The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1871-11-01
WHAT HAVE WE DONE THAT OUR
ENEMIES PRAISE US!

WHAT HAVE WE DONE THAT OUR
ENEMIES PRAISE US?
Virtue should always be suspicious,
when vice applauds it. Still it is pleasant
TO be able to force even unwilling homage
to our own correctness and rectitude. 1t
was with that feeling, we read in the En-
qni,cr of the 10th just tribute to the
enlightened views and broad statemanship
of the Republican party ON the subject of
State debt, taxation, and the Funding Bill.
The real difference between US and the
Democracy is this: We would preserve the
credit of the State untarnished, be just to
ourhonest creditors, and at the same time
have regard for and ~tenderly alleviate the
present intolerable distress of a deeply
afflicted people, while the Democratic party
is only in favor of justice and State honor,
al illustrated and explained by the Funding
BIZ. No two parties could be further
apart, no separating line more impossible,
bat men sometimes believe themselves re-
ligious when they are only bigoted and
s,Iperstitious, or they think themselves
saints when they are only sinners, and we
suspect that the Enquirer being in some
what that condition may not after all be so
nearly i'll accord with us on the subject re-
ferred to, as it supposes. We therefore
propose to show how these two opposite
views work themselves out into actual
practice, and then ask which side the En-
q,firer takes.
We maintain as the result Of onr princi-
pies that before one dollar of the coupons on
the funded debt should be received for taxes,
enough money ought to be accumulated in
the Treasury to pay the current expenses
Of the State for the fiscal year, and
to secure that object, we arc in favor of the
passage of a law allowing a deduction OF
from five to ten per cent. to taxpayers who
pay their taxes in money, mot coupons) be-
fore a certain day. "
The Democratic party insists, as the re.
sail of its principles, that these coupons
have priority over all other State debts, and
that the provision allowing them to be re-
celved for taxes is contract, perpetual in
ration, which cannot be repealed, and
that the coupons must be received in pay
ment of taxes, although as consequence
there should not be one dollar in the trea-
sury to pay current expenses. 9.a.o
We maintain that the burthens of the
people are already as great as, they car
bear, and that neither the amount nor the
rate of taxation should be increased one
dollar until the people are better able tC
pay than at present. The Democratic
party maintains that the interest on the
funded debt should be paid at once, and il
full, whether anything is left with which tC
pay current expenses or not.f
We maintain that the people ought not tc
be required to pay their taxes before thu
money is needed, that to force them to pay
in September, when the money will not BE-
required until January or July following
and one-half at each of these periods, is
unnecessary, harsh and cruel, and that il i:
oppressive and unwise to force them tC
borrow money at twelve per cent, or sacri
flee their property to raise it for taxes, tina
Mr.. Rye may loan it to the Richmond
banks at four per cent. Tho Democratic
party insists that the people should be
forced TO pay their taxes at any hazards BY
the month of September, and that thu
suffering and distress which is caused there
by, is fully compensated for by the foul
per cent. which the State receives from thu
Richmond banks. alss.ss ss.at
We maintain that the Funding Bill actll
ally repudiates one-third of the debt fol
the time being, by tlishonorably forcing its
creditors to fund their bonds or receive
nothing. The Democratic party maintains
that it is honorable, right and just to repu
date to that extent, and in the manner
mentioned.
The Republican party maintains that thu
Funding Bill mfcts upon the Common
wealth the dshonor and disgrace of repu
diation, without the possibility of deiivin.
any benefit therefrom; and that the rea
design of the measure is to enable money.
shavers and bond-brokers to buy mp Ger
ticateS, for the repudated onc-tlird, d
low rates, and then pass another Fundin:
Bill, by which these certificates, principa
and interest, will be paid in full but wha