Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1907-09-28
VIRGINIA DEBT
SUIT or VIRGINIA AGAINST THE
STATE or WEST VIRGINIA.
J. NJ. Mason. OF Charles Town, Writes
At Length On This Interesting
Matter.

this scheme. are under delusion ana
will sepaate from il when they hear
the truth.
II Virginia comes to understand this
matter her selfrespecting element will
be unanimous for dismissing the suit
recital OF facts, none dare contra,
diet, will be conclusive that two or
three Virginia attorneys, always active
for some private interest opposed to
public interest. BY subterfuge decep
ton and Misrepresentation. misled
the general assembly into authorizing
suit Not only so. but these at orneys
viii. unless halted exhibit yirginia's
name to the national gaze as being dis
credited, dishonored aud distrusted;
and will do this without the possibil
ity Of anyone N the commonwealth re-
ceiving the slightest benefit, except
themselves. And this disgrace will be
greater because the sons of Virginia,
scattered all over this broad laad,
have taught the people, among whom
they dwell. to regard yirginia's name
as typical of honor. II is with state
as with an individual When a man
is reputed lost to self.respect his dis
honorable conduct does not attract at
tentioa. but when one. who has long
been the pride OF his associates,
false to every instinct honest men
value, then his fall surprises public
expectation. and he sinks below the
commiseratioa given to a sneak thief.
When South Dakota hired her name
TO Wall street gamb ers to be used as
plaintiff for suit against North Caro-
lima, the public looked on as they look
on when a professional harlot passes
along the street. But II will de differ
emit If Virginia shocks the national
conscience. An Overwhelming major
ity In Virginia are unwilling that she
be given national nortoriety as a har
lot; are unwilling that her honored
udlut br NhHiuitNu " thN WI ~ 81"
fixed in history as discredited dishon-
ored and distrusted.
The fact that West Virginia Is in
the clutch of the graf ers. crooks and
truckers, has no bearing on the ques-
tion we are discussing. II will APP
pear presently that this whole debt
suit scheme is based on methods, and
on proposition which the selfre-
specting element In Virginia win not
tolerate for a moment.
IT is said that he suit was proposed
several years ago by some now OPP
posing IL, the ready reply is that the
suit. then suggested was on totally
differenP basis And this will be shown
presently briefly.
Virginia assumed two-thirds
of the debt Incurred before she was
dismembered, and issued certificates
TO represent the one-third which she
set aside to be settled by West vir-
ginia. The act, setting aside this one.
third, was careful TO state that It's
object was to enable West Virginia
to settle directly with her own cred
itors. The certificates simply ident.-
fed the persons entitled to receive
whatever West Virginia pays
Two.-The acs OF 1892 was based on
/ the fact that in 1869. 1871 and 1879
the general assembly had been missed
into compromising and then capitaliz
ing compound interest and hence the
bonds, outstanding in 1892, called for
largely more than square deal re-
quired Virginia to pay. Her creditors
accepted this view and agreed 10 com
promise.
But the certificates equally calico
for capitalized compound in crest.
Hence. those in West Virginia, who
understood this matter, said that the
certificates ought Q be compromised
on the same terms that Virginia had
compromised her two-thiros.
II will be sho vn presently that af-
er neary twc-th rds Of West. Nir-
ginia's creditors lad accepted this
proposit' on, a Wa J street crook Undue
ed certain members OF the general as
sembly to upse the compromise BY
having themselves and others appoint
ed a commission To settle West Vir
ginia's debt. West virginians. past
forty. will remepber the popular in
dignaion when a syndicate of London
grafters, organized as the council of
bondholders invoked the United States
court to bring Virginia to her knees
1t will be shown presently that the
general assembly is unwittingly lend
ing the states name to exactly such
scheme as the English bondholders'
council attempted.
Three.-The Virginia middle class