The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-02-22
For the D'Hpa''n'
u,s,n pul,lic HCOt.

la"'l' VIZ WEI, "oontricsed. and for which thcse
49,; ,,.'r. executed. The remaining t"''
49, v.rcc ,,oD,inaiy constructed by sup
' ''.,:, of individuals. Whenever II WI
n,,'.tnd ll,at these two-.iiths had been SUI
s.ri,na the Auditor was bound 10 luf'is3,
81, S,te's t..ree-ftliis. Many oi ine>c SUI
.rv,g,trns Turned out 10 I've uha'''''"..' ',,
the money put in by the >'atc, % i ,,'ai,,.
furnished by tho lenders 1" inc 7''.t -" tt> ~
constructed neale. loGr-ithS t'.'' IVA ,a,,,,.
n these works. Should tic piocc>soi '> d,,d
d.3,icn. now 50 seriously lui c"''. .,,'.a nd.
.,rt,,.I,y commenced, be carried OUT ''i",' ''o
,,n"ir.. hi, money will DC made 20 c0'sa'i ~.
s,,,.'T..'s ~ oIi the public improvements
1:ir,,;pi, and West Virginia ana 4't"n'
:c. y ,hn,, tn ihe,c states. NO" IL ",ioi'
-, i,.,us wrre made, the persons i'tN',S
.ha,, had been required y! i'll" " n'n,
t,,r.c works, every one "o'ilu nav - wv >',r,
.,-Iin.t The tnormity OF il. " mere i'll le'',',
al i,,sl;re. is the difference between s"'it =
I1w And one scluC.nS these peopie i'''o III.
Iaan OF their money. and amer ~ pay n'.i'
and the construction OF the WORKS; 10 ueii'
tie return OF il to is owners. III ''' ''','',
if payncut Is denied, t.sey ou&hl 10 nave -
lra,,. the works this money has coll,tI"r'c'''
Bat no part has ever been tcnNereu tl'c,'.
the S>tltr llItiSI ltDlt t.It VIVA No s''-N'
thr de,,,, In conscience, rs much OF tiicsc
;,nn~nyamcuts rs their money created be-
lonrs 10 the owners of the money. nc>''
iny,,tmcn;s made by invitation OF tue IL"
mn lis ASSURANCES thHt they were sale, are
really property, and The denial Of payment l.
:. c,uIi,,.,iion 0: that property. " ny COZ
1i.r,,,. iii, and not all other properly:
RrnudiationisS are generally pt!IHled 10
.,,,rr mi. nuc.tion: 4 man has given hi@
bond for 81 900 il payment OF tract OF lahu'
the debt should be repuduted, but VINO Is 10
t...r IA. land. Inc answer Is. tlic ot MA,
n,yncr of the Ilrd-.hat t:is is al exceptional
- case Eut here the rcpudiatUr ihHi.!sAlngE
.,',..o. t,iaf he debt OF the State should DC
rrpudiatnd. anti the properly II cic:hcI IT.
famed IS the state. No !aah III private Trans
actions would utter such sentiment. i!Ao ne
10 respect for himself, tcar OF TIE co!iteniIa-
tjyu of others, the sentiment al low anu
,or,Iil mind, would restrain him. Nay, he
,vo,IfI have no credit or character left after
such an avowal. These small men, however.
,,.ri,rrrd in c;.ugS, OF like that coWaId!y ami
I'D. Tie sheep, in ilockS, become bold III
t;.ir... their numbers divide Responsibility.
,,,,', nur lys some one else to lay tn" act on,
and then t!!.r are headed by Struttla" iTnls,
whose ni.sh horns and higher airs thc COM
,:ion herd mistake for pluck, ana iooiiihiy
hone for protection from them when Tie CAN
Ger comes.
