Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1882-01-07
COMMONWEALTH OF VIRGINIA,
GOVERNORS UFFICR.


pleasure.
COMMONWEALTH OF VIRGINIA,
GOVERNORS OFFICE.
RICHMOND. January G. 1852,
10 TIE General -4sSemJy Of Tir1ipia.
poAp!e. rsc;iv.d through o Committee CT your
oadg, bavs taken The oath prescribed BY law
sdd hs7o uttered upon the ofica ef Governor.
The coos,l!utioae Gu OF communicating 10
each session ct tho General sssemb'y tie coo-
| dloo Ct tbo Commonwealth has already tecu
| Patterned By m7 predecessor 10 the traosms
sen 10 ycu ct tuil reports from s the heads CT
departments Bu. tho Governor is elso r.
CURED to recommend to the consideration Of
| the GeGtrsI Assembly suca measures as be may
| daeu sxps dien..
Tits latter mandate proceed briefly to dis
charge 10 hrn faith that tie principles md
purposes which hEvo received emphatic &C.
dorSencnt t:5n the people ct Virginia viii Tot
la! to clnGsrd tho! support Of their repre-
| st6ts::v.s.
IL use ct t:c tuth;rty iolras!cd 10 me
lGVs no other aim than TO ms!nteiu lie ,tuo
| homer and foster the su5i!aplis Interests Of Ii,
| State. and 10 pursui. OF these otjsa;s kDoE
| 90 better guides than The Constitution aEd
| 'hst a!Il which the sovereign voico OF 'bis Gem
| N oaEestn has declared at the baitot-b <.
recommend tho adoption OF measures
| nlthout unnecessary delay which shall provide
| To-: The discharge Of cur public Obligations o5u
The bass SET forth 10 be set passed by the
| is: General Assembly ard kuo~a ss tho
| kiddl:herGer It'll. No greater boon ssn b.
gwen iii's peorla thsn q speedy, tqll.ablo std
| uoal scitlsnent OF sill controversy cOrc:rliGg
the SIatc deb:. Great missppreheneion cs!sls
az 10 the Eurpts, Of the people Of Vhgiria 10
thls regard. Conflicting causes OF LEGISLATION ia
| lie pas: and statements az 10 tho public revo.
| cues snd res,uc:s, proved t. b. erroneous
| oF subs; aen! events. havs teudcd to c)bt15e
| the popular mild end TO produce rrCss dis
| crmsna:l0a between tho several CLASSES of Viz
| ainlas obligations. though 10 lsw end 10 e0aiy
he whole should hAva boaa Loaogcusyus
aud OF equal vaua. Az | understand Tie vi6Ts
shd will OF the psopla Of this State, th.y do not
ntoad 10 fepudiate any jus; Obligation, hu. 10
assume and to psy that proportion 1t the
ptincIpai which /. pfop:I!g chargcshi, III The
present State CT Virginia. md to lss.cra al!
classes OF the Creditors to ni5ne OF iua,liIy.
Wa ara at 20 lC5s 10 deternlGa TIE proposition
OF The anll-bal!Gm debt which this Common
wealth should assume, for the Supreme Court
Ut the United Ststos aCioG:cated that qls.-
lior.
With tho sanction of that hish tribunal
10 tho proposition that tWc thirds Ct tho original
turn l5 tho JUS sh,io thereof 10 be hnrnn b.,
Virginia tho tfao Indebtedness OF hia S ale
Can be methems,ically determined.
| First. By computing the full ipjerts! 10 Tie
date Of settlement from the period Thco Var
gnla lost oouLro CT and c,ssnd Ia draw :svaoua
tfom The territory embraced 10 West Vir.iais.
Seconj. By ctediing sgsiDa: tho sam to:al
OF principal and Interest SO ohsircd tho &C
kcoWlcdg ed payments on both actGro.s msde
by Virginia slucs the PARTITION ct her territory.
