Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-03-24
CARD FROM Mr.. ROYAL.
He Answers Charges Made in tho Recent
Interviews.

Interviews.
RICHMOND, VA, March %, 1891.
To DE Editor Of ne Dispatch:
The DfspArcH Of yesterday contained
several interviews which do very great IN
justice 20 the Council of Foreign Bond
holders" of London. represent that body
here and am not willing to let the state
ment You have published stand without
protest and a statement Of facts as they
are.
!. Mr.. Cardwell said:
Past experience has taught the people
of Virginia who are at ell Informed on the
subject that the Council of Foreign Bond
holders il nothing more nor less than a
money-making concern, and anything else
but settlement suits this foreign corpora
ton"
The facts about this body are these:
The people of Great Britain have adj
vanced money TO aid public enterprises IN
every part OF the world. Many debtor
countries have, like Virginia, become de-
linquent in payment of their debts, A
large body, comprising some Of the first
men in England, have organized under the
name of THE Council of Foreign Bond
holders" This body undertakes the bust
moss of effecting settlements with delin-
quent public debtors. The members are
forbidden by their constitution 10 receive
o cent for their services. They have mp TO
this time adjusted and settled more than
four thousand millions of dollars of public
debts, though only organized in 1878. They
have very large sum in their treasury,
which is held exclusively TO forward the IN
terests Of the settlements that they under
take. The BODY has in it amongst other very
distinguished men the Right Hon. Sir John
Lubbock, Bart, M. p, +. r. 3, wealthy
banker, a member Of Parliament, an au-
thor of the highest renown, and scientist,
recognized by the world as one of the fore
most now living. This gentleman is chair
man of the committee of this body which
has charge of the interests of the creditors
of Virginia. 1t has in 1t men eminent IN all
the walks of life. Amongst Others may
mention General Sir George Balfour, X. Z.
B., NJ. p, Right Hon. G.. A. l.. Cayendish
Bentick, III. T.. the Right Hon. Lord Cone
mara, John Henry Daniel, ESQ.,, the Right
Hon. Sir Mountstuart T. Grant Duff. q. !.
f., q. G. S. l., His Honor Judge Snagge, Sir
Henry w. Tyler. N. p, and General Sir
Luther Vaughan, K. G. j.
2. To say that the Council of Foreign
Bondholders does not represent the. W.
GINA debt is simply to ignore the facts.
It's word is law to Nirginia's creditors. 1t
was the Council that, by recommending 1t.
caused the bonds to be pooled. 1t Is the
Council that will finally say what the credi-
tors will take and what they will refuse.
If it should tomorrow advise the creditors
TO take the Riddleberger bill the Riddle
berger bill would be accepted. Whatever
il advises the creditors 10 do that will DO
done. 1t ls therefore splitting III the
wind " to attempt to docry its influence IN
this matter. Ii is all potential.
3. The Council has not failed IN per-
forming its obligations TO those TO whom 1t
gave guarantees. IL guaranteed those who
would exercise their lawful right to tender
coupons for their taxes that they should
be saved harmless. The State has 80 far,
though bringing her entire power into
play, been unable to harm them to the ex-
tent of one dollar. 1t Is taking its own
method of destroying the judgments that
When one of them is injured and redress
refused him it will be time enough to say 1T
Is false TO its obligations.
4, and finally. 1t is absurd 10 hold the
Council responsible for the trouble that
has been given TO the State. | am the one
to hold responsible. | alone have devised
and put into execution every measure that
has embarrassed her government. Let
those who complain of it hold me respon-
sible, for | alone am guilty y: and l am
most proud of my guilt" | have done
what have done as paid counsel, 1t Is true,
but none the less as a native NirglniGn,
proud of his States history and dearly
loving her good name.
If no higher motive inspired them l
think all good Virginians should aid me in
my efforts on account of what 1t would do
for the States material prosperity. This
debt is keeping millions upon
millions of dollars out of the State. / am
in q number of Virginia enter
prises Whenever / go away from home
and attempt to get outsiders to put money
in them this repudiated debt is flung in my
face and people turn deaf ear to all that
/ say. Ask any one who has tried it for his
and ! warrant the same answer
will come. Ask Acknowledgement Ayers
what his experience has been when he
has sought to get money for his railroad.
/ defy any one of the gentlemen inter-
viewed by your reporter to deny any one
of the statements made here If he will
do so, and the Governor, the Attorney
General. and the Second Auditor will act
as a committee to decide, l will prove what
| say before them or will agree to stand
confessed misrepresenter of facts.
WILLIAM L. ROYAII