The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-03-05

How Nor TO Do IT.-Now that the Legis-
lature has reached the last day OF its regular
session, and has exhausted ninety Gays III
nseless wraugling over the debt question,
the moderate members Of the two opposing
factions have agreed to have o peace CONFER
ence to see IL some compromise OF Tue ques-
ton cannot be reached that VIII pc accepts
bic to both sides and result IN adjustment.
This is precisely what the two parties
should have done when the Legislature nrst
assembled in December, aud we shouid nave
avoided all the contention which we have
had. and all the humiliation which our pre-
sent unsettled and complicated condltlon
of1Iicts upon us. But, instead OF acting upon
this plain, common-sense plan OF business
and duty, our party split at once into OPP
posing factions, resolved themselves INTO
separate caucuses Of f,tnders and readJust.
ers, opened bitter war upon each other, ana
as a natural result ali schemes have faiien
through, and no legislation that Is worth
one cent to the State has been accomplished,
and the government itself is at dead lock!
This is certainly most deplorable sltua-
ton for proud and time-honored old state
to occupy; but even now, in the ten extra
DAYS remaining Of the session, good emu
NAV vet be reached If wise counSels among
members can be made to prevail ana prompt
action be taken. Without this all will be
left in chaos.-Petersburg Post.
Exactly! tits indeed ga deplorable posi-
ton for proud and time-honored State TO
occupy" People Of Virginia, shall she oc-
cupy it? Representatives OF Virginia, shall
she occupy it? With all kindness and re-
spect, gentlemen, what have you done! has
any man amongst you proposed that the
principal of the public debt OF Virginia
shall be sealed by the dictum of the State,
regardless OF the wishes or rights OF the
public creditor? Not one. In what has
been the difference amongst the representa-
tives OF the people?
A difference has been as to whether the
State shall endeavor to coerce the bond
holder to accept such terms as she shall die
tate, or whether the proposition for settle
ment shall be left optional with the public
creditor to accept it or not. This has been
on the surface an issue. Until within
year or two past it had been impossible to
find any body OF men respectable for its
numbers who would proclaim that Virginia
should seize upon the property OF the pub
lie creditor and appropriate it to her own
uses without his consent. But times are
strange, and under the madness Of the
hour this great wrong has formed strong
body in her Legislature, claiming to repre-
sent the people who are ready to perpetuate
this outrage-this outrage which can find
no approval in any well-balanced, civilized
community.
But the measures proposed by those who
claimed that Virginia, the debtor, should
thus arbitrarily treat her creditors, in no
case suggested that she should deny the
amount of the principal Of her indebted
ness. With all the promises made to the
people to get their votes it was not posi-
lively promised by the "forcibles" that
they would relieve the people OF Virginia
OF part Of the principal Of their obliga-
tions. Stick pin there, people OF Vir-
ginia! With all the high-handed morality
towards the public creditor there has been
no proposition to diminish the principal OF
his claim. It is well for Virginia that, how
ever bold have been those who sought to
commit her to great wrong, they have not
dared this much.
Then the long debate, the passionate
wrangles Of the winter, have been confined
to the amount of interest proposed to be
paid, and the manner in which the taxes
should be collected, and the discriminating
rules that should prevail in the payment OF
taxes. These rules were framed by the ma
iority 80 as to exclude in a great degree the
coupons which under the funding act were
made receivable in taxes from the treasury.
The difference amongst members as to the
amount of interest was not so great. The
majority propose three per cent, whilst we
may believe that four per cent, optional
with the creditor, would have met the views
Of the great body Of the Legislature. But
in proposing three per cent. the "forci-
bles " indicated by their measure that they
desired to pay four by adding cent to the
accrued interest at future day not far of, |
making it permanently four.
This looked like agreement as to amount
of interest, and the real disagreement that
remained was as to the receivability OF the
coupons. The intelligent world will be
amazed that such difference Of opinion
should so long detain the Legislature OF
Virginia in the mists and perplexities OF
disagreement.
The proposed discrimination in the COL
lection Of taxes-~so much in money and so
much in receivable coupons-raised in the
Legislature the issue as to the right OF the
State to refuse what by solemn enactment
she had agreed to take in payment Of taxes,
and what the Virginia Court OF Appeals
had declared she must receive. 1t was the
fact that this measure would compel Vir
ginia to deny her own agreement and entail
tedious litigation by raising the question as
to her power to do this in the courts which
provoked opposition in the Legislature and
brought down the veto OF the Governor
upon it. The measure was engendered by
hostility to the funding act, with its receiy-
ability clause, and but for this 1t might have
undergone the harmonious conside OF
the Legislature, and taken st,ch form as
might have made it acceptable to State and
people.
SO, after all, the great quarrel in the Lee
gtslatnre he's turned upon the "War upon
the funding act, 2 which has been declared
constitutional by the highest court In the
State. And that war obstruets legislation,
inyokes the veto Of the Governor, threatens
the State with tedious and annoying litiga-
ton, with public and private diseredit,