Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-07-10

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LIST, 1861, shall be assumed by this
State, and the Legislature shall aseer-
tain the same as soon as practicable"
And the present Constitution contains
the following provision: Section 4, Ar
ticle 10-'No debt shall be contracted
by this State except to meet casual de-
fieits in the revenue, to redeem a pre-
vious liability of the State, etc. and
Section 5, Article 10, provides, 'The
power of taxation of the Legislature
shall extend to provisions for the pay
ment of the State debt and interest
thereon, etc" Here are plain provis-
ions in the fundamental law OF our
State for the mode of ascertaining
West Virginia's part of the old debt
and an explicit direction to ascertain
the same as soon as practicable. I'm
fortunately Virginia in making a set
Element with the bondholders in 1871,
overlooking the Wheeling ordinance,
assigned to West Virginia one-thiFd OF
the debt, issuing what are known as
Virginia deferred certificates for this
one-third, pledging on their face pay
ment lin accordance with such settle
ment as shall hereafter be had be-
tween the States of Virginia and West
Virginia" and held the bonds for which
they were issued in trust for the own
ers. No one at the time of the adop-
ton of the two constitutions question
ed liability on the part of West Vir-
ginia for share of this debt. She
would not have been admitted into the
Union save for her recognition of an
obligation to assume just proportion
of it, The early Governors of the State
each recommended and urged the Leg
islature to appoint committee to
meet Virginia and ascertain the pro-
| portion of the old debt to be borne by
the new State. In 1871 commission
called the West Virginia Debt Commits
sidn was appointed by the Legislature,
and proposed to Virginia to ascertain
the amount due to West Virginia
Those representing Virginia and West
Virginia disagreed as to the method or
determining the amount of West Vir-
ginia's liability, but the West Virginia
commission proceeded to state the ac-
count according to the Wheeling or
dinanee and found this State indebted
to Virginia in the sum of $991,0 AT
the same time this commission ascer-
tanned the amount expended within
the limits of the State of West Virginia
on railroads, turnpikes, bridges, etc.,
and placed it at the sum OF S3,343,-
1929 In addition a large amount
was spent on the asylum at Weston.
Under the following provision of an act
of February 8, 1868, BE it enacted by
the General Assembly of Virginia, that
all the property owned by this Com
monwealth within the boundaries of
West Virginia shall pass to West Vir-
ginia. but the State of West Virginia
shall account for the same in the set
Element to be hereafter made with this
| Commonwealth valuable stocks and
bonds were transferred to West Vir-
ginia. The Constitution OF West ir-
GINA of 1868, provides, Section Z, Ar
ticle 8:
THE Legislature may at any time
direct the sale of the stocks owned by
| the State in the banks and other cor
porations but the proceeds of such sale
shall be applied to the liquidation OF
the public debt"
The Legislature of West Virginia has
| directed that the principle of the pro-
ceeds of said property sold shall be
carefully preserved and the interest
and profit only be used for the benefit
of the schools. The report of the West
Virginia Debt Commission of 1871
placed the value of the stock owned by
! Virginia in the banks at $3.50 500.
| These stocks, with other valuable in
vestments, were disposed of and put in
| the Irreducible School Fund of this
State. / refer to the above statements
to show this State acquired valuable
property from the State OF Virginia.
! Her recent Legislatures declare by
formal resolution that she will refuse
to take any action with reference to
her proportion OF the old debt, and
/ that she is in no way obligated for
! any part thereof. The members OF the
! last Legislature. although acting under
| the solemn obligation of an oath TO
support the Constitution OF West Vir-
ginia subscribed to before they enter
ed upon their duties, became parties TO
| a resolution OF bald reputation. How
it is possible for member of the Leg
| islature to vote for a resolution of re-
| pudiation with the provisions OF the
Constitution cited above before him. is
a little puzzling to the mind of a man
with a conscience No one has ever
asserted that West Virginia owes the
| Virginia Deferred Certificates. 1t is
clear that settlement ought to be had
between the States of Virginia and
West Virginia, and if West Virginia
owes the old State the amount would
go TO the certificate holders. All they
ask is that the account be stated in
accordance with the fundamental law
of the State of West Virginia. They
do not claim that West Virginia il
largely indebted. and they do not ask
for any particular sum. West Virginia
on q settlement. may ndt owe a dollar.
but If she owes the hopbrable thing to
Dc Is to settle with u = State Of VIZ