Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-10-01

The Richmond State says: Last Wlntcr when
tic State oil Virginia, then as now 10 stra!ten.
ed tircun Stances, wsutcd to borrow $500. 900,
the Fire: National Bauk Gidn't eud ii, but the
Planters National aud tic Richmond Banking
aad Insurance Company cid. Now The State
authorities Raut to borrow $500. 900. aud the
First Nat!oral, the UoloD. the Planters Ma,
lisnal, and the Richmond Banking aud Irsur-
aaca Company, the State depositorlcs. all re-
iusp.
The Governor applied for that amount last
week, The representatives of the above named
banking institutions held Conference with His
EEcalie.cy ard discussed The matter fully
Two hundred thousand, to be returned on the
18Th of December, was all that was asked tor
tn. tie banks begged to be excused.
It was needed for the school fund.- and it is
generally regretted that tie loan conldn't be
Negotiated. The school fund is now $3.50, 600
short. mary Of the school teachers having re
caived nothing 10 the way OF salaries since
February. |. has not traL sclrcd what Will be
done about it.
The kichnond correspondent OF the New
York Herald says: Virginia is, owing to the
reputation sentiment 10 the Legislature, re-
ducsd to the most trying fnaDclal straits. The
public schools have just been reopened, but
there is rot dollar ia the State Treasury with
witch to carry them 90 or to pay slrearages
sud salaries Cue sioce last session. The teach,
ers are c!amo.ilg for theic pay, aud in some
places they have actually refused to begin the
lsboss Of the present session until they have
received tie amount due them for the last
1t is claimed that the taxes levied and COL
icetca for the support of the public schools
have been perverted to other uses, but prirci-
pslly to Gcirsyl0g expenses ofthe State govern.
msnt. The 'reaoiusters' at the las! session OF
the Legislature failed to make provision even for
meeting the ordinary expenses OF the State
government, aud hence the lack of funds to
carry en- the schools.
II this emergency Governor Holiday on Wed
nesday evening last had o conference with the
bank presidents here whose banks are State re-
poztoties. The conference was held the First
National Bank and the Governor Wa: accom-.
panied By the State Treasurer and the Auditor
OF Public Accounts. There were present four
bank presidents and the States officials named,
and the object was to efecta loan Of So. 600
for the purpose Of paying the expenses Of the
schools. No outsiders were admitted and the
conference wss not only conducted with the ut
most privacy, but those present were requested
to keep the proceedings strictly secret. Clover
nor Holiday set forth the extraord binary exigen-
cies of tie occasion and made an earnest appeal
to the bankers for the loan allowed named, pledg-
ing himself as the Executive to see that the
amount would be paid when the Legislature
meats. He WAS seconded by the other State
officials.
It has not tganspirod. owing to the pledge Of
secrecy, what answer the bankers gave but it is
ce!tained that no money has been advanced so
fsr. One report has it that the bank preildents
returned an eyssive answer, stating that they
would have 10 consult their respective directors
but the truth is presumed to ba that they we're
offered no proper security for the loan. The
bankers have had lively experience with the
eadjusierE," and they know too we'll that that
body favo1s the payment of nothing that as
sumes the name CT public debt, and that conse.
quently they would not risk lending this small
amount in the absence of better security than
the personal pledge Of the Governor.