Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1877-09-25

Col. John L. Eubank, the late Sena-
tor for the District composed of Rock
bridge and Bath, has been renomina-
ted, and in his letter of acceptance,
ss5s:
II hear It said that am opposed to
ny opmpromise of the debt, even if a
compromise should be practicable. I
am not but have been among the most
willing, as my brother-senators will
bear me witness, to mature1y consider
every proposition of compromise that
has been suggested to the Legislature
during my time of service. Further
more, am of the opinion that the debt
can be compromised, and believe, from
information which am not authorized
to give, that compromise will be pro-
posed to the next Legislature which may
be acceptable to the best interests of the
Senate. I knew it was being matured
last winter, but, think, was not pre-
sented for the want of time. 1 do not
say that endorse the provision, for I
do not know them; but when presented
l will anxlously and maturely consider
it. 1 am ua0lterdbIy opposed to for
alton, and reputation will result in ru-
in to our State. 1t would destroy con-
fidence, depress business, demoralize
our people, humiliate the good, utterly
annihilate our State pride "a sentiment
without which no State can EXIST, and
cost many times as much as it would to
pay the debt. 1t is a mystery to me
that the businessman, and the labOring
man, too, do not comprehend the latter
view of the subject. The man who
works for his daily bread would be more
directly injured by reputation than he
who lives by profession. For the la
borer to accumulate he must have en-
ployment. He will not get it under the
depression which reputation will bring
to all branches of business. The sense
less threat of reputation lit is senseless,
for the highest opinions in the land hold
opinions adverse to it, has already very
much retarded the return of prosperous
times.
s'Be not deceived by fair promises of
what will be done. Let the reputation
lists show how reputation is to be accom-
plished. A mere assertion that it can
be done does not do it. How is the Su-
preme Court of Appeals tribunal
that has control of this question-to be
disposed of? Let your good sense,
which tells you better, control you and
you will not aid in defaming the fair
reputation of our old Commonwealth"
GENERAL MALONE ONLY AN INTER
EST ADJUsTER.-Wea are really surprised
in reading letter from General Malone
to Major E. L. Brockett, of Alexandria,
dated Petersburg, September II, 1877"
which positively defines his position
with regard to the public debt to have
been exclusively confined to q re-aoJust-
naent and reduction Of the interest upon
the public debt. "Only that and moth
ing more" Hear him:
OF all the Alexandria delegation you
alone stood my friend. Your colleagues
could not stand the "Repudiator Ma
hone" whose plans for re-adjusting the
State debt, when fairly construed, was,
in fact, to avoid the certainty of repudi-
alton under the "do-nothing policy"
which had prevailed for years, by bring
ing the rate of interest within the ca
pacity of the net revenues of the State
a0ithOut an increase Of the present rate
of taxation, and to give to each class of
her creditors an equitable participation
in that net revenue. This, in brief, was
my plan of adjustment, and il no de-
gree does it impinge on that principal
sum which should be determined on as
the amount which the State ought lust |
ly, and will undertake, to pay. l un-
dertook to deal with the rate of interest, |
and was traduced as repudiator by
people in your midst, and singled out,
among all the candidates, as a Pariah
under no circumstances to be voted for.
1t will DO remembered that General
Mahone's letter was an energetic presen-
tation Of the extreme embarrassment of
the State, and Of the hopelessness of all
ideas of charging her revenues to get
relief. So forcibly did he state the case
that there seemed to those who read his
letter no other inference to be drawn
from it than that its author advocated
compulsory adjustment" Indeed,
the leading journals which supported so
ardently his claims adopted with evident
satisfaction the phrase enforced equi-
ty" as their favorite solution of the
Generals not very clear pronunciamen-
to.-Dispatch.