justice
is all that is desired on either hand and
that the settlement may be easily and
amicably made.