Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-01-19
Frauds and Failures.

GUS as to require an especial column tor their
record in some of the daily papers north OF the
Potomac; and indications are that Wno'e
sheets will soon be required to chronicle similar
events trauspiriug south of that river
That which we shall now particularly note Is
If character to cause amusement that any
honest community will even tolerate the bro
posal of such an outrage Oh common hooeSly
and public morals. ,,.oa
THE case we refer to as now being developed
is that Of formerly highly respected +. i. ",
the head of which some years since desired ~
improve her estate for the future beneht OF Ger
sons and their defendants. 10 acoompnsa tu's
she was compelled to borrow considerable sums
of money (psrt from members or her oWo mousse
hold) which was easily obtained az per cent
on her then untarnished name without otner
security. L..
The money was expended in making big
bitches, improved roads, aud other improve
ments. that would be for the benefit OF her
sons and their descendants. The interest was
promptly paid until interrupted by an uopleas-
antness with some Of her nelghbors, who AFRO
gated to themselves the superintendeoce OF her
domestic affairs, aud who eventually despolled
her of not only all of her working force, but one
third of her estate also.
After recovering somewhat from these dis
asters, and being still anxious to comply with
her pliphted faith, she evoked the assistance OF
some of her sons to devise measures that would
enable her to meet her obligations. They ad-
vised an spportioniug Of one.third OF the re-
sponsibility to the possessors OF tue property
that had been wrested from her, ADD to give
new bonds for the remainder. The holders OF
the original obligations promptly acqu!esed, and
supposed that tho 3D. ustment was 10 be per
manent, &c.
And so it went on until the extravagaut ex.
pendtures for support of her establishment lett
but little means to meet the obligations Of this
still respected f. 4. Y. When other sons were
c1lled in to advise as to what must or could DC
done to relive her from dlshonor. they belieV-
ing that the income from the estate could not
be increased, nor the expenses materially d.
mnshed, and being determined that every
child, white and black, on the estate. should be
cluded to advise another readjustmeot that
would force the holders Of the obligations bear
ing per cent interest to exchange them tor
others promising 9 per cent, provided enough
can be spared from more favored objects. Thus
creditors are to be compelled to take promises
for so cents 10 the dollar with 10 security that
this will be paid.
Surely the original obligations OF +. l.. '.
were quite as sacred as any that eau now be
advised by her sons, who say that they are ap
preheusive their people will grumbe at the
beraty displayed in the terms proposed
Such apprehensions Of the honesty Of those
who will hereafter have opportunities Tor re.
adjusting are not calculated to strengthen con.
6deuoe 10 the proposed new bonds.
TO thus forcibly compel surrender OF some
a.: II ;,o1 ,olnn MI riU in nh nUa
doubtful obligation for only half the amount.
seems to us to be but little short Of robbery.
A highwaymau will sometimes permit his
victim to retain part of his own property, and
bank robbers often return large part OF their
pluuder % hush money. What better do these
new advisers of b. +. V. propose? They ad-
wise to torcibly take from the bondhoders prop
erty that has been secured to them by law ADD
sacred premises and give 10 exchange as hush
money one half the nominal value 10 promises
discredited before being offered, and which will
scarcely be worth the paper issued on.
But it is said when these three per cent
bonds are sent out it will be with a deter
mination that they shall be paid as +. L.
v ought not to promise anything she cant
pay. Arc we to infer from this that it was
not designed to pay her former promises,
and that she Intentionally perpetrated fraud
upon her creditors when issuing those bonds for
two-tbirds of tEeir original claims, With an
order on another party fer the other third.
Some Difference, at least, was then paid to her
creditors, but now tho matter is to be settled
without any ntermedliug of theirs mo Coz
ference is wanted as L. L. VS. advisors
koow that tho heavy demand for "household
expenses and schooling will scarcely leave
enough to pay so cents ca the dollar to the
victims of misplaced confidence, who must be
grateful for the liberality that allows even that
much. We thus find advocates ia high po-
sitions for measures that arc but short step
from communism, which will surely and speedi'
ly follow the adoption Of any measure that de-
prives persons from their legal guaranteed
property. Be the abstraction 50 per cent or 10
per cent, the principle end example is the same
and will be as pernclous. When 1t Is tcuad
that persons holding prominent positions can,
with impunity, propose to tOrclbIy tSki away
one.half of the properly OF others. then will
soon follow cry Tor general dlVlslol OF
property. There are plenty Of domagogues
ready to ride into power and position on the
mule" that he will promlse-with 80 acres Of
laud-to every man that will vote for him.
How suicidal it is to even discuss such per-
niclous propositions. for surely no sane man
would think Of bringing means to buy property
and settle among people on tho brink OF
communism. What difference does the world
now witness on either side Of the Potomac?
Before Maryland's Legislature there is bill
now pending to erect monument in grateful
remembrance Of ex Gov. Pratt for bis propo.
sol and bold advocacy OF measures. when his
State was 10 default, with her bonds under 40,
which restored her to the honorable position
that is now the pride of her citizens. Mary.
land bonds are now worth ITO. or 10 per cent.
above par. Before Virgnas Legislature bill
is pending which already has deprecated her
bonds considerably, and if passed will cause
her sons to hang their beads in shame. Vir.
ginia bonds are worth 50, or near 50 per can't
below par.
While not to the manner born, We arc never.
theless as sensitive for the preservation Of an
untsrnishcd name for our adopted mother as
any of the sons Of Virg GINA. Nor are we
boated bondholder or Interested pecuniarily,
except as q holder Of property, on which We