The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-01-20

And here l beg to say that this reference
, myself seems necessary; for, while L was
ever candidate of my own motion for the
enate ofthe United States, no sooner was the
eparate and Independent action Of the Re
djusters entered upon sthan the movement
vas denounced by the Bourbon Funder De-
nocracy as one aimed to carry me to the
senate. In point OF fact, Bourbonism and its
win Funderism had forced the movement, not |
'nly as necessary to compel final settle |
nent OF the debt, but to save the free schools |
lefend the right of suffrage, rid the State |
rom the reign of Bourbon-F underism and |
rec the people-all the people-from the |
domination OF political clique, as prejudiced
md llliberal IN Its opinions as it was nsolent
and oyer-bearing in its acts. But III hope to
1iscredit, injure and defeat the movement and
It's objects by ascrlbing to it mere motive of
personal ambition, l was selected as the sac
rifce, and all the walls of Bourbon wrath and
were poured out upon me. Thus
my nomination, in the first instance, was the
work of the Bourbons. The people accepted
the nomination; made it one of the issues,
and Legislature was chosen which triumph
antly elected me. The Bourbon cry during
the canvass was anything and anybody TO beat
Mahone1' and had the Readjusters been
defeated, several gentlemen would have ST.
-iously contested Senator Withers' claim to
re nomination and reelection, but, as it was,
they all gracefully deferred to him, and allowed
him the honor of certain defeat!
The developments that at once ensued de-
monstrated how egiegiously in error the
Funders had been in their calculations. They
had promised not only sufficiency of revenue
to carry their bill and all expenses of Govern
ment, including support of the schools, but a
large surplus. On the LIST of January, 1880,
when the Readjuster State officers came into
power, instead of the surplus of $525 800 SO
confidently promised, after defraying the cur
rent expenses of the Government, including
the proper charge for schools and the pay
ment of interest, it was actually discovered
that plate had been prepared with proof
impression in the Auditors Office for the issue
OF tax certificates to be sold at seventy-five
cents on the dollar, to pay the first interest
demand of this new funding scheme. In tile
Treasury there was only $22, 494; and against
this was an alarming and pressing floating
debt amounting TO total of $685., 372 con-
sisting of 81 ,504245 of intercepted and di-
yerted school taxes, $50, 4S2 due colleges, $40 :
$40 of Incorporated funds due the Literary
Fund, S 1853 1914 in warrants outstanding against
the treasury and $7S3,231 in tax-receivable
coupons, overdue and unpaid. Among tie
first acts the Readjuster Legislature was one
to authorize the borrowing OF $500, 900 for Il e
relief and maintenance of the lunatie asylums
which for months past had been poorly served
as best the officials could obtain supplies upon
credit. In this signal manner had the estl-
mates of the Funders misca ried, while the
better founded calculations Of the Readiusters
were amply verified.
With only the first instalment of SS,000,00C
funded under it. the McCuloch Bill had been
SO severely condemned by the people that the
syndicate abandoned it, having already, how
ever, profited largely Oy the gross appliances
OF eXtortion provided for them in that meas
tre. They held the contract to refund our
debt at their own option, the State and hel
creditors being rigidy bound to the syndi-
Gates as long as these chose, but the syndicates
were bound only at their own sweet will and
pleasure.
RE-ADJUsTER REFORM.
In taking possession SO far OF the govern
Iient of Virginia, which had so long been ad
minstered by the Funders or so-called Debt
payers, the Re-adjusters not only found al
empty treasury beleagured by immediate
claims amounting two and half millions o
dollars, all clamorous for payment-not onl,
surprised the Auditors Office in the very ac
of issuing tax certificates to be sold at seventy
five cents in tie dollar 10 raise money. at G6;
per cent. a year to pay three per ceLt on til,
McCulloch Bill-not only found that eigh
years OF Debtpaying talk and Funder contro
had not only tailed to pay the debt of 1871 ,bu
had actually allowed arrearge to accumulate IL
about $4,000, 900, when you include interes
due the Sinking Fund and the 81 $4,000 will
which they began to run the Government, not
only found our asylums and colleges embar
raised for lack of due support from the State
and our whole free school system paralyzed b,
an unfriendly and illegal conversion of it!
funds to the sum of over one million and a
halt to other uses; but chaos and msmana ge
tn frauH aud xvaT
discovered TO have reigned throughout almos
every department of the administration, Il
she accounts of the penitentiary it was at ono
developed that the A gent and Storekeeper hat
defaulted to about $35 900; in the Office Of TIN
Auditor of Public Accounts the public bust
ness was all behind-hand, county treasurer
and other collectors in arrears form aggregate
running through several years OF over $500,
100; illegal and eXtOrtiOnate charges on crlmi
nal account had been improperly paid in larg
sums to city sergeants and others, and by in
diligence and favOritism, procrastinalion and
negligence our revenues had fallen into wretch
ed disorder. In the Second Auditors Offic
bonds refunded. OF that had never been legal,
issued, were missing. and coupons that haC
been received for taxes (some of them uncan-
celed) were gone, and legislative Committed
of Investigation, with long search still befor
it. has already found that bonds and coupons
have disappeared to a sum exceeding 100000
and almost on every hand ineificiency, if moi
REGULATION, was exposed. The party of reform
and of the people, the Re-adjusters, at once Sc
about the Improvement of State affairs. The
frauds on the Treasury were stopped and lega
process appealed to for reimbursement from
former offenders. or for their criminal punish
ment defaulting and delinquent collectors O
the revenue were no longer INDUCED, and The
necessary steps were taken to compel prompt
settlement for the future and to recover thu
unpaid deficiencies of the past new vigol
and fresh vigilance were brought into every
division of the public service; the voter and til,
litigant, as far as the Re-adiusters were respon
sible for the execution of the laws found fair.
ness and impartiality at the polls and in thu
Courts; the schools were revived, for not ONLY
were their current dues awarded them, but
large payments were made on the arrears i'm
properly kept from them the Penitentiary
which, under Funder rule, had cost the STATE
annually sum scarcely ever less than $50, 900
has now already become practically self-sup-
porting. and. under Re-adjuster management
will soon yield handsome income to the
Commonwealth and in every department
where the Re-adjnsters have gained control oul
affairs even in this brief interval are exhibiting
marked improvement. Yet it is not alone in
the important details OF practical government
that the Re-adjusters have wrought great
and beneficial changes. Public sentiment 1t
self has been enlightened and llDeralIZed by the