The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-05-19
FLOR the Richmond Dlspatch'l
The Amount OF the Pubic DeDt-A
Final Reply TO the WING.

understood the Wig to claim in It's first
article that there were no errors in its state
mont in favor OF the debt-tbat all the errors
which could be pointed out would be found
IN increase ana not diminish the amount OF
its debt statement. ] have pointed out not
only errors in the plan OF stating the debt,
but errors of millions in entering the same
credits twice. The error OF upwards OF
"a. 0OO. 900, committed in crcditIng interest
maid during the war, and Afterwards credit
ING the same sum under the head OF interest
accrued during the war, the wing cannot
see. Very well, will not continue the hope
Loss task of convincing il, nor Will Use nara
words toward the Wing because OF its
inability TO see what is plain to everybody
else. l am not one Of those who think im'
becili,y should be treated with barshDess.
But TO my surprise the Wing does see
that il has credited nearly all OF the sink
inc fund tWice-a bluuder not bit palmer
than the one have Just alluded 10. IL at
tennis, however, to excuse itself by au-
hitting that 1t blundered against the state
in charging her Sl,634. S35.l3 TOO much In
lerest up to 1st July, 1871, by under'esti-
mating the amount OF bonds redeemed by
the sinking fund by some S2,00O.oO0 and
by not charging the interest paid between
! lst October, 1880, and 1st July, 1881, some
1880. 400 more-ihat is 10 say, 1t now claims
tnat il blundered IN stating the debt at too
large a sum by upward Of $4,000, 900, which
/. rather large in an accurate statement OF q
debt of only some Sl5,000,000. The
Wbiq is still bluDderng. 1t has not
made allowance in its interest mistake Tor
the interest ia arrears 1st January, 1861,
which il included in the interest TO July l.,
1871. and which was 1915. 1853 IS. (See Doc.
16. Senate journal for 1879-'S0) 1t has un-
dertakeu to estimate the sinking fund in
detail, and made it more than the Commits
soners OF the Sinking Fund certify it was
when the bonds were destroyed. Those
commissioners were Reaui USERS; il they
are right the Wig is wrong, and they must
settle the matter between them; but the
fact should be noted that the Wing c0nfesses
that i'm its statement it entered credits hrst
| for the most Of the fund il detail ana then
for the whole fund In the aggregate. Ana
| lastly by the manipulation Of hgures' winch
is a trade with the Wing, 1t seeks 10 cred'l
on the principal OF the debt the large ainomn'
of interest paid between October l, leoOi
and July l, 1881.
By the way, why did not the wing de-
duet the four years interest during recon
/ AAn
struction times-some S5,0OO,000 more
That, with the $4,000 900 blunder, would
relieve us greatly and reduce the debt tt
some IS. OOO. 600, after correcting the blum
ders the Wing admits. | trust The Wh9
will now reddJttSt it, statement, and SHOW
us what we justly owe.
have not iutended to discuss what is tht
actual debt OF Virginia. There can be ne
doubt OF the fact that she is bound for all Of
her outstanding obligations. aud they have
been stated from year to year and recognized
as correctly stated by all parties. II the State
assumed to pay too Iaige a proportion OF
the old debt, or blundered ia issuing In
terest. bearing boCds for past-due interest
it is too late now to correct the plumbers
They were made and approved by Legisla
lures sitting from 1865 to 1879. They wer'
matters within the power OF these Legisla
lures, and the public have relied on tina
fact and bought the bonds issued by them
To attempt TO 60 back now, and overhaul
and eliminate and cut down the debt, i
nothing but an attempt TO rob the holder
OF the bonds OF what is rightfully theirs
and is no better than picking their pockets
CIyIs.