Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-12-04
E1E. S5ssSEs.HasN'S vi k:i+is ssisfo
COMMONWEALTH nF VIRGINIA.
G0VERNon' OFFICE. 7
p1cI1Mnnn VA Dnn . 1871
RIrrNfnEn Y A

GcnHeD,cu Of the SfHdfc dHd H"HSc ~ Defc'
gates
The last General Assembly pLs,d a bill r.
latng to the tuadlrg ii tie Stute dsb', @ildi
became IL law. Ptnhrrs IT. ~ sage It Trr 'ven |
full aud clrslu! III eua-io,. a,1 "rs Irvhrlri a.
fair and sucab!c 5 nc ul,it bgt%riD ihe
Stst, and her cr,I,is. t., ;"I.r eli li';r' q
both branches gInr hih"faIir n.'''f. |
Before The expiration Vt ti,r in'r as limited
hv the 5th s.clitn 81 IL iag. the tOlucil OF
Foreign BJndh"ldeIi and the fundinE hhao-
citation CT the UaitoJ States ri America filed
their assent and acceptarc, vi Tho terms Ct tue
act it became a c)nlr;c: b. twccn them aud tho
State. aad the Gcvcrro: as ordered therein,
provided Tor The preparation Of the boudE.
So soon IS poSst, thereafter, the iGnliog
began, ana plpg!c scd ra, !lG uGdcr Tic ccndl
tions Ct tho law. In Is lit |, Will, agitation
was commenced, lOokiog 10 lis repeal. which,
OF COURSE had icadcpcy 10 check tho bring
ing 10 Of The old bnnds-thG holders bnlDg do
tered from 50 dol by this threatened repeal.
NotHithst an6ng Ibis agitation, however, they
came 10 lu.h Numbers 81 10 exceed tic LEGAL
requirements. GivIrg Indication i. not iull
proof, Of tbs ultimate SUCCESS Of tho schcUc.
| By the Limitations & the law, eight millions
| wcro to have tcrn presented 10 specified kinds
| and proportions prior TO the tiia. day Ct JAM
uayy. 1850 that aGiount was reached before
| tho frat dsy of Ootohef, 1879. and the amount
now is IS, 4gl, SCI, 81. 10 spite ct tic Obstacles
| 10 which havo referred.
| As already stated, this measure rco,i7cd the
crevtst consideration mud the most thorough
| di custom by yGur prcdtc,Es 0ls, gcntlnmcn Wro
had tic ability to comprehend and the mcens
| Of knowing tho fac S relating to aad the merits
| OF the qutstlor; and both those who called
| themselves or we're called dt bt payers and re-
sdiusttrs ty aret vote. utlted upoa it IS O
iu.t ard equitable settlement. aud it vas 20 re-
! ga1dcd AID +, ceg,d by The Solli. shall,
| thu r-iurc, not consume tmo by lchcbr;itg the
history If the c,l.iu and growth AID tomIlo
| non of his settle mcnt, save that it SGs made
10 mia Il at!r lang cobiercrcT, and tho best
evidence tEat it net the approval OF The cr,di
| tors is the iao tbs! they nave accepted its pho.
vlsiors with CT, slcr iGI i.i!y than was con;cm
plated by the Goneral Assembly when they
we're adopted, lnd tho iprther fec, That we
hear DO protest from them at home or abroad.
| So lar as can gather tho outside world re-
garded it ss. uadcr the circumstances, fair aud
rcusouablc end Such So would 10 20 way im-
picge upon tic homer OF tho State, which pts
d matter of vital iriport 10 a1y settlement ne
might MAKE, if We would preserve Vireiuia's
place among The n.lors oil The cath.