Ii this shsIi bs d0re. aad provision ru ale Tor
! q l'dat!on OF the amount go iGuod TO b. du.,
10 charge OF population can 30 rightly Lid oil
The door CT the people OF the Common Wesl,h.
10 the scheme OF this settlement lboyo referred
tho several classes of bonds. Tbls was nsots
saiy 10 tq1i,sble application OF lie payments
heretofore made and to rreasr9a bs weII-o:-
tablished principles OF law. that qla!l'y is
eqllty among creditors cftqua dislny.
As to the rate OF interes! which COZ ard
should be paid on The principal % aecertsiaed
and assumed. 81! parties 10 thia State gro
agreed that The presen. rate Of tsXiton cannot
DO Increased. CommGo coCsant on tiis point
| 10 connection with the les. ESS:Saucot u.tr;-
minis, then, .ho amount OF pubic !oveSu2,
Ills revenue 10 principally applicable to The
support OF tbs GoverDDeut, uco1 tho mGio-
tensnco OF which res,s the OILY nope that soy
pablo obliga alton will b, provided FIR or 81: :
chsrsed. The Constitution Is impt.s,iv, tba:
on-.6tth OF oil the tax upon Properly Shall be
appropriated to the public Tree school e5s;em,
Tho charitable insti:u ions OF this State imro,o
upon ths body polite Obligations sud responsi.
bilitIe5 of dignity AID ptilrIty which tho voice
OF humanity osnuot question.
With those demands upon a fy.d reytpro
the only question is wis. ratio of Interest Can
With certainty and promptitudc bo paid upon
90 already ascertsiued Indebtedness. And o,.e-
!ul estimates establish tho Proposition that 3
per oentum is the largest rate that can be prt-
vldod Tor With ctrtsnty of mcoIog the semi
sn1ual payments and Hl;h satey to the other
claims above ooumtra!ed. We s!s supported
10 this corc,u.ion not ory b. tho liaansisI ez-
perlsLQa OF many years. Eut also by The Iaos thu,
tho pruI O5td interest 10 IS grcs. o. The average
rate pnId by the debtor class ci tho wotli 10
publ, Securities OF the present day.
These views arc advanced 10 The fin, coz
Vioion tho! settlement based oa ihc general
pricc!p!eD l.ccated ab;ro to 30 spp.i.d with
snah details Il method ca yGur wsicm vii!
su2p'y. W. I'D NEE! the sanction Of tho pcoole
tWbIch 10 essential 10 any scttieneut,) wrcll
satisfy all tie demands of 1nesIy, AID lcsul, ia
eventual benefit to the bo1dholders.
G:rnsln 10 the debt q1as ioa is Ike sui ieo:
| Of the public free schools. This system is The
tbl:ot Ct SPECIAL provision ~ tho Constitution.
A considerable potion Of the luud dedsatcd to
educlIional ctj,ctS by thu Constitution has
been By The curse of past legislation sud ID
n,ius'raIion diverted 10 The great de:tiruut OF
the SCHOOL system. This course hos bten M,
s1ed upon Tho hsory that sta utory enact meuls
| OF 1871 oould strcgate aad ralIify msudstc OF
The Constl 1tl1n CT 1862 setting spart to the
tree schools at lest One6fth Of tho revenues.
| carnot u .sin sco5 construction, because il
isrGro. the l.c that ttis portion OF the reyt-
nues Was s1Iemn'y dedicated to this particular
oil ot by The Constitution, ncd is tho oGl, part
OF the rtVeruc5 The control aid disposition Of
~hich Sss taken fr,n tho Legislature By that
losluneut | belieYo that measures nay be
devised and recommended that Immediate an.
| ton be tskau to Irestrvs lhe school fund FROM
iu ute iosas oo. and 10 restore % it IS 3D. edly
IS pfso,icsbIe tie dmoagt which hs, baeo
Cioarled.
/ n II, "a, i 4