Year: 1871

necessarily be incurred by the commits
; sioners.


Under such circumstances, found i
difficult, indeed almost impossible, t.
secure the services OF such citizens a
the important interest involved seemed
to demand. No provision was made
authorizing me to appoint a financla
secretary to keep correct record OF th'
proceedings of the commission, and at
tend to other necessary matters to IA
cilitate its business, nor did the gentle
men upon whom l finally prevailed tc
serve, or some Of them at least, feel au
thorized to employ one themselves, OIL
think it best to commence the intricate
and laborious duties Of their appoin:
ment without one.


In this state of facts and the delay
occasioned by it, | deemed it most pru'
dent to let the whole matter 60 over Ia
4 the present meeting of the Legislature,
believing that they would see the i'm
portance of calling up the subj ject early
enough in the session to give it thor,
ough investigation, and to mature etii-
cieDt measures tor an equitable adjust
ment of the debt at as early day as
possible.


The Governor of Virginia, in his mes
sage already alluded to, speaking OF
the debt, states that: "The obvious in
tent and meaning OF all the legislation
upon this subject, by each State, is, that
whatever amount the State of West
Virginia ought to assume, should be
paid into the treasury Of the State of
Virginia, to be by her used in the ex-
tinguishment of the original debt" 1t
is hardly necessary for me to say that
strong doubts are entertained in the
minds OF many as to the correctness OF
this assumption. The discussions in
the General Assembly of Virginia since
the delivery Of the message, show a dl-
vided opinion upon this subject, among
even the leading members OF that body.
The Governor shows the finances OF
Virginia to be in a PROSTATE condition.
He SAYS: 81 do not urge an attempt
for the immediate resum ption Of the
payment of interest upon the public
debt. We are not yet prepared to do SO,
nor can it be reasonably expected of us.
He does not think any payment OF in
terest can be made until 1872 nor are
any very promising assurances given
that any will be paid, even then. am
sure there is but one feeling among the
people of our State, as to the financial
embarrassment Of the mother Common
wealth, and that is one of profound re-
gret. But in the face OF the official
declaration, that Virginia is unable to
paw even the interest on the debt, 1t be-
comes a grave question whether in ad-
vance of q settlement, we shall sanction
the proposition, that whatever amount
the State Of West Virginia ought to as
sumo, should be paid into the treasury
of the State of Virginia" Suppose we
agree to do so, do we not incur a double
responsibility? If we bind ourselves
to pay our proportion Of the debt to the
State of Virginia, may we not be still
held liable to the holders Of Virginia
bonds?


have directed your attention to this
phase of the subject solely with view
Of impressing upon YOU the import
ance Of an early investigation, in order
that some plan may be agreed upon TO
determine, not only how much Of the
debt we owe, but to whom we owe it, so
that when a settlement is made, it shall
be a satisfactory and an enduring one


As to the mode of settlement, | defer
to the judgment Of the Legislature. |
desire, however, to express the opinion
that the plan suggested by the Governor
of Virginia, OF submitting the whole
question to board OF arbitrators Sc
lected from other States, whose action
shall be final, does not strike me as a
safe one for the interests OF West Vlr'
ginia. Our State has no public debt
of it's own; and if its affairs are eco
nomically administered in the future, it
! is safe to say, that the heaviest drafts
for the construction OF public buildings,
school houses, and other extraordinary
.outlays, have already been made, so
! that when plan of adjustment shall
have been agreed upon, the prospects
are that we shall be in fair condition
to pay our portion Of the debt, should
we be found liable for any part OF it. 1t
is, therefore, highly probable that per-
sistent and perhaps successful efforts,
by interested parties, would be made to
induce arbitrators, not entirely familiar
with the history of the debt and the
peculiar circumstances under which
much of it was created, to fasten an
undue proportion Of it upon West Vir-
ginia.


As to the basis upon which settle
ment should be made, think there is
but one that will be just to our State.
1t is that set forth in the ordinance OF
August 90, 1861, already referred to, and
is in these words: "The new State
shall take upon itself Just proportion
of the public debt OF the Common
wealth Of Virginia, prior to the first
day of January, 1861, to be ascertained
] by charging to it all State expenditures
within the limits thereof, and just
proportion OF the ordinary expenses OF
the State government, since any part Of
said debt was contracted, and deduct
ing therefrom the moneys paid into the
treasury Of the Commonwealth, from
the counties included within the said
new State during the same period.
This is a plain and fair proposition,
and, 1t seems to me, the only one upon
which an equitable adjustment can be
made.


All these, however, are matters upon
which the judgment Of the Legislature
should be passed, and therefore, hope
the whole subject may receive from. you
prompt and careful examination, with
a view Of bringing about, at an early
dow some arranCement that will be