The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1885-05-21

/ 'tlO USllcftu W plUIuloe lu6 ulOSG IdNOI1Ole
solution OF the question for the creditor
| himself, and the settlement is believed to
| be honorable and just.
The enforcement of this settlement has
been and will continue to be the earnest
endeayor of the Republican party of the
State. If the creditor is looking to the
Democratic party here for better terms,
| he will find it.difficult to discover anything
inthe record of that party's treatment Of
the question to justify him in INDUCING
sucha hope.
TILE BOURBON RESTORATION.
The Democratic party of Virginia had
opposed the REIMBURSEMENT measure obsti-
nately in and out of the Legislature, not
because it was possible to refute the cor
rectness of the items, or the methods Of
the Accountants they never undertook
but merely as if to uphold that kind OF
l,debt paying sentiment which was ever
ready to engage in any scheme or make
any promise that eXtOlled the magnitude
OF the debt, and equally ready at all times
to avoid the legislation necessary to pay
ment.
The whole question was thought now to
be composed. The Supreme Court of the
United States had affirmed the principles
of the auxiliary measures on which the
success OF the Riddleberger refunding act
largely depended-one in the case of An
toni IS Greenhow. and the other in the
case of Tennessee Us. Snead. The refund
ing had quickly begun and was progress
ing at u rate promising full and final frui-
ton.
Meanwhile the Democratic party, which
had been repeatedly condemned at the
polls. and expelled from place and power,
met in State Convention al Lynchburg in
July, 1888. 1t then and there formally
proclaimed, not only its approval of our
Republican debt settlement, and of all the
leading measures to which we had given
effect, but promised to uphold and pro-
mote that settlement. That which they
had but little while before characterized
as dishonest and dishOnorable in that re-
spect, they now accepted and pledged
themselves to foster, if only the people
would restore them to Office and to power.
There was no sacrifice of sentiment, and
no surrender of Inexperienced debt pay
ing conVictiOn-no compromise OF their
pretended views of the rights of the cred
itors, which they were not ready to make,
if they could deceive the people and re-
gain control of their affairs.
By means and methods heretofore eX-
posed, to the everlasting shame of its lead
ers, and the outrage of a great State and
its honest and law-abiding people, that
party effected its purpose in the election
Of 1855. 1t secured majority of both
branches of the General Assembly, and
not content with the legislative power it
quickly neutralized the Executive De
partment, and audaciously threatened the
Judiciary by arbitrarily Selling the seats
OF seventeen members of the General AS
sembly and giving them to their can
didateS who had just been defeated by the
people.
Thus entrenched by the boldest usur-
pations which disgrace the record of any
State, and which form the blacklist page III
Virginias noble history, they commenced
their work. Without reference at this
time to the vicious acts with which they
crowded our statute-b books, TO the great
wrong and at the price OF the liberties of
the people, | will review the more consplc-
uous of their intermeddling acts in respect
to the public debt, and show how far their
public pledges had been respected. and their
much Wanted debt-paying sentiment OBJ
served.
DEMOCRATIC ENDORSEMENT OF TIE RID
DLEBBRGER DEBT.
At this time the funding under the Rid
dleberger law was going on we'll The
taX-receivable coupon no
revenues.
There was 81, 537 ,204.38 in the Treasury
on the lst of October, 1888. The schools
and teachers were receiving their consti-
tutional share of the revenue. Our insti-
buttons of higher learning were receiving
their dues. and our aSylums were well or
gained, supported and conducted.
On the lsG OF October, 1884, the end of
the first years administration under the
Bourbon restoration, there remained only
$942, $3.50 in the Treasury when mean
while full one years revenue, say $2,700,
900. had been collectlble.
What was the first act of the Demo-
cratic party in respect to the debt ? 1t was
to formally declare, by joint resolution,
approved the 2lst of December, 1888
list. That the people have accepted the
act Of Feb. 14th, 1882, known as the Rid
nleberger bill, as the ultimate settlement
of the debt of this State that it is their
unalterable purpose that that settlement
Shall be final, and that any expectation that
any settlement Of the debt of this State
upon any other basis will ever be toler-
ated by the people of Virginia is absolute
ly illusory and hopeless.
I'd, That the interests of the public
creditors, as well as the safetyand welfare
of the State, require that this settlement
as by the State, and therefore the General
Assembly OF Virginia, in behalf Of all the
people Of the State, hereby advise and call
upon the holders OF all the bonds and
claims against the Commonwealth to come
forward with prOmptneSS and fund the
same under the provisions Of the act of
Feb. l4th, 1882. y
Here we have a gushing approval by the
Democratic party of settlement which
but a short time before was repugnant to
their pretended sense of honor and their
lofty standard of honesty.
1t will be seen to have been hollow and
perfunctory compliance with the insincere
promise on which they deceived the peO-
pie and stole into power. They then
thought to perpetuate the control they
had gained and to reach to other and high
er public trusts by out-Heroding Herod
in any raid that had, as they charged, been
made upon the rights and interests of the
creditors.
MOCRATIC DEBT-PAYING DISGUISE
THROWN OFF AND REPUTATION AYOW-
ED.
What was their next step? 1t was by
the acts approved February Z 1884, and
the 18th of March, 1885. to require the
prepayment of all license taxes i'll United
States currency, so that, i'll violation of
the Judgment OIL UOIH OUS HlS0eSU state
and Federal courts, the taX-receivable cOu-
pom might not any longer be used accord
ing to the express tenor thereof, in pay
ment of such taxes, dues and demands
1t was to destroy vested right by ex-
Guiding every remedy, and in this to un-
hinge and upset the fundamental princi-
pie upon which the Riddleberger settle
ment rested for success. This, when the
refunding was proceeding well, when
for the preceding twenty-four months
only $lS5,000 of the tax-receivable cou-
pons had been employed in the payment
of taxes, dues and demands" and when
there was in the Treasury fully 81, 537,-
2O4. SS, as of October 1st, 1888.
Further, in pursuit of this policy, by
the actapproved the 18th February, 1884,
it is provided that 10 corporation, either
foreign OF domestic, shall be chartered,
or if already chartered, shall have any
amendment, renewal or extension. except
on condition that it shall pay the taxes in
money; by the act approved the 9TH March
the acceptance Of the taX-receivable cou-
pom is forbidden for the hire of eonvicts
by the act approved the 10th of March,
1884, the same is forbidden in payment of
the purchase of certain lands ; by the act
approved the 18th of March. 1884, an addi-
tioual license tay of Go50.iS innoSed on Of