Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1885-05-01
COMMENT UPON THE DECISION.

The New York Times, republican,
says it is not an easy mBtter t.
reconcile Mondays decision with
that Of the same tribunal of March
1888, in the case of Antoni against
the city of Richmond, when it was
held by the majority Of the bench
that there was no violation Of con
tract in refusing the coupons, mas
much as remedy was provided
which was substantially equivalent
to that which existed before. The
Times adds: There may be fine
drawn distinctions between the
technical grounds upon which the
case just decided and that decided
| in 1888 rested, and between the
acts OF the State cited in the two
instances, but the doctrines pro
pounded by the cOnrt on the two
occasions are widely different
New York Herald, md: The de-
cision is a staggering blow to re-
pudiation. Under this decision
the State must accept the coupons
in payment of taxes and other dues
or take nothing. 1t cannot refuse
to honor its own paper and then
exact payment of taxes in money.
This is the judgment Of the ma.
jOrity Of the court. II is based on
the ground that the readjuster legis-
lation Of Malone, Riddlcberger ct
al. is simply reputation that it
is unconstitutional aud VOID be.
cause it impairs the obligation of
the contract which the State origi-
nally entered into with it, credi-
tors
New York Tribune, rep: aside
from the effect which it will have
on the feelings of the owners OF
S23, 100000 of consol bonds issued
by Virginia in 1871, this result will
exercise 4 wholesome influence
politically and financially all over
the South, where the flower of re-
pudiation has long been ready to
burst into full bloom on the slight
est encouragement
Philadelphia Press, rep; by
| Mondays decision all the artificial
barriers raised by the readjuster
Legislature are swept away, and
further reputation by Virginia is
made impossible as respects at
least the interest OF its present
debt. The principal may or may
not be paid, but as long AZ it re-
mains unpaid tho State can collect
very little money by taxation until
the annually accruing interest has
been satisfied. If the people OF
Virginia intended to pay promptly
the interest OH their debt this de
cision would make little difference
to them, for it is Of no practical
consequence whether the interest
| is deducted from the amount due
| the treasury before it is paid in OF
drawn out oft after the full amount
is paid in cash. But the decision
stands in the way of the favOritC
| Virginia method of standing Of
creditors until payment is entirely
and every way convenient, and
may be expected to displease not
the readjustars only, but the Bour
bOns quite as much. The latter
have been less loud and unequivo
cal in their reputation professions
than the protested readjusters, but
in practice the States creditor,
have been able TO discover very
little difference between them. We
trust that this decision will take
the Virginia debt question out o
politics and set it finally at rest
| Philadelphia Times, independent
Thus the persistent effort to re
pudiate even the accepted debt o
| Virginia has been decided in thu
court of last resort, and the re
pudiatOrs have lost their case. This
| will be i'll news to the people o
that State of whatever party. Al
though the democrats fought Ma
hone while he vas carrying on the
fight for reputation, they have
bound themselves to accept hi'
settlement, and have enacted law'
further impairing the obligation o
the State to receive the interes
coupons. As a result the sO-calleC
Riddleberger bill has been used az
the basis for the debt, and no pro
vision has been made or attempted
or proposed looking to the pay
ment either of the sixteen mllIon'
allotted to West Virginia in 1871
or tue twelve millions sliced OIL II
1882. Both the supporters and thu
opponents of Malone are tarreC
with the same stick, aud 1t IS dit
J fcult to imagine either elemen
going to work in good faith to re
deem the credit of the State b.
providing for tho payment OF 1T
lust debts. With public sentlmen
i'm this condition there is llttl'
likelihood that these DECISIONS vii
bring much money into the pocket
of the creditors, or relieve tn,
State of the terrible disgrace which
/ it has brought upon ITSELF
Philadelphia Inquirer, rep: 9Th
Supreme Court of the United
States has decided that the fisca
officers OF Virginia must recely'
the debt coupons in lieu of taxes
) This opinion has been arrived at
too, in face of the amendmen
which declares that State canno
be sued by citizen. The decision
! has all the appearance OF DOM
pure Justice irrespective of States
rights, and so it will receive genera
applause. The State Of Virgins
% ought to pay its debts, and ther
is no scaling down possible. Their
4 ought to be some power to max
Q the State Of West Virginia pay he
share, but there is not, and sh
9 will not hear the burden. SO tn
r odd Dominion is in for it, and sh
% may as well rate her tax assess
+ ments accordingly
! Philadelphia Record, dem; Re
pudiation received stunuin
; Touchdown in the Supreme Cour
=, Monday, when the Virginia Ia
l coupon cases we're decided IN favo
of the bondholders and agains
70 the State. 1t is to be hoped tina
r this may be the last heard of tn
J.. readjuster rascality, which has s
/ A A l.. Lon