The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1882-01-14
The Progress Of Reputation.

The Progress OF Reputation.
The Regulators have carried the day
in Virginia. Their triumph is due to
the open support of the Federal Admin
istration, and to the large amount Of
money raised in Northern cities to con-
quer the prejudices of uncertain voters.
The Post-office and the Treasury De-
parments, with the entire strength Of
the Internal Revenue Bureau, were used
by Malone in this campaign, as if they
were his personal dependencies.
The negro vote was cast nearly solid
for the Reputation ticket, and joined
with it were thousands of whites, glad
of an opportunity to trample under foot
a sacred debt, not dollar of which can
be charged to carpet-bag rule or to mill
tary government.
What are the facts of this case? The
debt was contracted before the civil
war, and it is represented by railroads,
canals, turnpikes, institutions for the in
sane, dumb and deaf, and by universe
ties and colleges founded or endowed.
Every department of the State Govern
ment recognized it as completely valid
and obligatory. After charging one
third of the original debt to West Vir-
ginia, as her just portion on separation,
Mr.. Malone, in a written speech de-
livered in Richmond, February %, 1879,
said:
81 would use my best endeavors to secure a
vote of the people sanctioning a settlement at
3 per cent. for forty-five years, on the basis
of Sc, 81, 09062 1 would do so because be-
heve it is right"
Recently, in an address before the
Union League in this city, Mr.. Malone
declared:
:" If we carry the Legislature, as we hope to
do, we shall adjust the debt on that basis $780,
100000. On the other hand. our enemies as
sumo debt OF $3S0O,W0-ohering to pay 3d.
100000 which they do not owe"
The Democrats adjusted this debt
with the creditors, under what was
known as the McCulloch bill, in way
that imposed no heavy burdens on the
State, and yet saved its credit from dis
honor. The Regulators were not salts
fled with that settlement. They rallied
their forces in 1879, and carried the
State. One of the first acts of the Legis-
lature was to pass the Riddleberger bill,
providing as follows:
First-Repudiation of $4,000, 900 of
the principal. STANDARDIZATION Of
the bonds, principal and interest.
Thirdly-Repeal of the provision max
ing the interest coupons receivable for
taxes.
Governor Holiday, Democrat, vetoed
this scheme. The question before the
people at the late election was practical
ly, therefore, whether Reputation
should be sustained or should be reject
ed.
Upon that distinct issue the Republic
an party of the Nation and the Federal
Administration took Mahone's side, and
the result is before the country. 1t may
be confidently assumed that the Riddle
berger bill will be again passed, and
this time it will be signed by the new
Governor, Repudiator. With single
exception, all the Judges of the Supreme
Court will be chosen by this Legislature,
so that it will be packed in the interest
of Malone and of Reputation.
The Republican party is now COM
mitted to reputation. The Federal Ad-
ministration, by the steady support and
countenance given to the Regulators,
have Just elected for the Governor of
Virginia a man who long ago made a full
profession of his faith in these words:
AS to the full and final Payment or liquida-
ton of the present enormous National debt he
that knows the American people and their ut
ter deficiency in the high qualities of truth and
integrity, know that such an expectation is but
an idiots dream.
For ourselves we shall rejoice when the
crash comes. 1t Is a debt contracted in tho
prosecution Of an infamous and unnecessary
war"
The Attorney General of Virginia also
proclaimed publicly after the passage of
the Riddleberger bill that he was in favor
of 50 the vigorous application of the prin-
ciples of rea1justment to the National
debit
Are the Republican party prepared for
the next step in this career?-M. Y Sun.
Russell Mccoy, Chief Magistrate of
Pitcairn Island, is in San Francisco. He
asserts that his dot of country is inhab-
tied by ninety-six of the happiest per-
sons in the world. The climate is de-
ightful, the growth of fruit abundant,
and the conditions of life generally COM
Portable. His own Office is a sinecure,
for there are no disputes of consequence,
and lawlessness is unknown. The people
are communistic to a degree, sharing
their goods freely with the needy, and
dividing the land equitably. He de-
clares that none of these would leave
the island.
-Philadelphia has more than two