The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1883-12-20
The Debt Settlement.

The Debt Settlement.
The excited haste in which the Demo-
cratic Legislature is rushing through leg
islation affecting the public debt furnishes
occasion for wonder. Especially so when
this newborn zeal in behalf of the meas
IRE which they denounced as robbery and
disgrace is considered. We by no means
object to the Democracy accepting the
debt settlement, as enacted by the Read
justers. That probably is the best thing
they could do. But when we are brought
to consider the position of the Demo-
cratic party, on this very question, at the
time it was iirs5 introduced and discussed
in the Legislature, and compare it with
that now maintained, we are at a loss to
know of what material modern Democracy
is made. If that party was honest
in its denunciation of the Riddleberger
bill-belieyed it to be cheat and q swim
dle-what must be thought of it now.
when it accepts it and proclaims to the
creditors that they must fund under it as
the only way to have their obligations re-
cognized in payment? And what must
the creditors think Of party that an
nonnced itself to be par excellence d debt
paying party, in the sense that the credi-
tors view it, and after succeeding to
power deliberately resolve that these cred
itors must accept Il settlement which they
had been informed was fraud and robbery
by the same party that now declares it is
the only settlement that win ever1be sane
toned or maintained?
While the position the Democrats have
taken on this subject fis a complete and
exhaustive vindication of the motives and
policy of the Readjusters, it by no means
constitutes 4 justification of the incon-
sistency and double-dealing of the Demo-
Gratis. 1t exposes the insincerity of all
their clamor against the Readiusters as
repadiators, and shows to the Northern
people.who have been lead to believe. from
reiterated statements, that the Democrats
really were anxious to pay the debt as
stipulated for i'll the several funding bills,
that this assumption was false pretense
and made to deceive and mislead.
In view of this record, the question
arises where must we look for the line that
divides the ''best people, from the com
mon herd? The attitude on the debt
question was thought to be the point of
divergence. but as this has been aban-
doned, the inquiry is pertinent-wha pc
cularity must be recognized as that which
givesa richer flavor of virtue and gentility
to one political nominalism over another /?
All that was charged as bad in the Read
justers has been accepted and endorsed
by the Democrats. They out-Herod Her.
cd as to REIMBURSEMENT and assume po-
sition of inconsistency that is totally
indefenslble either by rules of logic OF
ethics.
1T extreme and eXtravagant asserya-
lions and resolves will dispose of the debt
question on the basis of the Riddleberger
bill. it certainly viii bemade finality. By
unanimous vote, in both branches of the
Legislature. this determination has been
reached. And if tins shall be the conclusion
of the whole matter, the VALLEY VIRGIN
IAN may congratulate itself, that after
years of labor and suggestion. the Demo-
cratic party has been whipped into doing
what ought to have been done years ago
arrange the debt on an equitable basis,
consistent with the revenues, OF increase
the revenues by increased taxation, SO as
to meet the demands of the funding bill.
AS early as the close Of 1876 this paper
started out with the proposition that the
debt complication had to be disposed Of
that the augmentation of the public debt
by default in interest had to cease, and
that to reach this consnmmation it was
necessary to disrupt the old Conservative
party. Both propositions have been prac-
tically accomplished and now if the peo-
pie who have been profited by our advice
and arguments, will heed our admonitions
again, they will range themselves in 1884
with the enlightened and progressive pol
icies which have distinguished the govern
ment OF the United States for the past
twenty years. and assured prosperity to
every section of the Union.