Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1881-02-02


|: appears from lo statutes TO which 80 sic
reierred-and W0 Ero| tae f"ci rs tllt'tr Q!
lubic hisscIy-that pler 10 los late civil Esr
Virginia tai bccamo largely indebted FIR
montys borrowed 10 corsruc public works 10
BIO state. tic money we're ob:eced UPON her
bonds which were ISSUED 10 "a smcuut txccid.
ing thirty millions Of d1lIars, B.ioe tho obi
Ratiots of a state Of large wealth. Which pevcr
allowed iIs fidelity to its promises 10 be 1es-
toned anywhere, the bonds found ready sale
10 tho msiksts Of the unity. Uolil tho civil
wsr, tho interest on them was rteul ..ly erl
| promptly paid, Afterwards tho payments
| ocassd. Grd uati 1871. with the txc;p i'm OF
| lew small suns romitted in coin during the wsr
| to Lontoa Tor iorcigr bondhcldirS, or paid in
Pralo!a 10 Confederate money, srd small
am ult paid in 1866 snd 1867, no p;rt cf tho
interest or ploc'p was yaia. rurns tie war
q pcrtlAn OF her territory was separated from
her, snd ~ l;s people pew state, naned West
| Virginia, was termed. apG ly the Coosrass oil!
| the Uolted States was admitted iuto The
UnIon. Nearly 90 third If her territory aud
people Tero thus taken from Ter Jurisdiction.
Blu! IS the whole state had cua.cd the indcbS
tdn!s for whiah tbs bonds were Issued, ard
participated 10 the ben,G Cts obtaioed By The
| money raised, it was but i1s! that portion Of
the Indebtedness Should be asscmed By that
part which was taken from her and made ucW
safe. Wli.cls on uublc Law srcsk of the pria.
cp!c as we'll cstst lIshed, that where slate ia
divided mo two or moro states, 10 the adjust
ment OF Liabilities between each other, the debts
ct The parent state should be ratably arpot.
TONED among them. Ga this sui ject, Kent
says: IF state should be divided in respect
10 territory its rights aud obligations arc not
| impaired; aid if they hav, not been eppor.
tloned hv special agrccmeI their riahts are
to 30 trj Dyed and their obligations fulfilled ty
Gil the Paris 10 commen."-l Commentaries,
lst vol, &c. And Hallcck. speaking of state
dNllcd into two or moro distinct ard indupen
Dent soVerelgntles. says: IN that case. the Oh.
| legations wtioh heVe scorutd to the Rhcle be-
fore tho division are, uuless ,hcy bsvs batn the
subject OF epcclal aarecneut, .atably bioGi!g
upon the different parts. THIS principle is
stat shed BY the concurrent opinions Of text
writer's. tho decisions CT courts. aud The prac-
tica of ns!obs. - lntcrnsti,ual Law, th.
SEQ q
10 cuufOroi;g with tie dcc1ioo thus stated
ny Halcck. both cs-VlreLia end West
Vlreirla-hevn reoog pzsd 10 their constitutions
their rtsTecl'e liability for GO equitable pro-
portion OF the old debt Of the skate, ard h,vo
provided I! q: measures should be taken 10, its
sati!encot. The constitution OF Virginia Of
| $50. dec ared that tho general asaon by sS ould
.proViGSSy law Tor adjusting viii The stste Of
west Vlrelola thu proportion Ct the public
DEBT CT virginia proper to be- bprue by the
States OF Ei.pinis and Yves! VirpiDis." sad
should "prov.d, that such sums s. cha b, TO-
ceiVed from West Virginia, shall DO applied 10
the payment of tho Pubic debt OF tao s!ste."
III Art 10. SEQ. 10
Tho constitution Of West V;rsiti,, which
weu: toto effect in 1863, declared thet IAN tui.
table proportion Of the public dsbs Of Inc Con.
moaTcslth of Vlrgioia, prior to the frs! day Of
January 1851" should "be assumed" by tho
state, acd that The legislature should user.
tsIo he same IS soon rs Practicable, tpd r,o.
