Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-02-23
Mr. Massey's Bill 49, He Explains It.
SENATE CHAMBER. !

hiN hhONb' 49, AVo' -~i ApOVs J
To the Editor of the Dispatch
If it were not too dry a subject for
amusement should be amused by the
various comments have seen and heard
upon the bill | prepared " to facilitate
the settlement of the public debt Of the
State under the act approved February
IA, 1882" Some seem to have con-
strued it as in some way a concession
to the bondholders and a purpose to
offer or accept new and different set
Element as a compromise with them. |
cannot understand how a man of fair
intelligence can receive such an I'M
preston from perusal of the bill ; but
if there be anything in it which can be
so distorted as to create such an i'm
preston, wish it eliminated at once.
Apply the scalpel without mercy to any,
thing which creates or encourages such
an idea.
My object in preparing the bill and
having it offered is a totally different
one. Before stating it any more def
nitely than it is stated in the bill | will
say in all frankness
never opprored the Riddleberger
BILL" but accepted it as compromise.
| then believed, and stu believe, that
the "war and reconstruction interest ="
ought never to have been allowed. If
that had been eliminated it would have
reduced the debt to about fifteen mil
lions of dollars ($l5, 900, 000), which |
believe to be the utmost sum Virginia
ought to have assumed, and the utmost
sum she would have assumed if the
party then IN power had not violated
its solemn and oft-repeated pledges.
Yet, when that bill was passed, pre-
ferred acquiescence in it to further agita-
tion of the subject. IMPOSITION upon this
subject has been known of all men. "
Does any man suppose that | have
changed my opinion? or that doubt
the ability of Virginia to maintain her
position in the matter: So far from it,
| have no doubt Of the fact that " Vir-
ginia is still master of the SitUatiOR."
Entertaining no doubt upon this point,
| was willing to meet the bondholders,
to "explain to them the facts which
make the settlement under the act OF
February II, 1882, just and equitable,
and its acceptance by them a necessity
for the protection Of their interest"
and to let them clearly understand that
while Virginia would fulfil her part Of
that contract in good faith she would
never pay dollar more than she had
thereby agreed to pay.
Upon the acceptance Of the settle
ment under the Riddleberger bill by
the bondholderS it is but right and
proper that Virginia should, through
the commission proposed to be created,
mediate between them and West Nira
ginia so as to secure to them such sum
as West Virginia may agree to pay.
Yet in all these things, and in each one
Of them, Virginia was to be held harm
less-no step to be taken until Suf-
iicient sum, or security for it, be placed
in her hands to reimburse her for all
costs and expenses incurred in carrying
out the provisions OF the bill. 1t is
possible, but not probable, that the
commission may fail of its objects, but
what possible harm can come to Vir-
ginia by making the effort, or how she
would thereby compromise her dignity,
am unable to see.
This is purely matter of business,
not Of sentiment. and should be treated
in a business way.
JOHN f. MASSEY.