Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1885-03-13

The Woodstock Virgiaidn will
look in vain through the Readiuster
legislation, with respect to our State
debt and the tax coupons, for any
thing at all like the Bourbon legis-
lation in pretended aid of Read.
iustment. Even IambletOn & Co.,
Of Baltimore, who are the leading
coupon.scalpers OF the country, say
in their last circular, dated March
Z, 1885:
That the last Legislature assisted largely
in killing tho Rddeberger and Coupon
Killer bills there can be no doubt, but that
such was the intention Of the members of
the Legislature we do not for moment
believe. We have no doubt their iuten-
ton was to perpetuate the Heidelberg r
settlement, and to get rid OF the disagree
able debt question. Fortunately for the
bondholders they did not understand tho
subject, and every amendment Chat W9i
passed or new law that was enacted, was
most favorable 10 the cause of the bond
holders. The Coupon Killer bin which
was sustained by the Supreme Court pro-
vided that any Taxpayer, no matter Tor
what purpose the tax was levied, could
after tender Of coupons, pay his tar i'm
money, and then bring suit against the
State, and having proved MS upous gen
uine (Which was easy to do. as there never
WAS a spurious Onc), receive their full face
value from the State. The last Lcgi-la-
tnre changed all this, and declared that
the license aud schOo-tax must be paid in
money, aud refused TO permit coupons Of
fered 10 pay these taxes to be proved aud
collected. This upset the whole coupon
killer process, and entirely removed the
remedy which the Supreme Court decided
the only constitutional feature Of the Cou-
pon-Kiiler bill. Now the naked question
goes TO the Supreme Court, stripped of its
only saving clause, and the bondhold-rs
could not be in better position d they
had made the issue and selected the de-
Tense themselves.
Now, all that is qnoted from Il
firm and circular which are fore
most in representing eloreign and
domestic coupon-scalping interest;
and all they can say in excuse for
the Bourbon. Funder mislegislation
is that it was done through lguo-
rancel Yet, according to the same
high authorities, it "assisted large
ly in killing the Riddleberger and
Coupon Killer bills" They say
"there can be DO doubt that this
Bourbon legislation did this. They
say that every amendment and eve
ry act passed by the Bourbons "was
most favorable to the course Of the
bondholders;' and that the upshot
of it all is that "the bondholdcls
(meaningcoupon-scalpers)c ouldnot
be in a better position if they had
made the issue and selected the de-
Tense themselves"
The acts of February Z and %,
1884, and the various provisions Of
the Assessment bill OF March ID,
1884, are rank population with re-
spect to license.taIes, and thus pre- |
sent an issue the Republicans and |
Readjusters have always cautiously |
avoided. The fact is so, no matter |
whether it be the result of Bourbon |
Funder ignorance, or Bourb0n-Fun. /
der design. 1t is incredible that it |
can be the result Of mere ignorance, |
although the BOuroons have a bOun. !
tiful supply Of that; for are they |
not "the best peoplel" aud did
they not llour Legislature, by fraud |
and force, with their "ablest mem !
and their "ablest juristsi' They |
said 20, at any rate. They still say |
so. And how could so much learn |
ing and intelligence-sO much lie.
gal skill and cunning do all this !
oupon.scalping legislation through |
ignorance
Bah. Take either ples they choose,
and it ruins them Either conlesses |
that they are not to be trusted in |
the prime matter which 50 concerns !
us all. Designed,y, or ignorantly, |
they have betrayed Virginia and |
Readustment, and for this high |
betrayal OF . great trust they must |
answer to the indignant people,
Wing.