Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-12-18

schools ana o'her INSTITUTIONS VI ''N N''''
must suffer. ,Aa..,
ouestion T.. IL il morally and legally rlsht
for the taxpayers TO unite ana oppo'e ny
au
ORGANIZED EFFORT
the attempt OF the Dondholders 10 force
them 10 do what they have with one accord
agreed l. not right ard JUST
The ZANE Law that will protect the bond
holders union should and will to tue same
extent protect tax.p,yers' union. N,
therefore. the sole object OF the union l.
.rlf.protqction to the individual m mbcr',
# l. legally right aud this Is all That /, pro-
posed.
Its a clearly morally right. think !
have shown that Il Is only by the hlsty and
IlI-adyised legislation adopted on the debt
question that the bondhoder and taX-plyer
Here brought into personal and individual
relations by the coupon feature. This re-
atiOn did not exit when the debt was orl-
FINALLY created. There j. absolutely no con
.ideralion for this coupon feature, and II Is
therefore morally wrong for The bondhold'r
10 enforce IL TO the proiudi 81 the tlN'
payprs, and a. consequence morally rigll
10 resi,t II on the part OF the taxpayer.
H. then. such a resistance n | propose l.
legally and morally right, i, 1t practicable:
All that i necessary 10 -. the scheme on
foot /, the organization and corporation
Of a central union. OF which an, taxpayer
NAV become a membc. by pas lng from ID
10 CC4 per cent. OF his taxes aud annual
dues to the amount Of TO . per cent. OF his
taxes for Incidental expenses.
Unless the interest in thi, subject has
abatcd far below the indications, nine
tenths Of the citizens would Join >uch an
organizaion-not for the present benefit,
Tut because of the certain and inevitable
result-the final settlement Of thi, yeXcd
question.
Coupon, could then be purchased
by the union the for benefit OF the
members oflhe union IN proportion
TO. their faxes due the STATE, and
The snail and large taxpayer would
receive prOpOriiOUltc benefit. Tue amount
If coupons purchased and used could be
Kcpt within limit that would leave the
suipiu. for other purpose what thr citl-
zcnS ol the safe IN endorsing the L ddic-
berger bill haye indicated 20 be their wish.
To illustrate: suppose the OutStlndng
mIturcd coupons H. ImOun; 10 Si,O01Ol0
and the -tIte revenue S2,Gj),00O. Th'
hOndholdcr~ could have their choice 81 SELL
PAYERS u >ay S333,Ol) 10 S}j0.0lO. which
would leave surp o.. Il - $4,000 for
other purposes, or funding under the bill.
From four 10 five year, would cXt.aSui>h
all matuied coupons. and the aggregit"
saving TO The tX.plycr, would be = Co.,
Uo0 in four years, or one years taxation on
the property 81 the whole state.
Again: This would put II inthe power 81
the STATE 10 do justice To the holders ri
bonds without CoupOu>-th pceler- and
llddrhcrgcrs.
But suppose the bondholdcr- rciu-cto ell
coupons at The price fixed by the union. The
taX.p3J p1l IN the residue Of BIZ take, In
u.oncy, - be would be- compelled to DO in
any event. and tie whole revenue II the
state would reach the Treasury 10 be APP
piled rs justice and rigl [ demand and no;
90, the bondholGcr mIy see III - dictate.
| am aware that this plan i open 10 the
Oh jCcti0n that foreign taN-D1ycr> AMI rail
roads and other corporation, would stand
out and refuse 10 enter th, union. | 90
not clam th1t The scheme i, perfect and
mCts an objections. but the payment of
take, in coupon, by these partio, q, 4 mt
| ter Of dollars and cents. They will bay is
| chcaply q, they can, and take adylu'a.r "
| me depression 10 buy loN, thus iulifec,ly
contributing 10 the end sought.
In conclusion. | would >Iy That while
| tli- plan seems right. just, and practicable
! to me-, it may seem iir otherwise to nv fcl-
! loV-citiZon- Of the state, without whose
| hearty cooperation il amounts 10 uDthin1.
! can only make the suggestion; u /, for
| those equally interested with myself 10 con
>.dcr, improve upon, remodel, OF r.i'c tb,
The plan altogether.
I be- mere fact that th' proposition j,
purely non political and propose, 10 t'c)u-
| pi,b the end desired by ell WItnou cI'or-
| inc the arena OF poli,ic>-to -crk solution
upon purely business principle and "a, q
matter oi business, constitute u, creates!
| weakness.
The fact that !. j. new suggestion, ana
not ~ caibCdr1, exposes Il to thr iitc Of
being poohpoohrd ont Of mind hy those
| who believe there Is no salvation out 81 the
| pale Of some political pIriy.
should TIL, hc H., ii,c the i3, rrmlln,
thai until the political J0nihN are thrown
| overheard and the people deal with the deb,
a~ 4 bushes matter on hu,in'-, principles.
with bu-in' -~ end, IN yir". 10 viii MOI
cease 10 plague u~ AND our cuildrcn 10 the
third andiourh gcE,rdion.
There is one piece of legislation needed
| 10 makc The plan elective: that l. PROVE
sion that the Taxpayers, mutual union
mght pay into the Treasury OF the Safe.
70 tie credit Of the taxes OF the >cyori'
mcmbcIs. not eVcrcdiLe ~l,0o0.OOD in cou-
| pcns in any one year when said coupon,
nave been pronounced genuine by ! bpird
constituted for the purpp-c, bat providing
| that "a sum shall be plid IN ~ money equal
| TO the sum paid in coupons.
Thi, provision could boz enacted bv
| called session, winch would. however, be
Wholly unnecessary. The Leu,hlue
| elected I'm lS-1 would meet in ample timc
| 20 pass the lass ,ugg, -tcd.
1bi, communication j. too long already.
| but haSc been unable 10 coudcn,t into
| smaller space.
Yours, |. II. LABEU.
| No-iGu. Iu.. December ~. 1856.