The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-01-20
Gen. Mahone's Interview.


Wepublish to-day the statement of the
Tirginia debt question, as recently given by
hen. Malone in an interview with num-
er OF Northern gentlemen in Washington
ity. Its great length should not preclude
ts careful reading, for it presents in
clear and concise arrangement
he various attempts to adjust and settle it.
The general features of the statement, so
ID by the Legislature are concerned. are
correct. While it constitutes
an intelligent and perspicuous presentation
Of this legislation and the relation the debt
bears to the State an the creditors, it is at
the same time severe and crushing ar
raignment OF the Conservative party, and
Gen. Malone with it.. AT no time in the
history of that organization up to its disas-
trous disruption in 1879, was there within
Its ranks any one member whose influence
was so great or whose will was more poten
TALLY impressed upon its councils. He was
the central figure to whom all paid defer
ence. He dictated the policy and nominees
Of Conventions when it was his inclination
to do 80. He shaped the legislation of the
law making power with an arbitrary asser-
ton of authority that none could success
fully resist. How far he felt interested in
the debt question previous to 1877. we are
not prepared to say; but it does not admit
of question that had he at any time from
the organization of the Conservative party
in 1869 to the date of its disintegration
chosen to have done so, he could have ex-
erteda powerful and determinative influence
In its settlement.
In 1877 he was first recognized as prom
inent advocate of REIMBURSEMENT. The con-
test of that year was conducted on the part
of the Re-adjusters against the Funding
Bill of 1871, and in favor of settlement so
far as the formulation of the principal and
accrued interest of the debt were involved.
substantially the same as is presented in the
McCulloch Bill. twenty millions of prin-
cipal, at six per cent. and non-interest
bearing certificate of Indebtedness for the
per cent. on the capitalized debt OF thirty
millions, embraced, in effect. the PROPOSE
tion of the Re-ad justers. The contest was
animated and the result all that was asked
or expected by the Re-adjusters. They car
ried the Legislature, and as result the
McCulloch Bill was passed, some of the
Re-adiusters abandoning the grounds upon
which they had made the issue, while
enough of the Funders came into the terms
to perfect the legislation. 1t was objec
tionable in some of the features of its detail.
which are very forcibly exposed and to
some degree exaggerated in the statement
of Gen. Malone.
1t was during the tendency of this bill, we
Enthusiastically during the time of the
session which enacted it-that Gen. Ma.
hone in prepared speech in the Mozart
Hall, before an assemblage of Re-adius
tiers, stated the amount of the debt to be as he
understood it s32.OOO.0o0. upon which he
expressed willingness to pay three pei
enthusiastically the Ross Hamilton Bill
emitting the taX-receivable coupons.
The legislative canvass of 1870 was made
with the McCulloch Bill as the issue. the
opponents of that bill-the new order O.
-adiusters-obiecting to the terms ant
details of the measure but not to the
amount of debt it recognized. so far as We
heard the question discussed before the PEG
pie. with the exception of Capt. Riddleber
ger, who presented the main feature in tina
contest which was afterwards incorporated
into the bill which bears bis name, and Mr.
Massey, who argued for the recognition
of much less amount, if any at all.
The Re-adjusters, of this modified per
suasion, succeeded in electing Il majority O
the Legislature in 1879, and as resul
thereof, the Riddleberger Bill was passed
by both branches of that body, but failed
to become law by reason of the interpo-
sitiOn of the veto of the Governor.
With the exceptions we have stated, the
terms of that bill were never discussed be-
fore the people-they have never had ar
opportunity to pass upon its merits at thu
polls, and there is, therefore. no authority
for the assumption that it is a reflection O.
the popular will. But it is the measure
upon which the new order of Re-adiusters
have planted themselves, and Haunted 'chal
lenge of strength In the face of those who
do not endorse it.
We question the accuracy of the assump
ton that it is the wish of the people o.
-;,;c -, %la ban ~,
measure of the settlement of the deb
. question. There has been at no time any
proposition presented to them from the
hustings which contemplated a population
ginia's liability for the debt as it existed ir
1870. That this bill does repudiate about
$13.000,000 OF it does not admit of serious
debate. The argument that the State Is moi
bound for the interest which accrued dur
ing the war and the period of reconstruc
tion Is fallacious. and cannot be sustained in
any legal forum. Jurists and writers on in
ternational law have maintained that as be-
tween citizens of hostile powers interest
abates, because the sovereign authority Of
Lie Otdtc Iidu 81 ulspoStu VI Tic
lions existing between such powers. thai
it would be impossible for the citizen to
discharge his obligation. But the State it.
self cannot claim such exemption. She
cannot take advantage of her own wrong
and plead condition which she has volun-
tarily invited, as relief from the obliga.
tions of her debt.
The supporters OF the Riddleberger Bill
maintain otherwise. but they do not place
SO much stress upon this point as upon the
inability of the people to pay more than is
stipulated for in this measure, including
the expense Of government and support OF
the schools. To this they have addressed
themselves with great deal of forethought
and adroitness, not to ascertain how much
should honestly be paid and the extent OF
the ability OF the people to pay, but how
they can justify the assumption that the
demands of this bill are the measure of their
ability. AS much as two years ago, one of
the leading re- adiusters assumed that the
assessments of 1880 would show a decrease
of values as much as 20 or % per cent
when all the visible facts would point to a
conclusion just the reverse of that. 1t has