The times. [volume] (Richmond, Va.) 1890-1903, 1890-05-21
WEDNESDAY. MAY q. 1880.
RESULTS OF COUPON DECISIONS.

Tho practical results of the coupon de-
cisions rendered on Monday by the supreme
Court of the United States, are substah-
TALLY these:
First: The payment Of liquor licenses III
commons cannot be enforced, because III
dealing with liquor, the state is conceded
10 have practically unlimited control. ms
however. had been already effected, as '""
rs coupons were concerned, nv zoe eNoi7o
board.
Secc-s. The payment Of school tax can
not he made with coupons, because this TAX
had been specifically provided for in the
Constitution of the state, before the consoi
coupon bond act was passed. This removes
Mt once the menace Of the coupons from the
schools. and secures beyond the reach OF the
creditor the inestmable blessing of educa-
tlon 10 our children, and thereby eliminates
the consideration Of this subject from all
discussions of the debt question. This, we
think substantial gain for the moral cause
ofthe bondholders.
Third. All othes taxes may be paid IN
taxes shall be deemed as good and sufficient
payment as if made in gold or greenbacks
and although refused by the officer of the
State. no more action can be taken against
the taxpayer than could have been' il ten
der had been made in gold or United States
Treasury notes.
All the devices for preventing proof of the
validity OF the coupons, such as the refusal
TO admit expert testimony, and requiring
the production Of the bond, are declared null
and void. All costs recovered by the State
for any suits heretofore brought, may be
paid in coupons.
Now. what does all this mean: Simply,
that wise and sensible men on either side
who have no personal ambition TO serve; no
official position to maintain, no axe 10
grind, but who, on the one hand, as citizens
of the State. desire to preserve the peace
and dignity Of he Commonwealth, and
who. on the other, rs bondholders, wish to
obtain what the state is able TO pay. and
no more, should as speedily as possible open
such negotiations as will lead to an intelll-
gent anu Just otNAAoiitht va Aht' N~'A' ~
its intrinsic merits. regardless of threats Of
reputation on the one side, or of eNaction
Of the last dollar on the other.
This fight has now been going on for
about eighteen years. and except for such
cOnsIn IiUnus a. were lunueu unuvi tnv NJ
CullOch scheme Of 1879, the bOndhOldcrs
still present an unbroken front, while the
State has been driven from pillar to post
resorting TO all manner of notifying de-
vices, and only piling up debt against her
self. Our effort has been, and will continue
10 be, to agitate and ventilate this subject
until the controversy shall be brought TO a
close by mutual agreement upon principles
that are acknowledged by the common con-
sent of mankind TO be just and right. We
have no other interest but TO protect the
honor Of this State. Our sole interest in the
bondholders is that they are our bond
holders, and that justice to ourselves re-
quires that we should do justice to them
The ends Of this justice would be much
expedited if the bOndhoders would appoint
some agency Of commanding dignity with
unqucstionable authority, 10 speak and act
for them in conference with that commits
sion the State has already designated for
the purpOse-let them meet.