Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1886-02-26
the Stnte to them. All this may b,

: pie teat every effort should be
made TO aquaint our creditors with
tho terms of settlement offered be
fore concluding they are unwilling
to accept it. But it is vain TO re-
capitulate the difficulties of the
situation unless it be with the pur-
pose Of suggesting a remedy. After
a most careful consideration Of the
situation, with a tnll sense Of the
official obligation, with acOnsciOus-
ness Of the difficulties which sur
round us, with knowledge that
the peril to the settlement which
we have decrced is serious. ! ear
nestly recommend to the General
Assembly of Virginia the appoint
ment Of a commission whose duties
shall be plainly defined, whose
powers shall be carefully prcscrib-
ed, guarded, aud limited no mis-.
conception DO INDUCED on the part
of any one. Such a commission
should only be empowered to eX-
plain the settlement of 1881 aud
1888 to the creditors and point ont
that which addresses itself 10 their
interests to the State. IT should
be clothed with no other power aud
have no other duties 10 perform but
TO urge them to accede TO the set
Element Virginia has dccrced, to
represent how futile had been their
efforts in the past to resist the de-
termination of our people, and that
the future held out to them only
the prospect of interminable litiga-
ton, injurious alike to them and TO
us ; that the achievement of mere
illusory triumphs in the courts are
fraught with no substantial adj
vantages to the litigants on either
side. 1t would be the duty of the
Commission to point out to them
the vast untried and uncxpcnded
power which resides in a united
and resolute people, and caution
them against the danger of arous.
ing public sentiment which might
be forgetful of all sense of justice,
and taking counsel only from pas
sion, destroy the interests which
we arc now striving to protect.
1t is believed that il those hold
ing the outstanding Indebtedness
Of the State could meet through
their committee face to face such a
commission here in Virginia or else.
where, and hear and see for them.
selves, be confronted by the stub.
born facts as they exist at present
and DO impressed with the unccr.
tainty which dwells in the future
and arises from the unsettled prob
lem which constantly eXaSpcratcs
and harnesses the public mind by
fresh decisions OF the courts, they
would be willing to fund such out
standing Indebtedness into the
bonds of this settlement. Such
action upon their part solves
the problem and terminates the
agitation. Virginia will act in
good faith, will pay her debt thus
ascertained and acquesced in by
both contracting parties, because
her revenues will prove abundant
to do so without increasing the
burdens upon her people.
Confidence and capital will come
to her had ip hand desirable imi-
grafton will follow "A restored credit,
and the Commonwealth will rapid
ly gain the place in the siSterhOod
of States which her climate, her
mineral wealth, and agricultural
resources entitle her to occupy
Then indeed will all things be eS.
tablishsd upon the best and sure>t
foundation, and we may earnestly
hope that "peace, happiness aud
pIety" will also be established
among us for all generations.
FITZHUGH LEE.
I herewith submit in connection
with the foregoing message the fol-
lowing facts and figures for the IN
formation of all concerned
The receipts of the last fiscal year
were 81, COG, 1922. OF this amount
$50, 1880 was paid in coupons,
showing a cash revenue of SGD,
93S.72. The face amount of the tax
receivable coupons is s., 12l III.
1t this amount is forced upon the
Treasury in any one year it will alb ,
sorb the entire revenue for that year 7
and leave S2j, 1OS.7S tax.receivable I
coupons still unpaid.
The deficit in the Treasury from
January /, 1872, to January /, 1850,
was 80, $50, 1881, or 81, 0,029.Sj /
per annum, and it is but fair to :
suppose that similar state Of
things will exist if these coupons ,
are forced upon the Treasury, for /
luIS Will utCtSNlldbt an hNihiAtDh"' .
tax of II cents on every hundred .
dollars OF value in the State, and /
the people have decided that this ,
is more taxation than they can 7
bear.
The best explanation of the dis
content that follows an increase Of .
taxes in Virginia will be found in /
an examination of the following .
table of the number OF citizens who /
are assessed with a State tax Of
twenty-five dollars or more up to
Ave hundred dollars, as prepared
by the Second Auditor:
All over S25 number. .9,695 !
All over $50 number ...-,..-..-....,3,76 100
All over 500 number. .l,23l
All over $500 number. 36
All over $500 number. .-...-.--. l19
All over $500 number. ll5
All over $500 number.......-.-... 20
There are about 300, 000individual
taxpayers in the State of whom the
LIST. i'm fhe Auditors Office show "A