Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1877-08-31

ffiEOt
~. Barbour arst spike Of tee F1ndioz bill
az the gres. obs:ac!. in the 1sacjas'nens o. our
diG.o,ties. and aso the decisions OF the Court
of Arpe.!s IS q s,uu5iiog block io the way.
He frs: spike Ct the principles bed 81 the
| Court Ct Appeals in the case o. Hlgg!obottan
g. the Commonwealth Us Gtattsp,j By which
the tHo States Of Virginia aud West virginia
were touod equally for the debt OF The STATE.
| he thsn referred incidentally 10 the remarks Ct
| Judge Staples rpon the cons.!iutlonsIIty OF The
| Fuodioe bill, and the co.0llary which Judge
Staplzs drew from the decision Of e M oll:g Ct
| the court. TIE court said thar Virginia had
! funded t~otbirds Of the debt, leaving the other
bird 10 be paid b. West Virginia. Blu: th.
Inference, to the judges mind, vas irresistible,
if YES. Virginia failed 10 pay the remalG!0g
| third reverted back to Virginia for paynao'.
| The creditors, be felt satisfied, regarded tbs, &:
| the true construction, 80 tia. virtually he
whole debt is The debt OF flrglD!s. L=a9inl
these views, however, cut OF the qaesIloD, Nr.
Barbour though. that the United Sss;es.55 the
act Of severance, were booni 10 !E,S, equity,
and morals to pay the debt 70 the relief Of Goth
States. Morally, the courts ii |Hgi5ia seem
70 regard Der as bouod for 1Io third; 0! tie
debt. But suppose she "as;; We are cot tonod'
=a7s Mr.. Barbour, 10 paT of this moral obl!ga-
ton By violating the Constitution Of Virginia ;
and, particularly. We are not bound b. immoral!
means to meet TIL: alleged mora! obligation bg
the passage of Funding bill. Conceived 10
fraud a1d drought forth in ib,QlIty. tie
was emphatic ie deDou1c9g this siupaoious
Eroog and the agencies Thcn brought it about!
add be was equally emphatic c bis dcct;ra:lc o
that be would give % aid 10 enforce such 2
contract as tie Court Of Appeals calls this
Funding bill. he believed With Judge Staples
that it Ess unconstitutional, and, SO far a, the
the tax payer vas coec=roed, vas oIlan
pacun.
Mr. B. said The State Conservative Col7e0
ton Of Virginia called for area3jus:me0t Of the
debt. Now, how is it to b. dooe; The Cou't
Ct Appeals has given an opinion. scd they
could oct have studied Cut one more oppresS!7e
to tie State and more repugosn: to Der people,
But even they eou0c;ate the principle that 2
Government which suppreSs:5 another Is bound
for the debts OF the suppressed Government
Virginia com=s W;thia tue pug7!cW OF this de-
ci:ieu. Sir. B. took Texas as a. !lIus;ratloo.
By tie annexation resolutions the ''Relubic"
was suppressed; but to vi!ste the doc'11a OF
assumption, az express rroVis!oo was iacorpo.
rated in these resolutions that the United
States Government WAS COT t:uud and would
not pay the debt Of the Republic Of Te1s5 Bu:
mark the sequel. The creditors kep: up such
an irc=5:aut warfare BY canoring and lobb5!11
that Congress mad- al approp::ation 0: i=o
millions OF dollars to pay the 3eor.
If the State OF Virginia should PAP cf Iii:
debt she would occupe similar position 20 the
United States And she could oriog il heT
demands as substitute for the creditors. Bat
the Pudding bill, according to lj2a Staples DE-
cisiou, and be- Mr.. Barbour, agreed WIKI hlm,
saddsd the whole debt GO tue State. The
STATE is uoabe 10 pay it, and 81 course s0ue
readius,meut is demaodet b. which The Sal:
and creditors cso cone u some ajjustnso',
dscardiog the boDds ISSUED under the P!erplo;
government for rear interest. NOW, SAID DIR.
Barbour, for such an emargelcy l would pro
amount. Every sensible mao, ard certalolS
every creditor alive 10 the popular nerve you'd
nationally conclude that 3 per cs1t. b5rd; 60
dorsed b; lhe people aud ratified b. u: p2pu-
lar vote would be worth far more 10 the cc=di.
tor than per cent. boods: which The people
have decsiveIy made up their uLds can beVe:
be paid even under the pTesens oppressive
system of TAXATION. Bus, SAID M7. B., the
people are DOW earnestly calling for q reduction
of the taxes, and decla!iog 10 uomlstakabie
LANGUAGE that taxation hai reached even more
than the maZinum point; that they are COW
having more than double the amount paid by
their fathers 90 one half the property Their ia
theirs possessed; add that the present doanc al
distress demands bat taxation has n3W assumed
that threatening aspect to their peculiarly IL
terests, which Executive patronage bas for So
long to their political salvation as to cali fer the
same remedy, aud both mus! be diminished.
Mr. 3. said that the courts had decided that
the debt must be paid; bat that, said Mr.. E.,
don't pay it. Their orders ere Frequently re
tur1ed With uon est lnYeotu, 90 their face.
lie said the Legislature and not the courts are
the ievyiog power, and when the peop!e--be
paying power-say to the Legislature, thus Tar
thou shalt 20 and 20 farther, what can the
courts and bondhoders do?
Three alternatives are then presented Let
the debt remain as it exists, suha to future
liquidation at some more convenient aeason, II
, that season should ever come; REIMBURSEMENT
upon the plan | propose, or something similar
to it; or let the bondhodarS sci! out at reason
able compensation.
Mr.. B. thought if the latter plaa vas adopt
ed this reasonable compensation should CORES
pond to The payment Of the bondhoIders, and
they should be placed on an equitable basis
taking into consideration what the bonds sold
for-making an aggregate scale, and graduating
it according to what each creditor paid.
MIR. B. said that some spoke or The coupon
clause as sort of iuviolate aud sacred compact,
but that it was one of those things caught at 10
az emergency by shylocks to frigbten tlmid
souls; bu. large maj ority Of tax payers we're
too intelligent to BE- guled by any such buga'
boo. A plumber OF arrangements, be thought
could be effected to ward off this great wrong,
affe ting 80 much the vita! Interests OF the
people, any or all of which the State would be
justified in resorting after tenderug fair ad
Ijustment. He would men,ioa one that he
thought would do full justice to the bondholder
and tax payer. Issue for sale to each tax payer
q certificate of the Indebtedness for the amount
of his taxes, and sell it to him for Fifty cents 10
the dollar. You would thus put the man who
pays 10 money on equality with the mao who
pays in coupons, and thus, as | have said do
full justice to b,th parties. If the bondhoIder
is allowed to pay bis taxes at 50 or 60 cents in
The dollar, why should not the people have the
same privilege? Fix the price at which these
certificates are to be sold at the price at which
State bonds are sold. This will make taxation
eoual and uniform to the rich aud poor-to the