The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-08-02
=. = .r.'7yyv. hatsr ~ RIring Brothers,

Letter Of Mfr. Webster 10 Bring Brothers.
ayntober 18. 1898. ysr ans wer to certain fuf
they haa addressed to hiE. Virf
ninis Aforementioned them her SCENTS to nef
eotiafe the fsrst Ioan1or obtaining the means
Of CARRYING forward her projected system OF
internal improvements, and the correspond.
ence Il, question furnishes evidence alike OF
the extreme cautiont Of foreign capitalists II,
the mstter or Investments aud OF the strong
.aasurauees which. we're usged.t to overcome
their scruples. Says Dir. Webster; Il
It.Yourffirstibquiry Is whether the Legisla.
t,,1re OF ore OF the States has legal and con-
stitutiouat power to contract loans at home
and abTo1d. To this answer that the Lee
eis,ature OF q State has such power, and how
snv doubt could ever have arisen on tois
noint It Is difficult for me to conceive. Every
State Il an Independent, sovereign, political
except IN SO far a. certain
powers, which It might otherwise have ex.
ercised, baye been conferred on o General
Government, established under written
Constitution and exercising It's authority
over the PEOPLE of all the States
Il has been said that the States cannot be
sued OF, their bonds. But neither could the
United States be sued, nor, suppose, the
Crown of England, in q like case. Nor
would the power Of suing give TO the cred
itors, probably. any additional security. The
solemn obligation OF q Government, arising
on its own acknowledged bond, would not be
enhanced by judgment rendered on such
bond. If it either could not or would not
make provision for paying the bond IL is not
probable that it could or would make provi'
sion for satisfying The judgment. !
"Tbe States cannot rid themselves OF the
obligation otherwise than by the honest pay
ment OF the debt. They can pass no lazy
impairing the obligation of their contracts.
They can make nothing tender In discharge
of such contracts but gold and silver. They
possess all adequate power OF providing for
the Ease by taxes and by internal revenue.
They cannot get round the duty nor eyade
its force. Any failure to fulfil their under
takiues would be an open Yiolltion of public
faith. to be followed by the penalty of dis
honor and disgrace penalty, it may be pre-
sumed. which no State OF the American
Union would be likely to incur.
I "I hope may be justified by existing cir
b cumstances in closing this letter with the eX..
preston of an opinion of a more general ma
ture. II Is that believe the citizens OF the
United States, like all honest men. regard
debts, whether public or private, 10 be of
moral as we'll as legal obligation, and that l
trust may appeal to their history from the
moment those States took rank among the
nations of the earth to the present time for
proof that the belief is well founded. II it
were possible that any State should at any
time so entirely lose her self-respect and for
GET her duty as to violate the faith soiemnly
pledged for her pecuuiary engagements l
believe there is no country upon earth, not
even that of the injured creditor, in which
such a proceeding would meet with less
countenance or indulgence than itwould re-
ceive from the great mass of the American
people," "|
From our appealing so often to Mr.. Web
ster as weighty authority on certain polltl-
cal questions you will rightly conclude that
we have the greatest reverence and respect
for the iIlustrious New England statesman.
Still. let it be distinctly understood that
neither he nor any other man, dead or alive,
has ever been able TO shake our faith 10 the
prime article Of our political creed, which Is
that before all other principalities. poten-
tates, and powers of the earth we owe fealty
aud allegiance, duty, obedience, aud homage
to the State of Virginia, the Underwood
abortion to the contrary notwithstanding.
-. - as... "'-s ".'' NJ