The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-11-27
Senator smith Wants and Has a
Hearing.
LOvINGsTON, NELSON COUNTY. NA.,1
NOVclnhpr 2f 1891

Az,
November 26, 1880.
| Editors Dispatch: Seeing that you have
invited Suggestions looking 10 permanent
and acceptable readi usiment OF the State
debt. and having SciutlGized the several
plans therefor which have appeared in your
columns recently, beg leave TO insist that
none OF them are practicable. in my iudg-
ment, which do not comprehend and advO-
cate the PRINCIPLES aud policy OF the Bar
bour bill. That measure is obnoxious TO
| the decision OF the Court OF Appeals in the
noted coupon ease OF AutOni Us. Wright.
Not being Il lawyer, / shall enler into no
| discussion OF the grave cOnsti utiOnal ques-
| tions involved, but shall place the matter
before the public aS il really stands before
| the bar and the courts Of the country.
Macy Of the foremost iawyers in Virginia.
two of whom (one now dead) were OF the
able>t members of said court formerly, de-
clare that said decision is erroneous in more
respect, than one. The same distinguished
gen lemen contend that decisions in other
States. and by the Supreme Court OF the
Unibd States, cOrrOborate and confirm
their views. These conflicting Opin
ions have been known 10 Legislators
for the last nine years in tb1ir- fruit
less attempts TO honorably rfaGjust the
debt; and opposing sides have had bitter
warfare in consequence. To my mind, The
debt can be permanently and hOnorabiy re-
adjusted in but two ways: 1. By the con.
sent Of the coupon creditor. while the SAID
decision OF ANON Us. Wright stands in his
favor. defying the inherent and inalianabe
sovereign rights and powers OF the State.
2. By the reversal OF that decision, which
Will pave The way under the Barbour bill
for u speedy settlement OF the debt, rs such
creditor will then be Invested OF the extra
ordinary and unconstitutional advantages
aud prUte ctiOn be now ENJOYS over other
bOD0hOlders and over tue State. How
TO get rid Of such decision is the
question, therefore, which presents itself.
II the present Legislature were known 10
be In favor OF this view, 1t could be con-
vened, the Barbour bill be passed aud be-
come law without The GOvrInOr'> signa.
TUE (as he viii not approve III, and the
questions involved be taken before the
present Court>of Appeals and be argued by
the ablest counsel tDai could be employed.
which was not TIE fIct in the hearing Of
Anfoni Us. Wright.
Courts have been known to reverse their
own opinions, and it Is believed That the
Virginia Court Il Appeal, viii do So in
this instance. IL not, lei the seXi Leglsla.
tue be ehcted on the platform Of he Bar
boUr bill, and this decision he fought be.
before the next Court OF Appeals 10
be then elec ed. Ii IL be reversed,
the coupon creditor can (under the
New York law and otherwise) take
the case u the Supreme court OF
the Upied States, and II that tribunal-tbe
court OF last resort-su,taius the decision NJ
AntoDi Us. Wright, then our people cannot
cOmplanihat The matter has not been adju-
dicated. IL that Court should confirm the
decision reversing AntOni Us. Wright the
coupon bODdhOlGer would then be plared
on the same footing with other creditor>,
both legally and morally, and rta6ju>tment
would be an easy matter OF OmpIish-
menf, satisfactory To all sides and perma.
Dent. ln no other way can The six per cent.
coupon bondhOlder be- reached. Glance AT
tx perience for moment TO see valuable les
sons in This behalf. There have been only
two approved propositions from the State 10
the creditors since the funding act OF 1871.
First, the Bocock- Fowler act-a dead
failure because II begged the question.
Second, tue McCDlioch act-a consent
measure ~ part, which was killed by syn.
dicaie mainly, and by pace-hnnters.
Ihere were two "diSdppr0Uedv propo.
sitions thai were otherwise matured in As. |
semDly. First, The Ban bour bill. which |
oniv provided how The Ieyenucs sbould be
apportioned between the State, The schools. |
ana TIE creditors, giving to ibe latter all |
the surplus after supporting government
ana education, rs required by the Consiitu. |
non, ana not undertaking 10 Tx any rate OF |
interest, but pledged That there should be
10 increase or The iule OF taxation. II pro.
posed no uore aud DO les, and repudiafsd |
iofhfRg. Second, the RladIeberger blIi
Which reIImIsaiedu pDd repudiqfed