The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-09-27

General Field w ~ f-.rs
The stanton Hssy pstnidn gives
.o, 49, aceount Of the dssusyis MIN stannton,
IN which hessrs. FIeEp and PAGE repre-
seu,ed the Debt and sPAgL stood .ap
for the SO. called Readi listers, really the Oe:
lssructiyey: The ,'TysHfuns 9ccouns OF
ss.,ane points made by General FIELD Is fail D.
I'm, and lust, and we 4htnkas~P Eeper oeeps
come paragraphs theraisom. The Vtratr'Dsaf''
lsayss ts 80. : .g5..
General Field commenced his address,
land he was greeted with generous q ppl;a,use'
ETt was the first time the General naq ap,
pcared before an Augusta AUDIENCE aua
theimpression hemade was certainly Vtiy
| favorable one. His CALM dehberase, anu
ear nest manner; his thorough, ,i klno|seqge
| Of the question under discussion ms ap ~
method OF handling II, aud the fact tnsI NJ nc
Ihad been one OF the strongest OF !ne oid ne ::
| adiusters, combined, to secure MN Auua,
yided attention, and caused DIS ut.era'iI 30
| to claim more than o passing notlGe. III
speaking, General Field would strlke yoa
as giving expression to:the truth, Tor there
| 10 e, candor and perfect frankDess about all
tbat he saws that ss decidedly refreshing IN
FDOilIlcS, dua ibSpiAS GO ~
1 esty of the man. -. =. .;tl: .....z.L
lie commenced by saying that he appeared
simply as an humble citizen OF Virginia,
striving to render whatever service he couid
| to his State, and deeply interested IN altman
concerned her. He had originally been
Readiuster.. end was still af2fted61a stef.
! rApplause.l Heiwasa Rea6iuster, not from
| choice. because he honestly believed the
State owed the debt, but be believed at the
same time it was larger than she could pay,
and that 1t would be to the interest OF the
creditors, as well as the State, to meet on
some fair ground OF compromise. with TINS
| idea he became Readjuster for the sake OF
| reimbursement, and not with view OF Keep
ing up the agitation When the object LOT
| which he had striven was attained.
General FIELD made an allusion to the
BARBOUR bill, which, he said, the Governor
made a mistake in vetoing, although he
confessed it had constitutional difficulty
in its way. which was quite suficlentfor lis
rejection. Still he considered it, like JOHN
the Baptist, a precursor Of the good that
was to comc--the MCCULLoCH bill. He
went on to declare that the McCULLocH
bill was the only measure which distinctly
states in terms that Virginia will under no
circumstances be responsible for West Vlr-
ginia's third.
But il is claimed that this last-named bill
effects no reimbursement. Let us see, said
the speaker, what it does accomplish. The
debt recognized by it is, in round numbers,
S3O,000,0O0. At 6 per cent. under the old
funding bill the annual interest would have
been S1.S00.000. We have paid as much as
81 .4O0, 900 per year, but never yet have met
the entire interest. The compromise sought
to be effected was such an one as would en-
able us to bring the expenses OF the State
within it's resources. For that the Re-
adjustment party was formed, for that it
fought, and the result OF this contest IS
that instead of paying Sl,S00,000 per
year we now pay 100000. The pre-
sent bill is distinctly readjustment
measure; the result it accompanies Is
in direct harmony with the policy pro-
claimed by the Readiusters. 1t is the fruit
of their toll, and now when its blessings
are about to be realized, when the fight has
been fought and victory perches upon their
banners, the veterans in the cause should
step to the front and claim the credit; they
should gather up the spoils and proclaim
them as their trophies of the contest, and
not allow their old enemies to step into
their shoes and garner the harvest OF their
brain and labor. Let the Readjusters come
forward and, rallying under their old flag,
proclaim throughout the length and breadth
Of the Commonwealth the triumph OF their
cause. loud applause.l The McCulloch
bill is, aud every fair-miaded man must ac-
it, the legitimate outcome OF re-
adj ustnaent, and the men who brought it
about are the men who should reap the
creditthat attaches to it. -,
One OF the objections raised to this bill is
that it capitalizes the accrued interest. 1t is
true that the interest that has accumulated
on part OF the debt is now embraced in the
principal, but in consideration OF its being
so placed, the creditor has relinquished one
half Of the amount, and for every dollar that
was due and unpaid you have given your
note for fifty cents. For the two million
dollars added to the priucip pal of the debt
you have gotten rid of four millions that
was due and unpaid. Does not such set
Element as that strike every reasonable man
as being decidedly favorable to the debtor?
Another objection is that in 1885 2 per
cent. of the interest must be set aside for
the sinking fund. The old funding bill en-
braced the same provision except that it.
went into effect in 1SS0-fve years sooner.
By the time you are called upon to pay the
amount necessary to secure the sinking
fund the taxable values Of the State will
have been 80 enhanced that you will not
feel it at all.
General Field believed that under the Nc
Culloch bill the obligations could be met
without increasing the taxes, and that sur
plus OF from two to four hundred thousand
dollars would I've left over every year. -
General Field closed with an impressive
pereratIon, in which he quoted the language
of Ruth, in describing his devotion 10 mis-
native State, and as he took his seat the
courtroom resounded with applause.
This is an honest account OF the speech
of an honest man-not sketch Of the rig
marolc of such talk as that Of MASSEY or
Wriggle-BERGER intended to delude the pub
lie and prejudice them against genuine
measure OF reimbursement. General FIELD
is a true and honest man, and may be be-
leved. Not so his disingenuous adverse
ries, who would inveigle Virginia into end
less trouble that such unworthy persons
as themselves might gain by Virginia's en-
barrassment.
CONDITION OF TIE AGITAToRs' PARTY
Toledo Blade, Republican. ]-Some months
AGO a couple of our fast and reckless young
men tried to make very short turn OF the
corner Of Cherry aud St. Clair streets
while the horse was going at rapid gait.
The huory uas unset and the Young fei-