The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1880-12-04
Report Of Tie Senate NJ.
nance Committee Oh
the Tiygipia Debt
Question:.
STATE or WEST ViRGlyIA,
CnARI.EsroX d.. p. 1SIS. /

The attention Of the Committee
on Finance has been repeatedly
called By resolutions introduced III
1.-The Senate and otherwise, to the
subject Of Nirginia's public debt
and the share which it is equitable
for West Virginia 10 bear and pay.
The committee under these fre-
quent promptings have been con
strained to give the subject their
most earnest and careful attention
~ u mutter t:aught with more than
ordinary consequence to the State,
and come to q conclusion satisfac-
tory to themselves, and it is be-
licved that the conclusion Of ihe
committee will he approved by The
judgment Of the people interested.
and will receive the sanction Of any
tribunal before whom It mNy br
brought for adjudication.
tits necessary 10 q full under
standing ofthis subject that refer.
ence he had 10 the treaty PtipulN.
tions or fundamental conditions.
by whatsoever name they may be
called, between the representatives
ofthc people Of Virginia md the
people desiring separation, by tlis
creation ola rev State, which led
"a the formation Of i constitution,
its adoption by the people and lis
approval by Congress and the rs
Enlistment Of the StSte Of West.
Virginia.
nance to provide for the formation
Of a new State out Of a portion Of
the territory of this State" Sir-
ginin passed August 20, 1861, pro-
vided, that "the new State shall
take upnnit.eif a just proportion
Of the public debt Of the conlmon-
wealth Of Virginia prior 10 the
first day Of January, 1861, 10 be as
ccrtained by charging toitall State
expenditures, within the limits
thereof, aud Il just proportion Of
The ordinary expenses Of the State
government since any part OF snid
debt was contracted; and deduct
Ing thcrefrom the monies paid into
the treasury Of the commonwealth
from The counties included within
the said new State during the same
period.n
Upon compliance with the condi;
tons contained in the ninth; Sec
ton and here quoted the people
within the counties now constitute
ing West Virginia, were authorized
toform constitution 10 be present.
ed to Congress for its approval and
for the admission oftllc new Stale
into the Union.
Accordingly, a Constitutionswas
aloptctl#b convention 0f#tliei
people from tho several counties
demonstrating the state#0fzWG
Virginia; antl#to carefully guard
and secure thcErightsz prescribed by.
Virginia as a condition precedent
to lhcyf0rmntion Of the new State
u provision was Incorporated into
it 10 secure the exact ful!illnent Of
the treaty stipula;ions aforesaid.
Byarticle eight, section eight Of
the Constitution, it was provided
that IAN equitable proportion Of
the public debt Of the Common
wealth of Virginia prior 10 the first
dag Of January, 1867, shall be as
sumcd by this State; and that the
Legislature shall ascertain the
same us soon rs may I've practicable,
aud provide for the liquidation
thereof By a sinking fund sufficient
10 pay the accruing interest and
redeem the principal within thirty
four years.
This subject has received 4 care
full consideration by commissioners
appointed by authority Of this
State, and while this committee see
much to approve in The Report Of
the Debt Commissioners Of West
Virginia on this subject for their
great research and tile ability with
which they handled the subject,
considering The peculiar difficult
ties under which they labored, us
shown in their report, and in the
illustration orthe many problems
that arise in The discussion Of this
subject, yet this committee think
The controlling question has not
been discussed by the Commission
ers by reason Of the embarrass.
ment surrounding their action; and
the Committee beg leave 10 refer
10 the report which is appended
hereto and marked No. /.
In constituting the legal princi-
pies involved in this matter, II may
he assumed that Il private creditor
Of Virginia cannul SUE West Vir-
ginia for contribution: for TINT is
prohibited by the Constitution Of
The United States; sae article
eleven Of the Amendments to Uni
ted States Constitution which de.
clans that "thc judicial power Of
the United States shall not be con
stracd to extend 10 my suit in law
or equity commenced or prescott
ed against one Of the United Suites
by citizons OF subjects Of my for
eign State" but notwithstanding
this prohibition the third article
extends The judicial pnwcr Of the
I ~ 4 L..