The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-12-16
Tho Funding act.

From the temper displayed IN the t'o".1
Of Delegates yesterday in oroei'"s a;no
eayroasmcnt the joint resolution '"'i
"a. .,,a;,o Of The State debt we i'ii'1
a.. M ac;si,turc is determined not 10 pro-
e,,ea with the payment OF interest VII WV
,,,sc Hc,t if 10 DO 50 shall require an III
- # taxes. Tic very large vote gwen
!, Aror of the cngrosSmcnt shows the party
,<.,oacd 10 the increase OF taxes 10 dc qu'c
,,..o,r,I enough 10 contro! 4; least that q'tcs-
tion.
do,.. not follow that the SUSPENSION OF
tho funding process is indicative OF a scn'i-
u,sst in favor of reputation. The preteNt
sr suspension is 10 get time to examine inc
rao,,rccs Of the Commonwealth ana 10 sec
A~r,y whether the State can 60 on paying
in..r~st with her present means. That Is TIC
avuwed object, and it is very wen 80 10 u''-
Gs,tand tic purpose OF the Legislature "'
we have NJ idea that In" people "i "s''"'
au,tcroriatc ANYTHING like Repatriation OF
,.xr OBLIGATIONS. or that their representatives
htsnd TO place them in that light before Li'e
world
va have been the unwavcTin" advocate OF
,,a maintenance Of the public honor. we
bsvs considered it All error 10 lund lic NJ
oruei interest upon the public debt; BECAUSE
fiat VIC thought wrong and a. furnishing III.
argument 10 the class o.: people WiioalcS II! t'u
rspudlationists. The debt Is heavy enough
v-ithou; piling up interest upon interest 1of
rho oeoplc 10 nav. Still this was the act OF
the peoples Representatives, and cannot no"
b rcpudiated without loss of honor ana an
Injury to the public character which would
,tger- the solid interests Of the people ana inc
fste.
We rcDc.t, we are FIR from believing that
there 4 to be rc;y;!diat;on in NIr-Ina. A't'r
jr0ui.1 into the resources OF the Stale, gen
t,nDcn VIII conc sq,mrc|y in front OF The
crcStion about the pG,mcnt of the pubic
olligstion>, and should calmly look it fun in
the face. Thai tie coupons attached to til"
s1w bonds must be received i'll payment OF
tsx5e is indi>putab!c. The State cannot avoid
the contract growing out Of the issue oil those
bonds. Thcrcarc numerous questions that VIII
h suggested ~ this point i'll the consideration
OF til: subject which should bc treated with
d"iilnratou aud an eye >in@ly to the Weiar"
and honor Of the Commonwealth.
II time Is What is deemed necessary, that
should be considered earnestly and unbiased
by any spirit of party or dcm%o@iSm. Ii
cannot be denied tilat we have had great
deal of time. On the other hand, If cannot
lie denied that Our people have been OPP
pressed BY misfortune. and even more hy the
policy Of the Government, which kept alive
apyrcLcn>on md doubt, 80 destructive to
public energy and industry. IN addition TO
this orr people have been hurthcncd 10y the
heavy and harsh taxes Of the Federal Go
ycrnmcnt, that have helped 10 cripple both
public and private means. Yet, notwitGI-
standing al these matters, we arc strongly
Impressed with the belief that there i, much
eyaescra!ion in the representations of the
poverty Of the state.
We warn gentlemen To Dr guarded how
FAR they are led into faith in the reports that
nl-o E.sdc. The questions Of taxation and the
undng bill suggested issues nj the polls,
and candidates sought seats in the General
Apwc:ably hv warmly e:nyassng those iS>lic>.
1t r easy for men in heated canvass to rC-
lrSrrc tl.cr stories, with daily increasing
bulk. until they believe them. 1t is hunan
nature. And when men are elected who run
III upon tie cly Of n reduction Of taxes and
more time TO pay the public debt, they are
bound to move in the Legislature to carry
oft their promises. They viii here rchcarsc
the stories tlicy believe, and will press their
views earnestly. But in The Legislature there
b something more to lie done than to de-
calm upon taxes and stockholders. What
tIan that be?
In approaching that question no man
should think of staining the honor of his
Stale. Every one should look at the facts.
A tax OF liity cents on each one hundred dol
inys Of value is not heavy. 1t would seem
tlNt any man who owns thousand dollars
worth of property ought to be able to luy
fce dollars. A little latted pig would pay
that sum. Aud it would hardly seem that
people were driven to desperation by a tax
such as that
It Is noticeable that tho greatest cutlery
against paying the interest on the public debt
comes from some of the very richest sections
of Virginia. There ere parts Of the Valley
which have sent delegates that Were called
rcpudiationiSt7, the resources Of Which are
grand.
II is no Difficult: matter To run r,nnor of
distress TO extravaganza. Men are prone to
painting the pictures Of calamity in the
strongest possible colors. Let every man re-
wise his edition Of popular diScontcnts. Let
every man criticisc what he has heard and
read Of tho public suneringS narrated for
personal or party advantage. Let them do
this, and then Let them approach the subject
Of what is to he done with the public debt,
and we believe Virginia honor will be slls-
tanned. Pass your resolutions and your bills
s,lslrndiug operations 10 see how things
stand Do that, and then come to the main
point In the true spirit Of devotion to the
State, ard We cannot doubt that the Lcwisla-
turo will preserve tho good namu of the
Commonwealth.
We regret to observe that some Of the
Richmond delegation manifested want OF
,utI Ca tl..., "a.