New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-03-06
ryRcLyI1 RlPUDlAroRS DENOUNCED.


GoyIRNoR HOLIDAY VlIOEs THH EEAuJ sINiNT
BILr-sIEONG TALK.
Richmond. Va, March Ex-Governor Holt
day to-day returned 10 the General Assembly tIe bI
passed on Monday, known as The Eddie1eiger Bin
together with .Oue message giving his reasons Tor dis
pusoylng Of tho bin. TAe Governor in his veto taxes
ni.h ground He notices the title OF the Act 20 re-
establish the public credit" misnomcr, its OBJ ci
being really repudiate large part Of tho state debt
He holds that the pretexts set forth in the preamble Of
tine net are empty and never heretofore relied on. IT.
dcc the people, by repeated acts OF the Assembly and
y the Constitution adopted in 1860, have acuOwcdged
10 due the entire principal, more than Sl3.OO000O Of
which IS now attempted be repudiatcd by TINS bill
The Governor speaks approynRl7 Of tie McC0loch bill
and al udes 10 the present IN these tcrmsi
Asserting that the existing rate OF taxation "a the
highest that can be borne, and making no promise even
TO Keep at that point for the benefit OF the creditors
essrrft further mat the Government expenses must
be PAID and the pubnc school system must bee spoitcd
and fixing prOmrcd certain limits 10 the cost ot
either proposes to give 10 the ciedOI7 iher rgt
to DO paid their interest out OF any money III tAr Treas
ury not otherwise Appropriated Aud TINS rs The
| interest on a debt 0nifacteu bY your IatDeIr :
men who made Virginia 30 great, 30 r.
spocted, 80 powerful the Procg5Hs sPnt IN
our midst. making our Commonwealth what she is IN
material development. anu Tor Tho payment Of which
they pledged the fth oil the State 10 provide sufficient
funds, aud Tor TINS purpose 10 lew s'u',t"t iaAc-.
SIMPLY uttnesc declarations side by side without
6uofher provision Of the BIZ IS that collectors Of
taxes shall receive only gold. silver, United States
notes, NatlOUd DaIK currency uhu temporary
loan certificates therein provided loI e1ouulht AK re
cflyable coupons for the receipt o. winch the promise
Of the state been given, aud which the highest
courts nav dec ded frequently and m unequyOca terms
cannot avoided without breach OF organic law,
az uotbu0 Of the faifh OF the Common wealth. THIS llp
bf nplciily admits for, not satisfied with vacatiHg
these cations Terms, u attempts by legal ingenuity
to escape The bond by denying The remedies.
The Governor dwels IN severe terms on the provision
winch iorbds collectors TO accept taxrccevabe cou-
pons although the courts have upheld their validity.
lie says further;
This is fearful lesson for Republic % teach lis cit
zens how break, not TO keep, falt ana IL must re-
iuru one day in form with disastrous import.
Could these things be done ana be pronounced In
accordance with the State ana Federal Con
sttulous, both OF which declare that law
shall be passed impairing the Obligation Of CON
tracts, would 1t accomplish the end At winch
its own teTm--mOrc than Si3OOO,OOO Of hitherto &c
know principal OF -Dt by stroke OF the
Ii eliminates" onehalf OF the promised interest upon
the residue; .indeed. II proposes to pay O0rtaIn
amOupt OF interest but only such rs be he
Treasury after future General Assemblies have disposed
OF what may seem to them proper ~ then eliminates"
civ and county taxAOn and thus holders OF the states
obligations abroad ana at home are treated than
c,yi ned nations IA these latter days treat public
enemy.
In conclusion the Governor says;
IInay say as done that the State OF Viz
riu does not mean repudate but these dcclara ions
vil not avail The charge VIII be brought AMI hx' q.
Virgnias history Will be stained with deadly virus.
which no efforts OF those who VIII como after
rs can erase and for which future repentance can
ever atone WIN these views aud CONVICTIONS cannot
mt my Signature approval % this OlL respectfully
h0nOrDe body, IN when IL originated,
because believe DO violation OF the Constitution
OF the State in violation OF the Constitution Of the
United states in violation Of the spirit which has ever
ard made her name dear TO her citizens and
bOnOTed among men.