The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1885-03-19


municated, affecting the finances of the
Commonwea lth. At thai time the sources
of general information were limited. The
confusion and disturbance incident to the
war and the laxity of interest in such mat
tiers under military administration had in
duced a degree of Indifference or careless
ness as to such matters. which might not
otherwise have obtained. But above all
the Governor was presumed to state the
actual condition of affairs and in this IN
stance the people did not question the es-
innate given at the time.
The Courts having declared the funding
of the S21 .OOO, COO a contract, and the cou-
pons receivable for all taxes and dues TO
the State, including the revenues dedicated
to the public schools by the Constitution
the effect of the measure was to flood the
Treasury with coupons instead OF money.
The public schools began to langulsh ana
decay. the charitable institutions TO ee
starved into inef1iciency and the state
government threatened with paralysis.
The debt was increasing annually III de-
faulted interest about $l,OOo,0oo. The
/ Legislature persstently refused to increase
| fine rate of taxation, and thus rapidly was
outright reputation pressing, IN the IN
creased volume of the debt beyond the
power of the people to pay. Notwlth-
standing this deplorable condition OF al
fairs. in every election the Democrats, or
Conservatives as they were known, having
dropped True Republicanism," controll-
| ing every department Of the government,
refused to face the situation and deal with
it. Fearful of losing power, they appealed
to race prejudice and war passions to draw
the public mind away from the ruin that
was impending. In 1876 the Republicans
determined to put a stop to this tragedy,
involving the very life of the State. They
ann ounced their purpose to present no
State ticket and force the debt question
| into the canvass, that a solution OF the
fearful problem might be evolved by the
| Legislature ito be elected, which would
arrest the threatened ruin OF the Com
monwealth. Coy. Holiday was elected
without opposition, on pledge not to IN
terfere with the will of the people, as re-
fected in the Legislature to be elected.
Several measures were formulated for a
reimbursement of the debt, which were We
toed, notwithstanding the pledge OF the
Governor. This aroused the people and
in the next election a Legislature was
chosen more completely committed to re-
adjustment. But by adroit management
the measure of settlement they believed
just was not given them. The McCulloch
Bill was passed, providing substantially
for per cent. interest instead OF 8, ON all
the debt funded under it. but containing
the tax-receivable coupon and the nor
taxable features which were offensive to
the people. and other Objectionable pro-
visions.
Finding that no settlement Of the debt
question could be effected through the
Democratic party, number OF prom.
inent Democrats, including members OF
the Legislature. under the lead OF Gen.
Malone. met and organized what was
known as the Readjuster party. The
State Committee of the Democratic party
formally read them out of that organiza
ton. In the next election they swept the
State, securing the Legislature and elect
ing Gen. Malone to the United States
Senate. In the contest OF 1851 for state
officers and the Legislature, they were
again successful and having both the Leg
islature and the Governor they proceeded
to an exhaustive investigation OF the debt
complication. 1t was found that the debt
as presented in 1871 was incorrect The
errors discovered were corrected the
compound interest was stricken out ano
the whole amount, as thus ascertained
formulated into the Riddleberger bill.
In addition to this the whipping post
law was repealed the capitation tax re.
striction on the ballot removed the pub
lie schools restored to yigor and useful
ness the charitable institutions place.
in a healthy condition and the public
treasury replenished. The people became
hopeful, the State began to prosper, cap
ital came in and the future was promls
ing.
The campaign of 1883 came on. Th'
Democratic party in their convention
adopted platform substantially approx
ing everything the Readjusters had done
They announced the acceptance of the
debt settlement and all the liberal legisla
tion which had been enacted,i in spite o
their opposition, and by methods whicl
are indefensible in the forum of publi
conscience or of public policy, succeeded
The Readjuster movement was in re
spouse to the demands of the taxpayers 0
the State. They believed the funding bill
of 1871 was the result of corruption-the
believed it was unjust in it's demands
oppressive in its operations and destined
to be destructive in it's results. In TIT
districts where the whites predominant i
received the largest supp ort-where the
intelligent labor of the people had en-
HANGED values and sponged off the scars O.
war. 1t was a movement of the yeoman
ry of the Commonwealth, and it is nov
what the opposite party denominate Ma
honeism."
InaSmuch as the measures affecting
State matters adopted by this party have
, all been endorsed and accepted by the De
mocracy, we must look farther to find the
true cause Of the bitter denunciation and
fearful defamation of W hat is now the Re
, publican party of Virginia. 1t may be
found in the offices. Chan ges were made
in these, and wherever a change was made
Democrat was displaced, for they held
, every position Of honor and profit in the
, State. But Gen. Malone had very little
to do with this. Most of this patronage
, was lodged with the Governor, and he is
not the man to allow others to do for him
what the law authorizes him to do. He
J is willing to assume the responsibility OF
his own acts. But it was the loss Of power
: and patronage in the State that occasioned
! so much anger and instigated to so much
abuse and villifcation. And here is found
the animus of the present gratuitous and
brutal abuse to which Republicans are
} subjected.