The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-04-26
The State Debt.

The WHO has prepared and submitted 10
The consideration Of the public the following
ingenious statement OF the pubic deDt Oh
VIRGINIA. and asks us to show its falsity or
avn up that it is true. We quote:
cld registered or coupon debt, as 10, ,oe sse 90
az january 1, 1851. .......-.. s3i'oVo''oN w
Old James River stock aud James ooa,ao m
River and Kapawha bonds'.'''' %9f,Ioo "
T9,s state DEB. Oh '.".'' soO,7l2 90
-ln,sUsi from January J.. 1861,
Including arrears at ihat dale' 10 O, ,oa oAo on
Jnly 1, 167l.............''''''' @i'"V1'"- ~
r1cbt and interest toJuy ,1S7l ..s53 's03'029 o0
one third of for West Virginia'''' 1T'oo'oot %
yi.eip,s,s two thirds. $685. 7O3 81
ic,sre,' psi srn sIOm iss7'.... 4,7lI243 80
$50. s25 4E9 SO
Interest paid under acts Of 1857. 2'o49,4Is %
s2,s279,9sO 81
States interests in public works
sid for old bonds tetween Jauu- On
airy /, 1855, and July l. 1871 z,oo''i'o %
s25,5a2.sl0 80
states interest In public works
sold for bonds OF '66-'67 be-
fwcep January /, 1866 and July ooa o6a s5
4, l67l...... ......'''.'''''''''''
s24,569,75O ga
ID, duct four years war-interest on
two.thirds of the original dsDt !" .oee114 o6
per cent?. ...'''''.''''''''
sl9.4sl,6 $3.50 4s
ksd interest at 6 per cent from , ceooo, &c
July /, 1871, TO July L, iooi''' iI'Ooooo- -
s3l.I7O,61s SO
Inter- ST paid In cash since july /, u on, Of, "a
lS7l..... ACKNOWLEDGEMENTS @'"-' - -
s2s,s49,sO6 IS
Interest paid In coupons since July = On, OH on
i. IS7I..........'.'.'.'
s2l.O27,3S9 So
REDEEMED by sinking Fund since on, ,.o 40
July l, lS7l.......'...'.''''''''' o,oe -. -
vrs,n,,,. hast debt $50 20
h0d four years war'interest de- koee114 az
Quoted above ..............s '''''' o'"oo'1I' ~
s2O,44o,7ss a6
NE have repeatedly had TO recall the
nbio's attention 10 the spending ques'
tion.v In a word, instead Of controveriing
The allegations in the Wigs "decara-
tion.v we demur TO ii. II we admit The
above statement to be true, the main ques-
ton is still untouched-nameiy, now DO you
nronose TO Get rid honestly OF an obligation
Tor which your own Legislature, your own
Governor. your own highest judicial tribu-
nal-your own and only recognized
agents. in word-haye over and
over again in the most solemn man.
ner declared your responsibility Inc
debt of Virginia in 1871, as ascertained by
her proper officers, was about forty'hve
millions of dollars. She assigned one third
OF il to West Virginia, and Issued bonds
promising TO nav the other two thirds. Upon
so many CT those bonds as are called soon
solsv their interest has been paid by receiV-
ing their coupons for taxes. Upon so many
OF those bonds as are chilled "peelers" but
lille interest has been paid. Most OF these
bonds (both classes of them) have no DOUBT
changed hands since 1871. Almost all OF
them are no doubt ia the hands OF
innocent purchasers who bought them be-
cause The States own agents had pledged
her faith for their payment. III the contract
made with Governor WALKER and the Leg
jslaiure OF his day is not binding, how will
you render binding a. contract made by
Governor MASSEY and his Legislature !!
How are you TO escape the dread charge OF
reputation at the hands OF your bondhold-
ers il you undertake TO scale down Vir-
glnis's indebtedness 10 them, as the RID
pLEBERGER bill proposes to scale it DOWN.
We need lot elaborate the point. The
Wig will understand it. Let it meet it
not with deuunciations OF WALKER, or
KsxPER, or the Legislature Of 1871, nor
with the statement tha: the funding bill OF
1871 would have been defeated but for the
negro or Republican members Of the Legs-
lsture. Let us have an argument as
"square - as your statement quoted above.