Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1911-03-10
VIRGINIA WINS DEBT CASE.

0SuIuS tOus ~. W. AsAotSA o. AO
sum of 81, lS2, 5O7 was held today by
the Supreme Court of the United
States to be the proportion of the s32,-
900, 600 old Virginia state debt which
West Virginia is under obligation to
bar. The court left the final determi
nation of the matter, including the
question of interest, to the states to
decide by conference.
vIRGINIA'S CLAm.
Ever since the civil war the COM
monwealth OF Virginia has been en-
deavoring to collect from West vir-
ginia what the former claimed was the
latter's share of the old states debt.
West Virginia was said to have &C.
knowledged her liability in the "or-
dinsnce of Wheeling" bsfore she was
admitted to the Union. and in her
state constitution.
Finally when the payment was not
made, Virginia brought suit in the
Supreme Court for about one-third of
the state debt as of january l, 1861
estimated then to be about So, OG0, 900
The court appointed Charles E. Little.
field of Maine. then Just leaving the
house of Representatives, to be special
master to ascertain the amount of the
state debt to January l, 1861, and
various other questions in connection
with the basis on which West Vir.
ginia's proportion should be ascer-
tanned. His report was submitted to
the court March II, 1910.
RATIO OF WEALTH IN 1861.
Justice Holmes announced the opion-
ion today. He said the court had re-
gsrded the ratio OF the valuation of
the real and personal property of the
two states as the proper basis for ar
irving at West Virginis's ''iust and
equitable" proportion of the debt.
The court had excluded from this
valuation the value of slaves. This
ratio according to the masters report,
Justice Holmes sand, was as 1865 to
.335. The s33, 600, 900 debt would have
been divided according to this ratio,
he said, had not Virginia by subse-
quent legislation, changed the amount
TO be apportiored. The justice said
Virginia had induced its creditors to
accept S22, 0O0, 600 IS its share of the
debt, whereas by the courts figures,
Virginia's share would be S25, 900, 900.
The difference between these sums,
namely 81. O0O, 600 should be subtracted
from the S33 200, 600 debt. This left
about So, 600. 900 to be apportioned.
West Virginia's proportion of this
would be q, 1872. sol. 46 he said.
QUESTION AS To INTEREST.
whether any interest 10 DUE" said
Justice Holmes, "and If due; from
what time it should be allowed. and ct
what rate it should be computed, are
matters as to which there is . serious
contro versy in the record and con-
corning which there 10 room for wide
divergence of opinion. There are
many elements to be taken into &C.
count on the one side and the other.
1.-THE circumstances of the asserted
default and of the conditions surroup-
ding the failure earlier to procure q
determination Of the principal sum
payable including the question OF
laches SIS to either party, would rel
quire to be considered. A long time
has elapsed. Wherever the response
hility for the de'sy might ultimately
be placed or however 1t might be
shared, it would be severe result tpI
capitalize for half . century. Such .
thing hardly could happen In > private
care anslo9ous to this. Statutes Of
:imitssion, il nothing else, would be |
likely 70 interpose . bar.
II Mr.. VIM. Tamkin of DERRICK, Va. |
will announce himself for Commits |
sioner Of tho Revenue for Johnston
District, be will receive the support Of
many voters. A VOTEB.
An Awful Eruption
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