National Republican. (Washington City (D.C.)) 1872-1888, 1882-01-14

making SOP olGn included In the Sbov,.
sum Of sllDa3f21S; total debt~".,.... 80 10
Aud whereas, by this account, 1t appears that
Virginia owes her creditors Hs OF the lst OF July
1882, including the bonds held by the literary
mnd. ana interest thereon cast 10 such date, S2I,-
O3),SII6 ana that she may cause To be issued sr
own bonds for that and provide for the certain
payment OF Interest thereon that for her equita-
bic share Of the bonds known as consols and here
designated as Glass A, and whereof there are out.
standing Sli,3G90TiSl and for her equitable share
ofthe bonds known as n-iorics, and here desig-
mated rs Glass H. aud whereof there are Outstand-
ing sS,jI 900; and for her equitable share of the
bonds known MS pccCrs. and here designated as
Glass c. and whereof there are outstanding 81 30i-
Jol2 ana for her equitable share Of the interest
thereon, designated MS Glass ID, nnd whereof there
is now IN arrears SOS Ss7Ij and counted TO the LIST
July, 1852 makes the amount Of such interest then
TO be in arrears sl072 5ii6 and for her equitable
share Ofthe bonds known ms uniuudGd bonds
dollar aud steriing-herc designated as Glass T.
and whcroofthcre are now outstanding, computed
attwO thirds, s3,773, iO3GS and for her equitable
share of the Interest thereon now in arrears, Sl-
636fil.A, and counted 10 the LIST July, 1852, making
as of that date ts23G 4O969 more) the sum Of 81 S2
s539O, aud here designated rs Glass 7; and for her
equitable share of the bonds held by the com
miSsoners OF the literary fund, whereof there are
Sld2S,Si5,2b,
Whereas the rate of the interest which any peo.
pie can safely undertake to pay must be deter
mined by the measure Of their productive re.
Whereas these have long been burdened by n
rate Of taxation which is conceded 10 be rs high
as can he endured; and
Whereas the means Of prompt ana certain pay.
the people have assurance for the support OF the
Government and the maintenance Of their schools
Hs required by the Constitution; and
Whereas the net revenues Of the state remain
ing aud 30 derived AFTER providing for the proper
aud gradual liquidation Of the balance OF The
moneys heretofore diverted from the public free
schOOls-aitcr liquidntiug gradually the arrearngcs
TO the literary iund, ana leaving some small mar
gin, for the Immediate and subsequent eXigcnclcs
which 0rc ana are likely 20 DC demanded by the
public welmre-nOiably In respect Of the humane
institutions now inadequate To The proper accom-
mediation otthnt unfortunate class Of every pOpu.
latiOn--dO not warrant the assumption Of II larger
rate Of Interest than - upon the full amount Of
Nirginia's equitable share of the debt of the old
and entire state, ~ The same iS ascertRined and
now formally declared by the foregoing account:
Therefore,
be Il t1ddedl N he general assembly Of Virginia,
That thc board OF commissioners of the sinking
cred and directed to create bonds registered and
coupon 10 such extent us mny be necessary TO
comply with the provisions Of this act.
SIC 2. The said bunds shall be dated July /, 1882,
aud payable Ut the Onice Of the treasurer Of the
state on the lst day of July, 1852: PJOtided that
the Stale may at any time ana from time tu time
amer July ], 1900, redeem any part of the same
principal And interest al par In case Of such re-
shall be determined by lot by said board of COM
missioner; aud notice of bonds so selected to be
paid shall be given in newspaper published nl
Richmond, New York, und London, England
when interest from aud after ninety days from the
date of such publication in London shall cease
upon the bonds 80 designated To- be paid,
SEC 3. The form oflhC bond shall be ~ follows
20 Wit
Tie Commonwealth Of virginia acknowledges her
seif Indebted 10 ---- 0n tic cstsn Of "a coupon
bond 40 lie bearer " ana h die case Ola icgsielod
ia HE sun or dollars Whlch sls pr0lElses 10 pas
~ lHW l money Gflhe Uultn stplor, ~ uir Oinc VI
hsy W iiiy i1il Witb the oUinn III Iayineni ni uAr
srlncipGl aud nteresl-beiofo maturity al amy uias