Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1878-02-01
RICHMOND.

THE RE-APPORTIONMENT OF REPREsEN-
TATIyEs AND sENATORs-CANDIDAT
FOR THE REMAINING STATE OFFICES
OFFICIAL REPORT OF THE DOUBLE
FUNDING THEFT IN THE TREASURY
HOUSE FINANCE COMMITTEES REPORT
OF THE EXACT AMOUNT OF The STATE
DEBT-SKErCH OF THE WEEKS PRO
CEEDINGs IN THE LEGISLATURE,
&C., &C, &C.
The Joint Committee on re-appOrtiOn-
ment has made lis report. Ii gives Au-
gusta and Staunton cmbined one senal or
and two delegates; Page ana Shenandoah
have a delegate each but only one senator
between them; Rocki. CHAM Las two dele>
gates and one Senat r.; Ro. kbriugc las l,et
delegates and divides ner senator wi
Botetourt, Allegheny, Bath, aud Higilan. :.
Highland gets one delegate. The ielsr
mas already been much objected ,oin ma.
quarters, and will he mucn moeitie bel
heing adopted. Senator Z. l. SIN til
Nelson, announces himself IA can inate f
State Treasurer, on the grou.4d that NJ
Hunter the incumbent is physically dis
abed from performing its duties. Mr. J.,
| NJ. McMullin, the delegate from Green,
candidate for Auditor Rogers place
The Committee of Invest Cation have Of
ticially reported that $50, 900 in bonds wer,
stolen. They say the guilt Of two persons,
not now connected with the capitol Offices
IS established, and they recommend com
mencing suit on Ex-Treasurer Mayo's Of
ticial bond. We condense the following
news of the week from the Richmond
papers:
THE PUBLIC DEBT.
Mr.. W. 7. Taliaferro, Chairman of the
sub committee of the Finance Com mittee
of the House made his report on Monday
as to the exact amount of the State debt.
He reported the debt West Virginia's
portion off to be, principal and accrued
interest, should this interest be capitalized,
Sal ,220, 1926, the total annual interest up
on which aggregates $2,45S, 716.41. The
total net revenue for the year 1877, on a
basis of 50 cents ON the 500, was So, 49,
214.62; current expenses of government
669.1S, leaving net revenue applicable to
the payment Of interest $685., 545.56, show
ing on the present basis of taxation there
would tie deficiency of 81 .571 ,170 95 in the
payment OF interest on the State debt and
capitalized interest. The report is endors-
House Monday Mr.. Henry took exceptions
to the report. He said the holders of nine
| millions of the old bonds refused to fund
but this report was calculating the debt
as if they had funded, and was giving them
interest upon interest, making the princi-
pla of the debt a million more and the in
terest account $50 900 per annum more.
He opposed printing and circulating the
eport because Of this incorrectness. Spea-
ker Allen, Mr.. Moffett and others on their
side of the question contended that there
was no error in the calculation and urged
its being printed to the extent of 5000
copies. Mr.. Popham called attention to
The fact that the Readjustels were now
| defending, what they had heretofore de
nounced the funding bill for-pay ing in
| Coghill thought it best not to print the re-
port until the claim of inaccuracy had been
examined. The House resolved to print
the report as 1t stood.
| In both houses on Wednesday resolu-
tions were offered by sAdjusters to raise the
rate Of taxation to pay the interest, the
resolutions being intended to lie voted
down of course. In the Senate the reso
| luton was withdrawn, and in the House il
| was discussed at some length. In the de-
| bate Mr.. Hanger said if no other way was
presented of managing the debt he should
vote for the resolution and Mr.. Henry said
he should vote for it if amended so as to
raise other taxes besides that on real and
personal property. The debate was ended
| by the Railroad commissioner bill being
| discussed.
| A report adverse to additional legisla
| tion to keep the public roads in order was
| adopted. Mr.. Massey introduced a bill
declaring the University of Virginia q
'sboarding house" within the meaning OF
the act. A petition of Holmes Conrad, R
I. Barton and others, asking that the 18Th
and 18th judicial circuits be reunited, was
referred. Mr.. Brooke's bill to pay t {
public debt was discussed, as was Mr.
| Koiuer's substitute for it. Mr.. Koiner's
| bill proposes to make the debt run 4U years
the first ten, at 8 per cent, the second
ten, at 4, the third ten, at 5. and the fourth
| at per cent.-and to allow all consols and
| peelers to fund on these terms. 1t retains
the tax-paying feature of the coupons
aud pledges the faith OF the Commonwealth
| 10 the full performance of the obligations
| of the bill Mr.. K liner advocated this bill
| in long and careful argument. 1t was
opposed by MIR. Paul, of Rockingham, in 9
speech in which he said that the bill re-
| curing the school-tax to be laid in money
| of series of measures to defeat the opera
| ton of the funding act. I'VE already sus
pected that it wasn't special love for the
schools. as much as it was special hatred
for the funding ill.--ED.] A resolution
was introduced and referred, asking the
Auditor how much of the $40, 900 each,
special appropriations to the Eastern and
| Western Lunatic Asylums has been paid,
and why all has not been paid.
| A bill prohibiting county and corpora
ton judges from practicing law in the
courts of the State was referred. The
House resolution advocating the remone-
tization of silver was tabled for convent
ence, but notlas an EVIDENCE of sentiment
in the Senate, Mr.. Daniel introduced a
Joint resolution declaring that this is the