Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1881-01-28

Il Il
OPINIONS OF DISTINGUISHED
MEN ABOUT THE PUBLIC
DEBT
In the last two weeks three of the most
distinguished men in the State have given
the people their opinions at length.on the
way to settle the public debt of the State.
The first is Gen. Malone, whose views are
made known in full through an interview
published in the Press, y a prominent Re-
publican paper OF Philadelphia. They are
the same views our citizens have been
reading for several years past from the pen
of the General OF some other member of
his party. There is nothing new about
this presentation Of them, except the
channel through which it is made to the
world, somewhat unusual way for a Vir-
ginia Senator to reach the ear of his con-
stituents on local State question.
The next is Senator Johnston of Vir-
ginia, in letter in reply to Gen. Malone
which for the thoroughness with which
the matter is treated, and for familiarity
with the financial legislation and condi-
ton of the State is marvel. BY resort
to both Readjuster and Funder official'au-
thority he controverts so many of the
points made by the General that man
who has read them for information feels
that he has lost that much time. Senator
Johnston shows by reference to the census
returns how groundless is the plea that
Virginia is beggared. In concluding, he
avows that Independent of all political
considerations or personal ambitions, the
REIMBURSEMENT of the State debt is vital
necessity for the State herself, but it must
not be forcible one.
The last letter is from Hon. A. Fl. II.
Stuart, who like Senator Johnston address
SEES Virginians by channel through which
he is most likely to reach them. He sug
gests that, as it is provided in the original
funding bill of 1871 that the bonds issued
under 1t may be redeemable at the pleasure
of the State ten years after their issue
that is to say in 1881, the State shall go
into the market and borrow $2O,0O0,OO0 at
4 per cent. to pay off the receivable coupon
bonds. Then give new non-taxable bonds
to the holders of peelers, and the remnant
of old unfunded bonds amounting in all to
about $lO,OO0,0O0. The holders of these
he thinks would gladly make the exchange
and he is not certain that some of the hol-
ders of the consol bonds wonld not do the
same. He is very hopeful that Virginia
has not so entirely lost her credit that
when the United States is borrowing mon
ey at 8 per cent. she cannot borrow at 4
per cent. He says: SIT is apparent to all
'smen that Virginia is now standing OIL
s'firm ground, and that she is about enter
ling on new career of unprecedented
prosperity. Pennsylvania, Maryland,
esIllinois, in other days, and from causes
''of less magnitude, were compelled to
snake default and seek indulgence from
s'their creditors; but all that has passed
''away, and their credit is now firmly re-
established. So will it be with Virginia.
''She has only to show her purpose to full
''fll her obligation with honesty and fdel-
'sity, and helping hand will soon be ex-
tended to her. The present disorganiZed
condition of her finances is an obstacle to
''the advance Of the general welfare Of the
country as well as hindrance to her own
growth and prosperity. The people of
''other states will, therefore, have an in
''terest in aiding her to the restoration of
''her credit
We cannot say that we have much faith
in the practicability of Mr.. Stuart's plan,
though we heartily admire his hopefulness.
On the debt question the Federal govern
ment and Virginia occupy precisely oppo-
site grounds. While one has made every
sacrifice to pay its creditors the other has
made every effort to defeat their claims
There is not market in the world in
which we have any hope that she could
borrow twenty millions or even one mil
lion. Mr.. Stuart's suggestion of a joint
convention of the Republican and Conser
vatiYe parties to unite on some plan for
settling the debt and pledge themselves to
support no man for the Assembly or high
state office who would not bind himself to
carry it into effect, seems to US hardly
warranted by the history of the Republi-
can party in connection with the state
debt since it became matter of discussion
Indeed, if we are not mistaken, it is but
few weeks since we read from the pen of
one of the very gentlemen whom Mr..
Stuart does not doubt would join in the
joint convention proposed, proposition to
keep Republican ticket out of the field
Fol f1of ha
might have full swing in the state election.
We fear that while both Mr.. Stuart's
financial and political suggestions are en-
minently patriotic, neither of them are
practical.
THE LATE BISHOP ATKINsoN.-The
late Bishop Thomas Atkinson, S. T. D.,
LII. D., of whose death brief mention has
heretofore been made, was one of the last
survivors of the class of Judge fuckers
Winchester Law School, Of which Gov.
Henry A. Wise. Hon. VIM. Cost johnson
and other distinguished men were mem
beers. The Hon. r. M. T. Hunter, the
Winchester ''Times'' thinks, is now the
only living member of the class.
Bishop Atkinson was the first of his
family who came to the Valley. At later
date the Rev. VIM. NJ. Atkinson was
called to Winchester, to the charge of
Kent street church, and two of his sisters,
Mrs. George Burwell, of Carter Hall, and
Mrs. Page, the mother of Mrs. W. N. Mel
son and Mrs. r. H. Lee, settled in Clarke.
Bishop Atkinson was born in Dinwiddie
county, Va, and was educated at Yale
and afterward at Hampden Sidney College,
Va, graduating from the latter institution