The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1885-04-02
Facts from the Record.


the debt issue. But as the whole matter
of the debt has been exhaustively discussed
before the Supreme Court of the United
States, within the past two weeks, we will
content ourselves with giving the resolu-
tions of the respective parties in the con-
test of 1881, as declared in their platforms,
so those outside of the State may under
stand the position of each OF the local po-
litical organization to that question. From
table published elsewhere, it will be
seen that Judge Staples, in part represent
ing the State of Virginia, and employed
Ill that capacity by the Democratic Sink
ing Fund Commissioners, has presented
calculations to show. that the actual
amount due from Virginia is about $l0,-
600 ,000-that he takes the data OF Mr..
Massey as that upon. which he relies and
predicates his statements and his argu-
ments before that august body. Mr.. Mas
sey was denounced by the party Judge
Staples represents. and to which he pro-
fesses allegiance, as the arch repudiator, y
although it supported him Massey for
Congressman-at-large in the contest of 1881.
While doing so, and with its double deal
ing, evasive and deceptive language in re-
| lation to the debt as embraced in the res
olution we quote, it was yociferously de-
nouncing the Readjusters and Republicans
as highway robbers and appealing to
| Northern sentiment for. It's sympathy and
| support as the ''debt-paying party of. Vir.
ginia.
| We quote the resolutions i'll the order
of their adoption. The Readjuster Con-
yention was held in Richmond, June. 2,
1881. 1t nominated w. E. Cameron fol
| Governor, Jno. L. Lewis, for Lieut.. Gov
ernor and f. S. Blair for Attorney Gen
eral, and adopted the following resolution
on the debt question
1--WE re-assert our purpose to settle and ad-
| lust our State obligations on the principle OF
! the "billto re-establish public credit known
| as the .Riddleberger BILL" passed by the last
| General Assembly and vetoed by the Cover
! nor (Holiday) We maintain that this measure
recognizes the just debt of Virginia i'll this
| that it assumes twe-thirds of all the money
| Virginia borrowed, and sets aside the other
| third to West Virginia, to be dealt with by her
| in her own way. and at her own pleasure: that
| it places those of her creditors who have re-
ceiyed but per cent. instruments of interest
| in nine years, upon an exact equality with
| those who, by corrupt agencies, were enabled
| to absorb and monopolize our means OF pay.
ment; that it agrees to pay such rate of inter
est on our securities as can with certainty be
| OFT Of he and that
it contains all the essential features of final
ity."
In addition to this resolution on the
debt question the Convention declared il
favor of sustaining the public schools ant
the charitable institutions, removing the
capitation tax restriction on the ballot
and the repeal of the whipping-post law.
The Democratic, or Conservative Con
vention met in Richmond on the 4th o.
August, 1881, and adopted the following
resolution:
That the maintainance of the public credit o
Virginia is an essential means to the promo
ton of her prosperity. We condemn re pudia
ton in every shape and form, as blot upol
her honor a blow at her permanent welfare
and an obstacle to her progress in wealth, in
| fiuence and power; and that we will MAKE
| every effort TO secure settlement Ofthe public
debt with the consent of her creditors, which
is consistent with her honor, and dictated b!
justice and sound public policy; that it is eini
nently desirable and proper that the severa
classes of the debt now existing should be uni
fed so that equality, which is equity, may con
troll in the annual payment of interest. ant
ultimate redemption of principal; that with {
view of securing such equality, we pledge ou
party to use all lawful authority to secure set
Element of the State debt so that there shall bt
but one class of the public debt; that we viii
use all lawful and constitutional means in oul
power to secure a settlement of the State deb
upon the basis of q per cent. bond. and Hd
the Conservative Democratic party pledges itse, a
part of its policy, not to increase the present rate
| tordtion."
This shutting, contradictory resolution
was adopted in the face of the fact thai
the revenues were not adequate to the
payment of the interest on the debt, sup
port the public schools and maintain the
State Government 1T was known at the
time of its adoption that the debt ha(
been increased nearly $4,000, 000-includ
ing the amount due the public school fund
interest on the literary fund, outstanding
coupons. and floating debt. pressing fol
payment, of about So, 100000. The purpos'
was clearly here declared that if the credi
tors would not accept a 8 per cent. bond
) then interest was to continue to default
the public schools to be robbed and th
current expenses Of government to be pro
, tested The practical operation of tn
policy thus announced would have beel
eventual reputation, by reason of tn
. inability of the State to meet the rap
IDLY increasing debt-augmenting eacl
year at the rate of nearly amillion dollars
while the public schools were famlshln!
and on the verge of ruin, and warrants OF
the Treasury hawked about on the streets
with no one willing to take them at an
price.
The Republican Convention convene'
in Lynchburg on the 18th OF August
1881, and the following resolution wa
its utterance as to the debt question
THAT amongst the principles of the Republi
can party, none is of more vital Importance t.
the welfare and interest of the cowntry in al
it's parts, than that which pertains to til
sanctity of government contracts. 1t therefor
becomes the special duty and province of tn
Republican party of Virginia to guard and pro
tect the cerdit of our time honOred State
which has been besmirched with Reputation
or covered with distrust by the gross misman
agement of the various factions OF the Demo
| cratic party, which have controlled the legs
laton of the State.
J ''That the Republican party of Virginia here
by pledges itself to redeem the State from tn
discredit that now hangs oyer her in regard T.
her Just obligations for moneys loaned her TO
constructing her internal improvements ant
charitable institutions. which, permeatinl
every quarter of the State, bring benefits OF ia
greater value than their cost to our who'll
people and we in the most solemn form
pledge the Republican party of the State to TIN
full payment of the whole debt of the State
less the one-third set aside as justly falling OF
West Virginia.
The platform, with this resolution en-
braced, was unanimously adopted by tn
Convention of Straightout Republicans
A bolt had taken place, or rather delegate
claiming to have been appointed to tn
Convention, refused to meet in the sam
hall, and organized in another building. l
was apparent that the Republican part
| xuac divid1ad NOT On tho daht ,ocfino I'm