National Republican., 1883-01-08
THE VIRGINIA DEBT.
An Interesting Case to he Argued In the
Supreme Court To-day.

Supreme Court To-day.
Attorney General Blair, of Virginia. will
to-day argue before tho supreme court tho
case of Antoni VS.. Grccnboro, involving tho
constitutionality of recent legislation hy the
general assembly of Virginia. As opposing
counsel will bo present, the court and the
country will he informed rs to question
much misunderstood. That those who falsely
and recklossly charge rcpudiation upon the
readiustCrs are themselves ObstruCtiOnsts OF
honorable legislation for the protection OF
both Virginia and her creditors will, we be.
licvc, be demonstrated by the ablc gcnticma
representing the interests of the old common
wealth
The issue involved in the pending case is
the power of a state legislature to control
remedies in civil causes From preamble Ia
conclusion there is nothing in tho act to be
adiudicatod affecting either directly or re-
motcly the state debt of Virginia or tho
binding obligation of tho state from any
standpoint of calculation. Ingcniously con-
trivcd and executed forgcrics of the genuine
bonds of Virginia have flooded the markets OF
the country. Tho financial officers of the
state have found il difficult aud laborious
TO discriminate between the genuine
and tho spurious bonds. Last winter
the two auditors and tho treasurer
frequently counterfeit coupons were presented
for payment and in other instances coupons
already paid were presented. Examination
revealed the alarming fact that in some cases
payments had been made of the same coupons
twice and oven three times. A committee,
consisting of Legislators of both political par
tics, made report in accordance with these
facts and thcrCupon cnsuCd the passage of
the bill now the subject of investigation by
the supreme court. BY it the holder of cou-
pons proven to be genuine can utilize them in
payment of all dues to the state. The prcam-
bic of the bill rccitcs the facts iustiiying the
act necessary to protect, not the state alone
from forged and fictitious bonds and coupons,
but the owners of bona fdo securities of the
state.
1t is noteworthy that the act of the Vir-
ginia legislature is almost literal copy OF
the Tennessee act adiudicatod by the supreme
court of the United States in the case of Ten
nessce vs.. SnCed (Gth Otto, 96th U. S. rcports)
the difference being that Tennessee by bank
notes of the Bank of Tennessee pledged her
faith that they should be tax receivable, while
rs to Virginia il is claimed that the coupons
pledged her faith. Having affirmed the
validity of the act of tennessee, the supreme
court Of the United States twice rcailirmcd,
in cases from Alabama and Mississippi, the
doctrine laid down in the act of Tennessee
and the decision bearing thcrcupOn.
Misapprchension as to the bearing of the
pending case upon the general subject of the
state debt of Virginia arises from cOniOunding
IL with subsequent legislation not yet adiudi-
Gated by the state courts. The pending act
has been approved by thcsuprcmc court of ap,
pcas Of Virginia, hostile politically to the
dominant party-so hostile that thcrourt has
already been succeeded by one elected by
the rCadiustCr legislature of last winter. Tho
whole purpose of the act is TO verify the cOu-
pons, and the Gear marlis" of gcnuinenes,
having been established the act provides and
demands that the holders of bona lldo coupons
shall bo protected, and that they shall be re.
ccitable in payment Of all takes, debts, and
lnmnnlS dino 10 the commonwealth.