New-York tribune., 1874-12-03
THE VIRGINIA LEGISLATURE.
MESSAGE OF COY. KEMPER.

RICHMOND, Dec. 2.-The General Assembly
met at to-day. Gov. Kemper submitted his annual
message which, together with accompanying documents,
covers 40 pages of printed matter Tae following arc
the extracts:
FUNDING TIE PUBLIC DEBT
recent correspondence between this office and the
accredited agent OF the American Bond Funding and
Blinking Association, limited OF London, Is herewith
communicated. IL will be seen that the Association
offer to retire and recapitalze the neWly-assumed
debt proper IN Uniform Obligations,
payable in 80 years. and bearing an annual inter
est Of per centum, sterling. The details
OF the plan embodied in the draft OF oll which
forms part Of the correspondence. They stringent
and without doubt would insure punctual compliance
with the Obligations or course tue bill should be
| amended IN many minor partcuars-'Ich as the ono
subj iactng the state suit Ia ! Federal couTt and
others which might be mentioned. But s provisions
being thus amended. involve important supuatons
no REIMBURSEMENT Of authority, no remedies AGAINST
the STATE for which precedents may not BE- found III the
| habltual legislation OF the past.
My infOrnltiJn not such 10 warrant the ex-
preston OF any positive opinion to the nature and
character Of this Association, 20 its ability TO
carry proposed plan into successful execution The
plan itself IL, my Judgment inst and eXpelient' ana
proper amendments 1t ought 10 be adopted, pro-
viicd its propounIer3 shall first clearly AMI couclu
| siyey show that they able 20 accomplish 1t ana
! ought TO be intrusted with II.
cepted the executive should be clothed with authority
to contract win any pares Of uniOuted cspon
sibilty for the retirement % the deDt terms not
less favorable to tIe Commonwealth than those low
exists for the nope thar adament OF the dcot
be ef,c-i II creditors surrender the bonds they
| now lOid the ,crns proposed. they wcnG receive
| good and valuable consideration cOr he surrender.
rney wOI1 receive bonds with Tar better security ana
greater irkrt value thIn those tHcT now hold They
would receive the fail Interest, agreed on With GER
GIaIy AM pJar.ItI:Y; whereas .Aey Low .yc ~
lrrrgnIarty o. other hand, such an arrange
meuJ NOAii u.nl ely ana ItrIcly r-Irga t4 ate oi
IurcuS whlch are gr.ater thll can hc at thI-
Lane; while would suhiec- the state TO 40 greater
immediate bEatuns tu.u can D." intt oY tat lu eNtl
ton OF ito Cax.De resou ces IN conjunction "lth rd
economy OF admins r"to4 /. Is IN vain tp 'e ma.
ihis arrln'rh ut 5rs zap or A'i ~. pI' '.'i', irt
worse led already. A. unucs ana rel Yes "a Of tue
most disastrous en,aL-l iIc.is lu winch Our uIaut,
! were ever lDyJiYci. l. lO''iles h," 'Nl- id'"''
wnIcn We cI- perform, for eAs''n% Obligations WAlch
! We cannot now perform.
PLANS FOR PRoWDryG A STATE CURRENCY
The plan for proviing constitutional STATE currency.
prepared by tue Treasurer NY request i4 submitted
tor your consideration. IL Is believed IT'S cureIuly
! guar ted enIc,Helt wJIiI relieve QUE OF the most
griegOul wants of people L is iu ylin we are told
that a supply Il Nltiond currency be obtained by
drst comply wan the req Irement.oi oi the NATIONAL
DlIAi.g law. sIcn eoaasei d. ..E .tu as Jla al
10 starving and 1rsu,1'e man t' bly bread Tor
cash. IL Is ln'so''i1.e or veopc sri2pei Ci thcr
means AID loatd NItb dC3' to pr.clr National bonds,
! To- he exchanged lDt y ,,lpud, currency Am)D- tle
pcOpr VI tIe interior, u many pJtcIs Ot LA Sale .Ho
bI,ies. u so,Iet, II taIsla,s1 ir most primitive
puucipes u barter Il So S1te curIehcj sd1"it nave
less tchdtucy tn4I NtJOId D4nh l"'rS I'D 81" ol anu
be swallowed uD b. 90 uIert.I c'ht'"', "t.sGt iIt
Commonwealth U ~dUpUs3 tlat IncJnr rrniri't nI-1t
i ANN. r.ag-i Ill .ut, Ic ~t,el, ass. tuaC
r' r,s,J .r.,.. ..fr,.s.. 'uo , or c,.. .lt1u.
t,.,1',r $50, L. -..I'fv u, tttrsl r,.t.. aIv.
80 Va ..'. :. '.. t,,t t,a p few wears
! 49,. "a -, ,..g. ,y.,r...t ,eJa1 llI.,
CONSTITUTIONAL AMENDMENTS.
recommend tua5 tHc Substance ald prE IDlc OF the
! ,-..-. ,..,. ,..si.i.r- ,. er.b.lird IN .dIIrI5ual
| '""""'"- P''i
! aW'udmrHlS u lh' N'''-'---''"'
! Fjyf.. INT (ycrpt uE bills affecting me r-ht or
eminent domain d-p -urn other matters ut- I'D Doe
,ur, illy an . aI. t,rt ia tut tLsl4,IfUIJ D."
..I prIyt o OF i0c. y4 -4l be- Hy -Ae q l-
! .rr,I ,i.ii.n,iv
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