The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-12-27
State Credit
no y,o,,ao,n Republican says

State Credtt-
The Loudoun Republican says
"Tbe Richmond Dispatch, along WI" H. a w.
.4A.ss,osar,, the Enoslirer,--which Is eG-
ssnas,, nn,,snoiIed In the interests OF tne nohu.
sa,S.rsN.are now larping, as they qua asI
Ac. ,ho,,, the fsacrcdness OF our PUBIC
s "an' This all sounds like sweet music 10 q
.s-",, man. but when fellow Is rackeo anu
t,rsurcd by continual gripes he cares precious
,s..,n abont the music. We'd like to know
Who the people of Virginia are to keep iai1h
with"
The Dispatch is consistent at least. 1t has
always opposed stay laws and the repudiatlon
OF private debts, as well as the repudlat'on,
In any way or by whatever covert means, o.
the State debt. We have no other interest
In the question than that which every Flr'
sdnian ought to feel, since we own none OF
the State bonds. But we are unable 10 SET
the difference between the reputation OF
nrivste debt and the reputation of q pubnc
one between refusing TO pay debt all OF
which We owe ourselves and refusing 10 pay
our part Of the State debt. In Young
for the election of a repudiator to the
General Assembly, or for the justification OF
one who was not elected as rcpldntor,
each man docs in fact cast his vote an Jaro7
of rcpudiating has part Of the pubac deb''
Do YOU own ten thousand dollars worth OF
nroperty? Then you yourself owe certain,
fyed proportion of the public debt and II
Won should shirll the payment OF that pro-
portion, or Of the interest upon it, you DO IN
effect rcpudiatc your own debt. You do this,
too. without excuse; for no man owning ten
thousand dollars worth Of property, and
owing debt of one-ffth or one-tenth rs
much. would be considered honest should he
refuse to pay the principal, and also refuse TO
nav the small sum of fifty dollars per annlm
~ consideration for the continued use OF
the money.
We care not what the brokers paid for the
State bonds. If the bonds were low, the
fault was ours. 1t was our fault that the man
who lent lis q thousand dollars in gold upon
q thousanG-dollar bond was compelled to sell
that bond Tor one-fourth or one-lalf the sum
which he gave for it. Shall we De allowed
to take advantage Of our own wrong? Would
this be any better than buying up our own
individual bonds at 4 discount with money
which we ought to pay out to the holders Of
those bonds: Who will rise in his place in
the General Assembly and propose that the
Auditor be required to purchase State bonds
at fifty cents on the dolla: with Tie two mil
lions Of dollars now in the State Treasury:
who will pronosc to take the money due
49, and G &c interest upon State bonds
tho,. VOW ,,o,d o,d n,,rchose fro,,, thcm ut
half nrjc,. = part of those bonds? Would
TINT he dishonest, Then it were equally dis
honest to buy our own bonds now for half
,,,;r, l,,ca,,sc few wears ago they were sold
1T ''H'' l'i''' =.
But We cannot rc9"oEltc we would
Should we try 10 90 50 We would find our
serccs and orr S:a.r 80 di.nrpccd and de-
,,,,l,a :, o.. ,yt;,no.;o, or honest mon thc
,, .,.. ,,,,,,, ,,.;.,,;x, fn,,
WORTH "''' "'' Wv "".''' wan" ~"
years, like the people OF ILLINOIS,, demand tilaI
we should lc taxed To wipe ont that dis
grace.
The late impctuo"s demonstrations Of the
Legislature upon the credit OF the state have
not failed to surprise people at 4 distance,
and to disturb and shake the confidence felt
In tho good faith Of Virginia. We could lay
before our readers columns OF comment
from abroad that il would b" painful to read.
We have before lis the Journal Of Commerce,
one of the very best friends OF Virginia
amongst ali newspapers published outside OF
ltei oo''il''''NS' s.S'''s' "a. oo". "Nt "
Io"'"''''' - '''' W va. 'I,o'' "''o nu 'u''
VI - '''"' ''",@' w '' -r.,
~ '''' >'-'''''' - '''' ''''' "a '1'0 '''9
I'VE regret 10 see Virginia eullor using
e.' t "a ~ w T.iI p," ntho ~.o os
In,aSi os ,r(l, ne NJ '-root I,anNas We find in
tho Richmond WHO Snoakinr of the money
l., +1,. t,.o,e,,,x, E,, ,,,pra tl,n opnrpb IN
nav the interest then due on the debt, that
l,n,, pl,nn