Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1879-01-17
THE LEGISLATURE.
A CALL FOR STATE CONVENTION OF
READJUSTERS--SOM INTERESTING

&C., &C., NC.
The news from the Capitol is of more
than usual point this week, being, first,
call by the Readjuster members Of the
legislature for separate political ofsanl-
zation in the State Of these who think
with them, and. second, a proposition
made to the creditors for conference
on the preliminary condition only, OF
no increase of taxation in any settle
ment that may be agreed upon. We con
dense from the Richmond papers the pro
ceedings of the week.
CALL FOR STATE CONVENTION OF
READJUsTERs.
A conference Of t g keadjusters of tb'-
General Assembly was held on Monda
light, presided over by Co. Fuikeison. ri
which Senator Paul, of Rockingham, Vi
fered the following resolutions:
Resolred, That the executive committee
be directed to Call convention OF To.
Readlusters of the State to be held in tn
city of Richmond on Tuesday, the 49,
day OF February, 1879, and that they pre-
pare an address setting forth the reasons
therefor; and that said address be re-
ported to an adjourned meeting OF this
conference, to be held in this hall Oh
| Thursday night next, for adoption and
ratification.
Mr.. Paul urged its adoption on the
ground that an organization had been
formed to defeat the will of the people,
and that made an Adjuster organization
necessary. Mr.. Harvie, Of Amelia; Rev.
EioIzJ;r Mr. o6u
Mr. Barbour and Mr. Harrison took a
similar view. The resolution was adopted.
Another. pledging the organization un-
qualifedly against any increase of taxa
ton, offered by Mr.. Carter of Loudon,
was opposed by Mr.. FauntlerOy, as in
consistent with the invitation just given
to the creditors for a conference. Mr.
Carter replied that he was opposed to q con-
| ference, and after some further discussion
| the resolution was, as the Richmond
"Whig's'' report states, UNANIMOUSLY
adopted.
CONFERENCE WITH THE CREDITORS
OFFICIALLY CALLED.
The Senate having adopted Mr.. Koiner's
resolution inviting the creditors of Vir-
GINA to conference without coupling it
with any reference to taxation, it was
when it got to the House referred to
| the Finance Committee of that body. That
committee reported a substitute for it
which stated ''the impracticability of in
creasing the present rate OF taxation, and
on Monday the substitute was adopted in
the following form by vote of 70 to 50.
Mr.. VanLear voting in the affirmative,
Mr. Hanger in the negative and Gen.
| Echols absent:
Whereas in the estimation of the Gen
eral Assembly it is desirable that such a
speedy, just, and final settlement of the
public debt should be cOnsummated as will
| bring the payment of the interest assumed
thereon within the ability of the Commen n
wealth: and whereas this General Assem-
bly,, at its last session, IN IAN act to pro-
vide for the consolidation of the public
debt and the payment of an uniform rate
of interest thereupon, approved March 4,
| 1878, did submit to the creditors OF the
| Commonwealth a proposition, which par
! ties, claiming to represent large number
of said creditors, have indicated their I'M
willingness to accept: and whereas certain
| parties representing the holders of a large
| portion of the bonds OF the Commo nwealth
| have, through the Governor, suggested
| terms of settlement which, in their opin-
ion, would be acceptable to very large
majority; if not the whole, of the holders
of Virginia securities, which terms will
not, in the judgment Of the General As
sembly, be acceptable to the people Of the
| Commonwealth, because of the impracti-
| cability If increasing the present rate OF
taxation, and in view Of the greatly re-
duced resources Of the State, but are ana
ious to do all consistent aoih aolaat is believed
to be the interest of the State and her credi-
tors to adjust, If possible, the differences e1is-
| ting bet,Cee7e The proposition made by the
! General Assembly at its last session and the
| several propositions 1,oav before us relating
to- settlement of the public debt; ant. where
as the prospect of such settlement as
wi be acceptable to both the people of the
| Commonwealth and the holders of the
bonds Of the State may be promoted by a
direct interview bet Ween their respective
representatives; therefore
g RESOLVED By the General Assembly,
That the Governor be authorized to re-
quest the presiding officer of the Council
of Foreign Bondholders of London, Eng
land; Messrs. Barring Brothers & Co.,
Messrs. l.. G. & G.. G. Ward, Messrs. de
Rothschild, Mr. August Belmont, Messrs.
Brown Brothers & Co., Messrs. Richard
Irwin & Co.. Mr.. Charles NJ Fry, and Mr..
| Hugh McCulloch, or the authorized rep
resentatlves of said persons, and such
| other creditors of the Commonwealth, or
| their representatives. as may desire to be
present, to meet this General Assembly in
| the city of Richmond on the 22d day of
January, 1876, for the purpose of confer
| ring upon the subject of an adjustment Of
the public debt"
The Senate on Tuesday adopted the re-
solution as it came from the House, so the
representatives of the creditors will meet
in Richmond, January 22d, which is next
| Wednesday.
| INTERESTING AND IMPORTANT ACTION
CONCERNING THE PUBLIC SCHOOLS
In the House Of Delegates, on motion
of Mr.. Jordan it was
Resolved by the House Of Delegates, That
| the Superintendent of Public Instruction
| be and is hereby requested to explain to
| the Honse what he means by diversion Of
| the public school funds.
DR. Ruffner sent the following to the
House:
OFFICE SUP'T PUBLIC INSTRUCTION.,
RICHMOND, January 7, 1879. !
To the Honorable the House of Delegates:
have the honor to acknowledge the re-
ceipt of the following resolution.
"Resolued by the House of Delegates, That
the Superintendent of Public Instruction
be and he is hereby requested to explain
to this House what he means by diversion
of the public school funds.''
I am glad to have the opportunity of
stating that have used the word ''diver-
sion'' in its ordinary and proper sense Of
turning aside, and hence in applying the
term to school funds have simply meant
that the school funds were turned aside
from their lawful use in maintaining the