The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-03-20
yIIc State Debt.

We had expected to be able by this time
| to state that this reXed question bSd been
settled, and no doubt, but for the tfr1hnster-
ing and killing Of time during the last few
DAYS OF the session, settlement would have
been reached, which, il it had not proved
entirely satisfactory, would have lett the
State in a better condition than it now is,
/ for. as business matter. it would surely be
more advantageous TO the State to have its
interest reduced to three per cent. than to
leave it at six per cent.
AS we have stated heretofore, there are
some features in the bill for adjustment OF
the debt, as passed by the Senate, which do
not meet our approbation-as, for instance,
the coupon feature. But that Objectionable
feature is already upon US, and we arc un-
able 10 devise remedy by which we can
get rid OF it; nor have we seeu any one else
who is able to institute and carry into exc
cution, or 10 make available, & suitable rem
edy. isis - = .s..,--.
II this were an original proposition, or
one Just now inauguiating such feature
as the taY-receiyable coupon. we should OPP
pose it with all the power and influence we
could bring into requisition, as our paper
did the funding bill OF 1871, when it was
before the Legislature, chiefly on account
interest that accrued during the war and re-
construction. That is IN abominabIe Tea.
ture. But it was inaugurated in the funding
bill, and it is upon Us. No doubt large num-
Der OF the members Of the present Legislature
would oppose the present bill rs an original
one, but in view Of the force Of circum-
stances, and their inability to supply rem
edy, they support the bill as the most avail
able way OF securing reputation or palia-
ton in accordance with the Conservative
platform which was adopted in the Conyen-
ton held in Richmond to nominate Il candi-
| date for Governor, and which demanded q
readiustment o. The State debt upon the ba-
ais Of the present revenues, doing equal
| Justice TO all classes OF creditors.
We hardly think that the idea occurred to
the members Of that convention ut that
time that the coupon feature could or
| would be expunged from the law, in the re.
adjustment OF the debt. It seems to be an
aiter-thought, especially as the present bill
| appears to offer as great reduction rs the
most jealous reidiusters anticipated or de-
| handed. .-,'.sr.....: q .Ea#;3 49,
Now, whilst this proposition for settle.
| ment is not all that we would like to Sec
we are in a condition somewhat like The
fellow that had corns on his feet he said
be could not get them entirely out, and
hence he would have to be satisfied with
pairing them rs closely rs he could've may
| find it more advantageous to submit to the
pairing. The proposition for settlement
is surely more favorable to the State than
was the Barbour bill, and the readjusters
| generally favored that bill. It becomes lis
TO pay what we justly owe, and no more
Anything else would be unmanly and dis.
honest; and as facts cannot always be as.
certained, with absolute accuracy, there
must be In such cases disposition! to com.
promise.
Now, rs the Governor has convened the
Legislature tiu'f extra session, It is to be
hoped that every fair and honorable effort
will be- made to settle the matter. Itmigha
asweii be doTe now'By this Legislature as
thereafter by anpthsf one. SeThb facts areal
before them. They haye,haaftme 70 inSes