The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-08-09

voted upon the bill 80 opposed and only
sustained it. No commentary on these
plain figures Is needed TO prove that II
was the Conservative party, acting through
their chosen delegates, which introduced.
shaped, and Carried through this grea. bill
OF peace. AS might he ex xpected in sbaning
the features OF the bill, there were conflicts
OF Judgment among these true and faithful
Conservatives; but they exhibited pa
triotism sufficient to yield their personal
views and compose their differences in or
der to accomplish great public good. For
this benefcent public service, fellow:Con-
ed, your organization repudiateh," and
your authority defed by a faction who show
no claim to your countenance or support.
TIE MOZART AGITAToRs. r.
In the midst OF tue labors OF; this Legisla-
turc, when every patriotic member was
earnestly striving to effect a, beneficial set
tlement, this faction appeared. Under 4
call for caucus OF all the opponents OF the
McCulloch bill, convention composed of
Independents and Republicans assembled
at Mozart Hall, in Richmond, on the 25th
February, 1879, and proceeded to organize
q new party, with Il complete party ma
chinery, outside or the Conservative organ
call themselves ".readiustcrs,"a without
waiting for the result OF any amendments
or notifications to the bill then pending in
the Legislature, proclaimed their hostility
to it. and avowed their purpose oil this sim
gle issue to set up riVul and competing
party organization throughout Virginia,
pledged to resist the McCulloch bill, no
matter by what imposing weight of Conser-
vative judgment the bill should be passed.
They openly invited into their organization
recruits from all sources. They tried to in
ducc Republicans to join them, but they
have had only small success in this.
They resisted every remonstrance and
appeal to fOrbear from sowing di.cord
in the Conservative ranks. and to yield,
a. loyal and reasonable minority should
always yield, to the expressed Judgment and
will OF an overwhelming majority OF the
party whose name they claim to wear. Deaf
to all such appeals they dttied the counsels
OF the Conservatives and went on with their
Ill i,organiZing work OF setting up new po-
lltical parry with rival and conflicting claims
and candldltcs to those OF the Conservative
party. From the day OF their doing> in
February to the present hour this faction
has steadily prosecuted their political and
personal designs, until now, without dis
gnlse, they are working the machinery OF
an Independent party all over Virginia; are
calling conventions to put their candidates
for the Legislature in the field, and are seek
ing to fill all branches OF the State Govern
ment with persons nominated and 10 be
elected under their party machinery. There
can be no denial to the plain inference from
all these doingS: that this faction is seeking
to rule or ruin tue Conservative party. II
| they succeed in their plans the disruption
and downfall Of our party is inevitable.
HOW TO DEAL WITH TIE AGITATORS.
No clearer duty could be imposed upon
us as a committee charged with maintaining
the organization and Yindicating the prin-
ciples and policy ef our party than TO in
woke Conservatives in every county and
! town TO brand with their Reproduction these
! factionists, and their schemes to erect 4
new party upon the ruins OF Conservatism
in Virginia. The leaders OF this party
make but one pretencc for their disorgan.
izing and destructive course. They pro
iess but one policy-viz., the repeal OF The
debt settlement. Yet most OF their con
spicuous leaders approved legislative mea
sures to settle the debt, which, il carried
out, would have left heavier burdens OIL
the people than will be borne under the
provisions OF the McCulloch bill. Many
OF them supported the Barbour bill y
as members OF the Legislature. Thi;
bill provided for as large a tax or
property as will be imposed by th
McCulIoch bil-viz., fifty cents upor
the hundred dollars. Yet it obtained III
release to the people from the principal o.
interest stipulated in the bonds, and LEFT th'
accumulation OF the unpaid part OF the
per cent. interest to swell! up in annual de
tictS of nearly million dollars. On The
other hand, by the McCulloch bill, the ere
0itors agree to reduce The rate OF interest t
4 limit which we have shown will enabl
the State to pay of all the interest accruin!
each year. The Barbour bill required th'
farmers, because they owned properly, Z
pay up in cash thiriy-tiye cents on the hua
dred dollars of their property, and allowed
the liccnse-taXes OF merchants and profes
Siona men, &C., TO be paid in coupons
| There is no discrimination among tlx-pay
els in the McCulloch bill. ...
THE CRY ABOUT COUPONS.
The readjusters" cry out against th,
COUPON feature OF the McCulIoch bill. They
declaim against what they style the degrade
tion and insult to Virginia inflicted by
the coupons. The demagogry OF this il
transparent. Which is more consistent witt
| the peace, prosperity, and honor OF Nir
einia, to accept the McCulloch settlement
whereby the creditors agree to reduce the an
nual burden OF interest so that the coupons
for interest when paid at the Treasury vii
| still leave enough money TO meet the eX
penScs OF government and maintain the
schools, or to listen to counsellers who re-
iect such an offer and propose to leave Flr-
riniu still bound with the Shackles OF cou
| pops for largely more than the amount i'm
n0sed bv the McCuIloch bill, leaving hel
bound for annual deficits which swell year
| by wear and disable her from maintaining
| her public schools, and deluding her peo-
| pie with the reckless assertion that she can
maintain her prosperity, peace, and fail
name, and get rid OF her debt, by defy!nS
the solemn action OF her Legislatures and
courts, by dcnouncing her creditors, ana by
setting up 4 revolutionary government tc
reDUdiate her solemn contracts!
These opponents OF the debt settlement
make large drafts upon what they presume
to be popular ignorance in other assaults
upon the McCuloch bill. They invclgt
against the exemption Of the bonds from
taxation. The creditors agree TO surrender
nearly million Of dollars Il year OF annua
| interest for ten years, and nearly six hun
dred thousand for the next twenty years
1t is we'll known that only about ten mil
lions OF the bonds are held in Virginia
These only are taxable by Virginia, under
a recent decision of the Supreme Court ol
the United States, and must be taxed al
their market value. Virginia therefore
practically surrenders tax amounting tc
about twenty-five thousand dollars in set
tlement by which the creditors surrender
the above large amounts. Yet some OF tnt