Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-05-21

| sold AZ few weeks ago, to 10 cents, and
| poss,blv as low as cents. Whilst RIDDLE
nynogns in the future, az in the past. viii
be steadily rising. We hear they went IRON
81 TO 81 on yesterday.
What will be tho determination of the
bondholders in Wow OF the Courts deci
sion. of course we cannot tell.
But IL is safe TO say that the decision Of
the State will remain unchanged. Last
winter both houses unanimously endorsed
their approval of the position of Governor
MCKINNEY announced in transmitting to
the General Assembly on January IL, 1890
lette. addressed to himself by MIR. JOHN
Lunnocu. chairman Of the Committee oil
Foreign Bondholders, in London.
That position was in these few PLAIN
words:
81 would advise that we stand by the
Riddlcberger bill and amendments.
But if the bondholders propose, dihcren'
terms not materially increasing the prIn.G,l,-
pal or interest "a ascertained by that olil'
il would be well 10 require as an lnalspen-
sable condition of con@,derlns any sucn i
propostyon. that il should embrace n
bona toe tender of so large a proportion OF
the consol and ten-fOrty bonds as 20 guar
antee a settlement of the whole deD1
If il should be accepted"
About six weeks afterwards. and, az ~
happened. on the day after the Senate had
approvcd the Governors position reso-
luton was introduced into that body which
passed both houses amid n good deal OF
excitement. creating commission TO re-
ce,ye PROPOSALS for funding the whole debt
unou the principles set out in the RIDDLE
BERGER bill, provided that such proposal
should be accompanied by a deposit OF
81 00o 900 TO insure the faithful perform
ance of the proposals.. Any contract OF
settlement to be ratified by the General
Assembly. and allowing an0tb0 p'dn-italics
or1r own--fo be proposed for a.sinkiDg fund,
not less favorable TO the State than the
present. and allowing for lower rate OF
interest or longer period for the maturing
of the principal.
We have not been able 10 satisfy our
selves of the wisdom Of that measure
which certainly contemplated departure
from the RrDDLrDEpGrR bill. But as no
nepotiator has yet put up the million so
far n we are advised and as first COM
mission and then the legislature mus;
pass upon the plan TO be adopted, II any
shall be. we hope no harm viii come OF the
project
But if q proposition is made either
under tho Governors advice or the lat
ter scheme. we hope the proponents will
be represented by more reasonable men
than were sent to the conference of May,
1887.
At that time, it will not be forgotten that
they demanded S9OOO,OOO more than our
Joint committee could concede; and that
then formally Withdrew their own PROPOSE
ton and, to use their own language,
claimed their full rights as established by
law" -; that they published and circulated
statements at variance with the formal re-
port ofthe Joint committee" and, III the Ian
puace % that committee. insisted upon
terms which were injurious to our educa-
tional interests and to the charities Of the
State and to the veterans Of the war, TO
whom we owe more than we owed to all
those who call themselves the creditors OF
the State"
The result of their appeal to the courts
since that time is now before them, and
they can reflect on their full rights
as established by law" they have seen
the Republican party. with which they
threatened to unite, covered up by
a vote of forty thousand Democrats.
May we not hope if they try again 1t will
DO with a chastened judgment, an i'm
proved temper, and a more compromising
spiritl