Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1872-01-16
An Extraordinary Statement.

An Extraordinary Statement.
We clip the following extract from letter
dated Richmond, January 3rd, signed *"
and published in the Baltimore Gazette Of 4th
inst:
RICHMOND, January 8.
Editor Baltimore Gazette:
Governor Walker yesterday vetoed the reso-
luton staying the funding of the State debt.
1t is hoped and believed by the people of this
CITY and of Virginia generally, that his veto
NAV be sustained. The effect of the bill is to
destroy the credit of Virginia, and is virtually
reputation.
The present Legislature is composed of
| number of young men who have been too easily
| led into the movement without consideration
and forethought. They were also misled by an
| greater deficit than there really is.
| Another cause for the passage Of the resolu--
ton can be attributed to the fact that General
| Mahone's road, the A. NJ. & o. r. r., owes
the State 100000 in State bonds. This, at
sixty-fve on the dollar, is the nice little sum OF
| So, 900 600, but at twenty-five cents would only
| amount to $l,000,000, clear saving to the
road and loss to the State of $1,000, 00O-
| The members from the southwestern counties,
4
are the loudest In crying for the stoppage OF
the funding, and for not paying the January
interest. They are not men of the brightest
intellect.
We can hardly suppose this statement to be
true, for to say nothing of the discreditable
character Of the purposes imputed to General
Malone and his friends, we can not believe
that Gen. Malone would be so short-sighted
as to seek to bring discredit on Virginia and
| all her interests. 1t is well known to the pub
lie that Gen. Malone will find it necessary, In
order to carry out his railroad connections, to
borrow fifteen millions of dollars, upon the
mortgage provided for by the consolidation act
Now, unless Gen. Malone is far less sagac.
ious man than he is reported to be, he must
see, at glance, that if the plighted faith of
| Virginia is broken, by measures tending to re-
pudiation, all hope of negotiating his proposed
loan must be abandoned The railroad corpo-
rations are the creatures of the Ssate. If the
State fail to fulfill its contracts, capitalists will
at once see that it would be unsafe to trust their
money In the hands Of a corporation which de-
rives its existence from and are subject to the
control of the dishonored State. 1t will reason
ably be concluded that State which will not
pay its own just debts, will not give its aid to
| the collection of debt due from one of his
corporations. Capitalists will anticipate that
whenever an attempt shall be made to enforce
the mortgage, the same cry against 'bloated
bondholders" and in favor of making terms"
with them, in behalf of Impoverished citizens
of Virginia, will be raised and probably an
offer made to substitute bonds bearing three
per cont" instead of the rate stipulated in the
contract.
Capital is sensitive, and it will, at once, shrink
from inverting in any such doubtful securities.
The question of labor, says contemporary,
is one of the most difficult that has ever ex-
ercised the minds of statesmen, and is begin
ming TO loom up In the politics Of this country.
Many of the greatest commissions that have
shaken the world arose from the encroachments
of capital upon labor, for almost every species
Of corruption is an endeavor to gain capital from
the consumers without rendering an equivalent.
La this country hitherto special legislation on
this question has not been demanded. Rapid
development and the cheapness of land have
enabled all who were anxious to work to secure
employment at remunerative figures. In Eu-
rope, however, and especially in England, the
difficulty lies in the fact that those anxious to
labor can find no work to do. The wages paid
also are often barely sufficient to provide for
each day the necessary subsistence and shelter,
leaving no surplus for increasing families, the
disabilities of old age, or period when no work
can be obtained. This state of affairs has been
brought about by the association of capital The
working men begin to perceive that their only
means of successfully opposing, it is by associa
ton among themselves for their own benefit
1t is query for the future to solve whether Or
not these associations will be strong enough to
secure legislation to protect their interests.
Wise craftsmanship will endeavor in this
country, by guarding the interests of the labor
ing classes, to forestall such condition Of af-
fairs as perplexes European governments, and
to lead all classes to feel deep and abiding in
terest in their common country.
let no man who sincerely desires to witness
a reform in the public civil service de-lude
| uitA tuO UClICi tudt lAO OCudtC
committee Of investigation will do anything to-
wards ehecting that end. What can the two
Democrats accomplish, with five carefully pick
ed Radicals against them? All the latter as
sisted Morton, Conkling, Chandler, and Ed
munds, to vote down Mr., Trumbull's resou-
ton, and went subsequently into caucus for the
expresses purpose of defeating any real attempt
to explore and expose the corruption that per-
vades every department of the service. There
woald have been no committee of investigation
appointed il the Grant Senatorial clique had
not felt that popular feeling on the subject was
too strong to be resisted. But whilst they
have yielded an apparent acquiescense, they
have sought to avoid damaging revelations,
firstly packing the committee; next, by
overlooking it with work, and, finally, by pro-
posing to make the session short one, and
thus choke off the committee in the midst of
| it's labors.
| HORRIBLE OUTRAGE.-In Rochester one
day last, little girl about twelve years cid,
was outraged by negro named Howard. The
negro Was identified by the little girl, and was
lodged in Jail. 1t was with the greatest diff
fculty that the police, assisted by several COM
panies of soldiers, could prevent the populace
| from IvncIinp the sconDdral The soId;arc