Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-08-11
This sun the annual revenue
OF 81 5G4. $50. 90 will iuilc
discharge, Hnd Ic.vp e sur
plus Il
S20,03l 81

i"u7 VI 0ZU,U3l Il
) 2,5G4 $50 09
Tae a1paul surplus Of $500 OBI 81 will bo
appropriated to the payncns OF The past due
cjupors. which the srcaUd Auditor Informs
Us amounted 20 Sil9. i92 30 the SO June,
1879; 10 the arfeaIas,s TO ;he public schools,
which vas asccrtaincd by the Gc:n rel Assembly
by an act approved II IF March 1878,
al SIS, - 2G We nave no authentic informa
tlJn as 70 whether tn re has bsen permanent
Increase OF this sum s!rca and finally to the
f=.ntorcem:nt cftho siukiag !und for the tx-
nsu'shment OF the public dett.
ADpreneGs,oDs We're entertained that tho
past due Coupons clipped from the old bouds
might Intercept so n.u1h CT the revenue thai
the Auditor would b. t reed to used the school
!unc 20 meet che iuterost or the new bonds
This nd ouly happen during tho tra1sirou
period roG the Old to the new boud5, aud
would soon cease, as the stream of cnupno 5
you'd be drie(; up By the reiuuding OF The d., b..
But gu. party was committed So we'll to the
maintenance CT the schools as to the settle
mept OF ihe debt. and accordingly passed an
&C Session Acs 1878 10. paga, Isl, commit
nag almcs; the enLlIe school fluid in cucren.
cy to the dliec custody OF the several counties
)
AID sts!lcg tttotuaIly every hard that might
seek to div IT 1t. At the same time the Au
d!tcr was allowed, for the purpose of MAINTAIN
lng imp.:ct faith with the creditor, 10 aotici-
pate The revenues applicable TO the payment Of
inter 81 by the tcm:, raFp loaps; and on the
failure sod OILY on the failure OF that .Xpe-
dent, ~ Sell certihcltus of inLebtednass 1t
price IN no Case less than seveutyfyc ccuts on
the dollar.
1t is plain that the revanre of the State will
be sufficient cr all puTpos unless the past due
coupons are presented at onue, or within short
period. The experience Of tbs ps. does not
Justify the bcilrf that they will BE- 30 presented,
aud The the Communication Of the Auditor
dated AuRust |, 1879, heretofore referred to,
shcNs that he mas been able duriag the current
year TO repay the money borrowed from
The banks the interest or the new bonds due
July lst 1879 aud TO distribute 10 addition o
large sum to the public schools, and this has
baen done 70 w!ths#nding the tao, that ure or
AMOUNT OF coupons nave come in than ever be
fore during the same period. We can safely
say, therefore, that the trouble is psst, AID
that NJ Ger ifoates need ev>r be sold for the
rate at which the rofunting is bcog accom-
Pushed will soon stop the hJw Of old cou.
pOns Into tho Treasury. We have satisfactory
Information that up 10 this date sb.ut $l2,
UOO QUO OF Souts are under tho control of the
funding associations, Including upwards of
$1,000 000 presented tor iuodiug before July
l, 1879
Ia this statement we have given every doubt
against tho CImmCnweallh-eVtr chance
against the settlement. Pursuing the same re
solve, we proceed, in fine. to consider the con-
s.: gu gees OF an alleged diminutiou Of the rege
nue, resulting from re'asscssmsnt of lands,
which will be made 10 1850, and tho effect or
such reduction on this at justmeut. NJ one
nlcpatcs, or has pradiated, large reduction
OF TIE gross rctu: Us from lands than one. tuuuh
COncsde for argument thai such will be the case,
We arc Informed by the Auditor that the net
revenue for tbs year 1878 70 derived from real
estate amoupt-d to Sl,U75 so co Que fourth
Of which is S2GS G42 Is Oi this one fifth, or
S53 76S SO, will uudcr the law be lost to the
schools; so.that the rem aning foui-f ;hs-to
Wit, $2l5 OI4rl2-TiI represent the amount to
be d. Quoted irIm the above stated surplus Of
$500 OBI 81. which vii! still leave surplus OF
$lO4 957 ~ But W. do not believe that such
reduction OF values is possible.
It's therefore, plain that if the w)rae an
prehensons OF the most despoudent are re
a!iz,d; if the depression of business shou)d
s6s OF the government be practicable; it the
wisdom of the Legislature should fail to pro
Vido additional sources Of public revenue; il 90
new carita, or thrift. or indus ry should appear
in Virginia; il ev; ry bond and its certificate of
lntert 81 Issued ty Virginia q Of which we're is
sued scver IS years ago should be Present
cd, sill the Conservative party has redeemed
It's pledge, haa solved the great difficulty has
brought the.dcht wihia tho iIiy OF the State
without new turdrrs upon the people, aud has
preserved in the scttl, m ut tho good faith and
credit OF Virginia.
We claim this wise and beneficial settlement
to be distinctly Conservative measure.
ReTe again we appeal 10 the record.
The McCulioch DILL was a Senate bill ard
passed thst body on the 9th of March, 1879. BY
recorded vote of % ayes to noes. (Senale
journal, page 463) In the list of the % ayes no
Isme appears but that Of Conservative-no
Republican, no lndepondont whilo of the 8
noes but were Conservatives. Tho bill passed
the House CT Delegates March q 1879, by a re.
corded vote of 'G ayes TO so noes. (tlouse Jour
nal, page ECO Of these &c ayes y were Con
servstlVcs while of the 50 noes, bat "a were
Conservatives. Thus of the 10 Conservatives
IL the Legislature who voted upon the bill i
voted for 1t and only Is voted against it, showing
tnat more than three tourths of Tho Conservative
mem bors OF the Legislature sustained the bill
while OF the 81 Independents and Republicans
who voted upon the bill 30 opposed and only 4
sustained it. No commentary on these plain &c
ures is needed to prove that it was tho ConserT-
ati|o psfLy, acting through their chosen dole
gates, which introduced, shaped and carried
through this great bill OF peace. AS might be
expected in shaping the features of this bill,
there were col h.cts OF judgment among these
true and faithful Consers atives but they ezhib.
tied patriotism sufficient to yield their personal
views and compose their differences in order to
sccomp ish great bic good. For this benef-
icent pubic service, follow Conservative of Vir-
gins. your psrty is assaulted, your organic .tiyn
rnputisted, and your authority defed by y fac
ton whoshoW no claim to your confidence or SUP
port
In the midst of tho lsbors of this Legislature,
when every patriotic member WAS earnestly
striving to eff ct beneficial settlement, this fac
ton appeared Under cali Cor u caucus Of all
the opponents of The McCuloch bill, q co1ypn
ton, POSED of Independents and Repubi-
CAM, assembled st Mozart Hall, in Rich iuord.
On the 10Th of February, 1879. and proceeded to
orgSnlzs new party, with complete party
outside of the Conservative oryani.
zation. Tine leaders of this faction, who call
themselves 'Resdjusters without waiting Tor
the result Of any amendments or notifications To
the bill then pending in he Legislature, pro- |
claimed their hostility to it, and avowed their
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