Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1881-12-16
GOVERNORS MESSAGE.
COMMONWEALTH OF VIRGINIA,
GOVERNOR s OFFICE.
RIcuNrONrn Dacpmbar 9TH 1881.

tIeTltteflle7l OF tne Sel0te GnW hotSe W Oeeo-
gates:
Four years ago tie discussion Of the |
State Debt was actively be. un, and legis-
latlon entered u on looking to its settle
ment, at the session of lS77-7S. the Cen
eral Assembly passed bill having that
object in view, which was returned with
out the approval of the Governor, with an
assignment of his reasons This was the
bal bour Bi L." and was one of force upon
the creditors.
Toward the conclusion of the same SEES
sion, another bill was passed without Cnls
object ionable feature, and contained u
scheme of settlement IN the nature OF
prop, sition. and submission to the c,td-
itors for their acceptance or rejection. THIS
regarded as the OILY proper mode in which
a fair. honorable, and satisfactory settle
uent could De reached, and had so stated
in response to resolution of the Senase.
No question had then or has since beei
raised as to the validity Of the debt in its
creation. Every dollar had been obtained
from trusting creditors, before the war, by
the State, through her constitutional au-
thorlti-s, and had been invested in values
which survive to this day, and are now en-
loved by her citizens, increasing Their
wealth and c,mfort, AID the power of the
Common wealth, beyond computation.
felt that then, for the first time 0Irlng
the session, the proper course was pursued
aud approved the bill, looking upon 1T as n
proposition to the creditors aud he basis
for further negotiations. This was called
the Fowler Bocock Bill.
so soon as the General Assembly ad-
iourned. proclamation was issued Accord
ing to the terms of the bill, and | entered
into correspondence with the creditors or
their represent ttives, in this and foreign
countries, which resulted in responses
lom them and propositions. which SUBJ
united in my annual message OF Deem
! sqer, 1873
The General Assembly had already adop-
Aed the most rigid and severe measures OF
seeonomy and reform, and had reduced
toe expenses, as it supposed. to
minimum 1t now went to work with The
greatest energy and, after much confer
enee and deliberation, ADOPT ed what is
called the 1O-4O, or ''McCnlloch BIZ" Dy
| large majorities of both houses. 1t seemed
| that our troubles were about to end, and
the debt question to be finally taken from
the field Of politics, in which it had no
business, and into which it ought never to
have been dragged. 1t met with wide
spread approval and was generally regar-
ded within, and universally, as far as
| [ know, without our own borders. as
reasonable, honorable, and fair disposition
| of the troublesome issue.
| Agitation, however, was at once begun
| by its enemies in the State, and at the
next election they we're successful at the
polls. notwithstanding the assaults made
upon it. in a few months the sum of S.
| Isl. 9S1. 81. nearly one-third of the debt,
I was funded u der its provisions. Of course
the agitation and its result stopped any
further proceedings
Its defeat regard as very serious ca
lamity. showe,., in my last annual ms
sage. how c0mple'e was and would have
been its success in restoring virginia once
IN re t. quiet aud prosperity. From the
tables then given, it was manifest that,
had it not been interfered with, it's work.
| ing would have lifted us, under the pres
ent rate of taxation. entirely out OF EN-
/ barrassment and. after paying all interest,
the costs of the Public Schools and the
expenses of Government, would have left
in the treasury more than three hundred
Thousand dollars.
The bill remains still upon the statute
book, but of course imperative by reason
| of the action of the General Assembly.
The State debt was again taken up at its
session of 1872 80, and the opponents OF
the .'McCulluch Bill having a majority
of it's members, adopted what they styled
"a Bill to ke-establish the Public Credit -
commonly called the "Riddltberger Bill, !"
repeating therein former laws for the set
tlemeLt of the debt. This bill, by stroke
of the pen, ''eliminat s" to use Its own
gentle phrase. more than one third OF the
hitherto ascertained debt. admitted and
reported by every fi-c j officer Of the Gov
ernment and approved 10y every General
Assembly that has convened since the
debt was contracted; it eliminates one
half of the promised interest upon the res
idue-indeed, proposing and pledging itself
to pay no certain amount OF In crest. but
only such sum as may be in tine treasury af-
ter future General Assemblies have dispos-
ed of what may seem 10 tiem proper-ln It's
own ansuage, that may not be otherwise
appropriately it then eliminates" near
ly. if not quite all that may be left by sub
jecting iC to the State, city and county
taxes.
When | reflected that this treatment was
inflicted upon debt for every doll II OF
which consideration had been r. celved;
when reflected that that consideration
had been invested by our fathers, as pure
and knightly men d, ever lived. in eeva-
ting and making strong commonwealth
which they loved to Grafton, promising
that they and their children would honor
and paw it: when | Effected that 1t sur
is; when l reflected that she had, through
her representatives, renewed the promise
from year to year. through her organic
law and legislative enactment; was con-
strained by the obligation Of my oath, and
by every reason that could prompt intelli-
gent and honorable action, 10 return the
bill to the body in which 1t originated,
without my approval. "because | believed
it to be in violation of the Constitution OF
l ,in1o Of % N OF INT n N
\ of the United States, in violation OF the
spirit which has ever moved and inspired
\ the traditions of the Commonwealth, and
| made her name 50 dear to her own citizens
| and SO hOnOred among men, am not
| willing Eow to revoke or blot one word of
| that utterance.
The bill failed to become a law for the
4 want of the requisite majority over the
4 Governors veiO.
1t is very far from being grateful duty
4 to exercise this constitutional power. LII
would he far more so to agree with the CO.
ordinate department of the government. |
have scarcely thought it necessary to no
| tice the frivolous charge, that | have
usurped powers which belong to the legis-
latiVe branch of the government, and have
thwarted the will of the people, as ex-
pressed through the majority OF the Gen.
eral Assembly. Made by the cons tuition
the representatives of all the people OF the
State, without distinction of party, and
sworn to use the veto over to protect It's
provisions, need not Say that | could
hardly be guilty of the baseness as well as
folly of its surrender. 1t is very true that
the legislature is the proper b dy to settle
the debt question:; will state it even more
strongly. it is the only body that can. But
it must be done within its constitutional
limitations. Ard those very limitations
provide way in which the veto may be
overcome.
Whist the exercise of this power is not
grateful, it is not now practically any
cause of regret. Had the bills been APP