Lexington gazette. [volume] (Lexington, Va.) 1871-1962, 1906-01-17
Attorney General Anderson on
West Virginia Debt

West virginia DeDt
Attorney General William A. Ander-
so rade public his annual report last
Friday. The report contains a conden-
sed review Of every case disposed OF
during the last yeer, also those that
are still pending In the courts. With
reference to the matter Of the West
Virginia debt, the report says In part:
"Upless suit shall be speedily
brought by Virginia ito have the
amount Of West Virgiria's Just liabil-
itv ascertained and determined by the
United States Supreme Court (the
tribunal having jurisdiction OF such
question:. the $12,OOO.OUO or more OF
said certificates now deposited under
/ the control of the commission will
have to be surrendered to the conf
mittee which represents those certlh-
Gates. The entire arrangem snt and
contract under which. with infinite
trouble. this great number Of certih-
Gates have been deposited will go to
pieces and the certificates be deiiy-
cred up to their original owners and
be scattered throughout the civilized
world. II will be thereafter I'M
practicable, II not impossible, ever to
have them again coralled aud depos-
tied In the hands Of committee au-
thorized to act and contract for their
: owners. for an adjustment which can
\ not be hurt, a1d may greatly benefit
Virginia.
"In addition to these considerations,
q which point to the duty of prompt and
s vigorous action in order to protect the
Q interests Of the State and secure de-
: finite settlement with West Virginia,
j the commission and the undersigned
, were appraised OF the fact that the
: great State OF New York, following
8 the vicious example OF South Dakota
: had passed an act Of making 1t the
duty Of the Encouragement OF that
a State to bring suit in the Upitec
9 States Supreme:Court upon any OBJ
} legations OF any State which mi'ht o'
gsl ia New York.
y We were also Informed that holu
, ers OF lsrge amounts OF the virgins
y deferred certificates proposedto donat
l. a norton OF their holdings to New
= York (as was done in respect to eel
u" tain repudiated bonds in North Caro-
lima in the South Dakota case) Tor tn
purpose OF having an adjudication
against Virginia and West Virginia
OF OF the liability of those states In tn
ne premises.
n at will be observed that decree az
:. Indicating the liability OF Virginia an
West Virginia, respectively in respec
y TO any S1OO, 900, or any $4,000, OF tn
bonds represented by said certificate
20 will necessarily determine the liaoilit
Oh OF each of these States in respect to a
rs OF the bonds OF the same character.
10 ut will DO manifestly to the intere'
IT, of Virgins, and not to the prejudic
rs OF :West Virginia. to haye the que
70 tlou OF the nature an extent OF Yves
Virginia's liability determined In
10 suit brought under a contract b
{ which Virginia is to be released an
~ exonerated from any farther claim o
us liability, rather than, by failing I
~ avail of an opportunity 80 favorable
;" run the risk OF litigation In which
30 large claim may be asserted again'
- this Common wealth.
nc 1.-THE creditors who have depos!tt
their certificates, by the contract the
~ or their representatives. are willing
- make, are willing to concede that Virgi
11r la has already paid aud assumed as mu'
~ on account ofthe debt OF the old Sta
al az she should be expected to pay. 81
bo has already actually paid, or s'novat
"a and assumed, the enormous sum
~ over S79, 600, 900 on account of the col
ba mon debt OF the two States, and u
great mass OF the certificate holde
da evidently think she has done enong
NJ "At any rate thsy agree that
rk Virginia will, at their cost, institute a.
id prosecute to judgment and decree
nd suit against West Virginia for settl
,le ment. they will release Virginia e
tirely from liability on account & I
zs- unfunded third OF the ante-bellsIn DEF
be- "Of course only those certihca
holders who have deposited their &c
tificates with the Virginia Debt Coz
It mission under such a contract OF
NJ dernnity 10 Virginia will be bound
i, the stipulations for her release 4
~, This consideration has Induced
LOO TO insist that no suit should be brouG
70 until the great mass OF the cert
gas Gates Of 1871, the only ones as to VIM
mo- there is or can be any question as
he V,roinia's absolute release, shall ha
,ar been deposlted under such contra
az "The undersigned is exceedingly
luctsnt for obvious reasons
sanction suit by Virginia again
West Virginia, AMI would Dot DO 80
~ there was any hope of settlement
90 90 the yexed questions involved in q
30 40 other way"
~ Real Estate and Property Trau
'OS fers Recorded