The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-11-23
The State Debt.

One OF our NuStiia '>'"e"S'7
nnon the Democrats to have nothing more
10 do with the State debt. 1t says that the
cour,s now have before them all the ques'
lion. connected with that debt, and must
settle those questions. II Is Of course eX'
pec,ed by our contemporary that this settle
men, must be and will he acquiesced in by
Ire people.
Suppose, however. that in JANUARY next
when the RIppIEBERGER law is to be passed
upon by the supreme Court OF the oni'ed
states. that exalted tribunal should pro-
no,nee that law 10 be in conflict with
tho Constitution Of the United states
and should command the collecting officer,
in Virginia 10 receive the coupons now
outstanding in payment OF all taxes due
the state. What then? There are NIL
lions Of dollars Of such coupons, fully ma
turcd. now in the hands either OF the
bondholdcrs or OF persons VINO nave
to,yht them. The state Treasury w0uld
,oon be depleted Of all its money ny
the demands made upon 1t by the cur
rcrt expenses OF the commonwealth
and A. rothlng but coupons wouIo
come into the Treasury for a yeal
or two. the Mahoneites would hnt
themselves in very embarrassing s''ua
t;or. On the one hand would staho
President ARTHUR and the entire Republic
can party Of the North calling upon then
faithful ally" WILLIAM MAHoNE to make
GOOD his promises and prove true his asser'
tions MALONE has SAID over and ONcl
,oa;n and the statement has been repeated
in GoRuAM's paper and throughout tho
northern states until every northern Re-
nubhcau has come TO accept il as a fact
Tbs; the Readjusters did not propose TO re-
ppdiate one dollar OF the just debt oi Nir
,inia. but would honestly provide iol
having the cuilrc amount Justly due 10y
her. What il the amount justly due by
herr We answer whatever the supreme
court Of the United States decides to be
owing by the State Of Virginia. That tri
lunal i the final ar0itcr Of all such con
tcniions. Well. the supreme Court OF Ap-
pcais OF Virginia has already decided that
the state owes the amount She promised "a
pay when she entered INTO contract will
her creditors in 1871. This decision viii
almost certainly be affirmed OF repeated by
the supreme Court OF The United States.
What. We again ask, will General MA
HONE then dol viii he rccOnyenc hi'
Legislature OF last winter, and demand o.
it such legislation rs will meet the require
ments OF the decision oi the supreme
Court Of the United States: Or will h'
Let things DRIFT: We have not the leaS
fear,-or perhaps We should say hopc,-
that he will do the former. but take il foI
Granted that he VIII do the latter.
What will it he the duty OF the Demo
Gratis 10 do. Fortunately for them. they
are not lust now responsible for the legis
lation Of the State. Nevertheless, should
The General Assembly be Ieconyened, the!
will have 10 adopt some policy in regard tt
the public debt. Their standards went
down in 1879 and again in 1881, in both Of
which years they made gallant fight fol
The paymont Of that debt. The voters de
cidcd against them. A STATE cannot b.
forced in any way that we know OF TO pay
its debts. unless indeed such states n have
contractpd 70 receive tho "nnnnns ~ -
bonds for taxes are 10 be excepted IRON
this declaration. Upon this lat point al
will turn. Ii the supreme Court OF TN
United states compcls Virginia 10 receive
her coupons for taxes. il would seen
that She would be obliged to raise more
money by taxation than She NOW doe
in order to meet the necessary expenses o
Government. Ii, however, the Suprem
Court of the United states should decid
that one Legislature has no right 80 dc
priyc another Of the power Of saying Wha
must or may be received for taxes, thel
that tribunal may fix \irginia'- debt AZ an
amount il plcaSeS, but she will pay no NOR
OF il than she shall elect to pay.
II is a fine prcdcament that MALONE la
brought his State into. However niue
the Democrats may deplorc her unfortt
nate condition, they have nothing to II
pioach themselves with. Their record
clear.