The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-23
RELIEF
THAT NIGHT HAVE BEEN
Congested Conditions in Virginia After the War.
liquidation Hitherto Unwritten
History
By "AFTCN"


~ any material left with which to be
Kin the task II rebuilding their fu-
tures. SO far as the landowners were
concerned. there was not much 10
show eXcept debts. Before and dur
Ing tha war most Of them had been
borrow ers, and. on the monthly court
days, large past of the business
transacted consisted in the extension
OF loans, for they were rarely paid.
Thare are some quite we'll authenti-
Gated statements of renewals brought
about by the dilapida tion through age
Of the paper on which the obligations
were originally written But whc-
Their debtors or creditors, there was
for nearly all OF those who were to
rely for tho support OF their families
upon the cultivation of the SOIL. but
one and the same outlook The land
was there, which mad been safely look
cd to for ernps which, at existing
prices. would pay Handsomely, and
which. If equal 10 those which had
been usually gathered, would go far
towards rehabilitation. But the build
ings were destroyed or greatly Injured
by violence or neglect. the farm STOCK
had been lblitcrnted or reduced ia surh
an extent as to he OF little value, tho
agricultural implements We're worn
out. even seed was wanting and the
labor was in an extremely demoraii2ei
condition Before operations could br
resumed with any prospect of success
these deficiencies must be nlled and
many other requirements met and
wives AMI children must be- fed and
clothed. though 10 tell the truth. both
had during the greater part OF the
four years learned 10 1--we upon very
little
To accomplish anything. money was
needed. and OF that there was hardly
any 10 he had, consider II infinitely
10 tho credit of tho wealthy men OF
Virginia. ard believe OF the whole
South. that as . rule they gave OF
OF them gave also OF their lives TO the
cause.
shall never fan to feel proud OF
tho fact that my own grandfather
more than eighty years old and orisi-
nally a Union ren, Hs they We're call
cd. from the time that his State was
invaded to the time of lis death re-
fused 20 ,ouch any investments except
those which were put forth hy the
Confederate states for the support of
the war directly or collaterally, and
that he. as a holder Of the stock OF
the three large BANKS of the State.
some OF the certificates for which dat
ed back To the commencement ~ tina
century, favored, as did stockholders
generally, the dedication of the funds
to the general purposes with fun as
sumption of all the risks involved. /:
would perhaps be too much 10 say
that value those now worthless hits
of paper o. much as I would 'he large
sums of gold which they once repre-
scented. hut | am sure that ! would not
for any slight consideration part with
the salts factinn Of knowing that they
are testimonials of devotion OF one
whom loved and admired 10 the State
which had been his and that of his
ancestors from tho iimc when one OF
them had e seat in the lirst House Of
Burgesses of Virginia. a loas, the frs,
ono named In Hening'a statutes at
Large"
Well, there was no money, and now
TO get 1t was the difficult question pre-
scented TO Cur people generally This
IS not intended TO be a financial ar
ticle, and SO ! shall say nothing OF the
means adopted 10 bring about same
partial results and to furnish some
currency on terms which proved 10 he
injurious rather than beneficial am
persuaded that II would nave been bet.
ter ia the main for the farmers to
nave been without mcncy than to have
borrowed as they did. I know of many
cases in which absolute ruin followed
enterprises based upon loans for short
periods and Al high rates of interest.
And now for this might have-heen
One of the results of several visits
made in these latter years to Eng.
land was an appreciation of the senti-
ments Of interest and confidence which
were entertained by very many Of tho
most Influential citizens of tina: coun-
try towards the people OF Virginia.
Their synpa thies led thom to wish to
help us ana their confidence induced
the arm belief that they could do so
with safety. And this feeling was
potential oven in some offices where
the largest transactions were matters
Of daily occurrence. IT is source
of the gravest regret to me that sub
Eequent events led 10 a withdrawal Of
this confidence, and apparently with
full iustiisation. do not believe 1T
tougnt or could have heen othnrwisa|
under tho state of things which really
existed put so far the men of Vir-
ginia who were really interested in
the debt fof the State and who had it
to pay because they owned the prop
crty, were/ concerned, know and,
please Gnd, some time or other those
= of orr English friends who may live
Will know that these men s.rnVn to
the point of utter exhaustion to meet
the obligation, ann succumbed finally
only when there was presented tn
them the alternative OF Reputation, &c
cording to the Aeadjusters. or Yield
:ng to them in this matter OF the State
debt in order to avoid the utter ruin
which would follow an abandonment
of the management of affairs to those
who Represented the negroes, made
voters by debt paving Republican,
party and their white allies. who to-
gether paid probably not one twentieth
of the taxes which had been dedicated
to thc payment az the coupons The
struggle between these opposing forces
,ao lang and hitter. The result ia a
matter OF history. When the debt
payers OF Virginia arrived at the GER
itainty that they must abandon the ef
fort they had been making or suffer
their whole political system to crum-