The Wellington enterprise. [volume] (Wellington, Ohio) 1867-188?, 1881-09-01
Deb.-Paying in Virginia.

We can imagine the frown that will
corrugate the brows of some of our es-
teemed contemporaries on the Demo-
cratic side when they read that plank in
the platform recently put forth by the
Bourbon party of Virginia in regard to
the payment of the State debt. We make
special reference now to that class of
Democratic editors like Mr.. Watterson,
of the Louisville Courier-Journal, who
felt particularly scandalized when Mr..
Malone made his way over to the Re-
publican side of the United States Sem
ate Chamber, and voted steadily with
our folks in making up the standing
committees. The howl of "repudia-
tion" that made every Bourbon news
paper throat hoarse in the land is not
yet forgotten, and the Republican party
was denounced without stint or limit
for accepting Mr.. Mahone's vote, or for
allowing him in any way to affiliate
with them. Republicanism and Re-
pudiation" was the beautifully sound
ing ailiterative headings OF Democratic
leading articles, and the influence was
left upon the unsophisticated readers
mind that the only honest men in this
country, and especially in Virginia,
were found battling with Mr.. Malone
and the Readjusters.
Well, this party of honest debt-pay-
ers have recently held their State Con-
vention and promulgated q platform in
which they declare their intentions for
the future, provided the people are
foolish enough to trust them with
power. So far as the payment of the
State debt is concerned, their profess
sions are sham and pretense. They
set out by .'condemning repudiation in
sH a,,I = |.
diately proceed to declare themselves
diation. They pledge themselves to use
every effort to secure the settlement
of the State debt consistent with
honor and justice" Gust what the Re-
adjusters promise), but add Immediate
ly in the same paragraph that they
will mot increase the present rate of
taxation" Now, every body knows that
1.-The present rate of taxation in Vir-
ginia does not contemplate the pay
ment of either the principal or the
interest on the public debt as it now
stands, and the creditor of the State
knows it as well as the Bourbons do
This is merely practical Reputation in
its simplest form The creditor is
told that he shall be paid somehow, but
that the only method known to pay a
debt, namely, to increase the rate of
taxation, shall not be adopted. They
might, forsooth, rob the school fund,
and cheat the children of the Com
monwealth out Of their elementary ed
ucation; but this they swear they will
not do, and as they have no other re-
sources at their disposal, they simply
promise what they cannot and do not
intend to perform.
Next, they propose to not only re-
pudiate portion of the State debt by
scaling it down in "a manner consistent
with honor and JUSTICE" but they pro-
pose to fund the debt at as low a rate
of interest-three per cent.-as the
United States Government or any OF
the best European Governments can
fund. their debts. The fact is notori-
Gus that poor creditor the world over
est for borrowed money than good
one, because the risk is always greater,
and Virginia will tndit SO. In her i'm
Poverished condition, with great debt,
with the talnt OF reputation on he1
name, with her previous pad record
under BOURBON rule' sne must not ex'
pect 70 borrow money as cheaply as
ILLINOIS, winch mas no puDlic debt, and
whose bond IS as good as the Bank OF
England's notes.
But the hypocrisy OF the Democratic
party OF Virginia, as a debt-paylng par
ty, IS made still more transparent and
conspicuous by the nomination 1t has
made for Governor OF the State MI
Daniel, the nominee, has record OF
the financial question that Is, II possl
BILE, worse than that OF the rotten Ole
party which he now essays to lead, fol