Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1879-03-25
AUGUSTA ALL RIGHT.

IN FAVOR OF SETTLEMENT.
There was large meeting of the people of the
county yesterday at the Courthouse to give
expression to their views upon the question OF
the proposed compromise of the State DEBIT
By invitation Hon. j. v. Brooke, ST.. senator
from Fauquier, and Hon. Archer A. Phlegar'
Senator from Montgomery, were present TO ao-
dress the people. Hon. Absalom Kolner was
also present.
At II o'clock the courtroom was crowded by
representative men from all parts OF Inc couh-
ty. and the meeting was called to order by DR..
w. 1. Stout. Capt. Thornton Berry was calleo
to the chair and the representatives OF the Yin
dictator and SPECTATOR appointed Secretaries.
In response TO query from Col. ]. L. Peyton
as to the object of the meeting, the chairman,
Capt. Thornton Berry, replied that it was a
meeting of the people of Augusta TO give ex-
preston to their views upon the much vexed
question of the State debt and the acceptance
of the Compromise bill. He said that he was
one of the original readjusters, not. however,
for the purpose OF reputation, but for settle
ment, and that now he was in favor of accept
ing the proposition offered.
Upon motion of Col J. L. Peyton. the chair
man appointed the following committee, con-
sisting of two from each District of the county
and two from each Ward of the city, to draft
resolutions
Middle Riuer-John II. Crawford, Samuel h.
NcCue.
South RiUer-C. B. Koiner, Davis S. Bell
Riuerheads-Wm. F. Smith. A. A. Sproul.
North River-Saml A. East, VIM. H. Gam
bill.
Beverly Manor-Jno. N. Opie, c. T. Palmer
P1stureS-JOhn s. CIV H r. Seig.
Staunton- Ward NO. IA. H. H. Stuart, n. A.
Kayser; Ward No. 2-Wm. A. Burke, F. M.
Young.
During the retirement of the committee
speeches were made by Messrs. ]. " Brooke,
ST.. and A. A. Phlegar.
Mr.. Brooke briefly reviewed the circum-
stances under which the debt of Virginia was
contracted, and the legislation after the war
which eliminated in the Funding Bill. He
was not here to support the Funding Bill, for
he thought it a very unwise act and he had al
ways spoken against it until 1t was declared
binding and constitutional by the Supreme
Court of the State.
He briefly reviewed the present financial con-
dition of the State and showed that unless some
thing was done she would soon he forced into
reputation. He had waited for years TO hear
some proposition from the forcible cad usters
| to relieve the dire distress of the State, but
| they had made none except the Barbour Bill
| which had already been declared unconstitu-
tional by the Supreme Court Of Appeals Of
Virginia.
He thought the Barbour Bill good one, if il
were practicable, but it was not on account OF
| its unconstitutionality. He believed there
were some few agitators who, if the debt were
settled at one per cent. interest and no cou-
pons, would be the most unhappy men in the
State.
| What the State needs is a fair, peaceable
| settlement and that is offered by what many
choose to call the Brokers' Bill. He spoke OF
the previous efforts made in this direction, and
| in speaking of the Bocock-Fowler Bill said
| that those who urged its adoption were now
opposing the proposed adjustment.
The present proposition is fair and liberal,
and is made In good faith. He argued ably and
clearly to show that its adoption would bring
the debt within the present revenues of the
State. We have not the space to follow him
through his calculations but he maintained
that it would leave the State surplus of
$500, 900 after running the Government, sup
porting the Public Schools and paying the in
.erest on the debt.
He pictured in glowing terms the future
prosperity of onr State, when once she is freed
from the demagogical agitation of this debt
question.
l. The extreme Readjusters' cry of coupon, cou
pom, reminded him of Poe's Raven, which had
learned only one word. But this cry is as un-
availing as monotonous for we are already
bound to pay coupons amounting to 81 200 600,
| and the proposed bill will save us $500 900.
He urged the people to heed the advice of
| McCullogh to stop talking about the debt, and
cease to depreciate the resources of the State.
Hon. A. A. Phlegar took the stand and deliv-
| cred very able and interesting speech in ia
vor of adopting the compromise bill, inter-
spersed with well told:and apropos anecdotes.
We deem it unnecessary to give any extended
| sketch of his remarks, for just at this writing
we are in receipt of telegram from Richmond
announcing the passage of the bill he so ably
advocated. He made fine impression on the
| audience and was frequently greeted with
| hearty applause.
He argued that the present bill puts the debt
on basis of an average of per cent for 40
years and is more favorable than the Barbour
Bill, which would cost the State s3OO,OO more
than the bill proposed, and yet the forcible
readjusters oppose the former and favored the
latter.
He claimed that Virginia could not afford to
government could exist without credit. He
cited in illustration the of Mississippi and
the great injury done to the credit of the U. s.
Government at that time by the reputation
of single State.
If the State of Virginia had been without
| credit before the war, Staunton to- day would
be without any railroads or other public i'm
provements. 1t was the credit of the State
| that. had built up Staunton to her present high
prosperity.
He had made an examination to find out how
| much the people of Augusta county paid per
capita towards the State debt, and found it
amounted to sl.l0, and that is all that would be
saved to this county per capita should the State
debt be entirely repudiated.
He depicted in strong terms the great loss
our people would suffer in their business trans
actions should the State debt be repudiated.
He favored a readjustment Of the debt be-
cause of the loss of property the State had suf-
fered, but we should measure with the rod of
not how much we get rid of, but of how
much we can pay.
Forcible REIMBURSEMENT is wrong, for it strikes
at the very foundation of all government.
which, as the Senator from Augusta has said,
should be founded on the Decalogue.
AThere is, however, no necessity for forcible re-
adjustment, IOf the compromise offered US Is
better than we ever expected, and better than
the forcible readjusters ever asked.
He claimed that the chief end of readjuster
was to go to Congress.
He ably rebutted the reasons assigned by the
Mozart convention for not accepting the COM
promise bill.
The passage of the bill, however, will not end
the fight, for those extreme readjusters are so
greedy for Office that they will not cease to
seek it on this hobby.
S. Brown Allen was then called on, and made
one of his characteristic speeches in opposition
| to the passage of the compromise bill. He said
it contained all of the Objectionable features Of
| the Funding Bill, and he for one would vote
against any resolution endorsing its passage
In response to question as to how he pro-
posed to settle the debt, he said he was in favor
| of the Barbour Bill.
| THE following resolutions were then offered
| and adopted by vote of more than ten to one
4 We, the people of Augusta County, having
| anXiously watched the action of the Legislature
| upon the Debt COMPROMISE Bill during its late
| regular session and feeling deep disappointment
| that the public debt Of Virginia. was not then
| finally settled-recogniziEg the fact that the
| continued agitation of this question is driving
capital from our midst, stagnating all bran hes
1 I1cir fa%fr