The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-02-13
ItI,nlolld isnah
ma, EgRuARY 70, 1879.
The Settlement

trha. mod if,cations OF the proposition "
,he hondhoiders 10 Virginia have been
arrced s,pop by them we are satisfied, anu.
that those notifications will be iissitsiatels
satisfactory 10 majority OF the 9enesal sAsr
ae,nf,lv We are satisfied. The failure 70 set-
{ Ill yvo,sld bring consequences that tue pond
notf,ers u,,,ss Yoresee !: consequences when 't,i
sY,o,,e cal, look upon with greater appfen men.
sion and regret than they. The settle.
paens Of the Virginia debt will have the pest
effect upon the whole South, and unquetss-
.,;enably lead 10 the arrangement and proper
disposition OF great part OF State indept'
e,lness. That would Bring order ont OF
chaos, and put financial matters 10 tram Oh
settlement that would rapidly lead 70 ta Ne
restoration OF confidence and tue ree sl 10
,;shuent OF public credit. It has come 70
fhe point a: which the public debtor anu
the public creditor are brought lace 70
4oce. satisfied OF the necessity OF o settle"
mene in which the question between them
in all its bearings shalt be considered, ana
shall be settled upon the basis OF justice
and nracticabslity combined. In no other
way can settlement be effected. The bond
holders commence with Virginia, and their
disposition towards her has been consider
ate and fair-so reasonable, indeed, that we
can hardly suppose there can be a failure in
ultimate agreement. The consequence OF
failure Will be such that, we repeat. we can
hardly think it possible that there should De
ne { SafIude ABOVE to the reasons why the
bondbolders should desire most earnestly
the success Of the settlement with Virginia.
Vel she can no less earnestly pray for this
settlement. It will bring to her peace in
all the walks Of life aud relief from that po-
Iitical agitation which has driven of order
and rest, and that calmness and freedom
from apprehension which are indispensable
to successful. industry. Worse than all
these, should the debt question remain un-
settled there will continue such condition
of things as will only lead to an increase OF
the public liability. add to the public con-
fusion, impair The order and embarrass the
administration OF the Government, and I'LL
the future OF the State with danger and ter
Tor.
Such condition OF things cannot be con-
tempIated without the deepest anxiety by
every yirginian. To avoid it should COM
mand the most powerful and devoted efforts
OF our people.
PosTsCRIpT.-The bondholders have agreed
to extend the period OF the three per cent.
interest to ten gears, as bae been desired by
many on behalf OF the State. The joint
Committee OF Finance OF the General AS
sembly had the proposition under conside-
ration yesterday evening, and it was pretty
well understood that they would report the
proposition in the shape OF the bill hereto
fore printed. with such notifications as are
consequential, and that they would, thus
reported, leave the subject to the Legisla-
ture without Recommendation. II the course
determined upon is different from this the
reader will find it properly stated in another
part Of this mornings Dispatch.
The proposition Of the creditors thus
amended should meet the approx val OF the
majority OF the Legislature. 1t will bring
Joy to every home, and give rest and con-
tcntmeut to the people Of Virginia. Such
blessing. after so many years Of distress
and anxiety, can be appreciated by none
better than the devoted people who have
known the distress-that uneXampled afflic:
ton which bowed us all down, and added
to personal embarrassments the moTttica-
ton OF public dishonor.
Is it possible that those who have. it in
their power to secure such blessing 10 our
people will let slip the opportunity?