The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-02-04

An ODto contemporary u""S'"thSS Y" W" :,
its readers something about the public deb, :
Of virginia, and gets OF The TO- lowing:
$50 after all there Is no repr sitstioa party :
in virgiois. The sc-csied srcpudissors
do not propose TO rcpudiate- do NOT k.tend
to ignore the McCulIoch aw. w'nish was
simply measure Of srek( Justin egK '-bW
they desire to get rid OF TO- Or sew erei classes
of securities, and 'have bu a sii,yte ciass'of
bonds OUT Why may nc 4 the dot Payers
Join the Rekdiusters in ,crfec'asg a'law to
that end?"
This last Is Just what the N.ccrILosss bill
was expected and inter ,ded 10 do. The Re-
adjustcrs do desire no { on " TO "gei rid OF
four several classes sccurties, ard have
but q single class OF tor6 s .out," cat they
will soon show the 0Aio ,StIte JossmaI, and
all others who dor .bt f.eSr true character,
that they are in IA sor OF ,.ndisga'sed repu'
diation OF q good part IL the fublic debt |
which has been yer ma over again recog- |
nized as Just ,h,tg atom by sVery depart |
ment OF the Sta " government of Virginia
legislative, ex resniyu, and judicial. All
the sigos OF the times ypoint 20 an
attempt on the part 81 the Read
justers to ns,le the debt Of the Stale
down 10 n,ersaps twes.y millions OF
dollars-pe shsps seven leg. We nave NOT
supposed fI,At' tteir leader would give his
consent such an act az reputation, see
ing that vaspeeeb which he made year
ago In Il ascity he declared his Willingness
10 pay 2ipor cont. upon over thirty NIL
lions OF dollars. But y7e begin to suspect
that W ,cover.es,lmatec either his frmness
or his tanpcnce; for we neither see nor
hear Srsny protcs $ en- his part against the
repu jtsf;ar of one third OF what he twelve
mon n,ssso publiely stated 10 be the amount
OF 4 .,.s,sIt upon W.T. ich the State ought TO
pay s.per cent. interest.
Wen we speak OF what the Readluster'
wi rnYo,,sbly do, we do not intend by any
m eausao concede that they will effect their
p rtended purpose. Most people here
hvans give them no credit for any inten-
io<, even TO attempt to come to an under
Standing withihc States creditors, the gen.
cYalso pinion being that they would "work
taerne1yes out Of Job" II they should
byapy accident devise such scheme OF re-
adjustment would prove acceptable to
ahese creditors. AS, however, TWO thirds
4of these creditors refused to accept
the terms OF the MCCULLOCH bill, IT is
mot very likely that they will close In with
THE much less favorable terms which the
present Legislature will offer to them. The
tMcCULLOcH law has not been repealed; ana
.-is not going 10 be repealed, we suppose
The Legislature maniiests no disposition 10
.trcpoal il. On the other hand. the holders
---ofaover twenty millions of dollars OF Vir-
.ginia bonds which are fundable under that
act as it stands, manifest no inclination
whatever to accept what the Rcadiusters
regard as altogether too liberal term.
We should Ike to witness 4 conference
between the States creditors and the Re-
sadiusters. eve offer you so and so,"
would say The Readiusters. "BHt what
guarantee can yOu give that you will live
up to your pledges? Better men than
you-legslators, governors, and judges, all
.rtrue Virginians bave made similar pledges
to Us over and over again: how can we
trust State whose agents have thus time
and again deceived us?H What would be
the response? I'VE have seen no answer
suggested excent that the newest new adj
ydustment wouldtbe submitted to the people
and approved By them, and thus reliable
guarantee might be given to the States
creditors. But what il the people repu-
kdlate the newest REIMBURSEMENT! Why
should they vote to tax themselves to
any mount to pay this debt! III it
is question ,wbich they have a
right decide at all, then they have right
to decide that they will pay none Of the
delt. If question of honesty, OF good
faith. O moral obligation, can be iightfuy
DECIDED, by calling for the yeas and nays
tiae ballot-box, then it must have two
sides to il. ii must have negative as well
as an Of irmative side. Ii must be right TO
vote ei Their "aye"oo r "no," as the voter
NAV C! ,oose. Apddf he has the right to
voice o." why should he vote "aye"?
Thstw q repudatiHIlies.
Ther are difficulties innumerable sur
roundis this subject We do not see how
the Stst Is TO get out Of them. We are
surprise d that our Ohio contemporary
should "a { dit the DebtPayers with so small
platfori q as the mere refusal to have all
the State b onds converted into securities of
single G las AS we iheve said, the Nc
CULLocn act provides for that and posi-
bly after m uch turmoil the people OF Vir-
ginia mey learn that they can obtain no
more iavor al'le proposition from their credi-
tors than 10 at act constitutes.
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We are IA, cl med 10 think that Governor