The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1883-04-04
An Original Readjuster Rises to Tx
ptufu.
IFnr the DIEpatch.l

First. The attack itself. John Randolph
said II forget in what speech) That q MIN
who wishes his ccnsure TO be effective
must himself be clear OF the vice ne as
sails. lie added, by way Of Illustration,
that Solomon, with all his wisdom ana
knowledge, could not have delivered q
very effective lecture on confluence to peo-
ple who knew that he had seven hundred
wives and three hundred concubines. III
the shirt OF that remark j submit that the
New York Tribune Is not eXactly inc
source from which one would take lessons
on honesty in public affairs. That paper
is one OF several owned and controlled ny
Mr.. Jay Gould, who testified in 1873 that nc
had contributed money to control iegis,,
lation in four States who was proved
| 10 have disbursed IN the Erie railroad In
| interest upwards OF a million OF dollars IN
one wear for the same purpose; ana VINO
is known TO have made in few years Sixty
millions, or five times the sum OF our Inpu-
| ted repudiation. by cOrnering stocks ana
robbing the public. That paper, moreover,
belongs to The great Republican party,
which forced Virginia, with the alternative
Of continued carpct-bag rule. to repudlate
her war debt to her own citizens, the wa.
debt of the Confederate States, and her
own solemn engagement To take care oil
Robert j.. Lee and his cOmpatriOts VINO
left the service OF the United States to Wd
their mother. such hard requirements did
not indeed convince us that it was right TO
refuse the payment OF our just debts, Dut
they had a tendency TO discourage sentl-
mcntalism in deciding claims OF doubtful
validity, as the debt demanded under the
funding act Of 1871 undoubtedly was.
So much for the Tribune and all its
class whose right to be censorious on ques-
tions OF public morals | desire our people
TO estimate ut the proper value.
Now for yourself. You say: "Thc Fri
bune'S own allies, not to say It's own party,
are responsible for the Reputation Legis-
lation OF the last Virginia Legislature.
And the Republican Supreme Court has
decided the legislation TO be no violation
OF the Constitution OF the United States
Barely asking, by way Of parenthesis, ii
that must not have been a strong case,
which, on such subject as the sacred
ness OF contracts, could have stood the
scrutiny OF court which considers il TO
be one OF its most important functions TO
protect public credit, /, an original and
consistent RCadiuster, respectfully deny
that there was any reputation by the last
Virginia Legislature.
The facts, | think, sustain the denial.
The funding act Of 1871 included in the
amount OF debt claimed both war interest
and compound intercst-two illegal items.
The bill, as all know, was defeated one day
10y Il aiorty OF Conservative members,
and was passed into law on the next by
bribing certain Radicals. At the succeed
ing session Of the Legislature it was re-
pealed over the Governors veto by two
thirds vote, of course.
Ii the Court OF Appeals had decided
that repeal to be constitutional there could
have been no charge OF reputation or re-
lt-al TO pay Just debt, but the simple
anrmance OF right to deny a fraudulent
claim fraudulcntly imposed upon the State
against both municipal law and the law Of
nations. II would have been merely the
exercise Of the States right OF sovereignty.
against which, as Mr.. Webster told Bar
ring Brothers i'm the celebrated letter writ
ten when he visited London about the year
1910, there could have been no recourse but
an appeal 20 the justice OF the sovereign. II
would have been Just such I'M exercise OF
power, only in her own instead OF citi-
zen's case, as, by virtue OF her sovereignty,
she authorizes in every decree or verdict
against fraud issuing from courts which
only exist by her sanction. TO dispute
this proposition is TO contend that the
sovereign cannot claim for Itself 4 remedy
it can allow its subject. That is all.
But the decision OF the court,-beforc
which the question was really never az
gucd-WaS adverse to the repeal; and, not
the merits OF the case, but that decision
raised the issue that thenceforh divided
us. Some said, "Tbe law is fixed; we
cannot help it now; we must stand by the
law" "No," said the others; eve can
help it; the decision crrs in denying The
sovereign right OF the State to control
taxation and revenue; it is also I'M
Just and oppressive to the people; 1t |
was passed 10y bribery" And at once |
we began to cast about for some constitu- !
tional mode Of defeating the lava bona !
fde mode based upon some detect IN the |
,u icct OF the law. One Of those modes |
was the plan first suggested in the |
House OF Delegates by Mr.. Massey |
IN 1919, known in tie Legislature !
Is PEARSON Massey's Bill" actively |
by Colonel FulkerSon. voted !
against foIr times and spoken against once |
by Mr.. Riddleberger, and defeated on |
final vote. The main feature Of that bill, |
suggested by Mr.. Massey's familiarity with |
.he subject, was a requirement that cou-
pons should be identified; that being the |
very feature which constitutes the essence |
and value OF the present miScalled Riddle |
berger bill. Was that honest!
1t has been said that this requirement is |
I false pretCnce, meant to nullify the lust !
decree OF the Court OF Appeals, A. Portals |
1uibbling injunction against Il drop OF |
blood was intended to deprive ShylOck Of |
The pound Of Antonio's flesh, which had !
been decreed TO him. But that is mis-
AXE or Misrepresentation. The statute
only cnacts a perfectly proper provision
Tor the protection OF the State. It's pream-
BILE recites the reasons for its enactment
and they ALL believe, | have not the law
before me-reate to the risk OF receiving
coupons, or coupons that,
having once passed through the Offices of
The Treasurer and Second Auditor, have
been stolen and again put into circulation,
Or coupons Of stolen bonds that, having
once been surrendered to the State, have
been again put into circulation by the
thieves that took them. Now that bonds
have been reissued is well known, though
no one knows how many there are: that
they may be counterfeited is plain from the
experience Of the United States, where dan
gerous counterfeits OF well-nigh impossi-
bic detection are constantly in cir
and that coupons may be
presented for redemption a second
lime is very probable from this fact
The committee of the Legislature, which
wo years ago investigated the affairs of the
second Auditors office, found that cou-
)ons which had been paid into that Office.
S31,6SG face value. could NOT
'e found, after prolonged and dilieent
earck. And as 97s per cent. of these were
so coupons-the highest denomination
md only y per cent. were 80 and Sl5cou-
ions Uhe only other denominations. The
Inference was that they had been put into
circulation again-an inference strengthen