Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-04-15
The Romnholners,Iast Gard.

| Nual i say"
The BOnaholdeTS' asst Card.
| To The Editor Of the Dispaich:
Your paper Of April lIth snys mat Mr.. James
?. cooper, the Spectator in tax-roceiyabls col
pOns. has returned, aud 1t - stated taat Dir.
! Cooper brought with him several millions Of
State bonds with coupons attached. which ars
! on deposit with the Baltimore Trust COMPANY"
! ) GU add that MIR. Cooper IS making prepare
lions 20 dispose OF these % the people who have
70 pay liquor and Othor licenses FILLING duo on
/ the LAT OF May.
| OF the advent Of Mr. Coopsr on this enterprise
and sbout this Time the public had been advised
| by nr. W. L. Royal.
That this ia tho last card OF the bondbolders
appears from tkeE report OF March, lsss, now
| before mo. In which tae Virginia Committee Of
/ the Corporation Of Foreign BondhOders con-
cludc, page lss, there 8Ppors 60 be NO 2l'srna-
two between tho acceptance Of the fiodiesor-
uanco Of the contest on tho present lines by
/ aiding taxpayers In mo use OF coupons, WIN
/ the expectation that ths latter course Will uld-
mstely force the state into fair and re asOneDIo
/ settlement"
Aud tho saue report dlsrloses, at page 10, how
/ they exGoct 10 play IL: with view 70 give
| practical effect % the decisions Of the supreme
| Court central agency has been established N
/ Richmond, with sub-agcnCles throughout iRo
STATE Tor the purpose OF ia 'iliatnS and siiniu-
/ lating the OF coupons ia payment ot taxes.
/ Bv this means the STATE has been already COM
pellod. Notwithstanding her Obstructive A'liS
and unconstitutional legislation, 10 receive cOu-
/ YOns at their par value for NOS !nconsidera'le
amount" The mot inconsleIable amount
I forced In under their tarucs LOT ue
/ Fix veals ending september 20, 1851, ia
s40l orr out Of total Cf not less than
100000. including what was due az ne
/ time of the passage Of tho hdileDereer OIL,
/ and what has accrued since. or % httc over ~
per cent! And they call this " NOS iucolslder-
/ ablor-a do .l3ratlon which they conitAllct IN
/ the next sentence. a. follows; And II Is tohu-
! = q. 4
/ systenni,allv organized, as Is contemplated,
/ will largely develop the uso OF coupon, by tax
= payers. and thereby insure the success OF IDS
/ long and costly struggle
! S,ate with sCIse fifteen towns and cities, not IN
| Guiding numerous villages in thom, moro -y7-
/ iematic organization probably means some
thing like one hundred district agencle5--ono
/ for each couaty.
/ Az the Acts Of 1856 page 40. chapter 40, de-
/ mRnd the production OF tie bond IN any tfldl
I involving tke PCnuiueness IL coupon. mere
/ must De aboat ibis number OF agents lhrnsieo
/ with the Douis from which the coupons are al
/ legged 20 have been cut Bat IL may DC cues
/ toned whether ths hCndR0ldcre VIII Dee HiiunS
/ 10 have such perishAble securities handled by 80
/ many different men, none OF whom can De
knowa 70 themselves, very Few 70 tholr cehIAl
/ AGENT sni meBy OF whom must ne needy. or
| tlov would not undertake such an Unpopular
/ work: therefore. men who can hardly give se-
/ culffy for safe custody Of tho bonds. which az
/ n be tak9n from thu depository IN Baltimore
| and returned es oiien as X may ne neco'-
/ say - provo the coupons. Nie"ed IA me
/ lqht afforded by these facts, this an
/ nOuncemont OF theirs NAV ba reEarded
80 a bluff. For evoH II hey could succeed %
/ Inc extent OF paying hquor ana other licenses
! in coupons then. as the amount OF tbosei Is s'ii-
/ mated by the Auditor f5ee Governor Lees lats
/ To.ssgre page q a. f633,33i, the consol bohi5
/ urces-sry 10 nave on baud 70 ineot tho case must
lie very consi Ierable, AT tho lowest estimate not
I loss than three and half Millions 4nls e7il-
/ mate IL based on the iac. that IS me coupons
/ cue July. 1882. and prior 10, ana lhtIui ING
/ January. 1s5J, have fuudaDl9 Vaiue, htco'ulhs
10 their date AZ par or 50 per cent, II IS oiy Inc
/ ouuswed coupons, 1s they arc called these sub
| se0usnt 10 Japusry J, ls@j, Which Inc n4'tnaIn
amendment forbds . be iundedl, NAV VIII nc
| offered for taxes OF these there are SIX on ehtn
| bond up ts January ], 1893, and 10 get St35OoJ
! Of them will taEo about three and ban mli-ious
] OF dollars in bonds or aoeut ono lOufth OF me
/ Dboleissue The same calculation extended 20
ali taxes would scatter all theH bonds al over
| tue state
/ PM 90 the WlckhAn amendment requires that
! " an bonds offered for funding, belonging 70 any
! class shall have attached thsrsiO al coupons Or
other interest maturing after the lst day OF IAN
/ uary 1885. or coupons OF llkS cnalaeiet' ia -
/ and amount. which shall % suTrehesfen WIN
such bonds - and further forioils al Interest," ac-
/ cruirr between the lst day Of January, 1881, ana
the date Oh exchange and surrender OF sun
/ bonds then the cutting the coupons rom those
bonds would make them unIuauA'le. LIS
/ the bondholders know perfectly well; Tor thcy
have bonds here in Richmond nov Tor whose
/ coupOns the owners have instructed insm 70 AK
/ % cents, a sum they think may pay taeIn ioI IA
turing their bond: and 30 far here has not De'h
/ r Md on them Nor will there be; FOR they are
! held al IS cents above The market, VITA no Pros
ncct OF a rise, as the following conparHuvo
IL O'0' '"'" April, April,
ISaf. lSsi.
