National Republican., 1882-11-21
Arc Malone and Riddleberger Re-

H'c "hnonc ana kiudleDerger he-
pudiators =?
The New York Sun characterizes Sena-
tor Malone and Senator-elect Riddle.
berger, of Virginia, as "two repudiators."
May we not hope for the Sun editors at
tention to the following truths2
]. The regular Democratic party of
Virginia agrees with the Readjusters as
to the liability of West Virginia for one
third of the debt of the old State as it
stood at the time of the division, in 1868.
Both and all parties agree that the pres
ent State of Virginia is not in honor
bound for that one-third, and will never
pay any part of it. The Supreme Court
OF the United States has declared this to
be just and in accordance with the law
and usage concerning public debts.
2. The only act of the legislature of
Virginia on the statute book of that State
touching the public debt question, for
which the Readjusters voted is the one
passed at the last session, this year, and
that act does not "repudiate," "elimi-
nate" or call in question 81 ngle dollar
of either principal Or interest of two-thirds
of the debt of Virginia as it stood on the
1st of July, 1868. TO be more explicit.
The Riddleberger law of this year differs
from the Riddleberger bill of 1880, which
never became a law. The present statute
contains preamble reciting the account
of Virginia with her creditors, as shown
by the records in the Second Auditors
office. The record show that on the 1st
of July, 1868 West Virginia was ad-
mitted to the Union June 20,
1869, the total principal was $685.
14l ,2l2.92, and the accrued interest was
S954,7lG.0S. Virginia Readju sters and
Funders alike agree on this record,
made many years before any such di-
visions had sprung up. Both likewise
agreed that Virginia Ii onestly owed, and
would only pay, two-thirds of the above
sums. The record shows that up to the
ist of July of this year payments of
principal and interest had been made
which left the balance Of the public
debt, $2l ,095,377.15. This is q statement
which Mr.. Dana would find verified
were he to examine the records. The
State government of Virginia chal-
lenges the world to success fully as
sail the correctness of the debt state.
ment which is incorporated into the
funding act of this year, introduced by
Mr. Riddleberger and supported by the
Readiuster members of the legislature.
The previous funding acts pretended to
deal with this same debt and no other
The McCulloch bill excluded one.third
But all the acts Of the Legislature pre-
vious to the Riddleberger act manufnc-
tured Indebtedness for which there ex-
listed no warrant or foundation. They
provided for giving bonds without COLI
sideration, under the prctense of
only refunding the existing debt.
They provided for compound interest,
which no government ever pays or ever
| owes. The editor of the Sun, if made sole
arbitrator between Virginia and her cred
itors, would be unable to find her owing
dollar beyond that provided in the
Riddleberger bill, always provided that
| the basis is two thirds of the debt of
| 1868 He would as the Readjusters have
| done, put his knife to the false obliga-
tions issued byun faithful public servants,
| ostensibly TO take the place of the old
| ones, but issued in excess of the amount
of those old ones. Unless this is repudi-
alton Malone and Riddleberger are not
repudiators. The ISLANDERS of Virginia
and her people are not creditable to the
great newspapers which could so easily
learn the truth, and ought to be willing
to print it. From all such ISLANDERS she
appeals in the Riddleberger law to the
| facts which are of record,