The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-12-16
The state Debt.


We have received from Philadelpnia a
communication, written by gentleman
hearing a historic Virginia name, advising
the people Of this State to organize new
party for the sole purpose of securing the
payment OF the State debt and preventing
The stigma OF reputation from being placed
upon this honored old Commonwealth.
Our correspondent seems to be totally III
the dark as TO the state Of thingsi in virginia
The first statement in his letter Is evidence
full and complete on this point. "Vir-
ginisns residing in other States" are, II
would seem, as poorly informed in regard
10 Virginia matters as persons who never
lived here-that is, II the letter before US
NAV be taken as conclusive evidence.
Our correspondent declares that the Re
adluster victory Of November was by no
means a fair test of the sentiments OF our
people OH the debt question. That declara-
ton may be true enough. We suppose
that more than hall the voters who sup
ported CAMERON did so without reference
10 his views on the debt question. But
when our correspondent assumes that sue
cess would attend hereafter the "com'
bining OF leading men Of both parties d"
upon platform declaring that "this is not
a party fight" but one for the preserVa-
ton OF the States honor, he shows ut
once that he does not know how the
voters were divided in the late election.
There is now no Republican party in Viz
ginia worthy Of the name. The voters are
all either Mahoneites or regular Democrats.
or the Mahoneites the negroes care nothing
about the debt. But the "leading men,
whom our correspondent proposes to toll
into a debt-paying party, are whites and
are out-and-out Rcadiusters. His, there
fore, il nothing more nor less than pro-
position to try to get these "leading men "
20 abandon their own party on the very
issue which induced them TO join that
party. To state this proposition is to show
that it is impracticable.
We record these facts for the benefit Of
other Yirginians residing outside OF this
State who may be Lboring under the same
sort OF mistaken notions TO which we have
alluded. And we will add that it is our
decided conviction that there will never
be another contest in Virginia over the
debt question. The present Legislature
will pass some sort OF resdjustment or re-
pudiatiOn measure. IL will be submitted
10 the people for their ratification or rejec-
ton. II will have to meet no competing
proposition. and will therefore be ratified
as 4 matter Of course, rs would a measure
proposing to reduce the State debt to ten
millions OF dollars, or, we suppose we
might say, one repudiating the entire debt.
The fight will then be transferred to the
courts. These constitute the last line Of
defence OF the bondholders. What the re-
suit will be in the courts is not absolutely
certain; but everybody knows that it is
next to impossible to compel State to pay
a debt it does not wish TO pay.
The regular Democrats OF Virginia will,
we suppose, organize hereafter upon ma
tional questions. Ii was false move when
they first abandoned national issues upon
the invitation of the Mozart-Ilall Conven-
ton and accepted the issues offered them
by this Convention. That is. II appears so
now, though at the time we were as ready
as "Lord LOWELL " to take up the gauntlet
thrown down by the Readiusters. II the
Democrats reorsanize upon national issues
they may regain their ascendency in Vir-
ginia. They will never succeed in doing
so II they follow the advice of our Phfla-
delphia correspondent.