The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-02-09
Tlse Funding Fill Yesterday.

Yesterday was quite al interesting one in
the House during the discussion Of the fund
Ing bill. 1t was intespersed with remarks OF
rather a pungent nature leaning towards
personality, and arguments from several OF
the ablest members Of the House. A Slight
sbirlnish took place between Messrs. Poague
and O'Fcrrall, and the floor was then OBJ
tanned by Colonel \. c. Cummings, the able
representative from Washington county, who
smoke in support Of the minority report OF
the Joint committee. He said that whatever
the differences of opinion on this subject
might lie, he claimed that all present in the
House should be animated as Firginians with
but one spirit--that Of the welfare of Viz
rinia. He claimed that there were two
things which must go hand in hand i'll the
accomplishment of this end: First, the people
must not he oppressed with taxation. Second,
the credit and honor of the State must be
preserved. These "twin sisters " formed the
great question which this Legislature was
called upon to solve. He said that the ques-
ton was not an original one in view OF the
different steps already taken in connection
Herewith. and in consequence OF the division
of the State. The ACKNOWLEDGMENT of Virgil
MA was forced upon her people against their
consent. and therefore the people OF Virginia,
as at present constituted, should not be bound
for more than their proportionate share OF
the original debt. Suppose that ut the diyl-
sion this State should have been called Co.
lurlbin, and West Virginia should have been
Virpiilia, could The mere name have bound it
for the whole debt? r-
Colonel Cummings referred to the burdens
that the people had to bear and the impor-
lance of relieving them as much as possible,
so far as is consistent with the preservation
of the faith of the State. TO preserve the
public faith was all important for the well
i:,rc Of the State and the Introduction o!
much-nceded capital. He then reviewed
briefly the different sections Of the funding
bill, and claimed that so far as the contract
under the bill had been executed it was legal
and valid, and it would be idle to hold out
false hopes to the people to the contrary. The
coupon feature was, in his opinion, the most
Objectionable. The language in the bill, how
ever, "until otherwise ordered" showed
that this Legislature could have the power
to get rid OF it. TO suspend this feature
seemed to him the only means of relief. He
then cited several decisions Of the UnAed
States Supreme Court; among which was
one that there were cases touching the power
of Legislative bodies which could never be
finally decided in court. This left all such
cases as this open to trial. In this case the
mere fact there was doubt would seem to
authorize the Legislature to test its power
to repeal, and wisdom and policy would die
tate to them to try it. The question would
then come Zip as opowcr of this Legislature
to repeal or suspend. The Legislature
should spare no effort to prevent an
increase of taxes; but he would never
cast his vote to impair just contract
and a Just debt He then argued with
much force to show that the minority report
was much better calculated to preserve the
credit and faith of Virginia than the ma
jority report. He also demonstrated that the
interest on the public debt could lie paid, and
showed the ability Of the State to pay it
without increasing the rate of taxation. He
also opposed earnestly the accumulation of
interest contemplated in the majority report.
81. He was followed by Mr.. Brooke, Of Eau
quier, who spoke on the same side, and also
made a very able argument. j.
The House adjourned with Mr.. Daniel on
the floor. ..a.