The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-12-05
TIRGINIf'S STATE DEBT
a Dencit OF ss5O. 900 In ,he Reyeaue a ppli.
cable to the raS ment OF Interest.

RICHMOND, Va Dec, both Houses OF
tho General Assembly mot to-day at noon. In
the Senate resolution wns hdoptcd requesting
the Governor TO communicate 10 tho Sahato all
the Information no has in relation 10 the recont
nttlon OF Judge Hivors Of the United Sinles Dis.
trict Court for the Western District oi Virginia
in removing from the custody oi State on oihls
certain persons held TOR trial for murder and
in no wise purportng TO try the said IorsOns In
the said Federal Courts for such crimcs against
the State laws. which proceeding il oLsidcrod
an enforcement Of polico regulations and m
assumption Of tho control Of domestic
affairs Of tho State by Federal authority
The Govcrnor'r message WAS read in butl
20 discussion oi Tho STATE debt atp,s.
ucn. Thc Governor holds that II IL tho QuC--
ton Of uosliuns for Virginia. involving every
other. When that II scilled honornbly and
ilHally she viii stnrt upon q career that will hot
hounWorhy o. her history. lie edypcAtcs using
every honorable cfprt to harmonic yiewa. md
thus secure Il conclusion Whloh will oStl,lish
credit and pro- nrrity lie -nYS therc IL no man
or body Of mon connected with the stqie Gov.
crnmcut who IS 60crriiy or openly In lnypr1i re-
pudiHliun. No cK use Tor the mon -pqNmpnt Of
the debt over can h urged save inability. Ho
shows from tho Auditors statement that tho in
tcrrst on tho debt r. nearly ~ 100 no. which
after deductlng tho net TovoHuo uupii 'ablo 30
un pBmrnt thclr"l, l'hN'7 4 drI"N ol over
t11o 600 In says there arc only two wny- open
for honOrHlle a.ttcmcnt-thnt Ia 10y IN in
crrnso Of taxation. or fair and friendly
adjustment with CrNlitDrs. liquidation or
fofcihle rcndIustmcnt would bring rain but
Increased taxation. though II might cause -uf-
irring and pr.Ent'on for AT time. would ultimately
bring prosperity and pence. To paw tho large
den 1T would require no less than an increase
OF thirty 10 forty cents on the one hundred dol
hrs of property II the State of virginia Ia not
able TO pay the dobi or iull interest thereon and
ultimately the principal. she ought 10 havo ro-
course to tho other nIeaeurt, this side of force
mn honorable and nmicnblo adjustment with
her crrdiOrs In th0eXiOusive corrpspondrnoo
no had Ind with tho blaio's creditors. he had
not found them ShyOeks. but hrrl found them
willing to listen "a reason and consider ovcry
statement made them ia good faith Tho result
Ol this correspondence is n prupoSitiOn from n
council Of foroign bOndholders In London for
tho payment OF four per cent, in gold upon tho
whole debt. principal and interest funded qH-
empt from taxes with cOupons receivable for
gll tnKss. duOe. &C. Hle0 another propotition
from Barring Brothers 4 o.. August belmont
tho IOlhschihls of London and Paris. and
olhcrss reconmondlng, four peE cent. for tho
gold for all other chsses Of bonds. principal
and lnoro-t funded. SIS, Tho Governor says
that even such settlement viii demand nm in
crease Of taxation, He then suggests varioua
moles for increasing tho roVenuoe by tho better
enfoI comOnt Of existing laws,