Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-05-12
Rate
Interest.
EStimat'd Interest r
,. debt. paid. In

Virginia lo-iOS. $50 percent, per cent
Virginia conSols, $50, per cent, IA per cent.
Nirsiais peelerS, SIS, iS9 per cent, ll5S per
United States Is, 1907. sll5',. per cent. 3 a
United States as, 1891, slIs, "A per cent,
3 - per cent.
United States currency 6's, slS2. per cent.
4 81 per cent.
l believe, Mr.. President, that il the
whole people of Virginia were united,
and would say, as the Government of
the United States has said, and as the
Senator from Ohio would say and make
others say, eve can pay and will pay
every dollar that the government of the
State owes" Virginia's debt to-day
would stand in the market not so good
as q United States Government bond,
but it certainly would be very much
better than it is, and believe that the
cause of the depression there is that a
party is trying for political or other pur-
poses to depreciate the debt, trying to
eliminate il as it is said, instead of going
to work squarely and fairly and saying,
"We can and will pay all that we Justly
and rightly owe." A million OF dollars
is not so much OF debt now as it used
TO be. see my friend from New York,
| Mr. Conklingl. There are single indi-
yiduals in his great city who are said to
be worth more money twice over than
the whole iebt of Virginia. There are
telegraph companies in this land whose
stock capital and debt are three times as
great as the entire amount Of the Vir
ginis debt. There are dozen railroad
companies whose debt and stock COM
bined are two or three times as much IS
the entire amount the State OF Virginia
owes.
Mr.. Conkling-Whst is the entire
debt OF Virginia2
Mr.. Davis, of West Virginia-As re-
ported, $50, 0O0, 900 in round numbers as
the debt-payers say, while the readjus-
tiers and some others propose to make it
about twenty million dollars, as I'M
derstand.
Virginia in my opinion can pay a dol
lar to-day with more ease than she could
paw twenty-five cents few years ago.
We hear OF at least half dozen railroads
being built in each Of the Virginias; we
hear OF northern capital and capital
from abroad going to Virginia for the
iron, coal, and other things there; the
enterprise OF the State is becoming pro-
titable and will be more profitable. Vir-
ginia has Sl07 ,iS2 sac, according 10 Spot
lords Almanac. standard authority,
invested in railroads, nearly four times
as much as her entire debt as recog-
nlZed. Those railroads earned last
year s,2SO,SS0; their working ex-
penses were Si,9i6,Sl7, leaving
s2'23l,Ol3 net profit. A large
part OF these railroads was built out of
the money which created the debt that
Is now In question between the two
States and | commend 10 nv friend,
the senior Senator from Virgins, mir.
Johnston. when he talks about the
debt to reflect that he has TO day rail-
roads in his State nearly two thousand
miles in extent, the larger portion of
which was built from the money for the
receipt OF which the debt was created.
/ DO not complain OF Virginia in any
way. believe she has done and will
do her full duty, and have great SYM
PATTY for her and her whole people. l
would not injure her in any manner.
Mr.. President, il must be recollected
that Usited States 6 per cent bond
did not reach par in gold until 1872 or
1873. We know that Government bonds
during the war were sold q low as be.