The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1881-04-27

pose W crlVicISe IN iio otlpnS Sol@S1rgin-
ia in relation to her public dabt.
Those who understand the great
losses and financial reyerses that
have come to that State by the late
war; the disposition shown BY her
people to arrange satisfactorily with
her creditors to restore her public
credit must sympathize with her in
her efforts to get her debt in such
shape that she could meet the inter
est on her obligations. In her pros
perity and power, as a virginian l
was proud Of my nativity, aud in her
reverses and trials honor and SYM
pathize with her. But for stronger
reasons ! am jealous that no mus
tice shall be done to West Virginia.
West Virginia's relation to the
public debt of Virginia is misunder-
stood, and has been greatly misrep-
resented in financial circles through
out the country. Inquiries are re-
peatedly 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 indebted.
ness issued by the State of West yir-
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 pro.
vision to ascertain what portion of
the debt she should bear. The Sen.
ator from Virginia [Mr. Malone in
this connection says-I quote iron
the Congressional Record Of March 81:
Mr. President, if there is any man
in the party which my colleagu rep.
resents who agrees with anether
member Of that party in Virginsa as
to what the debt of that State i& we
have yet to find the concurrence; it
is with ope leader this figure, with
another leader another figure; by one
report of their officers one sum, and
then by another report Of other Off
GERS o different sum. Grant that
sum to be the true one; but let the
Senator state that our constitution
recognized no specific sum, 1t says
there shall first be settlement with
West Virginia, which has not yet
been had, and commands payment of
what Virginia shall owe. That is
the language, that is the construc-
tion of the constitution of Virginia;
tnat, after settlement with West
Virginia, covering one-third of old
Virginia's territory, shall have been
arrived at by an adjustment of their
relative proportions of the public
debt, Virginia will provide for her
share. Now | would like the sena-
tors from West Virginia in this cry
against re.adjusters as repudiators to
tell the country what answer they
have made to their obligation for one
third of the debt contracted by the
old Commonwealth of Virginia.
Will they tell the country where they
have ever made proposition to pay
one silver of their share Of the public
debt Of that State to maintain the
honor and the dignity of their own
Commonwealth? Let them answer.
Mr.. President, as it will be my OBJ.
ject to vindicate West Virginia by
stating the facts in relation to this
question as they have occurred, and
to avoid discussing the merits Of the
question or the equities between the
two States, cannot do it better than
by presenting the record and history
of all that has transpired 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 Vir-
ginia to provide for the formation of
new State, provided that
The new State shall take upon
itself the just proportion Of the pub
lie debt of the Commonwealth of Vir.
ginia prior to the LIST day of January,
1861, to be ascertained by charging
to it all State expenditures within
the limits thereof, and the just pro-
portion of the ordinary expenses Of
the State government since any part
of said debt was contracted, and de.