The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-06-30
The Possibilities of the Future.

The Possibilities of the Future.
The Richmond Dispatch is putting itself
to unnecessary trouble about the position of
the VIRGINIAN in the approaching cam
paign. 1t certainly need not flatter itself
with the hope that this paper will advocate
any policy that would likely aid the pro-
scriptive and intolerant sentiment the Dis
patch represents in perpetuating control in
Virginia. We believe it is not only the die
tate of principle but of policy for the Re
publicans to place in the field straight
Republican ticket. The present and future
integrity of the party demand it. We
further believe if that shall be the policy of
the Convention which is called to meet in
Staunton on the oath of August, the
chances for the defeat of the Bourbon ele-
ment of the Democratic party would be far
greater than they would be under any Goa
lition colors. We shall urge this policy. as
best we can, upon the acceptance OF the
Convention. Should fairly constituted
Convention. fairly representing the Re-
publican sentiment of the State. decide
against these views, We shall abide such
decisions and support whatever policy is
then determined on. We do not claim to
possess all the wisdom Of the party with
which we are identified, nor are we an advo-
cate of the ''rule or ruin" tactics In poll
tics. We shall very earnestly discuss the
situation from our stand point and use all
legitimate means to impress our convictions
upon the public mind. Should the views
we maintain fail of acceptance, then there
will be but one course left for us to pursue,
and that will not be in the wake OF the
Richmond Dispatch. The party it repre-
sents is governed by no higher standard of
State credit than the opposing faction of the
Democratic party. Indeed the Dispatch has
publicly declared that the State debt may
Ego to the dogs" if it is in the way
of the success of the faction of which
it is shining light. 1t attaches more
Importance to the treachery of the Con-
sentative party to the pledges it made
in 1869, than to the rights of the creditors
and the honor of the Commonwealth. 1t
is because we believe in the sincerity OF
neither of the Democratic factions, that we
urge the Republicans to stand to their
principles and their organization. The Re-
adjusters have given some assurance that
they will endeavOr to restore the COnstitu
ton to its original promise and purpose as
they affect the elective franchise and the
public schools, and blot from the statute
book the cruel and brutal whipping-post
law. In these they are in advance of the
Bourbon faction, and to that degree have
our sympathy. Practically the debt
question is not serious matter in
this controversy. The Courts have re-
lieved that of muchs Of its complications.
The remaining sl5,000.000 per cent. tax
receivable coupon bonds funded under the
law of 1871, and the IS, 900 200 of 8, 4 and
funded under the law of 1870 are beyond
the reach Of demagogues and regulators,
whether Of one faction or the other, and no
legislative device, in defiance of the decl-
sions of the Supreme Courts of the State
and Nation can change the nature or char
acter of these obligations. The remaining
Sc, 000, 900 of peeler and unfunded debt no
party or faction wants to discriminate
against. They will be allowed the same
conditions that the holders of the coupon
debt are entitled to under the decisions OF
the Courts.
The reliance of the Re-adjusters to re-
arrange the debt, standing as above stated,
is the certificate feature of the Riddleber,
ger bill. 1t is designed by that to depre-
ciate the coupons, and then, assassin-like,
stab the honor OF the State and debase the
moral sentiment of the people. The Courts
will guard against any such disreputable
circumyention of their decisions and see
that their own dignity is respected, even
should the people at the polls commit them
selves to such indefensible and fragrant
wrong. 1t is to demand an expression of
popular opinion upon the decisions of the
Courts and the Riddleberger bill, as well as
to preserve Republican organization, that
we favor the Republicans entering the COIL
test as distinct organization, with dis
tinct formulation of principles and distinct
representative men. The opportunity
would be thus given for the people to de-
eide between the open proposition OF the
Re-adjusters to defy the Courts and repu-
diate certain portion of the acknowledged
debt; the covert and less manly and honor
able course of the Bourbons, to abandon
the debt issue, making the retention of the
capitatiOn tax restriction and whipping-post
law the paramount issues, so as to influ-
ence race passions and disturb all the rela-
tions of society and the Republicans de-
handing an expression of public sentiment.
upon all the questions at issue. vindicating
the integrity of the Commonwealth as to
its financial obligations and the good faith
of 1869. A declaration by the people in
favor Of the position the Republicans would
necessarily take. would at once establish
State credit. remove distrust and doubt,
and place under her control the entire in
debtedness of the Commonwealth
Confidence once restored in the honest in
tention to pay the debt as settled by the
decision of the Courts, and by the equity of
the case, would enable us to 90 into the
markets of the world with our and 81 per
cent. bonds with an assurance of placing
them at par for sufficient amount to retire
the 5000, 900 of six per cent. bonds, re-
deemable after the LIST of July. and the
$6,O00,0 900 of peeler and unfunded debt,
thus reducing the interest charge some
100000, and settling the whole debt con-
troversy without additional burden upon
the people, and with an early prospect OF
reduced taxes, by reason of increased taxa
BILE resources.
We believe it to be in the power of the
Republican party to accomplish these re-
suits for the Commonwealth by united ao-
ton In support of its principles and can
didates, and we believe it to be no less its
duty to do so, in justice to itself and its ma
tional identity. Where the way is so plain
for the maintenance of the cardinal prin-
ciples of the National Republican par
ty and its rescue from the dangerous COM
plcation which threatens it in this State.
and the results to the naon1a ca fulI of ac