Agreeable 10 Il c creditor approved by The
oplniCu II the verdi Why should it not be az
copied by tbs p9GIle o! the State ss 10 every
| way . desirable conclusion & 0 question whose
| tgtatltn hDa cost lar more than tho whOlu W d
Involved to the material interests CT the Com
monweeIIh My views urc very rlrar aud dc
old, i, and have been frequently officially tx.
pressed that the money repre- seuteG 10 tho in.
tcrest or oVenpli1cipal of the debt, larg, asst is,
IS Of hut little lmpo:L in comparison with tho
States credit, and that lothiug savo inability
can justify or excuse lis non payment lis
amount haa becD over AID over again ackn0wir
edged. and is consideration admitted by the
| General Assembly rtm session TO SC Sslou, and
from gear to y'aT, aud promises mado to pay il;
and people who havc in tho raat undergone
40 much ard so many thrgI 10 consideration
Ct principle, cannot allow 10 comparison slight
Old trivial lnCCnv1hicnccs to stand in tho Way
Of tho performance OF their plighcd iaitf.
And this excuse Of inability by reason of tho
Lcvastaions OF the war producing great in-
| povCrshmcnt, is at last tho iu qlamrntal argu
mcnt OF those who oppose iis payment ard
such II tho cnd 10 WE!uh all arguments havo
tended that have hitherto been made in pro
| VOuS legislatures, and 10 ono ia moro fully 40
qnalntod with lho3o itvasaiona than
am or can more honcalIy admit them yet
hear tt Hnnc who advocate tho rtduo
| ton OF tho pIchrnt rate OF taxation, all
| admitting tlLt tho people can sand that, and
onp1"lng tbs nctIlt luYnl nulnly upon tho ground
| that is terms cannot ba complied wih uDdor
tho present rates an not of those wEo he.
love that il heavier rte cinnot DO borne to
accomplish Sd grand All oil ,nt al the lnIilmnnt
| OF tho States obligation and the preservation
| OF htr credlt-GtiC cis which, in Rerubc like
| ours, far trar!c nj every private consideration:
indeed. which elevate private Considerations
| and mako lht III patiGkn Of tho strength and
virtue II ihu GoInmoLW.a ith itself. The in
VtAInGnt OF mcr; tax 5 in such CAUSE would
Yield lar greater r.VoIuo titan that Invested
Ia my WAT III which our arccGt ars ever crgapc !
ioT the slndolli>n OF tho right, both 10 the
material development / { our resources, and tho
hardy, robust and honest lr1wIh Of cur pao-
| plu'4 chati cr. ! hat innI case, however, Decd
not b. rcacricd 10 Low. With tho pttsant laws
Iropcliy enforced, the ! varucs will nett tho
r qu't' mems ct thu att aud l,gva handsome
SUI Ia IL tho trcnsniy.
Ills Waa Esacrtr'! ny ihG Auritlr priGr to
ADD alder rs vasStIr, nn:l 'fora it boEan fully
10 Wura; tXpcIcDcC has verified hin statements.
10 hn LAST nuluI l1GIsagu | had tho honor
70 submit to tho Gcncral Assembly, | showed
thnt uodcr tic Old Funding Bill there was 90
annual defer OF $40, Coz 80 -iucluding inter
est on Tho Literary Fund, GE annual deficit OF
1854 052 o.; aud that to meet his would re-
qulro an Increase of from thirty to forty oonts
on tho onn huudr;d DO lars Of property as DOW
assessed. AT tho samo lime laid before tho
Assembly sundry propositions for q settlement,
when would also haVo rtquirt d small Increase
OF tho rate of tsxatoo. These were not eccsp.
ted, but o1c WIS agreed upon embodied 10 The |
existing law which the proper officers of tho |
government and tho ooDnittoes having tho
matter In charge thought could bo carried out
with tho present revenues.
Experience, though so short timo has clap. |
sod, has verified these views. The following
tables, compiled from data furnished rom tho |
offices OF tho Auditors. will show tho DISPOSE. |
ton OF the revenues, and the condition Of the |
liuarc,s uuder the operation of tho new fund |
log law. and what that condition would b, were
it In full operation ADD its provisions c,rried |
cut according TO their meaning md infant. |