The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-10-02
NO.25.
NHH

terest on the public debt, and afforded an
annual redemption fund for the principal Of
the debt. We now only demand that il
| snail support the government and nav the
| interest. and ask that such rate Of interest
/ may be fixed as will fall within the revpnue
produced By the rate of taxation levied be-
fore the war for both principal and Interest,
An adherence to the rate OF fifty cents on
| every one hundred dollars Of assessed values
and the appropriation Of thu whole excess
| over what is required for the free schools and
| lor tne support OF the government, to the
| payment OF interest only on the public debt.
| gives the creditor annually more chan he ia
entitled to claim. Ten cents on every hun
dred dollars of assessed values is required by
the constitution for the school fund. A iarr e
part OF this has every year been taken from
the school fund and appropriated to the pub
TIC creditors. An act of the last General As
sembly will probably embarrass this diver
sion IN the future, and save for the schools
nearly three fourths OF what ought to be al,
proprated to them. The Act of March 3fd.
70 accomplished partially and indirectly for
tue schools what the barbour Bill would
have accomplished fully and positively,
This act enables the schools % be support
ed by what can be obtained by $ lie OF three.
fourths OF their constitutional dues in competi-
tion with the bondholders' coupons. To put
threelfourths OF the school-fund on footing
OF equality with the bondholders 'unconstitu
tl0nal dues was regarded as great priyi-
lege. In consideration of this priv ilege all
further call for justice to the uneducated
children is to be hushed. In effective op-
GRAFTON, this scheme will give the schools
about three-fifths of what the constitution
Intended for them. Seventy-tiYe cents in
the dollar Of the school fund is to be put in
sh ape to compete for sale to the taxpayer
with the ondholders' coupon. Ii the school
scrip shall sell as well as the coupon, the
school fu nd will get six cents for every ten
that is due to 1.-THE other four-tenths is
surrendered to preserve our reputation and
the BOndholders' interest onsthis invest
ments. For this concession che bondholtier
expects the active aid OF all the school Of
ficials in fastening his claims upon the peo-
pie. Perchance the bondholder and school
officials may be hoist with this petard. The
next General Assembly ought be chosen from
candidates pledged to correct this and give to
che schools every dollar dedicated to them
by the Constitution. | aided in the passage
OF the School Bill, not because it was right,
but because it was the nearest to right that
could be obtained after the veto OF the Gov
er had suppressed my effort to give the
schools what they ought to have.The Brokers'
Bill renders the robbery OF two-fiFths of the
school fund as prominent as that Bill. If the
schools are to have their dues, the Brokers'
Bill and all similar legislation mnst be an
nulled. The Broker Bill bonds, the Gov
eminent and the schools cannot each get
what they require, if the rate OF taxation is
not increased. The schools are the feeblest
OF the three competitors. Let the people at
the ballot box take sides with the schools, bind
every candidate to see to the full appropria-
ton to school purposes Of the proceeds Of the
tax levied for such purposes, not six cents but
ten cents on every hundred dollars as levied
tor the support of the free schools. For the
other forty cents let the bondhOlder and the
government official contend If the Execu-
tive and Judicial officers of the government
wish to surrender their salaries to the bond.
holder let them co. But the people must be
careful or these competitors will compromise
at the expense OF the people and amicably
agree that what they call slight increase of
taxes shall be made. The interest on the
brokers' bonds, the salaries OF the govern
ment officials and the school expenses can
not all be paid without an addition of at least
~ per cent to the present rate Of taxation.
II the people consent to the addition of one
cent to that rate, the whole cause is losr and
the rate OF taxation will soon be largely in
creased. No increase wharever-absolutely
nOne-in the rate of taxation on real and
PSASOhni PlOPOItJ OuSut GIlG IUe&OFaUl6
demand OF the people from every candidate
this fall. Ii this pledge is, faithfully perform
ed by the next Legislature, the Brokers'
Bill Will be nullified, and new and just set
Element of the pub lie debt will be petitioned
for by the bondholders. If the slightest in
crease is allowed, all that the bondholder
wishes will be given to him. An impsyer-
ished and oppressed people may then resort to
remedies which 4 Will regret to see applied.
"A hrm, manly adherence To the principles of
no increase in the rate of taxation viii per-
haps even yet rescue che State from the
evils that impend. If this principle shall
be preserved in the administration of the
Government, the brokers Bili'' set
Element must be abandoned Ii the Bro
kers Bill settlement shall be preserved,
this principle must be abandoned. The
" Brokers Bili'' settlement will require
the people of Virginia to pay in period Of
forty years $S5.S00,000 as principal and in
terest. They will pay, during that period
So, 5000 as interest (nearly 100000
more on that account than they ought to paw
and they will pay $50, 900, 900 of principal
ST., 100000 more OF principal than shey
ought to pay. Thirty two and half millions
OF dollars more that is just, is what this bill
requires us to pay. 1t is true that this excess
is distributed through period of forty years,
and does not average much over $500 900
per annum. We, pay this for position in
Northern society and credit inoHorthern
commercial centres 1t is an enormous price
for commodities Of very much questioned
value. But, my dear sir, you and those with
whom you Cooperate need not fear the result.
The people are with you. Even if the Broker
party could win, it would be victory OF
brief duration. They conduct this falls can
vass upon assurances that the proposed set
Element will require no increase of taxation.
II So improbable a thing as gain of tempo
rary power from such canvass should come,
it would be of no more avail than the Fund
ing Bill settlement of 1871. You and those
who.concur with you desire cescasion of agi-
tation in reference to this subject Hence
they seek settlement that can be met with
out an increase Of the rate Of taxation. No
settlement that is not within that limit can
terminate the agltation-giye peace to our
people, or security to our creditor. ,lai8v
Very truly and respectfully yours,
JAS. BARBOUR.