The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1874-03-20
THE STATE FINANCES.

1t is all very well for the Legislature to
seek new subjects of taxation, and thus
relieve as far as possible the producing
classes. But the truth remains that all
this legislation is totally inadequate to
meet the present crisis. The whole drift OF
our legislation thus far has been miserable
patchwork. There is an incomprehensible
reluctance to take hold Of this question with
strong mans grasp and compel a solu-
ton that shall yield results and become
iinalty. The Legislature is beginning at
the wrong end. 1t is also pursuing its
work by methods which cannot but fail to
restore to the state its credit, or to relieve
the people Of their heavy burdens.
We repeat for the fiftieth time that no
settlement can be final that does not in
volve bringing the division of the old state
of Virginia into court. Here was large
state called Virginia. She owed large
debt. War came upon her, and she was
conquered, and under the laws of war came
into the military possession of the United
States. A portion Of her territory first
occupied was erected into a state and adj
mitted to the Union upon terms dictated
by the conqueror. Later, when the re-
naming portion succumbed to force, and
after being held under military government
several years, it also was admitted into thu
Union upon terms dictated by the con
queror.
The old state of Virginia does not ex
ist in any sense that can fix upon it I
moral or legal obligation. Territorlalll
there is no identity, and politically ut
sane man would venture to claim it. 1t j
absurd for the holders of state bonds tt
come to our Legislature and claim pay
ment it is equally absurd to 60 to Yves
Virginia. Neither is the party tina
undertook the obligation contained in thes
bonds. On what ground does our stat
undertake alone the obligations of the dea
state that were incurred on her own be
half? Does the fact that Richmond is tn
the capital of the new Virginia establis
identity?
But suppose the United States, in tn
plenitude of its power and during militar
occupation, had cut off a slice just west {
Richmond from the mountain to the SCI
other slices still south, east and west, lea'
ing only HeTico county for the new stat
would that magnificent residuum be o
Virginia, and bound to provide for i
debts !? All this shows the absurdity
any portion of dismembered territol
undertaking to provide for ante-bellu
debts. 1t was for the party that made Il
partition to distribute the debts. Failil
to do this the question can be settled on
in the courts. 1t is the first duty of tn
state to bring this question into The Unit
States courts. 1t is alike to the interest of 4
state and of the bondholdefs that tn
should be done, and that prompt
That court can make but one decision: eth
that the partition Of The old state acas illeg(
or that the poaoer making that partition
responsible for the debts of the old state.
Will not this Legislature rise above t
childish expedients which are only sinki
the state deeper in debt, and making ma
tiers daily more complicated and difficult
Will it not assert its own dignity al
that Of the state by grasping Il
great question with determination
carry it to the court of final arbitr
ment and ascertain, as a starting point, t
precise legal status Of the United Stat
and of the two new Virginias. This is Il
only course that can lead to defini
settlement. IL is also the only logic
mode of procedure. 1t can do no harr
1t will not fail to do good. We ventu
now to predict that unless this course
pursued the debt will continue to increa
until it will be too burdensome to bea
and will be repudiated.