The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-10-30
he reviewed the history Of the debt

eoncisely be reviewed the history OF the debt
through all its various stages, and clearly
and conclusively met the points made by
Mr.. Allen against the coupon and non taxa
bic features OF the bill. The measure, he
said, could not be repealed rs long as the
decision of the U. s. Courts required States,
as well as individuals, to maintain the obi
CATION of contracts, but the difficulty to be
apprehended, should a majority Of the re-
pealers be elected, was that it would retard,
If not entirely put an end to the funding, as
the bondholders would be unwilling to
change the character OF their investments in
the face OF the danger with which they
would be threatened. Throughout Maj.
Hangers speech was straightforward, bold,
practical aud to the point, and made good
Impression.
The last speaker was SEMI Echols. Two
years ago, he said, when sickness made it
impossible for him to make canvass of the
county, the people OF Augusta had taken him
on trust. He believed then, and SO stated,
that if the creditors were met in spirit OF
Cancellation, readjustment of the debt
upon four per cent. basis could be effected
and the State placed in position to meet
its obligations. 70 that end lie had worked
faithfully, ADD the result SO ardently desir
bill.s Under the successful operations OF that
measure new day would dawn for Virginia,
| and she would go forward with giant strides.
One Of the greatest benefits resulting from
it would be the prosperity OF the public
schools, aud he believed that If aught vas
done to disturb 1t, the schools would suffer
far more than any other interest. The de-
| ficiencies OF late years have been most seri-
ously felt by the schools and the reason is
plain. In the first place, the coupons being
self collecting, secure the interest on the debt.
In the second place. the expenses of the
government must be paid, for there has
never yet been lie gislature so patriotic that
| its members declined to take from tine treas.
| account &c., and so it comes to pass that.
when deficiency exists, the schools are
made to bear it. 1t was like man trying
to cover his body with blanket that was
too short for the purpose. If he wrapped
! it around his shoulders, the feet would be
exposed, and il he covered the feet, the
shoulders were bare.
After reviewing the history of the debt
| from its inception, Gen'l Echols compared
the condition Of the State under the McCul-
| loch bill with that which would result should
chat measure be repeated, and struck the
| key note of the campaign by asking If there
was single man in the audience who would
not, two years ago, have jumped at the
| proposition to settle the debt upon four
| per cent. basis.
In closing, the speaker made an impressive
appeal to the audience and urged his colored
| hearers to come forward and help maintain
the States integrity, and when he took his
seat the most generous applause Of the
evening was accorded him.
Mr.. VanLear was present. but made no
address.
OF course. we have not attempted to give
even an outline Of the speeches Of either of
the gentlemen. The subject upon which
they spoke has been so exhaustively treated,
that there are few persons ia the county
who are not familiar with 1t and to whom its
repetition wouid not be as an oft told tale.
We sincerely hope that after next week the
subject will be done with forever.