The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-03-31
Shaping the Issue.


debt. His object was to prove that Gen.
Malone and Capt. H. H. Riddleberger were
repudiators and that the Republican party
had committed itself to reputation in nom
mating Capt. Riddleberger for the position
of Sergeant-at-arms Of that body. We
have seen no satisfactory report OF the re-
marks of the distinguished gentleman, but
gather from the fragments we have noticed
of what he said that he went over the same
statements, pretty much, which are en-
braced in his recently published letter on the
same subject, varying its monotony, some
what, by having read from the Secretary's
desk number Of newspaper extracts and the
Riddleberger Bill. We venture the asser-
ton in advance of seeing the elaborate pre-
sentatOn that there is not fresh fact or
thought contained in the two hours har-
angue. 1t was an effort doubtless to prove
to the country that he represented an hon.
est debt-paying party in Virginia, and that
Gen, Malone and Capt. Riddleberger were
leaders OF faction OF repudiationists, with
the old stale receptions, misstatements and
|
such position. The truth is the only really
dangerous repudiatlonists in Virginia is the
faction to which Senator Johnston belongs.
The creditors and the country are deluded
with the protestations Of honesty as the
rule of its action, while every year since
the debt question has been up for discus
sion, during which 1t had control of the
government, it actually repud lated, by not
providing for its payment, from $600,0 to
$500, 900 of the honest dues of the creditors,
Constitution of the State by robbing the
| Public Schools of 81, SOC, 200 which the Con-
stitution dedicated to them. In 1871 the
Conservative party adopted bill re-adjust-
ing the debt, and under its demands the
rate of taxation should have been rs cents
on each 800 worth Of property. That
would hardly have raised the necessary rev.
enue. Yet the rate was fixed at so cents
| and every convention of that party and
every vote recorded in the Legislature an
nounced that that was the maximum of
| taxation that could be allowed. This was
| direct and positive reputation. Not a
newspaper or public speaker even now, al
ter the values of the Commonwealth have
| been greatly increased, and the condition
of the people improved, will propose or adj
vocate an increase in the aggregate Of tax
alton. The policy is to rob the creditors
| by concealing assets, in the innocent form
Of reducing assessments, and refusing to
raise the rate of taxation. In the public
meetings which have been held by Senator
Johnston's faction this year, and in the for
NAL address Of the representative body of
that wing of the Democratic party, it has
been distinctly declared that the debt must
be settled in accordance with the revenues
to be derived from the present rate of tax
ton on the recently reduced assessment of
values. This will not yield as much reve-
nue. as has been raised for the last five
years under the assessment of 1875, which
fell short of the demands upon the treasury
from 1901, 900 to 100000. What is this but
epudiation-robbing the creditors, without
the courage to declare that to be their pur-
pose. These heightened honor men re-
cognize the debt as just, but announce in
their conventions, in their platform, and in
all their official publications that they will
make no sacrifice or provision for paying it.
That is the kind of debt-payers they are.
They deliberately state to the creditors
that the State owes you so much, and that
the claim is just. We can offer no offset.
But Notwithstanding this and notwithstand-
ing the increased values of the Common
wealth and the ability of the people to pay,
and Notwithstanding the present methods
will not create revenues to pay you, we do
not intend to change them, except for the
worse, and will not pay you in the future
as much as we have been paying in the
past. Is not this the meanest kind of re-
pudiation Even Senator Johnston himself
in his reply given to the public several
months ago to the interview with Gen. Ma
hone, about that time, on the debt ques-
ton, after arraying his facts and arguments
to show that the debt was honest and the
contract binding and the people were able
to pay its demands, deliberately stated
that he was in favor of reducing the inter
est upon the entire debt to uniform three
per cent bond What is that but covert
invitation to reputation?
Gen. Malone and Capt. Riddleberger
approach the subject with much more can
dor and honesty, if there can be compare
tive degrees in honesty. They claim that
the State does not owe what the debt-pay-
ers recognize-that the interest which accu-
mulated during the war and reconstruction
periods is not proper charge against the
State, and that One-third of the original
debt of $50, O00,0 900 is properly assignable to
West Virginia. Upon this two-thirds they
claim the people are not able to pay more
than three per cent, and adduce the re-
cent assessment of taxable values to prove
this. This principal they admit the State
owes, and this interest charge they an
nounce they are ready to, meet. There is
no deception in this, however wrong it may
be intrinsically. They place the matter in
a form to mislead no one. The creditors
and the country know precisely what they
have to expect should their policy prevail,
while they know nothing of what would be
the result should the other faction succeed.
The ''debt-payers" do not provide any
more revenues than the Re-adjusters They
both recognize identically the same re-
sources, and each assumes that the revenues
to be drawn from them constitute the meas
ure Of the people IS ability to pay The one
says that we owe you more than this but
will make no effort to pay you. The other
says we will pay you all we owe.
That is about the state of the case, and
that is the claim which Senator Johnston
may honestly present to being debt-payer
that and no more.
Neither Of these positions will stand in
the face Of the decisions of the courts, al
ready rendered.
But really the Virginia debt was not
properly up for discussion and the array
ment of the stale, fiat and improbable,
thfeadbare arguments and newspaper ex-