Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-11-21

York aai tho Council Of F0r;isu 31EGh9iGcra |!
Of London undertook to nlabc The Lecisla- !
iutc at ks scssion, After The fullest tiscussioc.
aaa after the bill which WEB Ggs: presented had /
boon 50 changed as 10 render ;;lo STATE u !
qucstionab'y tblo tu meet lis requirements, |
pssac1 tic funding ac:. tho rapcai Of wh:c'! Is |
10 be attempted at thc nt - session Ds the Leg
islaiurc.
''BP this act," Continued Mr.. Mcuai;Gch,
",be ratio 81 interest Oh all he bands 10 lie
funded under it was reduced ircm 6 per CT 10
3 per CT. for ten years, per g. t;ir &c sue
cacGlGg twenty years. and par G !1i iNn yGara
Notwithstanding tho average rate slightly
under per OF. fer tho time the bonds had tc
Iuu-thG coupons 10 be receivable !cT iii public
dues, and exempt from State, couny, and mu-
nicipal taxation. On the overdue iaicrcst on
the unluudcd and 'poolcr' bombs 50 ptr c. only
| was to be paid in tho new hnr!F. 10 plakc tho
act elective. and to rcGoI Gle as lar as night
DO practicable tho luto:cais OF lha $50 CiaSsCS-
| tho secured and ungcCH10.t bOaihGiIcfs--i. was
provided that while tho eyohnr;:c Of bonds
should be mado dollar inr dollar, !i& amount G!
| uniuadcd end 'rccler' bonAa 60 hA re-
| funded should never sX,acI oao ii:ird OF tho
| amount Of bonds outstanding ua!H Sis ,0GU, OCO
bonds, the coupons q which wsGe receivable
Tor taxes. had been retired. Ii cXccatiag the
law the Funding Associai:Go R:,G ;o unEgcii
Of Foreign B,n,lholdtrs have given the nclq
bonds at the rate OF three fer Two bonds irh
tax receivable coupons aud ono hoFd, ihn ecu.
pon8 Of which were u0t 50 r CIV b., UaIGT
tho act about SO DOC, 600. or or0 third Of !hc
entire debt, less the nmGlt which WAS rcrGrlcG;
as proper ohargo against West Virginia, has
beer funded, on which The Stale makes prcs.
| ont sa wing nt per ct. Interest "
\ tD !, van on0aHnr hn tllrc-,f
was asked.
| Under tho circumstances, | DO" h!r, Nc.
COloch replied. when tho bill was intro
duced [ thought that The State was able to pay
aad ought 10 aer!e 10 pay four per east. ic:
twenty years and five per cent. thereafter, but
after careful consideration Of tho coudilion Of
the State my opinion WAS modified, aad, ii.
though l thought Tho StEtn might do better
with is patient srd long suffering creditors,
considered i. would DO advisable Tor tho Ass5-
citation ard tho Council to try TO make tho set
Element under Tho act as it became law"
"What, 10 your G, tim, would be tho effect
Of repeal Of the aw?"
ut would be disastrous to the State, ard Iii.
Fortunate to tho ho!d,rs Of the uniuadad end
unsecured boDds Tho debt of Nir9ioia is an
erto-war debt; there is nothing OF Garnet bag.
ISM about i. Fer every dollar CT i. tho State
received full payment in hard money. No re.
a6juster or rcpudator contends tia: i. is not Q
Just debt, every dollar of which is rigittnIlg
due. 10 attempt to repuda!o such . deb!
would DO infamous--moro infamous than Guy
attempted reputation by any other Southern
State. Tho repeal Of tho funding law would
not oDy be Infamous, but it would Increase tho
burden Of the debt. The coupo1a en- $40 COO.
$50 refunded bonds, and On Two thirds Of the
remainder OF tho bonds orc receivable Tor taXca
and other public duce. aud they NUS. DO so re.
c;lvcd as l0lg as dollar OF them is Ou!stanil-
lug Tho law, as Tar as it has hcrn executed,
has been great relief 10 tho SLATE; it fully ex-
ecuted, it would lift from it an cHcrrlnus
burden. Ia my opinion 20 further c0ncea.
sion will ever DO made by tho bondhodr,s.
