National Republican. (Washington City (D.C.)) 1872-1888, 1886-01-05
THE OLD DOMINION DEBT.
An Intoresting Statement of the Pres
ent Aspect of the Question,

politics. Misrepresentation either through
Ignorance or design, has been so great that
it would be a marvel IL one man in hun
drGd beyond our borders could arrive at
just CONCLUSION In the premises. Republi-
cans of other states have, In general way,
derived their ideas of the liberal movement
in Nirginiafrom Democratic sources. Strange
as this may appear, 1t is nevertheless true.
Democratic papers were filled with TRADE
not only against the movement but against
its leaders. While the debt settlement was
prominent among the objects aimed at by
the new party, there were others Of equal
II not more vital import. OF these we
will not now speak. The presentation Of
the views Of the party on the debt will
form the leading idea of this paper. Nor
will this be done with q view OF con-
vincing the outside world that read
iustment Of the debt, as advocated by Re-
publicans and liberals I'm Virginia, was right.
While from one standpoint thereis no doubt
that they were right, yet, apart from few
simple statements, we shall present no ar
gument. Our object is to stFIw that our
Democratic friends who, In the incipiency
Of rcadiustment, held up their hands In
holy horror at the idea, subsequently aban-
doned their assumed conscientious scruples
and have adopted every position of their
adversaries on that point. That msappre.
hension may not arise, we will state briefly
the position Of the Readiuster party respect
ing the debt. At the close Of the late war
after the period Of cconstruction-the debt
Of Virginia amounted to many millions.
During the unhappy strife West Virginia
had been carved from Virginia aud estab-
lished as n separate state West Virginia
represented about one-thrd Of Virginia IN
wealth and population. Readiusters
claimed that upon West Virginia should
fall One-thrd of the burden OF the debt.
Now, We ask all men-Republicans, Demo-
Gratis, or Of any other political complexion
II the Readiuster idea on that subject out
RACES the sentiments of honesty and fair
dealingY We think not. The Readiusters
further claimed that interest during the
he abated The destruction Of values
during four years Of war had been
enormous. During the period Of
reconstruction the pulse of finance
in the old state had almost ceased to beat.
Her constitution, adopted In 1869, pledged
Virginia to the establishment of system
Of common schools. Her asylums were
languishing. Her institutions OF learning
were not properly supported. To pay the
interest on the debt, as estimated by oppo-
nents Of readjustment, to support the pub
lie schools, asylums, &c., was an impossi-
bility. Under Democratic 1nanciering the
state was adding to her debt at the rate of
$l,000,000 year. The question was gravely
presented by the new party as follows:
"Under all the circumstances, is 1t not just,
first that Virginia should be relieved to the
extent of one-third by reason Of the scpa-
ration Of West Virginia? And further, con-
sidering the terrific destruction of values,
ought she not to be relieved of war and re-
construction interestg' As some very forci-
bly, presented IL, the question was us to the
payment Of the bondholder, dollar for dol
lar, on claims that he had purchased, In
many instances for one-tenth Of their value,
or the support of the public schools, the
charitable and other institutions of the
state.
On this platform the Readjusters, aided
by the Republicans, went into the cam
paign. On this basis the debt was esti-
mated at S20,000,000. The figures of our
Democratic friends fixed the debt at about
s29,000,000 principal and 81 ,0O0, 600 interest.
Democrats declared that to advocate the
principles of readiustment was to stain the
honor Of the old state-to place a blot upon
her pure escutcheon than which none more
foul could be conceived. Their leaders de-
nOunced "readjustmcnt as highway robbery
and Readjusters as highway robbers" The
battle was hot. The struggle was fierce.
Once enlisted under the banners of read
iustment, man became the target for all
the poisonous arrows that could be hurled
from the ranks OF Democracy, Democratic
newspapers, Democratic speakers. Men OF
position-political, social, and otherwise
combined every influence to bring into
contempt the principles and leaders OF the
Readjuster cause. But the cause trlumphed.
Its first victory was In the election OF a ma
jority of the members OF the general assem-
bly, in 1870. In 1881 IL again trlumphed In
the election OF a governor and the general
assembly. These victories filled the hearts
OF Democrats with CONSERVATION. Sorrow
and anguish marked their political expert
ence. Men armed with the courage OF their
convictions would have supposed they
would adopt the sentiment OF the poet
nT,r,, or,srod % oor,h sho,, r,so o,,i,
The % eternal ycars of God Nre hers .ss''''
While error, wounded, writhes in pain
And dies amid her worshipers"
Such was not the case. Seeing that the
cause of readiustment was popular, thew
trimmed their sails to catch It's breezes. In
their platform, adopted at Lynchburg In
1888, they solemnly declared In favor of the
debt settlement upon the basis of the Rid
dIeherger biIl-a Readiuster measure Could
Inconsistency 20 to greater lengths That
which before they had declared to be n
"stench In the nostrls of the people" they
suddenly ascertained TO opossess the sweetest
odors possible 10 be waited from WAraby
the blessed.n One wear the principles OF
readiustment. in Democratic Judgment
were as black as the demon Of darkness,
the next. they were ms unsullied as an arch
angels wing, After ali their claims of dc.
sire TO preserve the honor of the state, IL Is
sad to contemplate that our Democratic
| friends have thoroughly indorsed the In
| fanny which they had denounced The only
excuse which they have youchsafed 10
render has been that the popular vote was
against them. For the same reason Repub
| licans, after the defeat of their can.
| didatcs In their carly STRUGGLES
shonld have Welded adherence to the prin.
ciples Of the Democratic party. For the
same reason the earlier adheTents OF Tho
Christian religion should have renowned
| - .'.-,'ts.-5 49, Al - ,s-N ~