Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-05-14
The State Debt.

Who 10 It that would not rejoice to Wit
ness the settlement OF the State debt upon
the basis OF the RIDDLgBERoER acti Year
after year we have ignored that debt. and
gone on IN the old path and left 1t to to'
morrow 10 take care OF the things OF 10"
morrow. The funding bill which was the
cause OF all our SHANGHAI troubles was passed
in 1s7l-elgbteen yesrs ago. Think OF
that. The bonds issued under that funding
bill bear @ per cent, interest. SO that the
interest would now be good deal
more than the principal II none OF
the interest had been paid. But II
ynginia's share Of the state debt
was in 1871, as was said TO DO the case,
thirty millions OF dollars, and interest has
been paid to the amount OF fifteen millions,
the State NOW owes, principal and interest,"
more than forty-6ve millions OF dolIsrs-
thSt Is, VIC repeat, upon the basis oil the act
OF 1871. The RIDDLEBERGEB bill has effected
some change IN the nature and amount oil the
State debt; but notwithstanding all changes
Of all sorts that have been made in the nature
of our obligations, we take 1t that the sum
total OF them cannot be much less than what
we have just estimated 1t al. Recoiect 100,
that West Virginia's third, winch Is charged
70 us by good many persons, now amounts
TO thirty millions also.
Aprop0s Of what are these remarks nader
We reply that our attention was called to the
subject by the iact-ior fact Il is, as we have
learned from the highest authority-that
Colonel III. @. PARSONS, OF Natural Bridge,
Va; ex-senator JOIN Is. HENDERSON, oil
Missouri, and JOSEPH S. MILLER, OF West
Virginia, ex-COmmissioner OF Internal
Revenue OF the United States, "have been
invited 10 meet Amsterdam and London
bankers on the state-debt question:" Asthe
gentlemen named we're expected to sail Tor
Europe on Saturday last, aud no doubt did
take passage on the Umbrla that day, we
may assume that the object Of their mission
IS rs stated.
Virginia 10 q Democratic State Her OH.
cials- legislative and executiye-are Demo-
Gratis, and yet we are here confronted with
the fact that two Republicans and one De-
mocrst have been invited to visit Europe to
settle the debt Of YIrgiRia. The two Re-
publicans are so well known as such that 1t
is source OF surprise to US that nobody sug-
gested 10 the capitslists inviting them to
Europe that II would be better to have
commission composed more largely Of De-
nocrats. Ii would be a feather 10 the cap OF
Colonel PARSONS IL he cosld effect an ar
rangemeut with Virginia's creditors under
which the Stste debt would be taken wholly
out OF the arssa OF party politics.
Now, what does this "new movement"
meani Colonel PARSONS is a BLAINE mau,
and Mr.. BLAINE IS Secretary OF State OF the
United States, aud has been friendly TO the
proposition 10 turn over her share OF the In
tsrnsl-reyenue receipts TO Virginia to pay
her debt with, and TO relieve Virginia en-
tirely OF West Virginla's share Of the State
debt But we IN Virginia haveso completely
abandoned all intention OF paying any por-
ton, however snail, Of the one third OF the
State debt which was ass. gned TO West Vir-
ginia that this much OF that proposition Is
not as attractive In our eyes as II might
otherwise be.
Who are these "Ansterdam and London
bankers"f How much OF the debt do
they own or represent? 1t aust be good
deal, or they could not afford to pay the ex-
penses Of the three commissioners from this
side OF the Atlantic. Certainly Messrs PAR
SONS, HENDERSON, and MILLER have no such
personal Interest in the State debt as would
Justify them IN going 20 Europe on the mis-.
sion which they have undertaken. Is the
British Council Of Foreign Bondholders In.
terested In this schemei This can hardly be
true; for Mr. ROYAL who Is their agent
and sp.sks for them, has not been mention
ed in this connection.
This cannot be scheme undertaken 10 be-
half OF MALONE, aud TO embarrass the Demo-
cratic party, for Colonel PARSONS Is an anti
MALONE leader, Mr.. MILLER is Democrat,
audMr. HENDERSON probably says to MALONE
aid WISE, "a pleague on both your houses"
Will anything come out Of itf We fear
not Governor LEE would no doubt count
x the best title 20 fame that be could have II
be could be afforded al opportunity TO sp-
prove final settlement OF the State debt;
but we suspect that he does not build much
even Of q castle in Spain upon the PARSONS
foundation.