The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-01-09
Tho Debt settlement.

The action Of the Supreme Court OF the
United States In remsnding the virginia
coupon cases to their regular place on the
docket, thereby in eject postponing their
consideration for three years, VIII have a
tendency 70 cause the RIDDLEDERGER settle
mcnt 10 become success, aud will simplify
the work before our General Assembly.
The bondholden cannot afford to wait
three years longer upon an uncertainty.
n Il were known that the Supreme Court
wou,d finally decide In their favor, they
might. and many Of them would, await
that decision rather than fund their Nc
CUIl.ocH bonds or their bonds issued under
the act Of 1871 In these new RIDpLEBERGER
bonds; but such thing cannot De known
beforehand.
The English bondholders had reached a
wise conclusion In regard to this matter
before the decision in question was made.
In the last issue Of the London Money that
has come to hand there is an article headed
:. virginan Enthusiasts" which manhes's
n knowledge that Is remarkable IN an
Eog,ishmau, touching the true state oil
things IN Virginia, and In the supreme
Court of The United States. We quote:
"Now, the virginian enthusiast wou'd
have Il that the resolution was introduces
nv the recently-succcssful Democratic par
Nv In order to give finality to the questioh
and TO secure immunity from further e-
gislatiye injustice. He goes on 10 say 'ii''
il the Supreme Court should cohnrh 'ne
decision OF the subordinate trIoHnais,
which decides that whereas the TAXPAYER
has no power TO compel the ota'e W Ic
cc,ye his coupon, so the state nus ~
power to compel payment OF taxes aileI
tender of coupons--if the Supreme Court
shonld so decide, then the effect OF the
present action Of the Democrats VIII DC 70
preclude the possibility OF any SUBSEQUENT
legislation enabling the state 10 receive
its revenue otherwise than in coupons
We need not say that this Is SIMPLY non
sense
This refers to Mr.. ANDERsoN's resolution,
we suppose At any rate. the writer OF that
paragraph is not likely to be deceived by
any stories that can be sent over to England
relative to the prospective action either OF
the courts OF the United States or OF the
Legislature OF Virginia. 1t is well that our
creditors should understand the situation.
They will know how to act. We need not
say that they will have to fund under the
RIDDLEBERGER bill or go without their IN
terest. We believe they will recognize this
as fact, and govern themselves accord
ingly.
We have said that the action OF the
Supreme Court in postponing the Virginia
coupon cases for three years simpllhes the
work before our Legislature. We are not
sure but it has relieved that body from all
trouble in regard to the matter. But as 10
this, that body will OF course Judge Tor
itself. II any action Is needed, it VIII be
taken. II moi. not.
The decision in the case OF SmiM Us.
Greenho,r is of no Importance whatever so
far as 1t affects the policy proper to be
pursued by the Legislature. That decis-
ion reinstates the case in Judge BoND's
court. Let 1t be prosecuted to conclu-
sion there, and then go up to the Supreme
Court OF the United States for review (f 1t
can 60 up), and it will have to take its place
at the foot OF the docket, where it will not
be reached in three years. We see in that
decision no reason for self-gratulations on
the part OF the bondhoIders.