The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-01-22
ia .nc virginia Bondhoidcrs.

Editors Dispatch: | don't want TO Dur.
| den your columns with my views, anu AZ
! the same time I do not fancy unjust cen,
sure. I did not suppose the snort iettef ,
wrote Won would be made the sublect OIL
severe criticism. But rs II has been VIII,
with your permission, give TO tue crltics
another crtimb. II the question ever comes
nm in form before the people OF West Nir-
0inio the bondholders will hear from us.
In the mean time we propose to send out
skirmish-line once I'm while. IL Il Just to
all that they should know the views OF
those who do not chop logic, but 90 straight
IN their conclusions on broad principles
and YOU may rest assured that the people
Of this State would vote down any propo-
sjtion TO pay any considerable portion OF
the bonded debt ten TO one, or more.
beg leave 10 cite the Constitution OF the
United States. Article 3, section 2: "Ihc
Congress shall have power to declare the
punishment of treason, but no attainder OF
treason shall work the corruption OF blood
or forfeiture except during the life OF the
person attained"
The Constitution also provides for amend
mcnt. do not propose to discuss the lc-
gality of emancipation nor the modes
adopted.
The creditors of the States made before
the war and now make their contracts
with reference TO these clauses in the Con-
stitution OF the United States, with refer
encc TO international law, with reference
TO the contingencies that Oycrtlke nations
and States, with reference TO the good ialth
not ONLY in the States. but in the United
States Government, &C.; when the creditors
OF the Commonwealth loaned their money,
they did so knowing that very large por-
ton OF the property Of the State consisted in
negro slaves: knowing. too, that that pro-
pcrtv was secured by the Constitution OF the
United States from the possibility OF legal for
fixture by the authority OF the United States:
Now, IL the Government OF the United
States is responsible for the forfeiture OF
that property, is il not likewise bound 10
COMPENSATE the people OF the State FOR that
property! Is il not ut least bound to as
sumo the payment OF the debts OF the state
TO the extent that the forfeiture was direct
ed dqQinSt the State rs such? Will any
LAWYER controvert thisg We must note
that the Government did not forfeit
the slaves of those deemed guilty OF trea-
son, but slave property a. such; hence the
property revenues OF the State, for it was
taxed rs property. Therefore | submit the
Government OF the United States is under
higher obligations to pay the debt OF the
State than the State itself. Why is 1t that
the creditors OF the Commonwealth do not
bring this matter before the Congress OF
the United States? Il il from that natural
weakness in man that covers and cringes
before power while DIGGING and bullying
the weak? Would il not be eminently just
for Congress to assume the payment OF this
debt? Under this view OF the ease the
Commonwealth would be justified before
all the world Except the world OF usurers)
in referring her creditors to the Congress
OF the United states. do not know any
more emphatic way than reputation.
Now, il is manifest that the shareholders
will never get compensation orthelr slaves.
Slavery was repudiated without compcnSa-
ton aS a matter of public policy. Would
il he any worse to repudiatc 4 national debt
for like cause? Hence II is the least that
a great nation THAT is the word now could
do 10 assume this debt Had the Govern
ment of the United States forfeited one
half the rents and profits OF the people OF
the Commonwealth, would il not be held
i'm equity to assume the debt! Had the
Government forced the State. as 4 war in
demnity. to turn over TO the Federal au-
tborities one half the taxes collected OF the
people, would it not be bound in justice
to pay the debt-at least the Interest,"
Is it any less SO by FORGETTING nearly half
the property OF the people: When We
calmly consider the reasons for repudia-
ton, | think poetic fancy and an oyer-sen-
sitivcness about honor will have some food
for reflection. | think we have quite rs
good a reason for reputation a that set
out in the fifth chapter Of Nehemiah, and
we the people want no better morals than
those taught 10y the prophets Of God, how
ever behind the times they may be in the
fashionable society OF shOddieS and usurers.
We in est Virginia are interested in
what Virginia does in this matter, for it
will be precedent for our mastcrs-the
politicians-who hardly stoOp to consult
the real people at all. JOHN 5. SWAMI.
Charleston, ". Va, January IS, 1882.