The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-10-17
Gen. Echols and the State Debt.

Gen. Echols and the State Debt
There is one supreme issue in this Con-
gressional contest, and that is the national
finance. 1t is practical question, bearing
directly upon the canvass and coming home
to the business affairs Of the people, in con-
nection with the policy shat may be main
tanned and the votes cast by the representa-
tive OF this district in Congress. 1t is the
only Apostle, practical question legitimate
ly to be considered, and is of paramount
Importance. There is great danger that the
opponents of safe, reliable currency, based
upon gold and silver, may have thirds
vote in the House of Representatives. Party
lines do not designate the strength of the
Two financial policies. There are Republi-
cans who favor the greenback theory and
Democrats who oppose it !; and it cannot be
ascertained what the real strength Of either
is until the issue is fairly joined upon de-
fined proposition. One vote may deter
mine it, and one vote may do vast and ire
parable injury to the business of the coun-
try.
So believing, and thinking with Gen. Ech-
OILS in the views he maintains upon this vi
tai issue, we support him. 1t is for this rea-
son, and this reason alone that we do so, re-
garding as subordinate any difference with
him upon the State debt question. In this
contest that is mere sentiment, without
practical significance. That We differ with
him, to some degree, and in one or two ma
terial points, our readers well know. That
difference can be presented and discussed
hereafter, when the Legislature of Virginia
convenes to act. 1t is there that it has to
be determined. We agree with him that
compromise can be effected, honorable to the
state and acceptable to the creditors and
working mutual advantage, if dispassion-
ate, non-factious, non-partizan effort is
made to that end. The debt question must
be settled or Virginia is ruined. We have
suffered, and are now suffering more from
the disgraceful exhibit we are compelled to
make in every communication from the Au-
ditor than any possible burden of taxes
that would be imposed. The creditor is
suffering to an almost equal degree, for his
securities are deprecated, his interests in
jeopardy, and doubt and distrust pervading
all his relations to the State. The tax
payer and the creditor are both deeply con-
cerned in some honorable adjustment, and
this can be brought about if approached in
the proper spirit.
The shameful diversion of the public
school fund, and the paralysis of the entire
public school system, is entailing untold
wrong upon the rising generation of Vir-
ginia, and ignominy upon the State. 1t is
conceded that these wrongs can be righted-
these injuries to creditor and debtor re-
paired, if the representatives of the people
will only rise above the spirit Of faction and
seltishness, and address themselves to this
jealous Of their State S honor and earnestly
solicitous for her future welfare.
Gen Echols has been greatly misrepre-
sented in his relations to this question. He
has always favored an honorable adjustment
but never forced re adjustment. The
farmers of Augusta. in the Inauguration
of the discussion, demanded no more and
as indignantly repudiated forcible read
| justment as does Gen. Echols. When the inn
putation was cast upon them that they
meant forclble adjustment or partial re-
pudiation, they met it with an indignant de-
NAL, and plead the equities of the case to
justify their demands for a REIMBURSEMENT.
Gen. Echols agreed with them then, and
agrees with them now in this. 1t is only
where all efforts have been exhausted to eff
feet an honorable adjustment, and the al
tentative is presented of increasing the
taxes or repudiating the debt, that he favors
the former. He does not believe that either
extremity is necessary, but should such a
condition of things arise, rather than dis
honor Virginia and strike a blow at the
very pillars Of our free institutions by dis
regarding the mandate of our highest ju.
dicial tribunal, he would favor, however
much he should regret to do so, an increase
of the taxes to Illustrate such direful re-
suits.
This much is due Gen. Echols in connec.
ton with this matter, and it is proper that
we should state it in this way, in view of the
relations of this paper to the question of the
State debt and the preceding discussions Of
the question.