Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-12-10
WHO TENDER COUPONS,

the taxpayers themselves. Inc posttioh vi
those
WHO TENDER COUPONS,
as far as | can Judge, arises from pro-
iessed opposition to the "Riddleberger set
Element" OF the debt question. They, to
make good their position, contend alt Il
dishonest and disgraceiul" for the State TO
want, through It's agents, to repudlate one
cent OF the debt represented by the bonds
of the State, no matter how those bonds
NAV have been obtained. IL makes no sort
OF difference with such people whether such
bonds were obtained by " bribery aud cor
r,Iption" or whether the State really owes
the money or not. They are so "over
honest" that, regardless OF the facts, they
would have every bond the States agents
NAV have issued paid, dollar for dollar.
This is the sort Of excuse that people who
have rendered coupons seem to oiler
as reason why they did not pay
their taxes in money. They hold (a'
they protest. such opposition to the
RiGdleberger settlement as causes them
to tender coupons in payment oil Their
taxes. In other words. they profess to be
so over. honest that it becomes them to do
all they can to prevent the state from " re-
rudiating one cent OF the debt it owes
Never was protested position so con.
pletely founded on sandy bottom, ana
nothing, with many fear, but love OF
money so completely prevents such peop'e
from seeing that they themselves are the
worst sort OF regulators, and that lhey
ave practically doing all they can TO help
MIR. Cooper, Mr.. Royal, and their English
bondholding friends in theie efforts To ln'
duce the voters Of Virginia to r'puilate
ont and out every bond held by such peo-
pie. To see Mr.. Cooper offering 10 sette a
coupon debt Of tue State, ana pressing
|. people to buy such debt at iifty cents IN
7 the dollar, is but paving the way
| to encourage the voters OF the ,Sa'e
to pay less than the RiddIeberger oil pro-
yides for paying. Mark you, the supreme
| Court Of the United States and other courts
| of the same power have Out uuconstltu-
tionally, as contend,) come to the help OF
the English bondbolders by, in our case at
| least' deciding that "a tender OF coupons
| paid taxes" No such help can ever be
| given regarding the bonds; nor do | think
| that the Supreme Court of the United
States, as even now constituted, would en-
| terrain or consider a suit brought against
the State "to compel II
To PAY ANY OF ITS BONDS"
II such Is the fact, then it is clear that
three or four millions OF coupons held by
the boudhoders are OF more value than
the same quantity OF the states bonds.
Under these circumstances does II
not look passing strange that the
English bondbolders are doing all they
can to get private persons so to act
as leads to "repudation" OF one half OF
the value OF such coupons, while they are
/ l. ia h. 80
| should talk about COMPROMISE the bonds
OF the State? Common sense would dictate
that IL the decisions OF the courts OF the
| United states are to stand, the coupons
held by the English bondhoders represent
much better debt than the bonds they
hold of Virginia.; and still we see agents
OF such bondholders spending their money
and working like beavers to get private in-
diyiduals TO act as agents OF the state "in
repudiating" just one half OF the face
value OF such coupons. Why English
bondholderS are willing to be shaved-aye,
tempting people TO shave them at the rate
Of so per cent. on debt having more value
than another one-is one OF the things,
as plain businessman, | cannot un-
dersiand. by the decisions OF tue
courts Of the United States. so long a a
portion OF money loving people will tender
coupons for their taxes, they (the c0upons)
have value above the bonds OF the state.
Let il also be borne In mind that no court
Of the United States was ever called upon
10 compel State TO pay its bonds. With
this fact staring us in the iee, does 1t not
look
CONTRARY TO BUSINESS PRINCIPLES
to see men willing to take In payment Of a
comparatively good debt fifty cents in the
dollar, and yet unwilling IN take less than
one hundred cents IN the dollar for debt
that no court in the country could ever
render a judgment on, much less see that
after Judgment was rendered that the
money was forthcoming? IL the English
boDdholders are so anxious to dis.
pose Of coupons due by the State OF Viz.
glnia for fifty cents in the dollar,
why cannot they agree TO take less
10 settlement OF q debt OF much less value ?
Cannot such agents see that by their action
they are tempting the people OF the State
10 finally repudiate "out and out" tue
bonds they holdf Who before ever heard
Of men wanting and begging talmosD debt.
ors TO settle comparatively good Claim for
fifty cents Of its face value aud then de.
mancing one hundred cents on the dollar
for q much less valuable claimS Are not
these gentlemen by their action helping
and doing all they can TO preparethe minds
Of voters 10 repudlate the less valuable
claimy To see some taxpayers almost
talking themselves hoarse 10 proclalming
"opposition 10 the Rlddleberger hill" AS
their reason for rendering coupons for
taxes deceiyes nobody but themselves.
They are borrified at the bare idea that
virginis. through Its agents. should repu-
diate one dollar Of It's bonds, while u the
coupon-holder will only give them the
chance 10 act ~
the AGENTS or TIE STATE,
khev sea M, art AZ imnrourietv IN THAR