The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1880-12-09
Outside view Of it.

auested to publish by an esteemed friend
and prominent Republican Of Virginia, as
rejecting his views. The present indca.
lions from the ''debt-paying faction" do
not comport with the sentiment that the
Journal ascribes to them, inasmuch as there
is tendency to the very policy that IS
by the article below. The in
timations already thrown out point to the
Barbour Bill, as the basis Of the canvass in
1881, of this ''debt-paying faction"-a bill
that was vetoed by Gov. Holiday because
he believed it was unconstitutional, and de-
nounced by the leaders of this faction"
as dishonest, monstrous, and even disgrace
full to the State. We have our own views
about this vital question, and at the proper
time will present them for the considera-
ton of the people of Virginia. But really
it is time wasted to discuss the question,
until we have some tangible assurance AS to
what the creditors-not syndicate manip-
ulating for individual proflt-but the bona
fde creditors who hold nineteen millions OF
the funded debt. with tax-paying coupons
attached to the bonds, and fortified by the
judgment of the highest court OF the
State-will concede or agree to. There
must be some understanding with them,
and some formulated scheme to place all
the creditors upon equal footing. 80
long as the holders of the debt funded UNI
der the act of 1871 rest upon their contract.
and draw their interest through the self-ex-
ecuting provision of the coupon. at the
rate of 10 to II per cent. upon their invest
ment, the discussion will only be source
of excitement and agitation, without the
probability of settlement, such as the peo-
pie have been made to believe would result
from the various specifics that have been
offered in the numerous bills presented and
considered by the Legislature, and some OF
them enacted into law with this effect prom
ised. We say there must be an understand
ing with this class of creditors. They can
not be treated with contempt and their
rights, as secured, ignored. The public
mind, outside of Virginia. is being drawn
to. this subject, and the Supreme Court OF
the United States may be invoked to deter
mine the question and rights at issue. What
ever is done should be final it should be
settlement, incorporating the elements OF
justice to the creditors as well as justice to
the State, and until this understanding Is
| reached, agitation will be worse than USE
less-it will be a great wrong to the
people.
Our Rhode Island contemporary falls into
very common error about the purpose to
reoudiate the debt. This error results
from the representations of those who are
now ready to accept that which they de-
nounced as reputation. The virtue, it
seems, grows out of the faction" and not
the proposition. II the ''debt-paying fac
ton" endorse proposition which, coming
/ from Readilsters is stigmatized as repu-
diation, but going forth with their imprima-
tur is styled honesty. 1t is very plain it is
not so much the merits of the suggestion
make it. Up TO this time, the Re-adiusters
have the ad, antage in the manifested pur-
pose to pay something. They fix an amount
which they say they are willing to pay. and
make provision, by proper legislation, for
so doing. The debt-payers have presented
no proposition that would amount to set
tlement They have succeeded in creating
three or four classes of creditors-confused
and complicated the whole debt question to
such degree that nothing but heroic treat
ment will straighten and equalize it. 1t is
therefore. misnomer to assume that there
is any ''debt-paying faction in Vir-
ginia, in the sense that the term is un
derstood by the Providence Journal. The
business Of next year will be to adjust the
complications and conflicting interests, il
possible and place all the creditors on al
equal footing. This will require the coop
Grafton of the creditors, to make it final ant
preserve the virtues of settlement.
We give the article below, in Difference
to the wish of our friend, land because Of thu
high sense of honor it ineulcates. and as es
pecially deserving the consideration Of the
colored voters of the State;
The success of the debt-paying faction O
the Democratic party in Virginia may bt
regarded with satisfaction throughout the
country without reference to partizan feel
ing. However much the opposition to the
payment of the debt may have been the ex
cuse rather than the object of the OrganiZa
ton Of the Readjuster party. under the
leadership of Gen. MahOne. its principle
was wrong, and it has been very properly
defeated. 1t is not alone for the benefit Of
Virginia in material and economical poin
of view that it should be rescued from the
slough of reputation and pledged to The
honest payment of its obligations, but il
must have been great injury to the col
ored population to have been led to false
notions of honor and honesty by the brides
of political consideration and advantage
We do not hesitate to say that it would be
better for the colored people of the South
to remain in their condition of political
bondage until they can be relieved in ar
honorable and lasting way, than to obtain
a temporary recognition at the cost OF false
notions of honor and intelligent views con
corning the public money by the utilization
with repudiating factions,
We have never had faith and have none
now that the race can be elevated through
the quarrels of the dominant faction, anC
are convinced that their best prospect is in
the steady adherence to the principles Of
the National Republican party, and the ex.
hibitiOn OF the firmress, intelligence and
stability necessary to maintain Them
When they break away and are misled by
false theories or bribed to abandon sound
principles by the hope Of temporary advan-
tage. they lose the sympathy Of the coun-
try, deprive themselves of the moral effect
of their position. and give confirmation to
those who dispute their qualifications. fol-
self-gOyernment and present evidences OF
ignorance and the influence Of demagogues
to justify their deprivation by improper
means of the rights of citizenship. The
movement In Virginia was the more dan
gerous and injurious from its prospects Of
success, and the best friend of the negroes.
as well as the Lation, may be glad of its
defeat.
A sad occurrence is recorded by the Dan
vile News, as having occurred at Yancey-
Vile, n c., last Sunday week ago, Mrs
Gertrude, daughter of DR.. w. 81. Hender-
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