The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-02-07
The State Debt.

Taking fun view of the whole field rs
the debt question now stands before the
Legislature and the people OF Virginia.
before the creditor and debtor-we can
reach but one conclusion as to the purpose
and design Of the readiusters' State con-
vention which has been called to assemble
in Richmond on the 25th of the present
month, and preconcerted purpose. First,
to defeat reimbursement altogether by the
present Legislature; and secondly, by so
doing to disrupt the Conservative party OF
the State in the elections Of next fall,
80 as to gain ascendancy in the
next Legislature by combining the
floating elements Of all the extremists, grum-
blers,- and factonists, without regard to
race color, or previous condition, and not
for the purpose OF protecting the dear peo-
pie from the burdens of'any increased taxa
ton, but, for the purpose OF debating the
next Unite d ST. tes senator and Governor
OF Virginia. Thisls the substratum Of the
whole movement. and it Is not intended to-
adjust the debt or relieve the people OF the
State from any past, present, or'future bur-
dens! 1t is simply! d party and political
movement for the future; and not designed
to relieve us from our present embaIrass-
ments, protect our honor, or to soften our,
financial pathway in the future! 30 il.
p. The well-intentioned; people OF the State,,
Cher efore, who have mo political axes to
emergency, put their foot down on the.
movement Of the 25th Of February, and
crush>it outas they would crush out a poi
sonous serpent in their pathway; for il the
people Of Virginia can't pay for few years,
what the creditors propose, as much as
three per cent. interest on q Just debt, then
they should at once say so, and go into
bankruptcy like individual citizens have to
do. Ii they can pay it,, and won't pay even
three per cent, then it is very manifest that
they prefer to come to open reputation,
and dishonor the State and people forever!
There is no middle ground on this ques-'
ton, nor any foothole OF escape from this
dilemma. -. .&.., - ~ $780,
For instance: II our people cannot carry
three, four, and five. per cent. interest with
in the next forty years (Which includes al
most two generations), then it'would appear
TO the world that we don't want to carry
anything honestly; and II we can carry It,
as we are, confident that we can, stben til e,
present Legislature ougti to assume the re-
sponsibility at once, and not throw il of for
whole, year and another new Legislature,
whose crude notions would make ssconfu-,
sion worse confounded!' % ~ fs:ff <!'3j
With this view. or the question we; are,
glad to observe that our city delegate, Mr.
Bernard, voted against any such conyen-,
| tioD, and equally regret that our friend:
Walsh voted on the other side. Had the.
boEdbo Iders come to Richmond at tile sinyi;
tation OF the Legislature and the Governor,
land demanded the s. bottom dollar - aud Q
per cent. interest, then there might be some
OCCASION and use ID the. proposed eonYen.
zion. But when they came In the generous
and liberal spirit OF compromise which they
have done Of forty years extension Of time
ndthe low rate Of 3, 4, and per cent. inter
| est, TO reject theal is an insult, and otaik
about better adjusting the matter by con-.
Yention OF agitators 10. be. held on The 25th
Oh February Is, simply .triding with grave
question involving the honor, credit, and
prosperity of Virginia. What can such q
cong iomerated convention do TO teadjnst
The debt az the very close of the egis sl'a:5
NoTaTsdi And hence Ye isel fully war
raHtea in charging rs ne DO tIst The only
sssss s lss ss &c e ss + Is.