Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1877-03-27
aertcr of Hon. Il. Mt. Hunter

To tie Members Of The General As
scm6iy Of irginj0'
Gentlemen. "A time has come
when, in my opinion, it behOves you
! To take prompt and decided action on
! the subject Of public credit, or our
difficulties VIII reach n crisis when
1t viii he Impossible to arrest the
downward progress OF affairs without
disaster and imputed, or perhaps r0al
disgrace. Already we have ceased
to pay interest, except in some pc
CulIaT- CayOrCl cases y here the holders
a t taX-receivHble coupons are endow-
ed, as it is supposed, with the prigi
lCge which no State ought ever 10 en-
trust out of her own hands of collect
ing from her their own debts which
she owes them. For 5ome time past
! the interest on what il called the
"peelers," winch have no such priVI-
legcs, has been accommodating. That
| is the debt amounting to S0OOO,OUo
the failure to pay interest on which
rObs widows and orphans almost ahso-
iuteIy Of their income, and there were
! outstanding On the lEt of October last
$Ol5, 4l0 of taX-pRying coupons now
receivable to the extent to which they
have not beed paid on when the taxes
are col ected, These | WAS concerned
to learn not long ago are even now be-
ing collected for the purpose OF being
paid for our taxes in this State. IT
interest, Other than on the tax-paying
coupons goes on ECcumUlating, our
debt viii increase until ii gets entirely
| beyond our control, ana we become ir-
retrievahly di~graced in the estimation
of mankind, and 40 much Of the reNC-
nue. will he absorbed hy ihe coupon that
! nothing will he left for other purposes
not even 10 support the Govern
ment, which manages to puy the sAia-
! rlcs of the very judges VINO decided
| that the owners of these taX-paylng
| coupons had he supreme and eNclu-
/ sive privilege of taking, first, the
! whole revenue Of nf the State to salts
| all their Ge manda, to the very letter
| Of the obligation, before anything
/ was given 70 the very court when
| had armed them with this dangerous
authority, which, IL pushed to It's cH-
! trrme limits, would leave the state
without the means to keep up the ma
! chincry of government and protect
property itself except 10y the old rob
! ber-law,
"Thqt he should take who has the poVer.
Aud he should keen who can
For one, cannot believe that ihey
would give any decision ar series OF
decisions that would withdraw from
the homestead, fron female chastity
and public liberty nnd private peace,
bv possibiity, the protection OF gov
eminent Whenever he puhlic creditor
NAV choos, Ia destroy IT, On the
contrary, hope the state will ciassi'
ry it's obligations recording To lhcli
biuding force M IT, Reserve
enough Of its TsvenDe to preserve the
Government, protect society from an,
archy. and thus say" its existence, ana
enough, too, to fulii its = edges ON tue
subject of education, and guide ana
guard its members in wise ana IN
telhgent progress al d protect them II.
lust and peaceful association Ie'
tile Lcgisla ure reserve from It's rove
nucs "A certain prop ortion of ~ income
to keep Government ami It's lhs,I"
nrnts in existence. Experience hS'
. already shCNu the amount al 'hA' }"
sgch "a purpns". 49,,
i am Informed by Nh Shackelioro