Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-02-02
SATURDAY. FEBRUARY z. 1852
Small Bnbe.

In speaking Of the report that 0eneral
M.uost,s reputation as a regulator hau
stood Ia his wsy IN his effort 20 get into MI
U.RRrsoS's Cabinet, the Alexandra Gazette
SAWS that II that report be true
asVirgina will stand a poor chance TOT
Cabinet positions for some tue 10 come, no
matter " hat party may have control OF the
national Government that Is, ~ "nn tW'
Richmond Dispatch saws be correct, whlc3
Is that no asplrant for Office within the lmitS
OF the State will dare 10 syow hltpseh ia
favor OF offering her creditors more SAUSAGE
tory terms for The settlement OF tbe otale
debt than those provided in the Tepudiating
KIddIeberger BILL"
Well. we have received not one single let
Ter from any sspIrant 10 Office claiming 10 be
willing TO pay any more OF the State DEBT
than the Virginia committee or commission
ers offered TO the British AGENTS W years
ago. There will seou be a Republican cam
dldate for Governor in the field, aud q Dem
ucratic candidate for the same Office Will be
racing with him; but neither OF them VIII
stand upon the Gazette's platform. we no.
tlced that the n%on-fundsble coupons were
quoted Yesterday at 10 cents on the dollar
The coupons msturing annually on a bond
for one thousand dollars have q face value OF
sky dollars. Whist an encouraging fact 10
the simpIe-minded men who have been led
10 believe that the voters OF Virginia are
now ready 10 agree to the bondholders
terms. money talks" and money tells us
that a hundred dollars In face value OF cou-
pons are really worth not one sixth OF that
AMOUNT
what a distant bride that is which our
Alexandria contemporary holds out to our
leading men-namely, that II they will pay
the state debt, they ~Il afterwards be ell
gible TO Cabinet positonsl HARRISON Is
elected for four years. No Virginisn. there
fore. can have a Cabi let Office before 1893
But even 10 1893 a Democratic Virrinian
will not be justified In hoping for a seat IN
the Cabinet OF a Republican President; ana
we know not where is that man who can
tell us whether a Republican or u Democrat
Is TO be elected President IN 1892.
we came too often warn the bondholder'
that Virginia is Oh the straightroad 10 down
RIGHT reputation. Not only Ia the patience
Of Der people about exhausted. but more
than hall of The period duriog which the
bonds OF the State are 10 run has passed
The bonds were issued in 1911. They vii
fall due IN 1905. Eighteen OF the thirty
four years are already gone. Sixteen more
wears OF litigation will place the State where
the can reDudia,e the debt out and out
Think how short the time seems that ha'
run away in these eighteen years, and re
collect that the other sixteen wears will pas
away so rapidly that the bonds will mature
and be ready for reputation before we cal
realize the fact.
There is no dispute as TO the power OF
State 10 repudlate her bonds, Virginia. un'
fortunately. unwlsely, aud thoughileSsly at-
tached 10 her bonds coupons which sh'
promised to receive for taxes. She has SUI
fered much annoyance from the eflort'
made by her creditors TO force her so to re
ceiye them. She may have TO endure a great
deal more Of the same sort OF ANNOYANCE fol
the next sixteen years. But there IL nobody
IN this country, at least, who, II be know
the nature OF our State and Federal govern
menis, and their respective powers. doe
not know that there Is no possible method Of
compelling a State 20 piy her debts. An(
after 1905 no more coupons will mature.