Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-04-29

49, ~ WV VIVA
please readjusters more than to brinI
about such a condition Of things il
the Old Dominion. But the point il
connection with which | alluded t,
obligations of contracts was as I,
the rights Of the creditors to consult
alton. | showed that a provision o
the constitution of Virginia and (
provision of the constitution of thu
United States declared the actually
of a basis for those rights, and | drew
the inevitable conclusion that, such (
basis existing, the claims of the cred.
itors were rights that could not be in,
terfered with without their consent
On this ethical point | refer "T. d.
to "Calderwood's Moral Philosophy
Websterls letter is doubtless very in.
teresting reading, but | can't see how
it can interfere with the natural in
ferences | have drawn. The fact is
believe ~. D." himself got things
mixed. Nor do l deny that a
state has rights. j deny that !
deny it. A state has a right to do
thousands of things but when she
gives her note or bond, she transfers
a perfect right along with it. She has
only duty like any individual, and in
case Of distress she ought to pay what
she honorably can, and with her cred
itors consent.
Sarely I'D. T." is joking again when
he undertakes to show that the fund
ers are forcible readjusters, as well as
the readjusters proper. In his first
article answering mine as to the differ
ences between finders and readjusters,
he admitted that the funders were in
favor of consulting the creditors and
yet, in his present attempt, he under
takes to show they are not What
consistency Not only were the cred
itors consulted by the funders in the
only way possible, by representation
Of those holding the major part Of the
debt, but the creditors generally
showed their appreciation by funding
as quick as possible under the act, till
the Malone party put a quietus to
further action on their part by pro-
posing a very remarkable bill styled
the Riddleberger bill, of which | shall
say a few words towards the close of
my article. Nor is there a particle oil
force in what II. d." says about
Virginians being already irretrievably
committed beyond the hope Of re-
demption to reputation by their
action in not honoring bonds issued
during the late war to raise money to
pay for the clothes and food of the
wives and children of Confederate
soldiers.
As well might the southern states
be held accountable for the immense
debt incurred in aid of the Southern
Confederacy. But the consti ution
of United States declares, "neiLher
the United States nor any state
shall assume or pay any debt or obi
CATION incurred in aid of instruction
or rebellion against the United States. :"
And yet, more to the point, the very
constitution whose adoption was made
the condition of Virginia's re-entrance
into the union, contains the following
provision: mo appropriation shall
ever be made for the payment of any
debt created in the name of Virginia
by the pretended state authorities
assembled at Richmond during the
war" Where is now your constitu-
tional law, "T. DIP" and is it not
plainly seen from these quotations that
Virginians were allowed no freedom?
Moreover, | deny hat the funders at
tempted to repeal the act of 1871; |
quote the Richmond State of April
%: THE proposition (of 1871 was
not only made to the creditors and
acceptable to them, but was gladly &C
accepted by the greater number, and
would have been by all, but for its re-
peal by the next legislature, which
unfortunately had a readjuster major
ity among its members"
| deny that the democratic party
tegan in 1923. Every one knows that
the immortal Jefferson was its found
sr, and if "T. D." will take the trou-
BILE to examine Alexander Stevens
History Of the United States. he will
ind that the party of Jefferson was
called the democratic party as well as
republican party. 1t came into power
with Mr.. Jefferson in 1901, and by
the eniofMo sadministration had
buried the old federal opposition,
with the exception of a feeble rem
lant, far out of sight. This rems ant,
n j. Q. Adams administration, unit
I'd with disaffected democrats, and
formed a new party, known as the
national republicans. The name
democrat now became the sole title
Of the democratic party. Beginning
with Jefferson, the democrats have
been victorious in thirteen presidential
campaigns, leaving to all other parties
hat have ever figured in the United
States but eleven national victories.
La other words the democrats have
ruled ffty.two years. and all the other
parties, reckoning from the admins
Of Washington to the present
year, but forty. This is a glorious
Till Harrison's election the
retained an unbroken sue.
Of authority for forty years.
this election many prominent dem
having become disguised with
the dictatorial and arbitrary charac-
ter Of jackson and with the corruption
OF the Van Buren, administration.
compromised with the national repub.
and formed a new party called
the wings. But Clay, the leader Of
the national republicans, and these
democrats notgetting on we'll together.
to an attempt Of Clay to carry
out national republican measures, the
democratic wings coalesced with their
old brethren who still retained the
name Of democrats and at the next
election helped to achieve a great VIC
tory.
1 agree, in a certain measure.
with IT. D." when be says that
~ 10 Rha1. LII