The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1871-08-09
GheG2teItiqetrter
The Public Debt.


From yesterdays Register.
. The whole debt amounts il
round numbers to about Forty Millions o
Dollars (4O,OOO,0OOy. Assuming the mos
favorable estimate mentioned above, ou
share would be Eight Millions Is SOOO,OO0)
and our Constitution requires that sink
igg fund shall be provided Sufficient Il
pay the aCcruing interest and redeem the
principal within thirty.iOur years" The
interest alone, At the rate Of six per cent
would amount TO -Four Hundred and
Eighty Thousand Dollars and one thir.
ty.fourth part ol the principal would GX.
cGed Two Hundred and Thirty-tlye Thou.
sand Dollars: making together the sum
OF seven hundred and fifteen thousand
dollars ($7l50OO) to be raised by taxation
for this purpose in one year The total
estimated revenue of the State for the
present year, exclusive of the school and
hospital fund, Is $333,679. To provide,
therefore, for the payment of One.fif(h of
the public debt of Virginia in the manner
fixed by our present Constitution, will re-
quire a tax levy for State purposes more
mdn three times as large as mao. Can we
payit?
"Can we pay IT," Is not the proper
question. We must pay 1t if Improperly
in the State is worth it, as we know it is.
But the question is whether with such
a prospect before us, we ought now to en-
Ter on the necessarily expensive operation
orreConstructing our system of State gov.
crnment, il it were true, as 1t Is not, that
It's defects are such rs to justify Conven.
tion under any circumstances. To talk
about this as measure of economy, rs the
Register does, Is the sheerGst folly, and can
deceive no intelligent man. The persons
who are pushing this scheme care nothing
about eConomizing the means Of the State.
They are after the treasury, out of which
they have been kept till they are well nigh
iamiShed. They know that under the OK.
isting government VIC have the most
economical State government in the
Union. That, If the truth must be
told is the real ground Of their fault find.
ing The talk about wanting moro
economical government is the veriest
hypocrisy and demagogueism that ever in.
suited an intelligent people. Who are
urging this scheme for a Convention
Look around you in every county. Are
they not adventures, briefless lawyers,
bankrupt and broken down party hacks,
men who aspire to place and power, and
others, who have schemes and enterprises
which they expect tOpromOtc by changes
in the organic law A few men we re.
grct to say, who have no selfish end to &C.
complish, have allowed these men to work
on their party feelings; but all over the
State the active partisans Of this scheme
are men who are aCtuatcd by mcrcenary
purposes
flour people attend this dance to which
they are so spcciously invited, they may
as well make mp their minds that they
will have to pay for the tddling The
Convention will cost large sum in itself.
The legislation which will be rendered
necessary by it will cost many times as
much. There Is no luxury, save the single
me of war, 50 costly rs legislation. Then
/ Is morally certain that the new govern.
nent will be far more costly than the
PRESENT one. lfnot the promoters OF the :
resent scheme will be greatly dlsap. I
'olnted. They want to fill the offices {
3ut they don't want to fill offices +
That will not pay. They want to enlarge I
he number OF Judges and to largely in.
nreaso their salaries They want the sal. ,
Itles of all the State officers increased. /;
They will hardly put this IN the Constitu-
ion, but they will secure the result MS
srtainly by taking away the present re-
trlctions and placing tho power to regu.
lts salaries in the hands Of the Legisla u
IRE. :,
We have no assurance that the gov. n
will be made more economical Il
single particular. There may be r
III oStentatous show OF economy in some Il
Uarters, but II will asslredly he over. 5
'aIanced by quietly piling up cost in T. T.
'thcrs. q
We may expect that large inroads will &
!" made on the revenues by rXCmpting "
property OF corporations, and that big u
Icbl, with heavy annual interest will be q,
astencd on us to assist enterprises that 7
'ught to be left entirely to private capital 81
'ome township officer who gets no salary !. IL
will be abolished, on the one hand, md n si
Ieht Of ten millions to build railroads to
he wild lands of some Of these advocates
u Convention, will be fastened upon the v
state, on the other hand. That is the kind y y,
II economy we will be treated to. e,
flour people are wise enough to let ri
veil enough alone few years, till weget o.
rom under this old Virginia debt, all may a., ~
e well with West Virginia in time. If W
hey go Off on this mad crusade against to
he existing system Of State government, W
1.-THE bidding OF the leeches who are ready f.
D suck the last drop from the treasury, III
l'h the time will come when they will
Utterly deplore their folly and vain re.