II tho law should be repealed, tho credit Of tho
State will DO irretrioVsbly raincI while tho
burdens OF tho tax payers will be incroasnl. Il
would not only bo disgrace Wi.hou. prcii! but
disgrace with absolute loss"
/ DO you think the law will bo rapca,6d?1
mo- do not. Sovcn-oighths of tho mcat in.
tellsent men aud largo property hodcrI Of the
| State arn IN favor OF thn law, and although tho
rosdi claim riti crity in b1ih bsanchls Of
tho Legislature. they will hardly dsra 10 rcpos
| an act which IL 60 advantageous TO the Ststo
| Not tow OF tho nombGrs elected ns rcaC iasta?s
arc more sn xious about tho iccs and tho 'spoiIa
than the debt. They know, TO matter %haL thar
may have said during Tho caavass. that INC &c.
IoleVes the lex EaJerf, and thny Will mCra th&1
ho.ltato bcfolo voting tor ils rcD0sl.'
In regard to tho possible action Of SogorGtc
Holiday, thoill iha Yir:i1is Legislature Tarcai
tho law, Mr. Mc.uilcca said: ~ Nj, net, Of
course, authorized 10 speak fer :h0 Gap0raor,
but no Is an ab'o. hish-!oncd Eun;tcInnn, drc;,l;
| concerned III tho honor and welfare Ct The >;,a!o
He strongly favored the rassaso Of Chs bill hrti
| have TO daub! lhst ho will stand by :. sr,; Ia
| IAnii ii 10 Tho bltec cnti i"
'DO VuI think lint Lh:i ari. ri ;O, -. ia n.,.-
ton cr raacal hes ;icna much harm T. tho :i;,c2i
| y do :mmans2 hafni--;iRt:n IN Tia c;,6i. .:
(ho 'i,l" Ss.1 H. her great !Eatrtist Interests"
| MiRACuLoU3 ESCArE-!An F.,3icg. ncan:-
red at the Lecs:'urr AMI Al lie 2ufnrika l,!i;!cc,
over litilo riVo7, on Monday ;:i,cfneo1. !i..
| George SufV!cG, Il butcher a bao bn;c. Wa
crossing iha bridge vii, i,vn horse wago7. ir.
which! were fourteen hoga, occurred in = e,a!a.
When about hall way over thc bridge ra7n
way, aad tho entire e'ruolute r:II with tfo.
mendcus crash, landing Sugviok. his horses,
wagon and hogs in 0 the stream bcou, t. dis.
trDce OF S>Dic ion feet. ho horses were tira,gu
on their sides ADD heli rnt by !ho cnta1eicd
harness-the wagon icy upside ,lovu-hc
crate, caught hy the debris, kept the hns5 &C.
cured. while Nj. s., wGdgcd il amongst tho
| broken tlmbarS, with tho breath almost kGocl;,
cd cut of his body, remained in that position
Tor several minutes. until the G0ilo o! tic fall.
| Ing bridge attracted tho attention Of & number
| OF persons ia tho ncighborho0d, who ran to his
assistance. aud succeeded ia rescuing man.
hcrHs: wagon and hogs-aad, strange to saw,
beyond few ministerial bruises and q icvcro
| stunning by Mr. Surviok. no further damage
was sustained. Tn. bridge was comparative
ly Few oac, and vas 10 constant day use. Tho
accident, all things cousioscl Was most re-
ms!ksble. not Only Because of lis uacxucc,cd,
ness. but nlso miraculous escIpo from serious
lrrJurv, II not death, OF tho party c;ossirg.-
LOuaoun Mirror
FALLS CHURCH. ITEMS. The devil puls ia ~
appearance at Falls Chulch periodically, and
either IN person or By prcxy has cillcd o. s,y-
eral persons there within the pest few DAYS,
William Tyson had his wagons damscnd h,