The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-01-06
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We publish In another column an article
under this heading, and signed "a Radical
Republican, taken from the Richmond En-:
qsstrer of the 2Sth nltino, tsi,iph,s WORTHY
Of the serious feilectioh not only, of eyery
Republican, but or every yirginian. Our
Legislature, "rlot having the fear Of God be
fore their eyes, but being instigated BIZ, the
devil, grarely propose 60 iiscfedit our no.
BILE old Commonwealth by refusing to paS
the interest on OUT State debt, due on the LIST
Of this month, which, by q solemn act of: the
last Legislature, we are bound to sdo 6y a
contract ,ctM the creditors Of the .State--and
this foul iniquity is proposed; and SO far has
been perpeGuted with ample funds in the
treasury to fulfil this solemn obligation!
This act Of villiany will aid a few ,specula-
tors, and no one else! The dear people, in
whose behalf this glaring Tweedis1n Is pro
posed to be attempted, will receive from this
monstrous violation of political morality no
benefit. The contract will be enforced and
Virginians will have to pay the debt. Yes,
they will have it to pay, and that after being,
as people, stained ,cith dishonor.
This dannablc sin finds its advocates in the
Legislature and in some newspapers. The
article we have referred to as worthy Of re-
Election was called forth by an article of the
Ecen'ng State Journal, published at Rich
mond, which says that Virginia has "foully
dishonored her good nane,o and good deal
more Of such foil abuse.
A native Virginian may. be pardoned for
seeing Virginia In very different light. Our
object now Is not to discuss the right or
wrong of our late civil war, but to warn the
Republican party and every honest man in
Virginia to discountenance such utter dis
grace as will come upon Virginia if the Le-
gislature shall dare to be guilty of the crime
of repudiating the State debt We warn all
men to "touch not, handle not, that unclean
thing" ,-..-...--.-.-~--,
One Of England's kings, to relieve his
treasury, once undertook to appreciate the
value Of money-that il, to make a pound
sterling when he paid money pass at higher
value than it bore when he was 6orro,cer.
For instance, taking our dollar, which when
he borTows is worth 100 cents, but which
cents. Well, what followedY England be-
imprisoned, and his son reigned in his stead,
and his ministers, one or both, were be-
headed.
Credit of all things is the most sensitive,
and once lost is very hard to be regained.
What will be the immediate effect upon Vir-
ginia if she repudiates her debt has been very
well depicted by those Of her sons who turn
with scorn from the foul deed. No one will
trust the State, or her citizens, or risk their
capital among set Of cool and deliberate rob-
bcrs. Asia Minor was once the most popu-
lous and fourishing portion of the earth, but
bad government reduced it to one Of the
poorest and most miserable, and so bad gov
ernment-tlat sort Of bad government that
disregards the rights of "nc,tn and tnunl,"
will bring to ruin, misery, and depopulation,
any country.
Let men reflect upon what load Of debt
our civil war entailed upon the United States,
and see how good faith and fidelity to its
contracts has built up, confirmed, and
strengthened our national credit. With a
debt of some four thousand millions of dol
lars, our national currency sank to fearful
depreciation, requiring over two dollars in
currency to buy one dollar in gold BY
steady, honesty, and prompt compliancewith
its contracts it now only takes one dollar and
nine cents to buy one dollar in gold, and
United States stocks range from sos to $115
for one hundred dollars worth Of stock.