Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1878-02-19


of the State itself. that the tax payer.
= might be turned over 10 them for ;
third OF century. that they lie allow
Ell to step permanently between The
State and the treasury, and there claC
! in the cold mail OF imperial power. /,
swear that Virginia should pay or die
Your money or your life Gail you
that not forcIbie adjustment
Is the sovereignty of this State ir.
retrevahly postponed beyond the long
pr0-ps ctive % lhis debt?
Now sir: | have no word OF de-
nunciatiOn fur our bond holders a.
such Like the gentIe:.en fl0m
Shenandoah. do not allu,le to them
ss boated bond holders They loaned
Us their money at time, when
though we we're rich We need Il it
bat do complain of them for their
seduction Of eur Legislators Into new
contract, which th$ people had neiih-
| er suspected, ncr even would have
consented 10. l "a charge that they
thus forriily adjusted the public deot
without the moral consent of Virginia
as one Of the original nigh contracting
! parties. | DO sssert here in the forum
| OF this Common wtaIth. that there
| them and the people Of Virginia.
! when this debt was made, that only
I a part of it should rest upon ihe lands
OF this State. They did know, and
| did morally assem- to the fact, that
| one end of this heavy obligation resi-
| ed on the lands, and the other end on
the slave property. They dii know.
| and do now know, that "A proposition
t1 rGsf hA fnl s-4i. .,h ~ at,
| on the landed property wuuld never
have been consented to hy Virginia -
leave out of consideration other per
sonal property. That portion OF the
basis was small. and was swept away
by the var Here Sir: You have
the illustration. as | hold this book
resting on my two hands. the one rep
reSentiug the real estate support, aud
the other the slave property support.
They knew thi-, aud they took their
risk. The war passed. BY an e1ict
Of the co1queror. the slave euppOrt
VAS taken from beneath one end OF
thts debt. They well knew there WAS
danger, that their debt with One-haif
Its support removed. would DO AS this
book does when it falls. III this emer-
seucy b came here iniO the iUbhy
p
unIuzpccting or Uureflec ing agency
To double the unsupported end Of that
dei;i hack upon the iGmd, 90 that the
real e4tate basis should carry hoth
ends of it. l 10 charge lllia ~ such
violation Of good laitii, ~ should de-
prive them OF some OF the sympathy
of the world whsn they coma now
and claim that the cold mill stone OF
Il -
To fall upon Us, and grind us 10 pow |
der.
| believe it was AL ilustrious an
ces;ur OF my fIond from Ricaupnd |
DIR Henry who said Il have no |
light by which 10 guide my feet. but
the lamp of experience " By this
lamp | ask uat gentlemen to 90 |
back With me TO 1870 and again |
walk down this cveDtiul and mourn |
full decade.
First sir, we shall egcounter the
father Of this Funding Bill, which
ike the hcrse OF Troy. he 70 led Into
that Legislature khere it vas by
taHjperiBg hands, diAembowc!ed OF
the SerpeuiS, thar have crawied aud
Kissed across our pat5&ay. and our
Ia, eShhnlds. until We are about 10 be
driven from this geldcn Of our ia-
theirs.
What did Gov ". ker say was the
basi, for that adjustment of 1871?
}Ir speaker, | should ike To read you
iFcH his own message hich have
here at hand. bus my time is growing
short aud shall refrain, oaig NAM
ing the igu. es. (Cries Of read it
let us have it ali,
Very good sir: | read from his
messag, OF December I, 1870, and I |
ask the House to mark particularly |
the language:
eff this estimate he correct the
sum t0ta! Of the real and personal
at the present time is $723-
lI5, $50. upon which we may predi>
cate our calculations OF the rate of
taxation necessary to be imposed to
realize a sum satficient to meet oar
annual liabilities The rate of taxa
tiOn on real estate, established by the
General Assembly Of l8C6-67. and
which has been continued ever since,
was forty cents on the one hundred
dollars of value. The same rate Of
taxation upon the basis above men,
toned, would produce the sum of
g.. 1872 462.35. Ada to this the in,
terest, upon the interest paying secu-
rites held by the State, say SLIDE
IS, and the tax upon oysters, licences
and incomes, say $500 600, and tie
amoInt will be $3,36l25j.53, or
more than the sum total. Of our an
nual liabilities.
$723 millions There then is the
magma charla for your Funding Bill! /!
Did he not declare that 40 cents as 4
rate OF taxation on this basis, would
be sufficient, when added to the
Iicence of 100 thousand dollars. to
bring us over three and third mil
lions, or more than He wanted.
The Funding BIZ, thus painted
like silver Venus on her blue pro-
In the evening sky, was cons
vulsively claspcd to our embrace as
the FIRST born of our new marriage
with the Federal Union.
The curtain falls. Eight long years
pass and the curtain rises. Before
us stands the auditor with this report
l hold in my hand. Beside him on
the blackboard Of 1870, are the fg>
ures Of Gov. Walker. The Auditor
steps forward and writes beneath