The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-01-20

seson OF pubic buildings carried on with
out difficulty.
In relation to the settlement of the relative
portions of the public debt of Virginia the
message says:
The separation of West Virginia from Yir-
Slnla has raised grave and delicate questions
| touching the adjustment and payment of the
public debt of Virginia existing prior to the
separation. Upon the organization of the
state OF West Virginia the following provi-
| sion was inserted IN the Constitution
can equitable proportion of the public
| debt Of the Commonwealth of Virginia prior
| to the first day of january in the year one
thousand eight hundred and sixty-one shall
he assumed by this State; and the Legisla-
ture shall ascertain the same as soon Us may
be practicable, and provide for the liquida.
| ton thereof by sinking fund sufficient to
pay the accruing interest and redeem the
| principal within thirty-four years."
The Governor reviews the action taken BY
both States in reference to the matter, an d
quotes the language of Governor Walker,
asking why West Virginia refuses to sub.
init to arbitration. Governor Jacob then
says:
ID grave questions of this kind criminal
! tons and determinations do not tend to pro
| ducc satisfactory solution. As Governor
| Walker declined to appoint commissioners
on behalf of Virginia, no course was left
the commissioners Of this State, except by
independent action, to procure the data from
which to ascertain what is the "equitable
proportion" of the public debt Of Virginia
which West Virginia ought to assume. The
| able report of the commissioners happily
spares the necessity on my part of discus.
sion of the issues involved in this matter.
twill he laid OH your tables in a few days.
1t is entitled to, and will no doubt receive, {;
candid and earnest examination. "The
funded debt of Virginia on the 1st day OF
january, 1861, was 31,77S,SG7.32, after all
deductions" All Of said debt was expended
within the present State of Virginia with the
exception of s., 656, 330S9. The report will
show that this debt represented money
borrowed and expended in improving the
State by canals, railroads, turnpikes, plank
roads, and bridges"
"All these expenditures conferred a loca
and special benefit where expended, not only
| by the outlay of the money in creating /:
market and stimulating enterprise and trade
but in otherwise developing the resources OF
particular localities to an extent equal to tho
general benefit to the State at large. 1t may
be assumed then that the public works fol
which the debt was created are worth what
they cost. Virginia, by selling, donating, and
diSposing of these works as her own proper
| ty, without consulting West Virginia, must
lie taken to have accepted them on that basis
"When the tables accompanying the re-
port are consulted they will show an eXpen
diture of over thirty millions in Virginia
and about two and half millions III West
Virginia" The commissioners then come tc
I the conclusion that "the benefit conferred,
and not the territory and population, should
be the principal if not the only basis of II
adjustment OF the dobt" To give at length
the arguments adduced to sustain this posi-
ton would make this paper too long; to dc
| less than this would be an act Of injustice tc
the commissioners, and greatly weaken the
force of their arguments.
| The interest of the people i'll this question
will cause the report to be widely read, ant
there is less necessity therefore for full dis
cl,ssion on my part. If an equitable pro
portion" of the public debt of Virginia i,
the limit of the liability of West Virginia. i
is difficult to see how she can be under obi
cations to pay for improvements that do no
confer any benefit upon her. Taking thu
foregoing basis for guidance the commits
sioners report that West Virginias proper
ton of the debt is something less than ont
million of dollars.
This balance is reached by charging Yves
Virginia with the amount Of expenditure fol
all purposes within her limits, and crcditins
her with her interest in the public building
and other assets named; also with her share
in the literary fund and surplus fund. These
calculations have reference to the date o
January l, 1861. 1t will demand your seri
Gus consideration whether you will now pro
coed to assume what you may conceive to b,
the equitable proportion" Of the publi
debt of Virginia prior to January l, 1861, o
whether you will, i'll the light of past events
, await further action on the part of Virginia