The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-02-07

ANXIOUS ssa - q io Rsppahannock followed Esaal
. 800 vn,sta will not follow Rap pabannock.
''a IT,, *, Senator from Augusta, 10 conclusion,
sr,nsIv asserted that should the Que s. Jon be
corr;ei into the next canvass he, for one,
,Sn,,id choose political death rather tfrasf ad'
voeate it. What fear doth now possess
Achilles that he will not die?
HMr. Graham offered the following resolu'
ton: ,.,,.,e
"Reso,rsa, That the bin under considera-
ton known as the funding bill be recon-
mitted to the Committee on Finance WIZ
instructions TO report: First, the eXac'
amount.of the public debt, princ.pai anu w
terest, OH the LIST Of January, 10, se.nnn,
the amount Of taxable properly sene'l r.
s,aves) owned by Virginia at the .tp VS., "
separation between Virginia ana mes' ~
GINA; third, the amount OF E4ao1e pIoHois =,
Except sIave) owned by west vns'nsa q.
The same time; fourth, the amounI OF Tue
public debt Virginia owes, aGJustea on lug
basis Of the. taxable properly OF eacn sM.e ,
of nronerty that will be required to pay the
ordinary expenses Of the State government
and nav six per cent. on the public debt, I'D.
insted on the above basis, and to establish
the sinking fund contemplated by the Con-
stitution."
ITpon this resolution, which was offered
with the solo view of obtaining correct in
formation concerning the financial stitus OF
the State, the Senator FROM Augusta voted
overwhelmingly closed his.eyes against the
Highland now claims to have stumbled be-
cause the Governor and Auditor were blind
leaders of the blind. And the Senator not
only closed his eyes, but opened his mouth
and spokeas follows Wing, March 2Sj sic
opposed the resolution OF the member from
Rockbridge, and did not doubt that it was
dictated by the wish to kill the bill. He
appealed TO members not to adjourn with
out passing the funding bill. The re-
cord Of Virginia had been glorious in the
past. She was then prosperous; now she IS
beset by the temptations that spring from,
poverty. Let her rise above these tempta.
tons and show to the world that in adversely
as in prosperity her integrity is Still the
same" here, it will be observed, that the
Senator from Augusta opposed the resolu-
ton because he did not doubt that it was
dictated by the wish to kill the bili-and vel
be voted nay. Hercules, refusing to Kill
Python, said: "Firgluia's record bad been
glorious in the past; she was then pros
porous; now she is beset by tue temptations
that spring from poverty. Let her rise
above these tcmptl;ions and show to tie
world that in adversely rs in prosperity her
integrity il still the same" Yes, let
her rise, rise as the bowed oak comes
back from the tempest; rise rs the
kceled ship strai"htens from the storm,
This motion of Mr.. Graham prevailed, il,
spite OF the vote of the Senator from Au
gusta. 1t was then moved to reconsider the
vote by which it was passcd-this motion
also carried, the Senator IRON Augusta yot-
ing aye-stii refusing to behold that picture
of desOlation and ruin which he was etching
with a masters hand. Mr.. Wynne moved to
amend by providing that only two-thirds OF
tie bonds should Ue refunded in bonds, and
that the accrued interest on this two.thirus
should DC placed i'll certificates 10 run ten
years, bearing 10 interest, and to be paid out
Of the shaking fund. Mr. Wynnc said he
offered tile amendment because he could
not vote for compound interest on
tie debt; he could not consent 10 compe
the people to LAY Interest upon interest
The Senator from Augusta could consent
to compel the people To pay interest upor
interest, and so he voted nay, speaking q!
|
ran said he would brand rs reputation wha
he regarded as reputation. He had nothing
to do with stock obters, about whom si
much bad been said, aud did not own sin
gle bond. He had no pecuniary interest il
the bill. His county lad less than ulmos
any other county i'll the State, yet she Wa
willing to bear her portion Of the burden 0
taxation in order 10 main the credit Of TIN
State. He defended the Finance Committee
alleging that they had considered and dis
cussed the subject us thoroughly us they couIt
in all its length and breadth and in all il
phases. The bill presented by them propose,
TO fund two-thrus Of the debt, priuciI pal AK
interest, aud leave the remainder subject Il
Il settlement with West Virginia. The latte
| did not owe more than one-siXth. Coult
Virginia, under such circumstances, do les
than assume tWo.thirds! lie argued tia
the accrued interest was as much
| debt and as binding in honor as WIS rh
principal, aud should be provided for il
| tue same inauner. The bondlioldcrs ough
not to he deprived of their rights becuus
| Virginia has them id her power. 1t was he
solemn duty to deal fairly with her credit
ors. If the bonds are held by the devi
himself, they ought to he paid (this in repl,
TO Mr.. Wynne, who suggested that many 0
the bondtlolders who were pressing US wer'
men who during the war had aided in de
stroying our property and substnce(. I'll
estimated the loss that would fall upon bond
holders il the amendment should prevail. l
would be more manly to blot out the debt a
once than to try TO get around it by TIL
amendment, which was, if anything, wors
than the amendment OF tie member from
RappahanGock. He appealed to the Houst
to stand by the bill Of the committee"
| We note iD this argument Of the Senator
from Augusta that his county is willing t,
bear her portion OF the burden of taxation il
order to maintain the credit Of tue State
am glad To hear it so proclaimed, aud be
licye it. The Senator from Augusta defend
ed the Finance Committee, alleging tina
they had considered and discussed the sub
ject It's thoroughly us they could in all it
length aud BREADTH, and in all OF its phases
II this be SO, and do hot doabt it, how l.
1t possible that the chairman OF the Finance
Committee could have been led in error b.
the Governor or Auditor, as is alleged by
the Senator from Augusta, the chairman =
the Finance Committee? / am too much al
admirer OF the ability of the Senator from
Augusta to conceive how the Governor OF thu
Auditor, or both together, could lead or mis-
lend the Senator from Augusta upon any
subject which he had considered and dis,
cusSed thoroughly in all its length unt
breadth aud phases. The satellites rcvoyt
around Jupiter, not Jupiter around the sateI.
lites. The Senator from Augusta said that
| West Virginia did not owe more than one
sixth of the debt. l think she owes fully
one-'hird, and should be left to ply it OF
shoulder the odium OF Reputation. Tho
Senator from Augusta argued that the &C.
crued interest was rs much debt and az
binding in honor US was the principal, and
should be provided for in the same manner