,,,,,i,,;. co,aois-hfS ....... 81 So
/ Tax-receiyeble uufundaDlo cOnsol
! c0upOns--Did.. ............... ..... 10 ~
] nd pa u ~ 4
/ cousols are only per cent above their tuudE-
/ he value; aud II the past years experience
! may he taEen as an indication, the TWO classes
/ OUGHT 70 come together quito soon. Wnen thry
/ iii he fnnded in first or second hands. The e.
1 tort n ow is % avert This catastrophe; and the
/ shane IL assumes IS an appeal 70 the culloly OF
/ the Iiquor-doalers and others VINO pay licenses
{ on the Isl DAY Of n ay next III mat Iali9, tAei
! NV their own admission, they have 10 alieIna-
/ iiveD; and the acceptance Of the hiddieoeIger
settlement becomes necessity
/ In the past that appeal has not anouhte1 10
/ ANYTHING: aud / gee no reason why II shOuIl IN
me tntuTe. Tho owners Of the debt are not popu-
lar in Virginia. They commenced the adJ
/ ,oeut Of their claims by fraudulent soluenrht
ontaiued by tho purchase OF votes, ana iley uaFo
/ ,cVed mo people OF the state with hugaton
/ from the time the funding act 0i Ic'4 was re-
uealed March :, 1870. Their commit s-on ~ :. 81
Inward Thornton and hr. BraiihW0ltc. pIetc-aii,I
/ 10 como for an equitable settlement, py ihr~
/ ",rratuirous lectures aud general toho OF ihrv-
I Ieuc.. which Mr. Massey was nua'ly coHp3ileu
/ 10 cbrck aad by tho discredliaple !'s.tylHK
/ ,,i,b which they conducted aud closed lneiFnek.-
! ,ia,3on added To the Odium already incurred
! and fhs irritation became extreme Wheh more
Ia,ely. against the Jaw as laid down 10y lnen oN u
arblter, the supreme Cour' OF the lnilrl ia -,
. tnov obfaiped from Judge VINO Is known 10 uat7
I tna mamie OF Virginia STATE an ordef 10y "pich
three ofircrs o. the State-one OF mem ~ Atlot-
3 rov-general-wero sent q jn'l Tor doing thelr
J dniv Ia executing Law OF me slA'o WIN ui9
,,ided opIoeuy they renew The war, and begin by
! t.,itinc ne Uauor-dealers by appealing 10 thelr
cuoidity a. a class 20 lsad No way "a VIZ la7s
efIort 70 i'm pose their hated ans lnstpporisDie %
/ mon the psOple, and so 70 complete tne run
3 nv ,,Sed the Yankees 10 bring upon rs Dy tho
/ Scl1 they rendered them In the war.
{ - 4 40 not suppose the nqu0r-cHaiefe. as
/ cia-4 pisan 10 do Eny such thing. Itey iuuHuI
I tnr their country as we'll a. any otaer clu-s
I ~ bavs -,iu a. much patriotism as any oilers.
I oud eupposs as M lch intelilgen'e. ma. teA5
. them mat theFe Is ProgDluph clc4uout M vftI
lie Sin.s actively and inoaorasly cppo-ed 70
Z thoo yigllantiy Watching every e,ep they TAKE,
s-d ,,renared te lake advantage Of every trip
/ fbev maze. especially in anything theI may run
/ counter % what Is generally cehsseeisu ING
/ Tight. and the welfare OF the STATE, me n4uoi-
/ dealers know the strength ef this movement
/ Snd now n IS growing. and ! hardly i4-lrk
1 thev viii agree 10 a1d 70 rs grown
I hy Inc most unpopular hing tney can as, Ahl
30 drive into the rAnSs OF we WeAlDi'iSh az,
+ birn-licepse party many geod cihzen' who VIII
vota moi 90 rallch 10 reform what Some may cou-
( cider an evil as 70 punish me pefnsg o. GAS.
/ CraNed that the movement 30 as i9natical as
I thoy argue. what m this country eeyours as
! grsedlIy and assimistes Is rapidly everything
that contributes 70 rs g,o"ia: 81, 10 aV. ,,'NY
I these good people Jamaican. 40 NOT thlhk tDey
/ az mo riest pian 10 make men COED hut Ter
! thst very reassn DO not want hem 70 nave 20
l
Il have lust heard that tho number OF bonds
c.ntribuisd 10 verify caaponH IL snly s2,0O0,Ota
/ THOSE on he calculation in the text regrssen nj
taxes 70 the extent Of oay s5ce ysry few more
man hnlf the amount roce1ssry 70 BE- used IN tie
,arrsnt M uanor- licenses aud other licenfs
,axes. yhich are estisatsa at <sta0o0 and issso0)
,esDe,f,yely n lbofe 10 only e. 0oO 900 on hand IL
tends 70 strengthen tho suspicion that The ooni-
holders aro rather chary OF rl~khg iher bohas
| Ia the hands Of strange agen'A