The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-10-21

+ shall We have peace null g, q, ~ alsa .s

i,,o, ia allowed an tosl W mo Y,
5virpInias Shall capitalists have the assn-.
rance that Ii they invest their money u tnas
a,,.e Ii MN not be stolen from them under
the operation Of communist i,.la "
a.inp laws? Shall money be invftea 70
maize it'll home here Shall prosperity he
saIled upon 10 shake her golden wings over =
this honored old Common wealth 7 shall
me people have rest from he turmoil and no
strife engendered BY place.hunters ana tt
demsgogues |? Shall the community De per.
mftaed 10 repose In the consciousness snae
the: state is not to be ruined; by revolution
against the property .lfoiders 9,,,
These questions are important ones 70 tue
people 81 Virginia. s'As murder VIII out.
SO Just debt owing bya State VIII hauns
that State "forever and afday" IL u IS NOT 90,
paid. sItwere the supremest folly 10 hope
to end our troubles BY repudiating the pup.
lie debf. q No man OF experienceor oisae-
ouasntance with The worlds history eau en-
tertain the notion, that we could lgetrld q! q
our debt by reputation, even II there we're
no Supreme Court Of the United States IN
existence. The debt will not Clown.
Like BANoU0's ghost, twill constantly APP
pear at our table: It will clamor necessarily
for Justice. And there will be no dawn OF
day to drive it to a. hiding.place.
Nor can we relieve ourselves OF the pub
lie debt By agreement with our creditors II
we refuse to ratify the most favorable agree
ment made last winter by our OWN du'v
authorized agents. Would Governor Hoo1-
LrDAY humiliate himself so far as to ask an
other conference with our creditors' NOT
he. Why should hep They would laugh
him to scorn. Read the MCCULLocH bill
and see IL it would be possible Tor Legls-
lature to make more solemn and binding
contract. Now If the people OF Virginia
refuse to be bound by this solemn covenant
entered into by q Legislature elected Tor the
very purpose of readiusting the pubic debt'
what possible guarantee could they offer to
their creditors to induce them to accept q
new proposition Would they pledge the
faith OF the Commonwealth? Why that
has been pledged over and over again.
Would they authorize the Governor TO
assure their creditors that this time they
mean what they say? The Governor has
already given every assurance which he
could give that il the creditors would ac-
cept the terms of the McCULLoCH bill he
would do all in his power to secure the
successful operation Of that bill. There
- IN, fhjc Iirpptlnn- "A
State dishonored is State that no
capitalist will trust. And il the NC.
CuLIocH bill be rendered imperative by
the act of the Virginia people on the An OF
next month, then every bondholder Who
shall not have refunded before that time
will hold on to his bonds bearing per
cent. interest and coupons receivable Tor
taxes. lie would be fool indeed to accept
the terms of the MCCULLocH bill in the face
of the hostile action Of the people for
whose benefit that bill was profered. II he
finds that he has got to appeal to the Su-
preme Court OF the United States,
be will, OF course, go to that trl-
bunal with bonds bearing the high
est interest that the State has solemnly
covenanted to pay. Hewill take to that
high bench the bonds which the Supreme
Court Of Appeals; Of Virginia has decided
were issued under contract that binds the
State as solemnly as a deed for land binds
the grantor. He will refuse even to neSo.
tate with a dishonest Commonwealth.
Why should lie waste time and money in
negotiating with a State that has no respect
Tor the sacredness OF contracts, and no
sense of the shame, that attaches to all dis
honest communities?
&Sothere is but once chance for peace,
and happiness, and that is in
ratirying the McCuLLooH bill, and standing
up to the bargain which our agents have
made for us. In no other way can we hope
either to preserve the name and fame OF
Virginia, or deliver ourselves from the
grinding operation Of the funding act OF
1871.