Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-03-24
The State Debt.

This Is the year for our state elections in
Virginia, and Messrs. JONI A. HAMILTON
4 Co., Of Baltimore, have begun to pay at
tention to the matter. They quote from the
annual report Of the Council OF Foreign
Bondholders in London as follows:
"Bondholders who have not followed the
legislation which was carried out by the
General Assembly in 1887 are possibly not
aware that the latest conirivance OF the state
Legislature to destroy the validity OF the
coupons on its bonds is based on a false pre-
tence. On the plea that there are plumbers
offorged and spurious coupons IN existence
the State laws now direct that suits shall be
brought IN the State courts in the suits
against tax. payers who have rendered cOu-
pons IN payment OF taxes When the trial
takes place, unless the Taxpayer can produce
the bonds from which the rendered coupons
were cut, he is forbidden to produce any
evidence whatever TO prove his coupons gen.
uine; he has TO submit 10 n "verdict" that
his coupons are spurious, and Judgment is
entered against him with large additions in
the way OF costs, penalties, and COM
pound interest. Execution then goes
out, and II coupons are rendered
in payment Of IT, the statute orders the
officer not TO levy on and sell the taxpayers
property, because Ia that case such officer
would be liable 10 q suit fol trespaT In TIE
United States Court 1t therefore directs
him to make return on the execution that
coupons were rendered ia payment OF II,
whereupon u second suit is brought against
Che taxpayer, the same farce is re-enacted,
and another Judgment is obtained with
fresh costs and penalties. The avowed pur.
pose OF this law IL TO deprive the taxpayers
OF all means OF defence, and to accumulate
judgment on judgment against them until
the gross amount OF their liabilities be-
comes so great that they will be deferred
from using coupons. Comment upon such
proceedings is quite needless; they speak
for Themselves
Then the bondholders quote from the
Richmond Dispateh OF December Z, 1888,
Judge LEwIs's dissenting opinion in debt
ease, and add:
"The cases IN question have been taken by
the committee 20 the Supreme Court Of the
United States and the committee can enter
tain no reasonable doubt that the opinion
above quoted will be supported by the de-
cIsion OF that eminent tribunal
"The committee have just received Ad-
vices from their counsel In Virginia that on
his application the Supreme Court OF the
United States at Washington has advanced
tie hearlng OF all the DonubOioers appeal
cases on the docket to October next, instead
OF letting them lie over for the probsble pc
rlod OF three years before coming on for
heariag. Such 40 application has never as
yet been granted by the Court, except on
The motion OF one OF the States OF the Union.
This IL the most important, In as much as the
State Of Virginia strenuouSly opposed the
advancement Of These suits, which affect the
constitutional character OF all her recent
legislation"
All that growing is based upon an insecure
foundation. The present ChieiJustce Of
the United States Is aStates-Tighls man, aud
may desire TO have a "whack" at the con-
solidaiionst theories which the Supreme
Court has been putting forth for some years.
The successor Of Mr.. Justice MATTHEW'S may
also be very different man from thai dstin.
guished iurist. Mr.. Justice FIELD ought to
be SistesTights man il he Is not. Per.
haps, as be has more Democratic company
now than formerly, he may returnto bis fret
love. But even though the bOndholders de-
slroy past legislation they cannot prevent
future obstructive laws. Once more be ad.
vises them to accept the terms offered In tho
RIDDLEBERGER bin.