The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1875-12-30
IIe stated that the two cent tax was repealed

OF Richmond, who stated that II che tax was
repealed a company would be formed in Rich
fmond which would establish a distillery i'll thai
city which would mash 1000 bushels of gral
per day. at that rate they could produce 200
900 gallons OF whiskey per year, which would
come into direct competition with our whiskey,
and effectually exclude it from market. He
lventured to predict that whenever that distille-
| ry is established, our distilleres will be as
| clamorous for the tax as they are now against
| it.
Mr. S. said that in framing the tax bill, the
object was not to raise a great deal more mon
ey, but to distribute the burthen Of taxa
| ton more equitabiy. He also foresaw that it
would have a powerful moral influence by
| showing to the world that we recognized our
obligations and were disposed to do what we
were able to meet them, and he proceeded to
show that such had been the effect, both at
| home and abroad; and our merchants could
fnow, with more confidence, ask credit in the
commercial cities, since orr State has shown
the purpose to oct honestly.
Mr.. s., in earnest terms, denounced repudia-
! tion-what is reputation bat dishonesty? What
| is it but refusal to pay a debt which no man
can deny to be just? 1t will not do to cry out
we have lost our slaves and other property
What had the foreign bondholders, who loaned
/ you this mohey-what had the Indians whose
| funds you borrowcd-or the widows and or
phans who invested in Virginia bonds, to
do with the loss OF your slaves? They had no
agency III depriving you OF thenl and are in no
wise responsible for them.
Mr.. s. then proceeded to look at the attitude
that Augusta would place herself in, by giving
collntenance to reputation, or sending repu-
diators to the Legislature. He called the at
tention of the people to the fact that Augusta
paid SOL 900 into the Treasury and drew from
the Treasury 100000 for the Hospital, $4,000
for D. d. q B. Institution, $4,000 for public
schools, and SIS, $50 or $4,000 for criminal
charges and other general expenses OF govern
lnent. She thus pays irto the Treasury SOL 900
and draws out of it nearly $130.0o0 ! In other
words she Travis out nearly $40, 900 more than
she put iu
So much. said Mr.. S., for the account CT cur
rent receipts and expenses Let us now look
At the account III another aspect The whole
debt of Virginia is, in round numbers, $50, 600,
1000. Augusta has about one-fortieth of the
population and one fortieth OF the taxable val
ue Of the Communicable on either basis,
therefore, she would be responsible for one for
tieth Of the principal Of the debt. Now as
500, 900 is che one-fortieth Of thirty millions,
that would be her share il We were now called
on to make i final settlement of the debt
The enquiry then arises, has Augusta had her
share IN the expenditures? Let figures All
sWer the question. There has been expen-
dej in Augusta for the Lunatic Asylum and d.
roa1 $50 ann ~ Waiin,. Ma.i, q, $3.50
liz 71oooou snIy t,
,nn non tat n
the cost the ParNersburg road was not expen-
died. i'll Augusta, but large sllale was, and the
whole bore directly OH her interest. Here then
we have an expenditure equal 20 her liability
for the S750,O00, and thus the account might
be considered square. But is this all? By ne
n y Io,,;i
Road extending 40 miles through her territory.
This road cost $50. 900 per mile, ortwo millions
OF dollars. Of this the State paid three-tifths.
equal to 81. 200. O0O! Put this IS not all. rrhe
tunnel at Rockfish, with its approaches, from
WAYNE sborougn and sIeechun,s River. cost
81 100000, which was paid exct.s vely by the
State-cllarulno one-llalf of this EXPENSE tu
Augusta and we have 1906, 900 more toliier debit
The result Is. that for her obligation of $780,
900. she has received a return actually expen-
eled in her borders Of 81, 75o, 0oo-or an excess
OF two millions over her fair share! How
then would Augusta appear represented. by re.
plldlators would she not stand dfsgraced 'n
tile eyes ol hel sister Cothlies
MI STUART re1efFea TO the Iac5 Wihcn ap
pears from tlle 2hd AUDITORS report, theFe nae
peeh reauction a OF me lfinelpal OF inc p'lpllc
.leol, peIMeeli oJsn oept'' 10, ailu oulh DeiI,-
-, q @Soo, ~
explained 1ttliF Tue nature ana operation OF
Ihal iiilu s.iau ilis agency ~ eniiil an! con
=. ~ esSil reg iisW every yea
TIRE lilbefsso on eiie sSV55,uJJ OF SINKING fHiH
M's apptiear ~ puylllS ap portlo'ls o. Tue pun
~ uepI. ne oollus 50 p''Ic'ltseu are hoI Gun
eeilea D1S aaaeu 10 tue sinking llli'i, anu con
tiiius 70 pear iterest 70 Ds apleHst hug 1T fd
Is 5e!o1nstanfIy increasing, while the debt il
being annually reduced
He spoke hopefully Of the condition of til,
State; thought we had turned The sharp cor
uer. and better DAYS were before MS,
Mr.. S. ad9erted to tin, funding bill. He wa,
not in the legislature when it was passed IL,
said it was very fashionable to abuse it, but Ii,
thought mlily who denounced did not under
stand its provisions. He said that at the clts
of the war the ante war debt of the old Stat.
Of Virginia (including West Virginia. wa,
about forty-fiye millions. Our own Court o.
Appeals had recently unanimously decided
that both Virginia aud West Virginia were
Jointly and severally lftole 1or the WHOLE
viro;n;, heino we'll aware Of this liability.
souoht to make n new arrangement with her
creditors nv which she would assume her share
ESTIMATED at 2ds) of the old debt. and turn
t;,em over TO West Virginia for tile other third.
This was fine proposition contained in the
funflino bill. and tie effect of it was to lift
fifteen millions OF debt off the shoulders of
Virginia. 1t was a mistake to suppose that
VIRGINIA is still liable for the share of Wesl
Virginia. She only stipllates that if in any
future settlement with West Virginia she
cIould nollant .nv rnonav She would bnll it