The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-01-20

J. Verted large share OF the tax imposed an
9 set apart for public education-a tax impose
Dy the same Legislature which enacted th
: Funding Bill, in accordance with constit,
: tional injunction which requires that a tax O
! al property OF at least ten cents on the hur
r dred dollars shall be levied for free schools
: and under which the rate of taxation wa
] raised from forty cents on the one hundred do
lars OF assessed values to fiftv cents, especial
to meet that specific requirement. Meantim
our net annual revenue, even under this in
creased levy, was only about 81, 100000, an,
our governmental expenses, including tn
constitutional apportionment to education
, were never less than 81 100000. 1t Is easy t,
see that in this state ofaffairs, while our Gov
: eminent was embarrassed, our schools robbed
and our people dissatisfied, one-third at leas
of our creditors (the 'peeler bondholders, Wit
were now getting no interest) were almost il
despair at the situation. Representatives o
this class urged readjustment of the debt
public sentiment demanded it, and our fast &C
cumu-ating arrearages on almost every &C
count made it a pressing necessity. Tht
movement to that end was accordingly begun
with vgor in 1878. The alternatives were re-
adjustment or increase of taxation, and out o.
l4O members of the House of Delegates Of
that year, there were IL of the so-called
"Debtpayers" who would or did vote for an
| Anei Ooeo VI taA, uu1 Wueu, louf years later,
new accumulation OF unpaid interest had
gathered to the amount OF $5.OOO,OOO, the
schools had been deprived of their dues to an
aggregate offs SOC, 000and it was necessary to
| negotiate loans from the banks to run the gov
| eminent and maintain our eleemosynary insti-
tutions, there were but four of the debtpayers
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 their behalf Of ten cents on the hundred
dollars, eked out by poll-tax one dollar on all
male citizens over 81 years OF age, despoiled to
greater and greater extent each succeeding
year by the tax coupons, declined in numbers
and in length of session until one half of them
were closed altogether and the other half were
Kept open only tor two or three months in the
year. The educational system which had in its
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 rudi-
ments of learning, fell into rapid decay under
this fatal depletion of its resources, and they
who had been the chief authors of its misfor-
tunes became the principal complanants
against the decadence and efficiency which they
themselves had caused. The people, however
whose children had benefited by the schools
and who had acquiesced in the increase of the
rate of taxation from forty to fifty cents for the
purpose ofsecuring for their children the bless
ings of education, began to clamor for the
proper application of the tax and to bitterly
denounce those who were responsible for its
diversion either as principals or as accessories.
At this juncture lin 1877 the period had ar
rived for the election of State officers and
General Assembly Ifthere were any who ia
vored an increase of taxes none were bold
enough to declare it, unless we except one can
didate for the House of Delegates The Con
sentative party, comprising the mass of the
white voters and controlling the State) met in
State Convection and formally declared that
taxes could not be increased, and that the pub
lie debt must be re-adiusted within the com
pass of the revenue derived from the (then)
existing rate of taxation and without dscrim
nation against any class OF creditors. Upon
thls nominations OF Governor and other State
oiicers were ulaue ahQ acceptea, anu upon IL
they were elected The nominee for Gov
ernor, previous 10 his nomlnatien, IN letter
Wnlch was pubIsneo IN nus interests, declared
MS reaaluess Va anue ~ ,ne VIII OF the people
III !ne matter OF the aeot' ana mat IL was
suGJect ~ ue ulsposeu Oh ny we Legislature,
anu not ny the E2ecutlVe. In MS !ettef accept
ing the nomination ne aeolareo mat the debt
issue was before the people ana That they
SHOULD anu Woulu nave speclsi reference 10 tne
ulopoeAsicn ~ Ineit cuolco Vi legislators. Ill
20 poln' VI iac.: WINE ne naue no canvass before
snI poop'o lo' nis eleo'ion as oovernor, tlle |
oep' was tne all-lnpoitant question ~ every
clty anu county OF the oonitponWeat'h as 10
m5noele " VIZ oehelal AsselAuIy, anu l4e re-
sun was .n1 losuln W nu.n VI .he Aegi
.atalo " lalSe IaJoilty VI lleiiipels instruct
.: anu pieuseu W le-auJos! our puolic opilga
.lons a.llclly "ltnin our lico1le' as derived
ron my censs On sne oAe nuhuieu uoll'.isal
.ol piospns ,ot tno Unnecessary suppois y! goS-
einon'' wy .uo " o''l Iil'i
oyiunls anu awalulnS VIC punt sonools Tue
u :, appol.loaeu mem ny tne oolslitulieu. IN
Z inaugural auuless 'ne new 0ovelnoI testi.
ne, .i,a. .: uoo' nau oeon sno on:y iesue vi
.ne regisiatlve CAN anu Inae ~ was ioi
Va. .ne iesisia.ols 70 sellie ~ III accolaance WIN
the INSTRUCTIONS iIoin lheif CONSTITUENTS.
Accordingly, that Conceal Assembly, fresh
from the people-and chosen on the sole issue
OF the debt-did at once prepare and pass the
so-called Barbour Bill which after reciting the
inability of the people to bear heavier imposi-
tons and declaring the nadequacy of the rev.
enue to meet the expenses of government, sup
port the schools and pay the interest on the
public debt at the rate per cent. and the prn-
cipal claimed under the Funding Bill ,proceed
ed to levy and apportion the taxes in proper
ton of twenty-five cents for the government,
ten cents for schools and fifteen cents for IN
terest This was no measure of re adjustment,
merely an appropriation bill for one year. The
temporary purpose was to evade the tax cou-
pons and ito relieve the present financial en-
barrassments of the State;" but, if it should
stand the test of the Courts, its final purpose
was ito secure an adjustment of the public
debt with the consent of the creditors, if prac.
ticable and without discriminating between
them, upon fair and equitable principles" 1t
was at all events measure well calculated to
bring to lust determination the declaration
which it made that "the preservation of the
State Government is absolutely necessary, not
only for the protection of the person and prop
erty of the citizen of the Commonwealth, but
for the preservation of the rights and promo
ton of the interests of the creditor of the Com
monwealth." But the Governor vetoed it not
withstandine his committals, expressed and
implied, to the contrary Then followed the
Bocock- Fowler Bill, which proposed to settle
with the creditors on the basis of the debt a.
claimed under the Funding Bill, with interest
at three per cent for eighteen years, and at
four per cent. for thirty-two years-an average
of three and two-thirds per cent This bill
was approved by the Governor, and became a
law; but it tell still-born, not dollar being
funded under it, and refer to it only to show
how inevitably the schemes approved by the
self.styled "Debt-payers'' have fallen short OF
that observance of the invioabe sanctity of
contracts of which they pirate so much At
the next session of this Legislature the whole
T fhor,4 hot Mr..