Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1881-01-25

idue going in commissioners to brokers
in profits to spectators and In saving,
to our larger taxpayers. In effect, the
cons0l creditor discovered that with all
his advantages over the State and the
peeler holders, he himself was also the
victim of the spoilers, and that he was
unable to realize more than or AZ of
6 per cent, notwithstanding the fact
that his coupons intercepted and divert
ed large share of the tax imposed and
set apart for pnblic education-.a tax i'm
posed by the same Legislature which
enacted the Funding Bill, in accordance
with constitutional injunction which
requires that u tax on all property of at
least ten cents on the one hundred dol
lars shall be levied for free schools, and
| under which the rate of taxation was
| laaised from forty cents on the one hun
| dred dollars of assessed values to fifty
cents, especially to meet that specific re-
| quirement. Meantime our net annual
revenue, even under this increased
levy, was only about 81, ,430, 900, and our
governmental expenses, including the
constitutional apportionment to educa-
tion, were never less than 81 800, 900. 1t
is easy to see that in this state of affairs,
while our government was embarrassed,
our
| SCHOOLS ROBBED
and our people dissatisfied, one-third at
least of our creditors (the 'peeler bond
holders, who were now getting no in
terest) were almost in despair at the sit
uation. Representatives of this class
urged readjustment of the debt; pnb-
| lie sentiment demanded it, and our fast
accommodating arrearages on almost ev-
cry account made it pressing necessity.
The movement TO that end was accord
ingly begun with vigor in 1873. The
alternatives were REIMBURSEMENT or in
crease of taxation, and out of ll0 mem
bers of the House of Delegates of that
year there were but 13 of the so-called
sDebt- Payers" who would or did vote
| for IN increase of tax; and when, four
| years latter, q new accumulation of un-
paid interest had gathered to the amount
! of 50 200 900, the schools had been de-
privcd Of their dues to an aggregate Of
| 81 500 900, aud IL was necessary to nego-
| tiate loans from the banks TO run the
government and maintain our eleemosy-
nary institutions, there were but four of
| the
So-CALLED DEBT-pAYERS.
| in that house who would vote to raise
| the rate of the taxation. The 'peeler
| holders were still to receive no interest,
| and the schools, which had begun to
| flourish under the minimum tax in the
| behalf of ten cents on the one hundred
dollars, eked out by poll-taX of one
dollar on all male citizens over 2l years
of age, despoiled to n greater and great
er extent each succeeding year by the
tax coupons, declined in numbers and
in length of session until one-haf of
them were closed altogether and the
other half were kept open only two or
three months In the ye1r. The educa-
tional system which had in It's first years
been our pride and boast, and under
which so many thousands Of our poor
| children of both colOrs were receiving
at least the rudmcnts of learning, fell
| into rapid decay under this fatal deple-
| ton of its resources, and they who had
| been the chief authors of its misiortunes
became the principal complainants
against the decadence and ineillCiency
which they themselves had caused. The
people, however, whose children had
benefited by the schools, and who them
selves had acquiesccd in the increase of
the rate Of taxation from forty to fifty
cents for the purpose of securing for
their children the blessings of education,
began TO clamor for the proper appliCa-
ton of the tax and to bitterly denouncc
those who were responsible for its diver
sion, either rs principals or as accesso-
ries.
At this juncture (ln 1870 the period
| had arrived for the election Of State olli-
GERS and general assembly. If there
| were any who favored an increase OF
taxes, none were bold enough TO declare
| It, unless we except one candidate for
| the House of Delegates. The C0nserva-
tive party compromising the mass of
white voters, and controlling the State),
met in State convention and formally
| declared that taxes could not be reduced,
and that the public debt must be read
| justed within the compass of the reve-
nue. derived from the Cthen) existing
rate of taxation, and without dlscrimi-
nation against any class of the creditors
Upon this nominations Of Governor and
other State officers there made aud ac-
Cepted, and upon IL they were elected
The nominee fol Governor, previous tc
his nomination, In letter which was
published In hia interests, declared his
readiness to abide by the will af the peo.
pie In the matter of the debt, and that Il
was y question to be disposed of by III,
Legislature and not by the Executive
In his letter accepting the nomination
he declared that the debt issue was be-
fore the people and that they should anC
would have special reference to the dis.
position in their choice Of Legislators
In point OF fact, while he made no can.
vass before the people for his election a'
Governor, the debt was the all-import
ant question In every city aud county o
the Commonwealth Ms 10 members o
the General Assembly, and the result
was the return TO both branches Of the
Legislature of n large majority of mem
bcrs instructed and
PLEDGED TO READJusT
our public obligations strictly within oul
income, as derived from the rate Of llfty
cents on the one hundred dollafe. aiiei
providing for the necessary support o
government, the due maintenance OF oul
charitable asylums, aud awarding th,
free schools the dues apporiloncd then
by the Constitution. In his inaugura
address the new Governor testified that
the debt had been tho only Issue OF IA,
legislative campaign, aud that II was foi
the Legislators TO settle Il IN accordance
with the Instructions from their consiit
uente.
Accordingly, that General Assembly
fresh from The pcople--and chosen or
the sole issue OF the dcbt-did at once
prepare aud pass the so-called
BARBOUR BltL,
| which, after recltIng the inability OF The
people to bear heavier lmposillons ant