The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-08-14

ty. If they succeed in their plaus the disruption
and downfall of our party is inevitable.
HOW TO DEAL WITH THE AGITAToRs.
No clearer duty could be imposed upon us as a
committee charged with maintaining the organl-
cation and vindicating the principles ana poncy OF
our party than to invoke conservatives ~ every
county and town to brand with their re rotation
these factionists, and their schemes to erect q
new part upon the ruins of Conservatism in Vlr-
ginia. The leaders of this party make but one
pretense TO r their disorganizng and destructive
course. They profess but one policy-vlz: the
cons picuous leaders approved legislative meas
to settle the debt, which,if carried ut,would
have left heavier burdens on the people IMAM
will be borne under the provisions OF the McCul-
loch bill. NJ my of them supported the barbour
biil' as member of the Legislature This bill
provided for as large tax on property as VIII De
imposed by the McCulloch bill viz fifty cents
upon the one hundred dollars Yet IL OBTAINED
no release to the people from the principal or in
terest Stipulated in the bonds, and left the
mutation Of the unpaid part OF the SIX per cent.
interest to swell up in annual deficits to nearly
million dollars. On the other hand, by the McCul
och bill the creditors agree to reduce the rate of
interest to a limit which we have shown Will era
Bile the State to pay off all the interest accruing
each year. The Barbour bill required the farm
ers, because they owned property, TO pay up III
their property. and allowed the license taxes OF
merchants and professional men. &c TO De PAD
in coupons There is no DISQUALIFICATION among
taxi ayers in the McCnlioch bill.
THE CRY ABOUT COUPONS.
The .'readjusters'' cry out against the coupon
feature of the McCulloch bill. They deca1m
against what they style me degradation ana mn, m
demagoguery of this is transparent. Which Is
more consistent with the peace, prosperity, and
honor OF Virginia. to accept the McCulloch settle
nient, Whereby the creditors agree to reduce the
annual burden of interest SO that the coupons for
interest when paid the Treasury will still leave
enoue b money to meet the expenses of govern
ment and maintain the schools, or to listen TO
counselors who reject such an offer and propose
to leave Virginia still bound with the ShaekleS OF
coupons for largely more than the amount M
posed by McCuiloch bill, leaving her hound for
diSo-
BILE her from maintaining her public schools. and
deluding her people with the reckle IS assertion
that she maintain her prosperity peace, and
fair name and get rid of her debt, by defying the
solemn action OF her Legislatures and courts, by
denouncing her creditors, and by setting u p a
revolutionary government TO fepuolaUe nef Sol
eii,n contracts
These opponents of the debt settlement make
large drafts upon what they presume TO be popu-
Jar ignorance in other assaults upon the McCuI-
ioch bill They inveish against the exemption Of
The bonds from taxation. The creditors agree to
stirrende nearly a million dollars year uf annu-
al interest for ten years and nearly SIX hundred
thousand for the next twenty years It is we'll
known that only about ten millions OF the bonds
are held in Virginia. I hese only are taxable by
Virginia. under recent decision OF the Supreme
Court of The United States, and must be taxed at
their market value Virginia theref Pc practice
ally surrenders tax amoun' in g 10 about twenty
five thousand dollars in a settlement by which the
creditors surrender the above large amounts
Yet some OF the chief ofsaid opponents who thus
seek 10 imposeon the people actually voted for
the Bocock-Fowler bill, which equally exempted
the bonds from taxation.
WHAT CONES IF THE SETTLEMENT Is REPEALED.
These ayitators Tor repeal TAIL to tell the people
what they can do for their benefit in case the set
tlement is destroyed They fail to tell the people
that il destroyed it will place back again on their
shoulders the entire burden of the old funding
bill of 1911; that the people become bound again
for ten years for upwards OF nine hundred thous-
aud dollars of yearly interest more than they are
bound for under the settlement, and for the next
twenty years for Upwards OF six hundred thous
and more. When they are challenged to explain
how this will bring relief to the peop they meet
thu dilemma by advising that Virginia can throw
off her debt by revolution: They promise to heip
Virginia by inviting her to try the desperate eX-
pedient of repudiating her solemn contracts, OF
contempt for the decisions of her own courts. and
they boldly avow that they intend in the last eA-
tremify, to overthrow the existing State Govern
ment, concealing from the people that even after
a II such revolutionary proceedings, Virginia VIII
stand confronted by the IRENE Conrt OF the
United States and its unbroken line OF decisions.
They fail to tell the people that any such desper
policy will entail on Virginia fresh and afiiict
ing losses in the value Of all property the pros
tration OF all industries, and destroy all hope for
a revival of her material welfare II is certain
that man will bring his capital, rift. or
skill into Virginia when she prociams herself
bankrupt i'll means and character.
CONCLUSION.
Happily for Conservatism and for Virginia, we
make our appeals for safety from these evils to a
people loving honor. cherishing the right, proud
of their word and their traditions. and anxious
for peace. The path of duty is clear. Maintain |
everywhere your organization. Its mission is not /
ended. Fill vacancies according to your eStab- !
Iisheu forms. Select good and true men as can |
didates and put them in the field Stand by your |
pledges of 1871. Force those who seek your suf- |
frayes to disclose, as you have the right to do,
their relations TO this faction which assails your
party. Make your canvass as you have always