Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-04-28
TO THE EDITOR.
sorrcs OF INTEREST DISCUSSED By THE
PUBLIC.
TIE British Bondholdsr Marshall va The
Bon0hOlders Lawyer Royal.
TO the Editor Of ne Dispatch:

Court OF tho United States in Antoni rs.
Grccnbow. in 1889. now going on seven
years. Mr. Royal has been rsilying from
his defeats having in oil that time
gained but one, and that only an ap-
parcnt advantageous, IN Ioindexter
SS. Grcenhow IN 1884.
In that time he has made claim for
very heavy damages in about sixty cases
against VARIOUS treasureis and the
Board OF Indemnity, aggregating
over $3.50. 000, and has been disap-
poinied in every instance. In every
other ono Of some ak or eight suits. in
Which he announced himself confident
OF success, he has been hoored and
each time, ii may use the phrase which
She note Jack Pcndleton applied to MIR.
Richie in 1910, Cooking up TO Heaven
and no. 90 the earth, where he Law upon
ms back. he has cried TO his clients {:
skies fright and Frightening once
he "bad the State by the throat but
she flung hun oil Once he had her At
fornev-lIcneral and another eminent
gentleman arrested and imprisoned by
She ever-roady Bond, bat the supreme
Court released them in a mode which
rehuked both Mr.. Royal and Judge
Bond.
Another time he attempted 10 enjoin
Che Board of Indemnity but he missed
st. Another time no attempted to enioin
sheriff Winston. but that officer diTe-
gsrlod'the order, aud Judge Bond had
20 sustain him and so forth. The last
so heard from him was on the 18th Of
January last, when be gave notice that
she state Was standing on her last
leg, and that II be won certain cases in
che Supreme COurt in October next, as
no was sure 70 do, then be would break
that leg. No | am mistaken. tins
last was in the Dispatch Of February
9th. when Governor Lee and Mayor
fiyson having apparently blocked
mis- game a forcing coupons upon
.hc Treasury, he declared that 1.-the
party % thai is 10 say, tho Democratic
party" which maintains the present
policy Of the State in this matter de-
serves 10 be overthrow, and AZ sure rs
light is right will be overthrow il dis
erace. Rule or ruin
Iiut al these explanations do not seem
60 enhearten the British bOndholders,
as witness & pamphlet Of some sixteen
pages lately issued by a MIR. William
Marshall, of London. The pith of 1t
may he given in very few extracts.
This is tie way thew understand the
ease:
"Ihey referred their canse with con-
Science, and even with careless security,
90 the supreme Court. So confident
we're oil tho money markets Of the world
OF the succcss OF the riehteous appeal
.lot. whilst they awaited its result, per
cont. Virginia bonds were sold in New
: orK ana London at 50 per cent What
was the result of the appeal The Court
gave "a Judgment deciding that Nir-
gnm's requiring each coupon to be
passed by q lawsuit through three courts
OF Law 10 prove it's commences before
her receiving 1t for taxes wRs not a
breach Of her contract 10 receive 1t for
llom.
The worlds money markets were as
tounded. The honorable citizens OF
Virginia. who even no to that time had
sympAthized with the bOndholders,
although they were unable to help them,
declared th4t HoW tie rcprOGch Of DIS
honcsV ,ous at last taken Of from their
ous Ntutc 69 the United states. and
toas bv Upcnl put upon Themselves.
"The effect Of the judgment on Wall
street was that the bonds, which had in
the morning stood at SO, fell in the eve
ming to IS, and day by dav declined
down to fl, with threat of declining fur
ther down 10 less than 80, this being
their value according to the tenor of the
Kiddleberger bill Many OF the bond
holders. therefore. were obliged to part
with them bv a forced sale at the depre-
ciated prices and were outright ruined.
The scene at their meetings was most
distressing. Helpless lRdles--widows,
mothers, with their dsughters-were TO
be seen there III tears, wring1ng their
hands ia agony. and vainly trying to get
consolatory bope from their fathers and
husbands They we're ruined - not
~ the fault of these, not by a pri-
vate bankruptcy. but by the failure
of moral principle in q sovereign
State; by the abuse Of sovereign power
20 the commission Of that act OF petty
fraud 10y which the rum WAS effected.
The remainder of the bOndholders still
held on 10 their securities they were
stunnsd-but they could not, they would
not. believe but that there had been some
nist4ke, and that 1t WAC utterly impossi-
hle that the Supreme Court could sane
non so llaGrant a robbery IS that which
fhev were sustaining. They, Therefore,
over aud over again appealed to the
court. whose judgments, always tlmid
and ambiguous as TO the Legality of tho
Riddleberger bill, yet seemed for year
% be so far III favor of the bondholders
rs 20 decree that Il taxpayer paying to
The state her tax in coupons, even al
though these were not received IN lieu
of il by the State, was free from further
claim by her for It.
"On hearing this judgment the repu-
diators began TO question the authority
and powers Of the Supreme Court and
In obedience TO their outcry Nrglnla's
Acknowledgement was directed by her
Governor 70 make that further claim III
open defiance OF the court, and to prose-
cute those who resisted 1t.
ITO the court the bondholders once
more appealed. And now the secret OF
the courts motive IN having passed that
Judgment which 50 be~ildered honest
Justice Field came TO light The court
confessed that by the Federal Constit't-
tion il ,oas utterly poWertc8s to enforce
SIS {uagmcnts against the STATE, or
aQ0inst 0ae Of her immediate oDicerS,
and that the Constitutions presumption
was that the State could do no wrong.
Virginias repudiators. ignoring the re-
buke implied in the Judgment, made IN
slant use Of the judgment by enforcing
still more resolutely her conpon-Hller
bills" -
and the following is the plant OF Mr.
Marshall thereupon g. claim my PRIV
lege as one Of the robbed, speaking Tor
the rest of the robbed, 70 describe the
money. Ii is Plumber. Part OF 1t is
ptolen from me and mine. Part OF 1t con.
1sts OF the world.wesl Of twenty years OF
- r..;l,. lie IL conaists in the elders