The state owned threc-tiltlis Of most Oh
these works, and was a creditor for vast sums
OF money loaned to them. Most OF these III
tc:cst, OF the State have been sold, the pur-
chase money to he paid in bonds due t'y the
State: and tie corporations i'll which these
stocks were, and who owed the State. 'c-
came the purchasers, either directly or lnal-
rcc,lv. Now these rcpuQiators, WHO have
charge of the public honor, pretend 10 pro-
coed on the ground Of natural right and jus
tee, and bv these rules these stocks ana
debts belonged to the persons who furnished
the money for them and ought to have bceA
distributed rataLly among tMcm. But repu-
diu,ion i, not the only idea Of these dcs.ruc-
tvs, but forfeiture. The above claims in the
pub Is works were authorized 10 be paid for
In b nds Of the state. Why puy these h0itds,
wnllo in the hands Of these companies. and
not All the other bonds. though they may yc;
!l.,in in the hands of those who actually
loaned the money: Are not one set rs bind
ing rs another? Why should these cont
panics, who hold ter bonds at Sc
conl-it may he the llorsnntll-hand,
and bought at = SOM, be allowed payment
By the ownership Of these interests in the
improvements and those whJ-r money &C.
tiiIly built them. nc denied al compcnSa-
ton! Oithc two il would Sccin 10 be Il mani
fest case in favor vi the lenders Of the money.
tac actual builders Of the works. All the il
tcrc-t Of the stat. i'll internal improvements
would have been sold hy III Gct Of The last
Assembly, they We're duly advertised. and
the time Of sale occurred during the present
session. But this idea Of reputation aud
conscation, new in Virginia, had craWled,
like v2lmi,, into the heads Of denlgo sEeS,
Who had no merit TO h:lSc any claim OH the
popular favor. They watcrcd, and worked,
and manfred it, in order to push it forward
hv the most rapid growth, and they add t.
the disgusting idea Of reputation that of COW
ti,cation. These sales are stopped-this means
Of using the bonds cut oil. The State must
not pay for the works, though size, and not
tllosc who built them. is TO have them OF
their proceeds.
Could the State 30 into legal bankruptcy
she must surrender her property Of I'll kinds
for payment of her debts. Let her insn!-
ycncy be as complete as these guardians Of
her credit and honor proclaim it to the world
to be, these bondholders would he the Only
pctit!onng creditors, and these interests i'll
the internal improvements, her chief assets,
they must be surrendered. Urluckily for
the unfortunate bondholdcrs. the debtor
iiao alone the power, rs the Keepers OF her
honor alicSc, to pass bankrupt act t. meet
her own case, and the sovereign dignity of
her honor makes an exception in her favor
o! the exemption clause in all bankrupt acts,
whereas they allo~ q mere modiculn TO the
applicant 10 supply for 4 day his pressing
needs. Her honor calls ON her TO enlarge
this exemption to the including an exemption
from s,uTenderinS any portion Of her assets,
while it releases her from the payment Of all
her debts! And this is modern honor !!
FalstalI would have said. " IT this be honor.
III nouc Of isp
1t would be grateful to the people, no
doubt, to have listed and published the names
OF the present holders Of these bonds, that it
might be seen how many OF them are :. haI-
pies" who wrlms them from the necessi-
ties of their original owners. That such saIl
s.sscs may exist, and that many OF them have
been occasioned by the panic raised by this
Assembly, may be true. The list should, if
possible 90 back and exhibit the bankrupt
cies which this agitation has occaSioncd. It
would doubtless show among the lE!rpies>
many q gallant name whose bearer stood I'M
fliuchingy in the late bloody breach; those
of the widows and orphans Of Others whose
bones now minglc with the soil of Virginia
IN whose defence they died, and hosts of az
virtuous and patriotic men rs ever lived in
any land. If rumor, quite well authertic;s-
ted, be not mistaken, there will be found on
that list the widow, chung around by nuilie-
rous uneducatcd children us near and dear 10
the illustrious Robert L. Lee rs any save his;
own offspring, who rely on the acieathonor
OF this State lor payment OF bonds to which
alone they look as resource i'll their neces'