The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-04-02


TsIIsvs west YntfnIs, but as directing tne =
-. anclv. fhe -mseey.now4Sn thes3 90
n Enaffersfo bS1kceivedsso thu Furchase OF
bSndesSfdch hase beam recoEHkeo oy t .he
seSsliatsire since The Hsr as constituting Tue
a,,;sre of lhe dabk properly pasable py w :.
oin;a is1tHnst n fpanifestfhat IS BOON as 10 Is
tnown that the State of Virginia is 10 lne
1870. no purchaser Of THAT class OF Dohds
70. the eytent OF half a million, Or possibly
million Of dollars annually, the inegitao,e
efIect will be to raiseth price Of those 9onas
Iaboye Utbeir present market yaiue, unu
thereby to render the bill practically nope
ratIve. .,ot al,
shifts. devices, and contrivances 10 a,oiu
the payment of the public debt Will De aD9 :.
five. and will tend only to brlng; asscreu.'
ON the fair name of Virginia, Without aiio.u.
ing apy substantial relief. Sooner OF latei
the question must be fairly met, apu s.a srv
committee, judging from the PAST h bsnors
of Virginia, cannot for momens .o o.
that her people will ever give c1 ;.n
to INV measure of doubtful moraiity.
Il is true that Virginia has neen saenu a
IMPOVERISHED. At the close OF the ,a.s onia
Il was common remark among sne 70 her
that Virginia had lost everything wave ne.
hnnor This priceless heritage she never
Ala and In the opinion Of your commttee
never will, surrender. -. tb;-d
"o r. "a true that Virginia has lost one.tn
~ nor territory and one-half OF her taAao e
values. but she has turned over one-tn n "a "a
va. dobt incurred before the war TO De au-
;,,sted hv West Virginia. She stili recains
o on ;mnerial domain, in the very heart OF Inc
Irroat confederation Of States, rich 10 mlu-
81 ,or;cnI,ur,l. manufacturing, ana COLI
. s,a..;nI resources. blessed with ciimate
tnr,narate genial. and healthful, and adaptea
20 the nroduction of all the cereals, fruits,
tohaccoE vegetables, cotton, and grasses,
.U,ich at n future day will be sources OF
hnnudless wealth. She possesses, too,
nonnIation brave, intelligent, Industrious,
eneroetic. and capable in all respects OF de-
raIoSing her resources. All that IS needed
10 time to restore to her her ancient pros
nerity, Already we see in many parts OF the
State unmistakuble evidences of material
nropress. Our cities and towns are growing
in wealth and population with rapldity I'M
nrscedented before the war. immigration and
eapital have begun to flow into our State,
and we have reason TO believe that the in
fink will continue to increase in volume with
each succeeding year. New mines are being
opened new manufactures are being COM
menccd; new sources of wealth in the form
of new branches of industry are being estab-
lished, and all the signs of the times indicate
rapid and steady advance in prosperity.
Before another decade shall have passed
away we have just ground for believing that
the material interests of Virginia will De
placed on q frmer foundation than ct any
previous period Of her history. There IS,
therefore, no reason for dependency among
the people Of Virginia. on the contrary,
everything wears hopeful aspect, and your
committee do not hesitate 10 express the
opinion that it is the duty OF the Legislature
and of the public press to cultivate ana
strengthen a healthful and cheerful sentl-
ment among the people.
Virginia is now able without imposing Sc
rious burthens on her people to pay M IN
terest of four per centum per annun ON ber
share of the debt. This your committee
are assured will for the present De satlsao'
tory to most Of her creditors. After the re-
assessment of the lands of the Common.
wealth in 1875 and under the operation of
more stringent laws to insure honest returns
of personal property and income and licenses
for taxation, there is just ground TOR be-
lieving that without any material increase
OF the present rate Of taxation q sil1-
cient revenue will be raised to meet the
full interest on the debt of the State,
and thus to reestablsh her credit
in the commercial circles of the world. The
only mode by which these pleasing results
can be delayed or defeated is by linking the
honored name of Virginia with reputation,
which, in the opinion of your committee, Is
but another for disaster and disgrace.
Your committee therefore recommend that
the bill for appropriatlng all the money 10
the Treasury in excess of the current ex-
penses of the State Government to the sink
ing fund be rejected.