Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1872-02-13


any young maiden just turned her teens, and is
cooueting with the debt question in the most
approved style
at will and it WON'T
"Will be id it does,
And be ID ifit don't"
IL suspended the action of the Funding bill,
and there it has stopped The minority report
of the Joint Committee on Finance was rejected
by "a decided vote, and now 1t has By as almost
decided vote-j7 to 46-rejecrcd the report
of the majority of that committee, whlchlt was
thought would go through like fash, and
the Funding bill, so far, therefore, remains IN
that without legislation no interest can be
drawn; so for all practical purposes it is a
dead letter. The muddIe has become more
muddIed, aud the up shot" will, it Is probable,
he. that nothing defuite will be done, except
that for the present the interest will not be
Maid, although the force Of public opinion, and
the attitude III which the Legislature has been
nlpced by it's own datory aud vacillating course,
IS creating feeling akin to disgust IN the
minds of many, and that feeling is beginning to
.:crop OUT" as for instance, to-day, when III the
Senate Radical member offered the following
Joint resolution, which was ordered to be print
ed, and lies over rluder the rules:
.'Whereas, a Joint committee of both Houses
of this General Assembly, representing all
shades of opinion Oh the subject OF the State
debt, has presented two reports, Ill both OF
| which is recognized the ability and obligation
of the State to pay at least three per cent. per
annum interest upon the debt; and
Whereas, with more than sufficient money
10 the treasury to pay the same. torty-two days
have elapsed since the January interest on the
State debt became due; and
"Whereas, in this condition of affairs when
common honesty requires that this obligation
Should be met, every day of delay is seriously
damaging the public credit and every other in
terest in the State and
"Whereas, it is admitted by all that one of the
most important duties of the General Assembly
is to preserve the credit OF the State by provid-
ing for the prompt discharge of all It's Obllga-
lions to the fullest extent of its ability. There
fore; be it
"Resolred by the General assembly Of lT-
anna. That the Auditor OF Public Accounts be-
and he is hereby directed to pay into the
Treasury from time to time, subject TO the war
rant of the Second Auditor, so much of the
public revenue as the Second Auditor may GER
tiiy to be necessary to pay the interest due Jan
uary LIST, 1872, on the public debt as funded
under the act approved March Both, 1871, en-
titled IAN act to provide for the funding and
payment of the public debt and also two.
thirds of our semi-annual payment OF interest
due on any portion of the public debt not fund
ed under said act.
Mr. Penn, of Patrick, in the Senate, has
brought forward plan fort the adjustment of the
difficulty. which differs very little from the mi
nority report 1t provides for the receipt Of the
Il 1 ILL IL, IL 81 ,l,,r
face value, to be paid on presentation at the
Treasury, and the whole coupon cancelled
With all due Difference to the wisdom OF the
individual members Of the General Assembly,
it is to be hoped that some thing will turn
up soon to open the eyes Of the body TO the
very unenviable position they now occupy be-
fore the public; to the injury they are doing
the State, at home and abroad and the re-
proach they are bringing upon themselves: and
induce them to 90 to rork to perfect the legls-
lation necessary to carry on properly the STatc
government; then adjourn and-''go home. As
things now stand there seems no possibility OF an
adjournment before the last Of March-if then
for if the Debt question were disposed Of to-
morrow and the Land Scrip fund ditto by the
most dligent attention to business, it is doubt
full whether what has to be done. could be done
in the remaining fifteen working days. Nearly
every member promised his constituents re
trenchment' and reform. and short ses-
sion. How have these promises been fulfilled?
But to the Debt-the absorbing topic. The
consideration of the question was resumed III
the House, to-day, when the substitute offered
yesterday by Mr.. Critz for the minority report
was defeated, the report itself. having been
rejected on Saturday.
The question then recurring upon the passage
of the original bill, reported by the majority of
the joint committee, Mr.. Poague proposed to
amend by proviso excepting the act to pay
interest and dividends to the incorporated col
leges, &C., from the operation of the bill, which
was also defeated-ayes ~, noes 81.
Mr.. Coghill then moved to amend by strik-
ing out the 9th section and inserting another
declaring the act of March 80, 1871, land all
other acts and parts of acts, inconsistent with
the bill are hereby repealed. Agreed to-ayes,
IS; noes, 81
Mr.. Deneale spoke in support of the ma
ority bill, but offered to amend the second
section in regard to interest by proyld-
ing that 8 per cent be paid for the first seven
teen years, and per cent for the remaining
seventeen years.
Mr.. Head spoke against the majority bill.
and announced that he should vote against 1t
in it's present form, and in any other that it
might assume.
Mr.. OFerra again offered his bill as sub
stitute for the pending bill, and advocated 1T as
an equitable settlement.
The discussion of the report and substitutes
was continued at hight, when the ques-
ton having been ordered On the adoption Of the
| majority report, it was rejected-ayes &c, noes
81. and the House by an overwhelming majority
refused to reconsider the vote;and thus endeth
in cloud ofsmoke, what it had taken weeks to
mature, to the exclusion of almost everything
else before the Legislature, and the stand
taken by the promising young representative
from Alexandria may yet have its weight, IN
the body, as it has undoubtedly met with warm
appreciation outside, and the credit of the
State, though severely tried, finally saved,
by standing upto compact, entered Into in
good faith by State and creditor, and which
cannot be violated without detriment to the
State.