The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-09-23

H
Tho NKtalsbereer Scheme.
pax. rs,oo 70. the sdysatage q RfppLh-
rsacsn II he ~dssaossien reported ~ sse
~i,xooica of 5osiertss, Howy w snpp'
shcwinx ~ the cnorfaitiss q vac n'~
sxsaxe hiIi. No DemesFssic speskeF peses
a.gth,ae el<e than that BIZ when ne ep-
w..<s 6 ! discussion With eny RezciusseF'
~ r,ns, rtrsoxa, II % true. y the p"'a-
~ t,,n,r 81 the bfii; but as tbe Consen-
IL whleh nominated CAMERON, bk"ls,
"a pr..,n declared Il to be The purpose o
tse pesdmsier party 70 settle the state
aest mon the bssls Of that measure every
7. x,3ns,er stumper must defend thai nolo-
si..s.' hin or run the risk OF being read out
Of his party.
We commend to the attention o. TIE pc
uoefatIc speakers some OF the points mace
bs Gosethor HOLIDAY 10 bis message We
,o,ne the ~RrDDLrsERenE hill. One sugges-
don Of tbs, message is that the bill attempts
~ Leal ingenuity 10 escape the debt By de-
nying the remedies given by The Copslitu-
tom and hws Of Virginia. admitting toe
oaylea,ion, aud that II can and will be en-
forced. the bin by legal machinery attempts
% defeat Il by limitation OF The remedy.
The State is made to plsy The part OF az IN
dipidnai in the getting Of The money and
the putting itself under legal forms to Sc
care sts repsymeni, and then, assuming the
robes Of Sovereignty, trying 10 avoid the re-
sponsibiiily By denial OF relief or It's hml'a-
non 10 such an extent as 10 make II defeat
it, own proiessed object"
Speaking OF smother iealurs OF the bill,
Governor HOLIDAY says:
sTc accomplish this end II goes further,
epd 10 compel the creditors to yield tneir
evidences OF the States Indebtedness, ofers
4 bonus by throwing upon the markets vast
amnun,s OF what are called loan CERTIFICATES,
which II proposes TO sell to the taxpayer ut
inv cents on the dollar, thus destroying
n half the revenues, that the interest OF
the creditors may be wrecked"
And the Governor well adds:
This is a fearful lesson for a republic
10 teach is citizeaS-hoc to break, not TO
keen faith-ond must return one day IN
some form NTH disastrous import"
intbIs connection let it not be overlooked
that the loan. certificate feature OF the bill Is
foredoomed 10 be dead failure. The bond
holder can sell bis coupons cheaper than
the loan certificates are TO be sold, and still
get mere interest than the RIDDLtBEHGER
bill offers him; for whereas The yearly
maturing coupons of o consol bond for
81 600 could be sold (st forty-eigbt CENTS on
The dollar for S2S 80, the holder OF such a
bond would receive under the RIDBLsBER-
CIR bill, IL be accepted IFS terms, only 1880
OF principal, and therefore would be entitled
10 but $500 OF annual interest.
Recollect, also, that the bill, as the Gov
ernor says, "destroys one halt Of the reue-
nuesn OF the Commonwealth. The Re
sojusieis declare that these revenues are
already 30 mesgre that they will not suffice
to paw the expenses Of the State govern
ment and keep up The schools, colleges, asy-
iums, &C, II The Stale shall attempt TO pay
a million Of dollars Of interest annually F;
and set their own bill proposes to reduce
the revenues by q million and 8 quarter Of
dollars, thus bsnkrUpting the State treas
nry and leaving not a dollar 10 pay interest
With. Even the RIDDLEBERGER bill, II 1t
ever becomes a law, will call for more than
hall a million OF dollars wherewith TO pay
the annual Interest promised in that bill,
and yet ihst bill itself provides for "de-
siroyinq half the revenues" OF Virginia
and leaving not one dollar wherewitb TO
49, fr4oroSf on ana cfuOlo honA
This "persussiye" measure goes fur
tber. II It is not rendered absolutely GER
tsinsthat the bondholders will accept its
terms. the bill provides for i~nauring their
refusal by subiecling The bonds to State.
city, and county taxation. A thousand
dollar eopsol bond o yields annually S6O.
The bin proposes 10 cut this SUM down TO
$3.50, and also TO tax the bond yielding
this immense interest! How gladly will
not the States creditors settle the debt upon
the terms offered In the RIDDLRBERGER bin !
OF course no such bill can be a success.
No bondhoIder will accept 1t. Every one
would run the risk Of losing bis whole debt
rather than voluntarily accept such terms.
Let al voters, therefore, who are anxious
20 hear no more Il the public debt after the
election OF November next sec to 1t that
they cast their ballots for DANIEL, BARBOUR.
snd McKlsgEY. These gentlemen repre-
sent a party which will have The condolences
q the creditors of Virginia. and therefore
may hope to be able 10 come to terms will
them; where's CAMERON, LEWIS, and BLAn
advocate A measure which proposes to re
pudiate out and out more than thiiteen mil
lions Of the debt. They propose TO repu
diate millions upon millions Of dollars
worth Of bonds sigued By Yirglnis's Owl
officers.
HOLIDAY wouldn't do that. DANIEI
won't do II. CAMERON would. Vote fol
DANIEL,
A leading businessman OF Richmond
who has recently travelled over the State