The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-12-24
tits Well to be Warned

The Chief.Justice OF the Wing warns thu
Legislature against repeating the law o
'7l-'72 excluding all things in the payment
of taxes save geld, silver, and greenbaeks
land therefore excluding coupons OF iundee
bonds(, on the ground that as long as tha
stands no officer Is privileged to receive con
pons, the decision of the Court Of Appeals
to the contrary notwithstanding. In every
case the holder Of the coupon must sue out
mandanaus to compel the officer to receive
tue coupon. An Enquirer correspondent
suggests a tax of $50 on every writ of man
day,us. to be paid, like newspaper subserip
tons. Gin advance" The Wing says this
will "blocI the game of the coupon-holders.'
Well, now, gentlemen, would it not be as
well to look before you leap' We take IL
that the first great point in the judicial vie"
of the case is that the highest court in the
State-wbose decision is binding upon all
inferior courts-has decided that the State
is bound TO receive the coupons in pay
,ncnt of all dues. We arc no lawyer,
but we conjecture that there is no very
clear route by which that decision can
he eyaded In a question between the
State and an individual as to the obllga-
ton of the State to receive these coupons.
Let il be remembered, too, when you come
TO consider the question of "adVantase'
that the State is the collector, and must first
move. Ifthc bondholder offers his coupons
and they are rejected, and he refuses to pay his
taxes in other valuables, the State must make
another move. II must levy; and then, sup
pose an Injunction is asked for by the bond
holder, does not the decision of the Court OF
Appeals seem to insure the granting ofthat in
iunctionY What then! We see no step
that the State can take that will not prove
that its way is as much blocked up as that Of
thsrbondholder.
But, we repeat, it is the State that wants
money, and the best expedients of those
who would resist the obligation of the State
to receive the coupons for al! debts due it
only lead to deadlock.
What would be the condition of the State
in carrying on in this irregular and reEolu-
tionary way war with her creditorSI Her
Government would be stopped. There
would be no money to keep its departments
in operation. Talk about State rights! Why,
this would be State suicide. 1t is sad enough
20 see the States subordinated to the Central
Government by degrees until they are al
most Genuded of all authority. In apology
Tor them, it may be said that this humiliation
is brought about by force--the force of num-
lcrs and of arms; but what excuse can there
bc for the voluntary act of State suicide? In
such a case the Federal Government would
tiad complete justification for absorbing all
State authority. There could be no better
proof of the incapacity of a State to take
care Of itself.
When the representatives of the people Of
Virginia see what may come of such struS-
gle between the State and her creditors as
those in favor of resisting the creditors and
the judicial authority Of the State propose,
can they possibly for moment dream of
permitting it to go on'
There could be nothing more deplcrablc-
nothing more fatal to the honor of Virginia
and the welfare and prosperity Of her people.
1t cannot be allowed. The legislators will
certainly devise some plan for avoiding it
in some worthy manner. TO pay out, we
think, is the only way, yet there may be
more than one honorable way for that, with
the concurrence of debtor and creditor.
The true way, however, is to strain point
AID meet the public obligations. Those who
represent the State as penniless and PROSTATE
i'll the dust are not truly depicting her con-
dition. She has energy, and means, and
pridc,-a great deal of each-and her peo.
pie, we believe, will rise up and demand that
they be allowed to redeem their old mother
from discredit and calamity.