The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-01-14
Is It Repudiationp

80 great l. the anxiety Of some northern
Republican Journals 10 see the regular
s,e,nocra,ic Marty OF Virginia defeated ana
brought to grief thst they SEEK Ia ever.
posssble way to make Il appear that 1enefa'
N.ucSr does not counlenaucc repudia'lon'
bat proposes only to pay little less OF TOE
rub,ic debt than the regular Democrats
rropose 10 pay. Indeed, some OF them go
so far as to charge tho latter with being 'u'
sincere in their professions. and 10 cred''
General MALONE with being the only gen.
nine original JACOB TowNsENp-the real
deht-payer.
We have taken the trouble TO read over
the RrppLsBsRGgR bill as II was nesenieu
TO the virgioia Senate on the 9Th OF feoru'
AIRY last. We lind the following facts. when
we commend to the aitcniionof our north
ern friends. Republicans or Democrats, VINO
do not know that there Is any Reputation
lurking in the scheme OF the R'adlusters
for settling the pubic debt OF virginia
First, let Us remind oil concerned toat tue
entire deb, of The State As recognized Dy
the funding bill OF 1871 was Sij.1lS, ll2.23'
Of which one third was assigned to West
Virginia. Virginia has no idea Of paying
dollar of This third. though certain brokers
and other ill.informed persons appear
TO imagine that there is at least
pos,ibili,v that she will do so. We
csii special attention TO this fact because we
notice that certain OF our northern eX-
th bp
she State debt which the RrDDLEBERGER OH
proposes 10 rcpudiaie constitute that por-
ton Of the debt which was thus set oil 10
Yves. Virginia. This is total mistake
The &C; OF 1871 assigned more than hftecn
millions of the debt as il then existed TO
Yves. Virginia, and the RIDDLrHERGER oii'
proposes TO cut oil t,reive millions more
these last twelve to come off that portion OF
the deb; which Virginia assumed in 1871 10
pay, ard which sill the departments OF inc
State government have since then repeat
edly declared to be debt justly owing by
her.
The preamble TO the RIDpLEBERGER bill
asserts that Si5.02j,G0i OF the forty-hvc
milIlous above mentioned consisted Of
centralized interest which had accrued
during the perlod Of war and recOnStruc-
fi9g.o The words in Italics will surprise
General MAnoNE's Republican apologis,s.
We do not know what proportion Of THIS
4.caujtalized interest" accrued during the
..nerlod of reconstruction -; but we have
meyer heard it coniended 10y any RepubI-
;,,fo Al
the period OF reconstruction, which 10
Virginia lasted till 1870. or five years after
fhe war ended. We would like to know
whether the interest which is not to be paid
was calculated up to 1870, or only to 1860
Who can tell!
Ia order 10 get rid OF the interest which
accrued during "tbe period OF war ana
reconstruction" the RDDLEBERGEH bill
propo>es TO pay of the bonds OF one class %
per cent: OF the bonds OF another class 66j
per cent; and different proportion OF
other parts of the debt-thosc consisting OF
interest. &c. Isn't 1t as plain as day that this
scheme Is scheme Of downright reputation
so far as concerns The ~ and 335 per cent. OF
fhe bonds alluded TO above: And yet this
is the scheme which General MALONE adyo-
Gates. and to support which he proposes to
appeal this year TO the voters Of Virginia,
and which northern mcn who profess to
abhor reputation in every form speak oil as
il il were doubtful whether 1t contained any
feature couutenancing reputation.
Never let il be forgotten that the States
own agents allowed war interest; that Le'
yislatrre after Legislature has acknowledged
the States liability to pay the twelve mil
lions now proposed to be repudiated; that
all OF virginia's Governors who have filled
that office since the close Of the war have
declared it to be debt owing by her: that
the supreme Court OF Appeals has decided
the funding act OF 1871 10 he valid, and its
contract as 10 coupons TO be binding upon
the State; aud, above all, that these bonds
are row In the hands OF innocent pur-
chasers, who bought them upon the faith of
the Commouw cali as pledged by her chosen
officers or agents.
Now, tell us, We northern sympattiZers
with General MALONE, is the RlDDLEBER.
GER scheme OF REIMBURSEMENT a reputation
measure? II not, then there is no other
objection to it worthy OF consideration.
Speak out, gentlemen, for your clients. the
Republican capitalists OF the North. Tell
us whether Virginia can refuse to pay
those twelve millions Of her debt without
being charscaDe with reputation