Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1875-05-25

spccgiatp tie had that fever and he
undertook 10 fix up the public debit
believe Ire teamed that Funding Bin
with hi- own hand.
Mr. II \ Preston here remarked that
Henry Wad,lell. of Stauuton, drew
tie bill and Gov. &cMuIlin remarked
tia Gov. Walker handed 4 i'm person
10 the coaifuitiee. Col. Fulkerson
remarked THAI Mr.. z. then know NJ IRE
about il than he did, but that Gov.
Walker was thoroughly for it and il
inside no differ ence.
Now the bondholders who asked for
this bill either had no confidence in
the honor Of the State or they had
none in her ability TO pay the interest,
or why did they make it self-eXecu-
ting, lien upon the property of the
Stale. Tie creditor who asks for a
deed Of trust on the property of his
debtor believes that the latter will not
or cannot pay him.
Now that the bOndHolder wanted
the bill passed is proven. One John
w. Jenkins & stilied before the com
mittee that pool OF boudholders en-
plOyed him 10 lobby for it. How much
he efused to tell and was discharged.
/ have since learned that he got fifteen
thousand dollars 10 lOby the bill
through. Another man raised among
the \. Y. bundhOlders sixty thousand
dollars to loby for the bill. A p.omi-
nent law yer got $1,000 TO write AN ar
ticle or two for the papers in support
OF it. 1t waS the child Of fraud and
force. When the bill was first pro-
posed the republicans all voted against
ii. The evening of that same day it
passed, 80 republicans and 30 cOnserva-
lives voting for IL and 46 conserva-
tives voting against it. Speaker Tur-
her then proposed that the State
should be forever released from the
third set aside of w. Va, and but Il
votes were cast in favor OF that amend
ment TO 1873 against it. showing that
they meant to bind the State for all
In 1871 about seven more millions
OF interest had accrued, making fifteen
millions of accrued interest on it
Under the Funding Bill We are bound
TO pay the interest, even though war,
pestilcnce and famine should all come,
80 says the Court OF Appeals. Then
any Legislature Possesses the power
TO bind you and tie you for thousand
years. 1t could part with and farm
out the right of eminent domain,
which is a sovereign right. Under it
the cities Pay their tax in coupons at
soc IN the dollar, and the people Of the
country must pay in money at 100.
Is that making taxation equal and
uniform l. makes two currencies
for the bondholder and but one for the
people Under it the school tax of
mill on the dollar can be seized
by the bondholder. thus
overthrowing the school system.
But can you pay this demand Of the
boHdEoldcr? Yes, these of you who
can stand 4 dollar and a half on the
500 can. / have seen land owners
borrow money to pay a tax of SOC on
the 500. OF the IS millions of acres
in Virginia only 3 are in cultivation,
aud must bear tbs tax of she IS. Here
the speaker read from an old decision
Of Judge Pendletuu that land should
not be taxed while nation was al
war, and alluded to the HigginbOtham
decision in which the Court OF Ap-
peals says we arc bound for .he entire
debt, including w. Vas. third. The
whole debt is fifty-twO and q bali
millions. but in 1860 was only thirty
one millions. Our people are dssatis-
fed, discoEtented and are leaving the
State. Talk about immigration! viii
imigrrnts come here 10 pay 81 NIL
lions? II you were going to emi,Srute
20 Europe would you go to Ireland ?
They propose TO put the tax OIL mer-
chants, thinking the merchants can
1 J. a sp,lyi1n IL 81, he tAanF,ln ut,I fl.yy
won't know it.
Now what is to he done. We can
try the Supreme Court. Courts have
been known TO bend 10 public opinion.
ind even reverse their 1--WE decisions. !
would throw every obstacle in tie
way Of the bOndhOlder that is possible
unu he compromises. As to the Nir-
giuians who bold bonds he Ead less
federation for them than any others
As to tie cry Of widows and orphans
Mr.. Stuart, of Augusta. had plead
that he kuew Of two widows, one of
whom had sixty thousand and the
other thirty thousand dollars of bonds
and they had no other means OF liv-
jng. The widows Of this county had
negroes instead Of bonds and they
got nothing lie had letter from
an honest boad3nider in New York,
who said tie had $lOG 900 of them
and was anxious to compromise with
tho State, Did not want the whole
amount aud would not ask il. We
could get a compromise if VIC want
it and get it easily.
The above is but an epitome OF
Col. F's, speech. Some OF its minor
allusicns are omitted. 1t was receive
ed with patient and profound atten
ton aud seemed to correspond with
the views Of the large audience. A.
its close
NR SFrOFN ICEcTT,y