The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-02-18
stats Debts-Shan the United States
Paw Them

Gooerr.or Walker Surprises The Legislature
The Governor Of Virginia took the Gen
eral Assembly yesterday completely oy sur
prise, as be did everybody. by bis message
PROPOSING that the Federal Go'erGheh'
shall nav the debts Of al. the States. ana tnat
the measure shalt bc accompanied with an
au,endunent of the Federal Constitution pro
bsh,t,np the States from contracting any
debts "except such as may be found neces.
"ary to the legitimate and effective execu'
ss;on Of their governmental functions. or as
q NAV be required By sudden and great emer-
agencies"
The proposition, we say, was great sur
mise. We imagine, however, that the only
objection to it win be its alleged impractical
bility, and the injurious effect upon the pub.
lie mind, at least in this State. Of exciting
hopes that will most probably be sadly dis
appoipted. The argument the Governor HIM
self presented against looking to tue Fede-
raj Government for means to complete the
central water-line.
With regard to State rights, there 10 80 lit
tie left of them that most OF the States would
freely surrender the right to contract debts if,
return, they could get their present debts
cancelled. Several of them, including ViT'
yin;a, have already prohibited the borrowing
of money on public account by constitutional
provisions.
A leading London paper calls the States
PROVINCES" for States, Il says, they can nc
longer be styled 1t is not far wrong. They
are "Iocals governments, whose acts have
been overridden by the Fcdeial Government
since the war at will and they are without
a remedy for iDfractions of their rights ex-
cept by the action of the whole people at the
polls reforming the Central Government by
changing the men that direct it's affairs,
This makes them very like provinces over
ruled by a strong general government. So
there can be no.great deInur TO the surrcn-
der Of the State right (Which has long been
disputed by some public mem to issue
bends In contracting debts as considera-
tion for the payment Of State dc1ts.
As to the practicabili'y Of the proposition:
Upon the threshold We are met by the UNI
eaual amounts of the State debts. Governor
WALKER treats this obstacle lightly. We
regard il much more seriously. The States
which owe little or nothing will demand
equal shares of the money to be paid out of
the treasury; and the contest Oil that point
will very likely dash the whole scheme.
If the public in Virginia, for instance,
should fix its hopes on deiyerance in this
manner mud be disappointed, it would turn
70 its own debt with loathing and despair
that would probably precipitatc reputation.
Unquestionably the advantages Of the as
sumption Of the debts of the States by the
National Government portrayed by Governor
WALKER would fiow from the measure. He
does not exaggerate them. The merging OF
all public debt into national bonds would re.
ieve oil the Suites and people-reduce the
rates Of moEey-enforce econcmv-lighten
the burtbens Of the people increase popula.
tion-stimulate industry, and Increase the
general prosperity.
But We have no expectation that the pro,
. position will be seriously entertained by the
Washington Government. If not, it may dc
great deal of harm.
In the Senate yesterday, after the receipt Of
the message, Mr.. PENN offered resolutions
sustaining the proposition. The House
merely ordered the printing Of the paper.
How the Governors bold project, pre-
sented In IN independent spirit, shall be gen
orally received is matter of great interest.