Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1892-01-22
and provide for the liquidation of the amount
THE RESULT.

THE RESULT.
BY this settlement we will have accom-
plished much for Virginia beyond what fig
ures disclose. Il have eliminated the public
debt from Re politics OF the State, where it
has been a harassing question for many years
dividing the people and embittering party
feeling Besides, it will restore confidence in
us and strengthen onr credit, because the bus
mess and commercial world will see that in
good faith we have done all we could do and
all that we were asked to do to satisfy oar
creditors. They have selected their own
agentS-stranger to us-watchful of their
rights and zealously guarding their interests
and after much deliberation and a thorough
examination OF this delicate and perpleXing
question have prepared and proposed a plan
for the equitable adjustment OF the debt, which
has been accepted by your commission on the
part of Virginia ''the bnndholderS' committee
cheerfully recommending it (the settlement)
to their constituents It was submitted to
their advisory board, men OF their choice
(such men as Cleveland, Bayard and others
of national reputation) their friends, not ours.
'Thev approved and recommended the plan
of settlement of the Virginia debt after hav-
ing carefully considered the question in all of
its complications
II, then, they have sent to us their agents
with their proposition, and we have accepted
it and are prepared to comply with the terms
of the settlement ON our part, the odium of
reputation does not rest on us, and when
charged against Virginia is false and SANDER
Gus.
The acceptance on the part of the State of
their own proposition so modified that we will
be able to meet the accruing Interest without
increasing our rate of taxation will unite all
classes of our people, and every man who
loves his State and will ylndicate her honor
will come now to her assistance and the COu-
pom vender will find no sale for his deprecia-
ted currency among our patriotic tax payers,
and the coupon will become as worthless as
the shin-plaster of past generation.
But should be mistaken i'll this, and there
can yet be found tax payers who are willing
to claim protection OF Vrginia's laws, and
will still endeavor to make her crouch at the
feet OF these few merciless bondholders, in
that event legal remedies (yet untried) will be
used against all such persons, which will
coupons from the bonds held by those whoare
unwilling to accept the terms OF the settle
ment which Virginia now offers.
no INCREASE OF TAXATION.
Will say to the bondholders who are still
hoping for better terms and will not fund
under the proposed law, that this IS impossi-
BILE without increasing the taxes. The people
will not, and cannot, submit to an Increase OF
taxation, so say they all. They have said SO
in the legislature; they have said this in their
conventions and at all times and every where.
Our people are united on this subject, without
distinction of party. And they declare fur
ther that their children shall be educated,
that the light of our higher schools and col
leges shall not be extnguished. We intend
also that our unfortunate insane shall be
cared for, our old soldiers and their widows
shall not be neglected. These determinations
are fixed in the hearts of the people of Vir-
ginia, and they will not abandon them. These,
we consider are our highest obligations, and
to them we will be faithful, though a cruel
necessity may compel us to be delinauent to
others. These declarations are not intended
as threats, but are frank expression of the
opinion OF the people.
Let us be prepared to carry out in good
faith the agreement which your commission
has made with the agents of the bOndholders,
and in due time all will be we'll.
For these reasons l advise that you pass a
resolution ratifying and confirming the agree
ment entered into by your commission with
the Olcott committee for the settlement of the
debt of Virginia, and that the agreement be
referred to an appropriate committee to pre-
pare bill to carry it into effect.
p W. MCKINNEY.