New-York tribune., 1877-08-08
THE VIRGINIA. DEMOCRATS.
A THREATENED DIVISION.


RICHMOND. Aug. 6.-Last November, when
m, returns from II the counties of Virginia had been
foutcd m, and 10 was seen that lild,ns m DorN "dS
over 10000 one of the thoughtful and far-sern4
pubc men of the state sad That bad for the Conserv
ative party" He right Az long a. the 'puoh
cans were able keep the negroes Interested ana race
was pposed to race tho Conservatives had probably inc
host notcal organization in the country But since the
anuhilation OF the Republican party Virginia the out
side resistance that kept the Conservatives together mas
ceased to exist. and. the graGd and glorious Victory VI
November WILL IN the opinion OF many oi the mos' ~
rousmndcd people in the state, prove 10 De the last 10
be recorded in the name of that old organization Inese
orebodngs it IS true, not bc fully realized Dut inc
aspect, Of the present novel and bite canvass gVc
every reason TO believe that formidable split Is ABOUT 20
take place.
II is the debt question now that divides the Consery'
atiye-. There is paying party" and "a readIu'thg
party" The demagogues have been az work ani taxing
advantage opportunity oe red by the hard times
and scarcity Of money persuaded MANY to believe
that If the public debt could be gotten rid Of or read
iused" there would follow a blessed season of low taxes
and general prosperity.
The present state tax 30 cents the 500 value OF
real and personal property The assessments nave Deem
nut down very low Oneenth OF the property tax goes
ana all the poll tax goes to the support OF the public
schools and there enough additional raised at this
rate by 900 per annum. to carry the Government
and pnv interest too The debt Is S2000O0OO In con-
sols with coupons receivable for taxes. The coupons
are sold 10 taxpayers and thus find tlsr into the
Treasury where they cancelled The supreme Court
of tie state has decided that the form OF the securities
cid by the consolhoders cannot be forcby altered
The consolholders ask no appropriation to pay their
interest. Nor can 1t be repudiated. They are
as secure as anyone holding a mortgage on
house, aud can get their interest, Ghe market
value OF their couponsD promptly Besides these
$4,000 900 consos there are 80 0000oO "perlerN-
bonds issued creditors who were 50 unfortunate ms not
10 he able 10 fund before the original funding bill was
repealed Three four millions OF int rest ' in arrears
All that it il possible TOR Virginia TO repudae is the
80 900 900 and accrued interest and no attempt of that
sort can be- successfully made the holders OF the peel
e" have the sympathy OF the people so far as 1t Is eN
tended to the bondhoder3 at all. General william MI
hone is rcqaydtd the reputation candidate There
are five other candidates. All Of the latter are opposed
To reuudation but in favor Of read1tment Of the
debt that the creditors NAV to- In the event of tne
creditors declining 10 agree any compromise or read
iustment they wOullhayC the expenses OF the state re-
duccd and SUBJECT of taxation sought 50 that the IN
torest may be met You will look IN VAN III G'u'
Mahones letter for word about reputation IL Isn't
There The worst says Is tnat he will demand re-
adjustment Translated in the cities that means hon
orabc rcadustmcnt which the assent OF the creditors
shall be obtained Translated in the country districts, 1t
means the boudaOders must take what we can 0ner or
nothing" Itisa charming letter for the purpose, and
has gathered to the support OF Malone an immense
number Of people, he and comes to the convention o.
August stronger than other candidate. Gen.
Malone is a railroad eugineerby profession During
the war he was in the Confederate Army, and from
colonel rose he maiorgeneral He was the ConfHder-
ate hero Of the Battle of the Crater" After he war he
consolidated the railroads from Bristol to Norfolk (oyer
100 niles into company, the Atlantic, Mississippi
Ohio and became its President at $4,000 per 8nnum
About two years ago the railroad went into the hands
md Como thrown Z.
General is a very little man physically. He weighs
about 100 pounds, suppose and is short and bony He
wears a peaked beard and covers his head with
b felt hat cooked on one side He is man Of rare or
ganizng powers aud exces in exercising authority over
his felow-creatures As a soldier be was regarded as
GOOD discplinaran and dashing fighter As railroad
president he organized the best railroad line in Virginia.
and i'm tho numerous railroad in the Legislature
against Tom Scott he generally came ont victorious. II
is charged against Malone that he kept lobby In the
Capital oi Virginia all the time; that he bought up Leg
isators subsidized newspapers chose all the state o-
GERS packed state Conventions, and generally exercised
dcspotc supervision over all that went on in Virginia.
How far these charges seems impossible t.
certain in the present dsoTdcrcd and prcudiced cond
ton of the public mind. Certain tits tha Little BLY,
o1ies who throughout this preliminary canvass have
aged upon him a bitter aud mcrcilcss fight They have
pdi @ or have m ' Combined al the other cam
did,tes against HIM, and have attempted in every
without effect HIS debt letter, his organization
his Old soldiers and the exccsa OF Ieal OF ms
votes IN Convention and he has very good chance OF
increasing tbs number IL lanierto ana fn A zee are aie
gates he to start with II Malone has MS enemies he
has his friends too The hercer the attacks made upon
hnn the closer hs friends gather his protection. They
have brayey every assault from the beginning and
have ON several notable occasions made saliies aud
nnicted upon the adversaries serious punishment Tue
Conservative party, once "a Dand on Dlothtrs, Is
now divided into Malone men aud antl-Malour men,,
| a has bitterness
such the character Of the warfare, that II Malone
| shoud he nominated there many who cannot
nnss,IIv support him on the other hand, should
he bc not nominated there is certain To be in the field
be in favor coercing the bondholders into reaust
ment or in the beginning the Convention may split on
platform Should all the " al tui 3grs OF me peace be
put down and man like Gen W. H. +. Lee (son OF
r. f. Lee) be nominated, there would stu be an mde-
pendent readjustment candidate but he would enter the
contest under disadvantages OF very formidable char
actcr.
The other candidates are numerous. Major j. ".
Daniel comes the Convention with almost as many
delegates Malone He Is only about 30 years OF az,
was crippled In the army and has good clean record,
INT has been defeated for the nomination for the L.
House OF Representatives and also for tine L. > Senate,
aud therefore carry into TINS contest the conf
dence that belongs to usually victorious leader Gen.
Fz Lee cousin Of W. II. f. Lee, aud nephew OF Gen
r. r. Lee. lie was old L. :. Army officer, served
with distinction III the Confederate cavalry. made a
prasewOrthy speech az the Bunker Hill celebration,
and is popular aud genial gentleman He Is now a
farmer ana miller in Stafford County. Gen. W b. Taa-
ferro Is a veteran of the Mexican and the late war In
! 1863 he in command at Charleston, : C., when
there was pretty heavy dghting there lie is farmer
LAWYER, n man of good hard sense, and thorough old
time Virginiau IN his speech and manners. Col.
f. W. NJ Holiday OF Winchester IA II onearmed eXCon-
federate. lie is lawyer with good practice, and has
never devoted himself very much to pf Titles. Cen VIM.
Terry like all the others. is an eNConfederate aud was
member Of the last Congress. Gen. James walker who
is spoken OF for Governor succeeded Jackson
| upOn the latters promotion tO the command or the
sionewall Brigade II IL possible 10 combine the
delegates Of Daniel, fz Lee, Holiday, Taliaerro and
Terry against Mahone OF the overthrow OF Malone
Convention would b. assured. But that debt let
ter will prevent IL l. feared that, for instance, many
who would support fz Lee for personal reasons Will 90
| 10 Malone finally the debt question. II, however,
uriae cnupaes preynil. DatfOrm will be adOptel tlaI