The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-05-05
That Injunction.

We think Il hardly possible that any
c.n,tal can be made by the Mahoneites OUT
~ the bill Of injunction fled in the CIR
emit Court Of this city few days ago ID
The interest OF certain holders OF State
bonds issued under the funding act OF
1871, The bin was fled as matter OF
business. The questions involved are not
political questions. nor party questions.
Thev are questions Of law. The principal
point IN the case Is, we suppose, as TO
whether the funding act OF 1871 pledged
The procceds OF certain property TO the
creditors OF the Commonwealth. A Rich
mond letter in the.Petersburg Appeal mot
"Bruce's") says:
"The colored people look upon the pc
fifion presented to Judge Wexford, OF the
CITY Circuit Court, for an injunction to re-
strain the $500, 900 supposed to be In j. II.
Dayls's banks with much disfayor. AS
this particular money was appropriated Tor
the construction OF colored normal
school. they seem 10 think II very unjust 10
make up a ease for the courts which will In
any way ieopardizc the prompt under
taking Of preliminary measures Tor the eX-
-ecution al the purpose Of the law as passed.
we must therefore look forward for some
exhibition OF bad feeling in our politics
and a great deal OF talk"
The Wing devotes a good deal Of its
space Of yesterday to the same subject.
We shall, therefore, be excused for Civ
ing the facts of the case as they appear in
the public records. We shall say nothing
ms 10 the merits OF It. Here is the section
under which the bill OF injunction Is filed:
"Whateyer sum may be realized from
the claims OF this State against Selden,
Withers a Co., and the Chesapeake and
Ohio Canal Company, and from the sale or
disposition OF the stocks and bonds and
debts owned by the State in and against
any and all railway and other Improvement
companies, and all sums which may be
realized from the claims Of this State against
the United States, and from any sales OF
any real estate now belonging 10 the Com
monwealth, shall be paid into the Treasury
Of the State to the credit OF the sinking fund
hereby authorized and created"
The next feature OF the section from
which the above is quoted provided for a
tax which was also 10 be placed to the
credit OF the sinking fund. The same sec
tion closes by telling what was to be done
with the sinking fund. We quote:
"The Treasurer, the Auditor of Public
Accounts, and Second Auditor, are hereby
appointed commissioners OF the sinking
fund. and shall have the control and man.
agement thereof, and shall annually or
oftener apply whatever sum or sums may
be to the credit OF the sinking fund TO the
purchase and redemption OF bonds issued
by authority OF this act"
The language last above quoted is en-
ployed, word for word, in the McCULLocH
bill of 1879, and is followed by the follow
ing provision:
"All the certificates Of debt which shall
be funded, redeemed, or purchased under
this act, shall be cancelled by the Second
Auditor, and delivered by him to the Trea-
surer Of the Commonwealth at the time of
payment therefor, who shall carefully pre-
serve the same in his Office. All certificates
of debt acquired under the operation OF the
sinking fund created by the act of March
30, 1871, shall also be cancelled and deliv-
eredr