Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1881-04-23
THE DEBT QUESTION.
Speech of Hon. j. n. Cam
den. of West Virginia,
i'm the Senate of the
United States.
From the Congressional Record Of Tues.
day, April IL, 1881.

day, April IL, 1881.
Mr.. Camden-Mr. President, in
the discussions of the last few days
Senators have taken occasion to
refer TO the relation which West
Virginia sustains 10 The debt OF
Virginia 1t has been charged
that West Virginia has shown no
disposition TO ascertain or provide
for the payment of her proportion
of the debt. and were it not that
Senators on the other side Of the
Chamber who evidently do not
understand what has taken place
in regard 10 this question, have
made statements rejecting opon
West Virginia which are not sus-
trined by the records and the facts,
l should not have taken any part
in discussion at this time.
In what | may say / have no
purpose to critici3e the action OF
Virginia in relation TO her public
debt. Those who understand the
great losses and financial reverses
that have come to that State by
the late war, the disposition shown
by her people to arrange satisfac-
torily with her creditors to restore
her public credit, must sympathiZs
with her in her efforts to get her
debt in such shape that she could
meet the interest on her obliga-
tions. In her prosperity and
power, as Virginian [ was proud
of my nativity. and in her reverses
and trials / honor and sympathize
with her. But for stronger rea-
sons | am jealous that no injustice
shall be done TO West Virginia.
West Virginia's relation to the
public debt. of Virginia is misun-
derstood, and has been greatly
misrspresented in financial circles
throughout the country. Inquir-
les are repeatedly made from all
quarters in reference to what are
often called and quoted as "West
Virginia certificates" and with
many persons the opinion prevails
that certificates of Indebtedness,
Issued by the State of West Vir-
ginia, or by her consent, have
been selling on the markets at
from eight to twelve cents on the
dollar.
On the other hand, it has been
charged that West Virginia has
shown no disposition to enter into
any adjustment or to make any
provision to ascertain what por-
ton of the debt she should bear.
The Senator from Virginia Mr..
Malone in this connection says
/ quote from the Congressional
Record Of March 81 /:
Mr.. President, if there is any
man in the party which my col
league represents who agrees with
another member of that party in
Virginia as to what the debt OF
that State is, we have yet to find
the concurrence; it is with one
one leader this figure, with an
other leader another figure; by one
report of their officers one sum,
and then by another report OF
other officers a different sum.
Grant that sum to be the true one;
but let the Senator state that our
constitution recognizes no spec
ific sum. II says there shall
first be q settlement with West
Virginia, which has not yet
been had, and commands pay
ment of what Virginia shall owe.
That is the language, that is the
construction OF the constitution OF
Virginia; that, after a settlement
with West Virginia, covering one
third of old Virginia's territory,
shall have been arrived at by an
adjustment of their relative pro-
portions of the public debt, Vir-
ginia will provide for her share,
Now i would like the Senators
from West Virginia in this cry
against r'adjusters as regulators
to tell the country what answer
they have made to their obligation
of one-third of the debt contracted
by the old Commonwealth of Vir-
ginia. Will they tell the country
where they have ever made o
proposition to pay one silver OF
their share of the public debt OF
that State to maintain the honor
and the dignity of their ewn Com
monwealth Let them answer.
Mr.. President, as it will be my
object to vindicate West Virginia
by stating the facts in relation to
this question as they have occur
red, and to avoid discussing the
merits of the question or the equi-
ties between the TWO states, can
not do it better than by presenting
the record and history of all that
has transpir5d between each of the
States on this subject.
The ordinance of the Wheeling
convention of August 20, 1861,
which was the first convention
held in Virginia to provide for the
formation of a new State p~Ovi2