Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1877-09-18
From the Wytheville Dispatch.
The Public Debt.


Last monday our County CourI
day, was one of intense interest to
the public. Certain persons, by pre-,
arrangement. had invited Gen. VIM
Terry and II 9. Kent. Esq, through
the press to discuss the Public Debt.
At the adjournment Of the Court for
dinner, the County Superintendent
took the Chair, called the meeting
TO order, and announced that Gen,
Terry and Mr.. Kent would address
the people on the question of the
public debt Gen. james A. Walk
er then appeared, and being called
on made lengthy speech, in which
he advocated payment of the entire
debt, even by increase of taxes on
the people, rather than forcibly re-
adjust. He denounced 'Sforcible re-
adjustment MS larceny and reputation
as high>way robbery" and sought to
show that we could and ought to pay
all the debt both funded and unfun~
ded. lie had carefully prepared
statements to prove our ability to
pay all the debt and urged that we
onght to do so, even if it required
more than the present rate of taxation.
After Gen. Walker, Robert G
Kent Esqr arose and addressed the
meeting in same sentiment as the
line of argument adopted by Gen.
Walker. Mr.. Kent too wanted to
pay all the debt and thought we
could do so.
Then Gen. Terry arose and said all
tho ground had been covered by Gen.
Walker and Mr., Kent, he would try
to show that the debt was just and we
ought to pay it. lie deprecated
fOrclble readjustment, or any ad just
ment or settlement unless it was vol
untary and with full consent of the
bondhOIders. His speech was we'll
received by those who sympa thizcd
with the funding bill and payment OF
entire debt Gen. Terry's speech as
those Of both Gen. Walker and Mr..
Kent did not take well with the coun,
try peopIe'and generally with bust
ness mcn-and hence a general cry
was made FOR Captain frank s. Blair,
of Wythev.lle, who promptly took
the stand, aud for over two hours
held his audience attentiyely bent on
his words. Captain Blair said he did
not agree with the gentlemen who fa>
vored the funding bill and payment
of the entire State debt. lie was
against reputation, bat for readjust-
ing the public debt. lie showed that
the debt was made by Virginia and
West Virginia together, that by the
war, West Virginia had been cut off
and separated from Virginia, with
torty>eight of her counties, one>third
of her territory and one-third of her
population,' that the James River
and Kanawha Canal, the Chesapeake
aud Ohio Rail Road, with other rail
roads and numerous turnPikes now
were in West Virginia, that were
made by these very bonds, and that
West Virginia should pay her part of
the debt and not leave all for Vlr-
ginia as funding bill provided tha:
the bonds had been bought up by
speculs tors in the Northern States
at from ten to forty cents on the
dollar, and that the funding bill,
passed March 1871, was passed by
bribery and corruption as testified to
by Mr. Jenkins, before the House
Com mittee that money was used in
its passage, and thirty votes were
bought over in one night that By
that bill the Northern bondholders
we're preferred to all other creditors,
and the interest was added to these
debts and new bonds issued for prn-
eipal and interest; thus compromising
their interest but making no provi-
sion for the original bOndhoiders,
most of whom lived in Virginia, aud
many of them widows and orphans.
Captain Blair showed the people that
they were already taxed beyond their
ability to pay that many farmers
and mechanics could not now pay
their taxes, without a sacrifice of
their horses, cattle or grain. lie
showed that the cruel war had
brought. on our misfortunes, and the
Federal government had seized our
funds from State officers in Richmend,
and our property elsewhere. and had
deprived us of the ability to pay the
debt as now fraudulenty made up BY
funders of compound interest. and
our own aud West Virginia's por.
tions. He showed the remedy by
bill to rip up the funding bill for
fraud and corruption in its passage, ;.
by sending good able men to the
Legislature who will vote aud speak