Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-07-24
SATURDAY...........JULY "a, 1886
Is Compromise posslble2

There is danger that, as Mr.. TooMBs
said on another subject, the patience Of
the people Of Virginia will be exhausted
BY debt problems and debt discussions.
And yet there is no other question more
important to our people than that which
concerns the proper settlement OF our
State debt. Ifan additional ten, twelve,
or fifteen millions is to be added to the
amount Of that debt as ascertained by
the RIppIEBERGER bill, then woe to
the party by which that addition is
made. Its career will soon come to an
end, and its new settlement soon be re-
pudiated.
Nevertheless, several Of our State
contemporaries still cling to the hope
that some good result might be accom-
plished by q new conference with the
bondholders. The Legislature consid-
cred this proposition last winter, and
voted it down. Why? Because they
came 10 the conclusion that to ask a
conference was to surrender. Recall
the exultation Of the bondholders, the
insolence Of their organs, and the effect
upon the prices Of State bonds Of the
proposition 10 appoint q new Commits
sion.
What could 0 new commission do !?
For whom could its members speak ?
What could they say9 Why, they
would not dare to propose to pay even
five millions more Of the State debt,
nor one-hslf per cent. Of interest more,
than the RIDDLEBERGER bill proposes
to pay. Again and again have the peo-
pie of Virginia declared by their votes
that they have made their last offer.
What party, or what man, will presume
to say that they did not mean what
they said when they made those decls-
rations?
The United States Government pays
only 8 per cent. on debt ten times as
large as ours. Why should Virginia
DAY more? Will the commission pro-
pose to pay higher rate Of interest?
To ask the question is to answer it.
Then a. to the principal. Numbers
of persons hold that twenty millions is
more than Virginia honestly owes. A
large majority Of our voters have said
again and again at the ballot-box that
they would pay no more. Where is
there any room for compromise? Who
will propose to pay thirty millions -
twenty eight millions? - twenty five
millions ?--twenty-two millions?
And what is to become OF the men
who have funded seven, eight, or nine
millions under the RIDDLEBERGER
bill? Are we to desert these mon who
have acceded to our terms? Or is it
proposed to pay them smaller per-
centsge of their claims than we pay to
the men who have scented our PROPOSE
ton, sued us in Judge BONDS court,
harassed US in the United States Su-
preme Court, denounced US as repudia-
tors, subjected US to thousands of dollars
OF costs, and otherwise outlawed US
or themselves?
Every suggestion of another confer
ence with the bondholders is interpret
ed by them to be victory on their
part. Read what Mr.. RoYALL wrote
to his clients in England, and had pub
lished in the Financial Ne1s this month.
He said
"If, then, the people Of the State
will use coupons in payment of their
taxes, it is q mere question Of time when
the bondholders will compel the State
to make terms with them"
Oras we said the other day, II you,
the people of Virginia, will only use cou.
pons in payment of your taxes, sit is a
mere question Of time when the bond
holders will compel the State to make
terms with them."