The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-04-18
LETTER FROM RICHMOND.
What 8Id Virginia II Doing
Last Legislature md Its Position
ON the Public Debt Question-Re.
pudiatiOn Of the West Virginia
Certificates-Prog OF Business
and Trxde In Richmond. &c, &c.

Special Correspondence of the Register
RICHMOND, April l., 1872.
When the Legislature assembled last
December, it was the hope OF the think
ing men OF Virginia that it would be
able to propose some basis which would
meet with the approval OF your State,
and upon which the vcxatious public
debt question might be satisfactorily
settled. They spent mouth after month
in the discussion OF matters Of COM
paratively Insignificant importance, and
did not once bring up this. AT the tail
end OF the regular session they did take
some action, but such action as was
intended to repudiate the Virginia
deferred bonds" or West Virginia
certificates" A bill was passed (and 1t
received the sanction Of two.thirds OF
the members OF both Houses) instruct-
ing the Treasurer not to receive as
securities for foreign insurance compa-
MES, doing business in this State, these
bonds, which were Issued under the
funding bill to represent one third Of
the public debt supposed to be due by
West Virginia, and declaring that "this
State IS not responsible for and uW not
pau anu portion of said certificates, "a
cept what West Virginia may pay into
the hands Of Virginia, as trustee. The
newspapers generally expressed no opin-
ion upon this remarkable course, but
when they mentioned the matter at all,
most Of them did 30 approvingly, and l
am afraid that the ajority of the people
who have really never understood the
.ubject-acauiesced in this declaration,
which if not binding in law, certainly
indicates what Virginias position at
the present. time is. The preamble OF
the bill have referred to, recited that
whereas, Virginia gave her consent to
the foundation OF the State OF West
Virginia &c, and was in this shape
when il was sent to the Senate from
the House. The former body struck out
the words above quoted and inserted in
lieu thereof, whereas West Virginia
,caS formed out OF Virginia &c" 4
communication from the Governor OF
West Virginia was transmitted to the
General Assembly by Governor Walker
in the latter days of the session, re-
questing that West Virgins might he
put in possession Of the archives, land
books &c, contained iu the Capitol
Building, relating exclusively to the
counties now forming the State Of West
Virginia, but the General Assembly
declined to accede to this request. One
Honse-probably both-however pass
ed resolution authorizing your State
to have any OF these documents copied
or in cases when there are duplicates
the delivery Of one copy 10 the West
Virginia authorities.
There is woeful ignorance here AS 10
the action taken by your Constitutional
Convention in reference 10 the public
debt question, and the impression pre-.
walls that that body has gene almost as
far as the Virginia Legislature toward.
repudiating. West Virginia certificates
which were once worth from twenty-five
to thirty cents on the dollar, have now
dwindled down TO about fifteen or six
teen cents, aud in this market are
scarcely salsble at all, from the fact
that the settlement OF the public debt
question between the two States il re.
gsrded az indefinitely postponed.
Richmond is probably the most thriv-
ing city in the South Atlantic States.
Its population ia 1860 was $1,000, and
is now fully $4,000. Notwithstanding
the immense destruction Of property
at the evacuation, her wealth and bust
ness has been steadily on the increase.
The chief trade 10 in tobacco, -four, and
iron manufactures. The Chesapeake
and Ohio Railroad Company, to reach
the wharves at Rockets. are tunuelins
Church Hill, at cost OF $500.
900; Maros Toll bridge, uniting
and Manchester, de,
stroyed in the great flood OF 1871,
has been rebuilt 10 . substantial man.
ner, and free bridge, to be chiefly of
stone aud iron, 10 tbres-iourths com.
pleted. At Rockets, the New York |
aud Virginia Steamship Company
are building an iron steamer OF 500 tons
h,~Jn, IN tha IT l