Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-01-22
these certifca 8 (Sho surrendered their
bones with the expectation that
A Settlements with West Virginia


bones with the expectation that
A settleme8s with West Virginia
would at least be arrived at within few
years, and that upon such settlement some
provision thus be made for their paymenO
have not only had no satisfaction, but a
belief is beginning TO prevail that such set
tlement will be Indefinitely postpone
until, now, the certificates not only have
no ubstautisl market value, but have be-
come the mere football of brokers and
speculators.
These certificates represent the roads,
bridges and other internal Improvements
now beir daily used by the people OF West
Virginia, while the State OF Virginia holds
the unfunded one-third of the bonds Of the
Common wealth Surrendered under the
Act OF ls7l) in trust for their payment in
accordance with the settlement 10 be made
with West Virginia. Yet neither State is
taking any steps for their protection -
The Daty OF Virginia.
but petitioners respectfully say that it
is no less the interest than the duty of this
Common wealth to press such settlement,
for the following reasons, viz:
First. Nearly 5000 0O0 of the ante.
bellum debt still remains unfunded, and
one of the obvious reasons for this con-
sists in the fact that the holders OF the
bonds have come TO regard the one-thlrd
for which they would receive these eertiti-
Gates as almost thrown away. Petitioners
themselves are the holders Of ante bellum
bonds, all of which they would st once
fund if steps were taken 10 bring about the
settlement herein prayed for. And other
holders, to q very large amount, inform
petitioners that they entertain the same
view and will adopt the same course.
Second. The sinking fund. the literary
fund, and the public schools OF this State
are together the holders o. nearly 5000 900
of these certificates, and would therefore
be benefited
Equally With Your Petitioners.
Third. The bonds already funded
under the act of ISL cannot be Cancelled,
but must be held indefinitely by this Com.
mon wealth, as trustee, for the certifica.e-
holders until a settlement 10 had ps.yeen
the two States.
Fourth. All parties IN this State are
| understood to agree that the debt question
shall be finally settled and removed from
the arena OF discussion. The RiddleSerger
bill provides for all classes Of the State
debt is not and cannot be, considered set
| lied; but II the noIders release Virginia
fom a.. liability therefor, as is herein pro-
! ,.,s,d that ends all further question as to
| whether and to what ex.,,'tt ex:s"nt th:S ConEiop-
wealth is under any legal or moral obli4a
tion on account of the one-third OF her old
: debt, by the voluntary act Of the creditors
| themselves"
A Cheerful Programme.
"Iou will note the cheerful argument
contained in the frs. OF the petitioners
reasons as looked at from West Virginia
taxpayers standpoint. Besides the de.
70 ~ ifna atap nj IN tkarn
is still some $7,0O0OO0 OF the al Htebellum
debt remaining unfunded which can be
turred in, and petitioners have a few
bonds besides which they might be in.
duced TO add to the demnition total
There is q recklesyness in the willingness
Of the petitioners TO cooperate that sur.
passes Mr.. Mantillina The bill is in &C
cord with the memorial. The enacting
clause reads as follows:
The Governor shall invite the State OF
West Virginia 10 unite, with a view 10 such
settlement, with this Commonwe in
appointing Board of arbitration, to ascer.
tsin the amount of West Firginia's indebt-
eGness in respect to the deOt
Incurred by Virginia
before she was dsmembered; said Board 10
consist Of one arbitrator selected by West
Virgins, an ther seiectt d by the Governor
and Commissioner of the sinking fund OF
virginia, and the hi n 10 be selected by
tEe'two so chosen all of said srbitrators to
be disintercst.d persons aEd Ron-reSidents
of either State; and said arbttrators shall
he notified Of their appointment and re
quested to act as such as soon az praCtica.
bic after their appoiI uent. knd should
the P'ate of West Virginia, by declining
or by failing for the space OF eighteen
months to unite IN the appointment OF
- a 10 kar ala
ure TO refer said settlement 10 the SCpreme
Court Vt the United States, the Governor
of this Commonwealth shall cause to be
instituted in said Court, in the name OF
Virginia, proper proceedings 10 secure the
settlement aforesaid
The PrOI able Hesnlt.
What the result Of these proceedings
will be, yeu can Judge as well IS | can. ] |
do not believe the Virginia Legislature is |
going TO pass any such bill as this session
for the reason that 1t never passed any be- |
fore when it had the opportunity, and the
party low in control there has come into
power too recently to risk going back into
retirement st once by renpening the debt
question. Sor do | believe it likely that |
tie people Of West Virginia are going TO be |
talked into. paying these deferred certih-
cafes by any paid agents OF tne syndicate
ihst bas go5bled the biggest part OF them.
such d performance would De piece Of |
poi ticaI dishen in any shape in which |
it might Be carried through, as well |
bring ng political and financial ruin on the |
state. By the time Virginia is ready to |
arbitrate. West Virginia will be in ample |
condition to pay the portion which fair |
arbitration may find due from her. In the |
mean time, however, it will be well enough |
70 keep lookout on the movements OF an |
orgsn zatiOn which has embarked in spec. |
ulaIion large enough TO make it desperate
IN its methods and reckless Of consequences |
to either State, SO that it Accompanies its
nun lrls " Ian.