Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1879-07-29
Result Of the .sBrokers BILL"

Result OF the ssBr0kers Bill"
The Richmond State thus succinctly
'ums up the beneficial results growing
'ut of the passage of the debt settlement
dill. Read them, remember them, and
hen imagine, if you can, what good is
% be accomplished by its repeal:
81. The existing debt is, in round
numbers, thirty millions OF dollars.
The interest on that debt at six per
cent, the amount for which we were
bound when the Funding bill was pass
ed, would in forty years aggregate
million of dollars. Under
The Funding act we shall have to pay
in forty years forty-eight millions of
dollars-a saving to us and our children
of Twentv-four millions of dollars.
2. The repeal of the Funding act of
March 30th, 1871, introduced serious
confusion and gross inequality in the
relation of the State to its several credit
ors. During the debates of the last
session the changes were rung upon this
and confusion by the Read
)usters, ''forcible AID feeble, !" as though
they were not directly and solely res.
ponsible for it. But whoever is accoun-
table for it, the present bill ends it. It
places all creditors on the same footing
if accepted. It reduces the whole debt
to one category. It prevents all specu-
lation within or without the State Gov
eminent in the evidences of the public
debt, BASED on the differences In value
of bonds which represent the same la-
bility.
3. It will complete the exfoliation of
the West Virginia debt from the in
debtedness proper Of Virginia, and ope-
rate complete release Of the Common
wealth from all pretence of liability for
the third thus set apart.
4. It releases the State from one-half
of all due and unpaid interest, and
postpones for forty years the payment
of the other half, meanwhile paying a
low rate of interest on the bond into
which it is funded.
Such are the main business results,
the financial outcome of this measure.
It's political results, Though immeasu-
rable in dollars and cents, are only less
important, possibly not less valuable.
It gives the champion demagoguism
of Virginia mortal thrust. 1t ends
the occupation of those tender hearted
guardians of the dear people one OF
whom, most conspicuous for his tears
over their impoverishment, was but the
other day buttoning his pocket over an
annual salary from bankrupt road ex-
ceeding -fortieth of the entire inte-
terest we shall have to pay on the whole
debt!
1t makes it as certain as anything in
the future that the present rate of taxa
ton will not be Increased. It saves the
public schools without dishonOring the
State.
Already happy omens accompany it's
progress. The first month of its active
operation has not yet passed, and the
welcome announcements are already
heard that interest in cash has been
paid again at Virginia's treasury, and a
cash quota for the public schools is
again ready!"
A MAN ALMOST DEvoURED BY A
BEAR.-We have received some vague
and indefinite particulars of a frightful
occurrence on the Dry Fork of Cheat
1t seems that one day week or two age
man, whose name we are unable to
learn, went hunting and found a beal
with cub or two. The evidence goes
to show that he caught one of the cubs,
tied it to tree, and while engaged in
this the old one attacked him and tore
him to pieces, almost devouring him
The man not coming home at the proper
time, party went in search of him anC
found his mangled remains near tree
around which was piece Of rope. Fol
lowing further, the bear and her. cut
were found and despatched, the cut
still having the rope around its neck
thus establishing the theory advanced
above Randolph County Enterprise.
SENSATION IN A SOUTHERN CHURCH
| ATLANTA, Ga, July 22-There was
somewhat of a sensation in Trinity, thu
most fashionable church in the city, or
| Sunday. Governor Colquitt was t.
preach, and the church was crowded
The Governors's colored coachman CAM
| to the door and asked for seat in th'
gallery. The gallery was locked, anG
the usher escorted him to front pew
in the church. This was the first tim'
a colored person ever sat there, aud th'
incident created a sensation in the CT
ty, though nobody seems to object.
Thursday, whilst Mr.. Frank Farisl
was threshing his wheat crop, the straw
caught fire and destroyed about 60
bushels of wheat. The thresher, be
longing to Mr.. Marshall, was also de