The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-08-04
i IFor the Dispatch.I
pul,lfc Debt.

I, / give DelOWa cilppihB HUN IH0 Loe'o >.
Record OF date Of September 2, 1876, IL
being d letter from, q European gentleman IAN
who IL one OF the original creditors OF the
statc. I think it Is worthy OF space in,
YOUR valuable columns, especially as this IL
a question being greatly ngitated at tnls
time throughout the State. It $50 DE
deeply regretted that there should exist
class OF repudiationists in our. :stase'
7 stppose that nine tenths OF the Vo-
ting population OF the State would
he trlad & for any compromise or
adjustment, satisfactory to all par
ties. to be made but / am quite sure
tbot thc thinking class OF our people
would cschew reputation. The very name
carries with it an offensive sound, ana i. 1or
one, can see no! greater calamity lot VIZ
einia than the Reputation OF her pllShted
foi,h. Let our honor and integrity be MAN.
toined at allhazards! What though capital
and emigration await at the very threshold
OF our doors for the settlement OF TINS long
and much-veXed question to pour into our
borders, would that capital or half that emil
grafton come did we repudidte the debt !?
7 think not. Our credit would he lost, our
honor impaired. And what is 4 state
worth without these two great essen
tiaI clements. I do not propose here
10 suggest any remcdv-any plans for
an equitable and satisfactory adjustment OF
this great and aIl-mportant question-but
do say that Virginia cannot afford to repu-
diatc in anylshape or guise, and think the
horn-blowing OF the ultra partisans OF poll.
tical aspirantS at the present time will profit
them very little. Virginia, Messrs. Editors,
is not quite ready to be sold or farmed out
to political tricksters, and bunmers. who,
under various and sundly guiscs' and
figures. are trying hard to make it appear
that they have the good OF the State at heart,
and can easily adjust all the present diff
culties, and make the old Commonwealth
bloom and blossom az the rose, While in re-
atty it is but ahypecritical mantle intended
to deceive. The interest OF the State is
nearer and dearer to the people than any one
Individual, and I am greatly mistaken If
Virginia does not stamp under foot, for
once and forever, the purposes and aims OF
the blind partisans who are now following
in the wake of iniquitous men. b. .
THE PUBLIC DEBT OF vIRGIN1A-wHAT AN
ORIGINAL CREDITOR HAS TO SAY OF IT.
The following excellent letter comes from
a European gentleman who is one OF the
original creditors OF the State, having paid
before the war $500, 200 in gotdfor her bonds
at par. The father OF this gentleman in
vested this amount in Virginia securities
for his children, and bis will declares that
he did so believing '|that il anything was
sacred twas the honor Of Virginia" We
think he has a, right to speak. Read his
letter and pass it around: ......
q think you put the case quite truly
when you say that when communities, like
individuals, become insensibly demoralized
by evil examples around them, il becomes
lie ,,,&a Of
whether they repudiate or not. The Federal
Government will certainly never assume
the debt of Virginia or any other State. A
Virginian may feel-and not unnatural!y,
too-that his State has suffered greater in
Jury than any other in the war, and there
fore should be the subject Of greater con-
sidcraton now; but he must know per-
fectly we'll that no northern man couldfora
moment consistently admit the claim for the
assumption OF Virginia's or any other State
debt, for that would be to admit that he was
wrong in going to war, and, as a necessary
consequence, inficting all possible damage
upon his opponents in that war; and, know
ing the impossibilty Of recognition Of so UNI
reasonable claim, there was sbarm,' as
you say, in advancing it in u public docu-
ment, because 1t could not but appear to
foreign creditors as an attempt to shift I'M
fairly a burden which Virginia and her peo-
pie alone should bear. -..
81 know we cannot sue 4 sovereign State,
and it is poor conclusion when one is re-
duced to put the law in force even against n
man. II there is no conscience In an indl-
yidual or in State we must lose our money,
and he or the State must reap, as they
surely will, their own reward
~ suppose it Is in the Legislature OF Vir-
ginia, as it is in the more reprehensible and
notorious municipality of New York and in
Congress itself, that the best men will not
come to the political front. You will have
| to change all that in America soon.
81 quite agree with you that more taxa
ton of certain kind, and especially whis-
key tax, would be the natural and proper
way of meeting the deficit; and if the peo-
| pic are in earnest the next message OF the
Governor ought to point out. clearly the
way. .. i... ....:s
"Looking at your resources OF all kinds,
it must be certain to- all minds that, with or
binary industry and development, Virginia
must recover very quickly, or at least more
Quickly than IS supposed, all that has been
lost. and be richer and more prosperous
State than she has ever yet been. There
t,fore. the worst policy, it seems to me, that
f?Virvir,ia can adopt is q half-hearted course
I with regard to her debt People will not
| choose Tor emigration State which they
think will not preserve her faith" r.,-s.,
I'!i. General MahOno's Letter. =.
s..''"*t;'. MoSrGoMERYt COUNTY, YA..l
ran ii l. 1'I,b't'':lH; July 81, 1877, IS
Editors Of the Dispatch: ,,.,:; :, - = ..,;
| = TT.,,, ~ no ~ nr;cfic "a fho rlaim Of Ma