The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-05-11

anu JusI pIOfOASiO Vi 'NN "
penses of the State government since any
part of said debt was contracted, and de-
Quoting therefrom the monies paid into
the treasury OF the Commonwealth from
the counties included within the said
new State during the same period"
The Convention which framed the first
Constitution Of our State adopted pro-
vision CART. VIII sec. s., declaring that
ian equitable proportion of the public
debt of the Commonwealth of Virginia
prior to tue first day of January, 1861,
shall be assumed by this State; and thai
the Legislature shall ascertain the same
as soon IS may be practicable, and pre-
vide for the liquidation thereof by a
sinking fund sufficient to pay the accru-
ing interest and redeem the principal
within thirty years"
Upon the terms thus prescribed by
Virgins, West Virginia was formed and
admitted into the Union.
The Legislature OF this State, IN order
to carry oIt the provisions of the Consti-
tuition, adopted Joint resolution, under
which the Governor appointed three
commissioners ito trest with the author
tiles Of Virginia on the subject Of pro.
posed adjustment OF the public debt OF
that State prior TO the frs. day OF Jsnu-
airy, 1861"
These Commissioners proceeded to
Richmond, and in pursuance of their
instructions proposed to treat with the
authorities OF Virginis, who declined
the negotiation. They then sought
from the Auditor of Virginia in
formation necessary to enable them
to ascertain the state of &C
counts between the two States, and were
informed by that official tina. "to answer
the question propounded would involve
an amount OF labor which he could
not bestow upon It," And this
wss the only response made by the
Auditor, Notwithstanding the Commis-
sioners had informed him that they were
wiling and ready to pay for the services
of an expert competent to examine the
records of his office and obtain for them
the desired information. The Commits
sioners returned, and since that time
the winter of lS7l-nothing has been
done by either State looking to settle
meut of the question of West Virginia s
liability Tor a portion Of the public debt
of Virgins. Thus it will be seen that
the charge so often made that West Vir-
ginia is unwilling to assume any part of
the debt OF Virginia Is manilestly unjust.
What more could she have done?
The act of the General Assembly of
Virginia, known as "The Funding Bill,
proposed to the creditors Of that State
/. e., those holding her bonds issued
prior TO January 1st 1s6l-that
they should surrender these bonds and
receive in lieu thereof for each bond, or
for the aggregate of these bonds, two OBJ
legations of Virginls-one, bond for
two-thirds OF the debt, the other q GER
tlfcste of Indebtedness for the other
third, to be paid whenever settlement
WAS had with West Virginia. This pre-
position assumed that West Virginia
would be liable for one-tbird of the ante
war debt of Virginia.
These certificates, however, are the
promises of Virginia to pay at certain
time West Virginia not participating in
or being party to this arrangement.
In response to this proposal many
bonds were surrendered and cancelled,
and new bonds and certificates received
therefor. If it were true that the
original bonds issued before the
creation of the new State bound
both States, it is also unquestionsbly
true that when the creditor surrendered
these bonds and accepted therefor the
Obligations of Virginia only he released
West Virgins from all liability to him.
1t is clear tina! no action can be main
tanned against West Virginia upon an
obligation of Virginia created since the
war.
1t has been claimed by some persons
Of prominence, VINO certainly have not
examined them, that these certificates are
statements of amounts due from West
Virginia and that they do not bind Vir-
ginia. The certificates on their face
show that they are promises of Virginia.
How then can it be said, as 1t has been
said, that Virginia is under no obligation
either legal or moral, that she is not
bound in law or honor, to pay any pOr-
ton of the amount for which these certif-
Gates were issued2
The only interest which Virginia
csu feel in having settlement
with this State is that she may redeem
her promises made TO her creditors. These
certificates would not have been received
il the creditors had known that IN little
while they would be told that they must
look 10 West Virginis for payment. 1t
is obviously hot the interest of Virgins
to have q settlement with West Virginia.
As soon as the settlement takes place,