Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-02-24
DAILY AND TRI-WEEKLY By
rrcnR SN-owDEN.
MONDAY RvEN'G, FEBRUARY "a, 1879.

q
MONDAY EVEN'G, FEBRUARY "a. 1879.
The passage by the Senate of Virginia, on
Friday last, Of the bill authorizing the sale OF
tho James River and Kauawha Canal to the
Richmond and Alegany Railroad Company,
supplemented by the passage on the following
day Of the bill providing for the settlement Of
the Statc debt by the same body, shows that
tie Senate g! least is cot as ccnsurable as some
Of its former ac;s have led US to conclude, aud
if the House of Delegates will CONCUR ct orce IN
the Senate action on both these bills, that boty
also will redeem its good name in 40 slight degree,
and relieve tho present General Assembly OF
much of The oGum that low legitimately at
taches to il. The advantages that will result
to the Slate from the passage Of the bill au-
tborzing the sale Of the canal are not SO appe-
reot, but as those who should know most about
the facts 10 the case, aud to whom the ooDstruo'
ten of railroad aloog the line Of the canal and
its once contemplated extension will be ncst
advantageous. and to whom tho failure to build
suoh road will be most advantageous are
convinced that tho effect Of the bill will BE- 10
promote the prosperity Of the whole region OF
country through which the proposed road is to
rup, no ere iodisposed to dsoredit their as
sertons, and The more SO because such pros
perity as they anticipate Tor themselves from
the passage CT The bill must Of necessity react
beue6cialiy upon The State ct large. About
the advantages that must result from the pas
sage Of The bill for compromising ard settling
the State debt, however, there can be 20 doubt.
They are SO patent thst oil who don't Shut
their eyes must see them. The State borrowed
money snd rgrecd to pay six per cent. for it,
but the creditors COW uerce not only to extend
tho time for which the loan vas made but to
reduce the rate Of interest for the whole time,
and for the frat tea years of it 10 exactly one
half Of what Was promised them. Could an
individual 10 tho conduct Of bis private affairs
expect more liberal terms? II he had bor-
rowed money anG spent it 10 bugi0g lots and
ereo!iog buildings, expecting to repay it CD the
profits of returning, ship and that chip fouu-
dored at sea. would bis creditors 30 moro likely
to attach his real estate or to say to him FAKE
your !imc about pcy!cg tic pIlooipal Of tie
deb',and t5r tea gears, OF until your zeal estate
Increases 10 value, pay us only half the interest
that was agreed upon ?" The latter is Just
what the creditors Of Virginia have donc. Tho
motives that prompted tho offer of these favor
able terms are not proper factors in determining
the advisability OF accepting them. Whether
the creditors wsro aotuated by kindly sympathy
for tho States present depressed financial coz
ditiop, or. by tie belief that the available re-.
sources of the State would not warrant the &C
cepsance Of proposition less favorable to her
Interests, or by tho knowledge that with many
people in the State the dsbatablo poiot was the
acceptance Of this proposition, Gee containing
even greater oolcessious, or no terms at all, AID
the consequent application Of tho principle CT
the rule that halt loafis better than no bread,
is question the correct answer to which should
have 60 irfuaros upon thcss to whom the terms
arc proposed. The matter for them to decide
is could they az honorable aad reasonable meu,
having their own and the present aud future
welfare o. their State at heart, have offered to
them terms that could possibly bs more leDicut
save ouly ct the expose of the deserved loss of
the we'll merited honor and the justiiab!e pride
that have distinguished Virginia from the days
of her Cavalier ancestors down to the present
time? 1t is unnecessary to say that they could
not, aud that being so the sooner they pass the
bill the better it will be for them, the State, and
those 10 whose interests many OF their former
actions would lead az impartial observer to sup.
pose they never give passing though!-their
unfortunate constituents.