Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1882-04-08
THEIR RECENT VISIT.
WHY DID SENATORS DAVIS AND CAMDEN
CONE TO WHEELING PA CORRESPOND
ENT Who PUTS This AND THAT ToGETH-


ENT Who PUTS This AND THAT ToGETH-
Err.
Editors Wheeling Intelligencer.
Phe Register of the 18th has u peculiar
editorial in regard to the West Virginia
debt. This editorial is plausible and very
specious, and is well calculated to mislead
the lie giSlatare. A few facts, (Which the
writer is prepared to prove make an in
.eresting preface and will explains good
many things we have recently seen in
print. Some ten years ago, old Virginia
quietly Invested herself of fifteen millions
of debt, by declaring that, III her judge
ment, this State ought tOassume one-third
of her ante-war bonds. Thercupon COM
mittee, appointed by Gov Jacob, examined
the subject and reported that our share OF
the Virginia debt was obeut $3.50, 900. This
report was received on Wall Street as
''offieial figures" and the spectators Ill
uncurrent funds reasoned thus: Virgin
ia will never pay any part OF tins hIteeu
millions; West Virginia will never pay
over $3.50, 900: consequently the securities
which represent this fifteen millions are
only worth 6l3 cents OH the dollar" we
all remember these securities were quote't
at cents and cents, and after while
we were surprised to see them advanced
to IL y cents. While they were selling
very low, Messrs. Garrett, Davis and
Camden bought largely. I'VE would give
the figures, but our present space Is re
strcted) Last year pool was formed,
the market bulled and the price carried a.
bove 81 cents. Davis and Camden sold
ont. Garrett sold $500, 900, but the market
fell and left him with over million on his
hands.
These speculations are easily calculated;
to buy million ut 81 cents, requires only
$4,000. Sell this million at II cents and
you have a profit Of 100000.
Two months ago "Firginia deferred
were quoted at l3, and in fact cannot be
sold in any quantity at 10. But if your
Legislature will make some ambiguous
move towards settlement, the specula-
tors will manipulate the market again and
those who are heavily burdened may un-
load upon the unwary.
Wcnow answer the editorial and in yonr
next issue we will print some facts about
the Virginia debt that will put quietus
upon the scheme which has been concoct-
&C.
The Register, gushing with state pride,
declares that "West Virginia cannot afford
to remain quiet abOnt her share OF the
debt, because an erroneous impression
prevails, OUTSIDE OF THE STATE, that we
are repudiating" This is not so. People
outside of the State have precisely the
same access to the sources of information
as the people who are insiGe the State,
and those who wish TO get at the truth
can easily do so. Are we to shoulder 4
debt we DO not owe, because San errone-
Gus impression prevails among Ignorant
persons who refuse to hunt up the facts!
Depend upon it, that counterfeit vlrture
and honesty, which some men assume
when they mount themselves on stills for
public inspection, is fairly discounted AZ
90 per cent.
But the Register says: population an d
capital are deferred from coming into
repudiating State and the European hold
ers of these securities scatter this SANDER
among people disposed to emigrate to
West Virginia"
Here are two plausible statements and
both are absolutely without foundation
Experience has shown that capital does
not shun regulating State. Facts are
stubborn things. Mississippi advanced
more rapidly after her reputation than
before. Money has been flowing into
Virginia and into this State, during the
past three years, ut rate beyond all cX-
pectations or precedent. Ben Butler
bough his wild laEds after Gov. jackson
issued his proclamation that-"Wc have
no bonds; we don't want credit and we
will never pay penny" Reputation
means low taxes and investors hunt
| places where taxes are low. Ills edlto-
rial sounds like we were drifting into des-
titution, whereas we are bounding tor
ward into both wealth and population.
| Reputation hurts the man who happens
] 81, hnt
| held abroad, viewed as n materialistic
proposition, Reputation does not inj ure
! the State We admit reputation delays
credit, but if we DO not want to borrow,
! our credit is perfectly useless. Jay Gould
! showed his sixty millions 10 his friends
because his credit was of greater value
I than his cash.
Again, the English and German specu-
latOrs will read the face of their bonds and
will readily understand. which State is
sued the securities they have purchased
for Il few cents on the dollar. The emf
grant does not know and docs not care
whether "Virginia deferred" sells at 10
or 20 cents. He says to himself, "lf mon
ev making men like Ben Butler, Camden
| and Davis make investments in West Viz
ginia, it is a good place for me to find
wages" and if the emigrant is tolerably
well posted in the mysteries of West Viz
oinia politics he will take into consdera-
| ton that he may turn penny once every
three wears as an election for Senator APP
| proacheS. JUNlUS.
ONE-MAN PowTR.-ln recent letter,
| Hon. Abram Fulkerson, one of the read
ulster congressman from Virginia, dis
claimed any responsibility for the APP
pontmemt of Mr.. John G. Watts as United
| States marshal for the western district of
| Virginia on the ground that call the fed
eral appointments in Virginia are dis
posed of by Senator Mahonc.' In this
| connection n recent transaction of the re-
| adustcr caucus of the Virginia Legisla-
ture becomes of interest. The postmas-
ter at Lexington, Va, DR.. Freeman, was
! a strong Union man throughout the war,
| has discharged the duties of the office
with intelligence aud fidelity, and is an
applicant for reappointment. But the
rcadiustcrs Of the Legislature have unan-
imously endorsed Col. John b. Lady, a
member of the House of Delegates, for
the position, add ordered his name TO be
forwarded 10 Senator Malone for appoint
ment, thus recognizing the Senator's in
fluence at headquarters. Meanwhile the
genuine republican Congressman, Messrs.
Jorgensen and Dezendorf, ind II ImDos-
sble to reach the ear of the President in
securing the most insignificant appoint
ments for their republican constituents.
The assassination of Davis, the noted
raider of Tennessee moonshiners, was de-
liberate and cowardly, and was made the
occasion of jollificatiOn by the murder
ers. Davis, the account says, had been
bold anC efficient as Government agent,
and the proprietors of Illicit whiskey dis
tilleries in the mountains concluded that