Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-02-14
VARIOUS DEBT PLANS
ANTI-coUPoN PROPOSITIONS PEND
INGAND TALKED ABOUT.
Provisions of the Military Code with Re
spect to the ONCE of AdJutant-
General.

lne fact that the Supreme oourt Oh the
United States has taken recess until
March the Sd notifies the General Assem-
bly, that at this session it is useless to
longer await the decisions OF that body in
the Virginia debt cases. BY the time the
court reconvenes the two houses will have
adjourned. What is TO be done in the way
of debt legislation will be done at once.
The Supreme Court may give its opinions
this spring or it may not do so until the
fall term and some additional legislation is
needed to prevent the May licenses being
paid IN coupons.
To secure this safeguard for the State
several measures are proposed. one looks
to making coupon cases triable in the
crcdit instead Of in the corporation
courts. Another gives the Common
wealth's attorneys Of the large cities assist
ants TO fight the coupon suitors. Another
ments, so that the man who now gets his
coupons in by one suit will then have to
bring four suits.
THE HARyAN PLAN.
These three bills are quite likely to pass,
but the measure that is attracting most ln-
terest and awakens greatest hopes is the
Harman plan"
This is the suggestion of the State Trea-
surer and is before the finance committees
OF the two houses, and as far az known has
not yet been put into the shape of bill.
IL contemplates disposing of certain
stocks and securities held by the State and
realizing theresrom about 81 900, 900 in cur
rency. which is TO be deposited in the State
Treasury to the credit Of fund TO be held
sacred and inviolable for the payment OF
the interest on the public debt.
| This guarantee fund and an amendment
to the law permitting holders of certain
bonds to substitute missing coupons with
Others of equal value, without regard to
date or series. will. it is hoped, 50 increase
the market value of Virginia 3's as TO cause
the bondholders to fund forthwith.
THE HOPES ENTERTAINED.
This scheme is received with great favor.
| The chief opposition to it comes from those
who are unwilling TO legislate in advance
| of the decisions of the United States Su-
preme Court. but it is being argued in re-
| ply that there is no point at issue in the
| pending cases which could possibly lnyali-
date or weaken q scheme which has for its
one and simple object the strengthening
of public confidence in tho new threes.
THE CAUCUS.
| These debt matters were briefly consid.
cred at the last conference of Democratic
members and will no doubt be brought ny
again at another meeting soon to be held
Two things are certain
First. The resources and expedients oi
| the State to keep the coupons out of the
| Treasury are by no means exhausted.
Second. Every effort and device possible
will be adopted to strengthen new Ys II
! the knowledge that the higher they go the
| greater will be the inducements to bond
holders to fund.
Limitation of Funding.
Delegate TYLER. of Prince William, is the
author of bill to place n limit upon the
time in which the bondholders may accept
the provisions of the Riddleberger bill anC
fund their holdings into new SO.
If Mr.. Harman's scheme is adopted such
q bill will probably accompany 1t. anc
whether it is or not Mr.. Tyler's PROPOSE
tion has supporters. who think that 1t IS
| the thing needful 10 give the creditors az
earnest of the States intention never t.
depart from tho Riddleberger bill.
II the bill is passed at least twelve
months will be given the creditors to fund
The onlce of Adiutant-General.
The military code, which is the specia
order in the Senate for next Tuesday. pro
yides among other things that the Adlu
tant-General shall be appointed by th'
| Governor, by aud with the consent of the
| Senate. and his term expires with th'
term of the Governor who appointed him
He must either have served in some de
ps-tment of the army of the Confederat
States during the war between the State
or have served five years in the Nationa
Guard or the army of the United States o
collectively.
He is still TO receive a salary of S1,5O
| (Which is the present law, paid out of the
military fund, but he Is required to dis
charge all the duties of inspector-genera
| without compensation.