Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1885-06-05

The people already are aware of
this treachery and will hardly be
silly enough to put the Democratic
party back into power. 1t is like
committing the lamb to the wolf
for protection for the people Of Vir-
ginia to conGdc their debt settle
mcnt to the Bourbon Democratic
party. The political effect there.
fore of these decisions must be
disastrous to that party"
WORK OF THE READJUsTERs.
F. "WiIl not the Readiuster- Repub-
lican party be held responsible for
the apparent failure of the debt
settlement
"No, indeed, because it is known
Of all men that the Readiuster.
Republican legislation on the debt
question was declared by the Su.
prcmc Court of the United States,
in the case Of Anton VS.. Green
how, l07 United States Reports,
to be constitutional, and the fund
ing was proceeding rapidly under
it until the Democratic party got
into power in November, 1888.
This Readjuster-Republican Legs.
laturc run the schools, on an aver
age, seven months in the year;
T fixed the interest on the debt at 3
per cent, with the rate of taxation
at forty cents on the 500 worth of
property, and, on the other hand,
received the taX.receivable coupon
in payment Of all taxes, debts, and
demands due to the State. Thus
the people of the State and the
creditors alike were satisfied with
the settlement, and, but for Demo.
cratic interference, the Readjustcr.
Republican settlement would have
continued until the entire debt had
been funded
DEMOCRATIC LEGISLATION CRITICISED.
"Do you mean to say that the
Democratic legislation is the cause
Of the failure of the debt settle
mcnt Z"
81 do, most emphatically."
How do you make that out p
Because the Democratic Legis.
lature Of last fall passed a number
of acts in perfect conflict with the
Read juster Republican legislation
that had been held constitutional
by the Supreme Court of the
United States, and it was because
of this Democratic multiplying legis. |
lation that the creditors Of Virgin. !
ia sought and obtained the iuris. |
diction of the federal court, which |
efforts on their part resulted in the |
recent decisions. | can refer yOu |
to a Democratic act directly in |
point.
First. BY the Readjuster-Re !
publican legislation tax receivable |
coupons were made receivable for
all kinds of taxes, including land, !
personal property, caDitatiOn and
licenSe.tax, the only requirement Of
that law being that the coupons
should De proven to be genuine. !
This law did not impair tho Obliga.
ton of any contract, but gave the
all that ho could ask for
his coupon.
4" Second. The Democratic Leg
islature passed Il law in 1884 that
declared First, that coupons
should not he received in payment
of license-taxes second, declaring
that all former acts in conflict with
this act were thereby repealed.
Here was u case where the DINO.
cratic Legislature sought to nulliiy
an act of the Readjuster Republi.
can legislation, and actually to
all licenSe-taXes from the
reach of the coupon.
BoYCoTTING CoUPoN-HoLDERs,
"ln the briefs of the counsel for
the bondholders, filed in the Vir.
ginia coupon cases recently decided
by the Supreme Court Of the
United States, arc presented seven
)r eight similar acts of the Demo
ratio Legislature, that not only
sought to nullily Yirginia's con.
ract with her public creditors, but
to borrow an expression Of the
earned counseD actually 'boy.
,otted tho odupOn,holdcr. Col.
mel II. Il. Maury, a son of the late
distinguished Commodore Mat.
hew L. Maury, who was one of {
he counsel on the coupon cases {
md is a sterling Democrat, thus
poke to the Supreme Court of the
United States in depunciation of |
he Democratic coupon legisla. /
ion: q
! oontond, however, that this new RENE v
y referring to the Read terlegislation)
as really been repealed, perhaps through
nadyertence, perhaps ignorantly, for what q
ray not be presumed of a Legislature "
apabe o. passing the laws iustaludtd TO Il
he last tax bill provides that all taxes O
ssessed therein shall be paid only in 4
honey, and that all inconsistent acts and :,
arts Of acts arS repealed, As any pay Il
lont az taxes with coupons under the
Readjgster) act Of January, l552, is GER
linly inconsistent with the above pro- o.
ision, " that no tax shall DO paid save in >
oney,' 1t seems that, among the many i
her remarkable proceedings Of the last n
legislature, they have actually repealed n
le very act which they were blindly Gu =
savoring to strengthen. "Whom the Z
DIS destroy they first make mad lt