The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-04-21
A Conservative Readtuster's Talk
MANCHESTER. Va, April Is, 1881.

A Conservative Readtuster's Talk
MANCHESTER. VA, April Is, 1881.
Editors Richmond Dispatch:
Geptemen,-I have been pleased 10 reaC
the many articles which have recently ap-
reared in your journal looking to the com
iny political campaign In Virginia, and with
the disposition evnced on the part OF many
of the writers TO sink the debt issue that
the government Of the State may be retained
i'm the hands Of the intelligent and true peo-
ole who form by far the largest part OF her
populaion. Among the MANY letters have
seen none are from Chesterfield, 1.-THE old
banner county" In ante-belium days.
THE white men OF Chesterfield county 0n-
GLIDING Manchester), as well as those OF all
parts of Virginia, are favorable to the Con-
seryative party. There Is only one question
which mainly divides them--the debt quts-
ton. On tue one wing are the extreme
Fupders-a party OF noble. whOle.souled
men, who, from high sense OF honor (pro--
badly overstra,ned), favor the payment OF
the debt in its entirety; while on the other
wing are those who equally honesO are Tor
reasons satisfactory to themselves favorable
to large reduction. They are unwilling
by any settlement 10 place upon posterity
debt in amount they feel unwilling TO pay
themselves, and that without knowlng IN
what circumstances their posterlty may
tind themselves. belong to the latter class.
and for that reason j have no right TO give
YOU advice. II may not, however, be amiss
IN me to suggest scheme OF settlement that
NAV meet the view OF all parties-deotors
and CT editors. SO have written rough
sketch that you may see and Judge OF II.
The debt 10 be reduced TO Slo,OO0'VOV'
All descriptions OF bonds 10 come 10 on an
equal footing. The levy OF taxation TO be
las at presently so cents on the 500 OF values.
Ten cents Of each fifty cents to 20 to bond
holders as finally, aud the bondholders 10
be forever piecludtd fiom participation 10
any amount that may be thereafter ievieu
over the original fifty cents. The stocks
and bonds to be thirty years optlon:
The scrip to be Of two kinds. Registered
stock with dividend interest, and bonds
with dividend coupons. Dividends 10 0e
declared semi.annualy.
The bOndhoiders to appoint three COM
missioners TO be paid by tbemselves) 10 see
that assessments are fairly made and col
lected, and their share paid over and faifly
divided in dividends. Should the remain.
der OF forty cents (after paying the bond
holder his ten cents) be found inadequate TO
small additional levy TO be made in order
10 give the schools greater permanency ana
scope, and for no other purpose whatever.
The former plans proposed-viz., 10
nav the way Of the government and 1iee
schools" &C., &C., .'and then divide among
the bondholders any balance which may be
left on hand us Objectionable because the
govern ment and school officials might COM
-. q 10 N
it: while, on the other hand, the bondhoid-
ere with their great means might corrupt
the officials to staIve the government ana
free schools that the bondbolders might re-
cejye a greater dividend. The above plan
COTS the bondholder to one side with def
mite certainty, however small it may be, and
at the same time Identifies him with the tenn
moral interest OF the State. II he speaks
we'll OF her it will advance his interest and
ours. IL he speaks i'll Of her, like an angry
snake he will bite himself. This will give
about Ii or 2 per cent. OF interest now on
the S15,000,000, and five years hence,
when q new assessment shall be made, II
the property has doubled they will get 4
per cent, and In ten years, II 1t has trlpled,
they will get or per cent, &c. 1t will
settle the unfortunate difficulty, and the
bondbolder will take his chances with the
future fortunes of the country. II we 60
forward to the grand material developments
that lie so beautifully mapped out before us
| in our visions OF the near future, and OF
which you so often write in your vau-
able paper, they will share our prosperity.
| In, on the other hand, the prosperity OF the
State should decline, their interest will de-
cline with ours. Their shields will be locked
with the masses for veal or woe.
| do not wish TO be understood as saying
that exactly ten cents ont OF the fifty cents
shall be paid, or that it would amount TO
per cent. OF interest. ! only wish to give q
general idea OF plan that will give the
creditors certainty now, no matter how
small. and a hopeful outlook for the future,
well knowing that no settlement Is worth
anything that does not please the great
masses, as they will be ever agitating with
o view to ripping 1t up, condemning all set
Elements as fraudulent which have been
forced upon them either by purchased legis-
lation or biassed courts.
So far as the question OF the capitatior
tax is concerned l have to say that felt
sure when ii was first passed that ii would
merely be the means Of excluding poor men
from office, and that it would In the end
operate against the Conservative party.
believed 1t then, know IL now. And the
Republicans must laugh in their sleeves al
the stupidity OF the Conservatives who per.
sist IN retaining IT,; for when 1t becomes 9
question Of dollars and cents as to who shall
vote-of paying taxes-the Republicans
have the superior advantage OF having Cor
ham "to their fathers" and the United
States Treasury at their backs, while the
poor Conservative candidates have only
their own shattered resources and those oil
their poor friends to fall back on. viii
| illustrate: Suppose the election is to be In
the Third (metropolitan) district, and it be-
comes question Of enfranchising 10000 or
$4,000 Of the unpaids, the money can be
raised in Washington in five minutes and
paid here the day before the election. II
would take the Virginia Conselv atives i've
or ten days to get an equal sum, II at all.
The Republicans can borrow 1t out OF the
Treasury and pay II back; the Conserva'
tives have no treasury TO 20 to.
| MIR. Pelouze, In ft OF anger aud In an
unguarded moment, "lct the cat out OF the
bag" last fall when he declared from tue
huslings that be had been promised the
money 10 pay the capitation tax OF some 8, 00C
veters, and that the managers OF the Repub.
lfcan party had weakened on him. His as
sertlon Should bare been enough to open