New-York tribune., 1878-01-03
TIRGINIA'S DEBT.
THE PUBLIC AND PRIVATE DISGRACE OF RFPVDiA-
IIoN POINTED OUT BY RICHMOND NEWSPAPER.
lBY TELEGRAPH TO THE TRrBUNEl

THE PUBLIC AND PRIVATE DISGRACE OF RFPVpiA-
TIoN POINTED OUT BY A RICHMOND NEWSPAPER.
IBY TELEGRAPH TO THE TRrpUNEl
WAsnINGroN Jan. 2.-The Richmond Dispatch OF
to-day Publishes leading editorial article entitled
"The States Right TO Borrow Implies the Obiiga-
tion to Pay"in which the following passages occur
If the right 10 borrow necessary 10 the public pro
and public welfare the dny of maintaining the
public credit political question must DE ,ineraIse
but il is a duty cxacted by civilization. milton that
should borrow and refuse pay, would not only destroy
own credit but would become offensive III me eyes
OF oncr nations and In every honest mild ihere
would be inspired "a feeling Of aversion toward the de-
nquent States This borrowing Of money Tor the puDe
good is of the most important exercise OF i,oMhc I've
authority. II is possible only 70 maintain IFS dignity Dy
a faithful compliance with the solemn obligation IN
Cured in the act OF borrowing The refusal 70 comfy
the faith pghed III the premises dcgrades me ct
TO tic infamous level OF highway robbery ana; IN te
opinion Of all civilized people renders the State ao-
eether unworthy OF recognition ~ such.
forfeited It's public credit by viii be plnnged
into innumorable adyerses. Public discredit brings
there will be DISADVANTAGE and injury The ager % cen
WILL from every direction, he pointed at tclr stare
gatcd which is described as tue fate OF TIE con
demued Of higher than earthly court, who VIII cail
upon the mountains to fall down upon them ana mac
Wien our fathers created our Federal Government
chiefly to direct exterior concerns aud foreign Ier
COURSE they never dreamed that any would
fail to nay It's public oigaons Had they apprehehaeu
any such thing there would have been some clause III hc
Constitution To provide against amy such forfeiture oi
public honor For state could lose its public credit
ami forfeit its public honor without mfcting injury nor
only within it, boundaries but upon the Natonal
reputation. We venture the idea that the people
then directing the public affairs would have so down
failure OF state to maintain its public homo as tana
noun, 10 failure to maintain It's title 10 statehood anl
we really think state whose legislation and moral
character has led it Into embarrassment hist ana re-
pudatOn afterwards should be deemed unworthy OF Rs
sociaton the cOnfrderacy of states. Were she re-
nnnied 10 the territorial condition, and aXgatGcrers
appointed tn collect taXes her people and her
debts It would bc no less than what the de-
minds OF Justice would require
Uapuy are the communities who feel that their con
-Ilg
concerned the Revolutionary Fathers were correct IN
their trust Ia the integrity and honor Of the American
people. shall not people OF Virginia be cassrd
annrst these happy people II they desire such dcs
nat0n let them bhor the cvi. suggestion tat they are
the public honor aud above al lct
them AVOID ali propose tO compromise the pnhC IN
tegrity by the dcccii artlce OF cDiorced equity or
"iorcih. adusmeni II is no better than reputation.
Successful, il makes the state freebooter and land
pirate.
The Dispdih has larger circulation than any
other newspaper in Virginia.