The Daily times. [volume] (Richmond, Va.) 1886-1889, 1889-01-31
COUPON CONFERENCE
CALLED IN THE CHAMBER OF CON.
MERGE YESTERDAY.
GOVERNOR LEE AND Ma YOR
ELLYSON MAKE ADDRESSES.
CITIZENS Urged to Paw Taxes in Money

His Honor. Mayor Ellyson, at the rooms
of the Chamber of Commerce, on We'd
nesday, January 3Oth, at 6 Z. NJ, TO con-
slider some questions of Importance TO
the city and State
In response 10 this the Chamber Of
Commerce was hlled yesterday evening
40 o clock by representatives, OF every
branch of business. merchants, manuiac-
turcrs, and professions. Several colored
merchants were present
slR. JOHN II. PURCELL
called the meeting 10 order, and said the
business which brought US together was
that in regard 20 paying taxes in coupons.
There are cOgent reasons 10 be shown
why these taxes should be paid in money.
He then nominated Mr. John II. Monta-
cue 90 preside. and he was UNANIMOUSLY
elected ON motion of Mr. Potts, Mr.. b.
NJ Quarles was elected secretary.
MAYOR EILYsoN
was then introduced. In inviting bust
ness men 10 consider questions, he said,
the first question asked is "Nill itpay y
! will consider il from that standpoint
/ met the Governor by invitation several
weeks ago in regard to the calling of an
extra session The Governor did not
want 10 call one The Governor then
said that the condition of the treasury
bv the use Of coupons, was getting Sc
rious.
The suggestion had been made 10 the
Governor to double the taxes Of licenses
which would operate only in the cities.
and then make other obstructive legisla-
81 Cd l To- UrnrlII qCf
so as 90 initiate against Richmond In
the counties the lands have fallen OH IN
value Sj3,OO00 000 i'm the cities they have
increased S34,000O00
] promised him that | would call meet
inr of the different business men OF the
city and have the Governor with me.
Appeal TO their common sense, and after
acting here the movement would be car
ried on in the other cities,
There are two reasons why we should
pay in money. First, TO prevent hostile
legislation If sou pay in coupons and
the Legislature doubles the tax, what
does il advantage The increase in the
demand for coupons only increases their
value. You gain nothing, but the bond
holder does
/ want to speak for Richmond. What
incentive could a bondholder have to
spend money ir a fight if he found no
market for his couponsy Why should
Richmond pay the foreign bondholderf
She has been known as q debt-paying
community She has made many sacri-
fees TO sustain her credit There are
not of old issues 250 bonds held in the
CITY vet she stood up manfully and paid
her interest Sometime ago We tired 10
sell city bonds. but could not sell one
outside the city.
The Northern capitalists would not
take them. They were afraid OF Viz
ginia's reputation IfOne repudiated Rich
m0nd would repudiate That was the
thanks Richmond received for years OF
work in trying TO build up the credit OF
the State: Richmond, who has always
maintained her credit and will keep on
doing So.
The people will not submit to more
taxation. and if You business men VIII
not stop using coupons for taxes, Ken.
mond viii have 20 bear all the odium OF
repudialion.
TIE sPEEDIEsT WAY
10 settle this debt question is to pay
vour taxes in money, then there will be
no market for coupons, and no one
mart of the state viii be benefited 30
much as the city of Richmond
GOyERNOR LEE
was next called on He said be was
nresent not so much as the Executive Of
Inc State as a citizen anxious for her
dignitv and success. As captain Of the
old shin of State, and ! see her neariug
the breakers, il is my duty to call the
seamen Oh deck and both together strive
10 bring the old ship into port. The
seamen will work hard then, because
thew know if the ship goes down
tney 90 down with it, lie talked
with men on the street corner and IN
their houses unless they would let him
on this subject, and when anyone says
that his office Is TOO high for that don't
want il. IL think l have the knowledge,
and il has been increased by my Official
position that the people have taken
charge of this debt, and every settlement
has TO be refunded to them
lie ran hastily over the debt legislation
to the year 1879
He referred TO the Funding bill OF II.
How the people at there next opportu-
nilv sent back Legislature that re-
nealed 10. He never himself thought
much on the subject till 1879, when me
Mccullough bill was passed. But the
people sad they could not pay even on
that settlement The people put IN
power another party who mace ,
another settlement than that OF loo2'
F That settlement curtailed the sum when
was To- be paid, and the people adopted II
AS the only one by which they could pay
the interest yearly and the principal al
maturity.
The several elections showed that the
people intended TO stand by ii, and the
F Democratic party resolved TO stand by II
and came back TOT power. Both parties, all
the people, are pledged TO that settlement.
What is the use of sending commission
10 EuropeY What use TO make new
.eftlementY No matter what u LegiSla-
tnre NAV do, what viii il amount 10 II
be people say noy The people are on
top Robert T. Lee for Governor stone
B wall Jackson for Lieutenant-Goyernor,
Jeb stuart fos Auorney-General, could
moi get the people 20 pay money to
foreign bondholders beyond the Riddle
berger bin.
THE EXTRA SESSION.
There was great pressure brought to
bear on me to call an extra session. Lieu
tepant-Go Massey, Speaker ard
Well. Capitol officers, and prominent
members of The Legislature wanted i1
? The settlements Of 1871 and 1879 came
from The Legislature 70 the people That
settlement of 1852 came from the people
When the liquor dealers the other day
resolved 70 pay in money Riddles
went up several points. Let II "a
forth that the business men OF Richmond
/ intend to man TO pay IN money, and
YOU will get telegram that these bonds,
The people settlement are jumping up
SO g.. and upwards If this debt is set.
lied the bonds will reach 70 or s., and
NAV not possibly fail 10 equal the Mary
land IS which sell at 100
High.minded men call out Principle.
The State has made a contract, she
.t4 1870. -. 90 In How can shp Il