Daily Republican., 1885-04-25
Tne Virgtnia Coupon Decision.

Virginia is told at last by the gu
preme Court Of the United States that
abe must pay her honest debts In an
homes, manner. The case decided In
yolvei the validity Of certain financial
in Virginia. which was tol
the effect that the coupons OF inc
State bonds need not be receiver III
payment Of tie Sta.e taxes. Inc Mo
tory Of this |, gislation IL very Intricate
and extends over good many years
Virginia a; the com mencement OF Tue
rebellion wed very large State deot'
During tn, war, West Virginia, when
included that portion Of the State that
remained loyal to the Government, was
sliced of and separate State Govern
ment was provided for 1t, but no ac-
count was taken At the time Vi INC
State debs that existed aud the wnole
Of it fell TO the old mother STATE. West
Virginia according to the law OF equity
shonld of course have assumed her share
Of the deo but because she did nos &c
49, ~aosov,- oh - -A,ea- tc-' ac'd<s,
well be imagined Virginia in her i'm
poyerished condition was sverse T.
shoulderiug the whole of the debt, an'
as q consequence has attempted U
avoid especially that part Of it whicl
naturally belonged to West Virginia
which was computed to be about one
third of the whole debt.
It was this that led to the formation
of Readjuster party Of Virginia witt
Malone at the head and which sen
that gentleman and Mr.. Ridleberger +
the United States Senate. The Bour
bon Democracy of the State pretende'
to be honest and passed laws and resc
buttons to pay every dollar Of the deb
and interest, but never paid neithe
principal nor interest. Mr.. Mahon
devised the system Of readjusting tn
finances of the State, and organized
party which carried the Legislature
That Legislature passed laws providin
for paying the principal and interes
Of two-.hirds OF the debt, which lie as
sumed was virginia's share, but lei
one-third, which was assumed to b
West Nirginia's share, without any pro
vision for its payment. AS West VII
ginis would not assume to pay hi
rightful one.third OF the dobt, Of cours
it could not be paid, and this was Gale
reputation.
The Supreme Court has just decide
that Virginia must pay her debts.
holds that all her legislation which HI
for Its object the attempt to evade u
receiving OF overdue State bond coupon
for State taxes, is unconstitutional an
void because it impairs the obligation
of q contract. Taxpayers who tendt
ed those coupons in payment for tax
and were refused need make no furth
tender Of money. A tax collector W
attempts forcible collection of gu
taxes by a levy upon the tax pave
properly cannot fall back upon
State to show justification for his lille
acts, but commits the offence at
own peril.
Suits brought against such tax
lectors must be held as suits aga'
nara decrslon upon Virginia, anu
there can be but little sympathy
her But that Yves. Virginia dealt
fairly with her in repudiating
equitable portion of the common d
contracted when the two Sta,es v
one, is no excuse for her to practice
same game towards her creditors.
did herself what she denounced "
Virginia for doing. She will now
compelled to tax herself to meet
due obligations in addition 70 the 81
she requires to meet the current
penses Of her State Government