Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-01-24

- Il
asa, but ! bayo . statement from tho Audi-
tor by which It appears the, the Assess
mcnt for 1891 viii bring an increased
revenue OF over $4,000, $4,000 coming
seen that we may reasonably expect that cur
current revenues win DO ample 70 mset tho sc-
cruing interest during the next ten years Bus
In addition TO tho carrent re1eips We n sos nov
end OF the last fiscal year, s64f,4sl.35, ana IN
the hands OF the Sinking Fund Commissioners,
subject 70 our order, slD2, lO0."S, which abund-
sntly provides AGAINST any failure ON the part oil
on our debt when funded UNDER the oscott set
tlemcni.
Mr.. nunford said that there were now out
standing 81. 027, O22 OF tsx-rcceiyable coupons,
and no declared-that only the patriotism OF our
people prevented tho great bulk OF these nom
coming into the Treasury and absorbing al OF
our revenues
lie urged the law-makers 10 meet this pa
triotlc dlsposition By the speedy ratInca-
ton OF this debt settlement, which
would relieve the State by substituting bond
with q low rate os interest, payable century
hence, for these coupons, which threatened &c,
siructon and confusion to the financial status OF
The State. Mr.. Munf0rd paid a high compii-
ment TO the Debt Commission, and In conclusion
made an earnest appeal TO the General Assem-
bly, on behalf cf the resolution.
NIX. LErcHER WANTED LIGHT.
Mr. Leicher vigorously oppote1 the resolution.
"AIl ask lie light" said be. II only ask isnt
on a subject which has been darkness hereto
fore. We have a right TO know @hat this settle
ment IL. This whole subject IL one which DO
mauds the closet consideration. Why, Mr.
Speaker, during last session we estimated Tor
two weeks In the Finance Committee on sub
jects Of far less importance than this and to-day
you come here with a settlement OF this debt
ard ask that II be showed through here Win a
resolution that don't even give the terms and
conditions OF II.
al ask that this report be voted down or re-
ferred 70 the Finance Committee, 10 10 returned
by them with the measure we are TO vote on,
continued Mr.. I.etcher. ''Furthermoie M
Speaker this settlemen Mt con.emplates only $685.
100000, but II you examine tho Second Audl.
tors statement you will ind the deb. calculated
10 be $50, 100000. i say, let us have time 70
look into these things; there is evidently mis-
understanding somewhere. don't want 10 fight
o settlement. but want light. . | would IKE TO
have ar opportunity to hear the Governor, Lieu
tenant-Goyernor. and basement Officers discuss
the matter before us in Caucus.
Everybody recognizes the benent OF n settle
ment Of this debt, but the question ~, Is tnls
settlement? All these things show the many
differences OF opinion. Lot US have the question
thoroughly Investigated"
MR.. sAusDEKs Also OPPOSES.
Mr. Saunders. in a lengthy article which
showed his familiarity with the subject. opposed
the report OF the committee. lie said he was
willing TO admit that the debt commission aud
committees had done well, but II seemed TO nun
settlement explained, and then the House could
be committed 70 IL. He thought that the report
and bill should be considered together. i
simply say here to-day, IS i s.ld yesterday,
continued Mr.. Saunders, thstl deprecate haste
In connection with this question, and don't
want to DO put In the position OF antssonizing
the proposition. On tho contrary, the best OF my
inciinatons IL 10 endorse these details, but we
should consider them carefully hold the honor
OF our state sacred" concluded Mr.. Saunders,
"and though / don't want 10 go into unumely
haste, yet when the time comes 10 act Ia her be-
half will be ready.
Mr. John Thompson Brown followed Mr.. Saun-
ders In brief speech. at seems 70 me there 10
one question, and one question only" said he. "lt
is, If not this, WHAT l agree with the gem
tleman from Caroline In endorsing this report.
We endorse our commission that have for two
years been laboring over this matter. IL we do
not, what is our pOsitiOn' 1t seems 10 me that
II would 10 exactly what IL was when they were
appointed. We cannot fail TO endorse them IN
toto without rooponing the whole question"
WOULD DRIVE THEM CRAZY.
Mr.. Gibson said he didn't think that 4, was ne
cessary to travel the whole world OF politics and
statistics. What are We askei to do7 simply to
approve in general terms tho action OF our COM
mittee. This Is oil. Why shouldn't VIC 10 II.
