Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1875-01-20
.,o,. Gazette IL Virginia Advertiser
The Continental Debt.

The following is the bill. which Mr.. u. Y.
Rouod, Radical, OF Prince William, attempted
to have referred 10 the House of Delegates on
Monday, noticed in that days legislative pro-
ceediogs j.
Whereas, it has been the declared policy CT
the State Government for several years 10 aVolu
''repudiatiou," aud to preserve the noool
of the State; aud whereas, to TINS enc Tue
prcseut State Of Virginia, which came lDto ex-
isteuce January q, 1870, has by the passage
of the Funding Bllr' promised to pay two
thirds Of the debt Of the State OF Virginia as
as it existed in 1860, With interest con- poona-
ed from 1860 to 1870, and has issued certih-
ca,esof Indebtedness for the remaining QUE
third OF said debt, being the portion due from
West Virginia; aud whereas, on the 4th day OF
July, l776, the COLONY of Virginia. occupying
the soil now occupied by the States OF Virginia,
West Virginia, Ohio, Indiana, Illinois, and
Michigan in connection with twelve other col
opies did declare their Independence OF the
Crown of Great Britain and proceed 10 estab-
ish the Government of the United States OF
America, aud 10 pursuance thereof incurred
a large debt, to wit: Three hundred millions
of dollars which was paid in paper money com
moply called "Continental Currency" which re-
main, uuredeemed to this day, to the great
''dishonor' of the thirteen colonies aforesaid;
and whereas, the just proportion OF the said
debt which should be paid by Virginia is estl-
mated at one-teDth OF the whole, to Wit:
Thirty millioos, which being compounded every
ten years, in accordance with the precedent OF
the Funding Bill'' aforesaid, now amounts to
one billion two hundred aud eIghty-elght mil
lion four huDdred and nioety thousand one
hundred aud eghty.eight dollars and eighty
cents: and whereas, Virginia on account OF her
proximity to the National capital and on ac-
count of her historic fame is peculiarly interest
ed in avoiding the lightest appearance OF re
pudia,iou," and iu maintaining uusullied thu
honor and Integrity of the Nation founded by
Washington, Jefferson, Madison, and her
other illustrous sons, aud has shown by the
passage of the Funding Bil' her willingness
to pay the debt of former state governments
occupying the soil of the present State OF
Virginia.
Now. therefore, be it.
Resolved, l. That the committee on Finance
be instructed to report bill to be entitled
Funding Bill No. - funding Virginia's
equitable portion OF the Continental debt
Resolved, 2 That the said committee be
farther instructed to provide 10 said bill for is
suing Certificates of ludcbtedness tor the por-
tion of said debt which should be paid by the
Otales VI w esV sluid, outo' !uuiona' i'iuo'o
and Michigan.
Resolved 3. That the said committee pro-
vide that the coupons upon said bonds shall be
made receivable for taxes.
Resolved, d. That said committee is request
ed to report upon the cxpedieucy of Instruct,
ing our Senators and Representatives 10 Con-
gress to urge the passage Of au amendment to
the Constitution of the United States 80 that
the present State of Virginia Can fund the
debt of the Government which occupied the
coil of Virginia from 1861 to 1865.
Resolved, s. That said committee be further
Instructed to Inquire aud report upon the ex-
pedieucy of payiog any debts which may be
found due from the government formerly main-
tanned 10 Virginia by Capt. Smith, Powbatan
and Others
Resolved, s. That said committee report by
hill nr oth harujre