Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1890-01-17

DIBDthJ OulCo III lbO ct"to VI vi
ginia, and in doing 80 / would
venture to bring to your
excellency's attention the long.
pending question of the Virginia
state debt, which, no doubt, has
already been matter of Your care
full and anxious consideration, and
which, | trust, under your excel.
lency s auspices, NAV be brought
to conclusion satisfactory alike
to the state and the bondholders.
venture to think that the ques-
ton Is one of The most important
matters hich can affect the pros
perity of the state of Virginia, and
that a permanent and satisfactory
settlement of 1t would render yOnr
excellency's term of Office notable
in the annals of the cOnmonweal h.
The council and committee trust
that your excellency will take an
early opportunity of bringing un-
der the notice of the state legisla-
ture their earnest desire to put an
end to the protracted contest which
has proved so detrimental to the
interests of the people of Virginia
az we'll as to those of the bond
holders.
The points in divergence on
which the negotiations IN 1887
failed are not so great as to pre-
clude, as the council ventures to
hope, the adjustment of the qaes-
ton at issue, especially bearing in
view the Increase of available rev
enue.
BeariDgIn mind however, that
failure, your excellency will agree
me it Is highly desirable in order
to preclude the possibility of a
similar miscarriage, that before a
formal negotiation Is reOpened,
either here or in Virginia, pre-
vions understanding should be ar
rived at as to the general plincl-
pies which should govern the ne
COLLATION..
Such an accord would simplify
and facilitate the task and tend
largely to a successful issue.
The council and committee are
most DESTROYS OF giving to any sug-
gestlons of your exceIlehcy the
best possible consideration, with
every wish to meet your views on
all points in which it is possible to
do so, due regard being had to the
necessities of the case, and the
knowledge which they posses as
to he kind of arrangement which
the bondhOlders would alone &C
cept.
1t we could arrive in some way
at a preliminary accord on the gen
eral basis of an arrangement !
would then suggest that your ex-
cellencv should accredlt representa-
tives of the state to carry out and
conclude negotiations III London.
This, venture 10 think, would
be the pref rable course and one
most likely to lead to defGile set.
Element, but If you could not see
your way to meet this suggestion
the council and committee wOuld
be prepared to send a commission
or to Rlchm Ond with full power to
conclude on equitable comprO.
mise.
In the meantime | can assure
your excellency of the sincere de.
sire of the council and committee
to cooperate in bringing about an
early and equitable arrangement
which may afford permanent set
Element acceptable to both par
ties.
For the past seventeen years
the council have been instrumen-
tai In the settlement of debts of
numerous states in various parts OF
the world, and in no single in.
stance have they failed to carry
out, with complete success, any
arrangement which they have ne
gotlated, and have placed before
the bOudholdersl with weight of
recommendation for Its adoption
The council are in direct CON.
munlcatiOn with the bOndholders
and their representatives, and
they are in position to speak
with authority as to the kind of
arrangement which the bOudhold-
ers would accept AMI what they
would refuse.
Your excellency may, therefore,
with perfect confidence rely that
any arrangement made by the
state with the council and commit
tee would be a permanent settle.
ment as tar as bondholdors are
concerned, and that there would !
be no chance of its failure for want
of ratification By the bondhOldcrs
Of the action taken Ivy the council
and committee on their behalf.
1 have the honor to be, sir, your
exoelIency's most Obedrent servant,
JOHH LUBBOCK, Chairman.
His ExcelIency the Hon. p. w.
Mckinney, Governor of the Com.
mon wealth of Virginia.
Two Hundred Killed.