The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-01-30

,nns,sss ,s,arnspof4x,u acorrsetg tatemento OF sue
7defieieney by walking to this building.
HENnY warmly defended the Rich-:
mond chamber on Commerce, and declared
that Il was composed Of gentle men who, IL
thew ryara Fl error. were honest. But even
IF their exhibit was wrong it did not JUSTIFY
the General Assembly In issuing announcer
Mr.. HesgY referred to Mr.. M1ssET,s
statement Of the public debt put 1orth
during the last canvass, flooding the Yaiiey
PARTICULARLY, and doing almost rs mucii ae-
yastation there as the flood. BE stated tnas
holders OF nine millions OF the OLD Don !It
had refused to fund under the 1unding Dlll.
yet these gentlemen here were Calculating
the debt as il they had funded, anu nau
year after year been calculating lnteIes'
upon interest The result makes the prln-
cipal million more than it should De. ZOE
one, he was in favor OF repeating the luhu u.
Ing bill and taking away tue prlyliege "a
funding these bondholders had neslectea 10
avail themselves Of.
40 DELAY.
Mr.. PopnAM opposed delay, and argued
in favor Of giving the world full lnforma-
tion on this subject. For himself, ne de-
clared that no man was further from deslr-
ing repudiation than he. He wanted this
document TO correct rs far as possible tue
unjust statements Of the newspapers. he
referred to the necessity impeftlng the CITY
| of Alexandria to ask compromise Win us
creditors. and thought twas proper ana
commendable course under the circum-
stances, and one which The state OF VII
ginia could we'll follow.
EQUALIzE THE DEBT.
Mr.. MoFFETT claimed that there was no
occasion for excitement. He would say
that there was no variance in the two state
ments. The Second Auditor endorsed them
Yesterday and reendorsed them to-day.
/ MIR. MoFFETT contended that the report
was not partial, in so far as it essayed to
state the public debt. The report fully
covered that subject; it remained to them
(the committee) to report what amount OF
money the State had received in the pasl
twenty-five years from the sale OF mel
bonds.
Mr.. MoFFETT asserted that he was in favor
OF retrenchment; but he wanted hrst 70
eauaize the debt and cease the unjust, op'
pressiye, and Ubiquitous Discrimination
against our creditors, which is reproach tc
us. He did not propose to feed the coupon
and starve the peeler. He denied tnat DC
and those acting with him were repudiators
in purpose, direct or indirect. so far IRON
opposing retrenchment, they were IN 1aVo'
of it.. But they wanted first to remooel tn|
revenues. When they got possession o
them they would dedicate every cent posi-
AMONG all creditors. And yet they were
advertised az regulators. Even the re
Iirious gentlemen were having a tilt a
them. What they were fighting was no
the debt, but the ubiquitous funding Pill.
THE READJusTERs IN FAVOR OF THE FUNDING
BILL.
Mr.. CoGHIIL could not see that any pub
lie interest would suffer il the printing o.
this report be deferred until tomorrow
He had thought the report fair and prope
statement of the public debt, and held it wa
eminently right and proper that every FAC
in connection with the public debt snou!'
be known to all. But Mr.. HENRY rises II
his seat and calls attention to Il variance
There is, it is true, no discrepancy as 10 tn
actual fact, but there is as to the deduction
from that fact. There are men who clair
| that no interest should be paid during til
, war. Now, the adoption OF the repor
would be q committal to the allowance Q
war interest. Mr.. CoGHILL was not pre-
, pared to dispute the legality OF thai propo
: sition.
1t is the right view provided you propos
to carry out the funding bill. AS leg;
proposition he believed that would have t
be done unless there could be fair II
: adjustment or compromise on the basis c
l something like four per cent. what II
wanted the House to understand was thu
thew were, in his opinion, making that II
terest due principal. He contended tina
the nine millions were now capitalized ]
name but not in fact.
Mr.. CoGHILL further said he was, himself
: prepared to vote for the report right no"
!; but thought no harm could he done by
days delay so as to allow Mr.. HENRY
!, look into the matter.
Mr.. CoGHILL had that confidence in til
virtue, intelligence, and patriotism OF th
Virginia people that when the time cam
when they were convinced that comprc
mise couldn't be had they would willingl
: submit to the imposition OF taxes necessar
: to save their honor and credit.
The resolution was further discussed b.
Mcssrs. ANDERSON. FOWLER, and W. 7
: | tbay,