The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-02-09
The Public Debt.

We do not endorse the following commu-
nication, but publish it to let its author be
heard: .,
'.t Mr.. Dispatch: hope you will pardon my
presumption in Offering feeble say IN mat
ters of great moment when | assure you 1t Is
nv first offence, having never heretofore ven
tured word to the eyes or ears of the
people" happened to pick up copy Of
nv old friend the Wing, and was forcibly
struck with its position OH the question OF
the public debt. After reading several edi-
torials, and voluminous correspondence
from "guns of heavy calibre," and that
svren song Of self-laudation in its fancied ap-
proval which it claims to have met from that
greatest of all demagoguical sources "thc
dear people," the conclusion forced itself
upon my mind that the Wing and its cor
respondents all wished to avoid the dishonor
of repudiation, but still don't want to pay
the debt. Ali wish to "rlm with hare and
hounds" We are warned not to "goad the
people" with more than they can bear
never word of sympathy for the fe,o people
of Virginia VINO happen to be unfortunate
enough to hold Virginia bonds. @ Hit him
AGAIN., for he has no friends" IS being acted
on grander scale. The Wing and its sup
porters must settle on what are " THE people"
able to pay. The question never seems to
arise, What arc the fer Virginia bondholders
able to pay? There are few whose all con-
sists in these bonds. They have been paid
interest in Confederate money for five years,
and one per cent. ipterest--seml OCCASIONALLY
in deprecated greenbacks now and then,
and vet they are all "6loated." We hear
the old song that this debt was contracted
upon the faith of our negro property, and
the enhanced value of our lands then
compared with now, and as Yankee
Doodle has stolen the negroes, and our
lands in consequence have deprecated, hence
we are absolyed: Has the thought never oc-
Cured to repudiationists that the negroes Of
Virginia bondholders were not exempt from
the thieving Doodles; that their lands Gf
they hold any have deprecated as well !?
And yet the majority report Of the big conl-
mittee propose to make these few bond
holders pay one-tIaird of all they hold ut one
blow, and an annual tax Of three per cent.
upon the other two-thirds as special tax. in
addition to their portion Of the bulthens OF
county and State. in common with I" The peO-
ple" Was ever legislation more partial!
third cash of the principal, lie taxed an
the two-thirds, and then come In for their
share with the poor, dear people in paying
the additional three per cent. AIR. Mosby
will not long be able to boast that he has not
"outliyed Justice" We must do one Of two
things: Pay the interest and take long time
on the principal, every citizen bearing Ills
just share; or, by reputation, make tAe few
shoulder the principal ut once, and still come
in for their share Of the balance--and these
few people the ones who have been good
enough to lend the State their money to build
her improvements, &c. 1t has been shown
by the Governor and others that we can pay
the interest without any additional taxation.
Why not try that plan tirst3 OF all the votes
cast against the funding bill not one has given
any sound objections to it. But if our LeSis-
lnture are bound on reputation, don't strike
the poor Virginia widow and orphan in
their efforts to hit West Virginia and the
northern creditor, but meet them face to face
as did the husbands and fathers of these
(bloated y widows and orphans, when they.
consecrated by their blood the soil that the
Legislature is now dishonoring. Have the
courage to discriminate rather than iul-
poverish your own people in order to avoid
a debt to the North. Have board of sound,
discreet, honorable men, Of age and financial
experience. Let them ascertain the amount
of the States Indebtedness In 1861. Also the
proportion of that debt due to Yirginians or
southern people. Then issue to them new
bonds, funding the unpaid interest, bearing
six per cent. interest, and payable semi-an-
nually. Then ascertain what proportion of our
property (negroes and alD has been stolen by
the Doodle Government, and rapudiate just
to that extent and no more that portion Of
the debt held out of the South. Then let the
State OF Virginia proceed against West Viz
ginia for her portion of the balance; but if
She cannot recover from West Virginia, still
continue to pay her own citizens. Say the
debt of sixty-one was $30, 000, 900; of this
amount the South holds say SIC, DOC, 0O0:
issue bonds for this amount with unpaid in
terest. Then, ii the value Of our negroes and
| the depreciation of our Lands amount to three
fourts of our taxable property held in 1s6l,
wipe out Sl5, 0e4, 00e, threefourths OF what Is
left, and issue bonds for the other s., 000, Ou0,
payable when a just proportion OF the debt Is
| paid to Virginia by West Virginia; theR call 3
convention to re0rganize our abomlpable
county system, establishu chain-gang i'll every
county to build and repair roads psss'a
general fence law tax the first dog on every
| farm or lot 81, the second one IS, and every
additional dog oyes two, %; tax every bitch
T. a