The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-07-30
A Minnesota Man on VfrginiR and Her

n InncSOIA -Ykhu uuA hui
Debt.
~ SAINT PAUL, July "a, 1877.
Editors Dispatch: Through the me
dium Of a friend / have lately received
several copies of your widely circulated
journal. and have been much interested in
the perusal of it's news columns. By rea-
son of certain association ] have always
taken a. great deal ofIinterest in tue grand
old State of Virginia. Nor is mine an Iso-
lated case. For travel where YOU may
over the Union, or .eFen in Canada, and it
will be found that, the people. as class re-
spect the name Of the Old Dominion. and
take pleasure in studying the past history
OF the State and inauirins into the present
status of affairs within her borders. Du.
ring the past decade / have travelled in
most all the States, and have met Of course
hundreds, Of men who served with
either the Federal or Confederate mr.
mics in Virginia during the late
civil war. These men were almost univer-
sally pleased with the general advantages OF
the country, and have acted as good adj
yertising medium in the way Of rendering
her people popular, as well as incting q
spirit OF emigration to the State.
] haYe been specially interested in the
news. matter OF your columns relative to the
approaching political campaign in Virginia
and the predominatlng issue OF same-thc
public debt. AS an outsider, who can view
matters from IN impartial standpoint, ] am
free to say that an extended observation
iustifics me in expressing the opinion that
the people Of Virginia can lily afford to let
this great question, so vital to their inter-
csts, remain longer in its unsettled condi-
| ton. It is gigantic question: problem
| hat, ordi ipor g sbin ~ f,a
| ing talent can sovc-but the present and
past high reputation that your people
sustain for determination, energy, and
honesty OF purpose, added to un-
questioned fnancicring ability, will great
| " suffer il they do not lay their hands
on this public-debt question and settle it
promptly, intellgently, and finally. Many
good man residing in the North and West
have heard say $50 soon as Virginia set
ties that publc-debt matter | am going down
there with 4 view OF investing and loca-
ting" Thousands Of capital is waiting at
the doors OF Virginia for definite action on
the part her Legislature. Capital is
always cautious, and is, from the nature Of
things extremely slow. to seek investment in
localities where 1t is impossible to determine
what few years may develop in the way
OF enormous tax-levies, continuous wrang-
ling, and final bankruptcy. Hence / sim
cerely trust that such Journals as the DIS
patch, which must to preponderat1nS de-
gree shape and control public opinion,
will sec to it that the coming State Com
vention places broad and emphatic
public-debt plank in its campaign platform.
1t is very probable that Virginia., as she
now stands, could not bear the burden OF
all the old ante-war debt, nor should she be
| I'll lNosf Virnripf1 O1r1St
assume her Just proportion. II her legisla-
tors have not the honor to compromise with
the present State OF Virginia upon an equi-
| table basis, then the financial world will not
blame the old State for instituting and adj
herring to q compromise with her creditors
based on the assumption that q fair proper
ton must be arbitrarily allotted to West
| Virginia. The State was created by violent
and illegal act OF the Federal Government,
| and believe the holders OF the old Virginia
State bonds will be willing to compromise
pro rata with that State, and take their
chances of compelling payment OF the re-
mainder from West Virginia and the United
States.
Virginia cannot afford to repudiate her
debt outright. That will never do. The
State will be greatly the loser in the long
run. She will have no credit at home or
| abroad, and will lose the respect aud SYM
pathy OF all honest businessmen. Capital
and all desirable immigrants will cease to
enter her borders, for both will naturally
avoid investments or business connections
and associations with II people who delib-
| crately repudiate their assumed obligations.
Let the proper authorities request such
men as R. NJ. T. Hunter, Governor John
S. Phelps of Missouri, Tilden Of New York,
and Lem. Say OF France, to take hold of
! the matter, and ! feel assured they will
devise q settlement Of the much-compli-
Gated question which will be favorably re-
ceived and acted upon by all parties at in
| tereSt.
Then will come the golden era for Old
Virginia. People from all over this coun-
try, as well as from England and Germany,
will pour into her borders, attracted by her
unequulled climate, varied productions,
| fisheries, &c. Why, the gold mines OF Vir-
ginia, If developed, would yield revenue
sufficient to pay of the State debt in ten
years. There are hundreds OF farmers in
this State and Wisconsin who want to emil
crate to Virginia, and will do so Just as
soon as that public-debt business is settled.
Some are even going anyway, and more will
| follow this fall. They cunt stand these
nne-months' winters and the grasshoppers
combined. And will conclude by saying
that your humble servant is merely waiting
| for Virginia to straighten her finances out
to take up his abode within her limits.
NORTHWEST.