Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1880-11-23
Sounding the Depths OF Infany

To the Editor If the NerS;
The position taken by the Funder
press since the Presidential election with
reference to the REIMBURSEMENT Of tle
public debt, shows clearly that the Fun
der party Is capable, if they have not
already done SO, of sounding all the
depths and shoals Of iniamy.
The Bondholders and Brokers, and
their allies, Gilbert {. Walker aud his
fellow flinders, forced the passage of the
Funding bill through the Legislature or
1901. BY this bill Nirginia's portion
Of the debt was fixed at precisely what
it was before tho war; with compounded
war interest, and reconstruction interest
added, aud the whole made to bear in
tcrcst at the rate Of per cent per an
mum.
No scale of The debt was made or even
suggested because Of the loss OF over
800, 900, 600 Of property inflicted by the
war. This bill imposed upon the war
worn aud impoverished people Of Vir-
gina $lSO0,0OO Of interest every year.
and S30,O GOO Of principal at the end
Of 81 years, Against this bond-slaycry
proposed by the Fundcrs, the people
quickly reyoltcd and flew to arms, and
for nearly ten years they have Wagcd u
Ccayelcss war.
The bonds of the State were bought
UP during and after the war at from 20
to 80 cents on the dollar by northern
spectators, giving them a margin of
from 10 to 50 cents on the dollar for
clear profit, provided the people could
be- forced 10 pay the debts aud interest
due dollar for dollar. Thus these spec
ulators could afford to pay lNyshly for
home all In fastening ON the people the
burden of the rhoie debt NJ II stood be-
fore the war, and interest added. They
did pay largely for such aid. Upon
foreign money thus used The fundcrs
hayc lived aud llourshed, while tho taN
paying ami lNbOring classes, In poverty
and rags, have mourncd.
The Fundcr leaders fed and faltcucd
on Brokers money, and deprecated COll-
pons we're swift to do their masters bid
ding, Their first step was 10 declare 10
the people, whose rights lmd been ruth
lcssly trumplcd under foot, that the
Funding bill Of 1871, which imposed
$lS00OOO of interest for 81 Yeas, ana
$40 900, 600 Of principal at the end Of
that time, was u "HNClCd contract I'M
yiOlahlC, irrCppalablc and iucyocablc.-
While this position was clearly Unrou-
stiiutlonal, and u stab ut The very yilas
Of state sovereignty, IN 80 far as the
right of u state to collect hct own rev.
cnucs and taNrg were concerned, n
suhscW lent ana partisan court ct Ap.
poalS had been provided, aud with uppa-
rent lWpalipnrc, was waiting 10 confirm
by ts decision, the Fuudrr view Of that
Infamous bin, The funlcr. then pro.
claimed themselves tie "llunor md
Credit party Of the State They de-.
rlHrcd The State owed $3O,UGOOOO, aud
SlSO1,OOl Of interest yearly thereon.
thai thi2 dcjt was inst and hunc.t that
The people were able TO pay u,
They denounced everybody who bee
licycd the debt ought to be- seated In
proportion to the loss Of property by the
WHi--who thought II unjust 10 require
the people 10 pay compound war, and
reconstruction interest who claimed
that the education OF the clnldrcn and
The support OF llp government were
clamtupun thc people Of equal dIguiiy,
IL not prior TO the claims Of the hond-
holder. These the l'undcrs denounced
N Thieves, highway robbers, AMI dice
honest rcpudiatOis who had no regard
for the "llonor and Credit" Of the
State, These same l'undpls nllH Com
srryatycs. uis Debt Payers. ALTA.
Democrats, declared TINT the people
should pay lhc Inst silver OF the tJp,OnU
600, with IL. ~ $4,000 u year interest
That the "bnuur anu credit oI lhr
State, WAS everything to c,otybody,uul
rather than see either impaired, by the
refusal 10 pay every cent Of The $3.50 600.
600. and its fl,SOO.0OO year interest. .
they would burn every school hosu IN
the State, lnm The luunlira ont ou the |
commons, and reduce the people lu
bread aud water 10 sustain thpir hIgh .
To "honur aud honesty" The
Fuulrra pnsaod dog-DuN "a bell tuurh /
lnV-ttanstprrcd the expenses ot tho
county courts from The Suite Treasury
to lhe counties thus raising the lHNd.
about 100000 yenr-thcy attempted lu F,
tuX church propcHy--to pass u stamp .
frt, more odluus than the Federal SHWr /
tI II.. uruUUfyp1 u yutIt ,.f..t. ffl.t I