The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-13

old debt OF Virginia In an equitable man
ner. Az a prerequisite for her admission
into the Union. she agreed 10 pay Just
proportion of the public debt Of the COM
monwcaith of Virginia prior TO the first
day of January, 1861. The ordinance
of the convention which met In Wheel
ing In 1861, besides providing for the
formation OF new State out Of por-
ton OF the territory of Virginia, contained
this provision: '"fhe new State shall
take upon itself juyt proportion OK
the public debt OF the Commonwealth OF
Virginia, prior TO the first day OF jan
nary, 1861, to be ascertained by charging
10 "a all State expenditures within the
limits thereof. and a just proportion OF
the ordinary expenses of the state Gov
ernment since any part Of said DEBT
was contracted, and deducting therefrom
the moneys paid into the treasury or the
Commonwealth. from the counties included
within the said new State during the
same period " In her first ConStitu-
ton. which was ratified by vote OF her
people In 1853. she again recognized her
obligation to assume an equitable proper
ton of said debt. Article Will, section o.
provides as follows: AN equitable proper
ton OF the public debt OF the Common
wealth OF Virginia, prior TO the first day
of January. in the year 1861. shall be as
=
sumed by this State, and the Legislature
shall ascertain the same as soon as may
he practicable, and provide for the lqIlda-
ton thereof by a sinking fund suhciept
30 pay the accruing interest, ana redeem,
the principal within thirty-four years.
Her Constitution OF 1917 contains tisso
proyisions-Article x. section 4: NO
debt shall be contracted by this state eA-
cept 10 meet casual deficits In the revenue
and TO redeem a previous liability OF the
State" etc, etc. Section s: Inc pow
er OF taxation of the Legislature snail eA-
tend to provisions for the payment Oh
the State debt and interest thereon e'c'
After wears Of trouble and vexauon'
under an act approved on the nth day
OF February, 1892. Virginia mas cohciuueu
negotiations with the creditors Oh tne
State, whose claims existed prior 10 Ihe
first day OF January 1861. as 10 the equl-
table proportion Of the same to be porhe
by her. and a full and maj selueihehI
has been made by her with said creditors,
but the amount which the state OF west
Virginia should pay Is still unascertalned,
AMI can only be adjusted by the actlon OF
her General Assembly.
The creditors. learning that your State
was not willing to negotiate directly win
them without the privity OF virginia,
have insisted that it was Incumbent upon
rnent. Res ,ondng 20 these solicitations
tbe General Assembly Of this State pass
ed the Joint resolution which L now com
m,nicate In taking this action ] beg TO
assure vOur EXccllency that there was
no disposition whatever upon the part Oh
Virginia 10 interfere with the prerogalNe
of the Executive and Legislature OF west
Virginia 10 deal with the question as TO
them may seem proper. virginia ms
simply cadeavoTed to remove the ulih-
culties which appear TO nave been III the
way and TO place 1t within the power
Of West Virginia TO make satisfactory
adjustment.
The commission created by the sald
Joint resolution is composed of the lol-
lowing named gentlemen-the first SIX
chosen by the Senate and the House OF
Delegates and the seventh appointed by
me; Honorables Taylor Berry, IL. l.
Wickham, II. j. Flood, John Is MOOD
H. II. Downing, Randolph Harrison, ana
William +. Rhea. The commission mas
been duly organized by electing Hon. Jno.
B Moon chairman, and mas mace inc loi
loving report to me-
To His EXcelency. Hon. {. I. Ofcrfali'
Governor of Virginia:
Sir,-The commission constituted under
the Joint resolution of the General AS
sembly of Virginia. entitled "A JOINT reso-
luton TO provide for adjusting with the
state Of West Virginia, the proper
ton of the public debt OF the
original state of Virginia proper 10 ne
borne by West Virginia, etc. appioVeu
March 8. 1894, beg leave to report TO your
ENcallcncy that the holders of majority
i'm amount OF the certificates referred to IN
said resolution exclusive Of those held by
the State through the agency of the
Board of Education and Sinking Fund
commissioners have given to the cominls-
sion the assurances required by eald
resolution. that they desired the commls-
sion to enter into and undertake the
negotiation contemplated In said resolu-
ton. and will accept the amount as ascer-
tanned by the commission 10 be PAID by
the state of West Virginia in fun settle
ment OF their claims. as specified IN
said resolution, and the assurances so
given are satisfactory to the commission
and they are now ready and authorized
under the terms of said resolution TO
enter into and undertake the negotiations
contemplated in said resolution.
1t should be added that the assurances
aforesaid are, of course, open to eXamlna-
ton by the Governor of West Virginia
and the proper authorities of that State.
Very respectfully,
(SigneD JOHN Il. MoON'
Chairman.
Richmond. Va. Jan. ., 1895.
Now, submitting the whole matter and
expressing the hope that this question,
which has so long been a subject OF dis
cussion and a source Of more or less
embarrassment to both States, VIII be
speedily determined and finally settled, /
have the honor 10 remain,
Yours most respectfully,
CHARLES 4. O'FERRALL,