Vido 11r the liquidation thereof by Eiukirg
iund suflslett TO paw the tccruiug Interest AID
redeem the principal wiihu lh,r.y scur y,ats."
II S. SIC 81
Ia. Notwithstanding these oorsti:u i.p. re.
qu'renents and various fiors made 10 gtj;s.
!he liabilities OF West Vmgitis, nolhiug was
accomplished up TO hlaroh 3O;h, 1871. a5d i.
Is stated By counsel that noiIiicg has b.an 40
c3mpl!shed tlccs. AS might have becn *
psctcc, Tho posi- io1 CT Virgina vas col p!ess.
ant onc-htiug charged with tho whole iad:bt
| oGno5s which accrued before he irra:aticu out
OF her territory CT rev state, aud erl!!cd 10,
Tlthou; bclag noln TO. o.lao csn,t.tu.ioa
iron tho Dew State q F. plTt If il, corltsno1ri
lDs rrrpiltiGHa.Cly 10 her tXttnt sd pay.!a.
1909. Size, therefore. Undertook 20 Cn!c. c
htp:raio otilstmcut with Ter c:cd!Io:s, q, d f.!
That Iu5pO:C C. IN tic 30h Of Ma!cn, 1871
passed al COZ known IS tho 'Fuot.rg Ac" @.
The stale. Ii is entitled AZ 81! to t:Lyid, fer
| tue inatlrg md raYtGcnt Gl !Ee public Gai,..
l!5 rrca1itl3 rtcItcl! that Ia The t,tiGatc, gu
thor rg tic oIgau 2!l!oa Ct It's Sta'c II " s.
Pireiola 1t !7Gs provided that sao Fl.cu!: take
ur0a teraeit jIss I5rpuriau If .ha iu5I:c
deb. oi the Cvmmon%esIth cf Nlreinia, lri11
10 JGDu,ay to lst. 1861, end thu. TIL lrysisicr
had not been tu,li'l,d although repeated s,d
earnest etEaIts 10 that behalf hsd beer made by
VlreiDif; end then declared that, 20 crgtlc
tho 5 a!c Ct Yves! Wig ria to settle Ter yrapor,
loa OF said deb. with the no da:a h. reel, ;" n,
to prevent 0ly con p'oatiols OF difficulties
which might DO lnterpIsad TO spy other m ,nrcr
Ct vcttemcnt and nor tho purpose Of promptly
restoring the credit Ct Virginia, by providing
ior the ccrtala md Eroupt pGyment Of the In
tcrCst 90 her proportion ct said debt. es tic
samo shall become due" the Legislature erao.
Cd; That the oRncr3 Ct The bouCs, s.tcks,
tr lo!erts. certificates CT tho state with
fow 'zo1ptons) might fund Two thirds
u iho Stun dou tTO llliTuS or Tic lDtcr
rst duo or 10 lcc5mo due thereon u2 10
JAY 1t, 1871. in xix per csnt. cyupon or reg.
istercd bonds Ct the satc, TO fua thiry.iorr
yenrs; the bonds to DO mado payabis to order
or bearer, aEd III: upops 10 bearer. The &C,
declared that The oouptu, should bo payable
semi. aonusly, AID "ho receivable OF end after
na!rrAy for oil ttxes dsLts. dues, ard densnds
du' the safe" and that this should DO s, *
pressed On their fsc,. FJr the remaioing oro.
third of Ii @ amount Of the boLds thus funded,
the al piosiied that certificates should te
issued to the croGtCrs. setting forth the amount
Of the bones not funded, with tho irtcrest
thereon. and that their payment would BIO pro.
vidsd for 10 tccordauce with suoh settlement as
might be subsequently, had between the Two
states and that Virginia w0uld hold The binds
surrendered, 50 far as they were not funded 10
trus! for the holder CT bis assgpees The
bonds of the Stale, with the sc.unula'ad 10.
ttr,st. then smouated to over forty millions CT
| dollars.
Uoder til; to-, large plumber of tho crcdi.