The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1892-03-10
Honor to Whom Honor is Due.

~ - w.
The final settlement of the State debt
question in the acceptance of the propo
sition of the Olcott Commission, is a
matter of universal congratulation with
all Virginians. While this suspicious
and pregnant result is commanding the
approval of the people, it is not out of
place to revert to the actual author of
the basis of this settlement, and accord
honor to whom honor is due. The Rid
dleberger bill so fiercely denounced few
years ago, is the basis of the present set
Element. The plan of that bill was the
suggestion of the late Judge Geo. R. Cal
vert, of New Market, Shenandoah, Va.
1t was with him that the late Hon. H n
Riddleberger, then Il member of the
Virginia Senate, conferred, and by him
that the main idea of the Riddleberger
bill was suggested. These two gifted
sons of Shenandoah county worked to-
gether on the skeleton of the measure,
probed into the facts of the States real
Indebtedness, and with the valuable as
sistance of others, brought forth the bill
that was finally adopted by the Legis-
lature and constitutes the basis of the
present settlement. That measure was
a fair an honest statement of the condi-
ton of the debt and the obligations OF
the Commonwealth. In no particular
has any of the facts produced and incor
porated in the BILL been successfully
assailed 1t has withstood criticism from
every source, but in no criticism was the
formulation of the debt found to be err
rorneous, after patient investigation.
The only feature OF it that was subject
to cen5ure, was the rate of interest it
| provide for. 1t was not cOntended that
the original debt did not call for per
cent, nor that the State did not contract
to pay that rate But the impoverished
condition of the Commonwealth, as the
result of war, the destruction Of all per-
sonaI values; the industrial disorder that
prevailed, and the general ruin that
swept over Virginia, were regarded as
sufficient justification for placing the in
terest charge at per cent. This was
the reason and excuse forincorporating in
the bill, the only feature that was justly
subject to criticism.
What was known as the Readjuster
party, may fairly claim the credit of the
present Debt settlement, although those
who were opposed to that party and to
the terms of this settlement, are now in
favor and gave their unanimous endorse
ment to it. No political force ever or
ganized in this or any other State was
ever so maligned, denounced and SANDER
ed as was the Read justers, and yet no par
ty ever worked out more salutary results
or consummated SO much good for g
people as did that party for the State Of
Virginia 1t grasped the situation with
master hand; it grappled with condi-
lions which appalled, the most courage
Gus; it encountered prejudice the most
intense and faced hostile forces the
most malignant; yet it moved right along
on the line of reform and in the path OF
duty to the Commonwealth, until it full
filled every promise made and consum-
mated every reform assured.
1t is due to the memories of Hon. H
Fl. Riddleberger and Judge Geo. R. Cal
vert that their relation to this subject
should be mentioned, and it is due to
the much maligned "Readiusters" thai
the work they accomplished should not
be forgotten in the congratulations thai
now come up from every source, on the
occasion of the final disposition of the
question which was the paramount sub
ject of their legisla ton. Time has amply
INDICATED them and the verdict of cred
itor.and debtor has emphasized the wis
dom of their course