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

DartiS CtOuQf HSatuciS NCStCAiS hiuus5 ot1k-
tionary temperature, and rising barometer.
THE WEATHER YESTERDAY was partly
cloudy and cool.
Thermometer YESTERDAY: 6 A. d., IS; (;
9 A. NJ, 4G; noon, Al; T. M., 4S; r.
NJ, As; midnight, 38.
Remarks OF Mr.. Griffin, OF Southamp-
ton, In the senate OF Virginia, An
Support OF Mr. Brookc,s Bill pro-
yisling for "a Settlement of the PGbs,
lie Debt. Delivered JanHary Sfst,
1875.
/ congratulate the people that we have at
last reached the discussion OF our public
debt, for it Is question that girdles the
State with all the suspenses OF hope de-
ferred, and strikes down with sort OF
financial paralysis its every Industry and
cnterprise-a question, sir, whose agitation,
rs we'll now as in the late campaign, seems
10 overshadow every energy OF the Com
monwealth, and makes her the victim Of
policy the pursuit OF which will eventually
lead .her into the slough Of Reputation,
bankruptcy, and ruin. And now that we
have launched upon the troubled tide Of
its discussion, we need at the belm the
strong hand OF wisdom and moderation,
with which to combat the rage and fury OF
the storm, though it confront us with all
the strength and force of the tempest; and
believing that the bill Of the Senator from
Fauquier (Afr. Brooke) has the strength to
temper the conflicting elements so as to
give to the proposition the tone OF modera-
ton, ], sir, in behalf OF suffering people,
give the measure my hearty and cordial
support do it because the bill carries to
skoh II ,I,a,,e sx,o
scope, q relief 10 the extent OF more than
one-half million OF dollars per annum.
From the report OF the Finance Committee
we learn that the entire public debt, eXclu-
sive OF what is due the literary and sinking
funds, and exclusive OF arrears of interest,
amounts to S29,35O,S26.3S, the interest on
which at four per cent. is 81, ,174 ,033.05.
Our revenue for 1877 from land, property,
income, capitation, license, railroad, bank,
insurance, and all other taxes, was $780,
92477; and after deducting cost Of collect
ing, delinquents, expenses OF government,
and cost OF free-schools, 81, 93,379.71, left
the net sum OF SS77, ,545.06 applicable to the
payment OF interest. ii to this we add:
Increase OF revenue under the Nof-
felt register. 325,OO0 u0
RCtrenchmcnt in aoministration OF
government Observation-Disclosures. 125.OUO 90
Revision OF criminal laws. ............. $4,000 90
the payment Of Interest. t............. S77,545 O6
l,377,545 0e
Amount OF interest on the debt at
four per cent. 1888 90
Balance In the Treasury. 2O3,5l2 Of
The accrued or past-due interest, amount
ing to So, 296, ,409.23, it is proposed by the
bill Under consideration shall be funded in
non-interest-b bearing certificates.
D,,r uir ha har m
Mr.. Paul. enters his solemn protest against
the measure because of the taX-receivabie
feature Of the coupons, and when speaking
Of the shackles which he says it forges for
Virginia he cries out against the iniquity as
though the shackles, If shackles they be,
which she wears to-day under the act Of
1871 are not just one third stronger, andin
the same ratio more potent to bind her into
impotency. The bare proposition harroWs
I'D his soul and makes his feelings stand
uDon end like the quills Of the fretful por-
cupine, forgetting that the theory which he
would curse. that the theory against which
he would hurl all the anathemas OF an indig-
nant heart. is really the only balm in Gill
ead-the only remedy which the hand Of
wisdom can apply to healt canker Of all Of
our troubles. He seems to have taken Il sort
OF Rip Van Wrinkle nap, whose dreams OF
the native sovereignty OF our State oblite-
rated the act OF 1871, which compromised
that sovereignty as to S20,000,000 Of her
debt. and which she cannot reclaim sGye-by
the consent OF her creditors, and now that
he has been aroused from his slumbcrs it
seems impossible for him to comprehend
that that act lifts its frowning crest far
above the genius OF this Legislature to con-
trolit he seems to forget that it has already
stood the test Of the ''iudicial crucible,"
and that it now stands fortified and
strengthened by the decision OF the high
est tribunal in the land, until it has become
Gibraltar like, against whose solid walls
even the thundcrs of Rockingham cannot
prevail.
But when he led Virginia through these
halls in her rags and tattercQ garments until
the sight Of her poor, pitiable plight wrought
upon the deep volcanic chambers OF his in-
dignation TO sead q stream OF rage and in
yectve against the unholy crew OF her
creditors that are preying upon her very
life, / was almost persuaded that she had q
right to pay nearly one hundred per cent.
more for the administration of her govern
had q right to gather up and wear her
robes Of purple and fine linen, and, il
need be, to sport her diamonds, that
they might sparkle amid the disappoint-
ment Of her creditors that she had
a right TO make the pageantry Of her gala
days as brilliant as those which marked the
triumph OF the Roman conqueror, though
her creditors received never cent OF their
lawful interest The said he would not vote
for the bill though it provided for settle
ment on a basis OF one per cent?, but when
my better Judgment returned i thought it
was not right, that it was not just, that il
was not honest, for Virginia to scatter with
an eXtravagant and prodigal hand her rev.
enues rather than attempt to husband the
same in order that she might pay something
to her creditors.
The Senator grows eloquent in his onset
against the surrender OF Virginia's sove
reignty in the control OF her revenue, and
when asked by the Senator from August;
(Mr Koiner) how he expected to reclaim
the sovereignty which she surrendered II
1871, he answered that the passage OF tht
Massey schoolbill was an assertion OF tha
sovereignty; when, in fact, rs to the pro
lection OF that particular fund, | regarded
that act only as recognition OF the soye
reignty OF our fundamental law, engraftet
there by the sovereign will OF the peopl
when they adopted a Constitution, befor'
the decision in the case OF Antoni Us
Wright, which stripped this Legislature
its sovereignty AS to its control OF that spe
cial fund. ! supported that measure DC
cause / wanted the children OF this Com
monwealth educated, TO keep them from
IL n In