Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1882-01-10

monwef ks de clared at the ballot
box. or,z
I'D b PUhBL1c DEBT.
/ recfenSd the adoption of meas
ures wifeenhnDEecessary delay which
shall pE for the discharge Of ouI
'|nb1s, ~ "a ni1sn the >hasirss4
:. forth IN IA 10y the last Gene
= raj Assd own as the Rid
d!eperg9 batter boon can be
gwen ii a speedy, equita-
Die anu ent of all contro-
versy Co State debt. Great
in mlsapPr ts as to the pur-
r. pose OF Virginia in this
DC regard. curses of legisla-
y, ton IN atements as to the
~ revenues proved to be err
Ill roneous ent events, have
tenoeu popular mind and
the seve iinia,s obliga-
nonS1 b equity the
IN w9 homogeneous
I an understand
the> eople of this
State, to repudiate
any Just to assume and
to pay th the principal
which is |ble to the pre-
sent Stat and to restore all
classes o Prs to plane OF
equality no loss to deter
mine thu of the ogte-beLl41l
} debt VIII nonwealth should
assume, eme Court of the
United adjudicated that
question:
With t II that high tribu
nal to the What two thirds OF
the origin ust share thereof
to be bo bia, the true in
debtedne sF ke can be mathe-
maticall lnfD
First. puItMg full interest to
the date SETTLEMENT from the
period VI Fgihia \lost control OF
and ceas avn reenue from the
territory En- I'd tn West Virginia.
Secondl b diting a{ainst the SUM
total of pfind and intekest so obtain
ed the ackno Eged payments on both
accounts ina y Virginia since the
| partition hi hA erritory.
II this shalb done and provision
made for lliauition of We amount SO
> found 10 be du no change Of repudia-
ton can be rid!y laidat the door OF
the ueople of = Comnb wealth. In
the scheme of is SETTLEMENT above re-
ferred to differt rates offunding were
prescribed forhe sevetl classes of
bonds. This VI necessary to equitable
appIicationfof e payments heretofor Q
y made and TO nerve the Will establish
ed princiolesl law, thatequality il
equity among creditors of DUAL digni-
ty.
AS to the rate of .interesi which can
and should be paid on the principal SO
ascertained and assumed, jail parties in
this State are agreed thit the present
rate of taxation cannot be increased.
Common consent on this point in con-
nectiOn witblthe last assessment deter
mines, then ,lthe amount Of public reve
nue.. This revenue is principally ap
plicable to the support of the Govern
ment, upon the maintenance of which
rests the only hope that any public OBJ
legation viii be provided for or dis
charged. TIE Constitution is imper-
alive that OF s-fifth of all the tax upon
property siall be appropriated to the
public tree 3chool system. The chart
table institutions of this State impose
upon the tofy polite obligations and
responsibilities of dignity and priority
which the 1oice of humanity cannot
question.
With thes| demands upon a fixed re-
venue the oily question is what rate of
interest can Fith certainty and prolnp
titude be pail upon an already ascer-
tanned indebe dness. And careful esti-
mates establish the proposition that
be no,,;Sod ~ ort.;,,t,, " 49, -,o o..-
no tho COW; Dnnnorna, ts-ond NTH
IS Far, ~ tha I'll. 49,. ahnua an,,,na.
.stej W. oe s,,nnnrtad IN tho con
,,,,s;n,, n,t 'I r., ~ IS G,ano;aI .,Sna
.ionnn n of ~ y ~ W. h'.t a1sc b., ~
&c, o ~ ly yeaas, DuH aaso ~ ns
100 49, eT p.opo"e" 80 aiG %n the
iahto~ &c. . ~ iae y, p n,,h,;o soo,,
IT, 80 11Sss .ns WIZ" S ~ puo''o 'eo"
is M1s az IHe Hesens Joy a., ~,
ao 80 sattiamont hasod on
~ nou IT, IoS'i ;nd;aatad I's shoua
~ he seuo, III 80 Sata;tS q o
y H "1 app,.vy MI SUI III, a annnI, Va vol,
n.y.. .ou az you. lisuo W. w. suppSi mn
= a.s LIZ / VI III popl ,n,,ld
ely W. IT, o,,,I
ausy al InIueaanus q. no LIZ az
: o n.dara oen'oai oe"en' ~ 'A "
.+,, t,,o
- h;ao, nf+h WV 49,
u "
PUBLIC FREE SCHOOLS
This system is the object of special
'rovision by The Constitution. A con-
iderable portion of the fund dedicated
0 educati ohal objects by the Constitu
lon has BEEN by the course OF past lie
islation AMI administration diverted to
he great 6triment of the school sys-
EN-. This course has been pursued
pom the theory that statutory enact
lents of 1911 could aurogate and nuffIfsy
mandate IF the Constitution of 1869,
citing apart to the free schools at least
ne fifth of the revenues. ! cannot sus-
ain such a construction, because 1t lg-