The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1915-04-29
VA. DEBT
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virginia pensliEed- We only ask that
decree be entered showing the
amount OF interest and the amount OF
principal according TO the terms OF
the old bonds We sincerely hope
that the court will bring the case TO
close by fixing a specific amount as
West Nirginia's share OF principal and
interest"
Attorney General Lilly made a
strong argument for West virginia
IN closing. he held aloft a map. show
INK that the money raised from the
sale OF the old bonds was invested in
internal improvements in what T. now
In virginia. Members OF the court in
terrupted him and asked for copies OF
this map. Attorney Geieral Lilly.
proceeding. said.
This map shows YOU where this
money was spent II was spent in
the old section Of the State Only
small portion went TO that section OF
the State now West virginia In view
OF this. shall this court hold that
West Virginia shall assume response
billty Tor part OF this debt and com
pei her 10 pay interest on Il also?
West Virginia Never Knew.
mere never was a time when
West virginia. standing alone. could
nave ascertained her equitable proper
uon or the Virginia debt. and had
she mad the money TO paw ~. she
could not have accomplished IL for
the reason that she did not know how
much II was. II was not one-third. or
one-haf or onefifth of the Virginia
bonds. but IL was an equitable pro-
portion thereof. which means nothing
! after the equities have been examined
and the account made definite.
What did Virginia do She arbi-
trarily fixed one third OF the old state
debt. amounting to 10000. 900 as West
Nirginia's share and refused to treat
Tor settlement on afy other basis
This meant that all negotiations were
necessarily closed through the arbi-
trarily conduct OF Virginia until this
suit was Instituted. Under such cir
cumstances why should West virginia
be compelled to pay interest. She did
/ not promise TO do so; she was al no
tault and interest SHOULD not be col
lected from her as damages and by
way OF punishment. West Virginia.
during all the years. was trying TO as
certain the amount of her part OF the
old debt and Virginia would rebuff
was TO negotiate a basis which the
older state had. arbitrarily.
Virginia had fixed approximately
$lO.O0o.OO0 as West Virginia's share
OF the debt. That was the only basis
upon which she would negotiate
What happened? The court and the
Special Master fixed the amount a,
S7l2O.OO0 as West Virginia's principal
and yet Virginia for a long period of
years had arbitrarily taken the stand
that sum 100000 larger was the
principal and refused TO enter into
negotiations for a final settlement on
any other basis. We think West Vir-
ginia has done her part towards try
Ing to adjust this controversy. and
Virginia has hindered us because she
I insisted upon a sum which this court
has held was too high"
Judge Harrison's Plea.
Judge Harrison. in his argument.
showed that Virginia has paid
s51 100000 in interest and PRINCIPAL
OF the old bonds and still has
s24.OOO.OOO OF them outstanding upon
which she is paying interest He
pointed out that the resources Of West
Virginia have increased 500 per cent
since the two states separated. while
virginia nave increased only 81 Der
cent. He said that West Virginia's
taxable value aggregate a billion dol
| lars while Nirginia's are only six hun
dred million dollars. He denied that
Virginia has arbitrarily refused TO en-
the negotiations TO settle the contro-
versy. but declared that "a soon as
the state was readmitted into the
Union she sent commissioners to
West Virginia with offers TO arritrate
the questions and settle IL.
West Virginia is resisting the nav.
ment OF interest" he sale "If West
Virginia does not pay this interest.
who should pay il? Certainly Vir-
ginia should not be compelled to paw
II. West Virginia was compelled to
recognize her obligation for a share
OF the original debt in her state CON
stitution. or Congress would never
have admitted her into the Union.
Recognition Of obligation IS written
In the Wheeling declaration n she
recognizes her equitable proportion
OF the debt ~ thet time. is II not
right that she should be wiring TO
pay interest on that proportion when
Il Is definitely hxed?"