The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1871-10-23

aDllltleS over MS cOmpcJJOr Ill advancing
arguments that completely yindicated our
party from the aspersions Sought to be flXed
upon it by the speakers that had preceded
him. In reference to the State bonds, Mr..
i. said that he had observed since the
commencement of the canvass, various
opinions expressed by candidates for the
Legislature in several of the counties, In
relation to the liability of the State for
the State bonds-some had announced the
proposition, that inasmuch as the people
of the State had lost their slaves and other
property by the war, that Virginia was
thereby released from all legal and moral
obligations to meet her public indebtedness.
This notion, Mr.. l.. contended, was simply
ridiculous, hardly worthy to be called
demagogueism. Virginia was mordty
bound to pay her just proportion OF the debt
aclien Mqt could be dsce,tdmed, and she be-
came able to do so /; but he denied the labll-
ity of the State in legal point of view, for
one dollar of the debt. He quoted that
clause of the United States constitution,
which declares that ''no State shall emit
bills of credit or pass any law impairlng
the obligation Of contracts" to show that
the States were expressly prohibited, by
the constitution, from pledging their credit
in the form of these bonds. Mr.. l.. then
went into an able review of the condition of
the country prior to the adoption of the
constitution, to show the untold evils
thrown upon the country by reason of the
unlimited issue, by the colonies, of bills OF
credit, and their depreciation to utter
worthlessness that, in view of this state of
things our lorefathers in adopting that clause
of the constitution, intended to prohibit the
States absolutely from pledging their credit
in such form as that their evidences ofin-
debtedness could be circulated as currency.
MIR. l.. quoted from decisions of Chief
Justice Marshall, and from Mr.. Story's
commentaries on the Constitution, to sus-
tain the proposition that the State bonds Of
Virginia were bills of credit in the meaning
of the Constitution, and therefore of no
legal effect. Mr.. l.. also referred to an
opinion of Mr.. Webster, given to the Bar
ings, in which that distinguished constitu-
tional lawyer held that there was no power
to coerce a State to appropriate money to
meet her obligations-th the Constitu-
ton provided no remedy for such a case.
From this Mr.. L. argued that the holders
of the State bonds could not compel the
State to pay, because the trainers of the
Constitution had not provided them with
remedy, and had expressly denied to the
States the power to create obligations of
that character; that the holders of the bonds
were therefore without legal claim against
the State--for where there is right there
is remedy. In concluding this subject
Mr.. l.. declared it libel upon the fair
fame of the great men who framed the Com
stitution, to hold that they intended to
allow the States to issue their obligations to
any amount, and then to deny to the hold
ers of those obligations any adequate
remedy to enforce payment of the States.
am thus particular in giving you at
length the views of Mr.. l.. on the subject
of State bonds, because have not seen his
theory advanced heretofore by any one i'll
this State. Upon any question relating to
the interest of our party, Mr.. L. eyinces
| the same ability that characterizes his
| speech from which | have quoted in the
| foregoing. 1t being quite late, Mr.. L. was
| forced to conclude what was admitted by
| all who heard it to be an able and eloqueHs
review Of the great political questions now
agitating the public mind.
Generous and courteous to his opponents,
| indulging in no vulgar or abusive clap-trap,
| Mr.. l.. is daily drawing to his side friends
from all quarters of the country; men who
do not in many respects agree with him i'll
politics, say they will vote for Lewis be-
cause they believe he is honest and will
work for the best interest of the county
and State.
The Culpeper Obsruer, in its last issue,
thinks that sour political sky is overcast
and storm of no ordinary magnitude is
brewing" The late news from Ohio
Tennessee and Iowa seem to make the o.
scrcer man feel rather doubtful about the
political situation. The Observer says
"The Commonwealth Of Virginia is in dan
ger and the people are asleep. The sent
nels have sounded their bugles Of alarm
and still the people sleep.o The people il
this section cannot sleep long without be
ing disturbed by Democratic tax-gatherer
The sspeople' have got their eyes wide
open, and the Obsevo, with all its brillian
additional force, in the person of the tai
ented young man who has but recently
come amongst us and cast his lot with thu
Obsapa', cannot, by appealing to th'
prejudices of the people, awaken them t.
the peculiar ideas advanced in the Obse7ce'
But enough of this. am trespassing up
on your time and space. see from you
columns you know how to handle all sucl
Democratic sheets as the Observer. Ii
conclusion all have to say is pour it int
them until they run up the white flag.
A REPUBLICAN.
l