We could do this without committing ourselves
TO every detail which would DO introduced. l
can't see the force OF any objection TO this settle
ment. We are to pay less than 6S cents on the
dollar, bearing 2 per cent Tor ten years. ana .
per cent. for ninety. What possible objection can
there be 10 that. Now these gentleman say we
can't paw it. Can't We pay 2 per cent easier
than u per cent? Can't We pay sl0,OO0,0OO
more easily than we can pay $2s.O00,OOO? The
speaker, interpolatod throughout his remarks
the usual witticisms which characterize his
speeches. In concluding, Mr.. Gibson loosely
said: "The settlement OF the State debt will
greatly decrease the expenses OF lunatic asy-
lums. There are many men who have gone
crazy on tue debt question, and great many
more that will have 10 be sent 70 asylums II the
consideration OF the debt Is much further pro-
longed. IL We undertake 10 nnd out all these de-
tails In a day or two nearly all Of US will go In
sano, and there will have to be established a
separate asylum for members Of the Legisla-
ture."
THE SPEAKER on THE FLOOR.
Speaker Cardwell now took the floor. having
called Mr.. Ryan 10 the chair, and made yigo-
OF the committees report. Mr.. Cardwol said ne
had read in the Times OF yesterday lengthy ar
ticle (by Colonel Frank q. Runnn) opposing the
proposed settlement. 81 wish to speak In REFER
ence to this article" said Mr.. Cardwell, land TO
say that after tho writer has promised not TO in
terfere with tho debt question, and aftcr he said
TO me within few weeks past that this bill in-
volved a better settlement than the Riddleber.
ger bill, such a man should not make much Of
an impression upon the members OF tho General
Assembly. man who asks men 10 organize
with him to prevent settlement, such
an opinion as his should be OF very little weight
Il see bitllDH mere Ill lOuoThDlt EtHticIldus wiz
presides over an educational institution, who
was invited TO a counsel OF this gentleman and
asked to form league 10 prevent any settle
ment OF the public debt, aud lie II said 10 tho
credit OF my friend, his reply TO this proposition
was: Rather than interfere with the sot.
Element Of the Virginia debt. would
aek my institution TO take the bonds
of Virginia aud throw them In me
nre.' Sir, when man declares his designs and
tries TO defeat the settlement, after having made
the statement that IT was INFINITELY better than
the RiddlebegEer bill, l say he needs no more
mention a. my bands. When two me moers o.
no solemnly promised that he would not an
tagoniZe the settlement"
While criticislng the publication very plainly
Mr.. Cardwell expressed high personal regard
for the writer.
AN AsPIRAsr TO MATRIMoSy.
Further on, MIR. Cardwel, addressing his re-
marks TO Mr.. Letcner, said: 81 will not refer &C
the fact that he 10 young, for the attention he
gives TO the fair sex VINO come here would maj
cate that he IL an aspirant TO matrimony. but
he has used tho expression, This ill-considercd
move Ihavo the honor" said Mr.. Casdwoll,
ITO DO q member OF the debt commission, and
| they have spent two years In discussing and
considering the questions here, yet It Is thrown
| ct us that this Is an ill-sdvisod move.
Who would have considered II better
| say that IL is an imputation that ought mover
| 10 have been made. would call upon this Capt.
| toll 10 fall and crush my frame before l would
Commonwealth. lApplause.l think have
| indicated my intense interest in this matter
Why? Ii would be an unfortunate day for Nlr'
| ginia 70 fail 10 meet this settlement. am graft.
| fed that the debate has been opened on thi.
| question, for while IN some few Instances unfor
| tunate expressions have been used, the discus
sion as a whole has beeni timely and fortunate.
sn0CLD ACT PROMPTLY.
| The General Assem- bly, Hhould carry conviction
| 10 the world that the people Of Virginia have &C
| ccpted the settlement. II your action Is prompt
| the fears that appear la the horizon may bs
blnished forever, but II you are going 10 dilly
| daily you will make II possible that number Of
| the bondhoders, who have pooled their interests
| may go 10 Mr.. Ocott aud demand the surrcnde
| OF their bonds and break the pool. Yoar tardt
ness may be- tho means OF destroying what W.
| have already accomplished.
| therefore hope that the House viii now speal
| its sentiments on this subject. VIII you agree
| with tho Senate In approving and ratifying VIVA
| yous commission has done?
Mr.. MuNFoRps CLOSING WORDS.
| Before the question was called Mr.. Munfort
asked the privilege II speaking a moment
81 am deeply Impressed" said he, with thu
| importance Of immediate action upon the re
! por; now before tue House. invoke yolr aid II
| behalf OF the passage OF this resolution. Thos'
| OF you who haven't become satisfied or ar,
| ignorant regarding the details Of tine agree
| ment would ask 10 refrain from voting. Dom
LET IL go out that there Is large minority VIII,