The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1883-12-06

They will be referred 10 herein only so far
rs may be needful 10 support statement
or enforce n recommendation.
THE PUBLIC DEBT.
Now, rs for many years past, fore
most in importance OF the subjects
which viii demand your attention stands
the public debt. During the last
session OF the General Assembly the
act approved February IL, 1882. establish
ed a basis upon which the creditors OF the
State were invited TO fund their claims for
principal and interest into new bonds bear
ing per cent, and the supporting enact
ments contained in chapters and Al OF the
Acts OF Assembly. session lSSl-'S2, have
so far fulfilled their purpose as to afford
relief TO the Treasury. and TO make possi-
bic the discharge OF the floating debt while
meeting promptly all cash demands for the
expenses OF administration.
But these measures in no sense consti-
tutc settlement OF the debt The total
amount Of old Indebtedness, OF all classes,
principal and interest, funded up TO the
lst Of october last was S2.492. 70719, and
the amount OF bonds and certificates issued
under the act OF February II, 1882, 10 the
same date was a, ,j27 ,S03.30. 1t is thus ap-
ready for delivery during a period cover
ing mere than twelve months, the amount
funded under the Riddleberger bill has
been less than per cent. Of the entire debt,
and oi uniunded obligations, principal
and interest, outstanding against the Com
monwealth remains the sum Of $50, ,411.-
0SG.22. Within a much shorter period,
under the McCulloch bill, more than eight
millions OF bonds were surrendered, and vet
that measure utterly failed to settle the debt.
II Is true that the Supreme Court OF the
United States in the ease OF Antoni Us.
Greenhow sustained the act Of January II,
1882, as furnishing an adequate and consti-
tutional remedy TO the holders OF taX-re-
cciVable coupons. But experience has
shown that act 10 be deficient in several
important particulars. The enacting
clauses omit any reference TO the coupons
" detached from bonds of the Common
wealth under the act OF March %, 1879"
The eventual effect OF this omission must
be either 10 exempt the holders OF ten
forty coupons from the conditions imposed
upon persons presenting in payment OF
taxes coupons produced by the bonds un-
der the act OF March 80. 1871, or to force
both the State and the holder OF McCul-
| lOch coupons 10 rely on the act Of January
I 2G. 1889. commonly known rs Coupon
/ Killer No. >. That act has not been sub
/ iCctcd to the construction OF any court OF
appellate jurisdiction, State or Federal.
Experience has also proved that the re-
quircmentS of section OF the act OF Janu-
airy IA. 1882, are not sufficient to procure
proper care OF the States interest in The
/ suits therein authorized to be brought in
corporation and county courts by persons
/ in whom the claims Of cOupon-hOlders and
! Taxpayers are conjoned. The law says
| that "prOof OF the genuincness of the
| coupons" shall be made. and requires
"the attorney for the Commonwealth
/ in the lower courts" TO "appear for the
! Commonwealth and require proof OF the
genuineneSs and legality Of the coupons in
question" II is further provided that
= either party shall ne entitled TO eXcep-
| tious, and an appeal TO the Circuit courts
aud Supreme Court Of Appeals on the trial
OF this ISSUE" But the service OF attorneys
! for the Commonwealth in the lower courts
| i'm this behalf has been at best perfunct0ry.
! Thousands of dollars OF coupons have been
/ passed through such courts without the
scrutiny needful to establish either their
"genuinenesS or their legality" Unless
exception is taken in "the lower courts >
! by the attorneys for the COmmOnw wealth nc
ground for appeal on the part OF the state
| exists. Within the official knowledge OF
| the Executive coupons have passed through
| the courts upon the sole evidence OF per-
sons who could not by any possibility tes-
tify with knowledge as to their "genuin6-
ness and legality" Judgments have been
rendered against the state Treasurer on
coupons which had no number, and there
! fore were the legal product OF no bond
| During the past six months, owing to sucl
causes. funding under the act Of February
| II, 1882. has practically ceased. During
! that period, for the causes stated above
no suitor has failed 10 establish his
! case against the state. except where
the Executive, relying upon his con
| Stitutiona authority to execute tho
laws. has been forced to employ coun
sci to represent the Commonwealth, anc
sometimes to require ci the Attorney-Gen
cral services which in no lawful way could
be imposed upon him.
Again. the Riddleberger bill and accom-
panying acts are seriously threatened hy 4;
recent decision OF the Federal Court fol
this circuit.
A Federal Judge has deliberately pro
nounced an opinion which asserts iuris
diction for his court Of suitor against the
Commonwealth Of Virginia, should The
ease involve a certain amount Of money.
II is not the province OF the Governor
of Virginia 10 assume the intentions OF The
legislative body; still less to dictate theil
path Of duty. But as a former Governor
l1HollGay) eloquently wrote in 1878; L
i'm, appeared that the General Assembly is
not the Government OF Virginia. There
are two other departments whose duties are
as solemn and whose responsibilities arr
rs prGfound. The same oath holds then
within the sphere OF their respective ope
rations as bounded and defined by lh'
Constitution. No one OF the department.
has right to shuttle its duties upon an
other. thinking thereby TO eyade or ayoiC
responsibility
Accepting this view, and attempting e
pass no Judgment Cn those who have du
iered, and may still differ. with the princi
Dles and policy 20 far advocated by th'
Executive i'm dealing with the public debt
tbe foregoing statements and the subioineC
recommendations are respectfully submit
ted.
II is first recommended that the act OF
January II, 1882, be 80 amended rs TO re-
ouire service OF the attorney for the Com
monwealth; second, TO define the manner
and method OF verification Of coupons
third, to demand that witnesses should be
summoned from such departments OF the
State government as would at least DC
likely TO know which coupon was genuine
or which fraudulent; fourth, that the aci
above referred 10 should be so amended as
/ 10 include the coupons on the ten-forty Is
sue of bonds; fifth, that in obedience tc
tbe Constitution no money be paid out OF
the Treasury under plea Of reclamation eX'
cept by bills Of appropriation.
! The measure OF duty which seems to ap-