National Republican., 1881-08-03
Tn.AInnrnNr

Tomorrow is the day fixed for the Vir-
ginia Bourbons to disport themselves in
State convention, and to nominate and
resolve. There are good fellows in their
ranks as there are in all ranks, and they
ought to get through beckoning the past
to catch up with the present, and espe-
cially they ought TO cease their endeavors
to hitch the present to post un-
til the past can come up with it,
There are many named for the guber-
material nomination, with some ofwhom
we are on pleasant terms But for The
REPUBLICAN TO mention these hatteringly
would iniure their prospects, and we abb
stain. We want no friend to be pitted
against the gallant Cameron, for he is not
to be beaten. We hope to see the Bour-
bon Democracy of the Old Dominion
either fish or cut bait on the debt ques-
ton. They must either agree to pay the
whole orthc principal debt ofold Virginia
as il stood in 1861, with all accumulated
and unpaid interest, or they must not
longer criticize the Readiusters. They cam
not pay one-third of it by an unaccepted
draft on West Virginia, and then pretend
to be too virtuous to tolerate readiust-
ment, for that is readjustment. Their
journals and speakers say that readjust-
ment is reputation. Now let us see the
great debt-paying party show its hands
Then, if 1t is agreed by the Debt-Payers
that readiustmcnt is inadmissble, they
must agree to so increase the rate of tax
alton as to meet the annual interest on
what they claim is the debt. They can
not pay this interest merely by saying
the state owes it, any more than man
can feed another by saying Eat, drink,
and be filed" Then there is a
dead swindle, of which they were
guilty, according to their own standard,
when they rcpudiated some millions of
interest, funding it ut fifty cents on the
dollar The Bourbohs have thus far been
better funders than payers of the public
debt; that is to say, they have been more
industrious in making new notes than by
paying old ones. They seem to think
that they can give note for loan, and
then give notes for the interest upon il
from year to year, and then give other
notes for these last when they fall due,
and so on to the end of time. They have
never refused to pay-with new notes.
They are funders. Funding is wiping out
an old debt by offering the creditor new
notes for the old creased and soi.ed ones
in his pocket. 1t will be good time for
the Virginia Micawbers to-day to
take a new departure, and prom
Use at least to so increase the
taxes as to enable the State TO pay the in
terest on the old original debt in some
thing besides promises. The Readjusters
offer to pay three per cent. on twenty
millions, and to pay it in cash, out of the
revenues raised at the present rate oi
taxation. The Funders must show how
they are going to keep their promises to
pay any more. Can they do il
without increasing the rate of taxation ?
Will they increase the taxes? If they
do not are they not Jeremy Diddlers, gas
conading about paying debts without
money? The debt question so exercises
the average Bourbon Democratic Don
Quixote and his Bourbon Republican
Sancho Panza that the platform adopted
by the Funder convention tomorrow
| ought to be good reading.