The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-02-27
THE VIRGINIA READJUSTERs.
Result of the Richmond C0nventiOn-An
Address to the People.

RICHMOND, Feb. 26-At the Readjusters'
Convention, Mt last nights session, the com
mittce on business submitted a report In the
form Of an address to the people OF virginia,
reviewing the course of the Readiusters dur
ing the past few years to effect a settlement
of the dent, setting forth the condition of the
fiscal affairs OF the State, and expressing a
willingness to do every thing reasonable look
ing to final settlement, etc. The address con-
cudes with series OF declarations to the
effect:
l. That Virginia fully recognizes her just
liability for her fair proportion OF the public
debt contracted before her territory was
divided.
q That Virginia can never recognize liabl.
ity for that portion of the debt whcn should
attach to West Virginia.
g. That in any settlement with the State s
creditors, the annual interest OF the recOg-
niZed Indebtedness must be brought within
her revenues under the present rate OF taxa
ton.
A. That the capacity of these revenues to
meet such interest must be determined by de-
ducting therefrom the necessary expenses
of the government, the apportionnent to
schools, and reasonable appropriations for
the support OF the charitable institutions OF
the State.
s. That these limitations should be carefully
ascertained and guarded, SO as TO IN no event
allow the primary obligations OF the govern
ment and people to be subordinated to any
other demands whatever
g. That settlement within the limitation
designated Is the utmost stretch OF the peo-
ple's ability to pay and should be satisfactory
to the creditor as the furtheSt exactlon he can
fairly insist on.
Z. That any settlement to be final, must rest
upon the sovereignty OF the State and find it's
best security in the good will, good faith and
honor of the people Of Virginia.
8. That the sovereignty OF the State can
not be pledged nor delegated, except for
public service, and when 50 pledged or dele
gated is at any time revocable by the Leg1sla-
ture.
9. That any self-executing lien upon public
revenues, such as is given by taxreceivable
coupons, is against public policy and degrad-
ing to the State and people.
10. That no discrimination between credt-
tors can be made or sanctioned by the State,
in any readiustment that may be consum-
mated.
H. That Virginia should deal directly and
frankly with her creditors, and should never
place either their claims or her eyenueS and
obligations in the hands Of inter mediaries
who are not completely under her control and
direction.
12 That all exemptions from taxation not
| authorized by the constitution are intolerable
and cannot be afforded in the present condl-
| ton of the States finances.
| 49, That the rate OF taxation Is as high as
can be borne, and instead Of entering into an
undertaking that may necessitate an increase
| of taxation, diminutiOn in public burdens
| should be provided for.
II. That public free schools should be pro
| tected and sustained to the fullest extent:
To- That reform and economy should be
energetically pressed in the administration
Of affairs OF State and country
16 That full recognition OF these principles
and declarations by the peopleof Virginia anc
her creditors is absolutely essential to any
amicabe readjustment, and no readlustmen'
In which they or any Of them shall have been
negle tied can be final, certain and sat1sIac