Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1881-03-23
Senator Malone.

as the COl0r-Dearer OF tne new Souun us IL
wheels into line with the new order Of
hings. lie has brought, we are assured,
into the ark of human liberty the "olive
leaf plucked off " which announces the
abatement of the waters of civil strife and
sectional animosities from off the fair face
of this Union. General Malone was not
allowed to unfurl his colors unchallenged.
On the day when the sunlight shone on the
nation through this first rift in the solid
south, the senate rang with strong remind
ers of ante-bellum days A typical south
ern Bourbon was put forward to begin with
innuendoes an assault that developed into
wrathful denunciation. The man, this new
senator from the Old Dominion, whose con-
victions of duty, whose ideas Of true indie
pendence, compelled him to vote with the
republicans in the organization OF the SEN
ate, and to indicate his purpose TO burst
from the thralldom of those malign intlu-
ences that have so long fettered the south,
was coarsely branded as traitor to his
party and to his constituents. The BULLDOG
ing attack of the burly Georgian was chiv-
alrously met by its immediate object. Ben
Hill essayed to "smoke out the Virginia
senator. His success was phenomenal. The
occupants of hornets nest never responded
with more eager alacrity to the match of
an adventurous boy and the "active sim
ews +" of youth were never more devoutly
invoked than by the Georgia senator to pro-
tect him from the waspy stings of the fiery
little virginian's piquant tongue. The hon
ors of the day were CALAMITY borne away by
Malone. lie left no doubt on the mind of
any democratic senator as to his position
and his ability to maintain it against all
corners.
Very naturally General Mahoneis assailed
with bitter TRADES by the Bourbons and
their mouthpieces of the press. With graf
flying words of appreciation, leading expo.
nents of wiser and more patriotic phase
of southern feeling regard his course as
ushering in the dawn of better and happier
days for the south, in which generous en-
ulation in national progress, in peaceful arts,
and in the development of the higher aims
and objects of government especially ded-
icated to human liberty, shall take the place
of the fierce conflicts of past era. In view
of these partisan attacks on Senator Ma
hone it may assist to do him justice briefly
to review his career. The trusted lieutenant
of General Lee and his choice as his sue
cessor to the command of the Virginia
army in the event of his DEATH he accepted
the results of the war in their full and true
significance. lie first came into conspicu-
GUS public notice in connection with the
financial affairs of his state. When events
had made him representative Virginian,
in justice to himself and his constituents,
before entering the United States senate,
he published to the country at large a state
ment of his position with reference to the
finances OF Virginia and his views on the
great questions that had bitterly divided the
north and south during and since the pc
riod of reconstruction. lie stated at length
the progress of Virginia's struggles with her
debt. In treating the subject of Virginia's
which should be steadily borne in mind.
At the close of the war her territorial ex-
tent was, by the creation of the state of
West Virginia, one third less than the orig
inal limits of the Old Dominion. In 1861
sol ,1SS,000. West Virginia on becoming a
state assumed no responsibility for any por-
ton of this debt. Consequently recon
structed Virginia, having $3l7 100000 less
property than at the outbreak of the war,
by the setting off of one third of her terri
tory to form new state was confronted
with the entire debt of the old state and
the interest that had accumulated during
the period of war and reconstruction. Out
of the struggles to provide for this burden
OF debt have grown the two parties known
as readjusters and debt-payers. General
Malone has been the leader Of the former
The names are misleading-both parties are
readjusters, working on different basis
Each party assumes that two thirds of the
indebtedness in 1861 is the measure of the
indebtedness of the present state of Vir-
ginia, the remaining third standing to the
account of West Virginia The readjusters
reject the claim for interest that accrued
during the war as ruled out by the exigen-
cies OF war and other reasons. The debt
payers allow this interest but scale it down
one half. In 1877 the readjusters were in
the majority in the legislature. State ex-
penses, including schools, were reduced to
Sl,400,000 The utmost stretch of the rev.
enues OF the state was 100000. They
took two thirds OF the debt of the whole
state in 1861 as the just and equitable debt
OF the present state of Virginia, and on
this sum the surplus of revenue over ex-
penses would pay three per cent interest and
leave balance of about 100000. A float
ing debt of two and one half millions was
to be provided for by short loans.
General Malone insists that he and his
party are not regulators, but that they have
taken the legitimate debt of the state and
propose to pay the highest rate of interest
the revenues of the state will permit,-their
poverty and not their will forcing them to
oOoh "h "ooVohohe ohiy III INC idIc VI III
terest but on a principal that represents
every dollar the state honestly owes. The
morality of General Mahone's financial posi-
ton turns upon the question whether Vir.
giniais paying all she can,-whether the state
is really bankrupt. A condition of actual
bankruptcy would attach no stigma 10 her
fame if, as the readjusters claim, she is pay.
ing her debts to the utmost limit of her
ability.
However his financial position may be (and
until his statements are shown TO be false
they are entitled to credit, politically there
cannot be shadow of doubt that he stands
on the bed rock of solvency. In the light
of the closing words of his address the i'm
partial reader can Judge for himself whether
by his recent course in the senate he is
guilty of inconsistency or of treason to his
party or his constituents. "And with the
readjustment of the debt as proposed, read
justers come into full control of the com
monwealth, remove the Bourbon reactionist,
from place and power and start Virginia OIL
new career of progress, prosperity ant
greatness. Free suffrage for all men;
fair count at the polls; free education fo
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