Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-12-09
a Crisis III. the Honor ola State.

By disragardiug the plainsst disates OF hon
esty and salfnteres. Virginia is fast sinking to
degradation. is skeenlyfelt by every hon.
orable man 10 that State. She is unable to bor'
row from any sourcs the money needed to keep
open her public schools. Nobody outside Of
Virginia would lend her q dollar, and the
home banks which are the State repositories
have refused assistance. For State having
tho past glorious record Of tho Old Dominion
aud her present resources this is indeed pltlable.
The closing or hainpcriug OF her pubic schools
NAV not be an irromcdiabie iijury, for children
can ba taught after fashion at home or at the
private expense of parents. The disgrace con
sists in the inability ofa great Commonwealth
to raise money for that or any other purpose
considered essential 10 her progress and welfare.
Virgins is 10 this sad plight, not because she Is
poor (the SUCCESS of the bell punch proved. her
capacity for tsxalion), but because she is
shirtIsss and elusive debtor Fully able to pay
her debts if she would make the sacrlhca that
honor ard good policy require of her she
lodges and postpones her obligations. Her ar
rears Of Interest already amount to ever
$4,000, 000 and every year makes the repuai'
ators who have controlled her affairs less no.
cIined to settle up or conclude any terms Will
the wronged bcndhcldeIs, These men profess
all the while that they are not repudiators;-
They call themselves ''reaGj The
Damo matters act; the world can only see that
Virginia, under one prenteuse and another,
keeps her creditors out ef their money. 10
them she is repudistcr and nothing else.
If Virginia is not willing TO rest under this m
putation, she now has an opportunity to throw
# of. The real purpose of the majority OF her
sons will soon bs put to the test. Ihe CHIEF
holders Of her bonds have made an extremely
liberal proposition. They will accept reduc'
tio1 of interest to per cent. gold on the consos
| principal and interest funded, and 8! per cent
gold on sll othor classes Of bonds the same TO DO
exempt from taxation snd the vouchers recelVa'
| BILE for taxes and dues. No honest readJuster
could ask more than this; and if resdjustment
| is not, as we believe it 10 be- a convertible term
for st reputation, the cffsr or something equal
| ly satisfactory to the bondholders, will be
promptly accepted. Gov. Holiday honors his exc
cutiYe Office by advising fair and friendly settle
ment with ths creditors. He depicts very clear
ly the ruin to public and private interests in the
| State which would follow reputation or forclole
1esdjustmsnt. The increased taxation needed
| to psy up would be hard to bear. but would
| bring at last prosperity and peace. Inc GOV
ernor in his views only reflects those OF great
| numbers Of highly respectable Vlrglnisna OF 81
the professions and wslks of life who hsve late
| lv signed an address 10 the ssme effect. 1t Is
now ought-gnd Te hope not without reason
| that the majority of Virgirisns will come. TO
better mind that they VII! SEQ the path othonor
and duty and self.intorest and walk stralgnI
| in il out Of the dark aud devious ways III when
| they have been losing themselves and covering
their mother State with obloquy so long-N. 7.
! Journal Of Commerce.