The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-12-12

government, would aid business by constitu-
ting circulating medium. They are the |
common mode that enlightened nations have
adopted of announcing their confidence in
themselves, thereby strengthening their cred
it abroad. Who ever hears of any objection |
urged against their being issued by the
United States and the English Governments |
and their operations being hampered there |
by? Be sure to make the revenues large |
enough, anG favor will soon attach to the |
coupons. and instead of their being odious, |
they will become the pledge that the Com
monwealth respects her faith as she values |
her life.
Some may seek objection to the funding of
the interest. No one denies that we owe |
the interest and am quite sure that no rea-
sonable man ought to object to that, when
those who receive the benefit OF it, in the |
same act give up one third Of their whole
accruing interest upon this entire debt.
Another, and the most important inquiry
is, will this settlement demand an increase
of taxation? Ianswer, it will. l answer
thus decidedly because / want now no half
way or unfinished settlement. Whatever
conclusion is reached, let it be final; so that
any future issue on this dread question will
never more lift its head to disturb the peace
and impede the growth and prosperity of
the Commonwealth.
The deficit under these recommendations
would be about as follows:
The amount of interest to be raised on
whole debt funded, principal and in
h 5eres am PER rom as tbex W
now stand to be applied to payment
of interest, as per report of Auditor. 972,262 AZ
&c., 1916 81
To which add interest on Literary fund, s434s Ga
10 In ,,rovidod k4h3 645 Ii
This deficit of S45 645I5 can be met by the State,
and not too seriously felt certainly not as to
cripple business and impair the progress in i'm
provement Of her industrial interests and enter.
prises The large reductions in expenditure OF
government made at your last session Will now
| begin to be felt the reduction in salaries and
| criminal expenses and biennial sessions OF your
| own body. The spirit of economy, as you will
see from the reports or the various institutions,
tell still further and considerably in the reduc-
| ton of expenses. An Improvement OF the MOI
felt Liquor Law that will make it effective: or;
il this cannot or will not be done, its repeal, and
the adoption OF system OF liquor tax that VIII
meet the objects aimed at by law; stamp taN;
which regard one that can both be easily pald
and easily collected tax on oysters. large and
valuable source of revenue now almost entirely
Idle and uuproductive and if these not accep-
ON real and personal property. AS You can read
lily for yourselves see, even if the whole fell upon
this last subject, it would and could be borne
without uncomfortable suffering. and the rise IN
values by the settlement of this debt trouble
most desirable that some law could be devised by
which there would be a fuller and more faithful
| be much of it never reached by the taX-gatherer;
| and thus lost to the revenues of the State. ana
would most respectfully urge a return to the
| old law with regard to the collection OF taxes
| The present has many objections Among the
most serious, is the postponement OF the time
| of their collection. II the people want pro
| lection to their lives and persons and proper
! ty, to have this protection they must be taxed
/ And the longer they are postponed the harder
| they To a rpf1actiur man. living under
a good government, there is no expenditure Tor
which he receives such full consideration as that
he pays in the shape Of taxes. l shall not enter
| into the details of any discussion OF these
recommendations, and how they can be made eff
lnvestlgatlom oil your proper commlttee; am
sure they Will consider them with the calmness
and importantly their grave Importance demands
My duty in this connection is discharged l.
now commit this subject of the State debt to the
action of the General Assembly; None more vital
ever came before this any other that has con-
vened in this capitol. Upon its settlement rests
the future of the Commonwealth. Our creditors
have come forward in generous spirit. and recog-
nizing our troubles have offered to help us bear
them they have aimed no blow at the life OF the
State, OR at what seems TO be so dear to her peo-
| dle-hcr Public Free School system but they
have rendered their aid that both may survive in
| the fulness of their strength and beauty. ! feel
| as though brighter day is dawning for our be-
| loved Commonwealth depression is to be fol-
| lowed by hope stagnation by the revival u busl-
velop our bouDdless resources and the New vir-
| ginia upon whose history we are entering to be
none the less honorable and glorious than the
/ Old.
l submit the reports of the various asylums and
institutions of learning and ask your careful con-
sideration of the suggestions of their superinten
dents and boards. Also reports of Superinten-
dents of Public Instruction, Treasurer and Sc
cond Auditor Fish Commissioner and Superin-
tendent OF Public Printing. to which / likewise
call your attention. Your special attention is re-
| quested to the status of the property where the
Central Lunatic Asylum is now located, the lease
of which expires on the 5lst of December, 1879,
and to the recommendations of the board.
The public tobacco warehouse under the ad
vice OF the Attorney General and gentlemen mem
bers of the Committee on Public Property In the
House of Delegates. has been conducted on State
account. / submit the report Of the inspectors
and invite your attention to its suggestions.
On the 9Th of March, 1873. an act was passed or.
dering the Governor. Attorney General and Sec
| rotary of the Commonwealth as commissioners.
to advertise. inviting sealed proposals for 1.-THE
lease of the pententiary. This was done through
the columns of the papers in the city of Rich
mond and other cities North, West and East No
proposals have been received coming within the
purview OF that act.
A very serious fire has occurred on the premi-
SEES of the penitentiary. by which the State has
according to the estimate of the Superintend-
ent and board, 600. This is the more serious
on account of the present condition OF our fnan-
ces. invite attention to the reports and sugges-
| tons of the superintendent and board as to this
fire.
The heavy pressure of other graver matters has
prevented my giving to the general penttentiary
system, and to the working OF our own and us
IMPROVEMENT; II possible, that attention an, and
thought which it so justly demands. have been
trying to gather information as to the operation
of different systems in the various States, but am
not sufficiently informed yet to make any well
digested recommendations to the General Assem-
bly,. The lease system has been tried in some
States. and has in its workings encountered diff
culties that have excited we'll grounded opposi-
ton. The employment OF the conyicts in the
convicts in manufacturing meets objection from
the young and growing manufactures OF the
State. And so with any system that can be adopt
ed. 1t affords pleasure to know that the amend
ed criminal code is having happy effect in re-
ducing the number of iconvictS, and it is hoped
will, in a short time, render them more managea-
BILE.
Under an act of General Assembly passed at
your last session, very large nunber-from 400
to 5O0have been and are still employed in restor-
ing the James River and Kanawha canal. Appli-
cations from other existing and projected i'm
provements now on file in my office for some
of these convicts but under the ruling OF the At
torney General the anal has priority OF claim on
their services. Negotiations are now going on
with regard to the property and franchises OF this
canal which will be brought in due time to the
attention ofthe General Assembly.
FRED. w. NJ. HOLIDAY.
Appendix A.
An act etc.
Whereas it is believed by the General Assem-
bly, that the rate of interest heretofore agreed to
be paid by the State on the public debt is greater
than can be borne without destroying the indus
trial interests OF the State; and whereas duly ap