Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-03-14
DISCUSSINGTHEDEBT
THE SETTLEMENT Talked ABOUT IN
OFFICIAL AND FINANCIAL CIRCLES.
Nothing Known Here of the Proposed
Visit of the Bondhoiders' Commit
tee-The Virginia Commission.

The debt-settlement question was dis
oussed around the Capitol yesterday, but
no one seemed TO have any knowledge OF
the shape IL was in beyond what had been
CLEANED from the article in the New York
Times reproduced in the DISPATCH OF Thurs
day.
One basement officer said he did not un-
derstand Captain Gardners statement re-
garding preliminaries having 70 be ar
ranged between the Bondholders' Commit
tee and the Council of Foreign Bondhold-
ers, as the latter had nothing to do Win
the matter.
THE COUNCIL REFUSED.
Anent this it NAV be said that rumor has
1t that the Council of Foreign Bondholders
were approached by the Bondholders
Committee with a view of getting the
former to use their influence with the
bondholders for the purpose OF securing
their coming into the pool, but refused, as
the Bondholders' Committee declined 10
say what was proposed TO be done. -.
Colonel Frank q. Ruffin, Second Auditor,
said while talking with the DISPATCH repre-
sentative that he had no information of q
proposed visit of the Bondholders' Com
mlttee to Richmond.
SHOULD BRING A PROPOSITION.
Mr.. John p. Branch, president OF the
Merchants National Bank. who generally
keeps advised touching this subject, was
also. unaware of any intention OF the Bond
holders Committee 10 visit Richmond, but
was emphatic in his opinion that the COM
mttee should come forward with some
proposition. The matter, lie sald was IN
the hands of the New York committee
and an advisory committee in London,
consisting Of Mr.. Phelps and Mr., Braltn-
waite and another Englishman. This, com
II ittee, he thought. would be largely IN
fiuenced bv the advice OF the Council Oh
Foreign Bondholders.
WILL THE COMMITTEE COME?
There seems TO be nobody in Richmond
who has any information as TO the plans
of the 0lcott Debt Committee.
The statement to the effect that they
have about completed a plan which their
representatives will soon submit TO the
Virginia Debt Commission has attracted a
great deal of attention.
A DISPATCH reporter talked yesterday
with Speaker Cardwell and Senator Wick
ham. both of whom are members OF the
Virginia Commission, on this subject, but
neither of them had heard anything Mt all
about the committee coming TO Ric h.
mond.
Mr., William l.. Royall. counsel for tho
bondholders: Mr. James b. Pace, pIcsi-
dent of the Planters Bank. which IS one
of the repositories. and Colonel W. W.Gor--
den were also seen, but none OF them had
any information on the subject.
OUR COMMISSION.
The Virginia Debt Commission is COM
posed of Governor Mckinney, Lieuten-
aut- Governor j. Hoge Tyler, Hon. Taylor
Berry, chairman Of the Senate Finance
Committee. Senator n. r. Wickham. Hon.
X. II. Cardwell, Speaker of the House Of
Delegates, Mr.. Dabney. chairman OF Che
House Finance Committee, ard Delegate
Tyler, of Prince William.
The. resolutions published Yesterday
under which this commission was created
had their origin in the Senate Committee
on Finance, and were presented by klr.
Wickham They were discussed at length
in the House and a strong fight was made
against them. An effort was made
to incorporate an amendment providing
that no proposal should be entertained
looking to funding any portion OF the debt
which had been Outlawed or excluded oy
legislation subsequent 10 the Riddleoerger
bill. This was defeated.
MAJOR TYLER's VIEWS.
Major Tyler was opposed to serving on
the commission. When the Senate con-
Cured in the amendment OF the House add
inc anaddtional member of each branch
and Mr. Hurt nominated the Lieutenant
Governor, the latter said: - believe that
danger Turks in the folds of this measure,
and inasmuch as the Legislature has but
recently said that the hope of settlement
on any other basis than the Riddle
| berger bill and its amendments
would be vain and delusive and
inasmuch as I would not consent to de.
part one iota from that bill in any feature
| or particular, do not see that commits
sion would accomplish any good. but on
the contrary excite hopes with the credl-
tors that could not be realized and cause
| unnecessary disturbance and anxiety with
our people, and for these reasons | am op-
posed TO taking any other course than tc
simply say to the creditors: There is the
settlement: it is the best we can
do: you can accept or reject II
as you choose. If you refuse and
| further annoy the people and they finally
say in their desperation they will not do as
well as the Riddleberger bill proposes you
| do il at your own risk. | earnestly pray
that the bondholders will see 1t IS to theii
interest 70 cease the agitation of this ones
ton and allow the only settlement to
stand that can be made"
Being pressed TO serve. Major Tyler con-
sented TO do so, saying that he would not
decline to perform any service asked by
| the DeOple or their representatives.