Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1879-10-15
The Public Meeting.

THEIR VIEWS lfVNAhN NA~
ELEMENT.
The discussion was opened by u. =
Henkel, Esq. candidate for the State Sen
ate. who said take It for granted lhal
there are no regulators, that you are
all willing to pay your honest debt Il
YOU ascertain what it IS. Elimination
of war and reconstruction interest IS The
strong point with my opponents. 80
far as the equities are concerned, 1 GO
not say you ought to pay war interest,"
If YOU have a settlement, whichis equiv
alent to the elimination Of war and re-
construction interest, as the McCulloeh |
bills, why object? If war and recon-
slruction interest IS cut Of, the debt
would be 500, 600. 900 at 6 per cent. IL
terest. Six rer cent. on $4,000, 600,
is sl3, 100000. Three per cent. on s55.'
100000 is 100000 a year. The period
never would arrive when the interest |
under the McCullcch bill would be over
sl,2OO,OOO.
Sit is said that YOU ought to have sol-
ten rid of The taX-recelyable COUPON
As an original proposition, L never
would have voted for this feature. I'll
is proposed TO call a convention aud re-
model the courts. Tennessee tried ltand
the de cision of ell her state courts was
reversed by the Supreme Court OF the
United States. How are you going to
do it? No means have as yet been de-
yised and no meaus can be devised. II |
is said that this IS TO be a gold debt
There i. not one word in the settlement
making It a debt payable IN gold. It's
said that this is a perpetual contract
with McCulloch & Co. l don't think
there are many lawyers who would put
that construction upon it. If this is to
be a gold debt, why do they not fund IN !
bonds bearing interest in sold? Unless |
they take advantage while the funding /
is goingon, they lose the opportunity
By advocating the repeal ofall contracts
they do too much. You hold your home |
under a contract with the Legislature OF
Va. You prove that your Legislature
can repeal contracts, you prove that the
title to your property can be taken
away whenever the people Of Virginia
may vote to divide property.
After all has been said, what do they
propose as a substitute for this settle.
ment?
The Auditor, the book-keeper Of tic
State says the revenues Of The state,
under this settlement. will be sufficient
TO paw interest upon the public debt,
state expenses and run your public
schools. The Treasurer, Cd Auditor
and Attorney General concur ID .his
opinion.
What DO these gentlemen propose
say if these gentlemen have some
thing better. I will pull down my flag
and fight with them, but until they can
do so, 1 must cling TO the settlement
which we have made. In this grand
old ship Of state, we have found spar
to which we cling, and when they ask
us to let 90 the spar, we ask them to
show US a life boat. Until something
better than this bill is offered, they
have no right to ask YOU to follow them.
have endeayored TO show you that we
have settled this debt in accordance
with the demands OF the platform OF the
conservative party.
have shown you that we have done
better than eliminate war and recon-
struction interest. 1t cost Mississippi
more to repudiate her debt than pay 1t.
1t will cost YOU more.
Mr.. Henkel was followed by
II. II. RIDDLEBERGER.
Mr.. r. said, have been in this can
yass for three or four weeks. but tn S
is the first time l have seen Fir. Henkcl
father his own bantlings before this
audience. These gentlemen undertook
TO present this question, l am in tins
canvass. because l differ with these
gentlemen. The first proposition that
nv friend starts out with is that the
question has been settled and taken out
Of politics. l could afford 10 let it re
main out. Have you ever known any
proposition that has not been agiIa'ed {?
I aoitate it. because this is The only
wav it can be ag;tated. will show
YOU why they don't want 1t asiiated.
I saw the private and confidential bill
sent from New York. Why could they
not have let il come before the people
and lave it discussed?
They passed it and they now say il
;s an mrepealable contract. II it is 1
say to these gentlemeu,they deserve not
the votes OF the people but their deepest
execration.
Two years ago, Won could not make
an irrrepealablc contract. Now these
gentlemen say that state can make an
irrepealable contract. l say she can
not and she will not. How is it to be
done? 1 say by the sovereign will Of
the people. You ask me, Low will you
get rid oft? | ask you, how will you
enforce it? The state may make a
contract every year and there may be
no law TO enforce il, The Tennessee
case amoxnts to this : the Slate made
money before the war. receivable 10
B payment Of debts, &c. and the Supreme
I. Court sdeclGed that she should receive
it. -Four out Of nine judges dissentcd
from the decision. Every state IN the
South has readjusted her debt and