Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1873-02-27

pie OF the States by the late war were
probably equal to if not greater than
the present total amount of the national
debt, and they emerged from the fear
tul ordeal stripped ct hearly all their
possessions save their desolate lands.
But their debts remained and have since
been largely added to both by un paid
interest and the creation of new debt,
until to-day some of them are forced
into a condition of dishonor in conse-
quence of their inability to meet all
their Liabilities. And while they have
partially recovered from the social diff.
ticuities, political embarrassment and
corrupt and demoralizing influences
which comprised them about and still
further Slapped theirsubstance and par
allied tier efforts, they have not regain.
ed their prosperity, and debt and taxa
ton still weigh heavily upon them. But
Notwithstanding their depressed and
impoverished condition, they are com.
PEELED to contribute their full quota to
the national revenue in due proportion
with the prosperous North, and that;
too, without realizing in a correspond
ing degree the. advantages Of large
governmental disbursements in their
midst. The State Of Virginia alone an
nualiy pays into the Federal treasury a
| sum more than three times larger than
the amount OF both the interest upon
her pubic debt and the entire disburse-
ment of the government within her Dor
| ders.
When all these facts and figures are
carefully considered, some reasonable
estimate can be formed of the wisdom.
OF the necessity, and the justice of the
action proposed as well as the immedi-
ate and almost inestimable advantages
which would accrue to the whole coun-
try, by their prompt relief from the OPP
pressive burthens of the State debts.
While the revival prosperity through
out the South would be of more imme-
diate consequences to her citizens, its
beneficial effects would be shared in by
the people ofthe whole country. No
one section of our country can retrogade
OF advance without influence for good
Or i'll being felt by all of the others,
1t is true that the States owing the
larger debts would at first be the great
er bcileficiaries, yet each succeeding
year would lessen the differences and
tend to eqlalize the advantages. and all,
at all times, would realize the good eff,
fects OF assured credit, reduced taxation,
/ low rate OF interest, renewed and rein
vigorated industry and prosperity, and
universal advancement and develop
I ment.
| know of no measure which could
be devised OF more general advantage
to the people, or more beneficial to
their interests and well being, no one
which could tend in an equal degree
to M.ite and hdrmoaa:se the achole conn
try, and obl5terdte the last yestiges OF
sectional differences and a1stogonisna.
To the people of our own State it would
afford additional relief 1t would les
sen the bti1thens of oiif State taxation
by at least two-thids in amount, and
with proper legislation the real estate OF
the Commonwealth might, in a brief
period, be relieved from the remainder.
1t would banished from our Legisla-
tive halls, and from our local politics,
that troublesome, if not dangerous sub
ject, the estate debts, and confer upon
us all the benefits which the most favor
ed could realize.
| If the general assembly should con-
cur with me in these proposition. |
would respectfully Recommend that
prompt action be taken to invite the
co operation of our sister States in their
support, and that our representatives. in
both houses Of Congress be requested
to use their best efforts to secure the
necessary action on the part Of the Ma
tional l. Legislature.
1t is proper perhaps, that I should
add, that since this paper has been in
course of preparation, some discussion
has occurred upon a proposition that
the United States government, and not
the State of Virginia. in reality owes
our debt contracted prior to 1861, for
the reason that the disruption of the
state and the destruction of values by
the war was the act Of that govern
ment, and because Of the magnificent
domain which Virginia at an early day
| eeded to the Federal government.
While there may be some equity in the
latter reason, as to the former, it is suf-
fcient to say chat, even if it ever pos
sessed any force, it is now too late to
question our habity for that debt after
the same has been recognized by four
different Legislatures, affirmed by our
Supreme Court OF Appeals, and sane
toned by the people themselves in the
adoption Of Our present constitution, all
of which had occurred since the war
/ have also within few days OBJ
served some newspaper paragraph indi
eating chat an attempt was made to in
duce the Federal government to assume
and pay the ante bellatna debts of the
Southern States, but every reason which
can be urged in favor of such piah ap-
plies with far greater force to the
proposition above suggested, while the
many additional reasons which may be
urged in favor of the latter do not APP
ply to the former, and more objections
exists to the former that can be urged
to Che latter. GILBERT c. WALKER.