National Republican. (Washington City (D.C.)) 1872-1888, 1881-06-15
VIRGINIE's DEBT QUESTION.
Gross Errors and FaIsehoOds About II
COrrecfed-TEe 8. .Times,,, Risf,nneafx.

Mr.. Massey, who is the Readjuster auditor of Vr-
gna and who wanted to be the Readjuster candidate
| for Governor, has made official financial state
ment, which is complete answer TO the assertion of
his party that the State cannot pay its debt. The Re
adjusterS insisted that the of the State would
not reach 3 00000, and the assessments were twenty
five per cent too high. Acting on this theory they
have reduced the assessments real property from
S2f6 597, in 1875 to S23 2795l, in 1880 Notwh-
standing this however the aggregate taxable values
are greater than they have been through the in
crease ofpersonaity that the of the State
have reached the large sum of S2,S53,253 Allowing
all that the Readiusters claim for government
penses Sl5O0000 there remains enough TO pay full in
terest the tenforties and something on the scaled
down bonds, or peelers besides, the entire interest
charge amounting to l,525S5 The facts seem TO be
| fighting against I'hiLddetphid Times.
That the above is a tissue of gross errors and
willful falsehoods is obvious at a glance to any one
who knows anything of Virginia's finances The
Readjusters have never insisted that the revenues
of the State world never reach 100000; the
aggregate taxable values, at least far as appears
from the report referred to, are not greater than
they have ever been-being over S14 100000 less
than they were in 1879 on real estate alone and,
under the decision Of the United States Supreme
Court, with all our bonds and coupons at least
temporarily, exempt from taxation until the law
be amended so as to reach them; and if the rev.
enues of the State did last year amount to 81 S53
255, this was due to prompter and closer settle
ments with collectors of the current revenue and
to the realization of several hundred thousands of
dollars from delinquent and defaulting treasurers,
&c, and their sureties. Auditor Massey himself
says:
The foregoing figures might, in the absence of some
explanation, lead to estimate of the financial abil-
iy of the State which facts not Justify II must be
understood that many of the collecting officers of the
State were largely in arrears on the I'd day of Janu
ary. 1885, at which time took charge of this office
By collections from these sources, and the enforce
ment of prompt payments into the Treasury by col
lecors have been able to meet the current expenses
of the Government and pay all the arrearageS which
were due to the lunatic asylun1s, colleges the
literary fund, and also S30O0 of the arrearages due
the public free schools.
have thus been enabled to report degree of finau
cial ease which is rlost gratifying.
This gratifying .hibit must not lead us 10 make
unsafe estimates for the future.
The expenses of the govern ment for the next year
cannot be much less ifany than they were the pres
ent year. The amount saved by having no session of
the Legislature will be about balanced by the costs of
re-asseSsng the lands, while the current expenses of
the government will be about the same
While. therefore, the expenses of the government
will be reduced but little if any, the receipts into the
treasury will be less from the fact that the arrearages
referred to above and the dues of the State
having been much more closely paid up than they
We're in past years equal amount ofreceps cannot
be expected.
The Times and other brokers' organs, pretending
to quote Auditor Massey carefully avoid any allu-
sion to his statements which utterly rebut and con-
fute everything which they affect to found upon
his figures But such are Funder honesty and
policE-honesty and policy which have involved
us deeper and deeper in debt and difficulty, and
disgrace every year from 1S until the Readjusters
came into power in 1SS0-RichmOnd WhiG