The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-03-30
The pebt-The Funding ACT.

Owing to combination Of circumstances
,hare Ia q widespread hostility to the 'uno.
ING act. The two most infiuent'si oo'ee''on -
30 /, are: First, the general oene' 'nes -
rsssed the Legislature by bribery aao'
.e,onarr. ,ba, the co,npusion TO pay interest
.h-ouoh The funaing-act coupons makes the
e.,,o raw whether she has the means to pay
-. although the Government itself be
.on,,e,Icd thereby to stop for the want OF
,oonev to carry it on. There are other causes
~ hostility to the Law, such, for instance, a
tho making i. au electioneeripg machine.
Tho ssn:rants to Office have so employed 1t
,h.. the public sentiment has been
,.eadilv inaaned against it. The decision OF
the Court Of Appeals declaring the act
constitutional subdued the feeling tempo
r.,,lv. bu, this seems latterly to have pro.
,,oted is growth, just rs the temporary
xnothering Of fire, so far from diminish
ing Its violence, enables Il to break out again
With increased power.
So strong is this feeling that the minds OF
those who have great II not controlling
rover in the Government are directed to
,he question, Ho,c shall ice get rid Of the
n.nd;ao ACT? And that question takes pre-
sedence Of the question, Hoto SHAH zoe pro-
eide for meeting the pubic debit
It is better to look these facts in the face
than to shat our eyes to them. They bring
Us TO a critical condition. And Is there no
way 70 rescue the State from the dangers OF
repudiation3 Are we to crafty hostility
to mere law by plunging the State into
rujnf This Is a question for every leglsla-
tor aDd for every citizen to ask himself. TO
." Eight 1t out" on the funding act would be
initiating the blind giant, and dragging down
he temple upon ourselves.
It is time that this rage against the fund
inc act were tempered with little good
sense. It is an act out Of the ordinary course
Of legislation. But laws authorizing the
issue Of bonds have been passed before now
setting apart resources for the payment OF
interest upon those bonds, and so passed to
give them credit and ready sale in the mar
let The obligation of the funding act
amounts to nothing more than the obligation
10 pay just debts. Wouldn't 1t look a little
better to make an effort to pay than to at
tempt to get rid of the obligation BY simply
refusing TO mise the means Of paying? Oh.
this is all wrong, wrong, wrong! r,
Governor KEnPER proposes another effort
by conference with the bondholders. TO de
termine upon arrangements by which the
work Of paying may be begun. Whatever
may come of that proposition it is clearly
the duty OF the Virginia Legislature to do
something towards increasing the public
revenue.
The State Is poor indeed. But she is not
pauper, and she has government OF her
swn and must continue it. She has, more
ever, honor to protect, and civilization and
industry, and trade to cherish and eDcour.
age. Bankruptcy will impair and diminish
all these and ipfiict upon the State almost
irreparable injury injury which estimated
IN money would greatly exceed the amount
Of the whole State debt.
Shall it be said that State which con-
sumes annually s19,0O0,0O0 in ardent spirits
is unable to pay Sl:2O0,CO0 interest on her
public debt? That would be bad tale to
tell to the world. We beg gentlemen to
change their tactics. Why fight the
Funding bill! TO no purpose while your whole
mind and soul and every power or your in-
te!lec,s and your bands should be used to
ssve the honor and secure the happiness and
prosperity Of your noble mother Virginia?
Let the past 60, and let us save the State.