National Republican., 1883-03-12

The decision referred to produced two very
marked rcsults-one being political and the
other financial-each of which acted upon the
other Tho bourbon politicians stifled their
anger as well as they could and declared that
the decision "settled the debt question and
took IL out Of politics." This was untrue,
but the case was desperate, and better a coali-
tion with the wicked rcadiustcrs than a con-
tnuance in the outer darkness in which for
some time past they have been weeping and
wailing and gnashing their teeth The Rid
dleberger law, which these bourbon fdnders
are hoarse with denouncing as the sum of all
villainies, they now hug to their bosoms on the
ground that IL has been declared valid by the
supreme court, although that tribunal has
never yet had occasion to allude to its exist
ence. Now they are prepared to annihilate
Malone aud all his works on the sole ground
that all his works have been pronounced just
and righteous by the highest judicial tribunal
in the land. They fall prone on the ground
at the feet of Massey and Fulkerson and say !:
Great is rcadiustment, provided always that
this only includes those readiustcrs who are
willing to be the servants of bourbon
funders."
But all this while, through the shouting
and the rejoicings of the bourbons that their
cause is lost in the supreme court, there runs
minor strain on the financial chord, and the
cry is that poor, dear old "Virginia's Sc
curities are going down" as result of the
sustaining of the coupon bill by the supreme
court. But it was only the old, played-out
in-securities that went down-the old bonds
which the frantic fundcrs say shall never,
never be exchanged for new bonds under the
Riddleberger law. The Riddlebcrger bonds
bounded up, while the old bourbon issue sank
hopelessly down. The owners of the latter do
not thank the funder politicians for jumping
on to their called securities soon with their
and Massey's big hob-naied shoes. They
wanted to SELL They have thrown so
that they were afraid to take in exchange the
amount of them to which they would have
been entitled. Imagine their horror at Sec
ing the genuine bona fde gold-bearing three
per cent. Riddlebcrgcr bond buoyed up by
tho CLEAN d recognition from Washington,
whilo the madly worshped bastard bond of
came an effort to hedge, Mr.. William Royal,
tho ear of all the funders, and attorney for
the bOndholders in the very case decided by
the supreme court, telegraphed from Wash
ington to Richmond that he had won for them
victory. He must have tclcgraphcd the
same to the bondholders in London, for yes
terday's papers contained the following dis
patch;
LONDON March 10.-At a meeting Of the COM
mittee of Virginia bondhoders yesterday 1t was
resolved 10 do the utmost to vindicato the claims
Of the bondholders upon the state of Virginin,
and to Gduiye The holders not 10 take dny step tOicdi
connecting He bonds under The Ridd!cberger Gc.
Now, if the holders of the outstanding
bonds are not going E" to take any step toward
converting the bonds under the Riddlebcrgcr
act" it is perfectly obvious that they must
fight to get the Riddleberger act out of their
way. No interest will until then be paid ON
any but the Riddlebcrger bonds. They
hoped to collect the money on their old
coupons by selling them to taxpayers, to be
used in the payment Of taxes. But the su.
preme court Of the United States says that
before a coupon will be u tender for tax in
Virginia its genuineness must be established
in Virginia court, and the law of Virginia
which tho supreme court upholds, provides
that the coupon holder must first deposit the
amount of his tax in money before he can con
tend in court for the right to pay it with Che
coupon. This will not greatly benefit the
coupon peddlers. The love ofmoney is stronger
than the prido of opinion, and after one more
unsuccessful struggle at the polls in Vir
ginia next fall to capture tho legislotur,
and repeal the Riddlebcrger act, the foreign
bondholders will como in gracefully, despit,
Mr.. Royals advice, and get Riddlebergo
bonds in exchange for their dwindinl
/ iHS Nlob OHG
will sell at the best figure to which b,
threats and bluster they can force thSgnar
ket The "lambs" to whom they sell viii
give money to help Mossrs, Royal and Nassc,
in an endeavor to elect a bourbon funde
: legislature, in which Massey and FulkersOl
can get office, while Mr., Royals clients car
take whatever their modesty does not caus
them to forbear
Never has there been louder defiance to tn
J sturdy readjusters of Virginia than is con
p tanned in the London dispatch above quoted
placed on the wires when u few funder fugle
! men and a brace of renegade readjuster
, were singing them lullaby, the refrain o
/ which was that the debt question had beel
: taken out of politics by decision of the su
G preme court sustaining the Riddleberger act
G Forewarned is forearmed. The issue i
a now clear. That act was made by tn
D democratic and republican readjusters,
d was the righteous cause which first brough
!. men Of different parties and different race
J, together in Virginia. II was the uprising
;. au outraged people against the invalid ac
b Of legislature by which false del