Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1877-08-03
F. W. NJ. HOLIDAY.

MANCHESTER, July "a, 1876.
J. B. WEBB. u. D.,
EUGENE WEsr, ESQ,
Rockingham County, Virginia
Dear Sirs-Yours of the 23rd instant, jus, re-
ceived.
have never conceded my views 90 the
State Debt. Whenever called upon, they have
been given to gentlemen in different parts of
the Commonwealth.
to make them public. conceiving that it is an
issue in no way involved in this CANVASS be-
longing properly to the Legislature, not to the
Executive.
/ shall now, however, answer your inquiries,
and cannot do so better, than by quoting
from letter written as far back as 18th, Of
April, 1871, and before this issue was sprung,
to gentleman living in Augusta County.
GAS TO the Stale Debt, am opposed to re-
pudiation would not have such stigma
cast upon my State any more than would
1poL my private ZANE. But whilst am thus
opposed to repudiatiou. for the general reason,
l am in favor of some s:.eedy settlement of the
Debt, honorable 70 our State and satisfactory
to he creditors.
This is important and pressinsly so because
the debt is increasing bJ reason Of INTERCEPT, and
because believe, so soon ~ we indicate will
ly, our Bonds will at once 60 to par ANT Capital
and population flow into our borders and
never till then. Neither is coming TO Bank
rupt or dishonest Common wealth.
nd for the same general reason, of course,
do moi wish any more than anyone else, heav,
| tags; for they too pre-, the advent of capi-
.ai aad labor to our midst And whilst AN
MS he Constitution requires. iI favor Of uni,
form rate, am in iavOr Of seeking new sui j-cts
insle.d Of hsAping burdens upon the landed in
ter"s,, out of which. at least all our wealth and
prosperity must grow.
We all have hope that this will be done
The State has impr owed Misunderstanding her
many trials done wonders since the war: and
q bTgh, future is before US, if we are true 10
ourselves and TO her.
But the road TO prosperity is no: through the
door of Repudiation-that is the road to her
doom. And would not beckon her in that
direction for all the h,nor my Office she may
have, en- confer Indeed, what would the offic.
be worth when won? 1t would be 'har-
rem sceptre" if not disgracefnl prize"
SD wrote on the 18th April last have 80
written in different language frequently since:
ti"ns by recent events-ihat are casting the
deepest shadows that hs We ever yet fallen upon
our free Institutions And when We weigh The
honor and ability OF Virginia, and consider the
high reputation for integrity which she has al
ways borue through evil and good report in
adversely and prosperity, have great hope Of
set,emsnt, which will not impinYe upon that
fam. and be perfectly satisfactory to her cred-
tors
Whatever 10 done, ought TO BIZ done speedily.
This constant clAmor is unsettling business and
throwing impediments IN the way Of ths States
prosperity.
have not sought tho high office of Governor
With, at his sine, its tremendous responsible
ties My friends have doas me great honor By
thinking me worthy OF It.
But If the people Of Virginia are now re-
solved TO 60 back upon a renown hitherto uL-
furnished, by the repu diAtion of her plishted
faith, they must find some other than myself to
do their bidding.
Yours, very Respectfully,
FRED. W. N. HOLIDAY.
JNO. W. DANIEL.
Maj. Daniel is out in letter In which
he says, "1st. lam opposed to reputation
End. respect the decision of the courts;
3rd. l uphold the sancity of contracts"
and he holds that:
(1st.) The third of the debt assigned to
West Virginia, needs no adjustment.
(2nd.) The unfunded portion all agree
can, and should ne adjusted.
must concede, has been adjusted, and can
not be readjusted without the creditors
assent.
The mode of adjustment he thinks
should be left to the legislature, and adds;
Any onorable adjustment that does not
violate the Constitution. and our Oaths to
support it would have my hearty coopera-
tion, 1T is the part of financial wisdom to
seek it; and the business interests of the
State require speedy settlement of this
vexed issue.
But an effort to exercise arbitrary pow
er to attain result WHICH the Constitu-
lions of our State and country sOlemnly
and imperatively denounce, | need scarce
", say to an intelligent, high-minded and
law-abiding people would plunge the Com
monwealth into vortex of expensive, &C
1imonious, and litigious ife,-paralyze
business and inevitably ruin her reputa-
tion and credit, without. by any POSSIBLE |
ity, saving her dollar. To foment such |
strife would be in the last degree unpatri-
Otio