The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-02-04

"a d;shonar the court, and thereby the Lee
gislature, by sending. it this case.
Rutssrpr,osc that court were TO reverse
itseif2 There Is the Supreme Court OF the
ITnitnd states to appeal to, and it's guid-
;ng nrineipleo OF that court tbat where prop
erfv riollta have been vested by decision
~ = State corrrr, anlt that decision is stbse-
nnently reversed by the Stnte court, 1t VIII
foIlow the first decision. The celebrated
cose a. woodruff against Trapnali was
auoted to show tl1at o State must STAND up
TO the contracts made by her Legislature:
AS to the difference between this case ana
Antoni,s Mr.. BoHASSoN quoted from the
oninion OF the court to show that the htter
case covered all the essential points pre-
sented here. Also, that Judge Bouidln haa
said il the revenues Of the State were IN
sufficient to execute the contract ana carry
on government and schools, the Legislature
must increase taxation, and that it was their
bounden duty to do so to protect the sta.es
pIiehted faith and constitutional oDllga-
tions. But Mr.. BoHANSoN held Win
the court that the first and foremost
duty OF the Legislature was to protect the
pliehted faith of the Commonwealth, ana
that that duty was even more sacred than
the maintenance of q gigantic system OF
public education which does not educate.
believing. therefore, that the decision IN
the Antoni case fully coveretal the points
presented in the bill under consideration,
MIR. BoHANNoNawould not vote Tor. the Dill
merely to give the court an opportunity TO
review its former decision. 1t Would De
like a man marching up the bill only TO
march down again.
But the gentleman from SHENANDOAH
/ lac hnn
too much poWer-haye been trammeliing
legislatures too much with the constitutional
proyision in relation to the violation OF the
obligations OF contracts. There Mr. BO-
HARMON took issue with Mr.. ALLEN, and
quoted from Chief-Justce Marshall to show
| the sanctity and true intent and purpose OF
that constitutional provision.
| Mr.. BoHANNoN reiterated that the pro-
nosed legislation against coupons was UNI
| fair and illegal, and that it was hatIy I'D inc
face of the courts decision. He commended
| that this effort at readi ustment would lead
| TO ruin. The gentleman from Shenandoah
had attempted to readjust the moral code OF
the universe, and the readjustment OF the
Jurisprudence of all civilized nations; ana
| the gentleman irom Sussex (5Ir. HARRIsoS)
this morning had attempted to readiust the
| Constitution OF the United States, and the
bill under consideration proposes to violate
the funding bill, which declares that SAL
taxes, debts, demands, and dues, due the
State, shall be paid in coupons, by pro-
yiding that only port shall be
| so received. He had learned once
that the whole OF thing included all
of it's parts, but it seems that he was moor
rectly taught, and that the gentlemen OF the
| other side propose to reddjust the aXloms
of the most exact OF all sciences. lie be-
lieved that the people OF Virginia would
consent to bear greater taxation than the
| existing rate when they were shown now
they have been deceived by the representa-
| lions on the question OF readjustment. lie
| thought that they would understand that it
Daus to pay ones debts. Outside OF the
great moral obligation to provide for the
debt. he believed that the people could be
made to understand that it would bet their
Decuniary benefit to provide for the debt.
Mr.. BoHANNON suggested the following
scheme for relieving the State from hcf
troubles:
Pass an act in which
|. State that Virginia can only afford to
pay 81, 200, 900 ut present on her debt, ana
pledges herself to raise that amount as long
rs necessary.
,. Issue $50, 100000 bonds at fifty years,
redeen,able after ten gears, with interest at
four cent. for ten years, five per cent. FOR
ten years, and six per cent. for thirty years.
3. Exchange these for present bonds, and
authorize a board to sell these four-per-
cents and buy in the others when it can be
done without cost to the State.
4. Issue non-intereSt bearing certlhcatcs
for overdue interest, receivable after i've
years in payment of onc-tenth OF all taxes.
Mr.. BOHANNON would not press this plan,
because it would be unavailing. He urged
that this matter be settled in a buslness-likc
manner and without partisan feeling, and
represented that he would never consent to
disown an obligation, as this bill pro-
posed: that the proposition OF the gen.
tleman from Shenandoah disowning the
interest and principal due northern
creditors was reputation to that eX-
tent; that the pulpit, which had been
subjected to criticism, was iustitiablc in
preaching Il little morality not only to the
women and children, but to the men OF this
day; that he recognized many of his oppo-
nents on this question as among the purest
and best men in the Commonwealth, but
believed they were wrong; and he begged
them to pause here, at decElyity beyond
which he could see only ruin and misery,
and to so act in reference 70 this debt
as to leave to their children a heritage OF
hope.
Mr.. POWELL offered Il substitute for the
bill under consideration proposing, SUBJ
stantialIv, to levy 4 tax OF only forty cents
OH the one hundred dollars.
Mr.. POWELL stated that he would say
what he had to say on this subject on Mon
day. rs he had understood that it had been
arranged that Mr.. HENRY was TO follow Mr..
BonANNoN in the debate.
Mr.. FAUSTLERoY demanded the pending
question, which was ordered. The substl-
tute was rejected.
Mr.. W. W. HENRY.
Mr.. w. w. HENRY, Of Richmond city,
said that it was but right that his constitu-
ents, SO largely a taX-paying and so unani-
mously debt-paying community, should
be heard upon this floor upon this impor-
tant proposition.
1t was, in his opinion, bald proposition
to repudiate q part of the public debt OF
Virginia. He did not desire to be offensive
to any gentleman on this floor, but could
not restrain himself from giving utter
ance to his honest convictions upon this
subject. The preamble is to the bill like
the veil Of the prophet Of Khorassan,
intended to hide its hideous dcformities.
It led off by declaring that increase OF
taxation is impracticabc; that is, impossi-
BILE. Right therein. HENRY took issue with
the Finance Committee and gentlemen OF
the other side. He showed from the GEN.
slls returns that there were twcnty-eight
States of this Union which paved greater
rate OF taxation per capita, and thirty that
sustained heavier burden on property