Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1881-11-26
q B.E,sT tIRHNId CERTIEE
<SAYE,ss12 EMM A.
For ab9nt pddken gyeaGs past, g.
servers Mflie Stock markets haye

servers M tic Stock nafketshayt
trequ45Afy mtt with an HemInowi
as "West Virginia Certificates,
which are always quoted as of un
r-rtwir- wrtl cxtrrmeiy low vaiue
pretty much after the style OF the
present quotations of Confederate
borfvfs. IT seems that the State Of
Virginia, .at the outset OF her spasm
Of virtue over the payment OF heI
public debt; wravely proceeded to a
division of the obligations, and set
aside a pretty large fragment OF the
debt as :. West Virginia's share. Il
BY this easy mode of financiering,
the debt OF the State was reduced
largely, and the spasm passing off,
Virginia relapsed into a comatose
condition, evidently not knowing
what disposition to make of the re
mainder. Her authorities acted to
wards this State with the shrewd-
ness that, characterized the Teuton
cobbler, who measured a question:
bic customer for pair of boots, and
who, when questioned as to the
progress made, sagely replied that
" the boots ish not done, but the
beel ish made oud.v While not YET
prepared to meet her own share OF
the debt, Virginia was quite willing
to "make oud y the bill against this
State, and in this way the "West
Virginia Certificates appeared on
the, market. The State of West
Virginia neither issued nor sane
toned the issuance Of any species OF
bonds ,or '.ccertifcatesD representing
any portion Of the Virginia debt
1t is doubtful, indeed, if this State
can be in any sense held for any
share in the payment of that debt
Never having received any benefit
from the, proceeds of the vast sum
expended in internal improvements,
in the .e2lte bellam days, and having
had practically no. voice in the crea-
ton Of the Indebtedness, it may be
{.
justly claimed that the counties i'll
northwestern Virginia, peopled by
the "peasantryn of the State, and
out Of which our new State was
formed, are not bound by any rule
to pay q debt they did not contract
and for which there cannot be shown
"value .receiyed.n 1t was part of
the i" bill Of particulars upon which
a division of the State was urged,
and consummated, that the policy of
the East was "ever inimical to the
Northwestern section )" and while it
is popularity believed that political
issues created the new State, the
fact is that the arbitrary despotism
practiced against the "peasantry,"
and the ills suffered by the section
west of the mountains under the
State legislation and by reason of
the inequalities perpetrated by the
constitution Of 1S50-51, paved the
way for the division, and the oppor-
tunity made by the war was eagerly
accepted, and West Virginia was
ushered into existence; and amongst
the first acts of the law-maling
power Of the new State is found a
wise provision against running into
debt. An act was passed against
lending the credit of the State to
corporations, and no debts were to
be created except to meet casual
deficits, to redeem a prerious HabH-
ity, Or to defend the State in time of
war;" And this leads us to observe
that, notwithstanding the strong
conviction in the minds of many in
telligent citizens of the State, that
West Virginia is not responsible for
a farthing Of the old debt, there is a
disposition to act fairly; and the
State has evinced a purpose to Gas
sumo an equitable proportion Of the
debt of Virginia prior to January
1st, 1862 just what that proper
ton may be, has yet to be detelmin-
ed. But there are no "West Viz
ginia Certificates 5" lawfully on the
market, notwithstanding, along with
Confederate bonds, such paper is
being bought and sold at 5 and 10
cents on the dollar. l .......