Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-01-11
The Virginia Debt in Congress.

To the Editor of the Register.
A Baltimore paper recently had advices
from Charleston. that the coming LeGis-
la-ure would undertake settlement Of
tho debt. and il Is an open secret. in
Washington that Wall street promoter
claims to have an understanding with Mr.
Carlisle that the government Will sue on
the Virginia bonds held by the United
States as trustee for certain tribes OF IN
dfaus Many inquiries coming 10 me from
different parts of the State, show that the
subject of sufficient public interest 10
warraut the trouble of writing this.
ANY attempt about our so-called debt
will end I'm the same disCreditable smoke
witnessed at Charleston two years ago,
when the Wall street syndicate had
lobby advocating the Virginia commission
scheme. I understand that the Hon. John
W. Mason. of Fairmont. wrote the debt
plank on which Atkinson was nominated,
and thar Governor NaCCOrlle suggested
the plank on which Watts was nominated.
In view Of these proclamations by both
parties. he will be a very unwise man
who attempts TO inveigle this Legislature
/ into a useless debt agitation like Virginia
went through. Any one making intelligent
inquiry VIII find first. that it is utterly i'm
possible for this State 10 take any definite
action which any sensible man will APP
prove: second. that the contract, under
which syndicate claimed 10 control a
pool Of certificates. expired long ago, and
no one has authority to speak for holders
or bind anybody 10 anything. Third The
Virginia commission have announced that
( this syndicate contract having expired
} the Commission were pOwerless TO move
i'm the matter. Fourth. the last Virginia
legislature refused TO amend the resolution
. Amounting % Commission, or to take any
further action 9Th. Some very rcspecta-
5le Wall street parties recently issued a
circular inviting the deposhit Of certiti-
Gates with them. but as they did not con-
suit any one in either State, and as none
of them had any knowledge Of the sub
iect. their undertaking collapsed before it
got started.
The latest scheme Of the defunct syndi-
cate is so grotesquely ludicrous that II IS
difficult TO clothe ii in "siin-tight words.
Ii is the craziest scheme yet suggested
and illustrates the nonsense of such Wall
street promoters as the parties to whom
certain Of our public men are cringing and
trucking under delus,0n they are max
ing friends Of millionaire pOtentates. "
They propose.to make a loud noise about
an imaeiuary suit. Wall street parties
may bride Congress or the Secretary OF
the Treasury to bring suit. Nobody eX-
poets suit, but this noise Will furnish q
pretext for public men TO profess great
alarm about the safety Of the State and,
by advocating legislative inquiry precipi-
tate the very debt agitation against which
both parties were so emphatic. 1t is pure
deception and sham. Here are the facts
The United States invested money be-
longing to certain tribes Of Indians. in
/ bonds. issued by Arkansas. Virginia and
other StqteA The government holds these
bonds as trustee. They have laid default
Cd ana dormant nearly forty years. The
United States owes Virginia, money Dor
rowed TO rebuild the National capital
when if was burned during the war Of
/ 1872. and Virginia insists this debt should
/ offset these bonds. Ii is morally certain
/ that If the matter is ever stirred, Congress
! will allow the offset. or else accept the
! VIRGINIA compromise act Of 1892, under
which all the other twenty-eght million
| Of bonds were delivered up. There is no
( more danger OF suit on these bonds
/ than on those Of Mississippi, Arkansas
and Indiana. Lawyers who have look
/ M the matter. say that the decision in
! Now Hampshire against Louisiana de
I cided by the Supreme Court about 1899,
is conclusive that the United States cam
not 50 q State as assignee or as trustee.
IL would be a shocking prostitution Of
Official patronage for the Treasury De
partment TO single out these Virginia
bonds to bring suit. Such a thing would
not be suggested unless certain public
men were trucking to financial magnate
on Wall street tt is safe to say thSt ,Ir.
Carlisle is mizrvpresented. Gentlemen
whose sense Of national honor is so sem
sitive they have Mysteries when silver is
mentioned viii not hold secret comm nj
cation with Wall street spectators, ara
Will not use their official position to sub
serve a speculation.
But his scheme becomes more ridiculous
when It IS considered that even if suit
were brought it would involve only these
particular $i>l 600 of bonds. The certih-
cate holders could not be parties. and I'M
der no conceivable circumstances could
any of them be benefited.
On 5tl last June. the House passed a
resolution calling on Mr. Carlisle for in
formation as 90 what steps have been
taken TO collect these Virginia bonds. on
December 18th the Secretary of the T. $
ury. answers that they have asked the
opinion Of the Attorney General as to WHIT
steps can be taken.
Many questions suggest themselves.
Why does the Treasury Department refer
the matter 10 The Attorney General? The
resolution did not require this. Why has
this matter been suppressed? w was ii
rot given to the newspapers? Why sin
Cle out these Virginia bonds and not men
ton the defaulted bonds Of other States,
in precisely the same p-odicament? Was
Mr. Carlisle acting 90 please Wall street
Spectator? Where were our members of
Congress? None of them seem TO know
about this resolution?
The people of this country greatly need
in Washington more Of that class of men
who are not subservient to Wall street
financial magnates.
J. NJ. MASON,
Charles Town, W. Va. Jan. Sth. 1897.