The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-07-27

Contained no other provision on th's suoj-st,
br liability of the State would have oeep
hat of trustee merely, and her liability as oo-
igor forever discharged. -"
Rnt there IS a further undertaking on Tue
mart of the State as expressed IN tne on',
whteh limits and explains her Liability as
,rostce She undertakes that pdyHent OF
said a,roun, (,he unbranded amount) whn 10.
,erpst thereon at the rate prescribed 10 Tue
hond surrendered arsa be prouidea FOR IN dc-'
rn,Ssnc Nth ssoh settlement ~ snail nere'
sS,er be had between the States OF virginia
and West yirginsa In regard to the pnonc
aeJ, Of The State OF Virginia existing at tne
time of the dtsuezl berment." .s,
She is thus created the agent OF the cIeus'
tor to effect settlement With West p'lginls s
He leaves to her the whole question OF sel'
element. aps clothes her with full power ~ :,
make IL; aud pledges himself 10 aolue ny ,t ~
and to settle with her .ftn dccoTddHce Ula.
such settlement" Now, whether Vls'n'ss
viii settle with the creditor for tne uniuhoee
amount represented by the certihcate o, no.'
or for any part Of that amoun', aepenus -: :
tireIv upon the settlement she makes VII
West Virginia. She Is bound 10 gooa iai'u y
TO use all the means 10 her power 10 enecs
settlement and to make it on the oest H, U.s.
| II ia To her interest to settle II on tne pssS
terms and as speedily as possible. aen tns
settlement is made she IA bound 10 sett'e VIZ WI"
her creditors in accordance .o'M sue" 's.. ao.
mest"; but not till then. IDls IS tne ms ao
,h;rd NJ the debt. It is 80 nomTWed 10
tua hond - and the creditor has assented to
II hv accepting the new bond and cert'hcate.
ID She fails Sin suclGssettlement," after max
inc an honest tff)rt to effect II, DO" can toe
jrreditor demand "payment of said amount
when no settlement has been maze! he cau
only demand "pdyment Of sa1d dnaounl
g In accordance with such settlemet4a auu
when there ia no settlement there can"oe ~
demand for payment, for The payment "
said amount" must be SIN dcc0Tdd"ce ue''
sunb se,tJementn He has left the conlro'
and MANAGEMENT Of toe settlement 10 tne
S,o,e and he must abide the result, ana MS
nIain, is only in " accordance UtM Such SET
Uonoot" Such are the PLAIN words Oh tne
h;lI and such are the terms OF the new con'
tract. A., ~,
that Virginia does not promise to pay th's
unfunded amount. She makes no distinct
promise to pay one dollar of it. Her con
tract Is that it ",oiU be produced TOR In &C
cordauce with such settlement us she makes
with West Virginia" Her undertaking !.
that it "uW lie provided for" sue does no.
promise 10 pay absolutely, or 10 give nc.
bonds in "payment Of said amount ou.
she promises that "payment OF said amount
wiI, hc nrovided for "in the settlement Wild
West Virginia." What sort OF actlon can
no maintained on this contract! 1t IS not
nromisa 70 nav money or to deliver bonds.
f. is q covenant to endeavor to effect settle
J ment with West Virginia, and then TO settle
with her creditor "in accordance with sucn
settlement" and she can only be liable TOR
breach of her covenant in falling to make the
nroper effort TO effect settlement with
West Virginia and ifthe settlement DE made
for falling to account for the /" trust" to her
creditor. la that settlement provision Will
he made for " payment of said amount" TO
the creditor, All is TO be embraced 10 that
settlement; outside Of that settlement the
creditor ctn claim nothing. The mode oil
having this unfunded amount and the time
Of paying are to be "proUided for IN &C
corddncc Nth such settlement" Ii the pro,
vision is not expressed in "such settlement
il doesn't exist. The creditor is without
remedy. TIA ler Scr7pta est. 1t is so writ
ten In the bill, and the creditor has given 1t
his assent, and is estopped from asserting
any claim against the State except "dS trtl
be provided for in accordance ,oth such set
uenaemt"
And hence if Virginia fails from any
cause to effect settlement of the public
debt with West Virgins. after making an
honest effort to accomplish it, she is forever
discharged from one third Of her debt with
the assent OF her creditor, and without the
stain of dishonor.
When offered my letter for publication
| did not intend to reply to the views thai
others were likely to present; but your 10
tellgeut correspondent assails that feature
in the bill which is most beneficial to tht
State, and think falls into " grave error
in doing so. have endeavored to sustain
nv position and to refute his; with VIVA
success leave others to decide.
Yours truly, JOHN A. MEREDITH.
We ask the Petersburg Ne,cs and all othe
papers which have been laboring under
mistaken idea as to the decision ID the HIG
GlSBorHAM case to Oct themselves and thel
readers right on this question. We are sur
that they will be glad to DO so. What nos
stands in the way of our proposed comprc
mse1