The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1871-04-06
Judge A. d. Cochran.

very imperfect and unsatisfactory idea of
speech can be obtained from the meagre reports
given in the Richmond papers But as it is the
best we can do, we transfer to columns from
the Richmond Wing brief synopsis of the
speeches made by Judge A. 3, Cochran, pending
the consideration of the Funding Bill The first
was made on the 25th inst, when the amendment
of speaker Turner was up, declaring for Gle
reputation of one-third of the State debt.
Judge Cochran advocated the hill and oppos-
ed the amendment, saying that he raised his
voice for the last time on the subject. There
should be no uncertain voice on this subject OF
plighted faith, AS representative of the great
| county Of Augusta, which, under the new assess
ment. would pay more taxes than any county in
the State, he wanted it underst God that her peo-
pie were for paying the State debt to the last far
thing land the national debt, too, he adds d III
reply to the question. He argued that nothing
could be gained by adopting the amendment o
Speaker Turner. The courts of the country
would intervene and enforce payment if the debt
was due. Late action of the Supreme court
showed this. This proposition was reputation
without any of its fruits. How can it be ascer-
| tanned that we owe two thirds and more? He
glanced at statistics to show owe more. If we
are going to repudiate, we should secure its ben I
efts. He replied to the nom intercourse argu-
ment. Admitting, for the sake Of argument, the
fact of nom Intercourse: he said that new bond
would take the debt GU Of the operation of that
principle, and argued that such d bond had been
given. by the action of the Legislature. He de-
plored that he who had been elevated to the
Speakership of the House should be the first 10
tarnish the name Of Virginia by proposition, to
repudae. lie spoke Of Mississippi-the effect Of
reputation upon the standing and credit of that
State and Of the humiliation that still clings to
|. I'M Il
who advocates reputation in Virginia. He may
gain temporary elevation, but disaster and shame
will eventually overake him. The honor of Vir
gnia must be protected-it must not be battered
away for gold. One Esau sold his birthright for
mess of pottage. The gentleman from Kappa
hammock seemed anxious to follow his example,
The honor of Virginia was the heritage Of every
one of her sons, and it must not be barteredaway.
He spoke Of the widows and orphans Of the State
who had nothing but State bonds. He appealed
to the colored members to go against renudiation.
Should this question be carried into the next can
vass, he for one would choose political deai h
rather than advocate it, HI would do no such dirty
work as reputation, even should he be chosen by
the people to do it.. Virginia must look to her
credit and maintain it. He regarded reputation
as the poorest means of escaping from obliga
tions. Ii we would attract immi grafton and cap
ial we must assume this debt and pay to theta
farthing."
The second speech was delivered on the 28th,
and was in response to one made by Maj, Daniel
of Lynchburg who was opposed to the Funding
Bill, and the assumption Of Virginia of the debt
Maj. D. had complained of the taunt of repudia-
ton that had been made against him and those
who thought with him, and said the time was in
the near future when they would be considered
the preseryers of the States honor, and those who
favored the bill would be frowned out of public
position. Es
Judge Cochran said he would brand as repu-
diation what he regarded as Reputation He
had nothing to do with stock jobbers, about
whom so much had been said, and did not a
single bond He had no pecuniary interest in
the BILL His county had less than almost any
other county in the State, yet she was willing to
bear her portion of the burden Of taxation in or
der to maintain the credit Of the State He de-
Tended the Finance Committee, alleging that they
had considered and discussed the subjeeta thor
oughly as they could--in all its length and
breadth, and in all its phases. The bill pres en-
ted BY them proposed to fund two thirds of the
debt, principal and interest, and leave the re-
mainder subject to settlement with west Vir
glnia The latter State he thought, and many
Others thought, did not owe more than one sixth.
Could Virginia. under such circumstances, do
less than assume two thirds lie argued that the
accrued interest was as mucn q ueDt anu as Dlnu-
ing in ionor as was the principal, and should be
provided for in the same manner; The bond
holders ought not to be deprived of their rights,
because Virginia had them in her power, II was
her solemn duty to deal fairly with her creditors
II the bonds arc held by the devil himself they
olght to be paid (this in reply TO Mr. VIM who
suggested that many of the very bond holders
who were pressing us were men Who during the
war, Q | aided in destroying our. property and
SufStance.l III e estimated the loss that wauld
tail upon bondholders if the amendment should
prevail It you'd be more manly 10 blot out the
debt at once than to try to get around it by this
amendment. which was, If anything worse than
the amendment of the member from Rappahan-
mock. Pe appealed to the House to stand by the